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巴诺书店（NE）与UiPath, Inc.（PATH）财务数据对比。点击上方公司名可切换其他公司
巴诺书店的季度营收约是UiPath, Inc.的1.9倍（$764.4M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 11.3%，领先37.0%），UiPath, Inc.同比增速更快（15.9% vs -17.6%），巴诺书店自由现金流更多（$35.4M vs $25.1M），过去两年巴诺书店的营收复合增速更高（9.5% vs 0.7%）
巴诺书店是美国知名连锁图书零售企业，拥有全美数量最多的实体零售网点，目前在美国境内共运营超过700家线下门店，为消费者提供各类书籍、文创产品及相关文化消费服务。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
NE vs PATH — 直观对比
营收规模更大
NE
是对方的1.9倍
$411.1M
营收增速更快
PATH
高出33.5%
-17.6%
净利率更高
PATH
高出37.0%
11.3%
自由现金流更多
NE
多$10.3M
$25.1M
两年增速更快
NE
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $764.4M | $411.1M |
| 净利润 | $86.6M | $198.8M |
| 毛利率 | — | 83.3% |
| 营业利润率 | 5.6% | 3.2% |
| 净利率 | 11.3% | 48.4% |
| 营收同比 | -17.6% | 15.9% |
| 净利润同比 | -10.4% | 1966.2% |
| 每股收益（稀释后） | $0.54 | $0.37 |
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NEPATH
| Q4 25 | $764.4M | $411.1M | ||
| Q3 25 | $798.0M | $361.7M | ||
| Q2 25 | $848.7M | $356.6M | ||
| Q1 25 | $874.5M | $423.6M | ||
| Q4 24 | $927.3M | $354.7M | ||
| Q3 24 | $800.5M | $316.3M | ||
| Q2 24 | $692.8M | $335.1M | ||
| Q1 24 | $637.1M | $405.3M |
净利润NEPATH
| Q4 25 | $86.6M | $198.8M | ||
| Q3 25 | $-21.1M | $1.6M | ||
| Q2 25 | $42.9M | $-22.6M | ||
| Q1 25 | $108.3M | $51.8M | ||
| Q4 24 | $96.6M | $-10.7M | ||
| Q3 24 | $61.2M | $-86.1M | ||
| Q2 24 | $195.0M | $-28.7M | ||
| Q1 24 | $95.5M | $33.9M |
毛利率NEPATH
| Q4 25 | — | 83.3% | ||
| Q3 25 | — | 82.2% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 84.8% | ||
| Q4 24 | — | 82.0% | ||
| Q3 24 | — | 80.0% | ||
| Q2 24 | — | 83.5% | ||
| Q1 24 | — | 86.8% |
营业利润率NEPATH
| Q4 25 | 5.6% | 3.2% | ||
| Q3 25 | 6.3% | -5.6% | ||
| Q2 25 | 15.9% | -4.6% | ||
| Q1 25 | 21.4% | 7.9% | ||
| Q4 24 | 18.4% | -12.2% | ||
| Q3 24 | 14.4% | -32.7% | ||
| Q2 24 | 30.3% | -14.8% | ||
| Q1 24 | 16.9% | 3.7% |
净利率NEPATH
| Q4 25 | 11.3% | 48.4% | ||
| Q3 25 | -2.6% | 0.4% | ||
| Q2 25 | 5.1% | -6.3% | ||
| Q1 25 | 12.4% | 12.2% | ||
| Q4 24 | 10.4% | -3.0% | ||
| Q3 24 | 7.6% | -27.2% | ||
| Q2 24 | 28.1% | -8.6% | ||
| Q1 24 | 15.0% | 8.4% |
每股收益（稀释后）NEPATH
| Q4 25 | $0.54 | $0.37 | ||
| Q3 25 | $-0.13 | $0.00 | ||
| Q2 25 | $0.27 | $-0.04 | ||
| Q1 25 | $0.67 | $0.09 | ||
| Q4 24 | $0.56 | $-0.02 | ||
| Q3 24 | $0.40 | $-0.15 | ||
| Q2 24 | $1.34 | $-0.05 | ||
| Q1 24 | $0.66 | $0.07 |
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 | $471.4M | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.5B | $1.9B |
