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微宏控股（MVST）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
微宏控股的季度营收约是PDF SOLUTIONS INC的1.5倍（$96.4M vs $62.4M），微宏控股净利率更高（17.2% vs -0.1%，领先17.2%），PDF SOLUTIONS INC同比增速更快（24.6% vs -15.0%），微宏控股自由现金流更多（$15.8M vs $7.5M），过去两年PDF SOLUTIONS INC的营收复合增速更高（22.9% vs 8.9%）
微宏控股是一家电池科技企业，总部位于美国得克萨斯州斯塔福德，在纳斯达克上市。公司主要面向商用电动汽车与并网储能系统，设计、研发并生产电池组件及电池系统，目前在美国、中国、德国均设有生产基地。
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。
MVST vs PDFS — 直观对比
营收规模更大
MVST
是对方的1.5倍
$62.4M
营收增速更快
PDFS
高出39.6%
-15.0%
净利率更高
MVST
高出17.2%
-0.1%
自由现金流更多
MVST
多$8.2M
$7.5M
两年增速更快
PDFS
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $96.4M | $62.4M |
| 净利润 | $16.5M | $-48.0K |
| 毛利率 | 1.0% | 72.9% |
| 营业利润率 | -42.7% | 5.5% |
| 净利率 | 17.2% | -0.1% |
| 营收同比 | -15.0% | 24.6% |
| 净利润同比 | 120.1% | -108.9% |
| 每股收益（稀释后） | $0.19 | $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MVSTPDFS
| Q4 25 | $96.4M | $62.4M | ||
| Q3 25 | $123.3M | $57.1M | ||
| Q2 25 | $91.3M | $51.7M | ||
| Q1 25 | $116.5M | $47.8M | ||
| Q4 24 | $113.4M | $50.1M | ||
| Q3 24 | $101.4M | $46.4M | ||
| Q2 24 | $83.7M | $41.7M | ||
| Q1 24 | $81.4M | $41.3M |
净利润MVSTPDFS
| Q4 25 | $16.5M | $-48.0K | ||
| Q3 25 | $-1.5M | $1.3M | ||
| Q2 25 | $-106.1M | $1.1M | ||
| Q1 25 | $61.8M | $-3.0M | ||
| Q4 24 | $-82.3M | $539.0K | ||
| Q3 24 | $13.2M | $2.2M | ||
| Q2 24 | $-101.6M | $1.7M | ||
| Q1 24 | $-24.8M | $-393.0K |
毛利率MVSTPDFS
| Q4 25 | 1.0% | 72.9% | ||
| Q3 25 | 37.6% | 72.3% | ||
| Q2 25 | 34.7% | 71.2% | ||
| Q1 25 | 36.9% | 72.9% | ||
| Q4 24 | 36.6% | 68.3% | ||
| Q3 24 | 33.2% | 73.1% | ||
| Q2 24 | 32.5% | 70.6% | ||
| Q1 24 | 21.2% | 67.3% |
营业利润率MVSTPDFS
| Q4 25 | -42.7% | 5.5% | ||
| Q3 25 | 10.5% | 8.5% | ||
| Q2 25 | 17.8% | 2.2% | ||
| Q1 25 | 16.3% | -7.4% | ||
| Q4 24 | -1.2% | 1.0% | ||
| Q3 24 | 7.1% | 4.6% | ||
| Q2 24 | -118.0% | 0.6% | ||
| Q1 24 | -28.4% | -4.7% |
净利率MVSTPDFS
| Q4 25 | 17.2% | -0.1% | ||
| Q3 25 | -1.2% | 2.3% | ||
| Q2 25 | -116.1% | 2.2% | ||
| Q1 25 | 53.0% | -6.3% | ||
| Q4 24 | -72.6% | 1.1% | ||
| Q3 24 | 13.1% | 4.8% | ||
| Q2 24 | -121.4% | 4.1% | ||
| Q1 24 | -30.5% | -1.0% |
每股收益（稀释后）MVSTPDFS
| Q4 25 | $0.19 | $0.00 | ||
| Q3 25 | $0.00 | $0.03 | ||
| Q2 25 | $-0.33 | $0.03 | ||
| Q1 25 | $0.05 | $-0.08 | ||
| Q4 24 | $-0.24 | $0.01 | ||
| Q3 24 | $0.03 | $0.06 | ||
| Q2 24 | $-0.32 | $0.04 | ||
| Q1 24 | $-0.08 | $-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 | $105.0M | $42.2M |
| 总债务越低越好 | $13.2M | $67.0M |
| 股东权益账面价值 | $410.5M | $271.0M |
| 总资产 | $1.0B | $418.7M |
| 负债/权益比越低杠杆越低 | 0.03× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资MVSTPDFS
| Q4 25 | $105.0M | $42.2M | ||
| Q3 25 | $90.7M | $35.9M | ||
| Q2 25 | $99.7M | $40.4M | ||
| Q1 25 | $90.9M | $54.1M | ||
