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DLH Holdings Corp.（DLHC）与Planet Labs PBC（PL）财务数据对比。点击上方公司名可切换其他公司
Planet Labs PBC的季度营收约是DLH Holdings Corp.的1.2倍（$81.3M vs $68.9M），DLH Holdings Corp.净利率更高（-1.9% vs -72.8%，领先70.9%），Planet Labs PBC同比增速更快（32.6% vs -24.1%），Planet Labs PBC自由现金流更多（$1.9M vs $-4.8M），过去两年Planet Labs PBC的营收复合增速更高（17.5% 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。
Planet Labs PBC（常简称为Planet）是总部位于美国加利福尼亚州旧金山的上市地球影像企业，核心目标是实现全球范围的每日成像，以此监测地表变化、精准识别相关趋势，为多行业的地理数据分析需求提供可靠的数据支持。
DLHC vs PL — 直观对比
营收规模更大
PL
是对方的1.2倍
$68.9M
营收增速更快
PL
高出56.7%
-24.1%
净利率更高
DLHC
高出70.9%
-72.8%
自由现金流更多
PL
多$6.7M
$-4.8M
两年增速更快
PL
近两年复合增速
-17.4%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $68.9M | $81.3M |
| 净利润 | $-1.3M | $-59.2M |
| 毛利率 | — | 57.3% |
| 营业利润率 | 2.1% | -22.6% |
| 净利率 | -1.9% | -72.8% |
| 营收同比 | -24.1% | 32.6% |
| 净利润同比 | -218.7% | -194.7% |
| 每股收益（稀释后） | $-0.09 | $-0.19 |
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DLHCPL
| Q4 25 | $68.9M | $81.3M | ||
| Q3 25 | $81.2M | $73.4M | ||
| Q2 25 | $83.3M | $66.3M | ||
| Q1 25 | $89.2M | $61.6M | ||
| Q4 24 | $90.8M | $61.3M | ||
| Q3 24 | $96.4M | $61.1M | ||
| Q2 24 | $100.7M | $60.4M | ||
| Q1 24 | $101.0M | $58.9M |
净利润DLHCPL
| Q4 25 | $-1.3M | $-59.2M | ||
| Q3 25 | $-920.0K | $-22.6M | ||
| Q2 25 | $289.0K | $-12.6M | ||
| Q1 25 | $878.0K | $-35.2M | ||
| Q4 24 | $1.1M | $-20.1M | ||
| Q3 24 | $2.3M | $-38.7M | ||
| Q2 24 | $1.1M | $-29.3M | ||
| Q1 24 | $1.8M | $-30.1M |
毛利率DLHCPL
| Q4 25 | — | 57.3% | ||
| Q3 25 | — | 57.6% | ||
| Q2 25 | — | 55.2% | ||
| Q1 25 | — | 62.1% | ||
| Q4 24 | — | 61.2% | ||
| Q3 24 | — | 52.9% | ||
| Q2 24 | — | 52.4% | ||
| Q1 24 | — | 55.2% |
营业利润率DLHCPL
| Q4 25 | 2.1% | -22.6% | ||
| Q3 25 | 2.8% | -24.5% | ||
| Q2 25 | 4.5% | -34.4% | ||
| Q1 25 | 5.7% | -31.5% | ||
| Q4 24 | 6.2% | -36.9% | ||
| Q3 24 | 6.6% | -64.8% | ||
| Q2 24 | 5.7% | -57.2% | ||
| Q1 24 | 5.9% | -57.6% |
净利率DLHCPL
| Q4 25 | -1.9% | -72.8% | ||
| Q3 25 | -1.1% | -30.8% | ||
| Q2 25 | 0.3% | -19.1% | ||
| Q1 25 | 1.0% | -57.1% | ||
| Q4 24 | 1.2% | -32.8% | ||
| Q3 24 | 2.4% | -63.3% | ||
| Q2 24 | 1.1% | -48.5% | ||
| Q1 24 | 1.8% | -51.1% |
每股收益（稀释后）DLHCPL
| Q4 25 | $-0.09 | $-0.19 | ||
| Q3 25 | $-0.07 | $-0.07 | ||
| Q2 25 | $0.02 | $-0.04 | ||
| Q1 25 | $0.06 | $-0.12 | ||
| Q4 24 | $0.08 | $-0.07 | ||
| Q3 24 | $0.16 | $-0.13 | ||
| Q2 24 | $0.08 | $-0.10 | ||
| Q1 24 | $0.12 | $-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 | $257.0K | $443.3M |
| 总债务越低越好 | $133.5M | — |
| 股东权益账面价值 | $112.2M | $349.6M |
