vs
NCS Multistage Holdings, Inc.（NCSM）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
Repay Holdings Corp的季度营收约是NCS Multistage Holdings, Inc.的1.6倍（$78.6M vs $50.6M），NCS Multistage Holdings, Inc.净利率更高（29.5% vs -178.3%，领先207.8%），NCS Multistage Holdings, Inc.同比增速更快（12.5% vs 0.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $12.9M），过去两年NCS Multistage Holdings, Inc.的营收复合增速更高（7.4% vs -1.3%）
NCS Multistage Holdings是一家全球能源技术与油田服务提供商，主营油气勘探生产用的完井系统与多级压裂工具，服务覆盖北美、拉美、中东及亚太市场，助力上游能源客户提升作业效率与资源采收率。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
NCSM vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.6倍
$50.6M
营收增速更快
NCSM
高出12.1%
0.4%
净利率更高
NCSM
高出207.8%
-178.3%
自由现金流更多
RPAY
多$10.3M
$12.9M
两年增速更快
NCSM
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.6M | $78.6M |
| 净利润 | $15.0M | $-140.1M |
| 毛利率 | — | 74.2% |
| 营业利润率 | 10.3% | -182.2% |
| 净利率 | 29.5% | -178.3% |
| 营收同比 | 12.5% | 0.4% |
| 净利润同比 | 331.0% | -3304.1% |
| 每股收益（稀释后） | $5.43 | $-1.68 |
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NCSMRPAY
| Q4 25 | $50.6M | $78.6M | ||
| Q3 25 | $46.5M | $77.7M | ||
| Q2 25 | $36.5M | $75.6M | ||
| Q1 25 | $50.0M | $77.3M | ||
| Q4 24 | $45.0M | $78.3M | ||
| Q3 24 | $44.0M | $79.1M | ||
| Q2 24 | $29.7M | $74.9M | ||
| Q1 24 | $43.9M | $80.7M |
净利润NCSMRPAY
| Q4 25 | $15.0M | $-140.1M | ||
| Q3 25 | $3.8M | $-6.4M | ||
| Q2 25 | $924.0K | $-102.3M | ||
| Q1 25 | $4.1M | $-7.9M | ||
| Q4 24 | $3.5M | $-4.1M | ||
| Q3 24 | $4.1M | $3.2M | ||
| Q2 24 | $-3.1M | $-4.1M | ||
| Q1 24 | $2.1M | $-5.2M |
毛利率NCSMRPAY
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
营业利润率NCSMRPAY
| Q4 25 | 10.3% | -182.2% | ||
| Q3 25 | 6.6% | -3.9% | ||
| Q2 25 | -5.6% | -138.7% | ||
| Q1 25 | 8.6% | -4.7% | ||
| Q4 24 | 6.5% | -1.5% | ||
| Q3 24 | 6.9% | -0.9% | ||
| Q2 24 | -14.0% | -4.6% | ||
| Q1 24 | 5.7% | -3.1% |
净利率NCSMRPAY
| Q4 25 | 29.5% | -178.3% | ||
| Q3 25 | 8.2% | -8.3% | ||
| Q2 25 | 2.5% | -135.2% | ||
| Q1 25 | 8.1% | -10.3% | ||
| Q4 24 | 7.7% | -5.3% | ||
| Q3 24 | 9.4% | 4.1% | ||
| Q2 24 | -10.4% | -5.4% | ||
| Q1 24 | 4.7% | -6.5% |
每股收益（稀释后）NCSMRPAY
| Q4 25 | $5.43 | $-1.68 | ||
| Q3 25 | $1.37 | $-0.08 | ||
| Q2 25 | $0.34 | $-1.15 | ||
| Q1 25 | $1.51 | $-0.09 | ||
| Q4 24 | $1.34 | $-0.04 | ||
| Q3 24 | $1.60 | $0.03 | ||
| Q2 24 | $-1.21 | $-0.04 | ||
| Q1 24 | $0.82 | $-0.06 |
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 | $36.7M | $115.7M |
| 总债务越低越好 | $5.3M | $280.1M |
| 股东权益账面价值 | $126.2M | $484.4M |
| 总资产 | $181.2M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.04× | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资NCSMRPAY
| Q4 25 | $36.7M | $115.7M | ||
| Q3 25 | $25.3M | $95.7M | ||
| Q2 25 | $25.4M | $162.6M | ||
| Q1 25 | $23.0M | $165.5M | ||
| Q4 24 | $25.9M | $189.5M | ||
