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勤达睿（KD）与Waystar Holding Corp.（WAY）财务数据对比。点击上方公司名可切换其他公司
勤达睿的季度营收约是Waystar Holding Corp.的12.7倍（$3.9B vs $303.5M）。Waystar Holding Corp.净利率更高（6.6% vs 1.5%，领先5.1%）。Waystar Holding Corp.同比增速更快（24.3% vs 3.1%）。勤达睿自由现金流更多（$208.0M vs $57.2M）。过去两年Waystar Holding Corp.的营收复合增速更高（16.2% vs 0.1%）
勤达睿是总部位于美国纽约的跨国IT基础设施服务提供商，2021年由IBM的基础设施服务业务分拆独立成立。公司业务涵盖大型信息系统的设计、搭建、运维与开发，同时提供商业咨询服务，是目前全球最大的IT基础设施服务提供商、全球第五大咨询服务提供商。
Waystar Holding Corp是一家领先的医疗健康支付与营收周期管理解决方案提供商，服务覆盖美国各地的医疗机构、医疗系统和支付方，旗下工具可简化账单处理、理赔申请、患者缴费流程，帮助医疗机构降低行政负担、优化营收表现。
KD vs WAY — 直观对比
营收规模更大
KD
是对方的12.7倍
$303.5M
营收增速更快
WAY
高出21.3%
3.1%
净利率更高
WAY
高出5.1%
1.5%
自由现金流更多
KD
多$150.8M
$57.2M
两年增速更快
WAY
近两年复合增速
0.1%
损益表 — Q3 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $303.5M |
| 净利润 | $57.0M | $20.0M |
| 毛利率 | 21.8% | — |
| 营业利润率 | 2.4% | 19.4% |
| 净利率 | 1.5% | 6.6% |
| 营收同比 | 3.1% | 24.3% |
| 净利润同比 | -73.5% | 4.8% |
| 每股收益（稀释后） | $0.25 | $0.10 |
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KDWAY
| Q4 25 | $3.9B | $303.5M | ||
| Q3 25 | $3.7B | $268.7M | ||
| Q2 25 | $3.7B | $270.7M | ||
| Q1 25 | $3.8B | $256.4M | ||
| Q4 24 | $3.7B | $244.1M | ||
| Q3 24 | $3.8B | $240.1M | ||
| Q2 24 | $3.7B | $234.5M | ||
| Q1 24 | $3.9B | $224.8M |
净利润KDWAY
| Q4 25 | $57.0M | $20.0M | ||
| Q3 25 | $68.0M | $30.6M | ||
| Q2 25 | $56.0M | $32.2M | ||
| Q1 25 | $69.0M | $29.3M | ||
| Q4 24 | $215.0M | $19.1M | ||
| Q3 24 | $-43.0M | $5.4M | ||
| Q2 24 | $11.0M | $-27.7M | ||
| Q1 24 | $-45.0M | $-15.9M |
毛利率KDWAY
| Q4 25 | 21.8% | — | ||
| Q3 25 | 21.5% | — | ||
| Q2 25 | 21.3% | — | ||
| Q1 25 | 21.7% | — | ||
| Q4 24 | 20.4% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 21.5% | — | ||
| Q1 24 | 18.6% | — |
营业利润率KDWAY
| Q4 25 | 2.4% | 19.4% | ||
| Q3 25 | 2.6% | 22.4% | ||
| Q2 25 | 2.5% | 24.0% | ||
| Q1 25 | 3.1% | 25.4% | ||
| Q4 24 | 6.9% | 21.8% | ||
| Q3 24 | -0.1% | 11.3% | ||
| Q2 24 | 1.7% | 3.5% | ||
| Q1 24 | -0.1% | 15.7% |
净利率KDWAY
| Q4 25 | 1.5% | 6.6% | ||
| Q3 25 | 1.8% | 11.4% | ||
| Q2 25 | 1.5% | 11.9% | ||
| Q1 25 | 1.8% | 11.4% | ||
| Q4 24 | 5.7% | 7.8% | ||
| Q3 24 | -1.1% | 2.3% | ||
| Q2 24 | 0.3% | -11.8% | ||
| Q1 24 | -1.2% | -7.1% |
每股收益（稀释后）KDWAY
| Q4 25 | $0.25 | $0.10 | ||
| Q3 25 | $0.29 | $0.17 | ||
| Q2 25 | $0.23 | $0.18 | ||
| Q1 25 | $0.30 | $0.16 | ||
| Q4 24 | $0.89 | $0.18 | ||
| Q3 24 | $-0.19 | $0.03 | ||
| Q2 24 | $0.05 | $-0.21 | ||
| Q1 24 | $-0.19 | $-0.13 |
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 | $1.3B | $61.4M |
| 总债务越低越好 | $2.3B | $1.5B |
| 股东权益账面价值 | $1.2B | $3.9B |
| 总资产 | $11.3B | $5.8B |
| 负债/权益比越低杠杆越低 | 1.92× | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资KDWAY
| Q4 25 | $1.3B | $61.4M | ||
| Q3 25 | $1.3B | $421.1M | ||
| Q2 25 | $1.5B | $290.3M | ||
| Q1 25 | $1.8B | $224.0M | ||
| Q4 24 | $1.5B | $182.1M | ||