| 总资产 | $7.5B | $2.9B |
| 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NEPATH
| Q4 25 | $471.4M | $1.4B | ||
| Q3 25 | $477.9M | $1.4B | ||
| Q2 25 | $338.2M | $1.6B | ||
| Q1 25 | $303.8M | $1.6B | ||
| Q4 24 | $247.3M | $1.6B | ||
| Q3 24 | $391.9M | $1.7B | ||
| Q2 24 | $162.9M | $1.9B | ||
| Q1 24 | $212.5M | $1.9B |
股东权益NEPATH
| Q4 25 | $4.5B | $1.9B | ||
| Q3 25 | $4.5B | $1.7B | ||
| Q2 25 | $4.6B | $1.7B | ||
| Q1 25 | $4.7B | $1.8B | ||
| Q4 24 | $4.7B | $1.7B | ||
| Q3 24 | $4.7B | $1.8B | ||
| Q2 24 | $4.0B | $2.0B | ||
| Q1 24 | $3.9B | $2.0B |
总资产NEPATH
| Q4 25 | $7.5B | $2.9B | ||
| Q3 25 | $7.6B | $2.6B | ||
| Q2 25 | $7.7B | $2.6B | ||
| Q1 25 | $7.9B | $2.9B | ||
| Q4 24 | $8.0B | $2.7B | ||
| Q3 24 | $8.0B | $2.7B | ||
| Q2 24 | $5.6B | $2.8B | ||
| Q1 24 | $5.4B | $3.0B |
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 | $187.1M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $35.4M | $25.1M |
| 自由现金流率自由现金流/营收 | 4.6% | 6.1% |
| 资本支出强度资本支出/营收 | 19.9% | 0.8% |
| 现金转化率经营现金流/净利润 | 2.16× | 0.14× |
| 过去12个月自由现金流最近4个季度 | $432.2M | — |
8季度趋势，按日历期对齐
经营现金流NEPATH
| Q4 25 | $187.1M | $28.3M | ||
| Q3 25 | $277.1M | $41.6M | ||
| Q2 25 | $216.4M | $119.0M | ||
| Q1 25 | $271.1M | $146.1M | ||
| Q4 24 | $136.2M | $28.1M | ||
| Q3 24 | $283.8M | $46.4M | ||
| Q2 24 | $106.8M | $100.0M | ||
| Q1 24 | $128.7M | $145.6M |
自由现金流NEPATH
| Q4 25 | $35.4M | $25.1M | ||
| Q3 25 | $139.5M | — | ||
| Q2 25 | $99.8M | $106.2M | ||
| Q1 25 | $157.5M | $138.7M | ||
| Q4 24 | $-4.4M | $23.2M | ||
| Q3 24 | $156.8M | $45.0M | ||
| Q2 24 | $-34.3M | $98.8M | ||
| Q1 24 | $-37.9M | $141.8M |
自由现金流率NEPATH
| Q4 25 | 4.6% | 6.1% | ||
| Q3 25 | 17.5% | — | ||
| Q2 25 | 11.8% | 29.8% | ||
| Q1 25 | 18.0% | 32.7% | ||
| Q4 24 | -0.5% | 6.5% | ||
| Q3 24 | 19.6% | 14.2% | ||
| Q2 24 | -4.9% | 29.5% | ||
| Q1 24 | -6.0% | 35.0% |
资本支出强度NEPATH
| Q4 25 | 19.9% | 0.8% | ||
| Q3 25 | 17.3% | 0.0% | ||
| Q2 25 | 13.7% | 3.6% | ||
| Q1 25 | 13.0% | 1.7% | ||
| Q4 24 | 15.2% | 1.4% | ||
| Q3 24 | 15.9% | 0.4% | ||
| Q2 24 | 20.4% | 0.4% | ||
| Q1 24 | 26.2% | 0.9% |
现金转化率NEPATH
| Q4 25 | 2.16× | 0.14× | ||
| Q3 25 | — | 26.25× | ||
| Q2 25 | 5.05× | — | ||
| Q1 25 | 2.50× | 2.82× | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 4.64× | — | ||
| Q2 24 | 0.55× | — | ||
| Q1 24 | 1.35× | 4.29× |
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
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
