vs
Match Group（MTCH）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.4倍（$878.0M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 23.9%，领先10.6%），Royalty Pharma plc同比增速更快（4.8% vs 2.1%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% 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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
MTCH vs RPRX — 直观对比
营收规模更大
MTCH
是对方的1.4倍
$622.0M
营收增速更快
RPRX
高出2.7%
2.1%
净利率更高
RPRX
高出10.6%
23.9%
两年增速更快
RPRX
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $878.0M | $622.0M |
| 净利润 | $209.7M | $214.2M |
| 毛利率 | 74.7% | — |
| 营业利润率 | 32.4% | 62.4% |
| 净利率 | 23.9% | 34.4% |
| 营收同比 | 2.1% | 4.8% |
| 净利润同比 | 32.5% | 2.9% |
| 每股收益（稀释后） | $0.83 | $0.49 |
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MTCHRPRX
| Q4 25 | $878.0M | $622.0M | ||
| Q3 25 | $914.3M | $609.3M | ||
| Q2 25 | $863.7M | $578.7M | ||
| Q1 25 | $831.2M | $568.2M | ||
| Q4 24 | $860.2M | $593.6M | ||
| Q3 24 | $895.5M | $564.7M | ||
| Q2 24 | $864.1M | $537.3M | ||
| Q1 24 | $859.6M | $568.0M |
净利润MTCHRPRX
| Q4 25 | $209.7M | $214.2M | ||
| Q3 25 | $160.8M | $288.2M | ||
| Q2 25 | $125.5M | $30.2M | ||
| Q1 25 | $117.6M | $238.3M | ||
| Q4 24 | $158.3M | $208.2M | ||
| Q3 24 | $136.5M | $544.0M | ||
| Q2 24 | $133.3M | $102.0M | ||
| Q1 24 | $123.2M | $4.8M |
毛利率MTCHRPRX
| Q4 25 | 74.7% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 72.0% | — | ||
| Q1 25 | 71.5% | — | ||
| Q4 24 | 72.5% | — | ||
| Q3 24 | 71.7% | — | ||
| Q2 24 | 71.6% | — | ||
| Q1 24 | 70.1% | — |
营业利润率MTCHRPRX
| Q4 25 | 32.4% | 62.4% | ||
| Q3 25 | 24.2% | 70.1% | ||
| Q2 25 | 22.5% | 36.3% | ||
| Q1 25 | 20.8% | 94.0% | ||
| Q4 24 | 26.0% | 60.9% | ||
| Q3 24 | 23.5% | — | ||
| Q2 24 | 23.7% | 50.2% | ||
| Q1 24 | 21.5% | -13.0% |
净利率MTCHRPRX
| Q4 25 | 23.9% | 34.4% | ||
| Q3 25 | 17.6% | 47.3% | ||
| Q2 25 | 14.5% | 5.2% | ||
| Q1 25 | 14.1% | 41.9% | ||
| Q4 24 | 18.4% | 35.1% | ||
| Q3 24 | 15.2% | 96.3% | ||
| Q2 24 | 15.4% | 19.0% | ||
| Q1 24 | 14.3% | 0.8% |
每股收益（稀释后）MTCHRPRX
| Q4 25 | $0.83 | $0.49 | ||
| Q3 25 | $0.62 | $0.67 | ||
| Q2 25 | $0.49 | $0.07 | ||
| Q1 25 | $0.44 | $0.55 | ||
| Q4 24 | $0.59 | $0.46 | ||
| Q3 24 | $0.51 | $1.21 | ||
| Q2 24 | $0.48 | $0.23 | ||
| Q1 24 | $0.44 | $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 | $1.0B | $618.7M |
| 总债务越低越好 | $3.5B | $9.0B |
| 股东权益账面价值 | $-253.5M | $9.7B |
