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MDU RESOURCES GROUP INC（MDU）与UiPath, Inc.（PATH）财务数据对比。点击上方公司名可切换其他公司
MDU RESOURCES GROUP INC的季度营收约是UiPath, Inc.的1.3倍（$522.6M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 14.6%，领先33.8%），UiPath, Inc.同比增速更快（15.9% vs -1.6%），UiPath, Inc.自由现金流更多（$25.1M vs $-336.0M），过去两年UiPath, Inc.的营收复合增速更高（0.7% vs -5.7%）
MDU资源集团是一家总部位于美国北达科他州俾斯麦的企业，业务涵盖受监管的能源输送供应，以及公用事业相关的建筑材料与服务，业务范围覆盖美国48个州，是当地能源及基建服务领域的重要参与者。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
MDU vs PATH — 直观对比
营收规模更大
MDU
是对方的1.3倍
$411.1M
营收增速更快
PATH
高出17.5%
-1.6%
净利率更高
PATH
高出33.8%
14.6%
自由现金流更多
PATH
多$361.1M
$-336.0M
两年增速更快
PATH
近两年复合增速
-5.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $522.6M | $411.1M |
| 净利润 | $76.3M | $198.8M |
| 毛利率 | — | 83.3% |
| 营业利润率 | 20.5% | 3.2% |
| 净利率 | 14.6% | 48.4% |
| 营收同比 | -1.6% | 15.9% |
| 净利润同比 | 38.4% | 1966.2% |
| 每股收益（稀释后） | $0.37 | $0.37 |
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MDUPATH
| Q4 25 | $522.6M | $411.1M | ||
| Q3 25 | $313.6M | $361.7M | ||
| Q2 25 | $348.7M | $356.6M | ||
| Q1 25 | $678.0M | $423.6M | ||
| Q4 24 | $531.0M | $354.7M | ||
| Q3 24 | $290.7M | $316.3M | ||
| Q2 24 | $343.1M | $335.1M | ||
| Q1 24 | $588.2M | $405.3M |
净利润MDUPATH
| Q4 25 | $76.3M | $198.8M | ||
| Q3 25 | $18.3M | $1.6M | ||
| Q2 25 | $13.8M | $-22.6M | ||
| Q1 25 | $82.0M | $51.8M | ||
| Q4 24 | $55.2M | $-10.7M | ||
| Q3 24 | $64.6M | $-86.1M | ||
| Q2 24 | $60.4M | $-28.7M | ||
| Q1 24 | $100.9M | $33.9M |
毛利率MDUPATH
| Q4 25 | — | 83.3% | ||
| Q3 25 | — | 82.2% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 84.8% | ||
| Q4 24 | — | 82.0% | ||
| Q3 24 | — | 80.0% | ||
| Q2 24 | — | 83.5% | ||
| Q1 24 | — | 86.8% |
营业利润率MDUPATH
| Q4 25 | 20.5% | 3.2% | ||
| Q3 25 | 12.7% | -5.6% | ||
| Q2 25 | 8.7% | -4.6% | ||
| Q1 25 | 16.6% | 7.9% | ||
| Q4 24 | 17.8% | -12.2% | ||
| Q3 24 | 12.0% | -32.7% | ||
| Q2 24 | 11.5% | -14.8% | ||
| Q1 24 | 16.4% | 3.7% |
净利率MDUPATH
| Q4 25 | 14.6% | 48.4% | ||
| Q3 25 | 5.8% | 0.4% | ||
| Q2 25 | 4.0% | -6.3% | ||
| Q1 25 | 12.1% | 12.2% | ||
| Q4 24 | 10.4% | -3.0% | ||
| Q3 24 | 22.2% | -27.2% | ||
| Q2 24 | 17.6% | -8.6% | ||
| Q1 24 | 17.2% | 8.4% |
每股收益（稀释后）MDUPATH
| Q4 25 | $0.37 | $0.37 | ||
| Q3 25 | $0.09 | $0.00 | ||
| Q2 25 | $0.07 | $-0.04 | ||
| Q1 25 | $0.40 | $0.09 | ||
| Q4 24 | $0.26 | $-0.02 | ||
| Q3 24 | $0.32 | $-0.15 | ||
| Q2 24 | $0.30 | $-0.05 | ||
| Q1 24 | $0.49 | $0.07 |
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 | $28.2M | $1.4B |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $2.8B | $1.9B |
| 总资产 | $7.6B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.97× | — |
8季度趋势，按日历期对齐
现金及短期投资MDUPATH
| Q4 25 | $28.2M | $1.4B | ||
| Q3 25 | $75.9M | $1.4B | ||
| Q2 25 | $58.8M | $1.6B | ||
