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Dayforce（DAY）与Upstart Holdings, Inc.（UPST）财务数据对比。点击上方公司名可切换其他公司
Dayforce的季度营收约是Upstart Holdings, Inc.的1.6倍（$481.6M vs $296.1M），Upstart Holdings, Inc.净利率更高（6.3% vs -40.9%，领先47.2%），Upstart Holdings, Inc.同比增速更快（35.2% vs 9.5%），过去两年Upstart Holdings, Inc.的营收复合增速更高（52.2% vs 9.8%）
Dayforce前身为知名人力资源服务商Ceridian，是一家总部位于美国的人力资源软件及服务企业，面向各行业不同规模的客户提供覆盖薪酬核算、人员管理、考勤等多场景的HR SaaS产品及配套专业服务，助力企业提升人力资源运营效率。
Upstart是一家AI信贷平台服务商，与银行及信用合作社合作，将教育背景、就业情况等非传统指标纳入信用评估模型，更精准地预测借款人的信用状况，为用户提供消费贷款服务，助力金融机构提升信贷效率、扩大服务覆盖范围。
DAY vs UPST — 直观对比
营收规模更大
DAY
是对方的1.6倍
$296.1M
营收增速更快
UPST
高出25.8%
9.5%
净利率更高
UPST
高出47.2%
-40.9%
两年增速更快
UPST
近两年复合增速
9.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $481.6M | $296.1M |
| 净利润 | $-196.8M | $18.6M |
| 毛利率 | — | — |
| 营业利润率 | 6.3% | 6.4% |
| 净利率 | -40.9% | 6.3% |
| 营收同比 | 9.5% | 35.2% |
| 净利润同比 | -9940.0% | 776.4% |
| 每股收益（稀释后） | $-1.23 | $0.20 |
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DAYUPST
| Q4 25 | — | $296.1M | ||
| Q3 25 | $481.6M | $277.1M | ||
| Q2 25 | $464.7M | $257.3M | ||
| Q1 25 | $481.8M | $213.4M | ||
| Q4 24 | $465.2M | $219.0M | ||
| Q3 24 | $440.0M | $162.1M | ||
| Q2 24 | $423.3M | $127.6M | ||
| Q1 24 | $431.5M | $127.8M |
净利润DAYUPST
| Q4 25 | — | $18.6M | ||
| Q3 25 | $-196.8M | $31.8M | ||
| Q2 25 | $21.3M | $5.6M | ||
| Q1 25 | $14.9M | $-2.4M | ||
| Q4 24 | $10.8M | $-2.8M | ||
| Q3 24 | $2.0M | $-6.8M | ||
| Q2 24 | $-1.8M | $-54.5M | ||
| Q1 24 | $7.1M | $-64.6M |
毛利率DAYUPST
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 47.0% | — | ||
| Q3 24 | 45.8% | — | ||
| Q2 24 | 44.1% | — | ||
| Q1 24 | 47.6% | — |
营业利润率DAYUPST
| Q4 25 | — | 6.4% | ||
| Q3 25 | 6.3% | 8.5% | ||
| Q2 25 | 9.1% | 1.8% | ||
| Q1 25 | 6.4% | -2.1% | ||
| Q4 24 | 6.1% | -2.2% | ||
| Q3 24 | 4.7% | -27.8% | ||
| Q2 24 | 3.3% | -43.5% | ||
| Q1 24 | 9.4% | -52.8% |
净利率DAYUPST
| Q4 25 | — | 6.3% | ||
| Q3 25 | -40.9% | 11.5% | ||
| Q2 25 | 4.6% | 2.2% | ||
| Q1 25 | 3.1% | -1.1% | ||
| Q4 24 | 2.3% | -1.3% | ||
| Q3 24 | 0.5% | -4.2% | ||
| Q2 24 | -0.4% | -42.7% | ||
| Q1 24 | 1.6% | -50.5% |
每股收益（稀释后）DAYUPST
| Q4 25 | — | $0.20 | ||
| Q3 25 | $-1.23 | $0.23 | ||
| Q2 25 | $0.13 | $0.05 | ||
| Q1 25 | $0.09 | $-0.03 | ||
| Q4 24 | $0.07 | $-0.01 | ||
| Q3 24 | $0.01 | $-0.07 | ||
| Q2 24 | $-0.01 | $-0.62 | ||
| Q1 24 | $0.04 | $-0.74 |
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 | $627.6M | $652.4M |
| 总债务越低越好 | $631.1M | — |
| 股东权益账面价值 | $2.7B | $798.8M |
| 总资产 | $8.7B | $3.0B |
| 负债/权益比越低杠杆越低 | 0.23× | — |
8季度趋势，按日历期对齐
现金及短期投资DAYUPST
| Q4 25 | — | $652.4M | ||
| Q3 25 | $627.6M | $489.8M | ||
| Q2 25 | $625.2M | $395.9M | ||
