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dLocal Ltd（DLO）与Shift4 Payments, Inc.（FOUR）财务数据对比。点击上方公司名可切换其他公司
Shift4 Payments, Inc.的季度营收约是dLocal Ltd的3.5倍（$1.2B vs $337.9M），dLocal Ltd净利率更高（16.5% vs 3.4%，领先13.1%），dLocal Ltd同比增速更快（65.2% vs 34.0%），Shift4 Payments, Inc.自由现金流更多（$222.5M vs $99.8M）
dLocal是一家总部位于乌拉圭的金融科技企业，专注于提供跨境支付解决方案，搭建全球商户与新兴市场之间的支付链路，助力国际商户顺畅接入新兴市场本地支付网络，高效开展跨境业务。
Shift4 Payments是美国支付处理服务商，总部位于宾夕法尼亚州阿伦敦，1999年由贾里德·艾萨克曼创立。公司为零售、酒店、休闲、餐饮等行业超20万家商户提供支付处理服务，主营移动支付软硬件等商业技术，2020年于纽约证券交易所挂牌上市。
DLO vs FOUR — 直观对比
营收规模更大
FOUR
是对方的3.5倍
$337.9M
营收增速更快
DLO
高出31.2%
34.0%
净利率更高
DLO
高出13.1%
3.4%
自由现金流更多
FOUR
多$122.7M
$99.8M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $337.9M | $1.2B |
| 净利润 | $55.6M | $40.2M |
| 毛利率 | 34.3% | — |
| 营业利润率 | 18.6% | 10.8% |
| 净利率 | 16.5% | 3.4% |
| 营收同比 | 65.2% | 34.0% |
| 净利润同比 | 87.3% | -65.3% |
| 每股收益（稀释后） | $0.18 | — |
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DLOFOUR
| Q4 25 | $337.9M | $1.2B | ||
| Q3 25 | $282.5M | $1.2B | ||
| Q2 25 | — | $966.2M | ||
| Q1 25 | — | $848.3M | ||
| Q4 24 | $204.5M | $887.0M | ||
| Q3 24 | $185.8M | $909.2M | ||
| Q2 24 | — | $827.0M | ||
| Q1 24 | — | $707.4M |
净利润DLOFOUR
| Q4 25 | $55.6M | $40.2M | ||
| Q3 25 | $141.3M | $28.1M | ||
| Q2 25 | — | $34.0M | ||
| Q1 25 | — | $16.7M | ||
| Q4 24 | $29.7M | $116.0M | ||
| Q3 24 | $90.8M | $53.8M | ||
| Q2 24 | — | $39.2M | ||
| Q1 24 | — | $20.6M |
毛利率DLOFOUR
| Q4 25 | 34.3% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率DLOFOUR
| Q4 25 | 18.6% | 10.8% | ||
| Q3 25 | 19.7% | 9.7% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | 20.7% | 9.7% | ||
| Q3 24 | 22.1% | 8.8% | ||
| Q2 24 | — | 7.2% | ||
| Q1 24 | — | 3.0% |
净利率DLOFOUR
| Q4 25 | 16.5% | 3.4% | ||
| Q3 25 | 50.0% | 2.4% | ||
| Q2 25 | — | 3.5% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | 14.5% | 13.1% | ||
| Q3 24 | 48.9% | 5.9% | ||
| Q2 24 | — | 4.7% | ||
| Q1 24 | — | 2.9% |
每股收益（稀释后）DLOFOUR
| Q4 25 | $0.18 | — | ||
| Q3 25 | $0.17 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0.09 | — | ||
| Q3 24 | $0.09 | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $719.9M | $964.0M |
| 总债务越低越好 | $86.7M | $4.5B |
| 股东权益账面价值 | $569.4M | $1.4B |
| 总资产 | $1.5B | $8.7B |
| 负债/权益比越低杠杆越低 | 0.15× | 3.15× |
8季度趋势，按日历期对齐
现金及短期投资DLOFOUR
| Q4 25 | $719.9M | $964.0M | ||
| Q3 25 | $604.5M | $1.5B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $425.2M | $1.2B | ||
| Q3 24 | $560.5M | $1.4B | ||
| Q2 24 | — | $205.0M | ||
