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微策略（MSTR）与PDF SOLUTIONS INC（PDFS）财务数据对比。点击上方公司名可切换其他公司
微策略的季度营收约是PDF SOLUTIONS INC的2.0倍（$123.0M vs $62.4M），PDF SOLUTIONS INC同比增速更快（24.6% vs 1.9%），过去两年PDF SOLUTIONS INC的营收复合增速更高（22.9% vs 3.3%）
Strategy Inc（原名为微策略）是1989年成立的美国上市企业，主营商业智能与移动软件业务，旗下产品可帮助企业分析内外部数据以支撑经营决策，还可用于移动应用开发，总部位于弗吉尼亚州泰森斯角，商业分析赛道核心竞品包括SAP等。
PDF Solutions Inc是一家总部位于美国加利福尼亚州圣克拉拉的跨国企业，主营软件业务与工程技术服务，目前在纳斯达克交易所挂牌上市，股票代码为PDFS。
MSTR vs PDFS — 直观对比
营收规模更大
MSTR
是对方的2.0倍
$62.4M
营收增速更快
PDFS
高出22.7%
1.9%
两年增速更快
PDFS
近两年复合增速
3.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $123.0M | $62.4M |
| 净利润 | — | $-48.0K |
| 毛利率 | 66.1% | 72.9% |
| 营业利润率 | — | 5.5% |
| 净利率 | — | -0.1% |
| 营收同比 | 1.9% | 24.6% |
| 净利润同比 | — | -108.9% |
| 每股收益（稀释后） | — | $0.00 |
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MSTRPDFS
| Q4 25 | $123.0M | $62.4M | ||
| Q3 25 | $128.7M | $57.1M | ||
| Q2 25 | $114.5M | $51.7M | ||
| Q1 25 | $111.1M | $47.8M | ||
| Q4 24 | $120.7M | $50.1M | ||
| Q3 24 | $116.1M | $46.4M | ||
| Q2 24 | $111.4M | $41.7M | ||
| Q1 24 | $115.2M | $41.3M |
净利润MSTRPDFS
| Q4 25 | — | $-48.0K | ||
| Q3 25 | $2.8B | $1.3M | ||
| Q2 25 | $10.0B | $1.1M | ||
| Q1 25 | $-4.2B | $-3.0M | ||
| Q4 24 | $-670.8M | $539.0K | ||
| Q3 24 | $-340.2M | $2.2M | ||
| Q2 24 | $-102.6M | $1.7M | ||
| Q1 24 | $-53.1M | $-393.0K |
毛利率MSTRPDFS
| Q4 25 | 66.1% | 72.9% | ||
| Q3 25 | 70.5% | 72.3% | ||
| Q2 25 | 68.8% | 71.2% | ||
| Q1 25 | 69.4% | 72.9% | ||
| Q4 24 | 71.7% | 68.3% | ||
| Q3 24 | 70.4% | 73.1% | ||
| Q2 24 | 72.2% | 70.6% | ||
| Q1 24 | 74.0% | 67.3% |
营业利润率MSTRPDFS
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 8.5% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | -5331.4% | -7.4% | ||
| Q4 24 | -842.1% | 1.0% | ||
| Q3 24 | -372.7% | 4.6% | ||
| Q2 24 | -179.7% | 0.6% | ||
| Q1 24 | -176.8% | -4.7% |
净利率MSTRPDFS
| Q4 25 | — | -0.1% | ||
| Q3 25 | 2164.1% | 2.3% | ||
| Q2 25 | 8752.7% | 2.2% | ||
| Q1 25 | -3797.2% | -6.3% | ||
| Q4 24 | -555.8% | 1.1% | ||
| Q3 24 | -293.1% | 4.8% | ||
| Q2 24 | -92.0% | 4.1% | ||
| Q1 24 | -46.1% | -1.0% |
每股收益（稀释后）MSTRPDFS
| Q4 25 | — | $0.00 | ||
| Q3 25 | $8.42 | $0.03 | ||
| Q2 25 | $32.60 | $0.03 | ||
| Q1 25 | $-16.49 | $-0.08 | ||
| Q4 24 | $4.49 | $0.01 | ||
| Q3 24 | $-1.72 | $0.06 | ||
| Q2 24 | $-0.57 | $0.04 | ||
| Q1 24 | $-0.31 | $-0.01 |
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 | $2.3B | $42.2M |
| 总债务越低越好 | $8.2B | $67.0M |
| 股东权益账面价值 | $44.1B | $271.0M |
| 总资产 | $61.6B | $418.7M |
| 负债/权益比越低杠杆越低 | 0.19× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资MSTRPDFS
| Q4 25 | $2.3B | $42.2M | ||
| Q3 25 | $54.3M | $35.9M | ||
| Q2 25 | $50.1M | $40.4M | ||
