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LendingClub Corp（LC）与SLM Corp（SLM）财务数据对比。点击上方公司名可切换其他公司
SLM Corp的季度营收约是LendingClub Corp的2.1倍（$560.0M vs $266.5M）。过去两年SLM Corp的营收复合增速更高（22.7% vs 21.4%）
LendingClub Corp是总部位于美国加利福尼亚州旧金山的金融服务企业，是全球首家将旗下产品作为证券完成注册的P2P借贷平台，同时支持贷款在二级市场交易。巅峰时期它是全球规模最大的P2P借贷平台，截至2015年12月31日，平台累计促成贷款发放额达159.8亿美元。
尼康旗下SLM Solutions AG总部位于德国吕贝克，是金属3D打印机领域的上市生产商，共同拥有SLM文字商标，集团股份自2014年5月9日起在法兰克福证券交易所高级市场板块挂牌交易。
LC vs SLM — 直观对比
营收规模更大
SLM
是对方的2.1倍
$266.5M
两年增速更快
SLM
近两年复合增速
21.4%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $266.5M | $560.0M |
| 净利润 | — | $308.0M |
| 毛利率 | — | — |
| 营业利润率 | 18.8% | — |
| 净利率 | — | 55.0% |
| 营收同比 | 22.7% | — |
| 净利润同比 | — | 1.0% |
| 每股收益（稀释后） | $0.36 | $1.54 |
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LCSLM
| Q1 26 | — | $560.0M | ||
| Q4 25 | $266.5M | $377.1M | ||
| Q3 25 | $266.2M | $373.0M | ||
| Q2 25 | $248.4M | $376.8M | ||
| Q1 25 | $217.7M | $375.0M | ||
| Q4 24 | $217.2M | $362.2M | ||
| Q3 24 | $201.9M | $359.4M | ||
| Q2 24 | $187.2M | $372.2M |
净利润LCSLM
| Q1 26 | — | $308.0M | ||
| Q4 25 | — | $233.2M | ||
| Q3 25 | $44.3M | $135.8M | ||
| Q2 25 | $38.2M | $71.3M | ||
| Q1 25 | $11.7M | $304.5M | ||
| Q4 24 | — | $111.6M | ||
| Q3 24 | $14.5M | $-45.2M | ||
| Q2 24 | $14.9M | $252.0M |
营业利润率LCSLM
| Q1 26 | — | — | ||
| Q4 25 | 18.8% | 83.8% | ||
| Q3 25 | 21.5% | 49.8% | ||
| Q2 25 | 21.7% | 23.3% | ||
| Q1 25 | 7.2% | — | ||
| Q4 24 | 5.1% | 36.5% | ||
| Q3 24 | 8.9% | -16.6% | ||
| Q2 24 | 10.4% | 91.0% |
净利率LCSLM
| Q1 26 | — | 55.0% | ||
| Q4 25 | — | 61.8% | ||
| Q3 25 | 16.6% | 36.4% | ||
| Q2 25 | 15.4% | 18.9% | ||
| Q1 25 | 5.4% | 81.2% | ||
| Q4 24 | — | 30.8% | ||
| Q3 24 | 7.2% | -12.6% | ||
| Q2 24 | 8.0% | 67.7% |
每股收益（稀释后）LCSLM
| Q1 26 | — | $1.54 | ||
| Q4 25 | $0.36 | $1.11 | ||
| Q3 25 | $0.37 | $0.63 | ||
| Q2 25 | $0.33 | $0.32 | ||
| Q1 25 | $0.10 | $1.40 | ||
| Q4 24 | $0.08 | $0.53 | ||
| Q3 24 | $0.13 | $-0.23 | ||
| Q2 24 | $0.13 | $1.11 |
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 | — | $5.2B |
| 总债务越低越好 | $0 | $6.2B |
| 股东权益账面价值 | $1.5B | $2.4B |
| 总资产 | $11.6B | $29.4B |
| 负债/权益比越低杠杆越低 | 0.00× | 2.53× |
8季度趋势，按日历期对齐
现金及短期投资LCSLM
| Q1 26 | — | $5.2B | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $4.1B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $4.7B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $5.3B |
总债务LCSLM
| Q1 26 | — | $6.2B | ||
| Q4 25 | $0 | $5.4B | ||
| Q3 25 | $0 | $6.8B | ||
