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合众银行（FSBC）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的季度营收约是合众银行的1.7倍（$78.6M vs $45.1M），合众银行净利率更高（41.3% vs -178.3%，领先219.6%），过去两年合众银行的营收复合增速更高（21.3% vs -1.3%）
合众银行是总部设在美国明尼阿波利斯、在特拉华州注册的美国跨国银行机构，截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性的银行。它旗下核心运营实体为美国银行全国协会，以US Bank品牌开展业务，提供银行、投资、抵押等金融服务。
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。
FSBC vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.7倍
$45.1M
净利率更高
FSBC
高出219.6%
-178.3%
两年增速更快
FSBC
近两年复合增速
-1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $45.1M | $78.6M |
| 净利润 | $18.6M | $-140.1M |
| 毛利率 | — | 74.2% |
| 营业利润率 | — | -182.2% |
| 净利率 | 41.3% | -178.3% |
| 营收同比 | — | 0.4% |
| 净利润同比 | 42.0% | -3304.1% |
| 每股收益（稀释后） | $0.87 | $-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FSBCRPAY
| Q1 26 | $45.1M | — | ||
| Q4 25 | $43.5M | $78.6M | ||
| Q3 25 | $41.3M | $77.7M | ||
| Q2 25 | $38.3M | $75.6M | ||
| Q1 25 | $35.3M | $77.3M | ||
| Q4 24 | $35.2M | $78.3M | ||
| Q3 24 | $31.8M | $79.1M | ||
| Q2 24 | $30.7M | $74.9M |
净利润FSBCRPAY
| Q1 26 | $18.6M | — | ||
| Q4 25 | $17.6M | $-140.1M | ||
| Q3 25 | $16.3M | $-6.4M | ||
| Q2 25 | $14.5M | $-102.3M | ||
| Q1 25 | $13.1M | $-7.9M | ||
| Q4 24 | $13.3M | $-4.1M | ||
| Q3 24 | $10.9M | $3.2M | ||
| Q2 24 | $10.8M | $-4.1M |
毛利率FSBCRPAY
| Q1 26 | — | — | ||
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% |
营业利润率FSBCRPAY
| Q1 26 | — | — | ||
| Q4 25 | 52.9% | -182.2% | ||
| Q3 25 | 53.8% | -3.9% | ||
| Q2 25 | 52.4% | -138.7% | ||
| Q1 25 | 52.0% | -4.7% | ||
| Q4 24 | 55.1% | -1.5% | ||
| Q3 24 | 48.0% | -0.9% | ||
| Q2 24 | 49.4% | -4.6% |
净利率FSBCRPAY
| Q1 26 | 41.3% | — | ||
| Q4 25 | 40.6% | -178.3% | ||
| Q3 25 | 39.6% | -8.3% | ||
| Q2 25 | 37.9% | -135.2% | ||
| Q1 25 | 37.1% | -10.3% | ||
| Q4 24 | 37.9% | -5.3% | ||
| Q3 24 | 34.4% | 4.1% | ||
| Q2 24 | 35.2% | -5.4% |
每股收益（稀释后）FSBCRPAY
| Q1 26 | $0.87 | — | ||
| Q4 25 | $0.83 | $-1.68 | ||
| Q3 25 | $0.77 | $-0.08 | ||
| Q2 25 | $0.68 | $-1.15 | ||
| Q1 25 | $0.62 | $-0.09 | ||
| Q4 24 | $0.61 | $-0.04 | ||
| Q3 24 | $0.52 | $0.03 | ||
| Q2 24 | $0.51 | $-0.04 |
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 | $644.4M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $458.5M | $484.4M |
| 总资产 | $5.0B | $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FSBCRPAY
| Q1 26 | $644.4M | — | ||
| Q4 25 | — | $115.7M | ||
| Q3 25 | — | $95.7M | ||
| Q2 25 | — | $162.6M | ||
| Q1 25 | — | $165.5M | ||
| Q4 24 | — | $189.5M | ||
| Q3 24 | — | $168.7M | ||
| Q2 24 | — | $147.1M |
总债务FSBCRPAY
| Q1 26 | — | — | ||
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M |
股东权益FSBCRPAY
| Q1 26 | $458.5M | — | ||
| Q4 25 | $445.8M | $484.4M | ||
| Q3 25 | $431.3M | $616.9M | ||
| Q2 25 | $416.7M | $633.7M | ||
| Q1 25 | $406.5M | $755.7M | ||
| Q4 24 | $396.6M | $761.3M | ||
| Q3 24 | $389.9M | $754.7M | ||
| Q2 24 | $380.5M | $815.4M |
总资产FSBCRPAY
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.8B | $1.2B | ||
| Q3 25 | $4.6B | $1.3B | ||
| Q2 25 | $4.4B | $1.4B | ||
| Q1 25 | $4.2B | $1.5B | ||
| Q4 24 | $4.1B | $1.6B | ||
| Q3 24 | $3.9B | $1.6B | ||
| Q2 24 | $3.6B | $1.5B |
负债/权益比FSBCRPAY
| Q1 26 | — | — | ||
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 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 | — | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $23.2M |
| 自由现金流率自由现金流/营收 | — | 29.6% |
| 资本支出强度资本支出/营收 | — | 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 | — | $90.7M |
8季度趋势，按日历期对齐
经营现金流FSBCRPAY
| Q1 26 | — | — | ||
| Q4 25 | $72.6M | $23.3M | ||
| Q3 25 | $18.8M | $32.2M | ||
| Q2 25 | $17.8M | $33.1M | ||
| Q1 25 | $15.5M | $2.5M | ||
| Q4 24 | $51.8M | $34.3M | ||
| Q3 24 | $17.5M | $60.1M | ||
| Q2 24 | $16.0M | $31.0M |
自由现金流FSBCRPAY
| Q1 26 | — | — | ||
| Q4 25 | $71.4M | $23.2M | ||
| Q3 25 | $18.6M | $32.1M | ||
| Q2 25 | $17.5M | $33.0M | ||
| Q1 25 | $15.4M | $2.4M | ||
| Q4 24 | $51.2M | $34.0M | ||
| Q3 24 | $17.3M | $59.8M | ||
| Q2 24 | $15.8M | $30.5M |
自由现金流率FSBCRPAY
| Q1 26 | — | — | ||
| Q4 25 | 164.3% | 29.6% | ||
| Q3 25 | 45.0% | 41.3% | ||
| Q2 25 | 45.8% | 43.6% | ||
| Q1 25 | 43.5% | 3.0% | ||
| Q4 24 | 145.5% | 43.5% | ||
| Q3 24 | 54.5% | 75.6% | ||
| Q2 24 | 51.6% | 40.7% |
资本支出强度FSBCRPAY
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 0.1% | ||
| Q3 25 | 0.5% | 0.2% | ||
| Q2 25 | 0.6% | 0.1% | ||
| Q1 25 | 0.3% | 0.2% | ||
| Q4 24 | 1.8% | 0.3% | ||
| Q3 24 | 0.7% | 0.3% | ||
| Q2 24 | 0.7% | 0.6% |
现金转化率FSBCRPAY
| Q1 26 | — | — | ||
| Q4 25 | 4.12× | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 1.18× | — | ||
| Q4 24 | 3.89× | — | ||
| Q3 24 | 1.60× | 18.52× | ||
| Q2 24 | 1.49× | — |
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
FSBC
| Net Interest Income | $43.5M | 96% |
| Noninterest Income | $1.6M | 4% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
