vs
Commerce.com, Inc.（CMRC）与REGIS CORP（RGS）财务数据对比。点击上方公司名可切换其他公司
Commerce.com, Inc.的季度营收约是REGIS CORP的1.6倍（$89.5M vs $57.1M），REGIS CORP净利率更高（0.8% vs -9.3%，领先10.1%），REGIS CORP同比增速更快（22.3% vs 2.9%），REGIS CORP自由现金流更多（$891.0K vs $-2.2M），过去两年REGIS CORP的营收复合增速更高（7.8% vs 5.5%）
SPS Commerce是一家总部位于美国明尼苏达州明尼阿波利斯市的科技企业，核心业务是为客户提供基于云端的供应链管理软件解决方案。公司除在美国本土设有分支机构外，还在阿姆斯特丹、北京、香港、多伦多、悉尼等全球多个城市布局了办公网点。
瑞吉斯公司是一家美国美发沙龙运营商，总部位于明尼苏达州明尼阿波利斯市。截至2021年8月，该集团旗下拥有5563家加盟沙龙以及276家直营门店，是北美地区规模领先的美发沙龙连锁经营企业。
CMRC vs RGS — 直观对比
营收规模更大
CMRC
是对方的1.6倍
$57.1M
营收增速更快
RGS
高出19.4%
2.9%
净利率更高
RGS
高出10.1%
-9.3%
自由现金流更多
RGS
多$3.1M
$-2.2M
两年增速更快
RGS
近两年复合增速
5.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $89.5M | $57.1M |
| 净利润 | $-8.4M | $456.0K |
| 毛利率 | 78.3% | — |
| 营业利润率 | -7.4% | 10.8% |
| 净利率 | -9.3% | 0.8% |
| 营收同比 | 2.9% | 22.3% |
| 净利润同比 | -250.0% | -94.0% |
| 每股收益（稀释后） | $-0.11 | $0.16 |
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CMRCRGS
| Q4 25 | $89.5M | $57.1M | ||
| Q3 25 | $86.0M | $59.0M | ||
| Q2 25 | $84.4M | $60.4M | ||
| Q1 25 | $82.4M | $57.0M | ||
| Q4 24 | $87.0M | $46.7M | ||
| Q3 24 | $83.7M | $46.1M | ||
| Q2 24 | $81.8M | $49.4M | ||
| Q1 24 | $80.4M | $49.2M |
净利润CMRCRGS
| Q4 25 | $-8.4M | $456.0K | ||
| Q3 25 | $-2.2M | $1.4M | ||
| Q2 25 | $-8.4M | $116.5M | ||
| Q1 25 | $-353.0K | $250.0K | ||
| Q4 24 | $-2.4M | $7.6M | ||
| Q3 24 | $-7.0M | $-853.0K | ||
| Q2 24 | $-11.3M | $91.2M | ||
| Q1 24 | $-6.4M | $-2.3M |
毛利率CMRCRGS
| Q4 25 | 78.3% | — | ||
| Q3 25 | 78.4% | — | ||
| Q2 25 | 79.0% | — | ||
| Q1 25 | 79.4% | — | ||
| Q4 24 | 77.6% | — | ||
| Q3 24 | 76.3% | — | ||
| Q2 24 | 75.8% | — | ||
| Q1 24 | 77.1% | — |
营业利润率CMRCRGS
| Q4 25 | -7.4% | 10.8% | ||
| Q3 25 | -0.5% | 10.0% | ||
| Q2 25 | -8.0% | 12.1% | ||
| Q1 25 | -2.9% | 8.8% | ||
| Q4 24 | -0.9% | 11.8% | ||
| Q3 24 | -23.0% | 4.6% | ||
| Q2 24 | -16.5% | — | ||
| Q1 24 | -10.2% | 8.3% |
净利率CMRCRGS
| Q4 25 | -9.3% | 0.8% | ||
| Q3 25 | -2.6% | 2.3% | ||
| Q2 25 | -9.9% | 192.9% | ||
| Q1 25 | -0.4% | 0.4% | ||
| Q4 24 | -2.7% | 16.4% | ||
| Q3 24 | -8.4% | -1.9% | ||
| Q2 24 | -13.8% | 184.7% | ||
| Q1 24 | -8.0% | -4.7% |
每股收益（稀释后）CMRCRGS
| Q4 25 | $-0.11 | $0.16 | ||
| Q3 25 | $-0.03 | $0.49 | ||
| Q2 25 | $-0.10 | $43.67 | ||
| Q1 25 | $0.00 | $0.08 | ||
| Q4 24 | $-0.03 | $2.71 | ||
| Q3 24 | $-0.09 | $-0.36 | ||
| Q2 24 | $-0.15 | $38.40 | ||
| Q1 24 | $-0.08 | $-1.00 |
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 | $141.1M | $18.4M |
| 总债务越低越好 | $157.0M | $113.3M |
| 股东权益账面价值 | $39.4M | $188.7M |
| 总资产 | $308.8M | $588.3M |
| 负债/权益比越低杠杆越低 | 3.99× | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资CMRCRGS
| Q4 25 | $141.1M | $18.4M | ||
| Q3 25 | $142.0M | $16.6M | ||
| Q2 25 | $134.5M | $17.0M | ||
| Q1 25 | $120.7M | $13.3M | ||
| Q4 24 | $178.2M | $10.2M | ||
| Q3 24 | $168.4M | $6.3M | ||
