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CREATIVE REALITIES, INC.（CREX）与Waystar Holding Corp.（WAY）财务数据对比。点击上方公司名可切换其他公司
Waystar Holding Corp.的季度营收约是CREATIVE REALITIES, INC.的12.7倍（$303.5M vs $23.9M）。Waystar Holding Corp.净利率更高（6.6% vs -8.2%，领先14.8%）。CREATIVE REALITIES, INC.同比增速更快（117.2% vs 24.3%）。Waystar Holding Corp.自由现金流更多（$57.2M vs $-4.6M）。过去两年CREATIVE REALITIES, INC.的营收复合增速更高（39.5% vs 16.2%）
Creative Realities, Inc.是一家端到端沉浸式数字体验解决方案提供商，主营互动数字标牌、内容管理软件及定制体验设计服务，主要面向北美零售、酒店、医疗、企业办公及公共领域客户，助力品牌提升客户参与度与运营效率。
Waystar Holding Corp是一家领先的医疗健康支付与营收周期管理解决方案提供商，服务覆盖美国各地的医疗机构、医疗系统和支付方，旗下工具可简化账单处理、理赔申请、患者缴费流程，帮助医疗机构降低行政负担、优化营收表现。
CREX vs WAY — 直观对比
营收规模更大
WAY
是对方的12.7倍
$23.9M
营收增速更快
CREX
高出92.9%
24.3%
净利率更高
WAY
高出14.8%
-8.2%
自由现金流更多
WAY
多$61.8M
$-4.6M
两年增速更快
CREX
近两年复合增速
16.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $23.9M | $303.5M |
| 净利润 | $-2.0M | $20.0M |
| 毛利率 | 47.9% | — |
| 营业利润率 | 1.9% | 19.4% |
| 净利率 | -8.2% | 6.6% |
| 营收同比 | 117.2% | 24.3% |
| 净利润同比 | 30.8% | 4.8% |
| 每股收益（稀释后） | — | $0.10 |
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CREXWAY
| Q4 25 | $23.9M | $303.5M | ||
| Q3 25 | $10.5M | $268.7M | ||
| Q2 25 | $13.0M | $270.7M | ||
| Q1 25 | $9.7M | $256.4M | ||
| Q4 24 | $11.0M | $244.1M | ||
| Q3 24 | $14.4M | $240.1M | ||
| Q2 24 | $13.1M | $234.5M | ||
| Q1 24 | $12.3M | $224.8M |
净利润CREXWAY
| Q4 25 | $-2.0M | $20.0M | ||
| Q3 25 | $-7.9M | $30.6M | ||
| Q2 25 | $-1.8M | $32.2M | ||
| Q1 25 | $3.4M | $29.3M | ||
| Q4 24 | $-2.8M | $19.1M | ||
| Q3 24 | $54.0K | $5.4M | ||
| Q2 24 | $-615.0K | $-27.7M | ||
| Q1 24 | $-109.0K | $-15.9M |
毛利率CREXWAY
| Q4 25 | 47.9% | — | ||
| Q3 25 | 45.3% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 45.7% | — | ||
| Q4 24 | 44.2% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 51.8% | — | ||
| Q1 24 | 46.9% | — |
营业利润率CREXWAY
| Q4 25 | 1.9% | 19.4% | ||
| Q3 25 | -68.9% | 22.4% | ||
| Q2 25 | -10.2% | 24.0% | ||
| Q1 25 | -7.4% | 25.4% | ||
| Q4 24 | -6.5% | 21.8% | ||
| Q3 24 | 7.9% | 11.3% | ||
| Q2 24 | 4.5% | 3.5% | ||
| Q1 24 | -0.6% | 15.7% |
净利率CREXWAY
| Q4 25 | -8.2% | 6.6% | ||
| Q3 25 | -74.5% | 11.4% | ||
| Q2 25 | -13.9% | 11.9% | ||
| Q1 25 | 34.6% | 11.4% | ||
| Q4 24 | -25.8% | 7.8% | ||
| Q3 24 | 0.4% | 2.3% | ||
| Q2 24 | -4.7% | -11.8% | ||
| Q1 24 | -0.9% | -7.1% |
每股收益（稀释后）CREXWAY
| Q4 25 | — | $0.10 | ||
| Q3 25 | $-0.75 | $0.17 | ||
| Q2 25 | $-0.17 | $0.18 | ||
| Q1 25 | $0.32 | $0.16 | ||
| Q4 24 | $-0.28 | $0.18 | ||
| Q3 24 | $0.01 | $0.03 | ||
| Q2 24 | $-0.06 | $-0.21 | ||
| Q1 24 | $-0.01 | $-0.13 |
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 | $1.6M | $61.4M |
| 总债务越低越好 | $44.0M | $1.5B |
| 股东权益账面价值 | $21.5M | $3.9B |
| 总资产 | $151.0M | $5.8B |
| 负债/权益比越低杠杆越低 | 2.04× | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资CREXWAY
| Q4 25 | $1.6M | $61.4M | ||
| Q3 25 | $314.0K | $421.1M | ||
| Q2 25 | $569.0K | $290.3M | ||
