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DHI GROUP, INC.（DHX）与TELOS CORP（TLS）财务数据对比。点击上方公司名可切换其他公司
TELOS CORP的季度营收约是DHI GROUP, INC.的1.5倍（$46.8M vs $31.4M），DHI GROUP, INC.净利率更高（3.0% vs -34.9%，领先37.9%），TELOS CORP同比增速更快（77.4% vs -9.8%），TELOS CORP自由现金流更多（$8.0M vs $5.7M），过去两年TELOS CORP的营收复合增速更高（25.7% vs -6.7%）
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。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
DHX vs TLS — 直观对比
营收规模更大
TLS
是对方的1.5倍
$31.4M
营收增速更快
TLS
高出87.2%
-9.8%
净利率更高
DHX
高出37.9%
-34.9%
自由现金流更多
TLS
多$2.3M
$5.7M
两年增速更快
TLS
近两年复合增速
-6.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $31.4M | $46.8M |
| 净利润 | $951.0K | $-16.3M |
| 毛利率 | — | 35.0% |
| 营业利润率 | 10.4% | -39.6% |
| 净利率 | 3.0% | -34.9% |
| 营收同比 | -9.8% | 77.4% |
| 净利润同比 | -6.9% | -74.8% |
| 每股收益（稀释后） | $0.03 | $-0.22 |
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DHXTLS
| Q4 25 | $31.4M | $46.8M | ||
| Q3 25 | $32.1M | $51.4M | ||
| Q2 25 | $32.0M | $36.0M | ||
| Q1 25 | $32.3M | $30.6M | ||
| Q4 24 | $34.8M | $26.4M | ||
| Q3 24 | $35.3M | $23.8M | ||
| Q2 24 | $35.8M | $28.5M | ||
| Q1 24 | $36.0M | $29.6M |
净利润DHXTLS
| Q4 25 | $951.0K | $-16.3M | ||
| Q3 25 | $-4.3M | $-2.1M | ||
| Q2 25 | $-841.0K | $-9.5M | ||
| Q1 25 | $-9.4M | $-8.6M | ||
| Q4 24 | $1.0M | $-9.3M | ||
| Q3 24 | $-200.0K | $-28.1M | ||
| Q2 24 | $943.0K | $-7.8M | ||
| Q1 24 | $-1.5M | $-7.4M |
毛利率DHXTLS
| Q4 25 | — | 35.0% | ||
| Q3 25 | 85.7% | 39.9% | ||
| Q2 25 | 84.0% | 33.2% | ||
| Q1 25 | 83.4% | 39.8% | ||
| Q4 24 | — | 40.3% | ||
| Q3 24 | 85.6% | 13.2% | ||
| Q2 24 | 85.5% | 34.1% | ||
| Q1 24 | 86.5% | 37.0% |
营业利润率DHXTLS
| Q4 25 | 10.4% | -39.6% | ||
| Q3 25 | -14.0% | -4.8% | ||
| Q2 25 | -3.9% | -27.5% | ||
| Q1 25 | -27.5% | -29.5% | ||
| Q4 24 | 5.0% | -37.6% | ||
| Q3 24 | 1.8% | -121.4% | ||
| Q2 24 | 5.6% | -30.3% | ||
| Q1 24 | 5.5% | -28.5% |
净利率DHXTLS
| Q4 25 | 3.0% | -34.9% | ||
| Q3 25 | -13.3% | -4.1% | ||
| Q2 25 | -2.6% | -26.5% | ||
| Q1 25 | -28.9% | -28.1% | ||
| Q4 24 | 2.9% | -35.4% | ||
| Q3 24 | -0.6% | -118.0% | ||
| Q2 24 | 2.6% | -27.2% | ||
| Q1 24 | -4.2% | -24.9% |
每股收益（稀释后）DHXTLS
| Q4 25 | $0.03 | $-0.22 | ||
| Q3 25 | $-0.10 | $-0.03 | ||
| Q2 25 | $-0.02 | $-0.13 | ||
| Q1 25 | $-0.21 | $-0.12 | ||
| Q4 24 | $0.02 | $-0.13 | ||
| Q3 24 | $0.00 | $-0.39 | ||
| Q2 24 | $0.02 | $-0.11 | ||
| Q1 24 | $-0.03 | $-0.10 |
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 | $53.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $94.5M | $96.0M |
| 总资产 | $188.2M | $139.9M |
| 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DHXTLS
| Q4 25 | $2.9M | $53.2M | ||
| Q3 25 | $2.3M | $59.0M | ||
| Q2 25 | $2.8M | $57.0M | ||
