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DLH Holdings Corp.（DLHC）与IMPINJ INC（PI）财务数据对比。点击上方公司名可切换其他公司
IMPINJ INC的季度营收约是DLH Holdings Corp.的1.1倍（$74.3M vs $68.9M），IMPINJ INC净利率更高（11.2% vs -1.9%，领先13.1%），IMPINJ INC同比增速更快（-0.0% vs -24.1%），IMPINJ INC自由现金流更多（$2.2M vs $-4.8M），过去两年IMPINJ INC的营收复合增速更高（-14.9% 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。
Impinj Inc.是一家美国射频识别（RFID）设备及软件提供商，成立于2000年，总部位于华盛顿州西雅图，源自加州理工学院Carver Mead与Chris Diorio的研究成果。公司主营EPC Class 1 Gen 2无源超高频RFID芯片、读写器、读写器芯片、天线，以及芯片编码、业务数据采集相关的软件应用，为各行业RFID应用提供全链路产品支持。
DLHC vs PI — 直观对比
营收规模更大
PI
是对方的1.1倍
$68.9M
营收增速更快
PI
高出24.1%
-24.1%
净利率更高
PI
高出13.1%
-1.9%
自由现金流更多
PI
多$7.0M
$-4.8M
两年增速更快
PI
近两年复合增速
-17.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $68.9M | $74.3M |
| 净利润 | $-1.3M | $8.3M |
| 毛利率 | — | 49.1% |
| 营业利润率 | 2.1% | 30.5% |
| 净利率 | -1.9% | 11.2% |
| 营收同比 | -24.1% | -0.0% |
| 净利润同比 | -218.7% | — |
| 每股收益（稀释后） | $-0.09 | $0.14 |
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DLHCPI
| Q1 26 | — | $74.3M | ||
| Q4 25 | $68.9M | $92.8M | ||
| Q3 25 | $81.2M | $96.1M | ||
| Q2 25 | $83.3M | $97.9M | ||
| Q1 25 | $89.2M | $74.3M | ||
| Q4 24 | $90.8M | $91.6M | ||
| Q3 24 | $96.4M | $95.2M | ||
| Q2 24 | $100.7M | $102.5M |
净利润DLHCPI
| Q1 26 | — | $8.3M | ||
| Q4 25 | $-1.3M | $-1.1M | ||
| Q3 25 | $-920.0K | $-12.8M | ||
| Q2 25 | $289.0K | $11.6M | ||
| Q1 25 | $878.0K | $-8.5M | ||
| Q4 24 | $1.1M | $-2.7M | ||
| Q3 24 | $2.3M | $221.0K | ||
| Q2 24 | $1.1M | $10.0M |
毛利率DLHCPI
| Q1 26 | — | 49.1% | ||
| Q4 25 | — | 51.8% | ||
| Q3 25 | — | 50.3% | ||
| Q2 25 | — | 57.8% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.5% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | — | 56.1% |
营业利润率DLHCPI
| Q1 26 | — | 30.5% | ||
| Q4 25 | 2.1% | -2.9% | ||
| Q3 25 | 2.8% | 0.7% | ||
| Q2 25 | 4.5% | 11.1% | ||
| Q1 25 | 5.7% | -12.9% | ||
| Q4 24 | 6.2% | -3.9% | ||
| Q3 24 | 6.6% | -0.8% | ||
| Q2 24 | 5.7% | 8.8% |
净利率DLHCPI
| Q1 26 | — | 11.2% | ||
| Q4 25 | -1.9% | -1.2% | ||
| Q3 25 | -1.1% | -13.3% | ||
| Q2 25 | 0.3% | 11.8% | ||
| Q1 25 | 1.0% | -11.4% | ||
| Q4 24 | 1.2% | -2.9% | ||
| Q3 24 | 2.4% | 0.2% | ||
| Q2 24 | 1.1% | 9.7% |
每股收益（稀释后）DLHCPI
| Q1 26 | — | $0.14 | ||
| Q4 25 | $-0.09 | $-0.02 | ||
| Q3 25 | $-0.07 | $-0.44 | ||
| Q2 25 | $0.02 | $0.39 | ||
| Q1 25 | $0.06 | $-0.30 | ||
| Q4 24 | $0.08 | $-0.06 | ||
| Q3 24 | $0.16 | $0.01 | ||
| Q2 24 | $0.08 | $0.34 |
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 | $131.8M |
| 总债务越低越好 | $133.5M | $241.5M |
| 股东权益账面价值 | $112.2M | — |
| 总资产 | $283.5M | $502.5M |
| 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DLHCPI
| Q1 26 | — | $131.8M | ||