| Q2 25 | $0 | $6.4B | ||
| Q1 25 | $0 | $6.1B | ||
| Q4 24 | $0 | $6.4B | ||
| Q3 24 | — | $6.0B | ||
| Q2 24 | — | $5.4B |
股东权益LCSLM
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.5B | $2.5B | ||
| Q3 25 | $1.5B | $2.3B | ||
| Q2 25 | $1.4B | $2.4B | ||
| Q1 25 | $1.4B | $2.4B | ||
| Q4 24 | $1.3B | $2.2B | ||
| Q3 24 | $1.3B | $2.1B | ||
| Q2 24 | $1.3B | $2.3B |
总资产LCSLM
| Q1 26 | — | $29.4B | ||
| Q4 25 | $11.6B | $29.7B | ||
| Q3 25 | $11.1B | $29.6B | ||
| Q2 25 | $10.8B | $29.6B | ||
| Q1 25 | $10.5B | $28.9B | ||
| Q4 24 | $10.6B | $30.1B | ||
| Q3 24 | $11.0B | $30.0B | ||
| Q2 24 | $9.6B | $28.8B |
负债/权益比LCSLM
| Q1 26 | — | 2.53× | ||
| Q4 25 | 0.00× | 2.19× | ||
| Q3 25 | 0.00× | 2.92× | ||
| Q2 25 | 0.00× | 2.70× | ||
| Q1 25 | 0.00× | 2.56× | ||
| Q4 24 | 0.00× | 2.98× | ||
| Q3 24 | — | 2.83× | ||
| Q2 24 | — | 2.37× |
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 | $-903.8M | — |
| 自由现金流经营现金流 - 资本支出 | $-919.3M | — |
| 自由现金流率自由现金流/营收 | -345.0% | — |
| 资本支出强度资本支出/营收 | 5.8% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-2.9B | — |
8季度趋势，按日历期对齐
经营现金流LCSLM
| Q1 26 | — | — | ||
| Q4 25 | $-903.8M | $-64.5M | ||
| Q3 25 | $-770.8M | $-49.3M | ||
| Q2 25 | $-713.1M | $-138.7M | ||
| Q1 25 | $-339.3M | $-146.1M | ||
| Q4 24 | $-185.4M | $4.5M | ||
| Q3 24 | $-669.8M | $-113.4M | ||
| Q2 24 | $-932.5M | $-143.8M |
自由现金流LCSLM
| Q1 26 | — | — | ||
| Q4 25 | $-919.3M | — | ||
| Q3 25 | $-791.8M | — | ||
| Q2 25 | $-803.8M | — | ||
| Q1 25 | $-352.3M | — | ||
| Q4 24 | $-202.6M | — | ||
| Q3 24 | $-682.3M | — | ||
| Q2 24 | $-945.3M | — |
自由现金流率LCSLM
| Q1 26 | — | — | ||
| Q4 25 | -345.0% | — | ||
| Q3 25 | -297.4% | — | ||
| Q2 25 | -323.5% | — | ||
| Q1 25 | -161.8% | — | ||
| Q4 24 | -93.3% | — | ||
| Q3 24 | -338.0% | — | ||
| Q2 24 | -504.9% | — |
资本支出强度LCSLM
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | — | ||
| Q3 25 | 7.9% | — | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | 6.9% | — |
现金转化率LCSLM
| Q1 26 | — | — | ||
| Q4 25 | — | -0.28× | ||
| Q3 25 | -17.41× | -0.36× | ||
| Q2 25 | -18.68× | -1.95× | ||
| Q1 25 | -29.07× | -0.48× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | -46.33× | — | ||
| Q2 24 | -62.57× | -0.57× |
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
LC
| Lending Club Bank | $162.8M | 61% |
| Other | $82.3M | 31% |
| Servicing Fees | $12.8M | 5% |
| Lending Club Corporation | $8.5M | 3% |
SLM
| Net Interest Income | $375.0M | 67% |
| Noninterest Income | $185.0M | 33% |
