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Mastech Digital, Inc.（MHH）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Mastech Digital, Inc.的1.7倍（$78.6M vs $45.5M），Mastech Digital, Inc.净利率更高（2.1% vs -178.3%，领先180.4%），Repay Holdings Corp同比增速更快（0.4% vs -10.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $4.3M），过去两年Repay Holdings Corp的营收复合增速更高（-1.3% vs -1.5%）
Mastech Digital, Inc.是一家专注数字化转型与信息技术服务的企业，总部位于美国宾夕法尼亚州匹兹堡，业务覆盖北美、中东、亚洲及日本地区，为各行业企业提供专业IT相关解决方案与服务。
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。
MHH vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.7倍
$45.5M
营收增速更快
RPAY
高出10.8%
-10.4%
净利率更高
MHH
高出180.4%
-178.3%
自由现金流更多
RPAY
多$18.9M
$4.3M
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 | $45.5M | $78.6M |
| 净利润 | $972.0K | $-140.1M |
| 毛利率 | 28.3% | 74.2% |
| 营业利润率 | 2.2% | -182.2% |
| 净利率 | 2.1% | -178.3% |
| 营收同比 | -10.4% | 0.4% |
| 净利润同比 | 227.3% | -3304.1% |
| 每股收益（稀释后） | $0.08 | $-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MHHRPAY
| Q4 25 | $45.5M | $78.6M | ||
| Q3 25 | $48.5M | $77.7M | ||
| Q2 25 | $49.1M | $75.6M | ||
| Q1 25 | $48.3M | $77.3M | ||
| Q4 24 | $50.7M | $78.3M | ||
| Q3 24 | $51.8M | $79.1M | ||
| Q2 24 | $49.5M | $74.9M | ||
| Q1 24 | $46.8M | $80.7M |
净利润MHHRPAY
| Q4 25 | $972.0K | $-140.1M | ||
| Q3 25 | $941.0K | $-6.4M | ||
| Q2 25 | $135.0K | $-102.3M | ||
| Q1 25 | $-1.4M | $-7.9M | ||
| Q4 24 | $297.0K | $-4.1M | ||
| Q3 24 | $1.9M | $3.2M | ||
| Q2 24 | $1.4M | $-4.1M | ||
| Q1 24 | $-161.0K | $-5.2M |
毛利率MHHRPAY
| Q4 25 | 28.3% | 74.2% | ||
| Q3 25 | 27.8% | 74.4% | ||
| Q2 25 | 28.1% | 75.7% | ||
| Q1 25 | 26.7% | 75.9% | ||
| Q4 24 | 29.0% | 76.3% | ||
| Q3 24 | 28.5% | 77.8% | ||
| Q2 24 | 28.2% | 78.2% | ||
| Q1 24 | 25.9% | 76.2% |
营业利润率MHHRPAY
| Q4 25 | 2.2% | -182.2% | ||
| Q3 25 | 1.7% | -3.9% | ||
| Q2 25 | 0.1% | -138.7% | ||
| Q1 25 | -3.8% | -4.7% | ||
| Q4 24 | 0.1% | -1.5% | ||
| Q3 24 | 4.7% | -0.9% | ||
| Q2 24 | 3.4% | -4.6% | ||
| Q1 24 | -0.9% | -3.1% |
净利率MHHRPAY
| Q4 25 | 2.1% | -178.3% | ||
| Q3 25 | 1.9% | -8.3% | ||
| Q2 25 | 0.3% | -135.2% | ||
| Q1 25 | -3.0% | -10.3% | ||
| Q4 24 | 0.6% | -5.3% | ||
| Q3 24 | 3.6% | 4.1% | ||
| Q2 24 | 2.8% | -5.4% | ||
| Q1 24 | -0.3% | -6.5% |
每股收益（稀释后）MHHRPAY
| Q4 25 | $0.08 | $-1.68 | ||
| Q3 25 | $0.08 | $-0.08 | ||
| Q2 25 | $0.01 | $-1.15 | ||
| Q1 25 | $-0.12 | $-0.09 | ||
| Q4 24 | $0.01 | $-0.04 | ||
| Q3 24 | $0.16 | $0.03 | ||
| Q2 24 | $0.12 | $-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 | $36.5M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $89.3M | $484.4M |
