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科睿唯安（CLVT）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
罗塞塔石碑的季度营收约是科睿唯安的1.0倍（$586.5M vs $585.5M），科睿唯安净利率更高（-6.9% vs -21.0%，领先14.2%），罗塞塔石碑同比增速更快（73.0% vs -1.4%），科睿唯安自由现金流更多（$78.9M vs $26.7M），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs -5.1%）
科睿唯安是一家英美合资的上市分析服务企业，主要提供订阅制信息服务，覆盖文献计量、科学计量、商业与市场情报领域，同时为医药、生物科技行业提供专利、监管合规相关的竞争分析，也提供商标保护、域名与品牌保护服务，旗下Web of Science产品系列还负责计算学术期刊的影响因子。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
CLVT vs STEP — 直观对比
营收规模更大
STEP
是对方的1.0倍
$585.5M
营收增速更快
STEP
高出74.4%
-1.4%
净利率更高
CLVT
高出14.2%
-21.0%
自由现金流更多
CLVT
多$52.2M
$26.7M
两年增速更快
STEP
近两年复合增速
-5.1%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $585.5M | $586.5M |
| 净利润 | $-40.2M | $-123.5M |
| 毛利率 | 67.2% | — |
| 营业利润率 | — | -33.2% |
| 净利率 | -6.9% | -21.0% |
| 营收同比 | -1.4% | 73.0% |
| 净利润同比 | -163.1% | 35.7% |
| 每股收益（稀释后） | $-0.06 | $-1.55 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CLVTSTEP
| Q1 26 | $585.5M | — | ||
| Q4 25 | $617.0M | $586.5M | ||
| Q3 25 | $623.1M | $454.2M | ||
| Q2 25 | $621.4M | $364.3M | ||
| Q1 25 | $593.7M | $377.7M | ||
| Q4 24 | $663.0M | $339.0M | ||
| Q3 24 | $622.2M | $271.7M | ||
| Q2 24 | $650.3M | $186.4M |
净利润CLVTSTEP
| Q1 26 | $-40.2M | — | ||
| Q4 25 | $3.1M | $-123.5M | ||
| Q3 25 | $-28.3M | $-366.1M | ||
| Q2 25 | $-72.0M | $-38.4M | ||
| Q1 25 | $-103.9M | $-18.5M | ||
| Q4 24 | $-191.8M | $-192.0M | ||
| Q3 24 | $-65.6M | $17.6M | ||
| Q2 24 | $-304.3M | $13.3M |
毛利率CLVTSTEP
| Q1 26 | 67.2% | — | ||
| Q4 25 | 66.8% | — | ||
| Q3 25 | 65.0% | — | ||
| Q2 25 | 67.2% | — | ||
| Q1 25 | 65.1% | — | ||
| Q4 24 | 65.7% | — | ||
| Q3 24 | 66.2% | — | ||
| Q2 24 | 67.2% | — |
营业利润率CLVTSTEP
| Q1 26 | — | — | ||
| Q4 25 | 6.7% | -33.2% | ||
| Q3 25 | 7.1% | -148.8% | ||
| Q2 25 | 1.1% | -5.6% | ||
| Q1 25 | -3.5% | 2.6% | ||
| Q4 24 | -9.4% | -101.7% | ||
| Q3 24 | 3.5% | 21.3% | ||
| Q2 24 | -36.9% | 29.4% |
净利率CLVTSTEP
| Q1 26 | -6.9% | — | ||
| Q4 25 | 0.5% | -21.0% | ||
| Q3 25 | -4.5% | -80.6% | ||
| Q2 25 | -11.6% | -10.5% | ||
| Q1 25 | -17.5% | -4.9% | ||
| Q4 24 | -28.9% | -56.6% | ||
| Q3 24 | -10.5% | 6.5% | ||
| Q2 24 | -46.8% | 7.2% |
每股收益（稀释后）CLVTSTEP
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.00 | $-1.55 | ||
| Q3 25 | $-0.04 | $-4.66 | ||
| Q2 25 | $-0.11 | $-0.49 | ||
| Q1 25 | $-0.15 | $-0.37 | ||
| Q4 24 | $-0.27 | $-2.61 | ||
| Q3 24 | $-0.09 | $0.26 | ||
| Q2 24 | $-0.46 | $0.20 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | — |
| 总债务越低越好 | $4.3B | $270.2M |
| 股东权益账面价值 | $4.8B | $-378.8M |
| 总资产 | $10.9B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.89× | — |
8季度趋势，按日历期对齐
现金及短期投资CLVTSTEP
| Q1 26 | — | — | ||
| Q4 25 | $329.2M | — | ||