| Q2 24 | $275.8M | $10.1M | ||
| Q1 24 | $265.2M | $5.9M |
总债务CMRCRGS
| Q4 25 | $157.0M | $113.3M | ||
| Q3 25 | $157.3M | $111.3M | ||
| Q2 25 | $157.5M | $110.8M | ||
| Q1 25 | $157.8M | $112.0M | ||
| Q4 24 | $216.5M | $111.5M | ||
| Q3 24 | — | $95.2M | ||
| Q2 24 | $340.9M | $99.5M | ||
| Q1 24 | $340.5M | $179.7M |
股东权益CMRCRGS
| Q4 25 | $39.4M | $188.7M | ||
| Q3 25 | $42.8M | $187.6M | ||
| Q2 25 | $38.8M | $185.6M | ||
| Q1 25 | $38.1M | $68.6M | ||
| Q4 24 | $33.4M | $66.7M | ||
| Q3 24 | $29.0M | $56.4M | ||
| Q2 24 | $26.1M | $56.8M | ||
| Q1 24 | $26.9M | $-35.8M |
总资产CMRCRGS
| Q4 25 | $308.8M | $588.3M | ||
| Q3 25 | $309.5M | $592.1M | ||
| Q2 25 | $302.5M | $599.0M | ||
| Q1 25 | $286.3M | $511.2M | ||
| Q4 24 | $340.3M | $530.1M | ||
| Q3 24 | $335.1M | $508.9M | ||
| Q2 24 | $452.5M | $530.5M | ||
| Q1 24 | $442.5M | $543.7M |
负债/权益比CMRCRGS
| Q4 25 | 3.99× | 0.60× | ||
| Q3 25 | 3.67× | 0.59× | ||
| Q2 25 | 4.06× | 0.60× | ||
| Q1 25 | 4.14× | 1.63× | ||
| Q4 24 | 6.49× | 1.67× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | 13.06× | 1.75× | ||
| Q1 24 | 12.65× | — |
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 | $980.0K | $1.7M |
| 自由现金流经营现金流 - 资本支出 | $-2.2M | $891.0K |
| 自由现金流率自由现金流/营收 | -2.4% | 1.6% |
| 资本支出强度资本支出/营收 | 3.5% | 1.4% |
| 现金转化率经营现金流/净利润 | — | 3.65× |
| 过去12个月自由现金流最近4个季度 | $16.9M | $14.9M |
8季度趋势，按日历期对齐
经营现金流CMRCRGS
| Q4 25 | $980.0K | $1.7M | ||
| Q3 25 | $10.6M | $2.3M | ||
| Q2 25 | $13.6M | $6.8M | ||
| Q1 25 | $401.0K | $6.2M | ||
| Q4 24 | $12.4M | $2.1M | ||
| Q3 24 | $5.6M | $-1.3M | ||
| Q2 24 | $11.7M | $5.1M | ||
| Q1 24 | $-3.4M | $-277.0K |
自由现金流CMRCRGS
| Q4 25 | $-2.2M | $891.0K | ||
| Q3 25 | $7.6M | $1.9M | ||
| Q2 25 | $11.9M | $6.2M | ||
| Q1 25 | $-424.0K | $5.9M | ||
| Q4 24 | $11.6M | $1.7M | ||
| Q3 24 | $4.5M | $-1.4M | ||
| Q2 24 | $10.7M | $5.1M | ||
| Q1 24 | $-4.2M | $-326.0K |
自由现金流率CMRCRGS
| Q4 25 | -2.4% | 1.6% | ||
| Q3 25 | 8.8% | 3.2% | ||
| Q2 25 | 14.1% | 10.3% | ||
| Q1 25 | -0.5% | 10.3% | ||
| Q4 24 | 13.3% | 3.6% | ||
| Q3 24 | 5.4% | -3.0% | ||
| Q2 24 | 13.0% | 10.3% | ||
| Q1 24 | -5.3% | -0.7% |
资本支出强度CMRCRGS
| Q4 25 | 3.5% | 1.4% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | 2.0% | 0.9% | ||
| Q1 25 | 1.0% | 0.6% | ||
| Q4 24 | 0.9% | 0.9% | ||
| Q3 24 | 1.3% | 0.0% | ||
| Q2 24 | 1.3% | 0.0% | ||
| Q1 24 | 1.0% | 0.1% |
现金转化率CMRCRGS
| Q4 25 | — | 3.65× | ||
| Q3 25 | — | 1.68× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 24.80× | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.06× | ||
| Q1 24 | — | — |
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
CMRC
| Subscription And Circulation | $65.2M | 73% |
| Partner And Services | $24.4M | 27% |
RGS
| Franchise Segment | $37.9M | 66% |
| Royalty | $13.6M | 24% |
| Other | $2.8M | 5% |
| Fees | $1.8M | 3% |
| Franchise Fees | $1.0M | 2% |
