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Fathom Holdings Inc.（FTHM）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
Fathom Holdings Inc.的季度营收约是Repay Holdings Corp的1.2倍（$90.6M vs $78.6M），Fathom Holdings Inc.净利率更高（-7.4% vs -178.3%，领先170.9%），Repay Holdings Corp同比增速更快（0.4% vs -1.2%），Repay Holdings Corp自由现金流更多（$23.2M vs $-20.7M），过去两年Fathom Holdings Inc.的营收复合增速更高（13.4% vs -1.3%）
Fathom Holdings Inc.是一家总部位于美国的房地产科技与服务企业，为房产经纪人、经纪机构和消费者提供数字交易管理、按揭服务、产权保险、住宅经纪等一站式解决方案，业务覆盖美国大部分区域市场。
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。
FTHM vs RPAY — 直观对比
营收规模更大
FTHM
是对方的1.2倍
$78.6M
营收增速更快
RPAY
高出1.6%
-1.2%
净利率更高
FTHM
高出170.9%
-178.3%
自由现金流更多
RPAY
多$43.9M
$-20.7M
两年增速更快
FTHM
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $90.6M | $78.6M |
| 净利润 | $-6.7M | $-140.1M |
| 毛利率 | — | 74.2% |
| 营业利润率 | -5.2% | -182.2% |
| 净利率 | -7.4% | -178.3% |
| 营收同比 | -1.2% | 0.4% |
| 净利润同比 | -7.7% | -3304.1% |
| 每股收益（稀释后） | $-0.20 | $-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FTHMRPAY
| Q4 25 | $90.6M | $78.6M | ||
| Q3 25 | $115.3M | $77.7M | ||
| Q2 25 | $121.4M | $75.6M | ||
| Q1 25 | $93.1M | $77.3M | ||
| Q4 24 | $91.7M | $78.3M | ||
| Q3 24 | $83.7M | $79.1M | ||
| Q2 24 | $89.2M | $74.9M | ||
| Q1 24 | $70.5M | $80.7M |
净利润FTHMRPAY
| Q4 25 | $-6.7M | $-140.1M | ||
| Q3 25 | $-4.4M | $-6.4M | ||
| Q2 25 | $-3.6M | $-102.3M | ||
| Q1 25 | $-5.6M | $-7.9M | ||
| Q4 24 | $-6.2M | $-4.1M | ||
| Q3 24 | $-8.1M | $3.2M | ||
| Q2 24 | $-1.3M | $-4.1M | ||
| Q1 24 | $-5.9M | $-5.2M |
毛利率FTHMRPAY
| 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% | ||
| Q1 24 | — | 76.2% |
营业利润率FTHMRPAY
| Q4 25 | -5.2% | -182.2% | ||
| Q3 25 | -3.5% | -3.9% | ||
| Q2 25 | -2.0% | -138.7% | ||
| Q1 25 | -4.8% | -4.7% | ||
| Q4 24 | -7.0% | -1.5% | ||
| Q3 24 | -9.3% | -0.9% | ||
| Q2 24 | -4.1% | -4.6% | ||
| Q1 24 | -8.0% | -3.1% |
净利率FTHMRPAY
| Q4 25 | -7.4% | -178.3% | ||
| Q3 25 | -3.8% | -8.3% | ||
| Q2 25 | -3.0% | -135.2% | ||
| Q1 25 | -6.1% | -10.3% | ||
| Q4 24 | -6.8% | -5.3% | ||
| Q3 24 | -9.7% | 4.1% | ||
| Q2 24 | -1.5% | -5.4% | ||
| Q1 24 | -8.4% | -6.5% |
每股收益（稀释后）FTHMRPAY
| Q4 25 | $-0.20 | $-1.68 | ||
| Q3 25 | $-0.15 | $-0.08 | ||
| Q2 25 | $-0.13 | $-1.15 | ||
| Q1 25 | $-0.24 | $-0.09 | ||
| Q4 24 | $-0.29 | $-0.04 | ||
| Q3 24 | $-0.40 | $0.03 | ||
| Q2 24 | $-0.07 | $-0.04 | ||
| Q1 24 | $-0.31 | $-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 | $5.8M | $115.7M |
| 总债务越低越好 | $5.6M | $280.1M |
| 股东权益账面价值 | $37.4M | $484.4M |
| 总资产 | $78.0M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资FTHMRPAY
| Q4 25 | $5.8M | $115.7M | ||
| Q3 25 | $9.8M | $95.7M | ||
| Q2 25 | $4.9M | $162.6M | ||
