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FiscalNote Holdings, Inc.（NOTE）与PETMED EXPRESS INC（PETS）财务数据对比。点击上方公司名可切换其他公司
PETMED EXPRESS INC的季度营收约是FiscalNote Holdings, Inc.的1.8倍（$40.7M vs $22.2M），PETMED EXPRESS INC同比增速更快（-23.3% vs -24.7%），FiscalNote Holdings, Inc.自由现金流更多（$-1.9M vs $-9.2M），过去两年FiscalNote Holdings, Inc.的营收复合增速更高（-16.8% vs -20.9%）
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。
PetMed Express，也叫PetMeds，是总部位于美国的线上宠物药房。该企业公开上市，主营宠物处方及非处方药物销售业务，是北美知名的宠物医药线上零售平台。
NOTE vs PETS — 直观对比
营收规模更大
PETS
是对方的1.8倍
$22.2M
营收增速更快
PETS
高出1.4%
-24.7%
自由现金流更多
NOTE
多$7.3M
$-9.2M
两年增速更快
NOTE
近两年复合增速
-20.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $22.2M | $40.7M |
| 净利润 | — | $-10.6M |
| 毛利率 | — | 23.3% |
| 营业利润率 | -83.7% | -25.7% |
| 净利率 | — | -26.0% |
| 营收同比 | -24.7% | -23.3% |
| 净利润同比 | — | -1392.6% |
| 每股收益（稀释后） | $-2.81 | $-0.50 |
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NOTEPETS
| Q4 25 | $22.2M | $40.7M | ||
| Q3 25 | $22.4M | $44.4M | ||
| Q2 25 | $23.3M | $51.2M | ||
| Q1 25 | $27.5M | $50.8M | ||
| Q4 24 | $29.5M | $52.0M | ||
| Q3 24 | $29.4M | $58.0M | ||
| Q2 24 | $29.2M | $66.2M | ||
| Q1 24 | $32.1M | $65.1M |
净利润NOTEPETS
| Q4 25 | — | $-10.6M | ||
| Q3 25 | $-24.9M | $-8.5M | ||
| Q2 25 | $-13.3M | $-34.2M | ||
| Q1 25 | $-4.3M | $-11.6M | ||
| Q4 24 | — | $-707.0K | ||
| Q3 24 | $-14.9M | $2.3M | ||
| Q2 24 | $-12.8M | $3.8M | ||
| Q1 24 | $50.6M | $-5.0M |
毛利率NOTEPETS
| Q4 25 | — | 23.3% | ||
| Q3 25 | — | 28.0% | ||
| Q2 25 | — | 28.1% | ||
| Q1 25 | — | 29.9% | ||
| Q4 24 | — | 31.0% | ||
| Q3 24 | — | 32.3% | ||
| Q2 24 | — | 28.8% | ||
| Q1 24 | — | 29.3% |
营业利润率NOTEPETS
| Q4 25 | -83.7% | -25.7% | ||
| Q3 25 | -43.4% | -18.9% | ||
| Q2 25 | -31.9% | -66.7% | ||
| Q1 25 | -50.0% | -11.9% | ||
| Q4 24 | -19.4% | -0.9% | ||
| Q3 24 | -23.1% | 1.0% | ||
| Q2 24 | -27.2% | 6.6% | ||
| Q1 24 | -35.6% | -5.9% |
净利率NOTEPETS
| Q4 25 | — | -26.0% | ||
| Q3 25 | -110.8% | -19.2% | ||
| Q2 25 | -57.0% | -66.7% | ||
| Q1 25 | -15.4% | -22.9% | ||
| Q4 24 | — | -1.4% | ||
| Q3 24 | -50.7% | 4.0% | ||
| Q2 24 | -43.6% | 5.7% | ||
| Q1 24 | 157.6% | -7.7% |
每股收益（稀释后）NOTEPETS
| Q4 25 | $-2.81 | $-0.50 | ||
| Q3 25 | $-1.73 | $-0.41 | ||
| Q2 25 | $-0.08 | $-1.65 | ||
| Q1 25 | $-0.03 | $-0.56 | ||
| Q4 24 | $1.88 | $-0.03 | ||
| Q3 24 | $-1.33 | $0.11 | ||
| Q2 24 | $-0.09 | $0.18 | ||
| Q1 24 | $0.37 | $-0.24 |
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 | $26.9M |
| 总债务越低越好 | $128.4M | — |
| 股东权益账面价值 | $62.0M | $32.8M |
| 总资产 | $255.1M | $88.0M |
| 负债/权益比越低杠杆越低 | 2.07× | — |
8季度趋势，按日历期对齐
现金及短期投资NOTEPETS
| Q4 25 | $26.3M | $26.9M | ||
| Q3 25 | $31.2M | $36.1M | ||
