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是德科技（KEYS）与Rocket Companies, Inc.（RKT）财务数据对比。点击上方公司名可切换其他公司
Rocket Companies, Inc.的季度营收约是是德科技的1.9倍（$2.7B vs $1.4B），是德科技净利率更高（16.4% vs 2.5%，领先13.9%），Rocket Companies, Inc.同比增速更快（52.2% vs 10.3%），是德科技自由现金流更多（$187.0M vs $-1.3B），过去两年Rocket Companies, Inc.的营收复合增速更高（39.5% vs 6.2%）
是德科技是一家美国企业，主营电子测试测量设备与软件的研发、生产业务。公司由安捷伦科技拆分而来，核心产品线继承自惠普测试测量部门上世纪60年代末至千禧年间开发的相关产品，后独立为现有品牌。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
KEYS vs RKT — 直观对比
营收规模更大
RKT
是对方的1.9倍
$1.4B
营收增速更快
RKT
高出41.9%
10.3%
净利率更高
KEYS
高出13.9%
2.5%
自由现金流更多
KEYS
多$1.5B
$-1.3B
两年增速更快
RKT
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.7B |
| 净利润 | $233.0M | $68.0M |
| 毛利率 | 61.2% | — |
| 营业利润率 | 15.3% | 6.3% |
| 净利率 | 16.4% | 2.5% |
| 营收同比 | 10.3% | 52.2% |
| 净利润同比 | 419.2% | 100.8% |
| 每股收益（稀释后） | $1.35 | $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KEYSRKT
| Q4 25 | $1.4B | $2.7B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.3B | $1.0B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.2B | $646.9M | ||
| Q2 24 | $1.2B | $1.3B | ||
| Q1 24 | $1.3B | $1.4B |
净利润KEYSRKT
| Q4 25 | $233.0M | $68.0M | ||
| Q3 25 | $191.0M | $-123.9M | ||
| Q2 25 | $257.0M | $-1.8M | ||
| Q1 25 | $169.0M | $-10.4M | ||
| Q4 24 | $-73.0M | $33.9M | ||
| Q3 24 | $389.0M | $-22.0M | ||
| Q2 24 | $126.0M | $1.3M | ||
| Q1 24 | $172.0M | $16.2M |
毛利率KEYSRKT
| Q4 25 | 61.2% | — | ||
| Q3 25 | 61.7% | — | ||
| Q2 25 | 62.3% | — | ||
| Q1 25 | 63.2% | — | ||
| Q4 24 | 62.3% | 58.9% | ||
| Q3 24 | 62.0% | -8.4% | ||
| Q2 24 | 62.7% | 47.4% | ||
| Q1 24 | 64.6% | 51.2% |
营业利润率KEYSRKT
| Q4 25 | 15.3% | 6.3% | ||
| Q3 25 | 17.3% | -11.5% | ||
| Q2 25 | 15.8% | 1.8% | ||
| Q1 25 | 16.8% | -21.5% | ||
| Q4 24 | 17.9% | 38.1% | ||
| Q3 24 | 16.8% | -76.9% | ||
| Q2 24 | 14.6% | 14.8% | ||
| Q1 24 | 17.6% | 21.6% |
净利率KEYSRKT
| Q4 25 | 16.4% | 2.5% | ||
| Q3 25 | 14.1% | -7.7% | ||
| Q2 25 | 19.7% | -0.1% | ||
| Q1 25 | 13.0% | -1.0% | ||
| Q4 24 | -5.7% | 1.9% | ||
| Q3 24 | 32.0% | -3.4% | ||
| Q2 24 | 10.4% | 0.1% | ||
| Q1 24 | 13.7% | 1.2% |
每股收益（稀释后）KEYSRKT
| Q4 25 | $1.35 | $0.10 | ||
| Q3 25 | $1.10 | $-0.06 | ||
| Q2 25 | $1.49 | $-0.01 | ||
| Q1 25 | $0.97 | $-0.08 | ||
| Q4 24 | $-0.41 | $0.28 | ||
| Q3 24 | $2.22 | $-0.19 | ||
| Q2 24 | $0.72 | $0.01 | ||
| Q1 24 | $0.98 | $0.11 |
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 | $1.9B | $2.7B |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $5.9B | $22.9B |
| 总资产 | $11.3B | $60.7B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资KEYSRKT
| Q4 25 | $1.9B | $2.7B | ||
| Q3 25 | $2.6B | $5.8B | ||
