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LINCOLN EDUCATIONAL SERVICES CORP（LINC）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
LINCOLN EDUCATIONAL SERVICES CORP的季度营收约是Repay Holdings Corp的1.8倍（$142.9M vs $78.6M），LINCOLN EDUCATIONAL SERVICES CORP净利率更高（8.9% vs -178.3%，领先187.2%），LINCOLN EDUCATIONAL SERVICES CORP同比增速更快（19.7% vs 0.4%），LINCOLN EDUCATIONAL SERVICES CORP自由现金流更多（$25.0M vs $23.2M），过去两年LINCOLN EDUCATIONAL SERVICES CORP的营收复合增速更高（17.6% vs -1.3%）
林肯技术教育集团是美国营利性高等职业教育机构，总部位于新泽西州帕西帕尼，在美国科罗拉多、康涅狄格、佐治亚等12个州都设有校区，所有校区均由林肯教育服务公司持有运营，主打面向就业的高等职业技术教育服务。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
LINC vs RPAY — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $142.9M | $78.6M |
| 净利润 | $12.7M | $-140.1M |
| 毛利率 | 62.3% | 74.2% |
| 营业利润率 | 12.4% | -182.2% |
| 净利率 | 8.9% | -178.3% |
| 营收同比 | 19.7% | 0.4% |
| 净利润同比 | 85.9% | -3304.1% |
| 每股收益（稀释后） | $0.41 | $-1.68 |
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
| Q4 25 | $142.9M | $78.6M | ||
| Q3 25 | $141.4M | $77.7M | ||
| Q2 25 | $116.5M | $75.6M | ||
| Q1 25 | $117.5M | $77.3M | ||
| Q4 24 | $119.4M | $78.3M | ||
| Q3 24 | $114.4M | $79.1M | ||
| Q2 24 | $102.9M | $74.9M | ||
| Q1 24 | $103.4M | $80.7M |
| Q4 25 | $12.7M | $-140.1M | ||
| Q3 25 | $3.8M | $-6.4M | ||
| Q2 25 | $1.6M | $-102.3M | ||
| Q1 25 | $1.9M | $-7.9M | ||
| Q4 24 | $6.8M | $-4.1M | ||
| Q3 24 | $4.0M | $3.2M | ||
| Q2 24 | $-682.0K | $-4.1M | ||
| Q1 24 | $-214.0K | $-5.2M |
| Q4 25 | 62.3% | 74.2% | ||
| Q3 25 | 59.5% | 74.4% | ||
| Q2 25 | 59.8% | 75.7% | ||
| Q1 25 | 59.7% | 75.9% | ||
| Q4 24 | 62.2% | 76.3% | ||
| Q3 24 | 58.0% | 77.8% | ||
| Q2 24 | 55.7% | 78.2% | ||
| Q1 24 | 58.4% | 76.2% |
| Q4 25 | 12.4% | -182.2% | ||
| Q3 25 | 4.4% | -3.9% | ||
| Q2 25 | 2.5% | -138.7% | ||
| Q1 25 | 2.9% | -4.7% | ||
| Q4 24 | 9.2% | -1.5% | ||
| Q3 24 | 5.1% | -0.9% | ||
| Q2 24 | -1.1% | -4.6% | ||
| Q1 24 | -0.4% | -3.1% |
| Q4 25 | 8.9% | -178.3% | ||
| Q3 25 | 2.7% | -8.3% | ||
| Q2 25 | 1.3% | -135.2% | ||
| Q1 25 | 1.7% | -10.3% | ||
| Q4 24 | 5.7% | -5.3% | ||
| Q3 24 | 3.5% | 4.1% | ||
| Q2 24 | -0.7% | -5.4% | ||
| Q1 24 | -0.2% | -6.5% |
| Q4 25 | $0.41 | $-1.68 | ||
| Q3 25 | $0.12 | $-0.08 | ||
| Q2 25 | $0.05 | $-1.15 | ||
| Q1 25 | $0.06 | $-0.09 | ||
| Q4 24 | $0.22 | $-0.04 | ||
| Q3 24 | $0.13 | $0.03 | ||
| Q2 24 | $-0.02 | $-0.04 | ||
| Q1 24 | $-0.01 | $-0.06 |
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 | $28.5M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $199.7M | $484.4M |
