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ESTABLISHMENT LABS HOLDINGS INC.（ESTA）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
Repay Holdings Corp的季度营收约是ESTABLISHMENT LABS HOLDINGS INC.的1.2倍（$78.6M vs $64.6M），ESTABLISHMENT LABS HOLDINGS INC.同比增速更快（45.2% vs 0.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $-2.0M），过去两年ESTABLISHMENT LABS HOLDINGS INC.的营收复合增速更高（31.9% vs -1.3%）
Establishment Labs Holdings Inc.是一家总部位于美国的无晶圆厂半导体企业，同时专注于人工智能领域业务，核心为数据中心及AI基础设施研发高速连接解决方案，于2024年3月在纳斯达克挂牌上市。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
ESTA vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.2倍
$64.6M
营收增速更快
ESTA
高出44.8%
0.4%
自由现金流更多
RPAY
多$25.2M
$-2.0M
两年增速更快
ESTA
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $64.6M | $78.6M |
| 净利润 | — | $-140.1M |
| 毛利率 | 70.5% | 74.2% |
| 营业利润率 | -6.1% | -182.2% |
| 净利率 | — | -178.3% |
| 营收同比 | 45.2% | 0.4% |
| 净利润同比 | — | -3304.1% |
| 每股收益（稀释后） | $-0.07 | $-1.68 |
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ESTARPAY
| Q4 25 | $64.6M | $78.6M | ||
| Q3 25 | $53.8M | $77.7M | ||
| Q2 25 | $51.3M | $75.6M | ||
| Q1 25 | $41.4M | $77.3M | ||
| Q4 24 | $44.5M | $78.3M | ||
| Q3 24 | $40.2M | $79.1M | ||
| Q2 24 | $44.1M | $74.9M | ||
| Q1 24 | $37.2M | $80.7M |
净利润ESTARPAY
| Q4 25 | — | $-140.1M | ||
| Q3 25 | $-11.1M | $-6.4M | ||
| Q2 25 | $-16.6M | $-102.3M | ||
| Q1 25 | $-20.7M | $-7.9M | ||
| Q4 24 | — | $-4.1M | ||
| Q3 24 | $-16.7M | $3.2M | ||
| Q2 24 | $-17.2M | $-4.1M | ||
| Q1 24 | $-16.2M | $-5.2M |
毛利率ESTARPAY
| Q4 25 | 70.5% | 74.2% | ||
| Q3 25 | 70.1% | 74.4% | ||
| Q2 25 | 68.8% | 75.7% | ||
| Q1 25 | 67.2% | 75.9% | ||
| Q4 24 | 68.5% | 76.3% | ||
| Q3 24 | 63.9% | 77.8% | ||
| Q2 24 | 65.6% | 78.2% | ||
| Q1 24 | 65.6% | 76.2% |
营业利润率ESTARPAY
| Q4 25 | -6.1% | -182.2% | ||
| Q3 25 | -7.5% | -3.9% | ||
| Q2 25 | -27.5% | -138.7% | ||
| Q1 25 | -41.0% | -4.7% | ||
| Q4 24 | -41.9% | -1.5% | ||
| Q3 24 | -32.7% | -0.9% | ||
| Q2 24 | -21.2% | -4.6% | ||
| Q1 24 | -23.8% | -3.1% |
净利率ESTARPAY
| Q4 25 | — | -178.3% | ||
| Q3 25 | -20.7% | -8.3% | ||
| Q2 25 | -32.3% | -135.2% | ||
| Q1 25 | -50.1% | -10.3% | ||
| Q4 24 | — | -5.3% | ||
| Q3 24 | -41.5% | 4.1% | ||
| Q2 24 | -38.9% | -5.4% | ||
| Q1 24 | -43.6% | -6.5% |
每股收益（稀释后）ESTARPAY
| Q4 25 | $-0.07 | $-1.68 | ||
| Q3 25 | $-0.38 | $-0.08 | ||
| Q2 25 | $-0.57 | $-1.15 | ||
| Q1 25 | $-0.70 | $-0.09 | ||
| Q4 24 | $-1.21 | $-0.04 | ||
| Q3 24 | $-0.59 | $0.03 | ||
| Q2 24 | $-0.62 | $-0.04 | ||
| Q1 24 | $-0.58 | $-0.06 |
