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HORIZON BANCORP INC（HBNC）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HORIZON BANCORP INC的1.2倍（$78.6M vs $63.5M），HORIZON BANCORP INC净利率更高（42.4% vs -178.3%，领先220.7%），HORIZON BANCORP INC同比增速更快（19.5% vs 0.4%），HORIZON BANCORP INC自由现金流更多（$74.3M vs $23.2M），过去两年HORIZON BANCORP INC的营收复合增速更高（9.2% vs -1.3%）
第一地平线集团（原第一田纳西银行）是一家金融服务企业，1864年成立，总部位于美国田纳西州孟菲斯。集团通过旗下银行子公司第一地平线银行，在美国东南部12个州开展金融业务，是该区域第四大区域性银行。
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。
HBNC vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.2倍
$63.5M
营收增速更快
HBNC
高出19.1%
0.4%
净利率更高
HBNC
高出220.7%
-178.3%
自由现金流更多
HBNC
多$51.0M
$23.2M
两年增速更快
HBNC
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $63.5M | $78.6M |
| 净利润 | $26.9M | $-140.1M |
| 毛利率 | — | 74.2% |
| 营业利润率 | 51.5% | -182.2% |
| 净利率 | 42.4% | -178.3% |
| 营收同比 | 19.5% | 0.4% |
| 净利润同比 | 347.4% | -3304.1% |
| 每股收益（稀释后） | $0.44 | $-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HBNCRPAY
| Q4 25 | $63.5M | $78.6M | ||
| Q3 25 | $58.4M | $77.7M | ||
| Q2 25 | $66.3M | $75.6M | ||
| Q1 25 | $68.8M | $77.3M | ||
| Q4 24 | $53.1M | $78.3M | ||
| Q3 24 | $58.4M | $79.1M | ||
| Q2 24 | $55.8M | $74.9M | ||
| Q1 24 | $53.2M | $80.7M |
净利润HBNCRPAY
| Q4 25 | $26.9M | $-140.1M | ||
| Q3 25 | $-222.0M | $-6.4M | ||
| Q2 25 | $20.6M | $-102.3M | ||
| Q1 25 | $23.9M | $-7.9M | ||
| Q4 24 | $-10.9M | $-4.1M | ||
| Q3 24 | $18.2M | $3.2M | ||
| Q2 24 | $14.1M | $-4.1M | ||
| Q1 24 | $14.0M | $-5.2M |
毛利率HBNCRPAY
| 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HBNCRPAY
| Q4 25 | 51.5% | -182.2% | ||
| Q3 25 | -490.4% | -3.9% | ||
| Q2 25 | 36.8% | -138.7% | ||
| Q1 25 | 40.8% | -4.7% | ||
| Q4 24 | -41.3% | -1.5% | ||
| Q3 24 | 31.0% | -0.9% | ||
| Q2 24 | 28.5% | -4.6% | ||
| Q1 24 | 28.8% | -3.1% |
净利率HBNCRPAY
| Q4 25 | 42.4% | -178.3% | ||
| Q3 25 | -380.2% | -8.3% | ||
| Q2 25 | 31.1% | -135.2% | ||
| Q1 25 | 34.8% | -10.3% | ||
| Q4 24 | -20.5% | -5.3% | ||
| Q3 24 | 31.1% | 4.1% | ||
| Q2 24 | 25.4% | -5.4% | ||
| Q1 24 | 26.3% | -6.5% |
每股收益（稀释后）HBNCRPAY
| Q4 25 | $0.44 | $-1.68 | ||
| Q3 25 | $-4.69 | $-0.08 | ||
| Q2 25 | $0.47 | $-1.15 | ||
| Q1 25 | $0.54 | $-0.09 | ||
| Q4 24 | $-0.25 | $-0.04 | ||
| Q3 24 | $0.41 | $0.03 | ||
| Q2 24 | $0.32 | $-0.04 | ||
| Q1 24 | $0.32 | $-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 | $139.5M | $115.7M |
| 总债务越低越好 | $248.6M | $280.1M |
| 股东权益账面价值 | $688.3M | $484.4M |
| 总资产 | $6.4B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.36× | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资HBNCRPAY
