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GREENLIGHT CAPITAL RE, LTD.（GLRE）与PROGRESS SOFTWARE CORP（PRGS）财务数据对比。点击上方公司名可切换其他公司
PROGRESS SOFTWARE CORP的季度营收约是GREENLIGHT CAPITAL RE, LTD.的1.2倍（$252.7M vs $210.3M），GREENLIGHT CAPITAL RE, LTD.净利率更高（23.4% vs 10.2%，领先13.2%），GREENLIGHT CAPITAL RE, LTD.同比增速更快（48.3% vs 17.5%），过去两年PROGRESS SOFTWARE CORP的营收复合增速更高（17.0% vs 4.8%）
绿光资本再保险有限公司关联的绿光资本是1996年由大卫·艾因霍恩创立的美国对冲基金，主要投资北美公开交易的企业债务产品与股票，因2008年雷曼兄弟破产前做空其股票、2012年1月在英国因内幕交易被罚1100万美元而受到市场关注，艾因霍恩至今仍担任该基金管理人。
Progress Software是全球领先的企业级软件服务商，主营应用开发平台、数据连接工具、数字体验解决方案等产品，服务覆盖金融、医疗、制造、零售等多行业的全球企业客户，助力客户搭建高性能可扩展的业务应用，提升运营效率。
GLRE vs PRGS — 直观对比
营收规模更大
PRGS
是对方的1.2倍
$210.3M
营收增速更快
GLRE
高出30.7%
17.5%
净利率更高
GLRE
高出13.2%
10.2%
两年增速更快
PRGS
近两年复合增速
4.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $210.3M | $252.7M |
| 净利润 | $49.3M | $25.7M |
| 毛利率 | — | 81.6% |
| 营业利润率 | — | 15.2% |
| 净利率 | 23.4% | 10.2% |
| 营收同比 | 48.3% | 17.5% |
| 净利润同比 | 279.7% | 2144.6% |
| 每股收益（稀释后） | $1.43 | $0.59 |
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GLREPRGS
| Q4 25 | $210.3M | $252.7M | ||
| Q3 25 | $146.1M | $249.8M | ||
| Q2 25 | $160.1M | $237.4M | ||
| Q1 25 | $213.3M | $238.0M | ||
| Q4 24 | $141.8M | $215.0M | ||
| Q3 24 | $188.0M | $178.7M | ||
| Q2 24 | $174.9M | $175.1M | ||
| Q1 24 | $191.3M | $184.7M |
净利润GLREPRGS
| Q4 25 | $49.3M | $25.7M | ||
| Q3 25 | $-4.4M | $19.4M | ||
| Q2 25 | $329.0K | $17.0M | ||
| Q1 25 | $29.6M | $10.9M | ||
| Q4 24 | $-27.4M | $1.1M | ||
| Q3 24 | $35.2M | $28.5M | ||
| Q2 24 | $8.0M | $16.2M | ||
| Q1 24 | $27.0M | $22.6M |
毛利率GLREPRGS
| Q4 25 | — | 81.6% | ||
| Q3 25 | — | 81.0% | ||
| Q2 25 | — | 80.1% | ||
| Q1 25 | — | 80.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 83.7% | ||
| Q2 24 | — | 81.7% | ||
| Q1 24 | — | 82.2% |
营业利润率GLREPRGS
| Q4 25 | — | 15.2% | ||
| Q3 25 | — | 17.6% | ||
| Q2 25 | — | 16.3% | ||
| Q1 25 | — | 13.6% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 22.6% | ||
| Q2 24 | — | 15.5% | ||
| Q1 24 | — | 19.0% |
净利率GLREPRGS
| Q4 25 | 23.4% | 10.2% | ||
| Q3 25 | -3.0% | 7.8% | ||
| Q2 25 | 0.2% | 7.2% | ||
| Q1 25 | 13.9% | 4.6% | ||
| Q4 24 | -19.3% | 0.5% | ||
| Q3 24 | 18.7% | 15.9% | ||
| Q2 24 | 4.6% | 9.2% | ||
| Q1 24 | 14.1% | 12.3% |
每股收益（稀释后）GLREPRGS
| Q4 25 | $1.43 | $0.59 | ||
| Q3 25 | $-0.13 | $0.44 | ||
| Q2 25 | $0.01 | $0.39 | ||
| Q1 25 | $0.86 | $0.24 | ||
| Q4 24 | $-0.78 | $0.01 | ||
| Q3 24 | $1.01 | $0.65 | ||
| Q2 24 | $0.23 | $0.37 | ||
| Q1 24 | $0.78 | $0.51 |
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 | $111.8M | $94.8M |
| 总债务越低越好 | $4.7M | $1.4B |
| 股东权益账面价值 | $708.0M | $478.3M |
| 总资产 | $2.2B | $2.5B |
| 负债/权益比越低杠杆越低 | 0.01× | 2.93× |
8季度趋势，按日历期对齐
现金及短期投资GLREPRGS
