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NI Holdings, Inc.（NODK）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NI Holdings, Inc.的1.3倍（$78.6M vs $61.0M），NI Holdings, Inc.净利率更高（-5.2% vs -178.3%，领先173.1%），Repay Holdings Corp同比增速更快（0.4% vs -17.5%），过去两年Repay Holdings Corp的营收复合增速更高（-1.3% vs -9.5%）
NI Holdings, Inc.是一家总部位于美国的保险控股企业，核心业务为提供财产及意外伤害保险产品，覆盖个人车险、家庭财产险、小型商业保险等品类，服务美国多州的个人消费者及小微企业客户。
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。
NODK vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.3倍
$61.0M
营收增速更快
RPAY
高出17.9%
-17.5%
净利率更高
NODK
高出173.1%
-178.3%
两年增速更快
RPAY
近两年复合增速
-9.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $61.0M | $78.6M |
| 净利润 | $-3.2M | $-140.1M |
| 毛利率 | 30.8% | 74.2% |
| 营业利润率 | -4.7% | -182.2% |
| 净利率 | -5.2% | -178.3% |
| 营收同比 | -17.5% | 0.4% |
| 净利润同比 | -132.0% | -3304.1% |
| 每股收益（稀释后） | $-0.16 | $-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NODKRPAY
| Q4 25 | $61.0M | $78.6M | ||
| Q3 25 | $76.6M | $77.7M | ||
| Q2 25 | $76.1M | $75.6M | ||
| Q1 25 | $71.4M | $77.3M | ||
| Q4 24 | $73.9M | $78.3M | ||
| Q3 24 | $89.0M | $79.1M | ||
| Q2 24 | $87.8M | $74.9M | ||
| Q1 24 | $74.5M | $80.7M |
净利润NODKRPAY
| Q4 25 | $-3.2M | $-140.1M | ||
| Q3 25 | $-1.7M | $-6.4M | ||
| Q2 25 | $-12.1M | $-102.3M | ||
| Q1 25 | $6.5M | $-7.9M | ||
| Q4 24 | $9.8M | $-4.1M | ||
| Q3 24 | $-2.7M | $3.2M | ||
| Q2 24 | $-19.6M | $-4.1M | ||
| Q1 24 | $6.4M | $-5.2M |
毛利率NODKRPAY
| Q4 25 | 30.8% | 74.2% | ||
| Q3 25 | 20.5% | 74.4% | ||
| Q2 25 | 8.4% | 75.7% | ||
| Q1 25 | 40.6% | 75.9% | ||
| Q4 24 | 52.7% | 76.3% | ||
| Q3 24 | 20.4% | 77.8% | ||
| Q2 24 | 18.0% | 78.2% | ||
| Q1 24 | 39.9% | 76.2% |
营业利润率NODKRPAY
| Q4 25 | -4.7% | -182.2% | ||
| Q3 25 | -2.4% | -3.9% | ||
| Q2 25 | -20.1% | -138.7% | ||
| Q1 25 | 10.8% | -4.7% | ||
| Q4 24 | 18.7% | -1.5% | ||
| Q3 24 | -3.9% | -0.9% | ||
| Q2 24 | -10.3% | -4.6% | ||
| Q1 24 | 11.9% | -3.1% |
净利率NODKRPAY
| Q4 25 | -5.2% | -178.3% | ||
| Q3 25 | -2.2% | -8.3% | ||
| Q2 25 | -15.8% | -135.2% | ||
| Q1 25 | 9.0% | -10.3% | ||
| Q4 24 | 13.3% | -5.3% | ||
| Q3 24 | -3.0% | 4.1% | ||
| Q2 24 | -22.3% | -5.4% | ||
| Q1 24 | 8.6% | -6.5% |
每股收益（稀释后）NODKRPAY
| Q4 25 | $-0.16 | $-1.68 | ||
| Q3 25 | $-0.08 | $-0.08 | ||
| Q2 25 | $-0.57 | $-1.15 | ||
| Q1 25 | $0.31 | $-0.09 | ||
| Q4 24 | $0.48 | $-0.04 | ||
| Q3 24 | $-0.13 | $0.03 | ||
| Q2 24 | $-0.94 | $-0.04 | ||
| Q1 24 | $0.30 | $-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 | $52.2M | $115.7M |
| 总债务越低越好 | $2.4M | $280.1M |
| 股东权益账面价值 | $240.3M | $484.4M |
| 总资产 | $506.0M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.01× | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资NODKRPAY
| Q4 25 | $52.2M | $115.7M | ||