| Q3 24 | $1.3B | $127.1M | ||
| Q2 24 | $1.3B | $68.4M | ||
| Q1 24 | $1.6B | $57.3M |
总债务KDWAY
| Q4 25 | $2.3B | $1.5B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.1B | $1.2B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $3.1B | — |
股东权益KDWAY
| Q4 25 | $1.2B | $3.9B | ||
| Q3 25 | $1.2B | $3.2B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $1.2B | $3.1B | ||
| Q4 24 | $1.1B | $3.1B | ||
| Q3 24 | $1.1B | $3.1B | ||
| Q2 24 | $996.0M | $2.9B | ||
| Q1 24 | $1.0B | $2.0B |
总资产KDWAY
| Q4 25 | $11.3B | $5.8B | ||
| Q3 25 | $11.2B | $4.7B | ||
| Q2 25 | $11.5B | $4.7B | ||
| Q1 25 | $10.5B | $4.6B | ||
| Q4 24 | $9.9B | $4.6B | ||
| Q3 24 | $10.4B | $4.5B | ||
| Q2 24 | $10.2B | $4.6B | ||
| Q1 24 | $10.6B | — |
负债/权益比KDWAY
| Q4 25 | 1.92× | 0.38× | ||
| Q3 25 | 2.45× | — | ||
| Q2 25 | 2.44× | — | ||
| Q1 25 | 2.50× | — | ||
| Q4 24 | 2.81× | 0.40× | ||
| Q3 24 | 2.92× | — | ||
| Q2 24 | 3.12× | — | ||
| Q1 24 | 3.07× | — |
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 | $428.0M | $66.6M |
| 自由现金流经营现金流 - 资本支出 | $208.0M | $57.2M |
| 自由现金流率自由现金流/营收 | 5.4% | 18.9% |
| 资本支出强度资本支出/营收 | 5.7% | 3.1% |
| 现金转化率经营现金流/净利润 | 7.51× | 3.33× |
| 过去12个月自由现金流最近4个季度 | $299.0M | $283.2M |
8季度趋势，按日历期对齐
经营现金流KDWAY
| Q4 25 | $428.0M | $66.6M | ||
| Q3 25 | $146.0M | $82.0M | ||
| Q2 25 | $-124.0M | $96.8M | ||
| Q1 25 | $581.0M | $64.2M | ||
| Q4 24 | $260.0M | — | ||
| Q3 24 | $149.0M | $78.8M | ||
| Q2 24 | $-48.0M | $15.4M | ||
| Q1 24 | $145.0M | $10.7M |
自由现金流KDWAY
| Q4 25 | $208.0M | $57.2M | ||
| Q3 25 | $17.0M | $76.2M | ||
| Q2 25 | $-267.0M | $91.0M | ||
| Q1 25 | $341.0M | $58.8M | ||
| Q4 24 | $151.0M | — | ||
| Q3 24 | $15.0M | $70.2M | ||
| Q2 24 | $-170.0M | $8.6M | ||
| Q1 24 | $-57.0M | $5.2M |
自由现金流率KDWAY
| Q4 25 | 5.4% | 18.9% | ||
| Q3 25 | 0.5% | 28.3% | ||
| Q2 25 | -7.1% | 33.6% | ||
| Q1 25 | 9.0% | 22.9% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 0.4% | 29.2% | ||
| Q2 24 | -4.5% | 3.7% | ||
| Q1 24 | -1.5% | 2.3% |
资本支出强度KDWAY
| Q4 25 | 5.7% | 3.1% | ||
| Q3 25 | 3.5% | 2.2% | ||
| Q2 25 | 3.8% | 2.1% | ||
| Q1 25 | 6.3% | 2.1% | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 3.6% | 3.6% | ||
| Q2 24 | 3.3% | 2.9% | ||
| Q1 24 | 5.2% | 2.5% |
现金转化率KDWAY
| Q4 25 | 7.51× | 3.33× | ||
| Q3 25 | 2.15× | 2.68× | ||
| Q2 25 | -2.21× | 3.01× | ||
| Q1 25 | 8.42× | 2.20× | ||
| Q4 24 | 1.21× | — | ||
| Q3 24 | — | 14.56× | ||
| Q2 24 | -4.36× | — | ||
| Q1 24 | — | — |
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
KD
| Principal Markets Segment | $1.4B | 37% |
| United States Segment | $958.0M | 25% |
| Strategic Markets Segment | $905.0M | 23% |
| Other | $568.0M | 15% |
WAY
| Subscription And Circulation | $167.8M | 55% |
| Volume Based Revenue | $134.2M | 44% |
| Implementation Services And Other Revenue | $1.5M | 1% |
