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DELUXE CORP（DLX）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
罗塞塔石碑的季度营收约是DELUXE CORP的1.1倍（$586.5M vs $535.2M），DELUXE CORP净利率更高（2.2% vs -21.0%，领先23.3%），罗塞塔石碑同比增速更快（73.0% vs 2.8%），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs 0.0%）
德朗士公司是一家美国企业，提供支付处理、数据服务、票据与促销产品以及商户服务，业务分为B2B支付、数据、印刷和商户服务四大板块。截至2025年，公司为数百万中小企业和数千家金融机构提供服务，每年处理支付交易总额超2.8万亿美元，虽传统核心业务为票据印刷等印刷产品，如今支付与数据服务已成为核心板块。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
DLX vs STEP — 直观对比
营收规模更大
STEP
是对方的1.1倍
$535.2M
营收增速更快
STEP
高出70.2%
2.8%
净利率更高
DLX
高出23.3%
-21.0%
两年增速更快
STEP
近两年复合增速
0.0%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $535.2M | $586.5M |
| 净利润 | $12.0M | $-123.5M |
| 毛利率 | 52.2% | — |
| 营业利润率 | 8.9% | -33.2% |
| 净利率 | 2.2% | -21.0% |
| 营收同比 | 2.8% | 73.0% |
| 净利润同比 | -5.0% | 35.7% |
| 每股收益（稀释后） | $0.25 | $-1.55 |
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DLXSTEP
| Q4 25 | $535.2M | $586.5M | ||
| Q3 25 | $540.2M | $454.2M | ||
| Q2 25 | $521.3M | $364.3M | ||
| Q1 25 | $536.5M | $377.7M | ||
| Q4 24 | $520.6M | $339.0M | ||
| Q3 24 | $528.4M | $271.7M | ||
| Q2 24 | $537.8M | $186.4M | ||
| Q1 24 | $535.0M | $356.8M |
净利润DLXSTEP
| Q4 25 | $12.0M | $-123.5M | ||
| Q3 25 | $33.7M | $-366.1M | ||
| Q2 25 | $22.4M | $-38.4M | ||
| Q1 25 | $14.0M | $-18.5M | ||
| Q4 24 | $12.6M | $-192.0M | ||
| Q3 24 | $8.9M | $17.6M | ||
| Q2 24 | $20.5M | $13.3M | ||
| Q1 24 | $10.8M | $30.8M |
毛利率DLXSTEP
| Q4 25 | 52.2% | — | ||
| Q3 25 | 53.9% | — | ||
| Q2 25 | 53.6% | — | ||
| Q1 25 | 52.4% | — | ||
| Q4 24 | 52.3% | — | ||
| Q3 24 | 53.3% | — | ||
| Q2 24 | 53.7% | — | ||
| Q1 24 | 53.0% | — |
营业利润率DLXSTEP
| Q4 25 | 8.9% | -33.2% | ||
| Q3 25 | 14.0% | -148.8% | ||
| Q2 25 | 11.7% | -5.6% | ||
| Q1 25 | 9.0% | 2.6% | ||
| Q4 24 | 9.0% | -101.7% | ||
| Q3 24 | 7.9% | 21.3% | ||
| Q2 24 | 11.0% | 29.4% | ||
| Q1 24 | 8.3% | 26.5% |
净利率DLXSTEP
| Q4 25 | 2.2% | -21.0% | ||
| Q3 25 | 6.2% | -80.6% | ||
| Q2 25 | 4.3% | -10.5% | ||
| Q1 25 | 2.6% | -4.9% | ||
| Q4 24 | 2.4% | -56.6% | ||
| Q3 24 | 1.7% | 6.5% | ||
| Q2 24 | 3.8% | 7.2% | ||
| Q1 24 | 2.0% | 8.6% |
每股收益（稀释后）DLXSTEP
| Q4 25 | $0.25 | $-1.55 | ||
| Q3 25 | $0.74 | $-4.66 | ||
| Q2 25 | $0.50 | $-0.49 | ||
| Q1 25 | $0.31 | $-0.37 | ||
| Q4 24 | $0.28 | $-2.61 | ||
| Q3 24 | $0.20 | $0.26 | ||
| Q2 24 | $0.46 | $0.20 | ||
| Q1 24 | $0.24 | $0.47 |
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 | $36.9M | — |
| 总债务越低越好 | — | $270.2M |
| 股东权益账面价值 | $680.7M | $-378.8M |
| 总资产 | $2.9B | $5.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DLXSTEP
| Q4 25 | $36.9M | — | ||
