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Commerce.com, Inc.（CMRC）与RCI HOSPITALITY HOLDINGS, INC.（RICK）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RCI HOSPITALITY HOLDINGS, INC.的1.3倍（$89.5M vs $70.9M），RCI HOSPITALITY HOLDINGS, INC.净利率更高（-7.8% vs -9.3%，领先1.6%），Commerce.com, Inc.同比增速更快（2.9% vs -3.1%），RCI HOSPITALITY HOLDINGS, INC.自由现金流更多（$11.5M vs $-2.2M），过去两年Commerce.com, Inc.的营收复合增速更高（5.5% vs -2.0%）
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。
RCI Hospitality控股通过子公司经营脱衣舞俱乐部、夜总会、运动酒吧与餐厅，同时还运营一家为成人俱乐部行业提供服务的传媒会展企业。公司于1995年完成首次公开募股上市，目前在纳斯达克全球市场挂牌交易。
CMRC vs RICK — 直观对比
营收规模更大
CMRC
是对方的1.3倍
$70.9M
营收增速更快
CMRC
高出6.0%
-3.1%
净利率更高
RICK
高出1.6%
-9.3%
自由现金流更多
RICK
多$13.7M
$-2.2M
两年增速更快
CMRC
近两年复合增速
-2.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $89.5M | $70.9M |
| 净利润 | $-8.4M | $-5.5M |
| 毛利率 | 78.3% | — |
| 营业利润率 | -7.4% | -0.7% |
| 净利率 | -9.3% | -7.8% |
| 营收同比 | 2.9% | -3.1% |
| 净利润同比 | -250.0% | -2354.9% |
| 每股收益（稀释后） | $-0.11 | $-0.60 |
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CMRCRICK
| Q4 25 | $89.5M | — | ||
| Q3 25 | $86.0M | $70.9M | ||
| Q2 25 | $84.4M | $71.1M | ||
| Q1 25 | $82.4M | $65.9M | ||
| Q4 24 | $87.0M | $71.5M | ||
| Q3 24 | $83.7M | $73.2M | ||
| Q2 24 | $81.8M | $76.2M | ||
| Q1 24 | $80.4M | $72.3M |
净利润CMRCRICK
| Q4 25 | $-8.4M | — | ||
| Q3 25 | $-2.2M | $-5.5M | ||
| Q2 25 | $-8.4M | $4.1M | ||
| Q1 25 | $-353.0K | $3.2M | ||
| Q4 24 | $-2.4M | $9.0M | ||
| Q3 24 | $-7.0M | $244.0K | ||
| Q2 24 | $-11.3M | $-5.2M | ||
| Q1 24 | $-6.4M | $774.0K |
毛利率CMRCRICK
| 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CMRCRICK
| Q4 25 | -7.4% | — | ||
| Q3 25 | -0.5% | -0.7% | ||
| Q2 25 | -8.0% | 12.2% | ||
| Q1 25 | -2.9% | 12.4% | ||
| Q4 24 | -0.9% | 19.5% | ||
| Q3 24 | -23.0% | 4.8% | ||
| Q2 24 | -16.5% | -3.3% | ||
| Q1 24 | -10.2% | 6.4% |
净利率CMRCRICK
| Q4 25 | -9.3% | — | ||
| Q3 25 | -2.6% | -7.8% | ||
| Q2 25 | -9.9% | 5.7% | ||
| Q1 25 | -0.4% | 4.9% | ||
| Q4 24 | -2.7% | 12.6% | ||
| Q3 24 | -8.4% | 0.3% | ||
| Q2 24 | -13.8% | -6.9% | ||
| Q1 24 | -8.0% | 1.1% |
每股收益（稀释后）CMRCRICK
| Q4 25 | $-0.11 | — | ||
| Q3 25 | $-0.03 | $-0.60 | ||
| Q2 25 | $-0.10 | $0.46 | ||
| Q1 25 | $0.00 | $0.36 | ||
| Q4 24 | $-0.03 | $1.01 | ||
| Q3 24 | $-0.09 | $0.04 | ||
| Q2 24 | $-0.15 | $-0.56 | ||
| Q1 24 | $-0.08 | $0.08 |
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 | $33.7M |
| 总债务越低越好 | $157.0M | $238.2M |
| 股东权益账面价值 | $39.4M | $261.1M |
| 总资产 | $308.8M | $596.9M |
| 负债/权益比越低杠杆越低 | 3.99× | 0.91× |
8季度趋势，按日历期对齐
现金及短期投资CMRCRICK
| Q4 25 | $141.1M | — | ||
| Q3 25 | $142.0M | $33.7M | ||
| Q2 25 | $134.5M | $29.3M | ||
| Q1 25 | $120.7M | $32.7M | ||
| Q4 24 | $178.2M | $34.7M | ||
