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DHI GROUP, INC.（DHX）与FiscalNote Holdings, Inc.（NOTE）财务数据对比。点击上方公司名可切换其他公司
DHI GROUP, INC.的季度营收约是FiscalNote Holdings, Inc.的1.4倍（$31.4M vs $22.2M），DHI GROUP, INC.同比增速更快（-9.8% vs -24.7%），DHI GROUP, INC.自由现金流更多（$5.7M vs $-1.9M），过去两年DHI GROUP, INC.的营收复合增速更高（-6.7% vs -16.8%）
DHI集团是总部位于丹麦的国际水环境企业，业务涵盖水环境软件开发与工程咨询，拥有自主水环境建模软件MIKE Powered by DHI，同时为客户提供商业应用、数据门户、运营服务等全链条水环境解决方案。集团目前在全球设有30个分支机构，在新加坡和丹麦都设有研发中心，全球员工约1050名。
FiscalNote Holdings, Inc.（常称FiscalNote）是一家上市的软件数据与传媒企业，总部位于美国华盛顿特区，2013年由三位创始人创立。核心业务为通过政府关系管理服务FiscalNote GRM提供软件工具、平台、数据服务与资讯，同时依托人工智能平台分析美国待审议法案相关内容。
DHX vs NOTE — 直观对比
营收规模更大
DHX
是对方的1.4倍
$22.2M
营收增速更快
DHX
高出14.9%
-24.7%
自由现金流更多
DHX
多$7.6M
$-1.9M
两年增速更快
DHX
近两年复合增速
-16.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $31.4M | $22.2M |
| 净利润 | $951.0K | — |
| 毛利率 | — | — |
| 营业利润率 | 10.4% | -83.7% |
| 净利率 | 3.0% | — |
| 营收同比 | -9.8% | -24.7% |
| 净利润同比 | -6.9% | — |
| 每股收益（稀释后） | $0.03 | $-2.81 |
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DHXNOTE
| Q4 25 | $31.4M | $22.2M | ||
| Q3 25 | $32.1M | $22.4M | ||
| Q2 25 | $32.0M | $23.3M | ||
| Q1 25 | $32.3M | $27.5M | ||
| Q4 24 | $34.8M | $29.5M | ||
| Q3 24 | $35.3M | $29.4M | ||
| Q2 24 | $35.8M | $29.2M | ||
| Q1 24 | $36.0M | $32.1M |
净利润DHXNOTE
| Q4 25 | $951.0K | — | ||
| Q3 25 | $-4.3M | $-24.9M | ||
| Q2 25 | $-841.0K | $-13.3M | ||
| Q1 25 | $-9.4M | $-4.3M | ||
| Q4 24 | $1.0M | — | ||
| Q3 24 | $-200.0K | $-14.9M | ||
| Q2 24 | $943.0K | $-12.8M | ||
| Q1 24 | $-1.5M | $50.6M |
毛利率DHXNOTE
| Q4 25 | — | — | ||
| Q3 25 | 85.7% | — | ||
| Q2 25 | 84.0% | — | ||
| Q1 25 | 83.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 85.6% | — | ||
| Q2 24 | 85.5% | — | ||
| Q1 24 | 86.5% | — |
营业利润率DHXNOTE
| Q4 25 | 10.4% | -83.7% | ||
| Q3 25 | -14.0% | -43.4% | ||
| Q2 25 | -3.9% | -31.9% | ||
| Q1 25 | -27.5% | -50.0% | ||
| Q4 24 | 5.0% | -19.4% | ||
| Q3 24 | 1.8% | -23.1% | ||
| Q2 24 | 5.6% | -27.2% | ||
| Q1 24 | 5.5% | -35.6% |
净利率DHXNOTE
| Q4 25 | 3.0% | — | ||
| Q3 25 | -13.3% | -110.8% | ||
| Q2 25 | -2.6% | -57.0% | ||
| Q1 25 | -28.9% | -15.4% | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | -0.6% | -50.7% | ||
| Q2 24 | 2.6% | -43.6% | ||
| Q1 24 | -4.2% | 157.6% |
每股收益（稀释后）DHXNOTE
| Q4 25 | $0.03 | $-2.81 | ||
| Q3 25 | $-0.10 | $-1.73 | ||
| Q2 25 | $-0.02 | $-0.08 | ||
| Q1 25 | $-0.21 | $-0.03 | ||
| Q4 24 | $0.02 | $1.88 | ||
| Q3 24 | $0.00 | $-1.33 | ||
| Q2 24 | $0.02 | $-0.09 | ||
| Q1 24 | $-0.03 | $0.37 |
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 | $2.9M | $26.3M |
| 总债务越低越好 | — | $128.4M |
| 股东权益账面价值 | $94.5M | $62.0M |
| 总资产 | $188.2M | $255.1M |
| 负债/权益比越低杠杆越低 | — | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资DHXNOTE
| Q4 25 | $2.9M | $26.3M | ||
| Q3 25 | $2.3M | $31.2M | ||
| Q2 25 | $2.8M | $38.5M | ||
