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微策略（MSTR）与Proto Labs Inc（PRLB）财务数据对比。点击上方公司名可切换其他公司
Proto Labs Inc的季度营收约是微策略的1.1倍（$136.5M vs $123.0M），Proto Labs Inc同比增速更快（12.1% vs 1.9%），过去两年Proto Labs Inc的营收复合增速更高（3.3% 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。
Proto Labs是一家提供快速制造服务的企业，可通过3D打印、CNC加工、钣金加工以及注塑成型工艺，为客户生产用于原型制作和量产的定制零部件，产品广泛应用于医疗设备、航空航天、电子、家电、汽车、消费品等多个领域，公司总部位于美国明尼苏达州，在美国多地设有生产基地。
MSTR vs PRLB — 直观对比
营收规模更大
PRLB
是对方的1.1倍
$123.0M
营收增速更快
PRLB
高出10.2%
1.9%
两年增速更快
PRLB
近两年复合增速
3.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $123.0M | $136.5M |
| 净利润 | — | — |
| 毛利率 | 66.1% | 44.2% |
| 营业利润率 | — | 5.0% |
| 净利率 | — | — |
| 营收同比 | 1.9% | 12.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | $0.25 |
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MSTRPRLB
| Q4 25 | $123.0M | $136.5M | ||
| Q3 25 | $128.7M | $135.4M | ||
| Q2 25 | $114.5M | $135.1M | ||
| Q1 25 | $111.1M | $126.2M | ||
| Q4 24 | $120.7M | $121.8M | ||
| Q3 24 | $116.1M | $125.6M | ||
| Q2 24 | $111.4M | $125.6M | ||
| Q1 24 | $115.2M | $127.9M |
净利润MSTRPRLB
| Q4 25 | — | — | ||
| Q3 25 | $2.8B | $7.2M | ||
| Q2 25 | $10.0B | $4.4M | ||
| Q1 25 | $-4.2B | $3.6M | ||
| Q4 24 | $-670.8M | — | ||
| Q3 24 | $-340.2M | $7.2M | ||
| Q2 24 | $-102.6M | $4.5M | ||
| Q1 24 | $-53.1M | $5.3M |
毛利率MSTRPRLB
| Q4 25 | 66.1% | 44.2% | ||
| Q3 25 | 70.5% | 45.3% | ||
| Q2 25 | 68.8% | 44.3% | ||
| Q1 25 | 69.4% | 44.1% | ||
| Q4 24 | 71.7% | 42.7% | ||
| Q3 24 | 70.4% | 45.6% | ||
| Q2 24 | 72.2% | 45.0% | ||
| Q1 24 | 74.0% | 44.9% |
营业利润率MSTRPRLB
| Q4 25 | — | 5.0% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | -5331.4% | 3.6% | ||
| Q4 24 | -842.1% | -1.2% | ||
| Q3 24 | -372.7% | 6.8% | ||
| Q2 24 | -179.7% | 4.8% | ||
| Q1 24 | -176.8% | 5.3% |
净利率MSTRPRLB
| Q4 25 | — | — | ||
| Q3 25 | 2164.1% | 5.3% | ||
| Q2 25 | 8752.7% | 3.3% | ||
| Q1 25 | -3797.2% | 2.9% | ||
| Q4 24 | -555.8% | — | ||
| Q3 24 | -293.1% | 5.7% | ||
| Q2 24 | -92.0% | 3.6% | ||
| Q1 24 | -46.1% | 4.1% |
每股收益（稀释后）MSTRPRLB
| Q4 25 | — | $0.25 | ||
| Q3 25 | $8.42 | $0.30 | ||
| Q2 25 | $32.60 | $0.18 | ||
| Q1 25 | $-16.49 | $0.15 | ||
| Q4 24 | $4.49 | $-0.01 | ||
| Q3 24 | $-1.72 | $0.29 | ||
| Q2 24 | $-0.57 | $0.18 | ||
| Q1 24 | $-0.31 | $0.20 |
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 | $128.1M |
| 总债务越低越好 | $8.2B | — |
| 股东权益账面价值 | $44.1B | $673.9M |
| 总资产 | $61.6B | $763.4M |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
现金及短期投资MSTRPRLB
| Q4 25 | $2.3B | $128.1M | ||
| Q3 25 | $54.3M | $119.2M | ||
| Q2 25 | $50.1M | $103.2M | ||
| Q1 25 | $60.3M | $96.8M | ||
| Q4 24 | $38.1M | $103.1M | ||
