vs
三维系统（DDD）与RESOURCES CONNECTION, INC.（RGP）财务数据对比。点击上方公司名可切换其他公司
RESOURCES CONNECTION, INC.的季度营收约是三维系统的1.1倍（$117.7M vs $106.3M），RESOURCES CONNECTION, INC.净利率更高（-10.8% vs -18.4%，领先7.6%），三维系统同比增速更快（-4.3% vs -19.2%），RESOURCES CONNECTION, INC.自由现金流更多（$15.6M vs $-16.6M），过去两年三维系统的营收复合增速更高（1.6% vs -11.8%）
3D Systems是一家总部位于美国南卡罗来纳州罗克希尔的企业，核心业务涵盖3D打印机、3D打印材料的研发生产与销售，同时提供3D打印零部件定制及应用工程服务，可产品概念模型、精密功能原型、工裝母模以及直接数字化生产零部件等产品，服务各行各业的数字化制造需求。
RGP原名 Resources Global Professionals，是 Resources Connection, Inc. 的核心运营主体，面向全球客户提供多领域专业咨询服务，覆盖财务会计、信息管理、治理风险合规、人力资本、法务监管、企业咨询与重组、战略传播以及供应链管理等板块。
DDD vs RGP — 直观对比
营收规模更大
RGP
是对方的1.1倍
$106.3M
营收增速更快
DDD
高出14.9%
-19.2%
净利率更高
RGP
高出7.6%
-18.4%
自由现金流更多
RGP
多$32.2M
$-16.6M
两年增速更快
DDD
近两年复合增速
-11.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $106.3M | $117.7M |
| 净利润 | $-19.5M | $-12.7M |
| 毛利率 | 30.8% | 37.1% |
| 营业利润率 | -21.3% | -10.3% |
| 净利率 | -18.4% | -10.8% |
| 营收同比 | -4.3% | -19.2% |
| 净利润同比 | 41.7% | 81.6% |
| 每股收益（稀释后） | $0.04 | $-0.38 |
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DDDRGP
| Q4 25 | $106.3M | $117.7M | ||
| Q3 25 | $91.2M | $120.2M | ||
| Q2 25 | $94.8M | $139.3M | ||
| Q1 25 | $94.5M | $129.4M | ||
| Q4 24 | $111.0M | $145.6M | ||
| Q3 24 | $112.9M | $136.9M | ||
| Q2 24 | $113.3M | $148.2M | ||
| Q1 24 | $102.9M | $151.3M |
净利润DDDRGP
| Q4 25 | $-19.5M | $-12.7M | ||
| Q3 25 | $-18.1M | $-2.4M | ||
| Q2 25 | $104.4M | $-73.3M | ||
| Q1 25 | $-37.0M | $-44.1M | ||
| Q4 24 | $-33.5M | $-68.7M | ||
| Q3 24 | $-178.6M | $-5.7M | ||
| Q2 24 | $-27.3M | $10.5M | ||
| Q1 24 | $-16.0M | $2.5M |
毛利率DDDRGP
| Q4 25 | 30.8% | 37.1% | ||
| Q3 25 | 32.3% | 39.5% | ||
| Q2 25 | 38.1% | 40.2% | ||
| Q1 25 | 34.6% | 35.1% | ||
| Q4 24 | 31.0% | 38.5% | ||
| Q3 24 | 36.9% | 36.5% | ||
| Q2 24 | 41.6% | 40.2% | ||
| Q1 24 | 39.8% | 37.0% |
营业利润率DDDRGP
| Q4 25 | -21.3% | -10.3% | ||
| Q3 25 | -23.4% | -1.7% | ||
| Q2 25 | -16.2% | -47.0% | ||
| Q1 25 | -38.9% | -38.4% | ||
| Q4 24 | -27.4% | -52.7% | ||
| Q3 24 | -160.0% | -3.5% | ||
| Q2 24 | -23.3% | 7.6% | ||
| Q1 24 | -38.7% | 2.8% |
净利率DDDRGP
| Q4 25 | -18.4% | -10.8% | ||
| Q3 25 | -19.8% | -2.0% | ||
| Q2 25 | 110.1% | -52.6% | ||
| Q1 25 | -39.1% | -34.0% | ||
| Q4 24 | -30.1% | -47.2% | ||
| Q3 24 | -158.2% | -4.2% | ||
| Q2 24 | -24.1% | 7.1% | ||
| Q1 24 | -15.5% | 1.7% |
每股收益（稀释后）DDDRGP
| Q4 25 | $0.04 | $-0.38 | ||
| Q3 25 | $-0.14 | $-0.07 | ||
| Q2 25 | $0.57 | $-2.21 | ||
| Q1 25 | $-0.28 | $-1.34 | ||
| Q4 24 | $-0.26 | $-2.08 | ||
| Q3 24 | $-1.35 | $-0.17 | ||
| Q2 24 | $-0.21 | $0.31 | ||
