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ON24 INC.（ONTF）与REDWOOD TRUST INC（RWT）财务数据对比。点击上方公司名可切换其他公司
ON24 INC.的季度营收约是REDWOOD TRUST INC的1.3倍（$34.6M vs $25.9M），REDWOOD TRUST INC净利率更高（77.2% vs -18.8%，领先96.0%），ON24 INC.同比增速更快（-5.6% vs -6.1%），过去两年ON24 INC.的营收复合增速更高（-4.2% vs -41.0%）
ON24 INC.是一家总部位于美国旧金山的企业，为B2B企业的营销与销售团队提供基于云的SaaS服务，开发并提供网络研讨会、虚拟会议、内容中心与着陆页应用，2023年其服务范围已扩展至生成式AI领域。
Redwood Trust Inc是总部位于美国的专业房地产投资信托公司，主营住宅与商业抵押贷款、抵押贷款支持证券及房地产信贷类资产的投资管理，核心业务覆盖住宅抵押贷款发放、商业地产信贷和投资服务，客户以机构投资者和房地产市场参与者为主。
ONTF vs RWT — 直观对比
营收规模更大
ONTF
是对方的1.3倍
$25.9M
营收增速更快
ONTF
高出0.5%
-6.1%
净利率更高
RWT
高出96.0%
-18.8%
两年增速更快
ONTF
近两年复合增速
-41.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $34.6M | $25.9M |
| 净利润 | $-6.5M | $20.0M |
| 毛利率 | 74.9% | — |
| 营业利润率 | -23.5% | — |
| 净利率 | -18.8% | 77.2% |
| 营收同比 | -5.6% | -6.1% |
| 净利润同比 | 26.8% | 402.6% |
| 每股收益（稀释后） | $-0.15 | $0.11 |
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ONTFRWT
| Q4 25 | $34.6M | $25.9M | ||
| Q3 25 | $34.6M | $15.0M | ||
| Q2 25 | $35.3M | $13.8M | ||
| Q1 25 | $34.7M | $27.9M | ||
| Q4 24 | $36.7M | $27.6M | ||
| Q3 24 | $36.3M | $25.5M | ||
| Q2 24 | $37.3M | $67.4M | ||
| Q1 24 | $37.7M | $74.5M |
净利润ONTFRWT
| Q4 25 | $-6.5M | $20.0M | ||
| Q3 25 | $-6.4M | $-7.7M | ||
| Q2 25 | $-7.3M | $-98.5M | ||
| Q1 25 | $-8.7M | $16.1M | ||
| Q4 24 | $-8.9M | $-6.6M | ||
| Q3 24 | $-11.4M | $14.8M | ||
| Q2 24 | $-11.2M | $15.5M | ||
| Q1 24 | $-10.7M | $30.3M |
毛利率ONTFRWT
| Q4 25 | 74.9% | — | ||
| Q3 25 | 74.7% | — | ||
| Q2 25 | 75.1% | — | ||
| Q1 25 | 73.8% | — | ||
| Q4 24 | 74.5% | — | ||
| Q3 24 | 74.3% | — | ||
| Q2 24 | 74.5% | — | ||
| Q1 24 | 74.1% | — |
营业利润率ONTFRWT
| Q4 25 | -23.5% | — | ||
| Q3 25 | -23.1% | -9.0% | ||
| Q2 25 | -26.0% | -679.0% | ||
| Q1 25 | -30.1% | 80.2% | ||
| Q4 24 | -32.1% | -1.3% | ||
| Q3 24 | -36.7% | 86.1% | ||
| Q2 24 | -35.0% | 30.3% | ||
| Q1 24 | -33.1% | 41.3% |
净利率ONTFRWT
| Q4 25 | -18.8% | 77.2% | ||
| Q3 25 | -18.4% | -51.4% | ||
| Q2 25 | -20.6% | -712.0% | ||
| Q1 25 | -25.1% | 57.8% | ||
| Q4 24 | -24.2% | -24.0% | ||
| Q3 24 | -31.4% | 58.1% | ||
| Q2 24 | -29.9% | 23.0% | ||
| Q1 24 | -28.4% | 40.6% |
每股收益（稀释后）ONTFRWT
| Q4 25 | $-0.15 | $0.11 | ||
| Q3 25 | $-0.15 | $-0.08 | ||
| Q2 25 | $-0.17 | $-0.76 | ||
| Q1 25 | $-0.21 | $0.10 | ||
| Q4 24 | $-0.21 | $-0.08 | ||
| Q3 24 | $-0.27 | $0.09 | ||
| Q2 24 | $-0.27 | $0.10 | ||
| Q1 24 | $-0.26 | $0.21 |