| Q1 25 | $1.1M | $224.0M | ||
| Q4 24 | $1.0M | $182.1M | ||
| Q3 24 | $868.0K | $127.1M | ||
| Q2 24 | $4.1M | $68.4M | ||
| Q1 24 | $2.9M | $57.3M |
总债务CREXWAY
| Q4 25 | $44.0M | $1.5B | ||
| Q3 25 | $22.0M | — | ||
| Q2 25 | $19.9M | — | ||
| Q1 25 | $23.0M | — | ||
| Q4 24 | $13.0M | $1.2B | ||
| Q3 24 | $10.7M | — | ||
| Q2 24 | $13.6M | — | ||
| Q1 24 | $12.8M | — |
股东权益CREXWAY
| Q4 25 | $21.5M | $3.9B | ||
| Q3 25 | $21.9M | $3.2B | ||
| Q2 25 | $29.4M | $3.2B | ||
| Q1 25 | $29.9M | $3.1B | ||
| Q4 24 | $25.5M | $3.1B | ||
| Q3 24 | $28.3M | $3.1B | ||
| Q2 24 | $28.2M | $2.9B | ||
| Q1 24 | $28.8M | $2.0B |
总资产CREXWAY
| Q4 25 | $151.0M | $5.8B | ||
| Q3 25 | $61.3M | $4.7B | ||
| Q2 25 | $63.7M | $4.7B | ||
| Q1 25 | $67.0M | $4.6B | ||
| Q4 24 | $65.2M | $4.6B | ||
| Q3 24 | $67.6M | $4.5B | ||
| Q2 24 | $69.6M | $4.6B | ||
| Q1 24 | $68.2M | — |
负债/权益比CREXWAY
| Q4 25 | 2.04× | 0.38× | ||
| Q3 25 | 1.00× | — | ||
| Q2 25 | 0.68× | — | ||
| Q1 25 | 0.77× | — | ||
| Q4 24 | 0.51× | 0.40× | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | 0.48× | — | ||
| Q1 24 | 0.44× | — |
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 | $-4.5M | $66.6M |
| 自由现金流经营现金流 - 资本支出 | $-4.6M | $57.2M |
| 自由现金流率自由现金流/营收 | -19.1% | 18.9% |
| 资本支出强度资本支出/营收 | 0.4% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 3.33× |
| 过去12个月自由现金流最近4个季度 | $-8.1M | $283.2M |
8季度趋势，按日历期对齐
经营现金流CREXWAY
| Q4 25 | $-4.5M | $66.6M | ||
| Q3 25 | $-1.6M | $82.0M | ||
| Q2 25 | $773.0K | $96.8M | ||
| Q1 25 | $-2.4M | $64.2M | ||
| Q4 24 | $-1.4M | — | ||
| Q3 24 | $544.0K | $78.8M | ||
| Q2 24 | $2.3M | $15.4M | ||
| Q1 24 | $1.9M | $10.7M |
自由现金流CREXWAY
| Q4 25 | $-4.6M | $57.2M | ||
| Q3 25 | $-1.7M | $76.2M | ||
| Q2 25 | $672.0K | $91.0M | ||
| Q1 25 | $-2.5M | $58.8M | ||
| Q4 24 | $-1.4M | — | ||
| Q3 24 | $543.0K | $70.2M | ||
| Q2 24 | $2.3M | $8.6M | ||
| Q1 24 | $1.9M | $5.2M |
自由现金流率CREXWAY
| Q4 25 | -19.1% | 18.9% | ||
| Q3 25 | -16.2% | 28.3% | ||
| Q2 25 | 5.2% | 33.6% | ||
| Q1 25 | -25.2% | 22.9% | ||
| Q4 24 | -12.5% | — | ||
| Q3 24 | 3.8% | 29.2% | ||
| Q2 24 | 17.3% | 3.7% | ||
| Q1 24 | 15.7% | 2.3% |
资本支出强度CREXWAY
| Q4 25 | 0.4% | 3.1% | ||
| Q3 25 | 1.0% | 2.2% | ||
| Q2 25 | 0.8% | 2.1% | ||
| Q1 25 | 0.1% | 2.1% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | 3.6% | ||
| Q2 24 | 0.0% | 2.9% | ||
| Q1 24 | 0.0% | 2.5% |
现金转化率CREXWAY
| Q4 25 | — | 3.33× | ||
| Q3 25 | — | 2.68× | ||
| Q2 25 | — | 3.01× | ||
| Q1 25 | -0.73× | 2.20× | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.07× | 14.56× | ||
| Q2 24 | — | — | ||
| 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
CREX
| Service And Other | $17.3M | 72% |
| Managed Services | $4.7M | 20% |
| Installation Services | $1.7M | 7% |
WAY
| Subscription And Circulation | $167.8M | 55% |
| Volume Based Revenue | $134.2M | 44% |
| Implementation Services And Other Revenue | $1.5M | 1% |