| Q3 25 | $25.8M | — | ||
| Q2 25 | $26.0M | — | ||
| Q1 25 | $30.3M | — | ||
| Q4 24 | $34.4M | — | ||
| Q3 24 | $41.3M | — | ||
| Q2 24 | $23.1M | — | ||
| Q1 24 | $23.5M | — |
总债务DLXSTEP
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
股东权益DLXSTEP
| Q4 25 | $680.7M | $-378.8M | ||
| Q3 25 | $664.1M | $-233.5M | ||
| Q2 25 | $638.7M | $153.9M | ||
| Q1 25 | $622.5M | $179.4M | ||
| Q4 24 | $620.9M | $209.8M | ||
| Q3 24 | $612.7M | $397.5M | ||
| Q2 24 | $620.5M | $366.9M | ||
| Q1 24 | $608.4M | $324.5M |
总资产DLXSTEP
| Q4 25 | $2.9B | $5.2B | ||
| Q3 25 | $2.6B | $5.3B | ||
| Q2 25 | $2.5B | $4.8B | ||
| Q1 25 | $2.6B | $4.6B | ||
| Q4 24 | $2.8B | $4.3B | ||
| Q3 24 | $2.6B | $4.0B | ||
| Q2 24 | $2.7B | $3.8B | ||
| Q1 24 | $2.7B | $3.8B |
负债/权益比DLXSTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.46× |
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 | $102.1M | $27.2M |
| 自由现金流经营现金流 - 资本支出 | — | $26.7M |
| 自由现金流率自由现金流/营收 | — | 4.6% |
| 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 | 8.53× | — |
| 过去12个月自由现金流最近4个季度 | — | $18.6M |
8季度趋势，按日历期对齐
经营现金流DLXSTEP
| Q4 25 | $102.1M | $27.2M | ||
| Q3 25 | $67.1M | $16.2M | ||
| Q2 25 | $51.1M | $46.3M | ||
| Q1 25 | $50.3M | $-66.5M | ||
| Q4 24 | $60.2M | $27.6M | ||
| Q3 24 | $67.9M | $53.7M | ||
| Q2 24 | $39.6M | $50.2M | ||
| Q1 24 | $26.6M | $7.6M |
自由现金流DLXSTEP
| Q4 25 | — | $26.7M | ||
| Q3 25 | — | $15.9M | ||
| Q2 25 | $27.8M | $45.2M | ||
| Q1 25 | $24.3M | $-69.2M | ||
| Q4 24 | — | $27.0M | ||
| Q3 24 | $46.7M | $52.4M | ||
| Q2 24 | $11.4M | $49.6M | ||
| Q1 24 | $6.1M | $6.7M |
自由现金流率DLXSTEP
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | 5.3% | 12.4% | ||
| Q1 25 | 4.5% | -18.3% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | 8.8% | 19.3% | ||
| Q2 24 | 2.1% | 26.6% | ||
| Q1 24 | 1.1% | 1.9% |
资本支出强度DLXSTEP
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | 4.5% | 0.3% | ||
| Q1 25 | 4.8% | 0.7% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | 4.0% | 0.5% | ||
| Q2 24 | 5.2% | 0.3% | ||
| Q1 24 | 3.8% | 0.3% |
现金转化率DLXSTEP
| Q4 25 | 8.53× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 3.59× | — | ||
| Q4 24 | 4.77× | — | ||
| Q3 24 | 7.60× | 3.05× | ||
| Q2 24 | 1.94× | 3.76× | ||
| Q1 24 | 2.46× | 0.25× |
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
DLX
| Services | $247.9M | 46% |
| B2B Payments | $76.3M | 14% |
| Datadrivenmarketingsolutions | $68.5M | 13% |
| Promotional Solutions Revenue | $60.9M | 11% |
| Treasurymanagementsolutions | $59.8M | 11% |
| Other | $17.3M | 3% |
| Other Web Based Solutions | $4.6M | 1% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
