vs
Digimarc CORP（DMRC）与Heritage Global Inc.（HGBL）财务数据对比。点击上方公司名可切换其他公司
Heritage Global Inc.的季度营收约是Digimarc CORP的1.3倍（$11.9M vs $8.9M），Heritage Global Inc.净利率更高（2.5% vs -47.2%，领先49.8%），Heritage Global Inc.同比增速更快（10.1% vs 2.9%），Heritage Global Inc.自由现金流更多（$971.0K vs $895.0K），过去两年Heritage Global Inc.的营收复合增速更高（-1.3% 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。
Global Media & Entertainment Limited，以Global作为品牌开展运营，是2007年成立的英国传媒企业。该公司目前拥有欧洲规模最大的商业广播公司，过往通过收购Chrysalis Radio、GCap Media、GMG Radio等多家企业完成扩张，运营Capital、Heart、Smooth、Radio X、Gold、Classic FM、LBC七大核心广播品牌，所有品牌均采用全国覆盖的网络运营策略。
DMRC vs HGBL — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.9M | $11.9M |
| 净利润 | $-4.2M | $301.0K |
| 毛利率 | 63.5% | — |
| 营业利润率 | -48.2% | 6.5% |
| 净利率 | -47.2% | 2.5% |
| 营收同比 | 2.9% | 10.1% |
| 净利润同比 | 51.4% | 248.3% |
| 每股收益（稀释后） | $-0.18 | $0.00 |
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
| Q4 25 | $8.9M | $11.9M | ||
| Q3 25 | $7.6M | $11.4M | ||
| Q2 25 | $8.0M | $14.3M | ||
| Q1 25 | $9.4M | $13.5M | ||
| Q4 24 | $8.7M | $10.8M | ||
| Q3 24 | $9.4M | $10.4M | ||
| Q2 24 | $10.4M | $12.0M | ||
| Q1 24 | $9.9M | $12.2M |
| Q4 25 | $-4.2M | $301.0K | ||
| Q3 25 | $-8.2M | $585.0K | ||
| Q2 25 | $-8.2M | $1.6M | ||
| Q1 25 | $-11.7M | $1.1M | ||
| Q4 24 | $-8.6M | $-203.0K | ||
| Q3 24 | $-10.8M | $1.1M | ||
| Q2 24 | $-9.3M | $2.5M | ||
| Q1 24 | $-10.3M | $1.8M |
| Q4 25 | 63.5% | — | ||
| Q3 25 | 58.3% | -5.6% | ||
| Q2 25 | 58.8% | — | ||
| Q1 25 | 65.0% | — | ||
| Q4 24 | 60.8% | — | ||
| Q3 24 | 62.4% | — | ||
| Q2 24 | 66.1% | — | ||
| Q1 24 | 62.5% | — |
| Q4 25 | -48.2% | 6.5% | ||
| Q3 25 | -109.7% | 11.5% | ||
| Q2 25 | -105.2% | 15.6% | ||
| Q1 25 | -128.9% | 10.4% | ||
| Q4 24 | -105.1% | 13.8% | ||
| Q3 24 | -120.4% | 14.2% | ||
| Q2 24 | -96.2% | 29.5% | ||
| Q1 24 | -109.2% | 21.0% |
| Q4 25 | -47.2% | 2.5% | ||
| Q3 25 | -106.9% | 5.1% | ||
| Q2 25 | -102.6% | 11.4% | ||
| Q1 25 | -125.2% | 7.9% | ||
| Q4 24 | -99.9% | -1.9% | ||
| Q3 24 | -113.9% | 10.5% | ||
| Q2 24 | -89.3% | 20.8% | ||
| Q1 24 | -104.0% | 14.8% |
| Q4 25 | $-0.18 | $0.00 | ||
| Q3 25 | $-0.38 | $0.02 | ||
| Q2 25 | $-0.38 | $0.05 | ||
| Q1 25 | $-0.55 | $0.03 | ||
| Q4 24 | $-0.40 | $-0.01 | ||
| Q3 24 | $-0.50 | $0.03 | ||
| Q2 24 | $-0.43 | $0.07 | ||
| Q1 24 | $-0.50 | $0.05 |
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 | $20.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $40.2M | $67.0M |
