vs
HERITAGE COMMERCE CORP（HTBK）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HERITAGE COMMERCE CORP的1.5倍（$78.6M vs $53.6M），HERITAGE COMMERCE CORP净利率更高（28.2% vs -178.3%，领先206.5%），HERITAGE COMMERCE CORP同比增速更快（15.6% vs 0.4%），HERITAGE COMMERCE CORP自由现金流更多（$61.3M vs $23.2M），过去两年HERITAGE COMMERCE CORP的营收复合增速更高（12.8% vs -1.3%）
本文介绍的企业主体信息与内容描述不符，描述内容实际为美国商会，该商会成立于1912年4月23日，是美国规模最大的游说类商业协会 advocacy 团体，成立之初得益于时任总统威廉·霍华德·塔夫脱与劳工商务部长查尔斯·内格尔推动，旨在代表工商界发声。
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。
HTBK vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.5倍
$53.6M
营收增速更快
HTBK
高出15.2%
0.4%
净利率更高
HTBK
高出206.5%
-178.3%
自由现金流更多
HTBK
多$38.1M
$23.2M
两年增速更快
HTBK
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $53.6M | $78.6M |
| 净利润 | $15.1M | $-140.1M |
| 毛利率 | — | 74.2% |
| 营业利润率 | 41.0% | -182.2% |
| 净利率 | 28.2% | -178.3% |
| 营收同比 | 15.6% | 0.4% |
| 净利润同比 | 42.3% | -3304.1% |
| 每股收益（稀释后） | $0.25 | $-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HTBKRPAY
| Q4 25 | $53.6M | $78.6M | ||
| Q3 25 | $50.0M | $77.7M | ||
| Q2 25 | $47.8M | $75.6M | ||
| Q1 25 | $46.1M | $77.3M | ||
| Q4 24 | $46.4M | $78.3M | ||
| Q3 24 | $42.2M | $79.1M | ||
| Q2 24 | $41.7M | $74.9M | ||
| Q1 24 | $42.1M | $80.7M |
净利润HTBKRPAY
| Q4 25 | $15.1M | $-140.1M | ||
| Q3 25 | $14.7M | $-6.4M | ||
| Q2 25 | $6.4M | $-102.3M | ||
| Q1 25 | $11.6M | $-7.9M | ||
| Q4 24 | $10.6M | $-4.1M | ||
| Q3 24 | $10.5M | $3.2M | ||
| Q2 24 | $9.2M | $-4.1M | ||
| Q1 24 | $10.2M | $-5.2M |
毛利率HTBKRPAY
| 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HTBKRPAY
| Q4 25 | 41.0% | -182.2% | ||
| Q3 25 | 41.1% | -3.9% | ||
| Q2 25 | 18.7% | -138.7% | ||
| Q1 25 | 35.4% | -4.7% | ||
| Q4 24 | 31.8% | -1.5% | ||
| Q3 24 | 34.3% | -0.9% | ||
| Q2 24 | 31.3% | -4.6% | ||
| Q1 24 | 34.2% | -3.1% |
净利率HTBKRPAY
| Q4 25 | 28.2% | -178.3% | ||
| Q3 25 | 29.4% | -8.3% | ||
| Q2 25 | 13.4% | -135.2% | ||
| Q1 25 | 25.2% | -10.3% | ||
| Q4 24 | 22.9% | -5.3% | ||
| Q3 24 | 24.9% | 4.1% | ||
| Q2 24 | 22.1% | -5.4% | ||
| Q1 24 | 24.1% | -6.5% |
每股收益（稀释后）HTBKRPAY
| Q4 25 | $0.25 | $-1.68 | ||
| Q3 25 | $0.24 | $-0.08 | ||
| Q2 25 | $0.10 | $-1.15 | ||
| Q1 25 | $0.19 | $-0.09 | ||
| Q4 24 | $0.17 | $-0.04 | ||
| Q3 24 | $0.17 | $0.03 | ||
| Q2 24 | $0.15 | $-0.04 | ||
| Q1 24 | $0.17 | $-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 | — | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $708.6M | $484.4M |