| 总资产 | $493.2M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
| Q4 25 | $28.5M | $115.7M | ||
| Q3 25 | $13.5M | $95.7M | ||
| Q2 25 | $16.7M | $162.6M | ||
| Q1 25 | $28.7M | $165.5M | ||
| Q4 24 | $59.3M | $189.5M | ||
| Q3 24 | $54.0M | $168.7M | ||
| Q2 24 | $67.0M | $147.1M | ||
| Q1 24 | $68.6M | $128.3M |
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
| Q4 25 | $199.7M | $484.4M | ||
| Q3 25 | $185.9M | $616.9M | ||
| Q2 25 | $180.7M | $633.7M | ||
| Q1 25 | $177.8M | $755.7M | ||
| Q4 24 | $178.3M | $761.3M | ||
| Q3 24 | $170.0M | $754.7M | ||
| Q2 24 | $164.9M | $815.4M | ||
| Q1 24 | $164.5M | $813.8M |
| Q4 25 | $493.2M | $1.2B | ||
| Q3 25 | $466.9M | $1.3B | ||
| Q2 25 | $447.3M | $1.4B | ||
| Q1 25 | $427.4M | $1.5B | ||
| Q4 24 | $436.6M | $1.6B | ||
| Q3 24 | $404.0M | $1.6B | ||
| Q2 24 | $366.4M | $1.5B | ||
| Q1 24 | $355.2M | $1.5B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $43.5M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $25.0M | $23.2M |
| 自由现金流率自由现金流/营收 | 17.5% | 29.6% |
| 资本支出强度资本支出/营收 | 13.0% | 0.1% |
| 现金转化率经营现金流/净利润 | 3.43× | — |
| 过去12个月自由现金流最近4个季度 | $-27.3M | $90.7M |
8季度趋势，按日历期对齐
| Q4 25 | $43.5M | $23.3M | ||
| Q3 25 | $23.9M | $32.2M | ||
| Q2 25 | $299.0K | $33.1M | ||
| Q1 25 | $-8.4M | $2.5M | ||
| Q4 24 | $30.3M | $34.3M | ||
| Q3 24 | $5.6M | $60.1M | ||
| Q2 24 | $8.3M | $31.0M | ||
| Q1 24 | $-14.9M | $24.8M |
| Q4 25 | $25.0M | $23.2M | ||
| Q3 25 | $2.0M | $32.1M | ||
| Q2 25 | $-26.1M | $33.0M | ||
| Q1 25 | $-28.3M | $2.4M | ||
| Q4 24 | $5.5M | $34.0M | ||
| Q3 24 | $-13.8M | $59.8M | ||
| Q2 24 | $-2.7M | $30.5M | ||
| Q1 24 | $-16.6M | $24.7M |
| Q4 25 | 17.5% | 29.6% | ||
| Q3 25 | 1.4% | 41.3% | ||
| Q2 25 | -22.4% | 43.6% | ||
| Q1 25 | -24.1% | 3.0% | ||
| Q4 24 | 4.6% | 43.5% | ||
| Q3 24 | -12.0% | 75.6% | ||
| Q2 24 | -2.6% | 40.7% | ||
| Q1 24 | -16.1% | 30.6% |
| Q4 25 | 13.0% | 0.1% | ||
| Q3 25 | 15.5% | 0.2% | ||
| Q2 25 | 22.7% | 0.1% | ||
| Q1 25 | 16.9% | 0.2% | ||
| Q4 24 | 20.8% | 0.3% | ||
| Q3 24 | 16.9% | 0.3% | ||
| Q2 24 | 10.7% | 0.6% | ||
| Q1 24 | 1.6% | 0.1% |
| Q4 25 | 3.43× | — | ||
| Q3 25 | 6.29× | — | ||
| Q2 25 | 0.19× | — | ||
| Q1 25 | -4.31× | — | ||
| Q4 24 | 4.43× | — | ||
| Q3 24 | 1.42× | 18.52× | ||
| Q2 24 | — | — | ||
| 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
LINC
| Transferred Over Time | $136.0M | 95% |
| Transferred At Point In Time | $6.9M | 5% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