| 总资产 | $53.0M | $88.4M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $12.9M | $20.5M | ||
| Q3 25 | $12.6M | $19.4M | ||
| Q2 25 | $16.1M | $19.8M | ||
| Q1 25 | $21.6M | $18.8M | ||
| Q4 24 | $28.7M | $21.7M | ||
| Q3 24 | $33.7M | $26.6M | ||
| Q2 24 | $41.5M | $24.6M | ||
| Q1 24 | $48.9M | $15.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | $4.1M | ||
| Q2 25 | — | $4.2M | ||
| Q1 25 | — | $4.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $40.2M | $67.0M | ||
| Q3 25 | $41.4M | $66.5M | ||
| Q2 25 | $46.5M | $65.7M | ||
| Q1 25 | $50.0M | $65.4M | ||
| Q4 24 | $61.4M | $65.2M | ||
| Q3 24 | $70.2M | $66.1M | ||
| Q2 24 | $77.2M | $65.8M | ||
| Q1 24 | $84.5M | $63.0M |
| Q4 25 | $53.0M | $88.4M | ||
| Q3 25 | $55.4M | $86.5M | ||
| Q2 25 | $60.7M | $87.7M | ||
| Q1 25 | $66.5M | $86.7M | ||
| Q4 24 | $75.8M | $81.3M | ||
| Q3 24 | $85.0M | $88.5M | ||
| Q2 24 | $93.4M | $90.0M | ||
| Q1 24 | $99.7M | $83.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | — | ||
| 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 | $991.0K | $1.6M |
| 自由现金流经营现金流 - 资本支出 | $895.0K | $971.0K |
| 自由现金流率自由现金流/营收 | 10.0% | 8.2% |
| 资本支出强度资本支出/营收 | 1.1% | 5.1% |
| 现金转化率经营现金流/净利润 | — | 5.25× |
| 过去12个月自由现金流最近4个季度 | $-12.3M | $-2.3M |
8季度趋势，按日历期对齐
| Q4 25 | $991.0K | $1.6M | ||
| Q3 25 | $-2.6M | $61.0K | ||
| Q2 25 | $-4.7M | $1.9M | ||
| Q1 25 | $-5.5M | $2.6M | ||
| Q4 24 | $-4.2M | $-5.5M | ||
| Q3 24 | $-7.1M | $5.5M | ||
| Q2 24 | $-6.8M | $6.1M | ||
| Q1 24 | $-8.4M | $1.7M |
| Q4 25 | $895.0K | $971.0K | ||
| Q3 25 | $-2.8M | $-233.0K | ||
| Q2 25 | $-4.9M | $1.7M | ||
| Q1 25 | $-5.5M | $-4.8M | ||
| Q4 24 | $-4.2M | $-5.5M | ||
| Q3 24 | $-7.2M | $5.5M | ||
| Q2 24 | $-6.9M | $6.0M | ||
| Q1 24 | $-8.5M | $1.7M |
| Q4 25 | 10.0% | 8.2% | ||
| Q3 25 | -36.9% | -2.1% | ||
| Q2 25 | -61.0% | 12.0% | ||
| Q1 25 | -59.1% | -35.6% | ||
| Q4 24 | -49.1% | -51.2% | ||
| Q3 24 | -75.7% | 52.7% | ||
| Q2 24 | -66.1% | 49.7% | ||
| Q1 24 | -85.8% | 13.6% |
| Q4 25 | 1.1% | 5.1% | ||
| Q3 25 | 2.9% | 2.6% | ||
| Q2 25 | 2.5% | 1.1% | ||
| Q1 25 | 0.6% | 55.0% | ||
| Q4 24 | 0.2% | 0.0% | ||
| Q3 24 | 0.7% | 0.3% | ||
| Q2 24 | 0.3% | 0.6% | ||
| Q1 24 | 1.1% | 0.2% |
| Q4 25 | — | 5.25× | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 2.46× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.07× | ||
| Q2 24 | — | 2.42× | ||
| Q1 24 | — | 0.93× |
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% |
HGBL
| Services | $7.9M | 67% |
| Products | $4.0M | 33% |