| Q3 24 | $15.3M | $168.7M | ||
| Q2 24 | $18.6M | $147.1M | ||
| Q1 24 | $14.0M | $128.3M |
总债务NCSMRPAY
| Q4 25 | $5.3M | $280.1M | ||
| Q3 25 | $5.1M | $279.5M | ||
| Q2 25 | $5.5M | $279.0M | ||
| Q1 25 | $5.4M | $497.6M | ||
| Q4 24 | $6.0M | $496.8M | ||
| Q3 24 | $6.5M | $496.2M | ||
| Q2 24 | $6.8M | $435.6M | ||
| Q1 24 | $6.4M | $434.9M |
股东权益NCSMRPAY
| Q4 25 | $126.2M | $484.4M | ||
| Q3 25 | $110.1M | $616.9M | ||
| Q2 25 | $106.4M | $633.7M | ||
| Q1 25 | $103.2M | $755.7M | ||
| Q4 24 | $98.8M | $761.3M | ||
| Q3 24 | $96.0M | $754.7M | ||
| Q2 24 | $91.0M | $815.4M | ||
| Q1 24 | $93.7M | $813.8M |
总资产NCSMRPAY
| Q4 25 | $181.2M | $1.2B | ||
| Q3 25 | $162.0M | $1.3B | ||
| Q2 25 | $158.0M | $1.4B | ||
| Q1 25 | $155.1M | $1.5B | ||
| Q4 24 | $152.8M | $1.6B | ||
| Q3 24 | $145.8M | $1.6B | ||
| Q2 24 | $139.4M | $1.5B | ||
| Q1 24 | $140.9M | $1.5B |
负债/权益比NCSMRPAY
| Q4 25 | 0.04× | 0.58× | ||
| Q3 25 | 0.05× | 0.45× | ||
| Q2 25 | 0.05× | 0.44× | ||
| Q1 25 | 0.05× | 0.66× | ||
| Q4 24 | 0.06× | 0.65× | ||
| Q3 24 | 0.07× | 0.66× | ||
| Q2 24 | 0.08× | 0.53× | ||
| Q1 24 | 0.07× | 0.53× |
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 | $13.1M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $12.9M | $23.2M |
| 自由现金流率自由现金流/营收 | 25.5% | 29.6% |
| 资本支出强度资本支出/营收 | 0.4% | 0.1% |
| 现金转化率经营现金流/净利润 | 0.88× | — |
| 过去12个月自由现金流最近4个季度 | $21.0M | $90.7M |
8季度趋势，按日历期对齐
经营现金流NCSMRPAY
| Q4 25 | $13.1M | $23.3M | ||
| Q3 25 | $7.2M | $32.2M | ||
| Q2 25 | $3.5M | $33.1M | ||
| Q1 25 | $-1.6M | $2.5M | ||
| Q4 24 | $10.6M | $34.3M | ||
| Q3 24 | $-2.0M | $60.1M | ||
| Q2 24 | $6.0M | $31.0M | ||
| Q1 24 | $-1.9M | $24.8M |
自由现金流NCSMRPAY
| Q4 25 | $12.9M | $23.2M | ||
| Q3 25 | $6.9M | $32.1M | ||
| Q2 25 | $3.2M | $33.0M | ||
| Q1 25 | $-2.1M | $2.4M | ||
| Q4 24 | $10.4M | $34.0M | ||
| Q3 24 | $-2.5M | $59.8M | ||
| Q2 24 | $5.6M | $30.5M | ||
| Q1 24 | $-2.2M | $24.7M |
自由现金流率NCSMRPAY
| Q4 25 | 25.5% | 29.6% | ||
| Q3 25 | 14.9% | 41.3% | ||
| Q2 25 | 8.9% | 43.6% | ||
| Q1 25 | -4.2% | 3.0% | ||
| Q4 24 | 23.1% | 43.5% | ||
| Q3 24 | -5.6% | 75.6% | ||
| Q2 24 | 19.0% | 40.7% | ||
| Q1 24 | -5.0% | 30.6% |
资本支出强度NCSMRPAY
| Q4 25 | 0.4% | 0.1% | ||
| Q3 25 | 0.5% | 0.2% | ||
| Q2 25 | 0.8% | 0.1% | ||
| Q1 25 | 0.9% | 0.2% | ||
| Q4 24 | 0.5% | 0.3% | ||
| Q3 24 | 1.0% | 0.3% | ||
| Q2 24 | 1.1% | 0.6% | ||
| Q1 24 | 0.7% | 0.1% |
现金转化率NCSMRPAY
| Q4 25 | 0.88× | — | ||
| Q3 25 | 1.88× | — | ||
| Q2 25 | 3.81× | — | ||
| Q1 25 | -0.41× | — | ||
| Q4 24 | 3.07× | — | ||
| Q3 24 | -0.49× | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.91× | — |
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
NCSM
| Products | $33.8M | 67% |
| Services | $16.8M | 33% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
