vs
DLH Holdings Corp.（DLHC）与PDF SOLUTIONS INC（PDFS）财务数据对比。点击上方公司名可切换其他公司
DLH Holdings Corp.的季度营收约是PDF SOLUTIONS INC的1.1倍（$68.9M vs $62.4M），PDF SOLUTIONS INC净利率更高（-0.1% vs -1.9%，领先1.8%），PDF SOLUTIONS INC同比增速更快（24.6% vs -24.1%），PDF SOLUTIONS INC自由现金流更多（$7.5M vs $-4.8M），过去两年PDF SOLUTIONS INC的营收复合增速更高（22.9% 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。
PDF Solutions Inc是一家总部位于美国加利福尼亚州圣克拉拉的跨国企业，主营软件业务与工程技术服务，目前在纳斯达克交易所挂牌上市，股票代码为PDFS。
DLHC vs PDFS — 直观对比
营收规模更大
DLHC
是对方的1.1倍
$62.4M
营收增速更快
PDFS
高出48.7%
-24.1%
净利率更高
PDFS
高出1.8%
-1.9%
自由现金流更多
PDFS
多$12.4M
$-4.8M
两年增速更快
PDFS
近两年复合增速
-17.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $68.9M | $62.4M |
| 净利润 | $-1.3M | $-48.0K |
| 毛利率 | — | 72.9% |
| 营业利润率 | 2.1% | 5.5% |
| 净利率 | -1.9% | -0.1% |
| 营收同比 | -24.1% | 24.6% |
| 净利润同比 | -218.7% | -108.9% |
| 每股收益（稀释后） | $-0.09 | $0.00 |
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DLHCPDFS
| Q4 25 | $68.9M | $62.4M | ||
| Q3 25 | $81.2M | $57.1M | ||
| Q2 25 | $83.3M | $51.7M | ||
| Q1 25 | $89.2M | $47.8M | ||
| Q4 24 | $90.8M | $50.1M | ||
| Q3 24 | $96.4M | $46.4M | ||
| Q2 24 | $100.7M | $41.7M | ||
| Q1 24 | $101.0M | $41.3M |
净利润DLHCPDFS
| Q4 25 | $-1.3M | $-48.0K | ||
| Q3 25 | $-920.0K | $1.3M | ||
| Q2 25 | $289.0K | $1.1M | ||
| Q1 25 | $878.0K | $-3.0M | ||
| Q4 24 | $1.1M | $539.0K | ||
| Q3 24 | $2.3M | $2.2M | ||
| Q2 24 | $1.1M | $1.7M | ||
| Q1 24 | $1.8M | $-393.0K |
毛利率DLHCPDFS
| Q4 25 | — | 72.9% | ||
| Q3 25 | — | 72.3% | ||
| Q2 25 | — | 71.2% | ||
| Q1 25 | — | 72.9% | ||
| Q4 24 | — | 68.3% | ||
| Q3 24 | — | 73.1% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 67.3% |
营业利润率DLHCPDFS
| Q4 25 | 2.1% | 5.5% | ||
| Q3 25 | 2.8% | 8.5% | ||
| Q2 25 | 4.5% | 2.2% | ||
| Q1 25 | 5.7% | -7.4% | ||
| Q4 24 | 6.2% | 1.0% | ||
| Q3 24 | 6.6% | 4.6% | ||
| Q2 24 | 5.7% | 0.6% | ||
| Q1 24 | 5.9% | -4.7% |
净利率DLHCPDFS
| Q4 25 | -1.9% | -0.1% | ||
| Q3 25 | -1.1% | 2.3% | ||
| Q2 25 | 0.3% | 2.2% | ||
| Q1 25 | 1.0% | -6.3% | ||
| Q4 24 | 1.2% | 1.1% | ||
| Q3 24 | 2.4% | 4.8% | ||
| Q2 24 | 1.1% | 4.1% | ||
| Q1 24 | 1.8% | -1.0% |
每股收益（稀释后）DLHCPDFS
| Q4 25 | $-0.09 | $0.00 | ||
| Q3 25 | $-0.07 | $0.03 | ||
| Q2 25 | $0.02 | $0.03 | ||
| Q1 25 | $0.06 | $-0.08 | ||
| Q4 24 | $0.08 | $0.01 | ||
| Q3 24 | $0.16 | $0.06 | ||
| Q2 24 | $0.08 | $0.04 | ||
| Q1 24 | $0.12 | $-0.01 |
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 | $42.2M |
| 总债务越低越好 | $133.5M | $67.0M |
| 股东权益账面价值 | $112.2M | $271.0M |
| 总资产 | $283.5M | $418.7M |
| 负债/权益比越低杠杆越低 | 1.19× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资DLHCPDFS
| Q4 25 | $257.0K | $42.2M | ||
| Q3 25 | $125.0K | $35.9M | ||
| Q2 25 | $194.0K | $40.4M | ||
| Q1 25 | $196.0K | $54.1M | ||
