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Dayforce（DAY）与UNITED THERAPEUTICS Corp（UTHR）财务数据对比。点击上方公司名可切换其他公司
UNITED THERAPEUTICS Corp的季度营收约是Dayforce的1.6倍（$790.2M vs $481.6M），UNITED THERAPEUTICS Corp净利率更高（46.1% vs -40.9%，领先87.0%），Dayforce同比增速更快（9.5% vs 7.4%），过去两年Dayforce的营收复合增速更高（9.8% vs 8.0%）
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。
United Therapeutics是美国生物技术企业，专注开发包含异种移植在内的器官移植相关药物与技术，多款产品布局肺部疾病及器官制造赛道，双总部位于马里兰州银泉与北卡罗来纳州三角研究园，在美加多地设有研发及运营分支机构。
DAY vs UTHR — 直观对比
营收规模更大
UTHR
是对方的1.6倍
$481.6M
营收增速更快
DAY
高出2.1%
7.4%
净利率更高
UTHR
高出87.0%
-40.9%
两年增速更快
DAY
近两年复合增速
8.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $481.6M | $790.2M |
| 净利润 | $-196.8M | $364.3M |
| 毛利率 | — | 86.9% |
| 营业利润率 | 6.3% | 45.1% |
| 净利率 | -40.9% | 46.1% |
| 营收同比 | 9.5% | 7.4% |
| 净利润同比 | -9940.0% | 20.9% |
| 每股收益（稀释后） | $-1.23 | $7.66 |
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DAYUTHR
| Q4 25 | — | $790.2M | ||
| Q3 25 | $481.6M | $799.5M | ||
| Q2 25 | $464.7M | $798.6M | ||
| Q1 25 | $481.8M | $794.4M | ||
| Q4 24 | $465.2M | $735.9M | ||
| Q3 24 | $440.0M | $748.9M | ||
| Q2 24 | $423.3M | $714.9M | ||
| Q1 24 | $431.5M | $677.7M |
净利润DAYUTHR
| Q4 25 | — | $364.3M | ||
| Q3 25 | $-196.8M | $338.7M | ||
| Q2 25 | $21.3M | $309.5M | ||
| Q1 25 | $14.9M | $322.2M | ||
| Q4 24 | $10.8M | $301.3M | ||
| Q3 24 | $2.0M | $309.1M | ||
| Q2 24 | $-1.8M | $278.1M | ||
| Q1 24 | $7.1M | $306.6M |
毛利率DAYUTHR
| Q4 25 | — | 86.9% | ||
| Q3 25 | — | 87.4% | ||
| Q2 25 | — | 89.0% | ||
| Q1 25 | — | 88.4% | ||
| Q4 24 | 47.0% | 89.7% | ||
| Q3 24 | 45.8% | 88.9% | ||
| Q2 24 | 44.1% | 89.1% | ||
| Q1 24 | 47.6% | 89.2% |
营业利润率DAYUTHR
| Q4 25 | — | 45.1% | ||
| Q3 25 | 6.3% | 48.6% | ||
| Q2 25 | 9.1% | 45.6% | ||
| Q1 25 | 6.4% | 48.2% | ||
| Q4 24 | 6.1% | 48.6% | ||
| Q3 24 | 4.7% | 45.8% | ||
| Q2 24 | 3.3% | 44.7% | ||
| Q1 24 | 9.4% | 52.6% |
净利率DAYUTHR
| Q4 25 | — | 46.1% | ||
| Q3 25 | -40.9% | 42.4% | ||
| Q2 25 | 4.6% | 38.8% | ||
| Q1 25 | 3.1% | 40.6% | ||
| Q4 24 | 2.3% | 40.9% | ||
| Q3 24 | 0.5% | 41.3% | ||
| Q2 24 | -0.4% | 38.9% | ||
| Q1 24 | 1.6% | 45.2% |
每股收益（稀释后）DAYUTHR
| Q4 25 | — | $7.66 | ||
| Q3 25 | $-1.23 | $7.16 | ||
| Q2 25 | $0.13 | $6.41 | ||
| Q1 25 | $0.09 | $6.63 | ||
| Q4 24 | $0.07 | $6.23 | ||
| Q3 24 | $0.01 | $6.39 | ||
| Q2 24 | $-0.01 | $5.85 | ||
| Q1 24 | $0.04 | $6.17 |
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 | $2.9B |
| 总债务越低越好 | $631.1M | — |
| 股东权益账面价值 | $2.7B | $7.1B |
| 总资产 | $8.7B | $7.9B |