| Q4 24 | $73.0M | $114.9M | ||
| Q3 24 | $63.6M | $120.2M | ||
| Q2 24 | $68.2M | $117.9M | ||
| Q1 24 | $39.5M | $122.9M |
总债务MVSTPDFS
| Q4 25 | $13.2M | $67.0M | ||
| Q3 25 | $34.4M | $67.6M | ||
| Q2 25 | $34.2M | $68.1M | ||
| Q1 25 | $41.3M | $68.7M | ||
| Q4 24 | $41.1M | — | ||
| Q3 24 | $53.4M | — | ||
| Q2 24 | $34.2M | — | ||
| Q1 24 | $43.0M | — |
股东权益MVSTPDFS
| Q4 25 | $410.5M | $271.0M | ||
| Q3 25 | $358.1M | $264.4M | ||
| Q2 25 | $356.1M | $257.5M | ||
| Q1 25 | $454.2M | $249.0M | ||
| Q4 24 | $387.9M | $246.0M | ||
| Q3 24 | $486.1M | $240.5M | ||
| Q2 24 | $455.0M | $232.2M | ||
| Q1 24 | $546.1M | $225.4M |
总资产MVSTPDFS
| Q4 25 | $1.0B | $418.7M | ||
| Q3 25 | $1.0B | $406.4M | ||
| Q2 25 | $1.0B | $391.1M | ||
| Q1 25 | $982.9M | $390.0M | ||
| Q4 24 | $951.9M | $315.3M | ||
| Q3 24 | $997.9M | $307.4M | ||
| Q2 24 | $961.4M | $298.0M | ||
| Q1 24 | $1.0B | $286.8M |
负债/权益比MVSTPDFS
| Q4 25 | 0.03× | 0.25× | ||
| Q3 25 | 0.10× | 0.26× | ||
| Q2 25 | 0.10× | 0.26× | ||
| Q1 25 | 0.09× | 0.28× | ||
| Q4 24 | 0.11× | — | ||
| Q3 24 | 0.11× | — | ||
| Q2 24 | 0.08× | — | ||
| Q1 24 | 0.08× | — |
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 | $16.4M | $17.3M |
| 自由现金流经营现金流 - 资本支出 | $15.8M | $7.5M |
| 自由现金流率自由现金流/营收 | 16.4% | 12.1% |
| 资本支出强度资本支出/营收 | 0.7% | 15.7% |
| 现金转化率经营现金流/净利润 | 0.99× | — |
| 过去12个月自由现金流最近4个季度 | $56.1M | $-8.6M |
8季度趋势，按日历期对齐
经营现金流MVSTPDFS
| Q4 25 | $16.4M | $17.3M | ||
| Q3 25 | $15.2M | $3.3M | ||
| Q2 25 | $37.2M | $-5.2M | ||
| Q1 25 | $7.2M | $8.6M | ||
| Q4 24 | $6.1M | $1.6M | ||
| Q3 24 | $-5.4M | $9.3M | ||
| Q2 24 | $111.0K | $684.0K | ||
| Q1 24 | $2.0M | $-1.9M |
自由现金流MVSTPDFS
| Q4 25 | $15.8M | $7.5M | ||
| Q3 25 | $1.2M | $-2.9M | ||
| Q2 25 | $34.3M | $-13.8M | ||
| Q1 25 | $4.8M | $535.0K | ||
| Q4 24 | $5.7M | $-4.0M | ||
| Q3 24 | $-19.6M | $5.1M | ||
| Q2 24 | $-2.8M | $-4.6M | ||
| Q1 24 | $-8.2M | $-3.9M |
自由现金流率MVSTPDFS
| Q4 25 | 16.4% | 12.1% | ||
| Q3 25 | 1.0% | -5.1% | ||
| Q2 25 | 37.5% | -26.6% | ||
| Q1 25 | 4.1% | 1.1% | ||
| Q4 24 | 5.1% | -8.0% | ||
| Q3 24 | -19.3% | 11.0% | ||
| Q2 24 | -3.4% | -11.1% | ||
| Q1 24 | -10.1% | -9.4% |
资本支出强度MVSTPDFS
| Q4 25 | 0.7% | 15.7% | ||
| Q3 25 | 11.3% | 10.8% | ||
| Q2 25 | 3.1% | 16.5% | ||
| Q1 25 | 2.0% | 17.0% | ||
| Q4 24 | 0.3% | 11.3% | ||
| Q3 24 | 14.0% | 9.0% | ||
| Q2 24 | 3.5% | 12.8% | ||
| Q1 24 | 12.6% | 4.9% |
现金转化率MVSTPDFS
| Q4 25 | 0.99× | — | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | -4.55× | ||
| Q1 25 | 0.12× | — | ||
| Q4 24 | — | 2.98× | ||
| Q3 24 | -0.41× | 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
MVST
| Europe | $35.1M | 36% |
| CN | $32.5M | 34% |
| US | $21.5M | 22% |
| Other | $7.2M | 8% |
PDFS
| Volumebased | $38.0M | 61% |
| Other | $24.4M | 39% |