| Q4 24 | $451.0K | $114.9M | ||
| Q3 24 | $342.0K | $120.2M | ||
| Q2 24 | $423.0K | $117.9M | ||
| Q1 24 | $238.0K | $122.9M |
总债务DLHCPDFS
| Q4 25 | $133.5M | $67.0M | ||
| Q3 25 | $128.0M | $67.6M | ||
| Q2 25 | $138.3M | $68.1M | ||
| Q1 25 | $147.3M | $68.7M | ||
| Q4 24 | $162.2M | — | ||
| Q3 24 | $149.4M | — | ||
| Q2 24 | $160.9M | — | ||
| Q1 24 | $164.8M | — |
股东权益DLHCPDFS
| Q4 25 | $112.2M | $271.0M | ||
| Q3 25 | $113.0M | $264.4M | ||
| Q2 25 | $113.7M | $257.5M | ||
| Q1 25 | $112.8M | $249.0M | ||
| Q4 24 | $111.4M | $246.0M | ||
| Q3 24 | $110.1M | $240.5M | ||
| Q2 24 | $108.6M | $232.2M | ||
| Q1 24 | $106.8M | $225.4M |
总资产DLHCPDFS
| Q4 25 | $283.5M | $418.7M | ||
| Q3 25 | $290.7M | $406.4M | ||
| Q2 25 | $299.3M | $391.1M | ||
| Q1 25 | $306.6M | $390.0M | ||
| Q4 24 | $325.0M | $315.3M | ||
| Q3 24 | $314.4M | $307.4M | ||
| Q2 24 | $325.0M | $298.0M | ||
| Q1 24 | $325.9M | $286.8M |
负债/权益比DLHCPDFS
| Q4 25 | 1.19× | 0.25× | ||
| Q3 25 | 1.13× | 0.26× | ||
| Q2 25 | 1.22× | 0.26× | ||
| Q1 25 | 1.31× | 0.28× | ||
| 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 | $17.3M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $7.5M |
| 自由现金流率自由现金流/营收 | -7.0% | 12.1% |
| 资本支出强度资本支出/营收 | 0.1% | 15.7% |
| 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 | $29.2M | $-8.6M |
8季度趋势，按日历期对齐
经营现金流DLHCPDFS
| Q4 25 | $-4.8M | $17.3M | ||
| Q3 25 | $10.7M | $3.3M | ||
| Q2 25 | $9.6M | $-5.2M | ||
| Q1 25 | $14.5M | $8.6M | ||
| Q4 24 | $-11.5M | $1.6M | ||
| Q3 24 | $12.4M | $9.3M | ||
| Q2 24 | $4.6M | $684.0K | ||
| Q1 24 | $5.2M | $-1.9M |
自由现金流DLHCPDFS
| Q4 25 | $-4.8M | $7.5M | ||
| Q3 25 | $10.7M | $-2.9M | ||
| Q2 25 | $9.4M | $-13.8M | ||
| Q1 25 | $14.0M | $535.0K | ||
| Q4 24 | $-12.1M | $-4.0M | ||
| Q3 24 | $12.2M | $5.1M | ||
| Q2 24 | $4.5M | $-4.6M | ||
| Q1 24 | $4.9M | $-3.9M |
自由现金流率DLHCPDFS
| Q4 25 | -7.0% | 12.1% | ||
| Q3 25 | 13.1% | -5.1% | ||
| Q2 25 | 11.2% | -26.6% | ||
| Q1 25 | 15.6% | 1.1% | ||
| Q4 24 | -13.3% | -8.0% | ||
| Q3 24 | 12.7% | 11.0% | ||
| Q2 24 | 4.4% | -11.1% | ||
| Q1 24 | 4.9% | -9.4% |
资本支出强度DLHCPDFS
| Q4 25 | 0.1% | 15.7% | ||
| Q3 25 | 0.0% | 10.8% | ||
| Q2 25 | 0.3% | 16.5% | ||
| Q1 25 | 0.6% | 17.0% | ||
| Q4 24 | 0.6% | 11.3% | ||
| Q3 24 | 0.2% | 9.0% | ||
| Q2 24 | 0.2% | 12.8% | ||
| Q1 24 | 0.3% | 4.9% |
现金转化率DLHCPDFS
| Q4 25 | — | — | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | 33.12× | -4.55× | ||
| Q1 25 | 16.52× | — | ||
| Q4 24 | -10.35× | 2.98× | ||
| Q3 24 | 5.42× | 4.20× | ||
| Q2 24 | 4.06× | 0.40× | ||
| Q1 24 | 2.89× | — |
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% |
PDFS
| Volumebased | $38.0M | 61% |
| Other | $24.4M | 39% |