| 总资产 | $4.5B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资MTCHRPRX
| Q4 25 | $1.0B | $618.7M | ||
| Q3 25 | $1.1B | $938.9M | ||
| Q2 25 | $340.4M | $631.9M | ||
| Q1 25 | $414.2M | $1.1B | ||
| Q4 24 | $970.7M | $929.0M | ||
| Q3 24 | $860.9M | $950.1M | ||
| Q2 24 | $843.6M | $1.8B | ||
| Q1 24 | $920.9M | $843.0M |
总债务MTCHRPRX
| Q4 25 | $3.5B | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | $3.4B | $7.6B | ||
| Q4 24 | $3.8B | $7.6B | ||
| Q3 24 | $3.8B | $7.6B | ||
| Q2 24 | $3.8B | $7.6B | ||
| Q1 24 | $3.8B | $6.1B |
股东权益MTCHRPRX
| Q4 25 | $-253.5M | $9.7B | ||
| Q3 25 | $-223.9M | $9.6B | ||
| Q2 25 | $-230.9M | $9.5B | ||
| Q1 25 | $-182.7M | $9.8B | ||
| Q4 24 | $-63.7M | $10.3B | ||
| Q3 24 | $-88.5M | $10.3B | ||
| Q2 24 | $-130.2M | $9.8B | ||
| Q1 24 | $-107.8M | $9.9B |
总资产MTCHRPRX
| Q4 25 | $4.5B | $19.6B | ||
| Q3 25 | $4.5B | $19.3B | ||
| Q2 25 | $3.9B | $18.3B | ||
| Q1 25 | $3.9B | $17.6B | ||
| Q4 24 | $4.5B | $18.2B | ||
| Q3 24 | $4.4B | $18.0B | ||
| Q2 24 | $4.4B | $17.7B | ||
| Q1 24 | $4.4B | $16.1B |
负债/权益比MTCHRPRX
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $308.1M | — |
| 自由现金流率自由现金流/营收 | 35.1% | — |
| 资本支出强度资本支出/营收 | 1.7% | — |
| 现金转化率经营现金流/净利润 | 1.54× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $1.0B | — |
8季度趋势，按日历期对齐
经营现金流MTCHRPRX
| Q4 25 | $322.8M | $827.1M | ||
| Q3 25 | $320.6M | $702.6M | ||
| Q2 25 | $243.8M | $364.0M | ||
| Q1 25 | $193.1M | $596.1M | ||
| Q4 24 | $254.7M | $742.5M | ||
| Q3 24 | $264.9M | $703.6M | ||
| Q2 24 | $129.0M | $658.2M | ||
| Q1 24 | $284.1M | $664.6M |
自由现金流MTCHRPRX
| Q4 25 | $308.1M | — | ||
| Q3 25 | $306.8M | — | ||
| Q2 25 | $231.0M | — | ||
| Q1 25 | $177.7M | — | ||
| Q4 24 | $247.1M | — | ||
| Q3 24 | $251.8M | — | ||
| Q2 24 | $116.3M | — | ||
| Q1 24 | $266.9M | — |
自由现金流率MTCHRPRX
| Q4 25 | 35.1% | — | ||
| Q3 25 | 33.6% | — | ||
| Q2 25 | 26.7% | — | ||
| Q1 25 | 21.4% | — | ||
| Q4 24 | 28.7% | — | ||
| Q3 24 | 28.1% | — | ||
| Q2 24 | 13.5% | — | ||
| Q1 24 | 31.0% | — |
资本支出强度MTCHRPRX
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 2.0% | — |
现金转化率MTCHRPRX
| Q4 25 | 1.54× | 3.86× | ||
| Q3 25 | 1.99× | 2.44× | ||
| Q2 25 | 1.94× | 12.06× | ||
| Q1 25 | 1.64× | 2.50× | ||
| Q4 24 | 1.61× | 3.57× | ||
| Q3 24 | 1.94× | 1.29× | ||
| Q2 24 | 0.97× | 6.45× | ||
| Q1 24 | 2.31× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