| 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DAYUTHR
| Q4 25 | — | $2.9B | ||
| Q3 25 | $627.6M | $2.8B | ||
| Q2 25 | $625.2M | $3.0B | ||
| Q1 25 | $557.3M | $3.3B | ||
| Q4 24 | $579.7M | $3.3B | ||
| Q3 24 | $494.1M | $3.3B | ||
| Q2 24 | $465.4M | $3.0B | ||
| Q1 24 | $392.5M | $2.7B |
总债务DAYUTHR
| 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DAYUTHR
| Q4 25 | — | $7.1B | ||
| Q3 25 | $2.7B | $6.6B | ||
| Q2 25 | $2.7B | $7.2B | ||
| Q1 25 | $2.6B | $6.8B | ||
| Q4 24 | $2.5B | $6.4B | ||
| Q3 24 | $2.6B | $6.1B | ||
| Q2 24 | $2.5B | $5.7B | ||
| Q1 24 | $2.4B | $5.3B |
总资产DAYUTHR
| Q4 25 | — | $7.9B | ||
| Q3 25 | $8.7B | $7.4B | ||
| Q2 25 | $8.5B | $7.9B | ||
| Q1 25 | $9.5B | $7.7B | ||
| Q4 24 | $9.1B | $7.4B | ||
| Q3 24 | $8.1B | $7.1B | ||
| Q2 24 | $9.0B | $6.7B | ||
| Q1 24 | $10.8B | $6.5B |
负债/权益比DAYUTHR
| 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 | $346.2M |
| 自由现金流经营现金流 - 资本支出 | — | $173.3M |
| 自由现金流率自由现金流/营收 | — | 21.9% |
| 资本支出强度资本支出/营收 | — | 21.9% |
| 现金转化率经营现金流/净利润 | — | 0.95× |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流DAYUTHR
| Q4 25 | — | $346.2M | ||
| Q3 25 | $31.2M | $562.1M | ||
| Q2 25 | $112.7M | $191.7M | ||
| Q1 25 | $49.6M | $461.2M | ||
| Q4 24 | $81.0M | $341.2M | ||
| Q3 24 | $91.8M | $377.2M | ||
| Q2 24 | $99.2M | $232.2M | ||
| Q1 24 | $9.1M | $376.5M |
自由现金流DAYUTHR
| Q4 25 | — | $173.3M | ||
| Q3 25 | — | $351.6M | ||
| Q2 25 | — | $129.5M | ||
| Q1 25 | — | $386.3M | ||
| Q4 24 | — | $254.5M | ||
| Q3 24 | — | $300.7M | ||
| Q2 24 | — | $187.1M | ||
| Q1 24 | — | $338.3M |
自由现金流率DAYUTHR
| Q4 25 | — | 21.9% | ||
| Q3 25 | — | 44.0% | ||
| Q2 25 | — | 16.2% | ||
| Q1 25 | — | 48.6% | ||
| Q4 24 | — | 34.6% | ||
| Q3 24 | — | 40.2% | ||
| Q2 24 | — | 26.2% | ||
| Q1 24 | — | 49.9% |
资本支出强度DAYUTHR
| Q4 25 | — | 21.9% | ||
| Q3 25 | — | 26.3% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 9.4% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 10.2% | ||
| Q2 24 | — | 6.3% | ||
| Q1 24 | — | 5.6% |
现金转化率DAYUTHR
| Q4 25 | — | 0.95× | ||
| Q3 25 | — | 1.66× | ||
| Q2 25 | 5.29× | 0.62× | ||
| Q1 25 | 3.33× | 1.43× | ||
| Q4 24 | 7.50× | 1.13× | ||
| Q3 24 | 45.90× | 1.22× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | 1.28× | 1.23× |
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% |
UTHR
| Tyvaso DPI | $338.6M | 43% |
| Remodulin | $128.0M | 16% |
| Nebulized Tyvaso | $125.7M | 16% |
| Orenitram | $121.2M | 15% |
| Unituxin | $62.3M | 8% |
| Adcirca | $7.8M | 1% |
| Other | $6.6M | 1% |
