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nCino, Inc.（NCNO）与SHOPIFY INC.（SHOP）财务数据对比。点击上方公司名可切换其他公司
SHOPIFY INC.的季度营收约是nCino, Inc.的24.1倍（$3.7B vs $152.2M），SHOPIFY INC.净利率更高（20.2% vs 4.3%，领先15.9%），SHOPIFY INC.同比增速更快（30.6% vs 9.6%），SHOPIFY INC.自由现金流更多（$715.0M vs $4.9M），过去两年SHOPIFY INC.的营收复合增速更高（40.5% vs 10.9%）
nCino, Inc.是一家总部位于美国北卡罗来纳州威尔明顿的全球金融科技企业，专注于提供云原生银行软件与核心银行平台，服务覆盖银行、信用合作社及各类大型金融机构，助力金融机构实现数字化运营升级。
Shopify是总部位于加拿大安大略省渥太华的跨国电商企业，运营零售POS系统及相关服务平台，全球客户超500万，2024年总交易处理额达2923亿美元，其中57%来自美国市场，服务客户包括特斯拉、路威酩轩、雀巢、百事、百威英博、红牛、凯悦等知名品牌。
NCNO vs SHOP — 直观对比
营收规模更大
SHOP
是对方的24.1倍
$152.2M
营收增速更快
SHOP
高出21.0%
9.6%
净利率更高
SHOP
高出15.9%
4.3%
自由现金流更多
SHOP
多$710.1M
$4.9M
两年增速更快
SHOP
近两年复合增速
10.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $152.2M | $3.7B |
| 净利润 | $6.5M | $743.0M |
| 毛利率 | 61.6% | 46.1% |
| 营业利润率 | 7.7% | 17.2% |
| 净利率 | 4.3% | 20.2% |
| 营收同比 | 9.6% | 30.6% |
| 净利润同比 | 224.5% | -42.5% |
| 每股收益（稀释后） | $0.06 | $0.58 |
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NCNOSHOP
| Q4 25 | $152.2M | $3.7B | ||
| Q3 25 | $148.8M | $2.8B | ||
| Q2 25 | $144.1M | $2.7B | ||
| Q1 25 | $141.4M | $2.4B | ||
| Q4 24 | $138.8M | $2.8B | ||
| Q3 24 | $132.4M | $2.2B | ||
| Q2 24 | $128.1M | $2.0B | ||
| Q1 24 | $123.7M | $1.9B |
净利润NCNOSHOP
| Q4 25 | $6.5M | $743.0M | ||
| Q3 25 | $-15.3M | $264.0M | ||
| Q2 25 | $5.6M | $906.0M | ||
| Q1 25 | $-18.6M | $-682.0M | ||
| Q4 24 | $-5.3M | $1.3B | ||
| Q3 24 | $-11.0M | $828.0M | ||
| Q2 24 | $-3.0M | $171.0M | ||
| Q1 24 | $1.2M | $-273.0M |
毛利率NCNOSHOP
| Q4 25 | 61.6% | 46.1% | ||
| Q3 25 | 59.2% | 48.9% | ||
| Q2 25 | 60.0% | 48.6% | ||
| Q1 25 | 59.7% | 49.5% | ||
| Q4 24 | 61.3% | 48.1% | ||
| Q3 24 | 59.3% | 51.7% | ||
| Q2 24 | 60.0% | 51.1% | ||
| Q1 24 | 60.2% | 51.4% |
营业利润率NCNOSHOP
| Q4 25 | 7.7% | 17.2% | ||
| Q3 25 | -6.2% | 12.1% | ||
| Q2 25 | -1.0% | 10.9% | ||
| Q1 25 | -4.1% | 8.6% | ||
| Q4 24 | -0.6% | 16.5% | ||
| Q3 24 | -6.0% | 13.1% | ||
| Q2 24 | -2.9% | 11.8% | ||
| Q1 24 | -2.6% | 4.6% |
净利率NCNOSHOP
| Q4 25 | 4.3% | 20.2% | ||
| Q3 25 | -10.3% | 9.3% | ||
| Q2 25 | 3.9% | 33.8% | ||
| Q1 25 | -13.2% | -28.9% | ||
| Q4 24 | -3.8% | 46.0% | ||
| Q3 24 | -8.3% | 38.3% | ||
| Q2 24 | -2.3% | 8.4% | ||
| Q1 24 | 0.9% | -14.7% |
每股收益（稀释后）NCNOSHOP
| Q4 25 | $0.06 | $0.58 | ||
| Q3 25 | $-0.13 | $0.20 | ||
| Q2 25 | $0.05 | $0.69 | ||
| Q1 25 | $-0.15 | $-0.53 | ||
| Q4 24 | $-0.05 | $0.99 | ||
| Q3 24 | $-0.10 | $0.64 | ||
| Q2 24 | $-0.03 | $0.13 | ||
| Q1 24 | $0.01 | $-0.21 |
