vs
Match Group（MTCH）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
Match Group的季度营收约是Reddit, Inc.的1.2倍（$878.0M vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 23.9%，领先10.8%），Reddit, Inc.同比增速更快（69.7% vs 2.1%），Match Group自由现金流更多（$308.1M vs $263.6M），过去两年Reddit, Inc.的营收复合增速更高（72.8% vs 1.1%）
美国互联网科技企业Match Group总部位于得克萨斯州达拉斯，旗下拥有全球规模最大的在线约会服务品牌矩阵，运营Tinder、Hinge、Plenty of Fish等多款全球知名约会产品。2020年7月公司从IAC分拆为独立上市公司，截至2019年全球付费订阅用户达930万，其中近半数来自北美地区。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
MTCH vs RDDT — 直观对比
营收规模更大
MTCH
是对方的1.2倍
$725.6M
营收增速更快
RDDT
高出67.6%
2.1%
净利率更高
RDDT
高出10.8%
23.9%
自由现金流更多
MTCH
多$44.5M
$263.6M
两年增速更快
RDDT
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $878.0M | $725.6M |
| 净利润 | $209.7M | $251.6M |
| 毛利率 | 74.7% | 91.9% |
| 营业利润率 | 32.4% | 31.9% |
| 净利率 | 23.9% | 34.7% |
| 营收同比 | 2.1% | 69.7% |
| 净利润同比 | 32.5% | 254.2% |
| 每股收益（稀释后） | $0.83 | $1.24 |
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MTCHRDDT
| Q4 25 | $878.0M | $725.6M | ||
| Q3 25 | $914.3M | $584.9M | ||
| Q2 25 | $863.7M | $499.6M | ||
| Q1 25 | $831.2M | $392.4M | ||
| Q4 24 | $860.2M | $427.7M | ||
| Q3 24 | $895.5M | $348.4M | ||
| Q2 24 | $864.1M | $281.2M | ||
| Q1 24 | $859.6M | $243.0M |
净利润MTCHRDDT
| Q4 25 | $209.7M | $251.6M | ||
| Q3 25 | $160.8M | $162.7M | ||
| Q2 25 | $125.5M | $89.3M | ||
| Q1 25 | $117.6M | $26.2M | ||
| Q4 24 | $158.3M | $71.0M | ||
| Q3 24 | $136.5M | $29.9M | ||
| Q2 24 | $133.3M | $-10.1M | ||
| Q1 24 | $123.2M | $-575.1M |
毛利率MTCHRDDT
| Q4 25 | 74.7% | 91.9% | ||
| Q3 25 | 73.0% | 91.0% | ||
| Q2 25 | 72.0% | 90.8% | ||
| Q1 25 | 71.5% | 90.5% | ||
| Q4 24 | 72.5% | 92.6% | ||
| Q3 24 | 71.7% | 90.1% | ||
| Q2 24 | 71.6% | 89.5% | ||
| Q1 24 | 70.1% | 88.6% |
营业利润率MTCHRDDT
| Q4 25 | 32.4% | 31.9% | ||
| Q3 25 | 24.2% | 23.7% | ||
| Q2 25 | 22.5% | 13.6% | ||
| Q1 25 | 20.8% | 1.0% | ||
| Q4 24 | 26.0% | 12.4% | ||
| Q3 24 | 23.5% | 2.0% | ||
| Q2 24 | 23.7% | -11.0% | ||
| Q1 24 | 21.5% | -242.5% |
净利率MTCHRDDT
| Q4 25 | 23.9% | 34.7% | ||
| Q3 25 | 17.6% | 27.8% | ||
| Q2 25 | 14.5% | 17.9% | ||
| Q1 25 | 14.1% | 6.7% | ||
| Q4 24 | 18.4% | 16.6% | ||
| Q3 24 | 15.2% | 8.6% | ||
| Q2 24 | 15.4% | -3.6% | ||
| Q1 24 | 14.3% | -236.7% |
每股收益（稀释后）MTCHRDDT
| Q4 25 | $0.83 | $1.24 | ||
| Q3 25 | $0.62 | $0.80 | ||
| Q2 25 | $0.49 | $0.45 | ||
| Q1 25 | $0.44 | $0.13 | ||
| Q4 24 | $0.59 | $4.76 | ||
| Q3 24 | $0.51 | $0.16 | ||
| Q2 24 | $0.48 | $-0.06 | ||
| Q1 24 | $0.44 | $-8.19 |
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 | $1.0B | $953.6M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $-253.5M | $2.9B |
| 总资产 | $4.5B | $3.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MTCHRDDT
| Q4 25 | $1.0B | $953.6M | ||
