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Global Payments（GPN）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
Global Payments的季度营收约是利氏兄弟拍卖行的1.1倍（$1.3B vs $1.2B），Global Payments净利率更高（16.4% vs 9.1%，领先7.2%），利氏兄弟拍卖行同比增速更快（5.4% vs -47.1%），Global Payments自由现金流更多（$347.0M vs $186.5M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% vs -25.9%）
Global Payments Inc.是美国跨国金融科技企业，面向商户、发卡机构及消费者提供支付技术与相关服务，支持信用卡、借记卡、数字支付及非接触式支付的交易处理，2021年6月入选《财富》500强榜单。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
GPN vs RBA — 直观对比
营收规模更大
GPN
是对方的1.1倍
$1.2B
营收增速更快
RBA
高出52.6%
-47.1%
净利率更高
GPN
高出7.2%
9.1%
自由现金流更多
GPN
多$160.5M
$186.5M
两年增速更快
RBA
近两年复合增速
-25.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $217.5M | $109.7M |
| 毛利率 | 89.7% | — |
| 营业利润率 | 5.9% | 14.7% |
| 净利率 | 16.4% | 9.1% |
| 营收同比 | -47.1% | 5.4% |
| 净利润同比 | -61.6% | -7.4% |
| 每股收益（稀释后） | $0.91 | $0.53 |
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GPNRBA
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $2.0B | $1.1B | ||
| Q2 25 | $2.0B | $1.2B | ||
| Q1 25 | $2.4B | $1.1B | ||
| Q4 24 | $2.5B | $1.1B | ||
| Q3 24 | $2.6B | $981.8M | ||
| Q2 24 | $2.6B | $1.1B | ||
| Q1 24 | $2.4B | $1.1B |
净利润GPNRBA
| Q4 25 | $217.5M | $109.7M | ||
| Q3 25 | $635.2M | $95.5M | ||
| Q2 25 | $241.6M | $109.8M | ||
| Q1 25 | $305.7M | $113.4M | ||
| Q4 24 | $567.2M | $118.5M | ||
| Q3 24 | $315.1M | $76.1M | ||
| Q2 24 | $374.8M | $111.1M | ||
| Q1 24 | $313.3M | $107.4M |
毛利率GPNRBA
| Q4 25 | 89.7% | — | ||
| Q3 25 | 72.3% | — | ||
| Q2 25 | 74.5% | — | ||
| Q1 25 | 61.8% | — | ||
| Q4 24 | 62.1% | — | ||
| Q3 24 | 63.6% | — | ||
| Q2 24 | 63.5% | — | ||
| Q1 24 | 61.9% | — |
营业利润率GPNRBA
| Q4 25 | 5.9% | 14.7% | ||
| Q3 25 | 38.8% | 14.5% | ||
| Q2 25 | 21.8% | 15.9% | ||
| Q1 25 | 19.5% | 17.1% | ||
| Q4 24 | 33.1% | 18.1% | ||
| Q3 24 | 18.3% | 15.6% | ||
| Q2 24 | 22.3% | 18.4% | ||
| Q1 24 | 18.7% | 18.7% |
净利率GPNRBA
| Q4 25 | 16.4% | 9.1% | ||
| Q3 25 | 31.6% | 8.7% | ||
| Q2 25 | 12.3% | 9.3% | ||
| Q1 25 | 12.7% | 10.2% | ||
| Q4 24 | 22.5% | 10.4% | ||
| Q3 24 | 12.1% | 7.8% | ||
| Q2 24 | 14.6% | 10.1% | ||
| Q1 24 | 12.9% | 10.1% |
每股收益（稀释后）GPNRBA
| Q4 25 | $0.91 | $0.53 | ||
| Q3 25 | $2.64 | $0.43 | ||
| Q2 25 | $0.99 | $0.53 | ||
| Q1 25 | $1.24 | $0.55 | ||
| Q4 24 | $2.23 | $0.58 | ||
| Q3 24 | $1.24 | $0.36 | ||
| Q2 24 | $1.47 | $0.54 | ||
| Q1 24 | $1.22 | $0.53 |
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 | $8.3B | $531.5M |
| 总债务越低越好 | $19.5B | $2.3B |
| 股东权益账面价值 | $22.9B | $5.6B |
| 总资产 | $53.3B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.85× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资GPNRBA
| Q4 25 | $8.3B | $531.5M | ||
| Q3 25 | $2.6B | $674.7M | ||
| Q2 25 | $2.6B | $710.2M | ||
| Q1 25 | $2.9B | $578.1M | ||
| Q4 24 | $2.5B | $533.9M | ||
| Q3 24 | $2.9B | $650.7M | ||
| Q2 24 | $2.1B | $599.5M | ||