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 | $87.6M | $5.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.0B | $13.5B |
| 总资产 | $1.6B | $15.2B |
| 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NCNOSHOP
| Q4 25 | $87.6M | $5.8B | ||
| Q3 25 | $122.9M | $6.3B | ||
| Q2 25 | $133.2M | $5.8B | ||
| Q1 25 | $120.9M | $5.5B | ||
| Q4 24 | $257.9M | $5.5B | ||
| Q3 24 | $121.4M | — | ||
| Q2 24 | $129.5M | — | ||
| Q1 24 | $112.1M | — |
股东权益NCNOSHOP
| Q4 25 | $1.0B | $13.5B | ||
| Q3 25 | $1.1B | $12.5B | ||
| Q2 25 | $1.1B | $12.1B | ||
| Q1 25 | $1.1B | $11.1B | ||
| Q4 24 | $1.1B | $11.6B | ||
| Q3 24 | $1.1B | $10.1B | ||
| Q2 24 | $1.1B | $9.2B | ||
| Q1 24 | $1.0B | $8.9B |
总资产NCNOSHOP
| Q4 25 | $1.6B | $15.2B | ||
| Q3 25 | $1.6B | $15.0B | ||
| Q2 25 | $1.7B | $14.6B | ||
| Q1 25 | $1.6B | $13.4B | ||
| Q4 24 | $1.5B | $13.9B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.3B | — |
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 | $5.1M | $725.0M |
| 自由现金流经营现金流 - 资本支出 | $4.9M | $715.0M |
| 自由现金流率自由现金流/营收 | 3.2% | 19.5% |
| 资本支出强度资本支出/营收 | 0.1% | 0.3% |
| 现金转化率经营现金流/净利润 | 0.78× | 0.98× |
| 过去12个月自由现金流最近4个季度 | $59.7M | $2.0B |
8季度趋势，按日历期对齐
经营现金流NCNOSHOP
| Q4 25 | $5.1M | $725.0M | ||
| Q3 25 | $17.7M | $513.0M | ||
| Q2 25 | $54.3M | $428.0M | ||
| Q1 25 | $-10.0M | $367.0M | ||
| Q4 24 | $5.8M | $615.0M | ||
| Q3 24 | $5.0M | $423.0M | ||
| Q2 24 | $54.4M | $340.0M | ||
| Q1 24 | $8.1M | $238.0M |
自由现金流NCNOSHOP
| Q4 25 | $4.9M | $715.0M | ||
| Q3 25 | $12.6M | $507.0M | ||
| Q2 25 | $52.6M | $422.0M | ||
| Q1 25 | $-10.4M | $363.0M | ||
| Q4 24 | $5.1M | $611.0M | ||
| Q3 24 | $4.6M | $421.0M | ||
| Q2 24 | $54.1M | $333.0M | ||
| Q1 24 | $7.7M | $232.0M |
自由现金流率NCNOSHOP
| Q4 25 | 3.2% | 19.5% | ||
| Q3 25 | 8.5% | 17.8% | ||
| Q2 25 | 36.5% | 15.7% | ||
| Q1 25 | -7.3% | 15.4% | ||
| Q4 24 | 3.7% | 21.7% | ||
| Q3 24 | 3.4% | 19.5% | ||
| Q2 24 | 42.2% | 16.3% | ||
| Q1 24 | 6.2% | 12.5% |
资本支出强度NCNOSHOP
| Q4 25 | 0.1% | 0.3% | ||
| Q3 25 | 3.5% | 0.2% | ||
| Q2 25 | 1.2% | 0.2% | ||
| Q1 25 | 0.2% | 0.2% | ||
| Q4 24 | 0.5% | 0.1% | ||
| Q3 24 | 0.3% | 0.1% | ||
| Q2 24 | 0.3% | 0.3% | ||
| Q1 24 | 0.3% | 0.3% |
现金转化率NCNOSHOP
| Q4 25 | 0.78× | 0.98× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | 9.77× | 0.47× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 1.99× | ||
| Q1 24 | 7.02× | — |
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
NCNO
| License And Service | $133.4M | 88% |
| Professional Services | $18.8M | 12% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