| Q1 24 | — | $522.9M |
总债务DLOFOUR
| Q4 25 | $86.7M | $4.5B | ||
| Q3 25 | $63.1M | $4.7B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $39.8M | $2.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DLOFOUR
| Q4 25 | $569.4M | $1.4B | ||
| Q3 25 | $504.7M | $1.7B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $805.2M | ||
| Q4 24 | $489.0M | $806.6M | ||
| Q3 24 | $457.0M | $811.8M | ||
| Q2 24 | — | $700.8M | ||
| Q1 24 | — | $674.5M |
总资产DLOFOUR
| Q4 25 | $1.5B | $8.7B | ||
| Q3 25 | $1.4B | $9.0B | ||
| Q2 25 | — | $7.0B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | $1.2B | $5.0B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.4B |
负债/权益比DLOFOUR
| Q4 25 | 0.15× | 3.15× | ||
| Q3 25 | 0.12× | 2.83× | ||
| Q2 25 | — | 2.34× | ||
| Q1 25 | — | 3.53× | ||
| Q4 24 | 0.08× | 3.52× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $100.4M | $223.7M |
| 自由现金流经营现金流 - 资本支出 | $99.8M | $222.5M |
| 自由现金流率自由现金流/营收 | 29.5% | 18.7% |
| 资本支出强度资本支出/营收 | 0.2% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.80× | 5.56× |
| 过去12个月自由现金流最近4个季度 | $378.7M | $624.0M |
8季度趋势，按日历期对齐
经营现金流DLOFOUR
| Q4 25 | $100.4M | $223.7M | ||
| Q3 25 | $315.0M | $171.8M | ||
| Q2 25 | — | $141.9M | ||
| Q1 25 | — | $96.6M | ||
| Q4 24 | $-141.1M | $145.4M | ||
| Q3 24 | $108.3M | $182.1M | ||
| Q2 24 | — | $116.1M | ||
| Q1 24 | — | $56.7M |
自由现金流DLOFOUR
| Q4 25 | $99.8M | $222.5M | ||
| Q3 25 | $313.4M | $165.4M | ||
| Q2 25 | — | $141.0M | ||
| Q1 25 | — | $95.1M | ||
| Q4 24 | $-141.6M | $143.8M | ||
| Q3 24 | $107.1M | $180.1M | ||
| Q2 24 | — | $113.9M | ||
| Q1 24 | — | $55.4M |
自由现金流率DLOFOUR
| Q4 25 | 29.5% | 18.7% | ||
| Q3 25 | 110.9% | 14.1% | ||
| Q2 25 | — | 14.6% | ||
| Q1 25 | — | 11.2% | ||
| Q4 24 | -69.2% | 16.2% | ||
| Q3 24 | 57.6% | 19.8% | ||
| Q2 24 | — | 13.8% | ||
| Q1 24 | — | 7.8% |
资本支出强度DLOFOUR
| Q4 25 | 0.2% | 0.1% | ||
| Q3 25 | 0.6% | 0.5% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.2% | 0.2% | ||
| Q3 24 | 0.7% | 0.2% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.2% |
现金转化率DLOFOUR
| Q4 25 | 1.80× | 5.56× | ||
| Q3 25 | 2.23× | 6.11× | ||
| Q2 25 | — | 4.17× | ||
| Q1 25 | — | 5.78× | ||
| Q4 24 | -4.75× | 1.25× | ||
| Q3 24 | 1.19× | 3.38× | ||
| Q2 24 | — | 2.96× | ||
| Q1 24 | — | 2.75× |
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
DLO
暂无分部数据
FOUR
| Payments Based Revenue | $788.8M | 66% |
| Other | $255.0M | 21% |
| Subscription And Other Revenues | $144.8M | 12% |
