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WM TECHNOLOGY, INC.（MAPS）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
Repay Holdings Corp的季度营收约是WM TECHNOLOGY, INC.的1.8倍（$78.6M vs $43.1M），WM TECHNOLOGY, INC.净利率更高（-8.3% vs -178.3%，领先170.0%），Repay Holdings Corp同比增速更快（0.4% vs -9.7%），Repay Holdings Corp自由现金流更多（$23.2M vs $-280.0K），过去两年Repay Holdings Corp的营收复合增速更高（-1.3% vs -1.5%）
WM娱乐是韩国一家娱乐经纪公司，由前歌手李元敏创立于2008年，核心业务为艺人经纪管理，知名女团Oh My Girl便由该公司运营管理，2021年4月7日，WM娱乐被RBW公司收购。
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。
MAPS vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.8倍
$43.1M
营收增速更快
RPAY
高出10.1%
-9.7%
净利率更高
MAPS
高出170.0%
-178.3%
自由现金流更多
RPAY
多$23.5M
$-280.0K
两年增速更快
RPAY
近两年复合增速
-1.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $43.1M | $78.6M |
| 净利润 | $-3.6M | $-140.1M |
| 毛利率 | 94.9% | 74.2% |
| 营业利润率 | -13.5% | -182.2% |
| 净利率 | -8.3% | -178.3% |
| 营收同比 | -9.7% | 0.4% |
| 净利润同比 | -251.9% | -3304.1% |
| 每股收益（稀释后） | — | $-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
营收MAPSRPAY
| Q4 25 | $43.1M | $78.6M | ||
| Q3 25 | $42.2M | $77.7M | ||
| Q2 25 | $44.8M | $75.6M | ||
| Q1 25 | $44.6M | $77.3M | ||
| Q4 24 | $47.7M | $78.3M | ||
| Q3 24 | $46.6M | $79.1M | ||
| Q2 24 | $45.9M | $74.9M | ||
| Q1 24 | $44.4M | $80.7M |
净利润MAPSRPAY
| Q4 25 | $-3.6M | $-140.1M | ||
| Q3 25 | $2.5M | $-6.4M | ||
| Q2 25 | $1.4M | $-102.3M | ||
| Q1 25 | $1.6M | $-7.9M | ||
| Q4 24 | $2.4M | $-4.1M | ||
| Q3 24 | $3.3M | $3.2M | ||
| Q2 24 | $716.0K | $-4.1M | ||
| Q1 24 | $1.2M | $-5.2M |
毛利率MAPSRPAY
| Q4 25 | 94.9% | 74.2% | ||
| Q3 25 | 95.0% | 74.4% | ||
| Q2 25 | 94.9% | 75.7% | ||
| Q1 25 | 95.0% | 75.9% | ||
| Q4 24 | 95.2% | 76.3% | ||
| Q3 24 | 95.3% | 77.8% | ||
| Q2 24 | 95.1% | 78.2% | ||
| Q1 24 | 94.8% | 76.2% |
营业利润率MAPSRPAY
| Q4 25 | -13.5% | -182.2% | ||
| Q3 25 | 4.6% | -3.9% | ||
| Q2 25 | 4.4% | -138.7% | ||
| Q1 25 | 5.9% | -4.7% | ||
| Q4 24 | 9.6% | -1.5% | ||
| Q3 24 | 11.2% | -0.9% | ||
| Q2 24 | 2.7% | -4.6% | ||
| Q1 24 | 8.5% | -3.1% |
净利率MAPSRPAY
| Q4 25 | -8.3% | -178.3% | ||
| Q3 25 | 5.8% | -8.3% | ||
| Q2 25 | 3.2% | -135.2% | ||
| Q1 25 | 3.7% | -10.3% | ||
| Q4 24 | 4.9% | -5.3% | ||
| Q3 24 | 7.2% | 4.1% | ||
| Q2 24 | 1.6% | -5.4% | ||
| Q1 24 | 2.8% | -6.5% |
每股收益（稀释后）MAPSRPAY
| Q4 25 | — | $-1.68 | ||
| Q3 25 | — | $-0.08 | ||
| Q2 25 | — | $-1.15 | ||
| Q1 25 | $0.02 | $-0.09 | ||
| Q4 24 | — | $-0.04 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | — | $-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 | $62.4M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $57.2M | $484.4M |