| Q3 25 | $318.7M | — | ||
| Q2 25 | $362.6M | — | ||
| Q1 25 | $354.0M | — | ||
| Q4 24 | $295.2M | — | ||
| Q3 24 | $388.5M | — | ||
| Q2 24 | $376.4M | — |
总债务CLVTSTEP
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.3B | $270.2M | ||
| Q3 25 | $4.4B | $269.9M | ||
| Q2 25 | $4.5B | $269.6M | ||
| Q1 25 | $4.5B | $269.3M | ||
| Q4 24 | $4.5B | $168.9M | ||
| Q3 24 | $4.6B | $172.3M | ||
| Q2 24 | $4.6B | $172.1M |
股东权益CLVTSTEP
| Q1 26 | $4.8B | — | ||
| Q4 25 | $4.8B | $-378.8M | ||
| Q3 25 | $4.9B | $-233.5M | ||
| Q2 25 | $5.0B | $153.9M | ||
| Q1 25 | $5.0B | $179.4M | ||
| Q4 24 | $5.1B | $209.8M | ||
| Q3 24 | $5.5B | $397.5M | ||
| Q2 24 | $5.6B | $366.9M |
总资产CLVTSTEP
| Q1 26 | $10.9B | — | ||
| Q4 25 | $11.1B | $5.2B | ||
| Q3 25 | $11.2B | $5.3B | ||
| Q2 25 | $11.4B | $4.8B | ||
| Q1 25 | $11.5B | $4.6B | ||
| Q4 24 | $11.5B | $4.3B | ||
| Q3 24 | $12.0B | $4.0B | ||
| Q2 24 | $12.1B | $3.8B |
负债/权益比CLVTSTEP
| Q1 26 | 0.89× | — | ||
| Q4 25 | 0.89× | — | ||
| Q3 25 | 0.90× | — | ||
| Q2 25 | 0.90× | 1.75× | ||
| Q1 25 | 0.90× | 1.50× | ||
| Q4 24 | 0.88× | 0.81× | ||
| Q3 24 | 0.84× | 0.43× | ||
| Q2 24 | 0.83× | 0.47× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $134.7M | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $78.9M | $26.7M |
| 自由现金流率自由现金流/营收 | 13.5% | 4.6% |
| 资本支出强度资本支出/营收 | 9.5% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $333.9M | $18.6M |
8季度趋势，按日历期对齐
经营现金流CLVTSTEP
| Q1 26 | $134.7M | — | ||
| Q4 25 | $159.9M | $27.2M | ||
| Q3 25 | $181.1M | $16.2M | ||
| Q2 25 | $116.3M | $46.3M | ||
| Q1 25 | $171.2M | $-66.5M | ||
| Q4 24 | $141.3M | $27.6M | ||
| Q3 24 | $202.9M | $53.7M | ||
| Q2 24 | $126.2M | $50.2M |
自由现金流CLVTSTEP
| Q1 26 | $78.9M | — | ||
| Q4 25 | $89.2M | $26.7M | ||
| Q3 25 | $115.5M | $15.9M | ||
| Q2 25 | $50.3M | $45.2M | ||
| Q1 25 | $110.3M | $-69.2M | ||
| Q4 24 | $59.1M | $27.0M | ||
| Q3 24 | $126.3M | $52.4M | ||
| Q2 24 | $60.3M | $49.6M |
自由现金流率CLVTSTEP
| Q1 26 | 13.5% | — | ||
| Q4 25 | 14.5% | 4.6% | ||
| Q3 25 | 18.5% | 3.5% | ||
| Q2 25 | 8.1% | 12.4% | ||
| Q1 25 | 18.6% | -18.3% | ||
| Q4 24 | 8.9% | 8.0% | ||
| Q3 24 | 20.3% | 19.3% | ||
| Q2 24 | 9.3% | 26.6% |
资本支出强度CLVTSTEP
| Q1 26 | 9.5% | — | ||
| Q4 25 | 11.5% | 0.1% | ||
| Q3 25 | 10.5% | 0.1% | ||
| Q2 25 | 10.6% | 0.3% | ||
| Q1 25 | 10.3% | 0.7% | ||
| Q4 24 | 12.4% | 0.2% | ||
| Q3 24 | 12.3% | 0.5% | ||
| Q2 24 | 10.1% | 0.3% |
现金转化率CLVTSTEP
| Q1 26 | — | — | ||
| Q4 25 | 51.58× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.05× | ||
| Q2 24 | — | 3.76× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CLVT
| Subscription | $397.5M | 68% |
| Re-occurring | $108.6M | 19% |
| Transactional | $79.4M | 14% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