| 总资产 | $283.5M | $1.1B |
| 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DLHCPL
| Q4 25 | $257.0K | $443.3M | ||
| Q3 25 | $125.0K | $181.1M | ||
| Q2 25 | $194.0K | $133.5M | ||
| Q1 25 | $196.0K | $118.0M | ||
| Q4 24 | $451.0K | $139.0M | ||
| Q3 24 | $342.0K | $148.3M | ||
| Q2 24 | $423.0K | $107.4M | ||
| Q1 24 | $238.0K | $83.9M |
总债务DLHCPL
| 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DLHCPL
| Q4 25 | $112.2M | $349.6M | ||
| Q3 25 | $113.0M | $435.7M | ||
| Q2 25 | $113.7M | $444.8M | ||
| Q1 25 | $112.8M | $441.3M | ||
| Q4 24 | $111.4M | $464.6M | ||
| Q3 24 | $110.1M | $473.2M | ||
| Q2 24 | $108.6M | $500.3M | ||
| Q1 24 | $106.8M | $518.0M |
总资产DLHCPL
| Q4 25 | $283.5M | $1.1B | ||
| Q3 25 | $290.7M | $696.4M | ||
| Q2 25 | $299.3M | $658.4M | ||
| Q1 25 | $306.6M | $633.8M | ||
| Q4 24 | $325.0M | $630.8M | ||
| Q3 24 | $314.4M | $658.4M | ||
| Q2 24 | $325.0M | $674.6M | ||
| Q1 24 | $325.9M | $702.0M |
负债/权益比DLHCPL
| 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 | $28.6M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $1.9M |
| 自由现金流率自由现金流/营收 | -7.0% | 2.3% |
| 资本支出强度资本支出/营收 | 0.1% | 32.9% |
| 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 | $40.7M |
8季度趋势，按日历期对齐
经营现金流DLHCPL
| Q4 25 | $-4.8M | $28.6M | ||
| Q3 25 | $10.7M | $67.8M | ||
| Q2 25 | $9.6M | $17.3M | ||
| Q1 25 | $14.5M | $-6.3M | ||
| Q4 24 | $-11.5M | $4.1M | ||
| Q3 24 | $12.4M | $-7.9M | ||
| Q2 24 | $4.6M | $-4.3M | ||
| Q1 24 | $5.2M | $-6.8M |
自由现金流DLHCPL
| Q4 25 | $-4.8M | $1.9M | ||
| Q3 25 | $10.7M | $47.5M | ||
| Q2 25 | $9.4M | $9.2M | ||
| Q1 25 | $14.0M | $-17.9M | ||
| Q4 24 | $-12.1M | $-3.6M | ||
| Q3 24 | $12.2M | $-23.0M | ||
| Q2 24 | $4.5M | $-14.2M | ||
| Q1 24 | $4.9M | $-15.7M |
自由现金流率DLHCPL
| Q4 25 | -7.0% | 2.3% | ||
| Q3 25 | 13.1% | 64.7% | ||
| Q2 25 | 11.2% | 13.9% | ||
| Q1 25 | 15.6% | -29.1% | ||
| Q4 24 | -13.3% | -5.8% | ||
| Q3 24 | 12.7% | -37.6% | ||
| Q2 24 | 4.4% | -23.6% | ||
| Q1 24 | 4.9% | -26.7% |
资本支出强度DLHCPL
| Q4 25 | 0.1% | 32.9% | ||
| Q3 25 | 0.0% | 27.6% | ||
| Q2 25 | 0.3% | 12.3% | ||
| Q1 25 | 0.6% | 18.9% | ||
| Q4 24 | 0.6% | 12.5% | ||
| Q3 24 | 0.2% | 24.8% | ||
| Q2 24 | 0.2% | 16.4% | ||
| Q1 24 | 0.3% | 15.1% |
现金转化率DLHCPL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 33.12× | — | ||
| Q1 25 | 16.52× | — | ||
| Q4 24 | -10.35× | — | ||
| Q3 24 | 5.42× | — | ||
| Q2 24 | 4.06× | — | ||
| 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% |
PL
| Defense And Intelligence | $49.4M | 61% |
| Civil Government | $18.8M | 23% |
| Commercial | $13.1M | 16% |