| 总资产 | $190.7M | $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
现金及短期投资MAPSRPAY
| Q4 25 | $62.4M | $115.7M | ||
| Q3 25 | — | $95.7M | ||
| Q2 25 | — | $162.6M | ||
| Q1 25 | — | $165.5M | ||
| Q4 24 | $52.0M | $189.5M | ||
| Q3 24 | — | $168.7M | ||
| Q2 24 | — | $147.1M | ||
| Q1 24 | — | $128.3M |
总债务MAPSRPAY
| 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 |
股东权益MAPSRPAY
| Q4 25 | $57.2M | $484.4M | ||
| Q3 25 | $56.9M | $616.9M | ||
| Q2 25 | $52.7M | $633.7M | ||
| Q1 25 | $48.5M | $755.7M | ||
| Q4 24 | $36.1M | $761.3M | ||
| Q3 24 | $29.5M | $754.7M | ||
| Q2 24 | $24.5M | $815.4M | ||
| Q1 24 | $20.8M | $813.8M |
总资产MAPSRPAY
| Q4 25 | $190.7M | $1.2B | ||
| Q3 25 | $192.9M | $1.3B | ||
| Q2 25 | $188.1M | $1.4B | ||
| Q1 25 | $183.8M | $1.5B | ||
| Q4 24 | $181.9M | $1.6B | ||
| Q3 24 | $173.6M | $1.6B | ||
| Q2 24 | $168.0M | $1.5B | ||
| Q1 24 | $165.8M | $1.5B |
负债/权益比MAPSRPAY
| 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 | $3.0M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-280.0K | $23.2M |
| 自由现金流率自由现金流/营收 | -0.7% | 29.6% |
| 资本支出强度资本支出/营收 | 7.7% | 0.1% |
| 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 | $13.5M | $90.7M |
8季度趋势，按日历期对齐
经营现金流MAPSRPAY
| Q4 25 | $3.0M | $23.3M | ||
| Q3 25 | $6.4M | $32.2M | ||
| Q2 25 | $11.1M | $33.1M | ||
| Q1 25 | $5.7M | $2.5M | ||
| Q4 24 | $9.4M | $34.3M | ||
| Q3 24 | $7.2M | $60.1M | ||
| Q2 24 | $12.7M | $31.0M | ||
| Q1 24 | $7.4M | $24.8M |
自由现金流MAPSRPAY
| Q4 25 | $-280.0K | $23.2M | ||
| Q3 25 | $3.6M | $32.1M | ||
| Q2 25 | $8.2M | $33.0M | ||
| Q1 25 | $2.0M | $2.4M | ||
| Q4 24 | $7.3M | $34.0M | ||
| Q3 24 | $4.9M | $59.8M | ||
| Q2 24 | $10.1M | $30.5M | ||
| Q1 24 | $2.9M | $24.7M |
自由现金流率MAPSRPAY
| Q4 25 | -0.7% | 29.6% | ||
| Q3 25 | 8.4% | 41.3% | ||
| Q2 25 | 18.3% | 43.6% | ||
| Q1 25 | 4.5% | 3.0% | ||
| Q4 24 | 15.2% | 43.5% | ||
| Q3 24 | 10.4% | 75.6% | ||
| Q2 24 | 21.9% | 40.7% | ||
| Q1 24 | 6.4% | 30.6% |
资本支出强度MAPSRPAY
| Q4 25 | 7.7% | 0.1% | ||
| Q3 25 | 6.8% | 0.2% | ||
| Q2 25 | 6.3% | 0.1% | ||
| Q1 25 | 8.2% | 0.2% | ||
| Q4 24 | 4.5% | 0.3% | ||
| Q3 24 | 5.1% | 0.3% | ||
| Q2 24 | 5.7% | 0.6% | ||
| Q1 24 | 10.2% | 0.1% |
现金转化率MAPSRPAY
| Q4 25 | — | — | ||
| Q3 25 | 2.61× | — | ||
| Q2 25 | 7.75× | — | ||
| Q1 25 | 3.44× | — | ||
| Q4 24 | 4.00× | — | ||
| Q3 24 | 2.17× | 18.52× | ||
| Q2 24 | 17.67× | — | ||
| Q1 24 | 5.97× | — |
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
MAPS
| Services | $39.5M | 92% |
| Other | $3.6M | 8% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
