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eHealth, Inc.（EHTH）与UiPath, Inc.（PATH）财务数据对比。点击上方公司名可切换其他公司
UiPath, Inc.的季度营收约是eHealth, Inc.的1.3倍（$411.1M vs $326.2M），UiPath, Inc.净利率更高（48.4% vs 26.7%，领先21.6%），UiPath, Inc.同比增速更快（15.9% vs 3.5%），UiPath, Inc.自由现金流更多（$25.1M vs $-36.1M），过去两年eHealth, Inc.的营收复合增速更高（87.3% vs 0.7%）
eHealth, Inc.以eHealthInsurance品牌开展业务，是一家公开上市的健康保险在线交易平台，公司注册于特拉华州，总部位于加利福尼亚州圣克拉拉。该平台主要提供医疗保险相关计划，涵盖联邦医疗保险处方药计划、联邦医疗保险补充计划、优势计划等产品，同时也售卖个人健康保险产品，业务覆盖美国全部50个州及华盛顿特区。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
EHTH vs PATH — 直观对比
营收规模更大
PATH
是对方的1.3倍
$326.2M
营收增速更快
PATH
高出12.4%
3.5%
净利率更高
PATH
高出21.6%
26.7%
自由现金流更多
PATH
多$61.2M
$-36.1M
两年增速更快
EHTH
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $326.2M | $411.1M |
| 净利润 | $87.2M | $198.8M |
| 毛利率 | 55.3% | 83.3% |
| 营业利润率 | 38.7% | 3.2% |
| 净利率 | 26.7% | 48.4% |
| 营收同比 | 3.5% | 15.9% |
| 净利润同比 | -10.6% | 1966.2% |
| 每股收益（稀释后） | $2.43 | $0.37 |
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EHTHPATH
| Q4 25 | $326.2M | $411.1M | ||
| Q3 25 | $53.9M | $361.7M | ||
| Q2 25 | $60.8M | $356.6M | ||
| Q1 25 | $113.1M | $423.6M | ||
| Q4 24 | $315.2M | $354.7M | ||
| Q3 24 | $58.4M | $316.3M | ||
| Q2 24 | $65.9M | $335.1M | ||
| Q1 24 | $93.0M | $405.3M |
净利润EHTHPATH
| Q4 25 | $87.2M | $198.8M | ||
| Q3 25 | $-31.7M | $1.6M | ||
| Q2 25 | $-17.4M | $-22.6M | ||
| Q1 25 | $1.9M | $51.8M | ||
| Q4 24 | $97.5M | $-10.7M | ||
| Q3 24 | $-42.5M | $-86.1M | ||
| Q2 24 | $-28.0M | $-28.7M | ||
| Q1 24 | $-17.0M | $33.9M |
毛利率EHTHPATH
| Q4 25 | 55.3% | 83.3% | ||
| Q3 25 | -0.3% | 82.2% | ||
| Q2 25 | 31.1% | 82.1% | ||
| Q1 25 | 36.9% | 84.8% | ||
| Q4 24 | 52.0% | 82.0% | ||
| Q3 24 | -6.5% | 80.0% | ||
| Q2 24 | 28.7% | 83.5% | ||
| Q1 24 | 31.7% | 86.8% |
营业利润率EHTHPATH
| Q4 25 | 38.7% | 3.2% | ||
| Q3 25 | -77.1% | -5.6% | ||
| Q2 25 | -37.9% | -4.6% | ||
| Q1 25 | 4.2% | 7.9% | ||
| Q4 24 | 35.7% | -12.2% | ||
| Q3 24 | -74.0% | -32.7% | ||
| Q2 24 | -42.5% | -14.8% | ||
| Q1 24 | -19.3% | 3.7% |
净利率EHTHPATH
| Q4 25 | 26.7% | 48.4% | ||
| Q3 25 | -58.8% | 0.4% | ||
| Q2 25 | -28.6% | -6.3% | ||
| Q1 25 | 1.7% | 12.2% | ||
| Q4 24 | 30.9% | -3.0% | ||
| Q3 24 | -72.7% | -27.2% | ||
| Q2 24 | -42.5% | -8.6% | ||
| Q1 24 | -18.3% | 8.4% |
每股收益（稀释后）EHTHPATH
| Q4 25 | $2.43 | $0.37 | ||
| Q3 25 | $-1.46 | $0.00 | ||
| Q2 25 | $-0.98 | $-0.04 | ||
| Q1 25 | $-0.33 | $0.09 | ||
| Q4 24 | $2.93 | $-0.02 | ||
| Q3 24 | $-1.83 | $-0.15 | ||
| Q2 24 | $-1.33 | $-0.05 | ||
| Q1 24 | $-0.96 | $0.07 |
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 | $73.7M | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $591.6M | $1.9B |
