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HUBSPOT INC（HUBS）与Zscaler, Inc.（ZS）财务数据对比。点击上方公司名可切换其他公司
HUBSPOT INC的季度营收约是Zscaler, Inc.的1.1倍（$846.7M vs $788.1M），HUBSPOT INC净利率更高（6.4% vs -1.5%，领先7.9%），Zscaler, Inc.同比增速更快（25.5% vs 20.4%），Zscaler, Inc.自由现金流更多（$431.0M vs $234.0M），过去两年Zscaler, Inc.的营收复合增速更高（22.5% 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。
Zscaler是总部位于美国加利福尼亚州圣何塞的云安全企业，专注提供云原生安全服务，为全球各行业企业的网络系统与数据资产提供全方位防护，助力企业在数字化运营过程中抵御各类安全风险，保障业务稳定开展。
HUBS vs ZS — 直观对比
营收规模更大
HUBS
是对方的1.1倍
$788.1M
营收增速更快
ZS
高出5.1%
20.4%
净利率更高
HUBS
高出7.9%
-1.5%
自由现金流更多
ZS
多$197.0M
$234.0M
两年增速更快
ZS
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $846.7M | $788.1M |
| 净利润 | $54.4M | $-11.6M |
| 毛利率 | 83.7% | 76.6% |
| 营业利润率 | 5.7% | -4.6% |
| 净利率 | 6.4% | -1.5% |
| 营收同比 | 20.4% | 25.5% |
| 净利润同比 | 992.2% | 3.6% |
| 每股收益（稀释后） | $1.03 | $-0.07 |
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HUBSZS
| Q4 25 | $846.7M | $788.1M | ||
| Q3 25 | $809.5M | $719.2M | ||
| Q2 25 | $760.9M | $678.0M | ||
| Q1 25 | $714.1M | $647.9M | ||
| Q4 24 | $703.2M | $628.0M | ||
| Q3 24 | $669.7M | $592.9M | ||
| Q2 24 | $637.2M | $553.2M | ||
| Q1 24 | $617.4M | $525.0M |
净利润HUBSZS
| Q4 25 | $54.4M | $-11.6M | ||
| Q3 25 | $16.5M | $-17.6M | ||
| Q2 25 | $-3.3M | $-4.1M | ||
| Q1 25 | $-21.8M | $-7.7M | ||
| Q4 24 | $5.0M | $-12.1M | ||
| Q3 24 | $8.1M | $-14.9M | ||
| Q2 24 | $-14.4M | $19.1M | ||
| Q1 24 | $5.9M | $-28.5M |
毛利率HUBSZS
| Q4 25 | 83.7% | 76.6% | ||
| Q3 25 | 83.5% | 76.1% | ||
| Q2 25 | 83.9% | 77.0% | ||
| Q1 25 | 83.9% | 77.1% | ||
| Q4 24 | 85.3% | 77.5% | ||
| Q3 24 | 85.2% | 78.0% | ||
| Q2 24 | 85.0% | 78.6% | ||
| Q1 24 | 84.6% | 77.7% |
营业利润率HUBSZS
| Q4 25 | 5.7% | -4.6% | ||
| Q3 25 | 1.4% | -4.5% | ||
| Q2 25 | -3.2% | -3.7% | ||
| Q1 25 | -3.8% | -6.2% | ||
| Q4 24 | -1.5% | -4.9% | ||
| Q3 24 | -1.4% | -4.5% | ||
| Q2 24 | -3.8% | -0.5% | ||
| Q1 24 | -3.8% | -8.7% |
净利率HUBSZS
| Q4 25 | 6.4% | -1.5% | ||
| Q3 25 | 2.0% | -2.4% | ||
| Q2 25 | -0.4% | -0.6% | ||
| Q1 25 | -3.1% | -1.2% | ||
| Q4 24 | 0.7% | -1.9% | ||
| Q3 24 | 1.2% | -2.5% | ||
| Q2 24 | -2.3% | 3.5% | ||
| Q1 24 | 1.0% | -5.4% |
每股收益（稀释后）HUBSZS
| Q4 25 | $1.03 | $-0.07 | ||
| Q3 25 | $0.31 | $-0.11 | ||
| Q2 25 | $-0.06 | $-0.03 | ||
| Q1 25 | $-0.42 | $-0.05 | ||
| Q4 24 | $0.09 | $-0.08 | ||
| Q3 24 | $0.16 | $-0.09 | ||
| Q2 24 | $-0.28 | $0.12 | ||
| Q1 24 | $0.12 | $-0.19 |
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 | $2.0B |