| Q1 25 | $2.7M | $46.3M | ||
| Q4 24 | $3.7M | $34.6M | ||
| Q3 24 | $2.1M | $32.7M | ||
| Q2 24 | $3.0M | $37.7M | ||
| Q1 24 | $3.2M | $43.6M |
总债务DHXNOTE
| Q4 25 | — | $128.4M | ||
| Q3 25 | $30.0M | $131.5M | ||
| Q2 25 | $30.0M | $116.7M | ||
| Q1 25 | $33.0M | $118.0M | ||
| Q4 24 | $32.0M | $147.1M | ||
| Q3 24 | $32.0M | $152.2M | ||
| Q2 24 | $35.0M | $145.9M | ||
| Q1 24 | $41.0M | $153.0M |
股东权益DHXNOTE
| Q4 25 | $94.5M | $62.0M | ||
| Q3 25 | $97.3M | $75.5M | ||
| Q2 25 | $102.5M | $95.1M | ||
| Q1 25 | $103.9M | $98.7M | ||
| Q4 24 | $114.3M | $97.8M | ||
| Q3 24 | $111.3M | $98.5M | ||
| Q2 24 | $109.8M | $106.9M | ||
| Q1 24 | $106.6M | $106.1M |
总资产DHXNOTE
| Q4 25 | $188.2M | $255.1M | ||
| Q3 25 | $192.5M | $273.9M | ||
| Q2 25 | $204.9M | $288.3M | ||
| Q1 25 | $212.1M | $299.7M | ||
| Q4 24 | $221.4M | $326.2M | ||
| Q3 24 | $219.4M | $337.9M | ||
| Q2 24 | $224.4M | $346.3M | ||
| Q1 24 | $231.9M | $357.8M |
负债/权益比DHXNOTE
| Q4 25 | — | 2.07× | ||
| Q3 25 | 0.31× | 1.74× | ||
| Q2 25 | 0.29× | 1.23× | ||
| Q1 25 | 0.32× | 1.20× | ||
| Q4 24 | 0.28× | 1.50× | ||
| Q3 24 | 0.29× | 1.54× | ||
| Q2 24 | 0.32× | 1.36× | ||
| Q1 24 | 0.38× | 1.44× |
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 | $7.2M | $-279.0K |
| 自由现金流经营现金流 - 资本支出 | $5.7M | $-1.9M |
| 自由现金流率自由现金流/营收 | 18.1% | -8.7% |
| 资本支出强度资本支出/营收 | 4.9% | 7.4% |
| 现金转化率经营现金流/净利润 | 7.60× | — |
| 过去12个月自由现金流最近4个季度 | $13.8M | $-18.6M |
8季度趋势，按日历期对齐
经营现金流DHXNOTE
| Q4 25 | $7.2M | $-279.0K | ||
| Q3 25 | $4.8M | $-8.3M | ||
| Q2 25 | $6.9M | $-6.2M | ||
| Q1 25 | $2.2M | $3.3M | ||
| Q4 24 | $4.4M | $-1.3M | ||
| Q3 24 | $5.5M | $-3.0M | ||
| Q2 24 | $9.1M | $-3.7M | ||
| Q1 24 | $2.1M | $2.7M |
自由现金流DHXNOTE
| Q4 25 | $5.7M | $-1.9M | ||
| Q3 25 | $3.2M | $-10.4M | ||
| Q2 25 | $4.8M | $-7.7M | ||
| Q1 25 | $88.0K | $1.3M | ||
| Q4 24 | $1.6M | $-3.4M | ||
| Q3 24 | $2.3M | $-5.4M | ||
| Q2 24 | $5.6M | $-6.5M | ||
| Q1 24 | $-2.4M | $1.0M |
自由现金流率DHXNOTE
| Q4 25 | 18.1% | -8.7% | ||
| Q3 25 | 9.9% | -46.2% | ||
| Q2 25 | 15.1% | -33.0% | ||
| Q1 25 | 0.3% | 4.7% | ||
| Q4 24 | 4.6% | -11.4% | ||
| Q3 24 | 6.5% | -18.4% | ||
| Q2 24 | 15.6% | -22.1% | ||
| Q1 24 | -6.5% | 3.3% |
资本支出强度DHXNOTE
| Q4 25 | 4.9% | 7.4% | ||
| Q3 25 | 5.0% | 9.3% | ||
| Q2 25 | 6.3% | 6.4% | ||
| Q1 25 | 6.7% | 7.2% | ||
| Q4 24 | 8.0% | 6.8% | ||
| Q3 24 | 9.2% | 8.3% | ||
| Q2 24 | 9.7% | 9.4% | ||
| Q1 24 | 12.3% | 5.3% |
现金转化率DHXNOTE
| Q4 25 | 7.60× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.27× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.61× | — | ||
| Q1 24 | — | 0.05× |
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
DHX
| Clearance Jobs | $17.4M | 56% |
| Clearance Jobs Segment | $13.9M | 44% |
NOTE
| Subscription | $21.2M | 95% |
| Advisory Advertising And Other | $1.0M | 5% |
