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LifeStance Health Group, Inc.（LFST）与Paycom（PAYC）财务数据对比。点击上方公司名可切换其他公司
Paycom的季度营收约是LifeStance Health Group, Inc.的1.4倍（$544.3M vs $382.2M），Paycom净利率更高（20.9% vs 3.1%，领先17.9%），LifeStance Health Group, Inc.同比增速更快（17.4% vs 10.2%），Paycom自由现金流更多（$122.6M vs $46.6M），过去两年LifeStance Health Group, Inc.的营收复合增速更高（12.8% vs 4.3%）
LifeStance Health Group是美国的门诊行为健康服务提供商，支持线下面诊与远程诊疗两种服务模式，业务涵盖心理咨询、精神科诊疗、经颅磁刺激（TMS）以及氯胺酮治疗等。该公司曾多次因劳动违规、客户信息泄露及误导投资者相关问题遭遇诉讼。
Paycom Software Inc.（简称Paycom）是1998年成立的线上薪资与人力资源软件服务商，总部位于美国俄克拉荷马城，在全美多地设有办事处，是全球最早推出全线上薪资管理服务的供应商之一，2025年营收达20.52亿美元，较2024年的18.83亿美元稳步增长。
LFST vs PAYC — 直观对比
营收规模更大
PAYC
是对方的1.4倍
$382.2M
营收增速更快
LFST
高出7.2%
10.2%
净利率更高
PAYC
高出17.9%
3.1%
自由现金流更多
PAYC
多$76.0M
$46.6M
两年增速更快
LFST
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $382.2M | $544.3M |
| 净利润 | $11.7M | $113.8M |
| 毛利率 | — | 83.9% |
| 营业利润率 | 4.7% | 28.9% |
| 净利率 | 3.1% | 20.9% |
| 营收同比 | 17.4% | 10.2% |
| 净利润同比 | 264.1% | 0.2% |
| 每股收益（稀释后） | — | $2.06 |
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LFSTPAYC
| Q4 25 | $382.2M | $544.3M | ||
| Q3 25 | $363.8M | $493.3M | ||
| Q2 25 | $345.3M | $483.6M | ||
| Q1 25 | $333.0M | $530.5M | ||
| Q4 24 | $325.5M | $493.9M | ||
| Q3 24 | $312.7M | $451.9M | ||
| Q2 24 | $312.3M | $437.5M | ||
| Q1 24 | $300.4M | $499.9M |
净利润LFSTPAYC
| Q4 25 | $11.7M | $113.8M | ||
| Q3 25 | $1.1M | $110.7M | ||
| Q2 25 | $-3.8M | $89.5M | ||
| Q1 25 | $709.0K | $139.4M | ||
| Q4 24 | $-7.1M | $113.6M | ||
| Q3 24 | $-6.0M | $73.3M | ||
| Q2 24 | $-23.3M | $68.0M | ||
| Q1 24 | $-21.1M | $247.2M |
毛利率LFSTPAYC
| Q4 25 | — | 83.9% | ||
| Q3 25 | — | 82.7% | ||
| Q2 25 | — | 81.9% | ||
| Q1 25 | — | 84.1% | ||
| Q4 24 | — | 83.1% | ||
| Q3 24 | — | 80.5% | ||
| Q2 24 | — | 80.8% | ||
| Q1 24 | — | 84.3% |
营业利润率LFSTPAYC
| Q4 25 | 4.7% | 28.9% | ||
| Q3 25 | 2.0% | 22.8% | ||
| Q2 25 | -0.9% | 23.2% | ||
| Q1 25 | 0.5% | 34.9% | ||
| Q4 24 | 0.3% | 30.1% | ||
| Q3 24 | 0.0% | 23.2% | ||
| Q2 24 | -5.1% | 21.7% | ||
| Q1 24 | -5.6% | 57.2% |
净利率LFSTPAYC
| Q4 25 | 3.1% | 20.9% | ||
| Q3 25 | 0.3% | 22.4% | ||
| Q2 25 | -1.1% | 18.5% | ||
| Q1 25 | 0.2% | 26.3% | ||
| Q4 24 | -2.2% | 23.0% | ||
| Q3 24 | -1.9% | 16.2% | ||
| Q2 24 | -7.5% | 15.5% | ||
| Q1 24 | -7.0% | 49.4% |
每股收益（稀释后）LFSTPAYC
| Q4 25 | — | $2.06 | ||
| Q3 25 | — | $1.96 | ||
| Q2 25 | — | $1.58 | ||
| Q1 25 | — | $2.48 | ||
| Q4 24 | — | $2.04 | ||
| Q3 24 | — | $1.31 | ||
| Q2 24 | — | $1.20 | ||
| Q1 24 | — | $4.37 |
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 | $248.6M | $370.0M |
| 总债务越低越好 | $282.8M | — |
| 股东权益账面价值 | $1.5B | $1.7B |
| 总资产 | $2.2B | $7.6B |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
现金及短期投资LFSTPAYC
| Q4 25 | $248.6M | $370.0M | ||
