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FiscalNote Holdings, Inc.（NOTE）与Pathfinder Bancorp, Inc.（PBHC）财务数据对比。点击上方公司名可切换其他公司
FiscalNote Holdings, Inc.的季度营收约是Pathfinder Bancorp, Inc.的1.9倍（$22.2M vs $11.8M），Pathfinder Bancorp, Inc.同比增速更快（-22.6% vs -24.7%），Pathfinder Bancorp, Inc.自由现金流更多（$10.4M vs $-1.9M），过去两年Pathfinder Bancorp, Inc.的营收复合增速更高（3.0% vs -16.8%）
FiscalNote Holdings, Inc.（常称FiscalNote）是一家上市的软件数据与传媒企业，总部位于美国华盛顿特区，2013年由三位创始人创立。核心业务为通过政府关系管理服务FiscalNote GRM提供软件工具、平台、数据服务与资讯，同时依托人工智能平台分析美国待审议法案相关内容。
Pathfinder Bancorp, Inc.是美国区域性银行控股公司，旗下运营探路者银行，服务纽约州中部市场，为个人消费者及中小企业提供存款账户、住房抵押贷款、商业贷款、财富管理等各类金融服务。
NOTE vs PBHC — 直观对比
营收规模更大
NOTE
是对方的1.9倍
$11.8M
营收增速更快
PBHC
高出2.0%
-24.7%
自由现金流更多
PBHC
多$12.3M
$-1.9M
两年增速更快
PBHC
近两年复合增速
-16.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $22.2M | $11.8M |
| 净利润 | — | $-5.6M |
| 毛利率 | — | — |
| 营业利润率 | -83.7% | -81.1% |
| 净利率 | — | -52.9% |
| 营收同比 | -24.7% | -22.6% |
| 净利润同比 | — | -242.4% |
| 每股收益（稀释后） | $-2.81 | — |
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NOTEPBHC
| Q4 25 | $22.2M | $11.8M | ||
| Q3 25 | $22.4M | $13.1M | ||
| Q2 25 | $23.3M | $9.3M | ||
| Q1 25 | $27.5M | $12.6M | ||
| Q4 24 | $29.5M | $15.3M | ||
| Q3 24 | $29.4M | $13.4M | ||
| Q2 24 | $29.2M | $10.7M | ||
| Q1 24 | $32.1M | $11.1M |
净利润NOTEPBHC
| Q4 25 | — | $-5.6M | ||
| Q3 25 | $-24.9M | $626.0K | ||
| Q2 25 | $-13.3M | $31.0K | ||
| Q1 25 | $-4.3M | $3.0M | ||
| Q4 24 | — | $3.9M | ||
| Q3 24 | $-14.9M | $-4.6M | ||
| Q2 24 | $-12.8M | $2.0M | ||
| Q1 24 | $50.6M | $2.1M |
营业利润率NOTEPBHC
| Q4 25 | -83.7% | -81.1% | ||
| Q3 25 | -43.4% | 5.1% | ||
| Q2 25 | -31.9% | 0.4% | ||
| Q1 25 | -50.0% | 29.5% | ||
| Q4 24 | -19.4% | 55.4% | ||
| Q3 24 | -23.1% | -43.1% | ||
| Q2 24 | -27.2% | 23.3% | ||
| Q1 24 | -35.6% | 24.3% |
净利率NOTEPBHC
| Q4 25 | — | -52.9% | ||
| Q3 25 | -110.8% | 4.8% | ||
| Q2 25 | -57.0% | 0.3% | ||
| Q1 25 | -15.4% | 23.6% | ||
| Q4 24 | — | 37.7% | ||
| Q3 24 | -50.7% | -34.6% | ||
| Q2 24 | -43.6% | 18.7% | ||
| Q1 24 | 157.6% | 19.0% |
每股收益（稀释后）NOTEPBHC
| Q4 25 | $-2.81 | — | ||
| Q3 25 | $-1.73 | $0.47 | ||
| Q2 25 | $-0.08 | $0.47 | ||
| Q1 25 | $-0.03 | — | ||
| Q4 24 | $1.88 | — | ||
| Q3 24 | $-1.33 | $0.41 | ||
| Q2 24 | $-0.09 | $0.41 | ||
| Q1 24 | $0.37 | — |
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 | $26.3M | — |
| 总债务越低越好 | $128.4M | $14.1M |
| 股东权益账面价值 | $62.0M | $122.5M |
| 总资产 | $255.1M | $1.4B |
| 负债/权益比越低杠杆越低 | 2.07× | 0.11× |
8季度趋势，按日历期对齐
现金及短期投资NOTEPBHC
| Q4 25 | $26.3M | — | ||
| Q3 25 | $31.2M | — | ||
| Q2 25 | $38.5M | — | ||
| Q1 25 | $46.3M | — | ||
| Q4 24 | $34.6M | — | ||
| Q3 24 | $32.7M | — | ||
| Q2 24 | $37.7M | — | ||
| Q1 24 | $43.6M | — |
总债务NOTEPBHC
| Q4 25 | $128.4M | $14.1M | ||