| Q1 25 | $2.7M | $57.8M | ||
| Q4 24 | $3.7M | $54.6M | ||
| Q3 24 | $2.1M | $69.8M | ||
| Q2 24 | $3.0M | $80.1M | ||
| Q1 24 | $3.2M | $93.9M |
总债务DHXTLS
| Q4 25 | — | — | ||
| Q3 25 | $30.0M | — | ||
| Q2 25 | $30.0M | — | ||
| Q1 25 | $33.0M | — | ||
| Q4 24 | $32.0M | — | ||
| Q3 24 | $32.0M | — | ||
| Q2 24 | $35.0M | — | ||
| Q1 24 | $41.0M | — |
股东权益DHXTLS
| Q4 25 | $94.5M | $96.0M | ||
| Q3 25 | $97.3M | $119.7M | ||
| Q2 25 | $102.5M | $118.4M | ||
| Q1 25 | $103.9M | $126.1M | ||
| Q4 24 | $114.3M | $127.1M | ||
| Q3 24 | $111.3M | $129.5M | ||
| Q2 24 | $109.8M | $149.1M | ||
| Q1 24 | $106.6M | $154.4M |
总资产DHXTLS
| Q4 25 | $188.2M | $139.9M | ||
| Q3 25 | $192.5M | $164.3M | ||
| Q2 25 | $204.9M | $165.0M | ||
| Q1 25 | $212.1M | $158.1M | ||
| Q4 24 | $221.4M | $158.2M | ||
| Q3 24 | $219.4M | $166.3M | ||
| Q2 24 | $224.4M | $182.4M | ||
| Q1 24 | $231.9M | $195.4M |
负债/权益比DHXTLS
| Q4 25 | — | — | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.29× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.29× | — | ||
| Q2 24 | 0.32× | — | ||
| Q1 24 | 0.38× | — |
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 | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $5.7M | $8.0M |
| 自由现金流率自由现金流/营收 | 18.1% | 17.0% |
| 资本支出强度资本支出/营收 | 4.9% | 0.1% |
| 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 | $29.4M |
8季度趋势，按日历期对齐
经营现金流DHXTLS
| Q4 25 | $7.2M | $8.0M | ||
| Q3 25 | $4.8M | $9.1M | ||
| Q2 25 | $6.9M | $7.0M | ||
| Q1 25 | $2.2M | $6.1M | ||
| Q4 24 | $4.4M | $-10.5M | ||
| Q3 24 | $5.5M | $-7.1M | ||
| Q2 24 | $9.1M | $-8.0M | ||
| Q1 24 | $2.1M | $-350.0K |
自由现金流DHXTLS
| Q4 25 | $5.7M | $8.0M | ||
| Q3 25 | $3.2M | $8.7M | ||
| Q2 25 | $4.8M | $6.8M | ||
| Q1 25 | $88.0K | $6.0M | ||
| Q4 24 | $1.6M | $-12.4M | ||
| Q3 24 | $2.3M | $-7.1M | ||
| Q2 24 | $5.6M | $-8.2M | ||
| Q1 24 | $-2.4M | $-447.0K |
自由现金流率DHXTLS
| Q4 25 | 18.1% | 17.0% | ||
| Q3 25 | 9.9% | 16.9% | ||
| Q2 25 | 15.1% | 19.0% | ||
| Q1 25 | 0.3% | 19.5% | ||
| Q4 24 | 4.6% | -47.0% | ||
| Q3 24 | 6.5% | -30.0% | ||
| Q2 24 | 15.6% | -28.9% | ||
| Q1 24 | -6.5% | -1.5% |
资本支出强度DHXTLS
| Q4 25 | 4.9% | 0.1% | ||
| Q3 25 | 5.0% | 0.9% | ||
| Q2 25 | 6.3% | 0.4% | ||
| Q1 25 | 6.7% | 0.4% | ||
| Q4 24 | 8.0% | 7.1% | ||
| Q3 24 | 9.2% | 0.2% | ||
| Q2 24 | 9.7% | 0.8% | ||
| Q1 24 | 12.3% | 0.3% |
现金转化率DHXTLS
| Q4 25 | 7.60× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.27× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.61× | — | ||
| 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
DHX
| Clearance Jobs | $17.4M | 56% |
| Clearance Jobs Segment | $13.9M | 44% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