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 | $75.6M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $23.5M | $484.4M |
| 总资产 | $357.2M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资ESTARPAY
| Q4 25 | $75.6M | $115.7M | ||
| Q3 25 | $70.6M | $95.7M | ||
| Q2 25 | $54.6M | $162.6M | ||
| Q1 25 | $69.2M | $165.5M | ||
| Q4 24 | $90.3M | $189.5M | ||
| Q3 24 | — | $168.7M | ||
| Q2 24 | — | $147.1M | ||
| Q1 24 | — | $128.3M |
总债务ESTARPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | $0 | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益ESTARPAY
| Q4 25 | $23.5M | $484.4M | ||
| Q3 25 | $16.4M | $616.9M | ||
| Q2 25 | $22.8M | $633.7M | ||
| Q1 25 | $38.5M | $755.7M | ||
| Q4 24 | $53.1M | $761.3M | ||
| Q3 24 | $32.7M | $754.7M | ||
| Q2 24 | $45.0M | $815.4M | ||
| Q1 24 | $56.9M | $813.8M |
总资产ESTARPAY
| Q4 25 | $357.2M | $1.2B | ||
| Q3 25 | $338.9M | $1.3B | ||
| Q2 25 | $329.7M | $1.4B | ||
| Q1 25 | $333.4M | $1.5B | ||
| Q4 24 | $346.8M | $1.6B | ||
| Q3 24 | $282.7M | $1.6B | ||
| Q2 24 | $285.1M | $1.5B | ||
| Q1 24 | $301.8M | $1.5B |
负债/权益比ESTARPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | 0.00× | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $-162.0K | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-2.0M | $23.2M |
| 自由现金流率自由现金流/营收 | -3.1% | 29.6% |
| 资本支出强度资本支出/营收 | 2.8% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-56.9M | $90.7M |
8季度趋势，按日历期对齐
经营现金流ESTARPAY
| Q4 25 | $-162.0K | $23.3M | ||
| Q3 25 | $-11.3M | $32.2M | ||
| Q2 25 | $-18.8M | $33.1M | ||
| Q1 25 | $-20.7M | $2.5M | ||
| Q4 24 | $-20.7M | $34.3M | ||
| Q3 24 | $-12.5M | $60.1M | ||
| Q2 24 | $-14.2M | $31.0M | ||
| Q1 24 | $-11.2M | $24.8M |
自由现金流ESTARPAY
| Q4 25 | $-2.0M | $23.2M | ||
| Q3 25 | $-13.1M | $32.1M | ||
| Q2 25 | $-20.4M | $33.0M | ||
| Q1 25 | $-21.5M | $2.4M | ||
| Q4 24 | $-21.3M | $34.0M | ||
| Q3 24 | $-13.9M | $59.8M | ||
| Q2 24 | $-15.0M | $30.5M | ||
| Q1 24 | $-14.5M | $24.7M |
自由现金流率ESTARPAY
| Q4 25 | -3.1% | 29.6% | ||
| Q3 25 | -24.4% | 41.3% | ||
| Q2 25 | -39.7% | 43.6% | ||
| Q1 25 | -51.9% | 3.0% | ||
| Q4 24 | -47.8% | 43.5% | ||
| Q3 24 | -34.6% | 75.6% | ||
| Q2 24 | -33.9% | 40.7% | ||
| Q1 24 | -38.9% | 30.6% |
资本支出强度ESTARPAY
| Q4 25 | 2.8% | 0.1% | ||
| Q3 25 | 3.4% | 0.2% | ||
| Q2 25 | 3.2% | 0.1% | ||
| Q1 25 | 1.8% | 0.2% | ||
| Q4 24 | 1.2% | 0.3% | ||
| Q3 24 | 3.7% | 0.3% | ||
| Q2 24 | 1.8% | 0.6% | ||
| Q1 24 | 8.9% | 0.1% |
现金转化率ESTARPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
ESTA
暂无分部数据
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