| 总资产 | $111.8M | $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MHHRPAY
| Q4 25 | $36.5M | $115.7M | ||
| Q3 25 | $32.7M | $95.7M | ||
| Q2 25 | $27.9M | $162.6M | ||
| Q1 25 | $24.7M | $165.5M | ||
| Q4 24 | $27.7M | $189.5M | ||
| Q3 24 | $23.9M | $168.7M | ||
| Q2 24 | $20.6M | $147.1M | ||
| Q1 24 | $19.4M | $128.3M |
总债务MHHRPAY
| 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MHHRPAY
| Q4 25 | $89.3M | $484.4M | ||
| Q3 25 | $88.0M | $616.9M | ||
| Q2 25 | $87.8M | $633.7M | ||
| Q1 25 | $86.9M | $755.7M | ||
| Q4 24 | $87.4M | $761.3M | ||
| Q3 24 | $86.5M | $754.7M | ||
| Q2 24 | $84.0M | $815.4M | ||
| Q1 24 | $81.7M | $813.8M |
总资产MHHRPAY
| Q4 25 | $111.8M | $1.2B | ||
| Q3 25 | $112.6M | $1.3B | ||
| Q2 25 | $110.4M | $1.4B | ||
| Q1 25 | $110.1M | $1.5B | ||
| Q4 24 | $111.5M | $1.6B | ||
| Q3 24 | $111.5M | $1.6B | ||
| Q2 24 | $107.5M | $1.5B | ||
| Q1 24 | $106.1M | $1.5B |
负债/权益比MHHRPAY
| 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 | $4.4M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $4.3M | $23.2M |
| 自由现金流率自由现金流/营收 | 9.5% | 29.6% |
| 资本支出强度资本支出/营收 | 0.1% | 0.1% |
| 现金转化率经营现金流/净利润 | 4.48× | — |
| 过去12个月自由现金流最近4个季度 | $10.8M | $90.7M |
8季度趋势，按日历期对齐
经营现金流MHHRPAY
| Q4 25 | $4.4M | $23.3M | ||
| Q3 25 | $6.5M | $32.2M | ||
| Q2 25 | $3.3M | $33.1M | ||
| Q1 25 | $-3.0M | $2.5M | ||
| Q4 24 | $4.0M | $34.3M | ||
| Q3 24 | $3.3M | $60.1M | ||
| Q2 24 | $1.2M | $31.0M | ||
| Q1 24 | $-1.3M | $24.8M |
自由现金流MHHRPAY
| Q4 25 | $4.3M | $23.2M | ||
| Q3 25 | $6.3M | $32.1M | ||
| Q2 25 | $3.2M | $33.0M | ||
| Q1 25 | $-3.1M | $2.4M | ||
| Q4 24 | $3.9M | $34.0M | ||
| Q3 24 | $3.2M | $59.8M | ||
| Q2 24 | $707.0K | $30.5M | ||
| Q1 24 | $-1.6M | $24.7M |
自由现金流率MHHRPAY
| Q4 25 | 9.5% | 29.6% | ||
| Q3 25 | 13.0% | 41.3% | ||
| Q2 25 | 6.6% | 43.6% | ||
| Q1 25 | -6.4% | 3.0% | ||
| Q4 24 | 7.7% | 43.5% | ||
| Q3 24 | 6.2% | 75.6% | ||
| Q2 24 | 1.4% | 40.7% | ||
| Q1 24 | -3.4% | 30.6% |
资本支出强度MHHRPAY
| Q4 25 | 0.1% | 0.1% | ||
| Q3 25 | 0.4% | 0.2% | ||
| Q2 25 | 0.1% | 0.1% | ||
| Q1 25 | 0.2% | 0.2% | ||
| Q4 24 | 0.2% | 0.3% | ||
| Q3 24 | 0.1% | 0.3% | ||
| Q2 24 | 1.0% | 0.6% | ||
| Q1 24 | 0.6% | 0.1% |
现金转化率MHHRPAY
| Q4 25 | 4.48× | — | ||
| Q3 25 | 6.88× | — | ||
| Q2 25 | 24.41× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.60× | — | ||
| Q3 24 | 1.76× | 18.52× | ||
| Q2 24 | 0.85× | — | ||
| 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
MHH
| IT Staffing Services | $37.6M | 83% |
| Data And Analytics Services | $7.8M | 17% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