| Q3 25 | $131.5M | $18.7M | ||
| Q2 25 | $116.7M | $21.0M | ||
| Q1 25 | $118.0M | $17.6M | ||
| Q4 24 | $147.1M | $27.1M | ||
| Q3 24 | $152.2M | $39.8M | ||
| Q2 24 | $145.9M | $45.9M | ||
| Q1 24 | $153.0M | $45.9M |
股东权益NOTEPBHC
| Q4 25 | $62.0M | $122.5M | ||
| Q3 25 | $75.5M | $126.3M | ||
| Q2 25 | $95.1M | $124.4M | ||
| Q1 25 | $98.7M | $124.9M | ||
| Q4 24 | $97.8M | $121.5M | ||
| Q3 24 | $98.5M | $120.2M | ||
| Q2 24 | $106.9M | $123.3M | ||
| Q1 24 | $106.1M | $121.8M |
总资产NOTEPBHC
| Q4 25 | $255.1M | $1.4B | ||
| Q3 25 | $273.9M | $1.5B | ||
| Q2 25 | $288.3M | $1.5B | ||
| Q1 25 | $299.7M | $1.5B | ||
| Q4 24 | $326.2M | $1.5B | ||
| Q3 24 | $337.9M | $1.5B | ||
| Q2 24 | $346.3M | $1.4B | ||
| Q1 24 | $357.8M | $1.5B |
负债/权益比NOTEPBHC
| Q4 25 | 2.07× | 0.11× | ||
| Q3 25 | 1.74× | 0.15× | ||
| Q2 25 | 1.23× | 0.17× | ||
| Q1 25 | 1.20× | 0.14× | ||
| Q4 24 | 1.50× | 0.22× | ||
| Q3 24 | 1.54× | 0.33× | ||
| Q2 24 | 1.36× | 0.37× | ||
| Q1 24 | 1.44× | 0.38× |
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 | $-279.0K | $11.7M |
| 自由现金流经营现金流 - 资本支出 | $-1.9M | $10.4M |
| 自由现金流率自由现金流/营收 | -8.7% | 88.1% |
| 资本支出强度资本支出/营收 | 7.4% | 10.7% |
| 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 | $-18.6M | $18.4M |
8季度趋势，按日历期对齐
经营现金流NOTEPBHC
| Q4 25 | $-279.0K | $11.7M | ||
| Q3 25 | $-8.3M | $7.0M | ||
| Q2 25 | $-6.2M | $-3.7M | ||
| Q1 25 | $3.3M | $5.7M | ||
| Q4 24 | $-1.3M | $11.2M | ||
| Q3 24 | $-3.0M | $11.8M | ||
| Q2 24 | $-3.7M | $1.5M | ||
| Q1 24 | $2.7M | $504.0K |
自由现金流NOTEPBHC
| Q4 25 | $-1.9M | $10.4M | ||
| Q3 25 | $-10.4M | $6.9M | ||
| Q2 25 | $-7.7M | $-4.0M | ||
| Q1 25 | $1.3M | $5.1M | ||
| Q4 24 | $-3.4M | $9.1M | ||
| Q3 24 | $-5.4M | $11.3M | ||
| Q2 24 | $-6.5M | $637.0K | ||
| Q1 24 | $1.0M | $274.0K |
自由现金流率NOTEPBHC
| Q4 25 | -8.7% | 88.1% | ||
| Q3 25 | -46.2% | 52.8% | ||
| Q2 25 | -33.0% | -42.6% | ||
| Q1 25 | 4.7% | 40.1% | ||
| Q4 24 | -11.4% | 59.9% | ||
| Q3 24 | -18.4% | 84.3% | ||
| Q2 24 | -22.1% | 6.0% | ||
| Q1 24 | 3.3% | 2.5% |
资本支出强度NOTEPBHC
| Q4 25 | 7.4% | 10.7% | ||
| Q3 25 | 9.3% | 1.0% | ||
| Q2 25 | 6.4% | 2.4% | ||
| Q1 25 | 7.2% | 5.1% | ||
| Q4 24 | 6.8% | 13.5% | ||
| Q3 24 | 8.3% | 3.8% | ||
| Q2 24 | 9.4% | 8.2% | ||
| Q1 24 | 5.3% | 2.1% |
现金转化率NOTEPBHC
| Q4 25 | — | — | ||
| Q3 25 | — | 11.26× | ||
| Q2 25 | — | -120.55× | ||
| Q1 25 | — | 1.92× | ||
| Q4 24 | — | 2.87× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | 0.05× | 0.24× |
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
NOTE
| Subscription | $21.2M | 95% |
| Advisory Advertising And Other | $1.0M | 5% |
PBHC
| Other | $5.6M | 47% |
| Banking | $3.7M | 31% |
| Deposit Account | $1.5M | 13% |
| Financial Service Other | $1.0M | 9% |