| Q1 24 | $-0.12 | $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 | $95.6M | $89.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $240.4M | $194.6M |
| 总资产 | $521.7M | $289.3M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DDDRGP
| Q4 25 | $95.6M | $89.8M | ||
| Q3 25 | $95.5M | $77.5M | ||
| Q2 25 | $116.4M | $86.1M | ||
| Q1 25 | $135.0M | $72.5M | ||
| Q4 24 | $171.3M | $78.2M | ||
| Q3 24 | $190.0M | $89.6M | ||
| Q2 24 | $192.7M | $108.9M | ||
| Q1 24 | $212.0M | $113.8M |
股东权益DDDRGP
| Q4 25 | $240.4M | $194.6M | ||
| Q3 25 | $221.1M | $206.4M | ||
| Q2 25 | $241.2M | $207.1M | ||
| Q1 25 | $145.6M | $277.8M | ||
| Q4 24 | $176.2M | $325.7M | ||
| Q3 24 | $218.0M | $407.2M | ||
| Q2 24 | $381.7M | $418.8M | ||
| Q1 24 | $408.4M | $414.9M |
总资产DDDRGP
| Q4 25 | $521.7M | $289.3M | ||
| Q3 25 | $554.5M | $287.2M | ||
| Q2 25 | $587.8M | $304.7M | ||
| Q1 25 | $583.4M | $375.6M | ||
| Q4 24 | $608.8M | $424.9M | ||
| Q3 24 | $658.3M | $512.9M | ||
| Q2 24 | $821.5M | $510.9M | ||
| Q1 24 | $857.2M | $523.2M |
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 | $-14.7M | $15.9M |
| 自由现金流经营现金流 - 资本支出 | $-16.6M | $15.6M |
| 自由现金流率自由现金流/营收 | -15.7% | 13.2% |
| 资本支出强度资本支出/营收 | 1.8% | 0.3% |
| 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 | $-97.8M | $24.3M |
8季度趋势，按日历期对齐
经营现金流DDDRGP
| Q4 25 | $-14.7M | $15.9M | ||
| Q3 25 | $-13.5M | $-7.8M | ||
| Q2 25 | $-25.8M | $16.8M | ||
| Q1 25 | $-33.8M | $659.0K | ||
| Q4 24 | $-7.8M | $1.8M | ||
| Q3 24 | $-801.0K | $-309.0K | ||
| Q2 24 | $-10.8M | $3.2M | ||
| Q1 24 | $-25.5M | $20.5M |
自由现金流DDDRGP
| Q4 25 | $-16.6M | $15.6M | ||
| Q3 25 | $-15.8M | $-8.0M | ||
| Q2 25 | $-28.8M | $16.5M | ||
| Q1 25 | $-36.6M | $238.0K | ||
| Q4 24 | $-13.1M | $61.0K | ||
| Q3 24 | $-4.4M | $-575.0K | ||
| Q2 24 | $-14.7M | $3.0M | ||
| Q1 24 | $-28.7M | $20.4M |
自由现金流率DDDRGP
| Q4 25 | -15.7% | 13.2% | ||
| Q3 25 | -17.3% | -6.6% | ||
| Q2 25 | -30.4% | 11.8% | ||
| Q1 25 | -38.7% | 0.2% | ||
| Q4 24 | -11.8% | 0.0% | ||
| Q3 24 | -3.9% | -0.4% | ||
| Q2 24 | -13.0% | 2.1% | ||
| Q1 24 | -27.9% | 13.5% |
资本支出强度DDDRGP
| Q4 25 | 1.8% | 0.3% | ||
| Q3 25 | 2.5% | 0.1% | ||
| Q2 25 | 3.1% | 0.2% | ||
| Q1 25 | 3.0% | 0.3% | ||
| Q4 24 | 4.8% | 1.2% | ||
| Q3 24 | 3.2% | 0.2% | ||
| Q2 24 | 3.5% | 0.1% | ||
| Q1 24 | 3.1% | 0.1% |
现金转化率DDDRGP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.25× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.30× | ||
| Q1 24 | — | 8.04× |
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
DDD
| Products | $62.6M | 59% |
| Services | $43.7M | 41% |
RGP
| US | $93.7M | 80% |
| Non Us | $24.0M | 20% |
