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Digimarc CORP（DMRC）与FREQUENCY ELECTRONICS INC（FEIM）财务数据对比。点击上方公司名可切换其他公司
FREQUENCY ELECTRONICS INC的季度营收约是Digimarc CORP的1.9倍（$17.1M vs $8.9M），FREQUENCY ELECTRONICS INC净利率更高（10.5% vs -47.2%，领先57.7%），FREQUENCY ELECTRONICS INC同比增速更快（8.3% vs 2.9%），Digimarc CORP自由现金流更多（$895.0K vs $-1.1M），过去两年FREQUENCY ELECTRONICS INC的营收复合增速更高（11.8% vs -5.3%）
迪吉马克公司是一家企业软件与服务提供商，其主打产品包含带数字标识符的软件，主要用于解决防伪问题、验证产品真伪、提升回收准确性以及实现供应链可追溯，产品可广泛应用于服装、快消品、美妆健康、汽车等多个行业领域。
超电子控股是一家英国国防与安全企业，曾在伦敦证券交易所上市，是富时250指数成分股之一，后被隶属于安宏资本的科巴姆公司收购。
DMRC vs FEIM — 直观对比
营收规模更大
FEIM
是对方的1.9倍
$8.9M
营收增速更快
FEIM
高出5.4%
2.9%
净利率更高
FEIM
高出57.7%
-47.2%
自由现金流更多
DMRC
多$2.0M
$-1.1M
两年增速更快
FEIM
近两年复合增速
-5.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.9M | $17.1M |
| 净利润 | $-4.2M | $1.8M |
| 毛利率 | 63.5% | 38.2% |
| 营业利润率 | -48.2% | 10.0% |
| 净利率 | -47.2% | 10.5% |
| 营收同比 | 2.9% | 8.3% |
| 净利润同比 | 51.4% | -32.1% |
| 每股收益（稀释后） | $-0.18 | $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DMRCFEIM
| Q4 25 | $8.9M | $17.1M | ||
| Q3 25 | $7.6M | $13.8M | ||
| Q2 25 | $8.0M | $20.0M | ||
| Q1 25 | $9.4M | $18.9M | ||
| Q4 24 | $8.7M | $15.8M | ||
| Q3 24 | $9.4M | $15.1M | ||
| Q2 24 | $10.4M | $15.6M | ||
| Q1 24 | $9.9M | $13.7M |
净利润DMRCFEIM
| Q4 25 | $-4.2M | $1.8M | ||
| Q3 25 | $-8.2M | $634.0K | ||
| Q2 25 | $-8.2M | $3.2M | ||
| Q1 25 | $-11.7M | $15.4M | ||
| Q4 24 | $-8.6M | $2.7M | ||
| Q3 24 | $-10.8M | $2.4M | ||
| Q2 24 | $-9.3M | $2.6M | ||
| Q1 24 | $-10.3M | $130.0K |
毛利率DMRCFEIM
| Q4 25 | 63.5% | 38.2% | ||
| Q3 25 | 58.3% | 36.8% | ||
| Q2 25 | 58.8% | 37.5% | ||
| Q1 25 | 65.0% | 43.8% | ||
| Q4 24 | 60.8% | 48.2% | ||
| Q3 24 | 62.4% | 44.4% | ||
| Q2 24 | 66.1% | 40.3% | ||
| Q1 24 | 62.5% | 22.6% |
营业利润率DMRCFEIM
| Q4 25 | -48.2% | 10.0% | ||
| Q3 25 | -109.7% | 2.6% | ||
| Q2 25 | -105.2% | 16.4% | ||
| Q1 25 | -128.9% | 18.3% | ||
| Q4 24 | -105.1% | 16.5% | ||
| Q3 24 | -120.4% | 15.7% | ||
| Q2 24 | -96.2% | 16.0% | ||
| Q1 24 | -109.2% | -3.4% |
净利率DMRCFEIM
| Q4 25 | -47.2% | 10.5% | ||
| Q3 25 | -106.9% | 4.6% | ||
| Q2 25 | -102.6% | 16.0% | ||
| Q1 25 | -125.2% | 81.4% | ||
| Q4 24 | -99.9% | 16.8% | ||
| Q3 24 | -113.9% | 16.1% | ||
| Q2 24 | -89.3% | 16.9% | ||
| Q1 24 | -104.0% | 0.9% |
每股收益（稀释后）DMRCFEIM
| Q4 25 | $-0.18 | $0.18 | ||
| Q3 25 | $-0.38 | $0.07 | ||
| Q2 25 | $-0.38 | $0.33 | ||
| Q1 25 | $-0.55 | $1.60 | ||
| Q4 24 | $-0.40 | $0.28 | ||
| Q3 24 | $-0.50 | $0.25 | ||
| Q2 24 | $-0.43 | $0.28 | ||
| Q1 24 | $-0.50 | $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 | $12.9M | $3.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $40.2M | $58.5M |