| Q1 25 | $60.3M | $54.1M | ||
| Q4 24 | $38.1M | $114.9M | ||
| Q3 24 | $46.3M | $120.2M | ||
| Q2 24 | $66.9M | $117.9M | ||
| Q1 24 | $81.3M | $122.9M |
总债务MSTRPDFS
| Q4 25 | $8.2B | $67.0M | ||
| Q3 25 | $8.2B | $67.6M | ||
| Q2 25 | $8.2B | $68.1M | ||
| Q1 25 | $8.1B | $68.7M | ||
| Q4 24 | $7.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $3.6B | — |
股东权益MSTRPDFS
| Q4 25 | $44.1B | $271.0M | ||
| Q3 25 | $52.3B | $264.4M | ||
| Q2 25 | $47.5B | $257.5M | ||
| Q1 25 | $32.2B | $249.0M | ||
| Q4 24 | $18.2B | $246.0M | ||
| Q3 24 | $3.8B | $240.5M | ||
| Q2 24 | $2.8B | $232.2M | ||
| Q1 24 | $2.4B | $225.4M |
总资产MSTRPDFS
| Q4 25 | $61.6B | $418.7M | ||
| Q3 25 | $73.6B | $406.4M | ||
| Q2 25 | $64.8B | $391.1M | ||
| Q1 25 | $43.9B | $390.0M | ||
| Q4 24 | $25.8B | $315.3M | ||
| Q3 24 | $8.3B | $307.4M | ||
| Q2 24 | $7.1B | $298.0M | ||
| Q1 24 | $6.4B | $286.8M |
负债/权益比MSTRPDFS
| Q4 25 | 0.19× | 0.25× | ||
| Q3 25 | 0.16× | 0.26× | ||
| Q2 25 | 0.17× | 0.26× | ||
| Q1 25 | 0.25× | 0.28× | ||
| Q4 24 | 0.39× | — | ||
| Q3 24 | 1.12× | — | ||
| Q2 24 | 1.36× | — | ||
| Q1 24 | 1.48× | — |
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 | — | $17.3M |
| 自由现金流经营现金流 - 资本支出 | — | $7.5M |
| 自由现金流率自由现金流/营收 | — | 12.1% |
| 资本支出强度资本支出/营收 | — | 15.7% |
| 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 | — | $-8.6M |
8季度趋势，按日历期对齐
经营现金流MSTRPDFS
| Q4 25 | — | $17.3M | ||
| Q3 25 | $-8.3M | $3.3M | ||
| Q2 25 | $-34.9M | $-5.2M | ||
| Q1 25 | $-2.4M | $8.6M | ||
| Q4 24 | $-17.3M | $1.6M | ||
| Q3 24 | $-41.0M | $9.3M | ||
| Q2 24 | $-23.3M | $684.0K | ||
| Q1 24 | $28.6M | $-1.9M |
自由现金流MSTRPDFS
| Q4 25 | — | $7.5M | ||
| Q3 25 | $-11.1M | $-2.9M | ||
| Q2 25 | $-37.0M | $-13.8M | ||
| Q1 25 | $-5.1M | $535.0K | ||
| Q4 24 | $-17.6M | $-4.0M | ||
| Q3 24 | $-41.4M | $5.1M | ||
| Q2 24 | $-24.1M | $-4.6M | ||
| Q1 24 | $27.0M | $-3.9M |
自由现金流率MSTRPDFS
| Q4 25 | — | 12.1% | ||
| Q3 25 | -8.6% | -5.1% | ||
| Q2 25 | -32.3% | -26.6% | ||
| Q1 25 | -4.6% | 1.1% | ||
| Q4 24 | -14.6% | -8.0% | ||
| Q3 24 | -35.7% | 11.0% | ||
| Q2 24 | -21.6% | -11.1% | ||
| Q1 24 | 23.5% | -9.4% |
资本支出强度MSTRPDFS
| Q4 25 | — | 15.7% | ||
| Q3 25 | 2.2% | 10.8% | ||
| Q2 25 | 1.8% | 16.5% | ||
| Q1 25 | 2.5% | 17.0% | ||
| Q4 24 | 0.2% | 11.3% | ||
| Q3 24 | 0.4% | 9.0% | ||
| Q2 24 | 0.6% | 12.8% | ||
| Q1 24 | 1.3% | 4.9% |
现金转化率MSTRPDFS
| Q4 25 | — | — | ||
| Q3 25 | -0.00× | 2.54× | ||
| Q2 25 | -0.00× | -4.55× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.98× | ||
| Q3 24 | — | 4.20× | ||
| Q2 24 | — | 0.40× | ||
| 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
MSTR
暂无分部数据
PDFS
| Volumebased | $38.0M | 61% |
| Other | $24.4M | 39% |