| 总资产 | $1.3B | $2.9B |
| 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EHTHPATH
| Q4 25 | $73.7M | $1.4B | ||
| Q3 25 | $63.1M | $1.4B | ||
| Q2 25 | $65.9M | $1.6B | ||
| Q1 25 | $121.1M | $1.6B | ||
| Q4 24 | $39.2M | $1.6B | ||
| Q3 24 | $64.0M | $1.7B | ||
| Q2 24 | $126.3M | $1.9B | ||
| Q1 24 | $175.0M | $1.9B |
股东权益EHTHPATH
| Q4 25 | $591.6M | $1.9B | ||
| Q3 25 | $514.2M | $1.7B | ||
| Q2 25 | $554.9M | $1.7B | ||
| Q1 25 | $581.6M | $1.8B | ||
| Q4 24 | $588.4M | $1.7B | ||
| Q3 24 | $499.3M | $1.8B | ||
| Q2 24 | $548.9M | $2.0B | ||
| Q1 24 | $582.8M | $2.0B |
总资产EHTHPATH
| Q4 25 | $1.3B | $2.9B | ||
| Q3 25 | $1.0B | $2.6B | ||
| Q2 25 | $1.1B | $2.6B | ||
| Q1 25 | $1.1B | $2.9B | ||
| Q4 24 | $1.2B | $2.7B | ||
| Q3 24 | $1.0B | $2.7B | ||
| Q2 24 | $1.0B | $2.8B | ||
| Q1 24 | $1.1B | $3.0B |
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 | $-35.9M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $-36.1M | $25.1M |
| 自由现金流率自由现金流/营收 | -11.1% | 6.1% |
| 资本支出强度资本支出/营收 | 0.0% | 0.8% |
| 现金转化率经营现金流/净利润 | -0.41× | 0.14× |
| 过去12个月自由现金流最近4个季度 | $-27.6M | — |
8季度趋势，按日历期对齐
经营现金流EHTHPATH
| Q4 25 | $-35.9M | $28.3M | ||
| Q3 25 | $-25.3M | $41.6M | ||
| Q2 25 | $-41.2M | $119.0M | ||
| Q1 25 | $77.1M | $146.1M | ||
| Q4 24 | $-27.7M | $28.1M | ||
| Q3 24 | $-29.3M | $46.4M | ||
| Q2 24 | $-32.2M | $100.0M | ||
| Q1 24 | $70.8M | $145.6M |
自由现金流EHTHPATH
| Q4 25 | $-36.1M | $25.1M | ||
| Q3 25 | $-25.5M | — | ||
| Q2 25 | $-42.8M | $106.2M | ||
| Q1 25 | $76.8M | $138.7M | ||
| Q4 24 | $-28.3M | $23.2M | ||
| Q3 24 | $-30.3M | $45.0M | ||
| Q2 24 | $-32.4M | $98.8M | ||
| Q1 24 | $70.6M | $141.8M |
自由现金流率EHTHPATH
| Q4 25 | -11.1% | 6.1% | ||
| Q3 25 | -47.4% | — | ||
| Q2 25 | -70.4% | 29.8% | ||
| Q1 25 | 67.9% | 32.7% | ||
| Q4 24 | -9.0% | 6.5% | ||
| Q3 24 | -51.8% | 14.2% | ||
| Q2 24 | -49.3% | 29.5% | ||
| Q1 24 | 75.9% | 35.0% |
资本支出强度EHTHPATH
| Q4 25 | 0.0% | 0.8% | ||
| Q3 25 | 0.4% | 0.0% | ||
| Q2 25 | 2.6% | 3.6% | ||
| Q1 25 | 0.3% | 1.7% | ||
| Q4 24 | 0.2% | 1.4% | ||
| Q3 24 | 1.7% | 0.4% | ||
| Q2 24 | 0.4% | 0.4% | ||
| Q1 24 | 0.2% | 0.9% |
现金转化率EHTHPATH
| Q4 25 | -0.41× | 0.14× | ||
| Q3 25 | — | 26.25× | ||
| Q2 25 | — | — | ||
| Q1 25 | 39.55× | 2.82× | ||
| Q4 24 | -0.28× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 4.29× |
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
EHTH
| Medicare | $282.7M | 87% |
| Other | $29.2M | 9% |
| Ancillaries | $7.9M | 2% |
| Commission Members Approved In Prior Periods | $3.8M | 1% |
| Small Business | $3.1M | 1% |
| Commission Revenue From Renewals | $2.4M | 1% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
