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LifeStance Health Group, Inc.（LFST）与Tradeweb Markets Inc.（TW）财务数据对比。点击上方公司名可切换其他公司
Tradeweb Markets Inc.的季度营收约是LifeStance Health Group, Inc.的1.6倍（$617.8M vs $382.2M），Tradeweb Markets Inc.净利率更高（37.7% vs 3.1%，领先34.7%），Tradeweb Markets Inc.同比增速更快（21.2% vs 17.4%），LifeStance Health Group, Inc.自由现金流更多（$46.6M vs $2.0M），过去两年Tradeweb Markets Inc.的营收复合增速更高（23.5% vs 12.8%）
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。
Tradeweb Markets Inc.总部位于美国纽约，运营面向机构投资者的电子交易平台，支持固定收益产品、ETF及衍生品交易，服务覆盖银行、资管机构、央行、养老基金、保险公司等超3000家客户。2024年其83%营收来自交易手续费及佣金，17%来自订阅费，52%营收来自利率相关产品。
LFST vs TW — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $382.2M | $617.8M |
| 净利润 | $11.7M | $233.2M |
| 毛利率 | — | — |
| 营业利润率 | 4.7% | 46.5% |
| 净利率 | 3.1% | 37.7% |
| 营收同比 | 17.4% | 21.2% |
| 净利润同比 | 264.1% | 38.5% |
| 每股收益（稀释后） | — | $0.96 |
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
| Q1 26 | — | $617.8M | ||
| Q4 25 | $382.2M | $521.2M | ||
| Q3 25 | $363.8M | $508.6M | ||
| Q2 25 | $345.3M | $513.0M | ||
| Q1 25 | $333.0M | $509.7M | ||
| Q4 24 | $325.5M | $463.3M | ||
| Q3 24 | $312.7M | $448.9M | ||
| Q2 24 | $312.3M | $405.0M |
| Q1 26 | — | $233.2M | ||
| Q4 25 | $11.7M | $325.0M | ||
| Q3 25 | $1.1M | $185.6M | ||
| Q2 25 | $-3.8M | $153.8M | ||
| Q1 25 | $709.0K | $148.4M | ||
| Q4 24 | $-7.1M | $142.2M | ||
| Q3 24 | $-6.0M | $113.9M | ||
| Q2 24 | $-23.3M | $119.2M |
| Q1 26 | — | 46.5% | ||
| Q4 25 | 4.7% | 42.4% | ||
| Q3 25 | 2.0% | 41.4% | ||
| Q2 25 | -0.9% | 39.0% | ||
| Q1 25 | 0.5% | 40.0% | ||
| Q4 24 | 0.3% | 40.7% | ||
| Q3 24 | 0.0% | 35.5% | ||
| Q2 24 | -5.1% | 40.1% |
| Q1 26 | — | 37.7% | ||
| Q4 25 | 3.1% | 62.4% | ||
| Q3 25 | 0.3% | 36.5% | ||
| Q2 25 | -1.1% | 30.0% | ||
| Q1 25 | 0.2% | 29.1% | ||
| Q4 24 | -2.2% | 30.7% | ||
| Q3 24 | -1.9% | 25.4% | ||
| Q2 24 | -7.5% | 29.4% |
| Q1 26 | — | $0.96 | ||
| Q4 25 | — | $1.52 | ||
| Q3 25 | — | $0.86 | ||
| Q2 25 | — | $0.71 | ||
| Q1 25 | — | $0.69 | ||
| Q4 24 | — | $0.66 | ||
| Q3 24 | — | $0.53 | ||
| Q2 24 | — | $0.55 |
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 | — |
| 总债务越低越好 | $282.8M | — |
| 股东权益账面价值 | $1.5B | — |
| 总资产 | $2.2B | — |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $248.6M | $2.1B | ||
| Q3 25 | $203.9M | $1.9B | ||
| Q2 25 | $188.9M | $1.6B | ||
| Q1 25 | $134.3M | $1.3B | ||
| Q4 24 | $154.6M | $1.3B | ||
| Q3 24 | $102.6M | $1.2B | ||
| Q2 24 | $87.0M | $1.7B |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | $1.5B | $6.5B | ||
| Q3 25 | $1.5B | $6.3B | ||
| Q2 25 | $1.5B | $6.1B | ||
| Q1 25 | $1.5B | $5.9B | ||
| Q4 24 | $1.4B | $5.8B | ||
| Q3 24 | $1.4B | $5.7B | ||
| Q2 24 | $1.4B | $5.6B |
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $8.2B | ||
| Q3 25 | $2.1B | $8.0B | ||
| Q2 25 | $2.1B | $8.1B | ||
| Q1 25 | $2.1B | $7.4B | ||
| Q4 24 | $2.1B | $7.3B | ||
| Q3 24 | $2.1B | $7.3B | ||
| Q2 24 | $2.1B | $7.3B |
| Q1 26 | — | — | ||
| 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× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $46.6M | $2.0M |
| 自由现金流率自由现金流/营收 | 12.2% | 0.3% |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | 4.93× | — |
| 过去12个月自由现金流最近4个季度 | $110.0M | $1.1B |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $57.6M | $355.9M | ||
| Q3 25 | $27.3M | $342.3M | ||
| Q2 25 | $64.4M | $409.2M | ||
| Q1 25 | $-3.1M | $60.2M | ||
| Q4 24 | $62.3M | $282.0M | ||
| Q3 24 | $22.7M | $292.1M | ||
| Q2 24 | $44.1M | $285.7M |
| Q1 26 | — | $2.0M | ||
| Q4 25 | $46.6M | $336.5M | ||
| Q3 25 | $17.0M | $328.3M | ||
| Q2 25 | $56.6M | $403.7M | ||
| Q1 25 | $-10.3M | $58.6M | ||
| Q4 24 | $56.0M | $256.8M | ||
| Q3 24 | $17.7M | $287.8M | ||
| Q2 24 | $39.0M | $280.8M |
| Q1 26 | — | 0.3% | ||
| Q4 25 | 12.2% | 64.6% | ||
| Q3 25 | 4.7% | 64.5% | ||
| Q2 25 | 16.4% | 78.7% | ||
| Q1 25 | -3.1% | 11.5% | ||
| Q4 24 | 17.2% | 55.4% | ||
| Q3 24 | 5.7% | 64.1% | ||
| Q2 24 | 12.5% | 69.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.9% | 3.7% | ||
| Q3 25 | 2.8% | 2.8% | ||
| Q2 25 | 2.2% | 1.1% | ||
| Q1 25 | 2.2% | 0.3% | ||
| Q4 24 | 1.9% | 5.4% | ||
| Q3 24 | 1.6% | 1.0% | ||
| Q2 24 | 1.6% | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 4.93× | 1.10× | ||
| Q3 25 | 25.34× | 1.84× | ||
| Q2 25 | — | 2.66× | ||
| Q1 25 | -4.36× | 0.41× | ||
| Q4 24 | — | 1.98× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.40× |
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
TW
| Transaction fees and commissions | $523.8M | 85% |
| Subscription fees | $60.3M | 10% |
| LSEG market data fees | $26.7M | 4% |