| Q1 24 | $2.2B | $462.8M |
总债务GPNRBA
| Q4 25 | $19.5B | $2.3B | ||
| Q3 25 | $13.3B | $2.6B | ||
| Q2 25 | $14.2B | $2.6B | ||
| Q1 25 | $15.0B | $2.6B | ||
| Q4 24 | $15.2B | $2.6B | ||
| Q3 24 | $15.2B | $2.7B | ||
| Q2 24 | $15.6B | $2.8B | ||
| Q1 24 | $15.6B | $2.9B |
股东权益GPNRBA
| Q4 25 | $22.9B | $5.6B | ||
| Q3 25 | $22.7B | $5.5B | ||
| Q2 25 | $22.6B | $5.5B | ||
| Q1 25 | $22.2B | $5.3B | ||
| Q4 24 | $22.3B | $5.2B | ||
| Q3 24 | $22.8B | $5.2B | ||
| Q2 24 | $22.4B | $5.2B | ||
| Q1 24 | $22.2B | $5.1B |
总资产GPNRBA
| Q4 25 | $53.3B | $12.1B | ||
| Q3 25 | $48.0B | $12.2B | ||
| Q2 25 | $48.5B | $12.2B | ||
| Q1 25 | $47.6B | $11.9B | ||
| Q4 24 | $46.9B | $11.8B | ||
| Q3 24 | $50.0B | $11.9B | ||
| Q2 24 | $50.8B | $12.1B | ||
| Q1 24 | $51.8B | $12.0B |
负债/权益比GPNRBA
| Q4 25 | 0.85× | 0.42× | ||
| Q3 25 | 0.59× | 0.47× | ||
| Q2 25 | 0.63× | 0.47× | ||
| Q1 25 | 0.67× | 0.50× | ||
| Q4 24 | 0.68× | 0.50× | ||
| Q3 24 | 0.67× | 0.52× | ||
| Q2 24 | 0.70× | 0.55× | ||
| Q1 24 | 0.70× | 0.58× |
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 | $515.2M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $347.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 26.1% | 15.5% |
| 资本支出强度资本支出/营收 | 12.7% | 5.7% |
| 现金转化率经营现金流/净利润 | 2.37× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $719.2M |
8季度趋势，按日历期对齐
经营现金流GPNRBA
| Q4 25 | $515.2M | $255.2M | ||
| Q3 25 | $768.7M | $239.7M | ||
| Q2 25 | $817.5M | $326.5M | ||
| Q1 25 | $555.1M | $156.8M | ||
| Q4 24 | $653.4M | $184.5M | ||
| Q3 24 | $1.7B | $285.4M | ||
| Q2 24 | $736.9M | $337.3M | ||
| Q1 24 | $416.3M | $124.8M |
自由现金流GPNRBA
| Q4 25 | $347.0M | $186.5M | ||
| Q3 25 | $598.9M | $188.5M | ||
| Q2 25 | $665.4M | $241.7M | ||
| Q1 25 | $427.5M | $102.5M | ||
| Q4 24 | $469.4M | $127.9M | ||
| Q3 24 | $1.6B | $248.5M | ||
| Q2 24 | $557.7M | $308.6M | ||
| Q1 24 | $270.9M | $79.6M |
自由现金流率GPNRBA
| Q4 25 | 26.1% | 15.5% | ||
| Q3 25 | 29.8% | 17.3% | ||
| Q2 25 | 34.0% | 20.4% | ||
| Q1 25 | 17.7% | 9.2% | ||
| Q4 24 | 18.7% | 11.2% | ||
| Q3 24 | 60.0% | 25.3% | ||
| Q2 24 | 21.7% | 28.2% | ||
| Q1 24 | 11.2% | 7.5% |
资本支出强度GPNRBA
| Q4 25 | 12.7% | 5.7% | ||
| Q3 25 | 8.5% | 4.7% | ||
| Q2 25 | 7.8% | 7.2% | ||
| Q1 25 | 5.3% | 4.9% | ||
| Q4 24 | 7.3% | 5.0% | ||
| Q3 24 | 6.4% | 3.8% | ||
| Q2 24 | 7.0% | 2.6% | ||
| Q1 24 | 6.0% | 4.2% |
现金转化率GPNRBA
| Q4 25 | 2.37× | 2.33× | ||
| Q3 25 | 1.21× | 2.51× | ||
| Q2 25 | 3.38× | 2.97× | ||
| Q1 25 | 1.82× | 1.38× | ||
| Q4 24 | 1.15× | 1.56× | ||
| Q3 24 | 5.48× | 3.75× | ||
| Q2 24 | 1.97× | 3.04× | ||
| Q1 24 | 1.33× | 1.16× |
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
GPN
| Integrated And Embedded Solutions | $869.3M | 65% |
| Point Of Sale And Software Solutions | $281.7M | 21% |
| Other | $178.4M | 13% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