| 总资产 | $53.0M | $92.3M |
| 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DMRCFEIM
| Q4 25 | $12.9M | $3.0M | ||
| Q3 25 | $12.6M | $4.5M | ||
| Q2 25 | $16.1M | $4.7M | ||
| Q1 25 | $21.6M | $5.5M | ||
| Q4 24 | $28.7M | $9.7M | ||
| Q3 24 | $33.7M | $16.2M | ||
| Q2 24 | $41.5M | $18.3M | ||
| Q1 24 | $48.9M | $11.7M |
股东权益DMRCFEIM
| Q4 25 | $40.2M | $58.5M | ||
| Q3 25 | $41.4M | $56.3M | ||
| Q2 25 | $46.5M | $55.6M | ||
| Q1 25 | $50.0M | $51.8M | ||
| Q4 24 | $61.4M | $36.2M | ||
| Q3 24 | $70.2M | $33.2M | ||
| Q2 24 | $77.2M | $39.8M | ||
| Q1 24 | $84.5M | $36.7M |
总资产DMRCFEIM
| Q4 25 | $53.0M | $92.3M | ||
| Q3 25 | $55.4M | $93.2M | ||
| Q2 25 | $60.7M | $93.7M | ||
| Q1 25 | $66.5M | $86.4M | ||
| Q4 24 | $75.8M | $77.8M | ||
| Q3 24 | $85.0M | $84.3M | ||
| Q2 24 | $93.4M | $83.3M | ||
| Q1 24 | $99.7M | $77.7M |
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 | $991.0K | $-523.0K |
| 自由现金流经营现金流 - 资本支出 | $895.0K | $-1.1M |
| 自由现金流率自由现金流/营收 | 10.0% | -6.6% |
| 资本支出强度资本支出/营收 | 1.1% | 3.6% |
| 现金转化率经营现金流/净利润 | — | -0.29× |
| 过去12个月自由现金流最近4个季度 | $-12.3M | $-5.5M |
8季度趋势，按日历期对齐
经营现金流DMRCFEIM
| Q4 25 | $991.0K | $-523.0K | ||
| Q3 25 | $-2.6M | $1.2M | ||
| Q2 25 | $-4.7M | $-155.0K | ||
| Q1 25 | $-5.5M | $-3.6M | ||
| Q4 24 | $-4.2M | $3.8M | ||
| Q3 24 | $-7.1M | $-1.5M | ||
| Q2 24 | $-6.8M | $7.5M | ||
| Q1 24 | $-8.4M | $4.2M |
自由现金流DMRCFEIM
| Q4 25 | $895.0K | $-1.1M | ||
| Q3 25 | $-2.8M | $385.0K | ||
| Q2 25 | $-4.9M | $-786.0K | ||
| Q1 25 | $-5.5M | $-4.0M | ||
| Q4 24 | $-4.2M | $3.3M | ||
| Q3 24 | $-7.2M | $-1.8M | ||
| Q2 24 | $-6.9M | $6.7M | ||
| Q1 24 | $-8.5M | $3.9M |
自由现金流率DMRCFEIM
| Q4 25 | 10.0% | -6.6% | ||
| Q3 25 | -36.9% | 2.8% | ||
| Q2 25 | -61.0% | -3.9% | ||
| Q1 25 | -59.1% | -20.9% | ||
| Q4 24 | -49.1% | 20.8% | ||
| Q3 24 | -75.7% | -11.8% | ||
| Q2 24 | -66.1% | 42.8% | ||
| Q1 24 | -85.8% | 28.4% |
资本支出强度DMRCFEIM
| Q4 25 | 1.1% | 3.6% | ||
| Q3 25 | 2.9% | 5.6% | ||
| Q2 25 | 2.5% | 3.2% | ||
| Q1 25 | 0.6% | 1.7% | ||
| Q4 24 | 0.2% | 3.3% | ||
| Q3 24 | 0.7% | 2.2% | ||
| Q2 24 | 0.3% | 5.3% | ||
| Q1 24 | 1.1% | 2.3% |
现金转化率DMRCFEIM
| Q4 25 | — | -0.29× | ||
| Q3 25 | — | 1.83× | ||
| Q2 25 | — | -0.05× | ||
| Q1 25 | — | -0.24× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | -0.60× | ||
| Q2 24 | — | 2.85× | ||
| Q1 24 | — | 32.36× |
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
DMRC
| Subscription | $5.3M | 60% |
| The Government | $3.6M | 41% |
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
