vs
埃克西尔能源（NINE）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
埃克西尔能源的季度营收约是Repay Holdings Corp的1.7倍（$132.2M vs $78.6M），埃克西尔能源净利率更高（-14.5% vs -178.3%，领先163.7%），Repay Holdings Corp同比增速更快（0.4% vs -6.5%），Repay Holdings Corp自由现金流更多（$23.2M vs $-4.8M），过去两年Repay Holdings Corp的营收复合增速更高（-1.3% vs -3.6%）
埃克西尔能源是一家受美国监管的电力与天然气配送企业，总部位于明尼苏达州明尼阿波利斯。截至2025年年中，公司业务覆盖八个州的部分区域，服务约390万电力客户与220万天然气客户，下设四家运营子公司，分别为明尼苏达北州电力、威斯康星北州电力、科罗拉多公共服务公司以及西南公共服务公司。
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。
NINE vs RPAY — 直观对比
营收规模更大
NINE
是对方的1.7倍
$78.6M
营收增速更快
RPAY
高出6.9%
-6.5%
净利率更高
NINE
高出163.7%
-178.3%
自由现金流更多
RPAY
多$28.0M
$-4.8M
两年增速更快
RPAY
近两年复合增速
-3.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $132.2M | $78.6M |
| 净利润 | $-19.2M | $-140.1M |
| 毛利率 | — | 74.2% |
| 营业利润率 | -4.2% | -182.2% |
| 净利率 | -14.5% | -178.3% |
| 营收同比 | -6.5% | 0.4% |
| 净利润同比 | -117.4% | -3304.1% |
| 每股收益（稀释后） | $-0.47 | $-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NINERPAY
| Q4 25 | $132.2M | $78.6M | ||
| Q3 25 | $132.0M | $77.7M | ||
| Q2 25 | $147.3M | $75.6M | ||
| Q1 25 | $150.5M | $77.3M | ||
| Q4 24 | $141.4M | $78.3M | ||
| Q3 24 | $138.2M | $79.1M | ||
| Q2 24 | $132.4M | $74.9M | ||
| Q1 24 | $142.1M | $80.7M |
净利润NINERPAY
| Q4 25 | $-19.2M | $-140.1M | ||
| Q3 25 | $-14.6M | $-6.4M | ||
| Q2 25 | $-10.4M | $-102.3M | ||
| Q1 25 | $-7.1M | $-7.9M | ||
| Q4 24 | $-8.8M | $-4.1M | ||
| Q3 24 | $-10.1M | $3.2M | ||
| Q2 24 | $-14.0M | $-4.1M | ||
| Q1 24 | $-8.1M | $-5.2M |
毛利率NINERPAY
| 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NINERPAY
| Q4 25 | -4.2% | -182.2% | ||
| Q3 25 | -0.9% | -3.9% | ||
| Q2 25 | 2.3% | -138.7% | ||
| Q1 25 | 3.7% | -4.7% | ||
| Q4 24 | 2.5% | -1.5% | ||
| Q3 24 | 1.8% | -0.9% | ||
| Q2 24 | -1.1% | -4.6% | ||
| Q1 24 | 3.1% | -3.1% |
净利率NINERPAY
| Q4 25 | -14.5% | -178.3% | ||
| Q3 25 | -11.1% | -8.3% | ||
| Q2 25 | -7.1% | -135.2% | ||
| Q1 25 | -4.7% | -10.3% | ||
| Q4 24 | -6.3% | -5.3% | ||
| Q3 24 | -7.3% | 4.1% | ||
| Q2 24 | -10.6% | -5.4% | ||
| Q1 24 | -5.7% | -6.5% |
每股收益（稀释后）NINERPAY
| Q4 25 | $-0.47 | $-1.68 | ||
| Q3 25 | $-0.35 | $-0.08 | ||
| Q2 25 | $-0.25 | $-1.15 | ||
| Q1 25 | $-0.18 | $-0.09 | ||
| Q4 24 | $-0.21 | $-0.04 | ||
| Q3 24 | $-0.26 | $0.03 | ||
| Q2 24 | $-0.40 | $-0.04 | ||
| Q1 24 | $-0.24 | $-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 | $18.4M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $-115.0M | $484.4M |
| 总资产 | $339.5M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资NINERPAY
