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DLH Holdings Corp.（DLHC）与KFORCE INC（KFRC）财务数据对比。点击上方公司名可切换其他公司
KFORCE INC的季度营收约是DLH Holdings Corp.的4.8倍（$332.0M vs $68.9M）。KFORCE INC净利率更高（1.6% vs -1.9%，领先3.5%）。KFORCE INC同比增速更快（-3.4% vs -24.1%）。KFORCE INC自由现金流更多（$16.7M vs $-4.8M）。过去两年KFORCE INC的营收复合增速更高（-2.9% vs -17.4%）
DLH Holdings Corp.是一家总部位于美国的政府服务供应商，主要为退伍军人事务部、国防部、卫生与公众服务部等联邦机构提供技术赋能的医疗、物流、工程及任务支持服务，同时服务部分州及地方公共部门客户。
Kforce Inc.是一家总部位于美国的专业人力资源服务与解决方案供应商，业务覆盖技术、财务会计、医疗保健三大核心领域，为全美各类中大型企业提供专业人才派遣、劳动力管理优化等定制服务。
DLHC vs KFRC — 直观对比
营收规模更大
KFRC
是对方的4.8倍
$68.9M
营收增速更快
KFRC
高出20.7%
-24.1%
净利率更高
KFRC
高出3.5%
-1.9%
自由现金流更多
KFRC
多$21.5M
$-4.8M
两年增速更快
KFRC
近两年复合增速
-17.4%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $68.9M | $332.0M |
| 净利润 | $-1.3M | $5.2M |
| 毛利率 | — | 27.2% |
| 营业利润率 | 2.1% | 2.6% |
| 净利率 | -1.9% | 1.6% |
| 营收同比 | -24.1% | -3.4% |
| 净利润同比 | -218.7% | -53.3% |
| 每股收益（稀释后） | $-0.09 | $0.29 |
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DLHCKFRC
| Q4 25 | $68.9M | $332.0M | ||
| Q3 25 | $81.2M | $332.6M | ||
| Q2 25 | $83.3M | $334.3M | ||
| Q1 25 | $89.2M | $330.0M | ||
| Q4 24 | $90.8M | $343.8M | ||
| Q3 24 | $96.4M | $353.3M | ||
| Q2 24 | $100.7M | $356.3M | ||
| Q1 24 | $101.0M | $351.9M |
净利润DLHCKFRC
| Q4 25 | $-1.3M | $5.2M | ||
| Q3 25 | $-920.0K | $11.1M | ||
| Q2 25 | $289.0K | $10.4M | ||
| Q1 25 | $878.0K | $8.1M | ||
| Q4 24 | $1.1M | $11.1M | ||
| Q3 24 | $2.3M | $14.2M | ||
| Q2 24 | $1.1M | $14.2M | ||
| Q1 24 | $1.8M | $11.0M |
毛利率DLHCKFRC
| Q4 25 | — | 27.2% | ||
| Q3 25 | — | 27.7% | ||
| Q2 25 | — | 27.1% | ||
| Q1 25 | — | 26.7% | ||
| Q4 24 | — | 27.0% | ||
| Q3 24 | — | 27.9% | ||
| Q2 24 | — | 27.8% | ||
| Q1 24 | — | 27.1% |
营业利润率DLHCKFRC
| Q4 25 | 2.1% | 2.6% | ||
| Q3 25 | 2.8% | 4.5% | ||
| Q2 25 | 4.5% | 4.5% | ||
| Q1 25 | 5.7% | 3.5% | ||
| Q4 24 | 6.2% | 4.5% | ||
| Q3 24 | 6.6% | 5.3% | ||
| Q2 24 | 5.7% | 5.5% | ||
| Q1 24 | 5.9% | 4.5% |
净利率DLHCKFRC
| Q4 25 | -1.9% | 1.6% | ||
| Q3 25 | -1.1% | 3.3% | ||
| Q2 25 | 0.3% | 3.1% | ||
| Q1 25 | 1.0% | 2.5% | ||
| Q4 24 | 1.2% | 3.2% | ||
| Q3 24 | 2.4% | 4.0% | ||
| Q2 24 | 1.1% | 4.0% | ||
| Q1 24 | 1.8% | 3.1% |
每股收益（稀释后）DLHCKFRC
| Q4 25 | $-0.09 | $0.29 | ||
| Q3 25 | $-0.07 | $0.63 | ||
| Q2 25 | $0.02 | $0.59 | ||
| Q1 25 | $0.06 | $0.45 | ||
| Q4 24 | $0.08 | $0.60 | ||
| Q3 24 | $0.16 | $0.75 | ||
| Q2 24 | $0.08 | $0.75 | ||
| Q1 24 | $0.12 | $0.58 |
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 | $257.0K | $2.1M |
| 总债务越低越好 | $133.5M | — |
| 股东权益账面价值 | $112.2M | $124.6M |
| 总资产 | $283.5M | $365.6M |
| 负债/权益比越低杠杆越低 | 1.19× | — |
8季度趋势，按日历期对齐
现金及短期投资DLHCKFRC
| Q4 25 | $257.0K | $2.1M | ||
| Q3 25 | $125.0K | $1.3M | ||
| Q2 25 | $194.0K | $2.5M | ||
| Q1 25 | $196.0K | $444.0K | ||
| Q4 24 | $451.0K | $349.0K | ||
| Q3 24 | $342.0K | $127.0K | ||