| Q1 25 | $8.0M | $165.5M | ||
| Q4 24 | $7.1M | $189.5M | ||
| Q3 24 | $13.1M | $168.7M | ||
| Q2 24 | $10.4M | $147.1M | ||
| Q1 24 | $5.7M | $128.3M |
总债务FTHMRPAY
| Q4 25 | $5.6M | $280.1M | ||
| Q3 25 | $5.1M | $279.5M | ||
| Q2 25 | $5.1M | $279.0M | ||
| Q1 25 | $5.1M | $497.6M | ||
| Q4 24 | $9.5M | $496.8M | ||
| Q3 24 | $8.8M | $496.2M | ||
| Q2 24 | $3.6M | $435.6M | ||
| Q1 24 | $3.7M | $434.9M |
股东权益FTHMRPAY
| Q4 25 | $37.4M | $484.4M | ||
| Q3 25 | $43.4M | $616.9M | ||
| Q2 25 | $40.7M | $633.7M | ||
| Q1 25 | $43.4M | $755.7M | ||
| Q4 24 | $44.7M | $761.3M | ||
| Q3 24 | $47.1M | $754.7M | ||
| Q2 24 | $53.1M | $815.4M | ||
| Q1 24 | $51.9M | $813.8M |
总资产FTHMRPAY
| Q4 25 | $78.0M | $1.2B | ||
| Q3 25 | $83.2M | $1.3B | ||
| Q2 25 | $80.4M | $1.4B | ||
| Q1 25 | $81.0M | $1.5B | ||
| Q4 24 | $75.4M | $1.6B | ||
| Q3 24 | $80.9M | $1.6B | ||
| Q2 24 | $80.2M | $1.5B | ||
| Q1 24 | $78.2M | $1.5B |
负债/权益比FTHMRPAY
| Q4 25 | 0.15× | 0.58× | ||
| Q3 25 | 0.12× | 0.45× | ||
| Q2 25 | 0.12× | 0.44× | ||
| Q1 25 | 0.12× | 0.66× | ||
| Q4 24 | 0.21× | 0.65× | ||
| Q3 24 | 0.19× | 0.66× | ||
| Q2 24 | 0.07× | 0.53× | ||
| Q1 24 | 0.07× | 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 | $-20.5M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-20.7M | $23.2M |
| 自由现金流率自由现金流/营收 | -22.8% | 29.6% |
| 资本支出强度资本支出/营收 | 0.1% | 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 | $-29.4M | $90.7M |
8季度趋势，按日历期对齐
经营现金流FTHMRPAY
| Q4 25 | $-20.5M | $23.3M | ||
| Q3 25 | $3.0M | $32.2M | ||
| Q2 25 | $-5.9M | $33.1M | ||
| Q1 25 | $-5.7M | $2.5M | ||
| Q4 24 | $-4.7M | $34.3M | ||
| Q3 24 | $-330.0K | $60.1M | ||
| Q2 24 | $-3.1M | $31.0M | ||
| Q1 24 | $-947.0K | $24.8M |
自由现金流FTHMRPAY
| Q4 25 | $-20.7M | $23.2M | ||
| Q3 25 | $3.0M | $32.1M | ||
| Q2 25 | $-6.0M | $33.0M | ||
| Q1 25 | $-5.8M | $2.4M | ||
| Q4 24 | $-4.7M | $34.0M | ||
| Q3 24 | $-364.0K | $59.8M | ||
| Q2 24 | $-3.1M | $30.5M | ||
| Q1 24 | $-948.0K | $24.7M |
自由现金流率FTHMRPAY
| Q4 25 | -22.8% | 29.6% | ||
| Q3 25 | 2.6% | 41.3% | ||
| Q2 25 | -4.9% | 43.6% | ||
| Q1 25 | -6.2% | 3.0% | ||
| Q4 24 | -5.2% | 43.5% | ||
| Q3 24 | -0.4% | 75.6% | ||
| Q2 24 | -3.5% | 40.7% | ||
| Q1 24 | -1.3% | 30.6% |
资本支出强度FTHMRPAY
| Q4 25 | 0.1% | 0.1% | ||
| Q3 25 | 0.0% | 0.2% | ||
| Q2 25 | 0.0% | 0.1% | ||
| Q1 25 | 0.0% | 0.2% | ||
| Q4 24 | 0.1% | 0.3% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.0% | 0.6% | ||
| Q1 24 | 0.0% | 0.1% |
现金转化率FTHMRPAY
| 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
FTHM
| Real Estate Brokerage | $84.9M | 94% |
| Mortgage Segment | $3.4M | 4% |
| Other | $2.3M | 3% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