| Q4 25 | $18.4M | $115.7M | ||
| Q3 25 | $14.4M | $95.7M | ||
| Q2 25 | $14.2M | $162.6M | ||
| Q1 25 | $17.3M | $165.5M | ||
| Q4 24 | $27.9M | $189.5M | ||
| Q3 24 | $15.7M | $168.7M | ||
| Q2 24 | $26.0M | $147.1M | ||
| Q1 24 | $10.2M | $128.3M |
总债务NINERPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益NINERPAY
| Q4 25 | $-115.0M | $484.4M | ||
| Q3 25 | $-95.9M | $616.9M | ||
| Q2 25 | $-81.7M | $633.7M | ||
| Q1 25 | $-72.1M | $755.7M | ||
| Q4 24 | $-66.1M | $761.3M | ||
| Q3 24 | $-57.6M | $754.7M | ||
| Q2 24 | $-49.7M | $815.4M | ||
| Q1 24 | $-43.3M | $813.8M |
总资产NINERPAY
| Q4 25 | $339.5M | $1.2B | ||
| Q3 25 | $340.7M | $1.3B | ||
| Q2 25 | $361.2M | $1.4B | ||
| Q1 25 | $359.2M | $1.5B | ||
| Q4 24 | $360.1M | $1.6B | ||
| Q3 24 | $353.2M | $1.6B | ||
| Q2 24 | $381.7M | $1.5B | ||
| Q1 24 | $380.4M | $1.5B |
负债/权益比NINERPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 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 | $-2.2M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $23.2M |
| 自由现金流率自由现金流/营收 | -3.6% | 29.6% |
| 资本支出强度资本支出/营收 | 2.0% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-23.3M | $90.7M |
8季度趋势，按日历期对齐
经营现金流NINERPAY
| Q4 25 | $-2.2M | $23.3M | ||
| Q3 25 | $-9.9M | $32.2M | ||
| Q2 25 | $10.1M | $33.1M | ||
| Q1 25 | $-5.3M | $2.5M | ||
| Q4 24 | $15.0M | $34.3M | ||
| Q3 24 | $-5.8M | $60.1M | ||
| Q2 24 | $12.9M | $31.0M | ||
| Q1 24 | $-8.8M | $24.8M |
自由现金流NINERPAY
| Q4 25 | $-4.8M | $23.2M | ||
| Q3 25 | $-13.4M | $32.1M | ||
| Q2 25 | $4.2M | $33.0M | ||
| Q1 25 | $-9.3M | $2.4M | ||
| Q4 24 | $11.8M | $34.0M | ||
| Q3 24 | $-9.3M | $59.8M | ||
| Q2 24 | $10.3M | $30.5M | ||
| Q1 24 | $-14.3M | $24.7M |
自由现金流率NINERPAY
| Q4 25 | -3.6% | 29.6% | ||
| Q3 25 | -10.2% | 41.3% | ||
| Q2 25 | 2.9% | 43.6% | ||
| Q1 25 | -6.2% | 3.0% | ||
| Q4 24 | 8.3% | 43.5% | ||
| Q3 24 | -6.7% | 75.6% | ||
| Q2 24 | 7.7% | 40.7% | ||
| Q1 24 | -10.1% | 30.6% |
资本支出强度NINERPAY
| Q4 25 | 2.0% | 0.1% | ||
| Q3 25 | 2.6% | 0.2% | ||
| Q2 25 | 4.0% | 0.1% | ||
| Q1 25 | 2.6% | 0.2% | ||
| Q4 24 | 2.3% | 0.3% | ||
| Q3 24 | 2.5% | 0.3% | ||
| Q2 24 | 2.0% | 0.6% | ||
| Q1 24 | 3.9% | 0.1% |
现金转化率NINERPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | — | — | ||
| 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
NINE
| Cement | $52.6M | 40% |
| Tool Revenue | $28.6M | 22% |
| Coiled Tubing | $25.8M | 20% |
| Wireline | $25.1M | 19% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