| Q1 25 | $557.3M | $599.8M | ||
| Q4 24 | $579.7M | $788.4M | ||
| Q3 24 | $494.1M | — | ||
| Q2 24 | $465.4M | — | ||
| Q1 24 | $392.5M | — |
总债务DAYUPST
| Q4 25 | — | — | ||
| Q3 25 | $631.1M | — | ||
| Q2 25 | $631.8M | — | ||
| Q1 25 | $632.4M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
股东权益DAYUPST
| Q4 25 | — | $798.8M | ||
| Q3 25 | $2.7B | $743.7M | ||
| Q2 25 | $2.7B | $722.0M | ||
| Q1 25 | $2.6B | $676.6M | ||
| Q4 24 | $2.5B | $633.2M | ||
| Q3 24 | $2.6B | $595.5M | ||
| Q2 24 | $2.5B | $594.7M | ||
| Q1 24 | $2.4B | $612.8M |
总资产DAYUPST
| Q4 25 | — | $3.0B | ||
| Q3 25 | $8.7B | $2.9B | ||
| Q2 25 | $8.5B | $2.5B | ||
| Q1 25 | $9.5B | $2.3B | ||
| Q4 24 | $9.1B | $2.4B | ||
| Q3 24 | $8.1B | $1.8B | ||
| Q2 24 | $9.0B | $1.8B | ||
| Q1 24 | $10.8B | $1.9B |
负债/权益比DAYUPST
| Q4 25 | — | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.24× | — | ||
| Q4 24 | 0.47× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.49× | — | ||
| Q1 24 | 0.50× | — |
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 | $31.2M | $108.6M |
| 自由现金流经营现金流 - 资本支出 | — | $108.4M |
| 自由现金流率自由现金流/营收 | — | 36.6% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | — | 5.82× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DAYUPST
| Q4 25 | — | $108.6M | ||
| Q3 25 | $31.2M | $-122.6M | ||
| Q2 25 | $112.7M | $-120.2M | ||
| Q1 25 | $49.6M | $-13.5M | ||
| Q4 24 | $81.0M | $-110.9M | ||
| Q3 24 | $91.8M | $179.3M | ||
| Q2 24 | $99.2M | $65.3M | ||
| Q1 24 | $9.1M | $52.6M |
自由现金流DAYUPST
| Q4 25 | — | $108.4M | ||
| Q3 25 | — | $-122.7M | ||
| Q2 25 | — | $-120.3M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $179.2M | ||
| Q2 24 | — | $65.3M | ||
| Q1 24 | — | $51.9M |
自由现金流率DAYUPST
| Q4 25 | — | 36.6% | ||
| Q3 25 | — | -44.3% | ||
| Q2 25 | — | -46.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 110.5% | ||
| Q2 24 | — | 51.1% | ||
| Q1 24 | — | 40.6% |
资本支出强度DAYUPST
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.5% |
现金转化率DAYUPST
| Q4 25 | — | 5.82× | ||
| Q3 25 | — | -3.86× | ||
| Q2 25 | 5.29× | -21.43× | ||
| Q1 25 | 3.33× | — | ||
| Q4 24 | 7.50× | — | ||
| Q3 24 | 45.90× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.28× | — |
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
DAY
| Dayforce Recurring | $333.0M | 69% |
| Cloud And Bureau Professional Services And Other | $78.5M | 16% |
| Float | $42.2M | 9% |
| Powerpay Recurring | $19.7M | 4% |
| Other Recurring | $8.2M | 2% |
UPST
| Personal Lending Segment | $201.4M | 68% |
| Servicing Fees Net | $39.5M | 13% |
| Servicing Fees | $27.5M | 9% |
| Other | $15.7M | 5% |
| Borrower Fees | $8.4M | 3% |
| Collection Agency Fees | $3.5M | 1% |