| 总资产 | $5.8B | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资HTBKRPAY
| Q4 25 | — | $115.7M | ||
| Q3 25 | — | $95.7M | ||
| Q2 25 | — | $162.6M | ||
| Q1 25 | — | $165.5M | ||
| Q4 24 | — | $189.5M | ||
| Q3 24 | — | $168.7M | ||
| Q2 24 | — | $147.1M | ||
| Q1 24 | — | $128.3M |
总债务HTBKRPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益HTBKRPAY
| Q4 25 | $708.6M | $484.4M | ||
| Q3 25 | $700.0M | $616.9M | ||
| Q2 25 | $694.7M | $633.7M | ||
| Q1 25 | $696.2M | $755.7M | ||
| Q4 24 | $689.7M | $761.3M | ||
| Q3 24 | $685.4M | $754.7M | ||
| Q2 24 | $679.2M | $815.4M | ||
| Q1 24 | $676.3M | $813.8M |
总资产HTBKRPAY
| Q4 25 | $5.8B | $1.2B | ||
| Q3 25 | $5.6B | $1.3B | ||
| Q2 25 | $5.5B | $1.4B | ||
| Q1 25 | $5.5B | $1.5B | ||
| Q4 24 | $5.6B | $1.6B | ||
| Q3 24 | $5.6B | $1.6B | ||
| Q2 24 | $5.3B | $1.5B | ||
| Q1 24 | $5.3B | $1.5B |
负债/权益比HTBKRPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 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 | $61.7M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $61.3M | $23.2M |
| 自由现金流率自由现金流/营收 | 114.3% | 29.6% |
| 资本支出强度资本支出/营收 | 0.7% | 0.1% |
| 现金转化率经营现金流/净利润 | 4.08× | — |
| 过去12个月自由现金流最近4个季度 | — | $90.7M |
8季度趋势，按日历期对齐
经营现金流HTBKRPAY
| Q4 25 | $61.7M | $23.3M | ||
| Q3 25 | $18.9M | $32.2M | ||
| Q2 25 | $8.0M | $33.1M | ||
| Q1 25 | $14.8M | $2.5M | ||
| Q4 24 | $39.0M | $34.3M | ||
| Q3 24 | $5.3M | $60.1M | ||
| Q2 24 | $10.5M | $31.0M | ||
| Q1 24 | $7.3M | $24.8M |
自由现金流HTBKRPAY
| Q4 25 | $61.3M | $23.2M | ||
| Q3 25 | $18.8M | $32.1M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $2.4M | ||
| Q4 24 | $37.3M | $34.0M | ||
| Q3 24 | $4.9M | $59.8M | ||
| Q2 24 | $9.9M | $30.5M | ||
| Q1 24 | $6.9M | $24.7M |
自由现金流率HTBKRPAY
| Q4 25 | 114.3% | 29.6% | ||
| Q3 25 | 37.7% | 41.3% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | 80.5% | 43.5% | ||
| Q3 24 | 11.6% | 75.6% | ||
| Q2 24 | 23.6% | 40.7% | ||
| Q1 24 | 16.4% | 30.6% |
资本支出强度HTBKRPAY
| Q4 25 | 0.7% | 0.1% | ||
| Q3 25 | 0.1% | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 3.5% | 0.3% | ||
| Q3 24 | 1.0% | 0.3% | ||
| Q2 24 | 1.6% | 0.6% | ||
| Q1 24 | 1.0% | 0.1% |
现金转化率HTBKRPAY
| Q4 25 | 4.08× | — | ||
| Q3 25 | 1.28× | — | ||
| Q2 25 | 1.25× | — | ||
| Q1 25 | 1.28× | — | ||
| Q4 24 | 3.67× | — | ||
| Q3 24 | 0.50× | 18.52× | ||
| Q2 24 | 1.14× | — | ||
| Q1 24 | 0.72× | — |
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
HTBK
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% |