| Q2 24 | $423.0K | $110.0K | ||
| Q1 24 | $238.0K | $106.0K |
总债务DLHCKFRC
| Q4 25 | $133.5M | — | ||
| Q3 25 | $128.0M | — | ||
| Q2 25 | $138.3M | — | ||
| Q1 25 | $147.3M | — | ||
| Q4 24 | $162.2M | — | ||
| Q3 24 | $149.4M | — | ||
| Q2 24 | $160.9M | — | ||
| Q1 24 | $164.8M | — |
股东权益DLHCKFRC
| Q4 25 | $112.2M | $124.6M | ||
| Q3 25 | $113.0M | $132.1M | ||
| Q2 25 | $113.7M | $134.4M | ||
| Q1 25 | $112.8M | $138.0M | ||
| Q4 24 | $111.4M | $154.6M | ||
| Q3 24 | $110.1M | $167.4M | ||
| Q2 24 | $108.6M | $166.6M | ||
| Q1 24 | $106.8M | $164.5M |
总资产DLHCKFRC
| Q4 25 | $283.5M | $365.6M | ||
| Q3 25 | $290.7M | $374.2M | ||
| Q2 25 | $299.3M | $373.6M | ||
| Q1 25 | $306.6M | $368.2M | ||
| Q4 24 | $325.0M | $357.8M | ||
| Q3 24 | $314.4M | $369.9M | ||
| Q2 24 | $325.0M | $362.7M | ||
| Q1 24 | $325.9M | $366.3M |
负债/权益比DLHCKFRC
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 1.22× | — | ||
| Q1 25 | 1.31× | — | ||
| Q4 24 | 1.46× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 1.48× | — | ||
| Q1 24 | 1.54× | — |
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 | $-4.8M | $19.7M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $16.7M |
| 自由现金流率自由现金流/营收 | -7.0% | 5.0% |
| 资本支出强度资本支出/营收 | 0.1% | 0.9% |
| 现金转化率经营现金流/净利润 | — | 3.82× |
| 过去12个月自由现金流最近4个季度 | $29.2M | $46.8M |
8季度趋势，按日历期对齐
经营现金流DLHCKFRC
| Q4 25 | $-4.8M | $19.7M | ||
| Q3 25 | $10.7M | $23.3M | ||
| Q2 25 | $9.6M | $18.4M | ||
| Q1 25 | $14.5M | $249.0K | ||
| Q4 24 | $-11.5M | $21.8M | ||
| Q3 24 | $12.4M | $31.0M | ||
| Q2 24 | $4.6M | $20.9M | ||
| Q1 24 | $5.2M | $13.2M |
自由现金流DLHCKFRC
| Q4 25 | $-4.8M | $16.7M | ||
| Q3 25 | $10.7M | $19.8M | ||
| Q2 25 | $9.4M | $14.2M | ||
| Q1 25 | $14.0M | $-3.9M | ||
| Q4 24 | $-12.1M | $20.9M | ||
| Q3 24 | $12.2M | $27.5M | ||
| Q2 24 | $4.5M | $17.8M | ||
| Q1 24 | $4.9M | $11.3M |
自由现金流率DLHCKFRC
| Q4 25 | -7.0% | 5.0% | ||
| Q3 25 | 13.1% | 6.0% | ||
| Q2 25 | 11.2% | 4.3% | ||
| Q1 25 | 15.6% | -1.2% | ||
| Q4 24 | -13.3% | 6.1% | ||
| Q3 24 | 12.7% | 7.8% | ||
| Q2 24 | 4.4% | 5.0% | ||
| Q1 24 | 4.9% | 3.2% |
资本支出强度DLHCKFRC
| Q4 25 | 0.1% | 0.9% | ||
| Q3 25 | 0.0% | 1.1% | ||
| Q2 25 | 0.3% | 1.2% | ||
| Q1 25 | 0.6% | 1.3% | ||
| Q4 24 | 0.6% | 0.3% | ||
| Q3 24 | 0.2% | 1.0% | ||
| Q2 24 | 0.2% | 0.9% | ||
| Q1 24 | 0.3% | 0.5% |
现金转化率DLHCKFRC
| Q4 25 | — | 3.82× | ||
| Q3 25 | — | 2.11× | ||
| Q2 25 | 33.12× | 1.76× | ||
| Q1 25 | 16.52× | 0.03× | ||
| Q4 24 | -10.35× | 1.97× | ||
| Q3 24 | 5.42× | 2.18× | ||
| Q2 24 | 4.06× | 1.48× | ||
| Q1 24 | 2.89× | 1.20× |
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
DLHC
| Sales Channel Directly To Consumer | $64.5M | 94% |
| Sales Channel Through Intermediary | $4.4M | 6% |
KFRC
| Flex Revenue | $303.6M | 91% |
| Finance And Accounting Segment | $25.7M | 8% |
| Direct Hire Revenue | $2.7M | 1% |