| Q2 25 | $3.1B | $5.1B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.6B | $1.2B | ||
| Q2 24 | $1.7B | $1.3B | ||
| Q1 24 | $1.7B | $861.4M |
总债务KEYSRKT
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.8B | — |
股东权益KEYSRKT
| Q4 25 | $5.9B | $22.9B | ||
| Q3 25 | $5.7B | $8.9B | ||
| Q2 25 | $5.5B | $7.4B | ||
| Q1 25 | $5.2B | $8.6B | ||
| Q4 24 | $5.1B | $9.0B | ||
| Q3 24 | $5.2B | $8.4B | ||
| Q2 24 | $4.9B | $8.8B | ||
| Q1 24 | $4.8B | $8.6B |
总资产KEYSRKT
| Q4 25 | $11.3B | $60.7B | ||
| Q3 25 | $10.7B | $33.6B | ||
| Q2 25 | $10.5B | $30.4B | ||
| Q1 25 | $9.4B | $25.3B | ||
| Q4 24 | $9.3B | $24.5B | ||
| Q3 24 | $9.3B | $25.1B | ||
| Q2 24 | $9.0B | $23.6B | ||
| Q1 24 | $9.1B | $22.2B |
负债/权益比KEYSRKT
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.38× | — |
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 | $225.0M | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $187.0M | $-1.3B |
| 自由现金流率自由现金流/营收 | 13.2% | -47.2% |
| 资本支出强度资本支出/营收 | 2.7% | 1.5% |
| 现金转化率经营现金流/净利润 | 0.97× | -18.08× |
| 过去12个月自由现金流最近4个季度 | $1.3B | $-4.0B |
8季度趋势，按日历期对齐
经营现金流KEYSRKT
| Q4 25 | $225.0M | $-1.2B | ||
| Q3 25 | $322.0M | $-50.3M | ||
| Q2 25 | $484.0M | $-1.9B | ||
| Q1 25 | $378.0M | $-797.0M | ||
| Q4 24 | $359.0M | $1.8B | ||
| Q3 24 | $255.0M | $-1.3B | ||
| Q2 24 | $110.0M | $-122.3M | ||
| Q1 24 | $328.0M | $-3.0B |
自由现金流KEYSRKT
| Q4 25 | $187.0M | $-1.3B | ||
| Q3 25 | $291.0M | $-71.8M | ||
| Q2 25 | $457.0M | $-1.9B | ||
| Q1 25 | $346.0M | $-811.0M | ||
| Q4 24 | $321.0M | $1.8B | ||
| Q3 24 | $222.0M | $-1.4B | ||
| Q2 24 | $74.0M | $-138.3M | ||
| Q1 24 | $281.0M | $-3.0B |
自由现金流率KEYSRKT
| Q4 25 | 13.2% | -47.2% | ||
| Q3 25 | 21.5% | -4.5% | ||
| Q2 25 | 35.0% | -137.2% | ||
| Q1 25 | 26.7% | -78.2% | ||
| Q4 24 | 24.9% | 103.1% | ||
| Q3 24 | 18.2% | -209.6% | ||
| Q2 24 | 6.1% | -10.6% | ||
| Q1 24 | 22.3% | -218.7% |
资本支出强度KEYSRKT
| Q4 25 | 2.7% | 1.5% | ||
| Q3 25 | 2.3% | 1.3% | ||
| Q2 25 | 2.1% | 1.1% | ||
| Q1 25 | 2.5% | 1.4% | ||
| Q4 24 | 3.0% | 1.1% | ||
| Q3 24 | 2.7% | 2.9% | ||
| Q2 24 | 3.0% | 1.2% | ||
| Q1 24 | 3.7% | 1.0% |
现金转化率KEYSRKT
| Q4 25 | 0.97× | -18.08× | ||
| Q3 25 | 1.69× | — | ||
| Q2 25 | 1.88× | — | ||
| Q1 25 | 2.24× | — | ||
| Q4 24 | — | 54.42× | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.87× | -94.46× | ||
| Q1 24 | 1.91× | -185.80× |
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
KEYS
| Transferred At Point In Time | $790.0M | 56% |
| Electronicindustrial | $429.0M | 30% |
| Transferred Over Time | $200.0M | 14% |
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
