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H2O AMERICA（HTO）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H2O AMERICA的1.3倍（$252.7M vs $199.4M），PROGRESS SOFTWARE CORP净利率更高（10.2% vs 8.1%，领先2.1%），PROGRESS SOFTWARE CORP同比增速更快（17.5% vs 1.5%），过去两年PROGRESS SOFTWARE CORP的营收复合增速更高（17.0% vs 15.3%）
H2O Wireless是美国的预付费移动通信服务商，依托AT&T网络运营，隶属于MVNO（移动虚拟网络运营商）Locus通信，自2019年起Locus成为Telrite控股的子公司，此前2010年起曾是KDDI美国旗下资产。该品牌主打无限制套餐服务，支持用户自带或购买无锁智能手机入网，AT&T合约机/锁网机也可兼容使用。
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。
HTO vs PRGS — 直观对比
营收规模更大
PRGS
是对方的1.3倍
$199.4M
营收增速更快
PRGS
高出16.1%
1.5%
净利率更高
PRGS
高出2.1%
8.1%
两年增速更快
PRGS
近两年复合增速
15.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $252.7M |
| 净利润 | $16.2M | $25.7M |
| 毛利率 | — | 81.6% |
| 营业利润率 | 16.6% | 15.2% |
| 净利率 | 8.1% | 10.2% |
| 营收同比 | 1.5% | 17.5% |
| 净利润同比 | -29.2% | 2144.6% |
| 每股收益（稀释后） | $0.45 | $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HTOPRGS
| Q4 25 | $199.4M | $252.7M | ||
| Q3 25 | $243.5M | $249.8M | ||
| Q2 25 | $197.8M | $237.4M | ||
| Q1 25 | $164.9M | $238.0M | ||
| Q4 24 | $196.5M | $215.0M | ||
| Q3 24 | $216.7M | $178.7M | ||
| Q2 24 | $173.1M | $175.1M | ||
| Q1 24 | $150.0M | $184.7M |
净利润HTOPRGS
| Q4 25 | $16.2M | $25.7M | ||
| Q3 25 | $45.1M | $19.4M | ||
| Q2 25 | $24.7M | $17.0M | ||
| Q1 25 | $16.6M | $10.9M | ||
| Q4 24 | $22.9M | $1.1M | ||
| Q3 24 | $38.7M | $28.5M | ||
| Q2 24 | $20.7M | $16.2M | ||
| Q1 24 | $11.7M | $22.6M |
毛利率HTOPRGS
| 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HTOPRGS
| Q4 25 | 16.6% | 15.2% | ||
| Q3 25 | 26.5% | 17.6% | ||
| Q2 25 | 22.2% | 16.3% | ||
| Q1 25 | 21.8% | 13.6% | ||
| Q4 24 | 22.2% | 10.0% | ||
| Q3 24 | 26.9% | 22.6% | ||
| Q2 24 | 23.4% | 15.5% | ||
| Q1 24 | 18.6% | 19.0% |
净利率HTOPRGS
| Q4 25 | 8.1% | 10.2% | ||
| Q3 25 | 18.5% | 7.8% | ||
| Q2 25 | 12.5% | 7.2% | ||
| Q1 25 | 10.0% | 4.6% | ||
| Q4 24 | 11.7% | 0.5% | ||
| Q3 24 | 17.8% | 15.9% | ||
| Q2 24 | 12.0% | 9.2% | ||
| Q1 24 | 7.8% | 12.3% |
每股收益（稀释后）HTOPRGS
| Q4 25 | $0.45 | $0.59 | ||
| Q3 25 | $1.27 | $0.44 | ||
| Q2 25 | $0.71 | $0.39 | ||
| Q1 25 | $0.49 | $0.24 | ||
| Q4 24 | $0.70 | $0.01 | ||
| Q3 24 | $1.17 | $0.65 | ||
| Q2 24 | $0.64 | $0.37 | ||
| Q1 24 | $0.36 | $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 | $20.7M | $94.8M |
| 总债务越低越好 | $1.9B | $1.4B |
| 股东权益账面价值 | $1.5B | $478.3M |
| 总资产 | $5.1B | $2.5B |
| 负债/权益比越低杠杆越低 | 1.23× | 2.93× |
8季度趋势，按日历期对齐
现金及短期投资HTOPRGS
| Q4 25 | $20.7M | $94.8M | ||
| Q3 25 | $11.3M | $99.0M | ||
| Q2 25 | $19.8M | $102.0M | ||
| Q1 25 | $23.7M | $124.2M | ||
| Q4 24 | $11.1M | $118.1M | ||
| Q3 24 | $4.0M | $232.7M | ||
| Q2 24 | $22.8M | $190.4M | ||
| Q1 24 | $4.5M | $133.2M |
总债务HTOPRGS
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $1.7B | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HTOPRGS
| Q4 25 | $1.5B | $478.3M | ||
| Q3 25 | $1.5B | $477.7M | ||
| Q2 25 | $1.5B | $452.7M | ||
| Q1 25 | $1.4B | $431.8M | ||
| Q4 24 | $1.4B | $438.8M | ||
| Q3 24 | $1.3B | $425.6M | ||
| Q2 24 | $1.3B | $401.7M | ||
| Q1 24 | $1.2B | $461.7M |
总资产HTOPRGS
| Q4 25 | $5.1B | $2.5B | ||
| Q3 25 | $5.0B | $2.4B | ||
| Q2 25 | $4.8B | $2.4B | ||
| Q1 25 | $4.7B | $2.5B | ||
| Q4 24 | $4.7B | $2.5B | ||
| Q3 24 | $4.6B | $1.6B | ||
| Q2 24 | $4.4B | $1.6B | ||
| Q1 24 | $4.4B | $1.5B |
负债/权益比HTOPRGS
| Q4 25 | 1.23× | 2.93× | ||
| Q3 25 | — | 2.97× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.50× | ||
| Q4 24 | 1.26× | 3.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $63.5M | $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 | 3.92× | 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HTOPRGS
| Q4 25 | $63.5M | $62.8M | ||
| Q3 25 | $77.3M | $73.4M | ||
| Q2 25 | $60.8M | $30.0M | ||
| Q1 25 | $43.2M | $68.9M | ||
| Q4 24 | $41.5M | $19.7M | ||
| Q3 24 | $53.5M | $57.7M | ||
| Q2 24 | $49.3M | $63.7M | ||
| Q1 24 | $51.2M | $70.5M |
自由现金流HTOPRGS
| 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HTOPRGS
| 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HTOPRGS
| 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HTOPRGS
| Q4 25 | 3.92× | 2.44× | ||
| Q3 25 | 1.71× | 3.78× | ||
| Q2 25 | 2.47× | 1.76× | ||
| Q1 25 | 2.61× | 6.30× | ||
| Q4 24 | 1.81× | 17.13× | ||
| Q3 24 | 1.39× | 2.03× | ||
| Q2 24 | 2.38× | 3.93× | ||
| Q1 24 | 4.38× | 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
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
PRGS
| Maintenanceand Services | $187.5M | 74% |
| Share File Acquisition | $67.5M | 27% |