| 总资产 | $3.9B | $6.5B |
| 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HUBSZS
| Q4 25 | $882.2M | $1.3B | ||
| Q3 25 | $614.4M | $2.4B | ||
| Q2 25 | $601.2M | $2.0B | ||
| Q1 25 | $625.0M | $1.8B | ||
| Q4 24 | $512.7M | $1.6B | ||
| Q3 24 | $410.1M | $1.4B | ||
| Q2 24 | $797.9M | $1.3B | ||
| Q1 24 | $447.8M | $1.4B |
总债务HUBSZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
股东权益HUBSZS
| Q4 25 | $2.1B | $2.0B | ||
| Q3 25 | $1.9B | $1.8B | ||
| Q2 25 | $2.1B | $1.8B | ||
| Q1 25 | $2.0B | $1.6B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.6B | $1.1B | ||
| Q1 24 | $1.4B | $958.9M |
总资产HUBSZS
| Q4 25 | $3.9B | $6.5B | ||
| Q3 25 | $3.5B | $6.4B | ||
| Q2 25 | $3.7B | $5.3B | ||
| Q1 25 | $3.9B | $5.0B | ||
| Q4 24 | $3.8B | $4.7B | ||
| Q3 24 | $3.6B | $4.7B | ||
| Q2 24 | $3.4B | $4.2B | ||
| Q1 24 | $3.2B | $3.9B |
负债/权益比HUBSZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 1.19× |
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 | $448.3M |
| 自由现金流经营现金流 - 资本支出 | $234.0M | $431.0M |
| 自由现金流率自由现金流/营收 | 27.6% | 54.7% |
| 资本支出强度资本支出/营收 | 1.6% | 2.2% |
| 现金转化率经营现金流/净利润 | 4.55× | — |
| 过去12个月自由现金流最近4个季度 | $707.6M | $924.9M |
8季度趋势，按日历期对齐
经营现金流HUBSZS
| Q4 25 | $247.4M | $448.3M | ||
| Q3 25 | $187.4M | $250.6M | ||
| Q2 25 | $164.4M | $211.1M | ||
| Q1 25 | $161.6M | $179.4M | ||
| Q4 24 | $194.1M | $331.3M | ||
| Q3 24 | $159.5M | $203.6M | ||
| Q2 24 | $117.8M | $173.4M | ||
| Q1 24 | $127.1M | $142.1M |
自由现金流HUBSZS
| Q4 25 | $234.0M | $431.0M | ||
| Q3 25 | $177.0M | $190.6M | ||
| Q2 25 | $148.3M | $138.9M | ||
| Q1 25 | $148.2M | $164.4M | ||
| Q4 24 | $181.4M | $314.3M | ||
| Q3 24 | $148.4M | $154.2M | ||
| Q2 24 | $109.6M | $137.8M | ||
| Q1 24 | $121.2M | $111.2M |
自由现金流率HUBSZS
| Q4 25 | 27.6% | 54.7% | ||
| Q3 25 | 21.9% | 26.5% | ||
| Q2 25 | 19.5% | 20.5% | ||
| Q1 25 | 20.8% | 25.4% | ||
| Q4 24 | 25.8% | 50.1% | ||
| Q3 24 | 22.2% | 26.0% | ||
| Q2 24 | 17.2% | 24.9% | ||
| Q1 24 | 19.6% | 21.2% |
资本支出强度HUBSZS
| Q4 25 | 1.6% | 2.2% | ||
| Q3 25 | 1.3% | 8.3% | ||
| Q2 25 | 2.1% | 10.6% | ||
| Q1 25 | 1.9% | 2.3% | ||
| Q4 24 | 1.8% | 2.7% | ||
| Q3 24 | 1.7% | 8.3% | ||
| Q2 24 | 1.3% | 6.4% | ||
| Q1 24 | 1.0% | 5.9% |
现金转化率HUBSZS
| Q4 25 | 4.55× | — | ||
| Q3 25 | 11.33× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 38.96× | — | ||
| Q3 24 | 19.59× | — | ||
| Q2 24 | — | 9.07× | ||
| Q1 24 | 21.42× | — |
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% |
ZS
暂无分部数据
