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KADANT INC（KAI）与UiPath, Inc.（PATH）财务数据对比。点击上方公司名可切换其他公司
UiPath, Inc.的季度营收约是KADANT INC的1.5倍（$411.1M vs $271.6M），UiPath, Inc.净利率更高（48.4% vs 10.2%，领先38.2%），UiPath, Inc.同比增速更快（15.9% vs -0.0%），KADANT INC自由现金流更多（$44.1M vs $25.1M），过去两年KADANT INC的营收复合增速更高（6.7% vs 0.7%）
Kadant Inc.创立于1991年，最初是Thermo Electron的子公司，部分股权私有、部分公开交易，2001年完成完全分拆并启用现名。公司服务于造纸、废纸回收、木材加工、物料搬运等多个加工领域，是业务覆盖亚洲、欧洲、北美、南美的跨国企业。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
KAI vs PATH — 直观对比
营收规模更大
PATH
是对方的1.5倍
$271.6M
营收增速更快
PATH
高出15.9%
-0.0%
净利率更高
PATH
高出38.2%
10.2%
自由现金流更多
KAI
多$19.0M
$25.1M
两年增速更快
KAI
近两年复合增速
0.7%
损益表 — Q3 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $271.6M | $411.1M |
| 净利润 | $27.7M | $198.8M |
| 毛利率 | 45.2% | 83.3% |
| 营业利润率 | 15.7% | 3.2% |
| 净利率 | 10.2% | 48.4% |
| 营收同比 | -0.0% | 15.9% |
| 净利润同比 | -12.2% | 1966.2% |
| 每股收益（稀释后） | $2.35 | $0.37 |
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KAIPATH
| Q4 25 | — | $411.1M | ||
| Q3 25 | $271.6M | $361.7M | ||
| Q2 25 | $255.3M | $356.6M | ||
| Q1 25 | $239.2M | $423.6M | ||
| Q4 24 | $258.0M | $354.7M | ||
| Q3 24 | $271.6M | $316.3M | ||
| Q2 24 | $274.8M | $335.1M | ||
| Q1 24 | $249.0M | $405.3M |
净利润KAIPATH
| Q4 25 | — | $198.8M | ||
| Q3 25 | $27.7M | $1.6M | ||
| Q2 25 | $26.2M | $-22.6M | ||
| Q1 25 | $24.1M | $51.8M | ||
| Q4 24 | $24.0M | $-10.7M | ||
| Q3 24 | $31.6M | $-86.1M | ||
| Q2 24 | $31.3M | $-28.7M | ||
| Q1 24 | $24.7M | $33.9M |
毛利率KAIPATH
| Q4 25 | — | 83.3% | ||
| Q3 25 | 45.2% | 82.2% | ||
| Q2 25 | 45.9% | 82.1% | ||
| Q1 25 | 46.1% | 84.8% | ||
| Q4 24 | 43.4% | 82.0% | ||
| Q3 24 | 44.7% | 80.0% | ||
| Q2 24 | 44.4% | 83.5% | ||
| Q1 24 | 44.6% | 86.8% |
营业利润率KAIPATH
| Q4 25 | — | 3.2% | ||
| Q3 25 | 15.7% | -5.6% | ||
| Q2 25 | 15.4% | -4.6% | ||
| Q1 25 | 14.9% | 7.9% | ||
| Q4 24 | 14.3% | -12.2% | ||
| Q3 24 | 18.0% | -32.7% | ||
| Q2 24 | 17.6% | -14.8% | ||
| Q1 24 | 14.8% | 3.7% |
净利率KAIPATH
| Q4 25 | — | 48.4% | ||
| Q3 25 | 10.2% | 0.4% | ||
| Q2 25 | 10.2% | -6.3% | ||
| Q1 25 | 10.1% | 12.2% | ||
| Q4 24 | 9.3% | -3.0% | ||
| Q3 24 | 11.6% | -27.2% | ||
| Q2 24 | 11.4% | -8.6% | ||
| Q1 24 | 9.9% | 8.4% |
每股收益（稀释后）KAIPATH
| Q4 25 | — | $0.37 | ||
| Q3 25 | $2.35 | $0.00 | ||
| Q2 25 | $2.22 | $-0.04 | ||
| Q1 25 | $2.04 | $0.09 | ||
| Q4 24 | $2.04 | $-0.02 | ||
| Q3 24 | $2.68 | $-0.15 | ||
| Q2 24 | $2.66 | $-0.05 | ||
| Q1 24 | $2.10 | $0.07 |
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 | $124.5M | $1.4B |
| 总债务越低越好 | $254.6M | — |
| 股东权益账面价值 | $949.8M | $1.9B |
| 总资产 | $1.5B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资KAIPATH
| Q4 25 | — | $1.4B | ||
| Q3 25 | $124.5M | $1.4B | ||
| Q2 25 | $95.3M | $1.6B | ||
| Q1 25 | $91.7M | $1.6B | ||