| Q2 25 | $38.5M | $41.1M | ||
| Q1 25 | $46.3M | $54.7M | ||
| Q4 24 | $34.6M | $50.1M | ||
| Q3 24 | $32.7M | $52.0M | ||
| Q2 24 | $37.7M | $46.0M | ||
| Q1 24 | $43.6M | $55.3M |
总债务NOTEPETS
| Q4 25 | $128.4M | — | ||
| Q3 25 | $131.5M | — | ||
| Q2 25 | $116.7M | — | ||
| Q1 25 | $118.0M | — | ||
| Q4 24 | $147.1M | — | ||
| Q3 24 | $152.2M | — | ||
| Q2 24 | $145.9M | — | ||
| Q1 24 | $153.0M | — |
股东权益NOTEPETS
| Q4 25 | $62.0M | $32.8M | ||
| Q3 25 | $75.5M | $43.1M | ||
| Q2 25 | $95.1M | $51.5M | ||
| Q1 25 | $98.7M | $85.1M | ||
| Q4 24 | $97.8M | $96.2M | ||
| Q3 24 | $98.5M | $96.4M | ||
| Q2 24 | $106.9M | $93.5M | ||
| Q1 24 | $106.1M | $96.7M |
总资产NOTEPETS
| Q4 25 | $255.1M | $88.0M | ||
| Q3 25 | $273.9M | $100.3M | ||
| Q2 25 | $288.3M | $109.8M | ||
| Q1 25 | $299.7M | $148.7M | ||
| Q4 24 | $326.2M | $144.8M | ||
| Q3 24 | $337.9M | $146.0M | ||
| Q2 24 | $346.3M | $152.7M | ||
| Q1 24 | $357.8M | $169.9M |
负债/权益比NOTEPETS
| Q4 25 | 2.07× | — | ||
| Q3 25 | 1.74× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 1.20× | — | ||
| Q4 24 | 1.50× | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.36× | — | ||
| Q1 24 | 1.44× | — |
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 | $-9.2M |
| 自由现金流经营现金流 - 资本支出 | $-1.9M | $-9.2M |
| 自由现金流率自由现金流/营收 | -8.7% | -22.7% |
| 资本支出强度资本支出/营收 | 7.4% | 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 | $-18.6M | $-23.0M |
8季度趋势，按日历期对齐
经营现金流NOTEPETS
| Q4 25 | $-279.0K | $-9.2M | ||
| Q3 25 | $-8.3M | $-2.2M | ||
| Q2 25 | $-6.2M | $-12.3M | ||
| Q1 25 | $3.3M | $7.0M | ||
| Q4 24 | $-1.3M | $-1.2M | ||
| Q3 24 | $-3.0M | $7.4M | ||
| Q2 24 | $-3.7M | $-8.5M | ||
| Q1 24 | $2.7M | $7.1M |
自由现金流NOTEPETS
| Q4 25 | $-1.9M | $-9.2M | ||
| Q3 25 | $-10.4M | $-4.8M | ||
| Q2 25 | $-7.7M | $-13.6M | ||
| Q1 25 | $1.3M | $4.6M | ||
| Q4 24 | $-3.4M | $-1.9M | ||
| Q3 24 | $-5.4M | $6.1M | ||
| Q2 24 | $-6.5M | $-9.2M | ||
| Q1 24 | $1.0M | $5.9M |
自由现金流率NOTEPETS
| Q4 25 | -8.7% | -22.7% | ||
| Q3 25 | -46.2% | -10.8% | ||
| Q2 25 | -33.0% | -26.5% | ||
| Q1 25 | 4.7% | 9.1% | ||
| Q4 24 | -11.4% | -3.7% | ||
| Q3 24 | -18.4% | 10.6% | ||
| Q2 24 | -22.1% | -13.9% | ||
| Q1 24 | 3.3% | 9.0% |
资本支出强度NOTEPETS
| Q4 25 | 7.4% | 0.1% | ||
| Q3 25 | 9.3% | 5.9% | ||
| Q2 25 | 6.4% | 2.5% | ||
| Q1 25 | 7.2% | 4.7% | ||
| Q4 24 | 6.8% | 1.5% | ||
| Q3 24 | 8.3% | 2.2% | ||
| Q2 24 | 9.4% | 1.0% | ||
| Q1 24 | 5.3% | 1.9% |
现金转化率NOTEPETS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.18× | ||
| Q2 24 | — | -2.27× | ||
| Q1 24 | 0.05× | — |
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% |
PETS
| Reorder | $34.0M | 84% |
| New Order | $5.0M | 12% |
| Membership Fees | $1.6M | 4% |