| Q1 25 | $59.5M | $1.6B | ||
| Q4 24 | $66.9M | $1.6B | ||
| Q3 24 | $88.3M | $1.7B | ||
| Q2 24 | $78.8M | $1.9B | ||
| Q1 24 | $72.7M | $1.9B |
总债务MDUPATH
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.3B | — |
股东权益MDUPATH
| Q4 25 | $2.8B | $1.9B | ||
| Q3 25 | $2.7B | $1.7B | ||
| Q2 25 | $2.7B | $1.7B | ||
| Q1 25 | $2.7B | $1.8B | ||
| Q4 24 | $2.7B | $1.7B | ||
| Q3 24 | $3.1B | $1.8B | ||
| Q2 24 | $3.0B | $2.0B | ||
| Q1 24 | $3.0B | $2.0B |
总资产MDUPATH
| Q4 25 | $7.6B | $2.9B | ||
| Q3 25 | $7.2B | $2.6B | ||
| Q2 25 | $6.9B | $2.6B | ||
| Q1 25 | $7.0B | $2.9B | ||
| Q4 24 | $7.0B | $2.7B | ||
| Q3 24 | $8.2B | $2.7B | ||
| Q2 24 | $8.0B | $2.8B | ||
| Q1 24 | $7.8B | $3.0B |
负债/权益比MDUPATH
| Q4 25 | 0.97× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 0.76× | — |
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 | $80.6M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $-336.0M | $25.1M |
| 自由现金流率自由现金流/营收 | -64.3% | 6.1% |
| 资本支出强度资本支出/营收 | 79.7% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.06× | 0.14× |
| 过去12个月自由现金流最近4个季度 | $-297.0M | — |
8季度趋势，按日历期对齐
经营现金流MDUPATH
| Q4 25 | $80.6M | $28.3M | ||
| Q3 25 | $57.9M | $41.6M | ||
| Q2 25 | $117.4M | $119.0M | ||
| Q1 25 | $217.5M | $146.1M | ||
| Q4 24 | $60.5M | $28.1M | ||
| Q3 24 | $140.2M | $46.4M | ||
| Q2 24 | $136.5M | $100.0M | ||
| Q1 24 | $165.1M | $145.6M |
自由现金流MDUPATH
| Q4 25 | $-336.0M | $25.1M | ||
| Q3 25 | $-121.9M | — | ||
| Q2 25 | $36.5M | $106.2M | ||
| Q1 25 | $124.4M | $138.7M | ||
| Q4 24 | $-95.8M | $23.2M | ||
| Q3 24 | $673.0K | $45.0M | ||
| Q2 24 | $26.5M | $98.8M | ||
| Q1 24 | $48.1M | $141.8M |
自由现金流率MDUPATH
| Q4 25 | -64.3% | 6.1% | ||
| Q3 25 | -38.9% | — | ||
| Q2 25 | 10.5% | 29.8% | ||
| Q1 25 | 18.4% | 32.7% | ||
| Q4 24 | -18.0% | 6.5% | ||
| Q3 24 | 0.2% | 14.2% | ||
| Q2 24 | 7.7% | 29.5% | ||
| Q1 24 | 8.2% | 35.0% |
资本支出强度MDUPATH
| Q4 25 | 79.7% | 0.8% | ||
| Q3 25 | 57.3% | 0.0% | ||
| Q2 25 | 23.2% | 3.6% | ||
| Q1 25 | 13.7% | 1.7% | ||
| Q4 24 | 29.4% | 1.4% | ||
| Q3 24 | 48.0% | 0.4% | ||
| Q2 24 | 32.0% | 0.4% | ||
| Q1 24 | 19.9% | 0.9% |
现金转化率MDUPATH
| Q4 25 | 1.06× | 0.14× | ||
| Q3 25 | 3.16× | 26.25× | ||
| Q2 25 | 8.52× | — | ||
| Q1 25 | 2.65× | 2.82× | ||
| Q4 24 | 1.10× | — | ||
| Q3 24 | 2.17× | — | ||
| Q2 24 | 2.26× | — | ||
| Q1 24 | 1.64× | 4.29× |
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
MDU
| Natural Gas Distribution | $382.8M | 73% |
| Commercial Utility Sales | $42.7M | 8% |
| Residential Utility Sales | $33.7M | 6% |
| Pipelineand Midstream | $31.1M | 6% |
| Natural Gas Transportation | $17.2M | 3% |
| Industrial Utility Sales | $10.1M | 2% |
| Natural Gas Storage | $6.4M | 1% |
| Other Utility Sales | $1.9M | 0% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