| Q4 24 | $94.7M | $1.6B | ||
| Q3 24 | $88.4M | $1.7B | ||
| Q2 24 | $73.8M | $1.9B | ||
| Q1 24 | $81.4M | $1.9B |
总债务KAIPATH
| Q4 25 | — | — | ||
| Q3 25 | $254.6M | — | ||
| Q2 25 | $245.7M | — | ||
| Q1 25 | $273.5M | — | ||
| Q4 24 | $285.2M | — | ||
| Q3 24 | $323.2M | — | ||
| Q2 24 | $342.0M | — | ||
| Q1 24 | $306.8M | — |
股东权益KAIPATH
| Q4 25 | — | $1.9B | ||
| Q3 25 | $949.8M | $1.7B | ||
| Q2 25 | $926.0M | $1.7B | ||
| Q1 25 | $876.0M | $1.8B | ||
| Q4 24 | $847.1M | $1.7B | ||
| Q3 24 | $851.7M | $1.8B | ||
| Q2 24 | $807.7M | $2.0B | ||
| Q1 24 | $782.7M | $2.0B |
总资产KAIPATH
| Q4 25 | — | $2.9B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.4B | $2.9B | ||
| Q4 24 | $1.4B | $2.7B | ||
| Q3 24 | $1.5B | $2.7B | ||
| Q2 24 | $1.5B | $2.8B | ||
| Q1 24 | $1.4B | $3.0B |
负债/权益比KAIPATH
| Q4 25 | — | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | 0.31× | — | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | 0.42× | — | ||
| Q1 24 | 0.39× | — |
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 | $47.3M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $44.1M | $25.1M |
| 自由现金流率自由现金流/营收 | 16.2% | 6.1% |
| 资本支出强度资本支出/营收 | 1.2% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.70× | 0.14× |
| 过去12个月自由现金流最近4个季度 | $145.9M | — |
8季度趋势，按日历期对齐
经营现金流KAIPATH
| Q4 25 | — | $28.3M | ||
| Q3 25 | $47.3M | $41.6M | ||
| Q2 25 | $40.5M | $119.0M | ||
| Q1 25 | $22.8M | $146.1M | ||
| Q4 24 | $51.9M | $28.1M | ||
| Q3 24 | $52.5M | $46.4M | ||
| Q2 24 | $28.1M | $100.0M | ||
| Q1 24 | $22.8M | $145.6M |
自由现金流KAIPATH
| Q4 25 | — | $25.1M | ||
| Q3 25 | $44.1M | — | ||
| Q2 25 | $36.5M | $106.2M | ||
| Q1 25 | $19.0M | $138.7M | ||
| Q4 24 | $46.3M | $23.2M | ||
| Q3 24 | $48.3M | $45.0M | ||
| Q2 24 | $23.1M | $98.8M | ||
| Q1 24 | $16.6M | $141.8M |
自由现金流率KAIPATH
| Q4 25 | — | 6.1% | ||
| Q3 25 | 16.2% | — | ||
| Q2 25 | 14.3% | 29.8% | ||
| Q1 25 | 7.9% | 32.7% | ||
| Q4 24 | 17.9% | 6.5% | ||
| Q3 24 | 17.8% | 14.2% | ||
| Q2 24 | 8.4% | 29.5% | ||
| Q1 24 | 6.7% | 35.0% |
资本支出强度KAIPATH
| Q4 25 | — | 0.8% | ||
| Q3 25 | 1.2% | 0.0% | ||
| Q2 25 | 1.6% | 3.6% | ||
| Q1 25 | 1.6% | 1.7% | ||
| Q4 24 | 2.2% | 1.4% | ||
| Q3 24 | 1.5% | 0.4% | ||
| Q2 24 | 1.8% | 0.4% | ||
| Q1 24 | 2.5% | 0.9% |
现金转化率KAIPATH
| Q4 25 | — | 0.14× | ||
| Q3 25 | 1.70× | 26.25× | ||
| Q2 25 | 1.55× | — | ||
| Q1 25 | 0.95× | 2.82× | ||
| Q4 24 | 2.16× | — | ||
| Q3 24 | 1.66× | — | ||
| Q2 24 | 0.90× | — | ||
| Q1 24 | 0.92× | 4.29× |
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
KAI
| Flow Control | $94.8M | 35% |
| Capital | $83.2M | 31% |
| Material Handling Systems | $70.3M | 26% |
| Transferred Over Time | $17.1M | 6% |
| Other | $6.1M | 2% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