| Q3 24 | $168.4M | $32.4M | ||
| Q2 24 | $275.8M | $34.9M | ||
| Q1 24 | $265.2M | $20.0M |
总债务CMRCRICK
| Q4 25 | $157.0M | — | ||
| Q3 25 | $157.3M | $238.2M | ||
| Q2 25 | $157.5M | $243.8M | ||
| Q1 25 | $157.8M | $244.1M | ||
| Q4 24 | $216.5M | — | ||
| Q3 24 | — | $241.1M | ||
| Q2 24 | $340.9M | — | ||
| Q1 24 | $340.5M | — |
股东权益CMRCRICK
| Q4 25 | $39.4M | — | ||
| Q3 25 | $42.8M | $261.1M | ||
| Q2 25 | $38.8M | $269.5M | ||
| Q1 25 | $38.1M | $268.8M | ||
| Q4 24 | $33.4M | $269.0M | ||
| Q3 24 | $29.0M | $263.4M | ||
| Q2 24 | $26.1M | $271.2M | ||
| Q1 24 | $26.9M | $285.8M |
总资产CMRCRICK
| Q4 25 | $308.8M | — | ||
| Q3 25 | $309.5M | $596.9M | ||
| Q2 25 | $302.5M | $597.4M | ||
| Q1 25 | $286.3M | $589.8M | ||
| Q4 24 | $340.3M | $586.2M | ||
| Q3 24 | $335.1M | $584.4M | ||
| Q2 24 | $452.5M | $601.0M | ||
| Q1 24 | $442.5M | $609.9M |
负债/权益比CMRCRICK
| Q4 25 | 3.99× | — | ||
| Q3 25 | 3.67× | 0.91× | ||
| Q2 25 | 4.06× | 0.90× | ||
| Q1 25 | 4.14× | 0.91× | ||
| Q4 24 | 6.49× | — | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | 13.06× | — | ||
| 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 | $13.7M |
| 自由现金流经营现金流 - 资本支出 | $-2.2M | $11.5M |
| 自由现金流率自由现金流/营收 | -2.4% | 16.2% |
| 资本支出强度资本支出/营收 | 3.5% | 3.2% |
| 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 | $16.9M | $34.9M |
8季度趋势，按日历期对齐
经营现金流CMRCRICK
| Q4 25 | $980.0K | — | ||
| Q3 25 | $10.6M | $13.7M | ||
| Q2 25 | $13.6M | $13.8M | ||
| Q1 25 | $401.0K | $8.5M | ||
| Q4 24 | $12.4M | $13.3M | ||
| Q3 24 | $5.6M | $15.7M | ||
| Q2 24 | $11.7M | $15.8M | ||
| Q1 24 | $-3.4M | $10.8M |
自由现金流CMRCRICK
| Q4 25 | $-2.2M | — | ||
| Q3 25 | $7.6M | $11.5M | ||
| Q2 25 | $11.9M | $10.1M | ||
| Q1 25 | $-424.0K | $5.7M | ||
| Q4 24 | $11.6M | $7.6M | ||
| Q3 24 | $4.5M | $10.3M | ||
| Q2 24 | $10.7M | $9.3M | ||
| Q1 24 | $-4.2M | $3.2M |
自由现金流率CMRCRICK
| Q4 25 | -2.4% | — | ||
| Q3 25 | 8.8% | 16.2% | ||
| Q2 25 | 14.1% | 14.2% | ||
| Q1 25 | -0.5% | 8.6% | ||
| Q4 24 | 13.3% | 10.6% | ||
| Q3 24 | 5.4% | 14.0% | ||
| Q2 24 | 13.0% | 12.3% | ||
| Q1 24 | -5.3% | 4.4% |
资本支出强度CMRCRICK
| Q4 25 | 3.5% | — | ||
| Q3 25 | 3.4% | 3.2% | ||
| Q2 25 | 2.0% | 5.2% | ||
| Q1 25 | 1.0% | 4.3% | ||
| Q4 24 | 0.9% | 8.0% | ||
| Q3 24 | 1.3% | 7.3% | ||
| Q2 24 | 1.3% | 8.4% | ||
| Q1 24 | 1.0% | 10.6% |
现金转化率CMRCRICK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.40× | ||
| Q1 25 | — | 2.65× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 64.14× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 14.00× |
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% |
RICK
| Transferred At Point In Time | $60.8M | 86% |
| Food And Merchandise | $10.4M | 15% |
