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Core Scientific, Inc.（CORZ）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
Core Scientific, Inc.的季度营收约是Repay Holdings Corp的1.0倍（$79.8M vs $78.6M），Core Scientific, Inc.净利率更高（268.5% vs -178.3%，领先446.8%），Repay Holdings Corp同比增速更快（0.4% vs -16.0%），Repay Holdings Corp自由现金流更多（$23.2M vs $-450.8M），过去两年Repay Holdings Corp的营收复合增速更高（-1.3% vs -33.3%）
Core Scientific是全球领先的数字资产与高性能计算基础设施服务商，在北美多地运营高能效大型数据中心，主营加密货币挖矿业务，同时为区块链、人工智能领域客户提供托管及定制化算力解决方案。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
CORZ vs RPAY — 直观对比
营收规模更大
CORZ
是对方的1.0倍
$78.6M
营收增速更快
RPAY
高出16.4%
-16.0%
净利率更高
CORZ
高出446.8%
-178.3%
自由现金流更多
RPAY
多$474.0M
$-450.8M
两年增速更快
RPAY
近两年复合增速
-33.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $79.8M | $78.6M |
| 净利润 | $214.2M | $-140.1M |
| 毛利率 | 26.0% | 74.2% |
| 营业利润率 | -149.5% | -182.2% |
| 净利率 | 268.5% | -178.3% |
| 营收同比 | -16.0% | 0.4% |
| 净利润同比 | 180.6% | -3304.1% |
| 每股收益（稀释后） | $-1.63 | $-1.68 |
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CORZRPAY
| Q4 25 | $79.8M | $78.6M | ||
| Q3 25 | $81.1M | $77.7M | ||
| Q2 25 | $78.6M | $75.6M | ||
| Q1 25 | $79.5M | $77.3M | ||
| Q4 24 | $94.9M | $78.3M | ||
| Q3 24 | $95.4M | $79.1M | ||
| Q2 24 | $141.1M | $74.9M | ||
| Q1 24 | $179.3M | $80.7M |
净利润CORZRPAY
| Q4 25 | $214.2M | $-140.1M | ||
| Q3 25 | $-144.0M | $-6.4M | ||
| Q2 25 | $-936.8M | $-102.3M | ||
| Q1 25 | $576.3M | $-7.9M | ||
| Q4 24 | $-265.5M | $-4.1M | ||
| Q3 24 | $-455.3M | $3.2M | ||
| Q2 24 | $-902.2M | $-4.1M | ||
| Q1 24 | $210.7M | $-5.2M |
毛利率CORZRPAY
| Q4 25 | 26.0% | 74.2% | ||
| Q3 25 | 4.8% | 74.4% | ||
| Q2 25 | 6.4% | 75.7% | ||
| Q1 25 | 10.3% | 75.9% | ||
| Q4 24 | 5.0% | 76.3% | ||
| Q3 24 | -0.2% | 77.8% | ||
| Q2 24 | 27.5% | 78.2% | ||
| Q1 24 | 43.3% | 76.2% |
营业利润率CORZRPAY
| Q4 25 | -149.5% | -182.2% | ||
| Q3 25 | -67.6% | -3.9% | ||
| Q2 25 | -33.4% | -138.7% | ||
| Q1 25 | -59.1% | -4.7% | ||
| Q4 24 | -41.9% | -1.5% | ||
| Q3 24 | -43.2% | -0.9% | ||
| Q2 24 | -64.3% | -4.6% | ||
| Q1 24 | 30.8% | -3.1% |
净利率CORZRPAY
| Q4 25 | 268.5% | -178.3% | ||
| Q3 25 | -177.6% | -8.3% | ||
| Q2 25 | -1191.4% | -135.2% | ||
| Q1 25 | 724.6% | -10.3% | ||
| Q4 24 | -279.7% | -5.3% | ||
| Q3 24 | -477.4% | 4.1% | ||
| Q2 24 | -639.4% | -5.4% | ||
| Q1 24 | 117.5% | -6.5% |
每股收益（稀释后）CORZRPAY
| Q4 25 | $-1.63 | $-1.68 | ||
| Q3 25 | $-0.45 | $-0.08 | ||
| Q2 25 | $-0.04 | $-1.15 | ||
| Q1 25 | $1.24 | $-0.09 | ||
| Q4 24 | $0.51 | $-0.04 | ||
| Q3 24 | $-1.17 | $0.03 | ||
| Q2 24 | $-5.05 | $-0.04 | ||
| Q1 24 | $0.78 | $-0.06 |