| Q3 25 | $24.7M | $95.7M | ||
| Q2 25 | $56.8M | $162.6M | ||
| Q1 25 | $57.2M | $165.5M | ||
| Q4 24 | $51.4M | $189.5M | ||
| Q3 24 | $39.1M | $168.7M | ||
| Q2 24 | $51.4M | $147.1M | ||
| Q1 24 | $68.5M | $128.3M |
总债务NODKRPAY
| Q4 25 | $2.4M | $280.1M | ||
| Q3 25 | $2.4M | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | $2.4M | $496.8M | ||
| Q3 24 | $2.4M | $496.2M | ||
| Q2 24 | $2.4M | $435.6M | ||
| Q1 24 | $2.4M | $434.9M |
股东权益NODKRPAY
| Q4 25 | $240.3M | $484.4M | ||
| Q3 25 | $243.8M | $616.9M | ||
| Q2 25 | $243.3M | $633.7M | ||
| Q1 25 | $254.0M | $755.7M | ||
| Q4 24 | $244.6M | $761.3M | ||
| Q3 24 | $241.4M | $754.7M | ||
| Q2 24 | $236.1M | $815.4M | ||
| Q1 24 | $255.8M | $813.8M |
总资产NODKRPAY
| Q4 25 | $506.0M | $1.2B | ||
| Q3 25 | $543.8M | $1.3B | ||
| Q2 25 | $620.1M | $1.4B | ||
| Q1 25 | $525.4M | $1.5B | ||
| Q4 24 | $526.5M | $1.6B | ||
| Q3 24 | $559.9M | $1.6B | ||
| Q2 24 | $571.0M | $1.5B | ||
| Q1 24 | $674.5M | $1.5B |
负债/权益比NODKRPAY
| Q4 25 | 0.01× | 0.58× | ||
| Q3 25 | 0.01× | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | 0.01× | 0.65× | ||
| Q3 24 | 0.01× | 0.66× | ||
| Q2 24 | 0.01× | 0.53× | ||
| Q1 24 | 0.01× | 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 | $13.2M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $23.2M |
| 自由现金流率自由现金流/营收 | — | 29.6% |
| 资本支出强度资本支出/营收 | 0.0% | 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 | — | $90.7M |
8季度趋势，按日历期对齐
经营现金流NODKRPAY
| Q4 25 | $13.2M | $23.3M | ||
| Q3 25 | $-44.8M | $32.2M | ||
| Q2 25 | $6.4M | $33.1M | ||
| Q1 25 | $9.9M | $2.5M | ||
| Q4 24 | $21.7M | $34.3M | ||
| Q3 24 | $-18.0M | $60.1M | ||
| Q2 24 | $18.1M | $31.0M | ||
| Q1 24 | $16.7M | $24.8M |
自由现金流NODKRPAY
| Q4 25 | — | $23.2M | ||
| Q3 25 | $-44.8M | $32.1M | ||
| Q2 25 | $6.2M | $33.0M | ||
| Q1 25 | $9.9M | $2.4M | ||
| Q4 24 | $21.5M | $34.0M | ||
| Q3 24 | $-18.1M | $59.8M | ||
| Q2 24 | $17.5M | $30.5M | ||
| Q1 24 | $16.6M | $24.7M |
自由现金流率NODKRPAY
| Q4 25 | — | 29.6% | ||
| Q3 25 | -58.6% | 41.3% | ||
| Q2 25 | 8.2% | 43.6% | ||
| Q1 25 | 13.8% | 3.0% | ||
| Q4 24 | 29.1% | 43.5% | ||
| Q3 24 | -20.4% | 75.6% | ||
| Q2 24 | 20.0% | 40.7% | ||
| Q1 24 | 22.3% | 30.6% |
资本支出强度NODKRPAY
| Q4 25 | 0.0% | 0.1% | ||
| Q3 25 | 0.0% | 0.2% | ||
| Q2 25 | 0.2% | 0.1% | ||
| Q1 25 | 0.0% | 0.2% | ||
| Q4 24 | 0.3% | 0.3% | ||
| Q3 24 | 0.2% | 0.3% | ||
| Q2 24 | 0.7% | 0.6% | ||
| Q1 24 | 0.1% | 0.1% |
现金转化率NODKRPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.53× | — | ||
| Q4 24 | 2.21× | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.60× | — |
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
NODK
暂无分部数据
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
