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三维系统（DDD）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
三维系统的季度营收约是Repay Holdings Corp的1.4倍（$106.3M vs $78.6M），三维系统净利率更高（-18.4% vs -178.3%，领先159.9%），Repay Holdings Corp同比增速更快（0.4% vs -4.3%），Repay Holdings Corp自由现金流更多（$23.2M vs $-16.6M），过去两年三维系统的营收复合增速更高（1.6% vs -1.3%）
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。
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。
DDD vs RPAY — 直观对比
营收规模更大
DDD
是对方的1.4倍
$78.6M
营收增速更快
RPAY
高出4.7%
-4.3%
净利率更高
DDD
高出159.9%
-178.3%
自由现金流更多
RPAY
多$39.9M
$-16.6M
两年增速更快
DDD
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $106.3M | $78.6M |
| 净利润 | $-19.5M | $-140.1M |
| 毛利率 | 30.8% | 74.2% |
| 营业利润率 | -21.3% | -182.2% |
| 净利率 | -18.4% | -178.3% |
| 营收同比 | -4.3% | 0.4% |
| 净利润同比 | 41.7% | -3304.1% |
| 每股收益（稀释后） | $0.04 | $-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DDDRPAY
| Q4 25 | $106.3M | $78.6M | ||
| Q3 25 | $91.2M | $77.7M | ||
| Q2 25 | $94.8M | $75.6M | ||
| Q1 25 | $94.5M | $77.3M | ||
| Q4 24 | $111.0M | $78.3M | ||
| Q3 24 | $112.9M | $79.1M | ||
| Q2 24 | $113.3M | $74.9M | ||
| Q1 24 | $102.9M | $80.7M |
净利润DDDRPAY
| Q4 25 | $-19.5M | $-140.1M | ||
| Q3 25 | $-18.1M | $-6.4M | ||
| Q2 25 | $104.4M | $-102.3M | ||
| Q1 25 | $-37.0M | $-7.9M | ||
| Q4 24 | $-33.5M | $-4.1M | ||
| Q3 24 | $-178.6M | $3.2M | ||
| Q2 24 | $-27.3M | $-4.1M | ||
| Q1 24 | $-16.0M | $-5.2M |
毛利率DDDRPAY
| Q4 25 | 30.8% | 74.2% | ||
| Q3 25 | 32.3% | 74.4% | ||
| Q2 25 | 38.1% | 75.7% | ||
| Q1 25 | 34.6% | 75.9% | ||
| Q4 24 | 31.0% | 76.3% | ||
| Q3 24 | 36.9% | 77.8% | ||
| Q2 24 | 41.6% | 78.2% | ||
| Q1 24 | 39.8% | 76.2% |
营业利润率DDDRPAY
| Q4 25 | -21.3% | -182.2% | ||
| Q3 25 | -23.4% | -3.9% | ||
| Q2 25 | -16.2% | -138.7% | ||
| Q1 25 | -38.9% | -4.7% | ||
| Q4 24 | -27.4% | -1.5% | ||
| Q3 24 | -160.0% | -0.9% | ||
| Q2 24 | -23.3% | -4.6% | ||
| Q1 24 | -38.7% | -3.1% |
净利率DDDRPAY
| Q4 25 | -18.4% | -178.3% | ||
| Q3 25 | -19.8% | -8.3% | ||
| Q2 25 | 110.1% | -135.2% | ||
| Q1 25 | -39.1% | -10.3% | ||
| Q4 24 | -30.1% | -5.3% | ||
| Q3 24 | -158.2% | 4.1% | ||
| Q2 24 | -24.1% | -5.4% | ||
| Q1 24 | -15.5% | -6.5% |
每股收益（稀释后）DDDRPAY
| Q4 25 | $0.04 | $-1.68 | ||
| Q3 25 | $-0.14 | $-0.08 | ||
| Q2 25 | $0.57 | $-1.15 | ||
| Q1 25 | $-0.28 | $-0.09 | ||
| Q4 24 | $-0.26 | $-0.04 | ||
| Q3 24 | $-1.35 | $0.03 | ||
| Q2 24 | $-0.21 | $-0.04 | ||
| Q1 24 | $-0.12 | $-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 | $95.6M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $240.4M | $484.4M |