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 | $311.4M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $-962.7M | $484.4M |
| 总资产 | $2.3B | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资CORZRPAY
| Q4 25 | $311.4M | $115.7M | ||
| Q3 25 | $453.4M | $95.7M | ||
| Q2 25 | $581.3M | $162.6M | ||
| Q1 25 | $697.9M | $165.5M | ||
| Q4 24 | $836.2M | $189.5M | ||
| Q3 24 | $253.0M | $168.7M | ||
| Q2 24 | $96.1M | $147.1M | ||
| Q1 24 | $98.1M | $128.3M |
总债务CORZRPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益CORZRPAY
| Q4 25 | $-962.7M | $484.4M | ||
| Q3 25 | $-1.3B | $616.9M | ||
| Q2 25 | $-1.2B | $633.7M | ||
| Q1 25 | $-308.8M | $755.7M | ||
| Q4 24 | $-943.0M | $761.3M | ||
| Q3 24 | $-826.7M | $754.7M | ||
| Q2 24 | $-1.2B | $815.4M | ||
| Q1 24 | $-318.5M | $813.8M |
总资产CORZRPAY
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $2.2B | $1.3B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.5B | $1.5B | ||
| Q4 24 | $1.5B | $1.6B | ||
| Q3 24 | $824.6M | $1.6B | ||
| Q2 24 | $664.2M | $1.5B | ||
| Q1 24 | $814.0M | $1.5B |
负债/权益比CORZRPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $278.3M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-450.8M | $23.2M |
| 自由现金流率自由现金流/营收 | -565.1% | 29.6% |
| 资本支出强度资本支出/营收 | 914.0% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.30× | — |
| 过去12个月自由现金流最近4个季度 | $-779.8M | $90.7M |
8季度趋势，按日历期对齐
经营现金流CORZRPAY
| Q4 25 | $278.3M | $23.3M | ||
| Q3 25 | $131.8M | $32.2M | ||
| Q2 25 | $34.0M | $33.1M | ||
| Q1 25 | $-45.0M | $2.5M | ||
| Q4 24 | $42.9M | $34.3M | ||
| Q3 24 | $5.7M | $60.1M | ||
| Q2 24 | $1.2M | $31.0M | ||
| Q1 24 | $22.2M | $24.8M |
自由现金流CORZRPAY
| Q4 25 | $-450.8M | $23.2M | ||
| Q3 25 | $-112.7M | $32.1M | ||
| Q2 25 | $-87.3M | $33.0M | ||
| Q1 25 | $-129.0M | $2.4M | ||
| Q4 24 | $-52.1M | $34.0M | ||
| Q3 24 | $-25.5M | $59.8M | ||
| Q2 24 | $-1.9M | $30.5M | ||
| Q1 24 | $-9.7M | $24.7M |
自由现金流率CORZRPAY
| Q4 25 | -565.1% | 29.6% | ||
| Q3 25 | -139.0% | 41.3% | ||
| Q2 25 | -111.0% | 43.6% | ||
| Q1 25 | -162.2% | 3.0% | ||
| Q4 24 | -54.8% | 43.5% | ||
| Q3 24 | -26.7% | 75.6% | ||
| Q2 24 | -1.4% | 40.7% | ||
| Q1 24 | -5.4% | 30.6% |
资本支出强度CORZRPAY
| Q4 25 | 914.0% | 0.1% | ||
| Q3 25 | 301.5% | 0.2% | ||
| Q2 25 | 154.2% | 0.1% | ||
| Q1 25 | 105.6% | 0.2% | ||
| Q4 24 | 100.0% | 0.3% | ||
| Q3 24 | 32.7% | 0.3% | ||
| Q2 24 | 2.2% | 0.6% | ||
| Q1 24 | 17.8% | 0.1% |
现金转化率CORZRPAY
| Q4 25 | 1.30× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.11× | — |
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
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
