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Newsmax Inc.（NMAX）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Newsmax Inc.的1.5倍（$78.6M vs $52.2M），Newsmax Inc.净利率更高（-5.7% vs -178.3%，领先172.6%），Repay Holdings Corp自由现金流更多（$23.2M vs $1.8M）
纽斯马克斯公司是一家总部位于美国的媒体广播企业，提供新闻报道、政治评论、观点内容及生活类节目，通过有线电视、官网、移动应用和流媒体平台分发内容，主要面向美国本土受众，核心内容板块侧重保守立场的时事资讯。
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。
NMAX vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.5倍
$52.2M
净利率更高
NMAX
高出172.6%
-178.3%
自由现金流更多
RPAY
多$21.5M
$1.8M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $52.2M | $78.6M |
| 净利润 | $-3.0M | $-140.1M |
| 毛利率 | 36.7% | 74.2% |
| 营业利润率 | -9.0% | -182.2% |
| 净利率 | -5.7% | -178.3% |
| 营收同比 | — | 0.4% |
| 净利润同比 | — | -3304.1% |
| 每股收益（稀释后） | $0.15 | $-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NMAXRPAY
| Q4 25 | $52.2M | $78.6M | ||
| Q3 25 | $45.3M | $77.7M | ||
| Q2 25 | $46.4M | $75.6M | ||
| Q1 25 | $45.3M | $77.3M | ||
| Q4 24 | — | $78.3M | ||
| Q3 24 | — | $79.1M | ||
| Q2 24 | — | $74.9M | ||
| Q1 24 | — | $80.7M |
净利润NMAXRPAY
| Q4 25 | $-3.0M | $-140.1M | ||
| Q3 25 | $-4.1M | $-6.4M | ||
| Q2 25 | $-75.2M | $-102.3M | ||
| Q1 25 | $-17.2M | $-7.9M | ||
| Q4 24 | — | $-4.1M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $-4.1M | ||
| Q1 24 | — | $-5.2M |
毛利率NMAXRPAY
| Q4 25 | 36.7% | 74.2% | ||
| Q3 25 | 35.3% | 74.4% | ||
| Q2 25 | 38.0% | 75.7% | ||
| Q1 25 | 47.8% | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
营业利润率NMAXRPAY
| Q4 25 | -9.0% | -182.2% | ||
| Q3 25 | -15.9% | -3.9% | ||
| Q2 25 | -164.5% | -138.7% | ||
| Q1 25 | -25.5% | -4.7% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | — | -0.9% | ||
| Q2 24 | — | -4.6% | ||
| Q1 24 | — | -3.1% |
净利率NMAXRPAY
| Q4 25 | -5.7% | -178.3% | ||
| Q3 25 | -9.1% | -8.3% | ||
| Q2 25 | -161.9% | -135.2% | ||
| Q1 25 | -38.0% | -10.3% | ||
| Q4 24 | — | -5.3% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | -5.4% | ||
| Q1 24 | — | -6.5% |
每股收益（稀释后）NMAXRPAY
| Q4 25 | $0.15 | $-1.68 | ||
| Q3 25 | $-0.03 | $-0.08 | ||
| Q2 25 | $-0.59 | $-1.15 | ||
| Q1 25 | $-0.49 | $-0.09 | ||
| Q4 24 | — | $-0.04 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 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 | $20.4M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $106.0M | $484.4M |
| 总资产 | $239.8M | $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NMAXRPAY
| Q4 25 | $20.4M | $115.7M | ||
| Q3 25 | $14.2M | $95.7M | ||
| Q2 25 | $33.8M | $162.6M | ||
| Q1 25 | $126.7M | $165.5M | ||
| Q4 24 | — | $189.5M | ||
| Q3 24 | — | $168.7M | ||
| Q2 24 | — | $147.1M | ||
| Q1 24 | — | $128.3M |
总债务NMAXRPAY
| 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NMAXRPAY
| Q4 25 | $106.0M | $484.4M | ||
| Q3 25 | $106.0M | $616.9M | ||
| Q2 25 | $106.9M | $633.7M | ||
| Q1 25 | $177.4M | $755.7M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $754.7M | ||
| Q2 24 | — | $815.4M | ||
| Q1 24 | — | $813.8M |
总资产NMAXRPAY
| Q4 25 | $239.8M | $1.2B | ||
| Q3 25 | $233.3M | $1.3B | ||
| Q2 25 | $259.8M | $1.4B | ||
| Q1 25 | $278.2M | $1.5B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.5B |
负债/权益比NMAXRPAY
| 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 | $2.6M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $1.8M | $23.2M |
| 自由现金流率自由现金流/营收 | 3.4% | 29.6% |
| 资本支出强度资本支出/营收 | 1.7% | 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 | $-107.1M | $90.7M |
8季度趋势，按日历期对齐
经营现金流NMAXRPAY
| Q4 25 | $2.6M | $23.3M | ||
| Q3 25 | $-68.1M | $32.2M | ||
| Q2 25 | $-23.2M | $33.1M | ||
| Q1 25 | $-15.7M | $2.5M | ||
| Q4 24 | — | $34.3M | ||
| Q3 24 | — | $60.1M | ||
| Q2 24 | — | $31.0M | ||
| Q1 24 | — | $24.8M |
自由现金流NMAXRPAY
| Q4 25 | $1.8M | $23.2M | ||
| Q3 25 | $-69.2M | $32.1M | ||
| Q2 25 | $-23.8M | $33.0M | ||
| Q1 25 | $-15.8M | $2.4M | ||
| Q4 24 | — | $34.0M | ||
| Q3 24 | — | $59.8M | ||
| Q2 24 | — | $30.5M | ||
| Q1 24 | — | $24.7M |
自由现金流率NMAXRPAY
| Q4 25 | 3.4% | 29.6% | ||
| Q3 25 | -152.9% | 41.3% | ||
| Q2 25 | -51.3% | 43.6% | ||
| Q1 25 | -34.9% | 3.0% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 75.6% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 30.6% |
资本支出强度NMAXRPAY
| Q4 25 | 1.7% | 0.1% | ||
| Q3 25 | 2.4% | 0.2% | ||
| Q2 25 | 1.3% | 0.1% | ||
| Q1 25 | 0.2% | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.1% |
现金转化率NMAXRPAY
| 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
NMAX
| Advertising | $33.9M | 65% |
| Affiliate Fee | $8.3M | 16% |
| Subscription And Circulation | $6.2M | 12% |
| Products | $2.6M | 5% |
| Supplement Sales | $1.1M | 2% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