| Q4 25 | $257.0K | $175.3M | ||
| Q3 25 | $125.0K | $190.1M | ||
| Q2 25 | $194.0K | $193.2M | ||
| Q1 25 | $196.0K | $147.9M | ||
| Q4 24 | $451.0K | $164.7M | ||
| Q3 24 | $342.0K | $170.3M | ||
| Q2 24 | $423.0K | $220.2M |
总债务DLHCPI
| Q1 26 | — | $241.5M | ||
| Q4 25 | $133.5M | $280.9M | ||
| Q3 25 | $128.0M | $280.4M | ||
| Q2 25 | $138.3M | — | ||
| Q1 25 | $147.3M | — | ||
| Q4 24 | $162.2M | $283.5M | ||
| Q3 24 | $149.4M | — | ||
| Q2 24 | $160.9M | — |
股东权益DLHCPI
| Q1 26 | — | — | ||
| Q4 25 | $112.2M | $209.2M | ||
| Q3 25 | $113.0M | $195.0M | ||
| Q2 25 | $113.7M | $187.7M | ||
| Q1 25 | $112.8M | $160.6M | ||
| Q4 24 | $111.4M | $149.9M | ||
| Q3 24 | $110.1M | $136.1M | ||
| Q2 24 | $108.6M | $117.0M |
总资产DLHCPI
| Q1 26 | — | $502.5M | ||
| Q4 25 | $283.5M | $545.2M | ||
| Q3 25 | $290.7M | $516.5M | ||
| Q2 25 | $299.3M | $508.8M | ||
| Q1 25 | $306.6M | $479.8M | ||
| Q4 24 | $325.0M | $489.1M | ||
| Q3 24 | $314.4M | $476.4M | ||
| Q2 24 | $325.0M | $446.1M |
负债/权益比DLHCPI
| Q1 26 | — | — | ||
| Q4 25 | 1.19× | 1.34× | ||
| Q3 25 | 1.13× | 1.44× | ||
| Q2 25 | 1.22× | — | ||
| Q1 25 | 1.31× | — | ||
| Q4 24 | 1.46× | 1.89× | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 1.48× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $2.2M |
| 自由现金流率自由现金流/营收 | -7.0% | 3.0% |
| 资本支出强度资本支出/营收 | 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 | $29.2M | $61.1M |
8季度趋势，按日历期对齐
经营现金流DLHCPI
| Q1 26 | — | — | ||
| Q4 25 | $-4.8M | $15.1M | ||
| Q3 25 | $10.7M | $20.9M | ||
| Q2 25 | $9.6M | $33.9M | ||
| Q1 25 | $14.5M | $-11.1M | ||
| Q4 24 | $-11.5M | $12.6M | ||
| Q3 24 | $12.4M | $10.1M | ||
| Q2 24 | $4.6M | $45.5M |
自由现金流DLHCPI
| Q1 26 | — | $2.2M | ||
| Q4 25 | $-4.8M | $13.6M | ||
| Q3 25 | $10.7M | $18.0M | ||
| Q2 25 | $9.4M | $27.3M | ||
| Q1 25 | $14.0M | $-13.0M | ||
| Q4 24 | $-12.1M | $8.5M | ||
| Q3 24 | $12.2M | $4.7M | ||
| Q2 24 | $4.5M | $44.1M |
自由现金流率DLHCPI
| Q1 26 | — | 3.0% | ||
| Q4 25 | -7.0% | 14.7% | ||
| Q3 25 | 13.1% | 18.7% | ||
| Q2 25 | 11.2% | 27.9% | ||
| Q1 25 | 15.6% | -17.5% | ||
| Q4 24 | -13.3% | 9.3% | ||
| Q3 24 | 12.7% | 4.9% | ||
| Q2 24 | 4.4% | 43.0% |
资本支出强度DLHCPI
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 1.6% | ||
| Q3 25 | 0.0% | 3.1% | ||
| Q2 25 | 0.3% | 6.7% | ||
| Q1 25 | 0.6% | 2.5% | ||
| Q4 24 | 0.6% | 4.5% | ||
| Q3 24 | 0.2% | 5.7% | ||
| Q2 24 | 0.2% | 1.3% |
现金转化率DLHCPI
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 33.12× | 2.93× | ||
| Q1 25 | 16.52× | — | ||
| Q4 24 | -10.35× | — | ||
| Q3 24 | 5.42× | 45.56× | ||
| Q2 24 | 4.06× | 4.56× |
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% |
PI
暂无分部数据