| Q4 25 | $139.5M | $115.7M | ||
| Q3 25 | $458.3M | $95.7M | ||
| Q2 25 | $137.9M | $162.6M | ||
| Q1 25 | $169.7M | $165.5M | ||
| Q4 24 | $293.4M | $189.5M | ||
| Q3 24 | $234.8M | $168.7M | ||
| Q2 24 | $146.1M | $147.1M | ||
| Q1 24 | — | $128.3M |
总债务HBNCRPAY
| Q4 25 | $248.6M | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | $1.2B | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益HBNCRPAY
| Q4 25 | $688.3M | $484.4M | ||
| Q3 25 | $660.8M | $616.9M | ||
| Q2 25 | $790.9M | $633.7M | ||
| Q1 25 | $776.1M | $755.7M | ||
| Q4 24 | $763.6M | $761.3M | ||
| Q3 24 | $754.8M | $754.7M | ||
| Q2 24 | $726.7M | $815.4M | ||
| Q1 24 | $721.3M | $813.8M |
总资产HBNCRPAY
| Q4 25 | $6.4B | $1.2B | ||
| Q3 25 | $6.7B | $1.3B | ||
| Q2 25 | $7.7B | $1.4B | ||
| Q1 25 | $7.6B | $1.5B | ||
| Q4 24 | $7.8B | $1.6B | ||
| Q3 24 | $7.9B | $1.6B | ||
| Q2 24 | $7.9B | $1.5B | ||
| Q1 24 | $7.9B | $1.5B |
负债/权益比HBNCRPAY
| Q4 25 | 0.36× | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | 1.61× | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 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 | $79.2M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $74.3M | $23.2M |
| 自由现金流率自由现金流/营收 | 117.0% | 29.6% |
| 资本支出强度资本支出/营收 | 7.8% | 0.1% |
| 现金转化率经营现金流/净利润 | 2.94× | — |
| 过去12个月自由现金流最近4个季度 | $115.9M | $90.7M |
8季度趋势，按日历期对齐
经营现金流HBNCRPAY
| Q4 25 | $79.2M | $23.3M | ||
| Q3 25 | $10.9M | $32.2M | ||
| Q2 25 | $19.5M | $33.1M | ||
| Q1 25 | $15.2M | $2.5M | ||
| Q4 24 | $6.4M | $34.3M | ||
| Q3 24 | $32.3M | $60.1M | ||
| Q2 24 | $15.9M | $31.0M | ||
| Q1 24 | $6.5M | $24.8M |
自由现金流HBNCRPAY
| Q4 25 | $74.3M | $23.2M | ||
| Q3 25 | $9.4M | $32.1M | ||
| Q2 25 | $18.1M | $33.0M | ||
| Q1 25 | $14.1M | $2.4M | ||
| Q4 24 | $1.3M | $34.0M | ||
| Q3 24 | $31.0M | $59.8M | ||
| Q2 24 | $15.1M | $30.5M | ||
| Q1 24 | $5.4M | $24.7M |
自由现金流率HBNCRPAY
| Q4 25 | 117.0% | 29.6% | ||
| Q3 25 | 16.1% | 41.3% | ||
| Q2 25 | 27.3% | 43.6% | ||
| Q1 25 | 20.5% | 3.0% | ||
| Q4 24 | 2.4% | 43.5% | ||
| Q3 24 | 53.1% | 75.6% | ||
| Q2 24 | 27.1% | 40.7% | ||
| Q1 24 | 10.1% | 30.6% |
资本支出强度HBNCRPAY
| Q4 25 | 7.8% | 0.1% | ||
| Q3 25 | 2.6% | 0.2% | ||
| Q2 25 | 2.1% | 0.1% | ||
| Q1 25 | 1.6% | 0.2% | ||
| Q4 24 | 9.6% | 0.3% | ||
| Q3 24 | 2.2% | 0.3% | ||
| Q2 24 | 1.5% | 0.6% | ||
| Q1 24 | 2.2% | 0.1% |
现金转化率HBNCRPAY
| Q4 25 | 2.94× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.78× | 18.52× | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 0.47× | — |
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
HBNC
暂无分部数据
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
