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FirstCash Holdings, Inc.（FCFS）与PIPER SANDLER COMPANIES（PIPR）财务数据对比。点击上方公司名可切换其他公司
PIPER SANDLER COMPANIES的季度营收约是FirstCash Holdings, Inc.的1.3倍（$667.0M vs $501.3M），FirstCash Holdings, Inc.净利率更高（20.8% vs 17.1%，领先3.7%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs 21.2%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs 16.9%）
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
FCFS vs PIPR — 直观对比
营收规模更大
PIPR
是对方的1.3倍
$501.3M
营收增速更快
PIPR
高出16.2%
21.2%
净利率更高
FCFS
高出3.7%
17.1%
两年增速更快
PIPR
近两年复合增速
16.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $501.3M | $667.0M |
| 净利润 | $104.2M | $114.0M |
| 毛利率 | — | — |
| 营业利润率 | 28.5% | 28.3% |
| 净利率 | 20.8% | 17.1% |
| 营收同比 | 21.2% | 37.4% |
| 净利润同比 | 24.7% | 65.0% |
| 每股收益（稀释后） | $2.35 | $6.41 |
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FCFSPIPR
| Q4 25 | $501.3M | $667.0M | ||
| Q3 25 | $411.0M | $480.1M | ||
| Q2 25 | $385.1M | $398.6M | ||
| Q1 25 | $371.1M | $358.6M | ||
| Q4 24 | $413.7M | $485.4M | ||
| Q3 24 | $363.1M | $360.9M | ||
| Q2 24 | $363.5M | $340.8M | ||
| Q1 24 | $366.8M | $344.4M |
净利润FCFSPIPR
| Q4 25 | $104.2M | $114.0M | ||
| Q3 25 | $82.8M | $60.3M | ||
| Q2 25 | $59.8M | $42.2M | ||
| Q1 25 | $83.6M | $64.9M | ||
| Q4 24 | $83.5M | $69.1M | ||
| Q3 24 | $64.8M | $34.8M | ||
| Q2 24 | $49.1M | $34.8M | ||
| Q1 24 | $61.4M | $42.5M |
营业利润率FCFSPIPR
| Q4 25 | 28.5% | 28.3% | ||
| Q3 25 | 27.4% | 22.4% | ||
| Q2 25 | 21.1% | 12.3% | ||
| Q1 25 | 30.0% | 8.2% | ||
| Q4 24 | 26.5% | 16.9% | ||
| Q3 24 | 23.5% | 15.4% | ||
| Q2 24 | 18.2% | 8.3% | ||
| Q1 24 | 22.3% | 15.2% |
净利率FCFSPIPR
| Q4 25 | 20.8% | 17.1% | ||
| Q3 25 | 20.1% | 12.6% | ||
| Q2 25 | 15.5% | 10.6% | ||
| Q1 25 | 22.5% | 18.1% | ||
| Q4 24 | 20.2% | 14.2% | ||
| Q3 24 | 17.9% | 9.6% | ||
| Q2 24 | 13.5% | 10.2% | ||
| Q1 24 | 16.7% | 12.3% |
每股收益（稀释后）FCFSPIPR
| Q4 25 | $2.35 | $6.41 | ||
| Q3 25 | $1.86 | $3.38 | ||
| Q2 25 | $1.34 | $2.38 | ||
| Q1 25 | $1.87 | $3.65 | ||
| Q4 24 | $1.86 | $3.88 | ||
| Q3 24 | $1.44 | $1.96 | ||
| Q2 24 | $1.08 | $1.97 | ||
| Q1 24 | $1.35 | $2.43 |
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 | $125.2M | — |
| 总债务越低越好 | $2.2B | — |
| 股东权益账面价值 | $2.3B | $1.4B |
| 总资产 | $5.3B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资FCFSPIPR
| Q4 25 | $125.2M | — | ||
| Q3 25 | $130.2M | — | ||
| Q2 25 | $101.5M | — | ||
| Q1 25 | $146.0M | — | ||
| Q4 24 | $175.1M | — | ||
| Q3 24 | $106.3M | — | ||
| Q2 24 | $113.7M | — | ||
| Q1 24 | $135.1M | — |
总债务FCFSPIPR
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.5B | — |
股东权益FCFSPIPR
| Q4 25 | $2.3B | $1.4B | ||
| Q3 25 | $2.2B | $1.3B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $2.1B | $1.2B | ||
| Q3 24 | $2.0B | $1.2B | ||
| Q2 24 | $2.0B | $1.1B | ||
| Q1 24 | $2.0B | $1.1B |
总资产FCFSPIPR
| Q4 25 | $5.3B | $2.6B | ||
| Q3 25 | $5.2B | $2.2B | ||
| Q2 25 | $4.5B | $2.0B | ||
| Q1 25 | $4.4B | $1.8B | ||
| Q4 24 | $4.5B | $2.3B | ||
| Q3 24 | $4.4B | $2.0B | ||
| Q2 24 | $4.3B | $1.9B | ||
| Q1 24 | $4.2B | $1.8B |
负债/权益比FCFSPIPR
| Q4 25 | 0.98× | — | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 0.79× | — | ||
| Q1 25 | 0.83× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 0.75× | — |
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 | $206.6M | $729.8M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.98× | 6.40× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FCFSPIPR
| Q4 25 | $206.6M | $729.8M | ||
| Q3 25 | $135.8M | $31.9M | ||
| Q2 25 | $116.9M | $32.1M | ||
| Q1 25 | $126.6M | $-207.2M | ||
| Q4 24 | $198.1M | $163.8M | ||
| Q3 24 | $113.1M | $80.1M | ||
| Q2 24 | $106.2M | $266.5M | ||
| Q1 24 | $122.5M | $-197.2M |
现金转化率FCFSPIPR
| Q4 25 | 1.98× | 6.40× | ||
| Q3 25 | 1.64× | 0.53× | ||
| Q2 25 | 1.95× | 0.76× | ||
| Q1 25 | 1.51× | -3.19× | ||
| Q4 24 | 2.37× | 2.37× | ||
| Q3 24 | 1.74× | 2.30× | ||
| Q2 24 | 2.16× | 7.66× | ||
| Q1 24 | 2.00× | -4.64× |
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
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
