vs
高途（GOTU）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是高途的2.0倍（$1.5B vs $767.1M），过去两年高途的营收复合增速更高（141.9% vs 3.8%）
高途教育是中国一家教育科技企业，成立于2014年，核心业务包括K12阶段学生的在线辅导，同时也面向成人开设外语学习与职业培训类课程，跟谁学是其旗下核心在线教育平台。
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
GOTU vs PAYX — 直观对比
营收规模更大
PAYX
是对方的2.0倍
$767.1M
两年增速更快
GOTU
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $767.1M | $1.5B |
| 净利润 | — | $395.4M |
| 毛利率 | — | 72.6% |
| 营业利润率 | — | 38.0% |
| 净利率 | — | 26.3% |
| 营收同比 | — | 17.4% |
| 净利润同比 | — | -4.4% |
| 每股收益（稀释后） | — | $1.10 |
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GOTUPAYX
| Q4 25 | $767.1M | $1.5B | ||
| Q3 25 | $221.8M | $1.5B | ||
| Q2 25 | $194.0M | $1.4B | ||
| Q1 25 | $205.7M | $1.5B | ||
| Q4 24 | $318.7M | $1.3B | ||
| Q3 24 | $172.2M | $1.3B | ||
| Q2 24 | $139.0M | $1.3B | ||
| Q1 24 | $131.1M | $1.4B |
净利润GOTUPAYX
| Q4 25 | — | $395.4M | ||
| Q3 25 | $-20.7M | $383.8M | ||
| Q2 25 | $-30.2M | $297.2M | ||
| Q1 25 | — | $519.3M | ||
| Q4 24 | — | $413.4M | ||
| Q3 24 | — | $427.4M | ||
| Q2 24 | $-59.1M | $379.9M | ||
| Q1 24 | $-1.7M | $498.6M |
毛利率GOTUPAYX
| Q4 25 | — | 72.6% | ||
| Q3 25 | 66.1% | 72.3% | ||
| Q2 25 | 66.0% | 71.5% | ||
| Q1 25 | 69.7% | 73.6% | ||
| Q4 24 | — | 70.4% | ||
| Q3 24 | 64.4% | 70.3% | ||
| Q2 24 | 69.0% | 70.1% | ||
| Q1 24 | 71.3% | 72.8% |
营业利润率GOTUPAYX
| Q4 25 | — | 38.0% | ||
| Q3 25 | -11.3% | 36.3% | ||
| Q2 25 | -17.4% | 31.2% | ||
| Q1 25 | — | 47.2% | ||
| Q4 24 | — | 42.0% | ||
| Q3 24 | — | 42.7% | ||
| Q2 24 | -46.0% | 38.3% | ||
| Q1 24 | -8.2% | 46.6% |
净利率GOTUPAYX
| Q4 25 | — | 26.3% | ||
| Q3 25 | -9.3% | 25.7% | ||
| Q2 25 | -15.5% | 21.5% | ||
| Q1 25 | — | 35.4% | ||
| Q4 24 | — | 32.3% | ||
| Q3 24 | — | 33.4% | ||
| Q2 24 | -42.5% | 30.2% | ||
| Q1 24 | -1.3% | 35.7% |
每股收益（稀释后）GOTUPAYX
| Q4 25 | — | $1.10 | ||
| Q3 25 | — | $1.06 | ||
| Q2 25 | — | $0.83 | ||
| Q1 25 | — | $1.43 | ||
| Q4 24 | — | $1.14 | ||
| Q3 24 | — | $1.18 | ||
| Q2 24 | — | $1.05 | ||
| Q1 24 | — | $1.38 |
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 | $596.2M | $1.5B |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | $1.3B | $3.9B |
| 总资产 | $6.2B | $16.5B |
| 负债/权益比越低杠杆越低 | — | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资GOTUPAYX
| Q4 25 | $596.2M | $1.5B | ||
| Q3 25 | $318.7M | $1.7B | ||
| Q2 25 | $814.4M | $1.7B | ||
| Q1 25 | $1.0B | $1.6B | ||
| Q4 24 | $433.8M | $1.2B | ||
| Q3 24 | $855.8M | $1.5B | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.2B | $1.7B |
总债务GOTUPAYX
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $798.6M | ||
| Q1 24 | — | — |
股东权益GOTUPAYX
| Q4 25 | $1.3B | $3.9B | ||
| Q3 25 | $1.4B | $4.0B | ||
| Q2 25 | $1.6B | $4.1B | ||
| Q1 25 | $1.9B | $4.1B | ||
| Q4 24 | $264.9M | $3.9B | ||
| Q3 24 | $2.1B | $3.9B | ||
| Q2 24 | $2.7B | $3.8B | ||
| Q1 24 | $3.1B | $3.7B |
总资产GOTUPAYX
| Q4 25 | $6.2B | $16.5B | ||
| Q3 25 | $5.1B | $16.7B | ||
| Q2 25 | $5.9B | $16.6B | ||
| Q1 25 | $5.2B | $11.2B | ||
| Q4 24 | $798.4M | $10.6B | ||
| Q3 24 | $5.2B | $10.5B | ||
| Q2 24 | $5.8B | $10.4B | ||
| Q1 24 | $5.3B | $13.0B |
负债/权益比GOTUPAYX
| Q4 25 | — | 1.28× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | — | — |
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 | — | $444.9M |
| 自由现金流经营现金流 - 资本支出 | — | $382.8M |
| 自由现金流率自由现金流/营收 | — | 25.5% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流GOTUPAYX
| Q4 25 | — | $444.9M | ||
| Q3 25 | — | $718.4M | ||
| Q2 25 | — | $343.8M | ||
| Q1 25 | — | $716.0M | ||
| Q4 24 | $35.3M | $295.0M | ||
| Q3 24 | — | $546.1M | ||
| Q2 24 | — | $221.7M | ||
| Q1 24 | — | $671.7M |
自由现金流GOTUPAYX
| Q4 25 | — | $382.8M | ||
| Q3 25 | — | $662.5M | ||
| Q2 25 | — | $283.3M | ||
| Q1 25 | — | $667.3M | ||
| Q4 24 | $10.9M | $248.0M | ||
| Q3 24 | — | $510.5M | ||
| Q2 24 | — | $180.4M | ||
| Q1 24 | — | $631.0M |
自由现金流率GOTUPAYX
| Q4 25 | — | 25.5% | ||
| Q3 25 | — | 44.4% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | 45.5% | ||
| Q4 24 | 3.4% | 19.4% | ||
| Q3 24 | — | 39.9% | ||
| Q2 24 | — | 14.4% | ||
| Q1 24 | — | 45.2% |
资本支出强度GOTUPAYX
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | 4.4% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | 7.7% | 3.7% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 2.9% |
现金转化率GOTUPAYX
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.87× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | — | 0.71× | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | 0.58× | ||
| Q1 24 | — | 1.35× |
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
GOTU
暂无分部数据
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