| Q3 24 | $46.3M | $100.5M | ||
| Q2 24 | $66.9M | $112.9M | ||
| Q1 24 | $81.3M | $109.7M |
总债务MSTRPRLB
| Q4 25 | $8.2B | — | ||
| Q3 25 | $8.2B | — | ||
| Q2 25 | $8.2B | — | ||
| Q1 25 | $8.1B | — | ||
| Q4 24 | $7.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $3.6B | — |
股东权益MSTRPRLB
| Q4 25 | $44.1B | $673.9M | ||
| Q3 25 | $52.3B | $664.7M | ||
| Q2 25 | $47.5B | $664.7M | ||
| Q1 25 | $32.2B | $656.8M | ||
| Q4 24 | $18.2B | $670.2M | ||
| Q3 24 | $3.8B | $680.0M | ||
| Q2 24 | $2.8B | $685.2M | ||
| Q1 24 | $2.4B | $687.3M |
总资产MSTRPRLB
| Q4 25 | $61.6B | $763.4M | ||
| Q3 25 | $73.6B | $756.9M | ||
| Q2 25 | $64.8B | $743.3M | ||
| Q1 25 | $43.9B | $737.5M | ||
| Q4 24 | $25.8B | $743.5M | ||
| Q3 24 | $8.3B | $753.8M | ||
| Q2 24 | $7.1B | $758.2M | ||
| Q1 24 | $6.4B | $769.8M |
负债/权益比MSTRPRLB
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.16× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 0.25× | — | ||
| 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 | — | $16.5M |
| 自由现金流经营现金流 - 资本支出 | — | $8.4M |
| 自由现金流率自由现金流/营收 | — | 6.2% |
| 资本支出强度资本支出/营收 | — | 5.9% |
| 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 | — | $59.7M |
8季度趋势，按日历期对齐
经营现金流MSTRPRLB
| Q4 25 | — | $16.5M | ||
| Q3 25 | $-8.3M | $29.1M | ||
| Q2 25 | $-34.9M | $10.6M | ||
| Q1 25 | $-2.4M | $18.4M | ||
| Q4 24 | $-17.3M | $17.3M | ||
| Q3 24 | $-41.0M | $24.8M | ||
| Q2 24 | $-23.3M | $14.4M | ||
| Q1 24 | $28.6M | $21.3M |
自由现金流MSTRPRLB
| Q4 25 | — | $8.4M | ||
| Q3 25 | $-11.1M | $25.0M | ||
| Q2 25 | $-37.0M | $9.1M | ||
| Q1 25 | $-5.1M | $17.1M | ||
| Q4 24 | $-17.6M | $16.5M | ||
| Q3 24 | $-41.4M | $23.2M | ||
| Q2 24 | $-24.1M | $10.2M | ||
| Q1 24 | $27.0M | $18.8M |
自由现金流率MSTRPRLB
| Q4 25 | — | 6.2% | ||
| Q3 25 | -8.6% | 18.5% | ||
| Q2 25 | -32.3% | 6.7% | ||
| Q1 25 | -4.6% | 13.6% | ||
| Q4 24 | -14.6% | 13.5% | ||
| Q3 24 | -35.7% | 18.5% | ||
| Q2 24 | -21.6% | 8.2% | ||
| Q1 24 | 23.5% | 14.7% |
资本支出强度MSTRPRLB
| Q4 25 | — | 5.9% | ||
| Q3 25 | 2.2% | 3.0% | ||
| Q2 25 | 1.8% | 1.1% | ||
| Q1 25 | 2.5% | 1.0% | ||
| Q4 24 | 0.2% | 0.7% | ||
| Q3 24 | 0.4% | 1.2% | ||
| Q2 24 | 0.6% | 3.3% | ||
| Q1 24 | 1.3% | 2.0% |
现金转化率MSTRPRLB
| Q4 25 | — | — | ||
| Q3 25 | -0.00× | 4.03× | ||
| Q2 25 | -0.00× | 2.39× | ||
| Q1 25 | — | 5.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.44× | ||
| Q2 24 | — | 3.18× | ||
| Q1 24 | — | 4.05× |
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
PRLB
| CNC Machining Firstcut | $65.5M | 48% |
| Injection Molding Protomold | $47.6M | 35% |
| Three D Printing Fineline | $18.8M | 14% |
| Sheet Metal | $4.4M | 3% |
