vs
HUBSPOT INC（HUBS）与Trade Desk (The)（TTD）财务数据对比。点击上方公司名可切换其他公司
Trade Desk (The)的季度营收约是HUBSPOT INC的1.0倍（$846.8M vs $846.7M），Trade Desk (The)净利率更高（22.1% vs 6.4%，领先15.6%），HUBSPOT INC同比增速更快（20.4% vs 14.3%），Trade Desk (The)自由现金流更多（$285.3M vs $234.0M），过去两年Trade Desk (The)的营收复合增速更高（31.3% vs 17.1%）
HubSpot Inc.是总部位于美国马萨诸塞州剑桥市的企业服务提供商，2006年由布莱恩·哈利根与达尔梅什·沙阿联合创立，专注于研发和推广适配营销、销售及客户服务全场景的软件产品，为全球各规模企业的数字化运营提供工具支持。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
HUBS vs TTD — 直观对比
营收规模更大
TTD
是对方的1.0倍
$846.7M
营收增速更快
HUBS
高出6.1%
14.3%
净利率更高
TTD
高出15.6%
6.4%
自由现金流更多
TTD
多$51.3M
$234.0M
两年增速更快
TTD
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $846.7M | $846.8M |
| 净利润 | $54.4M | $186.9M |
| 毛利率 | 83.7% | 80.7% |
| 营业利润率 | 5.7% | 30.3% |
| 净利率 | 6.4% | 22.1% |
| 营收同比 | 20.4% | 14.3% |
| 净利润同比 | 992.2% | 2.6% |
| 每股收益（稀释后） | $1.03 | $0.39 |
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HUBSTTD
| Q4 25 | $846.7M | $846.8M | ||
| Q3 25 | $809.5M | $739.4M | ||
| Q2 25 | $760.9M | $694.0M | ||
| Q1 25 | $714.1M | $616.0M | ||
| Q4 24 | $703.2M | $741.0M | ||
| Q3 24 | $669.7M | $628.0M | ||
| Q2 24 | $637.2M | $584.5M | ||
| Q1 24 | $617.4M | $491.3M |
净利润HUBSTTD
| Q4 25 | $54.4M | $186.9M | ||
| Q3 25 | $16.5M | $115.5M | ||
| Q2 25 | $-3.3M | $90.1M | ||
| Q1 25 | $-21.8M | $50.7M | ||
| Q4 24 | $5.0M | $182.2M | ||
| Q3 24 | $8.1M | $94.2M | ||
| Q2 24 | $-14.4M | $85.0M | ||
| Q1 24 | $5.9M | $31.7M |
毛利率HUBSTTD
| Q4 25 | 83.7% | 80.7% | ||
| Q3 25 | 83.5% | 78.1% | ||
| Q2 25 | 83.9% | 78.2% | ||
| Q1 25 | 83.9% | 76.8% | ||
| Q4 24 | 85.3% | 81.7% | ||
| Q3 24 | 85.2% | 80.5% | ||
| Q2 24 | 85.0% | 81.1% | ||
| Q1 24 | 84.6% | 78.9% |
营业利润率HUBSTTD
| Q4 25 | 5.7% | 30.3% | ||
| Q3 25 | 1.4% | 21.8% | ||
| Q2 25 | -3.2% | 16.8% | ||
| Q1 25 | -3.8% | 8.8% | ||
| Q4 24 | -1.5% | 26.4% | ||
| Q3 24 | -1.4% | 17.3% | ||
| Q2 24 | -3.8% | 16.2% | ||
| Q1 24 | -3.8% | 5.8% |
净利率HUBSTTD
| Q4 25 | 6.4% | 22.1% | ||
| Q3 25 | 2.0% | 15.6% | ||
| Q2 25 | -0.4% | 13.0% | ||
| Q1 25 | -3.1% | 8.2% | ||
| Q4 24 | 0.7% | 24.6% | ||
| Q3 24 | 1.2% | 15.0% | ||
| Q2 24 | -2.3% | 14.5% | ||
| Q1 24 | 1.0% | 6.4% |
每股收益（稀释后）HUBSTTD
| Q4 25 | $1.03 | $0.39 | ||
| Q3 25 | $0.31 | $0.23 | ||
| Q2 25 | $-0.06 | $0.18 | ||
| Q1 25 | $-0.42 | $0.10 | ||
| Q4 24 | $0.09 | $0.36 | ||
| Q3 24 | $0.16 | $0.19 | ||
| Q2 24 | $-0.28 | $0.17 | ||
| Q1 24 | $0.12 | $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 | $882.2M | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $2.5B |