| Q3 25 | $203.9M | $375.0M | ||
| Q2 25 | $188.9M | $532.2M | ||
| Q1 25 | $134.3M | $520.8M | ||
| Q4 24 | $154.6M | $402.0M | ||
| Q3 24 | $102.6M | $325.8M | ||
| Q2 24 | $87.0M | $346.5M | ||
| Q1 24 | $49.5M | $371.3M |
总债务LFSTPAYC
| Q4 25 | $282.8M | — | ||
| Q3 25 | $284.6M | — | ||
| Q2 25 | $286.4M | — | ||
| Q1 25 | $288.2M | — | ||
| Q4 24 | $290.0M | — | ||
| Q3 24 | $287.3M | — | ||
| Q2 24 | $288.0M | — | ||
| Q1 24 | $288.8M | — |
股东权益LFSTPAYC
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.5B | $1.8B | ||
| Q1 25 | $1.5B | $1.7B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | $1.4B | $1.4B |
总资产LFSTPAYC
| Q4 25 | $2.2B | $7.6B | ||
| Q3 25 | $2.1B | $4.2B | ||
| Q2 25 | $2.1B | $4.0B | ||
| Q1 25 | $2.1B | $4.6B | ||
| Q4 24 | $2.1B | $5.9B | ||
| Q3 24 | $2.1B | $3.5B | ||
| Q2 24 | $2.1B | $4.3B | ||
| Q1 24 | $2.1B | $4.7B |
负债/权益比LFSTPAYC
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | 0.19× | — | ||
| Q1 25 | 0.20× | — | ||
| Q4 24 | 0.20× | — | ||
| Q3 24 | 0.20× | — | ||
| Q2 24 | 0.20× | — | ||
| Q1 24 | 0.20× | — |
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 | $57.6M | $196.1M |
| 自由现金流经营现金流 - 资本支出 | $46.6M | $122.6M |
| 自由现金流率自由现金流/营收 | 12.2% | 22.5% |
| 资本支出强度资本支出/营收 | 2.9% | 13.5% |
| 现金转化率经营现金流/净利润 | 4.93× | 1.72× |
| 过去12个月自由现金流最近4个季度 | $110.0M | $408.0M |
8季度趋势，按日历期对齐
经营现金流LFSTPAYC
| Q4 25 | $57.6M | $196.1M | ||
| Q3 25 | $27.3M | $177.8M | ||
| Q2 25 | $64.4M | $122.5M | ||
| Q1 25 | $-3.1M | $182.5M | ||
| Q4 24 | $62.3M | $160.4M | ||
| Q3 24 | $22.7M | $92.8M | ||
| Q2 24 | $44.1M | $132.1M | ||
| Q1 24 | $-21.8M | $148.6M |
自由现金流LFSTPAYC
| Q4 25 | $46.6M | $122.6M | ||
| Q3 25 | $17.0M | $79.8M | ||
| Q2 25 | $56.6M | $60.8M | ||
| Q1 25 | $-10.3M | $144.8M | ||
| Q4 24 | $56.0M | $109.0M | ||
| Q3 24 | $17.7M | $44.6M | ||
| Q2 24 | $39.0M | $86.5M | ||
| Q1 24 | $-26.9M | $100.9M |
自由现金流率LFSTPAYC
| Q4 25 | 12.2% | 22.5% | ||
| Q3 25 | 4.7% | 16.2% | ||
| Q2 25 | 16.4% | 12.6% | ||
| Q1 25 | -3.1% | 27.3% | ||
| Q4 24 | 17.2% | 22.1% | ||
| Q3 24 | 5.7% | 9.9% | ||
| Q2 24 | 12.5% | 19.8% | ||
| Q1 24 | -9.0% | 20.2% |
资本支出强度LFSTPAYC
| Q4 25 | 2.9% | 13.5% | ||
| Q3 25 | 2.8% | 19.9% | ||
| Q2 25 | 2.2% | 12.8% | ||
| Q1 25 | 2.2% | 7.1% | ||
| Q4 24 | 1.9% | 10.4% | ||
| Q3 24 | 1.6% | 10.7% | ||
| Q2 24 | 1.6% | 10.4% | ||
| Q1 24 | 1.7% | 9.5% |
现金转化率LFSTPAYC
| Q4 25 | 4.93× | 1.72× | ||
| Q3 25 | 25.34× | 1.61× | ||
| Q2 25 | — | 1.37× | ||
| Q1 25 | -4.36× | 1.31× | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | — | 1.94× | ||
| Q1 24 | — | 0.60× |
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
LFST
暂无分部数据
PAYC
| Recurring | $510.3M | 94% |
| Interest On Funds Held For Clients | $27.2M | 5% |
| Implementation And Other | $6.8M | 1% |