| Q3 25 | $1.1B | $911.7M | ||
| Q2 25 | $340.4M | $734.1M | ||
| Q1 25 | $414.2M | $635.7M | ||
| Q4 24 | $970.7M | $562.1M | ||
| Q3 24 | $860.9M | $515.9M | ||
| Q2 24 | $843.6M | $468.0M | ||
| Q1 24 | $920.9M | $968.5M |
总债务MTCHRDDT
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.8B | — | ||
| Q3 24 | $3.8B | — | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $3.8B | — |
股东权益MTCHRDDT
| Q4 25 | $-253.5M | $2.9B | ||
| Q3 25 | $-223.9M | $2.6B | ||
| Q2 25 | $-230.9M | $2.4B | ||
| Q1 25 | $-182.7M | $2.2B | ||
| Q4 24 | $-63.7M | $2.1B | ||
| Q3 24 | $-88.5M | $2.0B | ||
| Q2 24 | $-130.2M | $1.9B | ||
| Q1 24 | $-107.8M | $1.8B |
总资产MTCHRDDT
| Q4 25 | $4.5B | $3.2B | ||
| Q3 25 | $4.5B | $2.9B | ||
| Q2 25 | $3.9B | $2.6B | ||
| Q1 25 | $3.9B | $2.4B | ||
| Q4 24 | $4.5B | $2.3B | ||
| Q3 24 | $4.4B | $2.2B | ||
| Q2 24 | $4.4B | $2.1B | ||
| Q1 24 | $4.4B | $2.0B |
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 | $322.8M | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $308.1M | $263.6M |
| 自由现金流率自由现金流/营收 | 35.1% | 36.3% |
| 资本支出强度资本支出/营收 | 1.7% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.54× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $684.2M |
8季度趋势，按日历期对齐
经营现金流MTCHRDDT
| Q4 25 | $322.8M | $266.8M | ||
| Q3 25 | $320.6M | $185.2M | ||
| Q2 25 | $243.8M | $111.3M | ||
| Q1 25 | $193.1M | $127.6M | ||
| Q4 24 | $254.7M | $90.0M | ||
| Q3 24 | $264.9M | $71.6M | ||
| Q2 24 | $129.0M | $28.4M | ||
| Q1 24 | $284.1M | $32.1M |
自由现金流MTCHRDDT
| Q4 25 | $308.1M | $263.6M | ||
| Q3 25 | $306.8M | $183.1M | ||
| Q2 25 | $231.0M | $110.8M | ||
| Q1 25 | $177.7M | $126.6M | ||
| Q4 24 | $247.1M | $89.2M | ||
| Q3 24 | $251.8M | $70.3M | ||
| Q2 24 | $116.3M | $27.2M | ||
| Q1 24 | $266.9M | $29.2M |
自由现金流率MTCHRDDT
| Q4 25 | 35.1% | 36.3% | ||
| Q3 25 | 33.6% | 31.3% | ||
| Q2 25 | 26.7% | 22.2% | ||
| Q1 25 | 21.4% | 32.3% | ||
| Q4 24 | 28.7% | 20.8% | ||
| Q3 24 | 28.1% | 20.2% | ||
| Q2 24 | 13.5% | 9.7% | ||
| Q1 24 | 31.0% | 12.0% |
资本支出强度MTCHRDDT
| Q4 25 | 1.7% | 0.4% | ||
| Q3 25 | 1.5% | 0.4% | ||
| Q2 25 | 1.5% | 0.1% | ||
| Q1 25 | 1.9% | 0.2% | ||
| Q4 24 | 0.9% | 0.2% | ||
| Q3 24 | 1.5% | 0.4% | ||
| Q2 24 | 1.5% | 0.4% | ||
| Q1 24 | 2.0% | 1.2% |
现金转化率MTCHRDDT
| Q4 25 | 1.54× | 1.06× | ||
| Q3 25 | 1.99× | 1.14× | ||
| Q2 25 | 1.94× | 1.25× | ||
| Q1 25 | 1.64× | 4.88× | ||
| Q4 24 | 1.61× | 1.27× | ||
| Q3 24 | 1.94× | 2.40× | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | 2.31× | — |
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
MTCH
| Tinder Segment | $479.3M | 55% |
| Hinge Segment | $186.5M | 21% |
| Evergreen And Emerging Segment | $148.1M | 17% |
| MG Asia Segment | $65.8M | 7% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