| 总资产 | $521.7M | $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DDDRPAY
| Q4 25 | $95.6M | $115.7M | ||
| Q3 25 | $95.5M | $95.7M | ||
| Q2 25 | $116.4M | $162.6M | ||
| Q1 25 | $135.0M | $165.5M | ||
| Q4 24 | $171.3M | $189.5M | ||
| Q3 24 | $190.0M | $168.7M | ||
| Q2 24 | $192.7M | $147.1M | ||
| Q1 24 | $212.0M | $128.3M |
总债务DDDRPAY
| 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DDDRPAY
| Q4 25 | $240.4M | $484.4M | ||
| Q3 25 | $221.1M | $616.9M | ||
| Q2 25 | $241.2M | $633.7M | ||
| Q1 25 | $145.6M | $755.7M | ||
| Q4 24 | $176.2M | $761.3M | ||
| Q3 24 | $218.0M | $754.7M | ||
| Q2 24 | $381.7M | $815.4M | ||
| Q1 24 | $408.4M | $813.8M |
总资产DDDRPAY
| Q4 25 | $521.7M | $1.2B | ||
| Q3 25 | $554.5M | $1.3B | ||
| Q2 25 | $587.8M | $1.4B | ||
| Q1 25 | $583.4M | $1.5B | ||
| Q4 24 | $608.8M | $1.6B | ||
| Q3 24 | $658.3M | $1.6B | ||
| Q2 24 | $821.5M | $1.5B | ||
| Q1 24 | $857.2M | $1.5B |
负债/权益比DDDRPAY
| 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 | $-14.7M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-16.6M | $23.2M |
| 自由现金流率自由现金流/营收 | -15.7% | 29.6% |
| 资本支出强度资本支出/营收 | 1.8% | 0.1% |
| 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 | $90.7M |
8季度趋势，按日历期对齐
经营现金流DDDRPAY
| Q4 25 | $-14.7M | $23.3M | ||
| Q3 25 | $-13.5M | $32.2M | ||
| Q2 25 | $-25.8M | $33.1M | ||
| Q1 25 | $-33.8M | $2.5M | ||
| Q4 24 | $-7.8M | $34.3M | ||
| Q3 24 | $-801.0K | $60.1M | ||
| Q2 24 | $-10.8M | $31.0M | ||
| Q1 24 | $-25.5M | $24.8M |
自由现金流DDDRPAY
| Q4 25 | $-16.6M | $23.2M | ||
| Q3 25 | $-15.8M | $32.1M | ||
| Q2 25 | $-28.8M | $33.0M | ||
| Q1 25 | $-36.6M | $2.4M | ||
| Q4 24 | $-13.1M | $34.0M | ||
| Q3 24 | $-4.4M | $59.8M | ||
| Q2 24 | $-14.7M | $30.5M | ||
| Q1 24 | $-28.7M | $24.7M |
自由现金流率DDDRPAY
| Q4 25 | -15.7% | 29.6% | ||
| Q3 25 | -17.3% | 41.3% | ||
| Q2 25 | -30.4% | 43.6% | ||
| Q1 25 | -38.7% | 3.0% | ||
| Q4 24 | -11.8% | 43.5% | ||
| Q3 24 | -3.9% | 75.6% | ||
| Q2 24 | -13.0% | 40.7% | ||
| Q1 24 | -27.9% | 30.6% |
资本支出强度DDDRPAY
| Q4 25 | 1.8% | 0.1% | ||
| Q3 25 | 2.5% | 0.2% | ||
| Q2 25 | 3.1% | 0.1% | ||
| Q1 25 | 3.0% | 0.2% | ||
| Q4 24 | 4.8% | 0.3% | ||
| Q3 24 | 3.2% | 0.3% | ||
| Q2 24 | 3.5% | 0.6% | ||
| Q1 24 | 3.1% | 0.1% |
现金转化率DDDRPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.25× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| 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
DDD
| Products | $62.6M | 59% |
| Services | $43.7M | 41% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