| 总资产 | $3.9B | $6.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资HUBSTTD
| Q4 25 | $882.2M | $1.3B | ||
| Q3 25 | $614.4M | $1.4B | ||
| Q2 25 | $601.2M | $1.7B | ||
| Q1 25 | $625.0M | $1.7B | ||
| Q4 24 | $512.7M | $1.9B | ||
| Q3 24 | $410.1M | $1.7B | ||
| Q2 24 | $797.9M | $1.5B | ||
| Q1 24 | $447.8M | $1.4B |
股东权益HUBSTTD
| Q4 25 | $2.1B | $2.5B | ||
| Q3 25 | $1.9B | $2.6B | ||
| Q2 25 | $2.1B | $2.7B | ||
| Q1 25 | $2.0B | $2.7B | ||
| Q4 24 | $1.9B | $2.9B | ||
| Q3 24 | $1.8B | $2.6B | ||
| Q2 24 | $1.6B | $2.4B | ||
| Q1 24 | $1.4B | $2.2B |
总资产HUBSTTD
| Q4 25 | $3.9B | $6.2B | ||
| Q3 25 | $3.5B | $5.9B | ||
| Q2 25 | $3.7B | $6.0B | ||
| Q1 25 | $3.9B | $5.7B | ||
| Q4 24 | $3.8B | $6.1B | ||
| Q3 24 | $3.6B | $5.5B | ||
| Q2 24 | $3.4B | $5.2B | ||
| Q1 24 | $3.2B | $4.7B |
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 | $247.4M | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $234.0M | $285.3M |
| 自由现金流率自由现金流/营收 | 27.6% | 33.7% |
| 资本支出强度资本支出/营收 | 1.6% | 3.1% |
| 现金转化率经营现金流/净利润 | 4.55× | 1.67× |
| 过去12个月自由现金流最近4个季度 | $707.6M | $795.7M |
8季度趋势，按日历期对齐
经营现金流HUBSTTD
| Q4 25 | $247.4M | $311.6M | ||
| Q3 25 | $187.4M | $224.7M | ||
| Q2 25 | $164.4M | $165.0M | ||
| Q1 25 | $161.6M | $291.4M | ||
| Q4 24 | $194.1M | $199.4M | ||
| Q3 24 | $159.5M | $273.3M | ||
| Q2 24 | $117.8M | $81.3M | ||
| Q1 24 | $127.1M | $185.5M |
自由现金流HUBSTTD
| Q4 25 | $234.0M | $285.3M | ||
| Q3 25 | $177.0M | $158.3M | ||
| Q2 25 | $148.3M | $119.8M | ||
| Q1 25 | $148.2M | $232.3M | ||
| Q4 24 | $181.4M | $179.2M | ||
| Q3 24 | $148.4M | $224.6M | ||
| Q2 24 | $109.6M | $59.1M | ||
| Q1 24 | $121.2M | $178.2M |
自由现金流率HUBSTTD
| Q4 25 | 27.6% | 33.7% | ||
| Q3 25 | 21.9% | 21.4% | ||
| Q2 25 | 19.5% | 17.3% | ||
| Q1 25 | 20.8% | 37.7% | ||
| Q4 24 | 25.8% | 24.2% | ||
| Q3 24 | 22.2% | 35.8% | ||
| Q2 24 | 17.2% | 10.1% | ||
| Q1 24 | 19.6% | 36.3% |
资本支出强度HUBSTTD
| Q4 25 | 1.6% | 3.1% | ||
| Q3 25 | 1.3% | 9.0% | ||
| Q2 25 | 2.1% | 6.5% | ||
| Q1 25 | 1.9% | 9.6% | ||
| Q4 24 | 1.8% | 2.7% | ||
| Q3 24 | 1.7% | 7.8% | ||
| Q2 24 | 1.3% | 3.8% | ||
| Q1 24 | 1.0% | 1.5% |
现金转化率HUBSTTD
| Q4 25 | 4.55× | 1.67× | ||
| Q3 25 | 11.33× | 1.94× | ||
| Q2 25 | — | 1.83× | ||
| Q1 25 | — | 5.75× | ||
| Q4 24 | 38.96× | 1.09× | ||
| Q3 24 | 19.59× | 2.90× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | 21.42× | 5.86× |
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
HUBS
| Subscription And Circulation | $829.0M | 98% |
| Services | $17.8M | 2% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