| Q4 25 | $111.8M | $94.8M | ||
| Q3 25 | $68.8M | $99.0M | ||
| Q2 25 | $82.4M | $102.0M | ||
| Q1 25 | $47.5M | $124.2M | ||
| Q4 24 | $64.7M | $118.1M | ||
| Q3 24 | $54.6M | $232.7M | ||
| Q2 24 | $52.2M | $190.4M | ||
| Q1 24 | $61.6M | $133.2M |
总债务GLREPRGS
| Q4 25 | $4.7M | $1.4B | ||
| Q3 25 | $34.7M | $1.4B | ||
| Q2 25 | $58.9M | $1.5B | ||
| Q1 25 | $59.8M | $1.5B | ||
| Q4 24 | $60.7M | $1.5B | ||
| Q3 24 | $62.6M | — | ||
| Q2 24 | $61.6M | — | ||
| Q1 24 | $72.5M | — |
股东权益GLREPRGS
| Q4 25 | $708.0M | $478.3M | ||
| Q3 25 | $658.9M | $477.7M | ||
| Q2 25 | $663.3M | $452.7M | ||
| Q1 25 | $666.8M | $431.8M | ||
| Q4 24 | $635.9M | $438.8M | ||
| Q3 24 | $663.4M | $425.6M | ||
| Q2 24 | $634.0M | $401.7M | ||
| Q1 24 | $624.5M | $461.7M |
总资产GLREPRGS
| Q4 25 | $2.2B | $2.5B | ||
| Q3 25 | $2.1B | $2.4B | ||
| Q2 25 | $2.2B | $2.4B | ||
| Q1 25 | $2.2B | $2.5B | ||
| Q4 24 | $2.0B | $2.5B | ||
| Q3 24 | $2.0B | $1.6B | ||
| Q2 24 | $1.9B | $1.6B | ||
| Q1 24 | $1.9B | $1.5B |
负债/权益比GLREPRGS
| Q4 25 | 0.01× | 2.93× | ||
| Q3 25 | 0.05× | 2.97× | ||
| Q2 25 | 0.09× | 3.22× | ||
| Q1 25 | 0.09× | 3.50× | ||
| Q4 24 | 0.10× | 3.48× | ||
| Q3 24 | 0.09× | — | ||
| Q2 24 | 0.10× | — | ||
| Q1 24 | 0.12× | — |
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 | $100.2M | $62.8M |
| 自由现金流经营现金流 - 资本支出 | — | $59.9M |
| 自由现金流率自由现金流/营收 | — | 23.7% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | 2.03× | 2.44× |
| 过去12个月自由现金流最近4个季度 | — | $229.5M |
8季度趋势，按日历期对齐
经营现金流GLREPRGS
| Q4 25 | $100.2M | $62.8M | ||
| Q3 25 | $31.2M | $73.4M | ||
| Q2 25 | $68.4M | $30.0M | ||
| Q1 25 | $10.4M | $68.9M | ||
| Q4 24 | $29.5M | $19.7M | ||
| Q3 24 | $41.3M | $57.7M | ||
| Q2 24 | $22.7M | $63.7M | ||
| Q1 24 | $18.0M | $70.5M |
自由现金流GLREPRGS
| Q4 25 | — | $59.9M | ||
| Q3 25 | — | $72.4M | ||
| Q2 25 | — | $29.5M | ||
| Q1 25 | — | $67.7M | ||
| Q4 24 | — | $16.8M | ||
| Q3 24 | — | $56.6M | ||
| Q2 24 | — | $62.7M | ||
| Q1 24 | — | $70.2M |
自由现金流率GLREPRGS
| Q4 25 | — | 23.7% | ||
| Q3 25 | — | 29.0% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | — | 28.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 35.8% | ||
| Q1 24 | — | 38.0% |
资本支出强度GLREPRGS
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.2% |
现金转化率GLREPRGS
| Q4 25 | 2.03× | 2.44× | ||
| Q3 25 | — | 3.78× | ||
| Q2 25 | 208.02× | 1.76× | ||
| Q1 25 | 0.35× | 6.30× | ||
| Q4 24 | — | 17.13× | ||
| Q3 24 | 1.17× | 2.03× | ||
| Q2 24 | 2.85× | 3.93× | ||
| Q1 24 | 0.66× | 3.11× |
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
GLRE
| Other | $124.7M | 59% |
| Innovations | $85.6M | 41% |
PRGS
| Maintenanceand Services | $187.5M | 74% |
| Share File Acquisition | $67.5M | 27% |