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 | $37.0M | $255.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $139.4M | $982.6M |
| 总资产 | $228.4M | $23.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ONTFRWT
| Q4 25 | $37.0M | $255.7M | ||
| Q3 25 | $47.2M | $226.3M | ||
| Q2 25 | $37.7M | $302.0M | ||
| Q1 25 | $26.8M | $259.9M | ||
| Q4 24 | $14.9M | $245.2M | ||
| Q3 24 | $11.0M | $253.7M | ||
| Q2 24 | $15.5M | $275.6M | ||
| Q1 24 | $18.3M | $275.4M |
总债务ONTFRWT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.7B |
股东权益ONTFRWT
| Q4 25 | $139.4M | $982.6M | ||
| Q3 25 | $144.3M | $999.0M | ||
| Q2 25 | $150.0M | $1.1B | ||
| Q1 25 | $153.7M | $1.2B | ||
| Q4 24 | $159.4M | $1.2B | ||
| Q3 24 | $164.9M | $1.2B | ||
| Q2 24 | $170.8M | $1.2B | ||
| Q1 24 | $174.4M | $1.2B |
总资产ONTFRWT
| Q4 25 | $228.4M | $23.7B | ||
| Q3 25 | $224.8M | $22.6B | ||
| Q2 25 | $235.1M | $21.3B | ||
| Q1 25 | $245.8M | $19.9B | ||
| Q4 24 | $251.0M | $18.3B | ||
| Q3 24 | $250.9M | $18.4B | ||
| Q2 24 | $259.0M | $16.5B | ||
| Q1 24 | $269.2M | $15.1B |
负债/权益比ONTFRWT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.39× |
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 | $-1.1M | $-10.1B |
| 自由现金流经营现金流 - 资本支出 | $-2.2M | — |
| 自由现金流率自由现金流/营收 | -6.4% | — |
| 资本支出强度资本支出/营收 | 3.3% | — |
| 现金转化率经营现金流/净利润 | — | -504.15× |
| 过去12个月自由现金流最近4个季度 | $4.0M | — |
8季度趋势，按日历期对齐
经营现金流ONTFRWT
| Q4 25 | $-1.1M | $-10.1B | ||
| Q3 25 | $2.5M | $-2.7B | ||
| Q2 25 | $2.6M | $-2.1B | ||
| Q1 25 | $3.4M | $-2.0B | ||
| Q4 24 | $985.0K | $-5.9B | ||
| Q3 24 | $295.0K | $-2.1B | ||
| Q2 24 | $1.4M | $-2.0B | ||
| Q1 24 | $2.1M | $-954.2M |
自由现金流ONTFRWT
| Q4 25 | $-2.2M | — | ||
| Q3 25 | $2.2M | — | ||
| Q2 25 | $2.1M | — | ||
| Q1 25 | $1.9M | — | ||
| Q4 24 | $424.0K | — | ||
| Q3 24 | $143.0K | — | ||
| Q2 24 | $898.0K | — | ||
| Q1 24 | $1.1M | — |
自由现金流率ONTFRWT
| Q4 25 | -6.4% | — | ||
| Q3 25 | 6.2% | — | ||
| Q2 25 | 5.9% | — | ||
| Q1 25 | 5.6% | — | ||
| Q4 24 | 1.2% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 2.9% | — |
资本支出强度ONTFRWT
| Q4 25 | 3.3% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 2.8% | — |
现金转化率ONTFRWT
| Q4 25 | — | -504.15× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -120.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -140.86× | ||
| Q2 24 | — | -126.56× | ||
| Q1 24 | — | -31.53× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
