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OPEN TEXT CORP（OTEX）与Waystar Holding Corp.（WAY）财务数据对比。点击上方公司名可切换其他公司
OPEN TEXT CORP的季度营收约是Waystar Holding Corp.的4.4倍（$1.3B vs $303.5M）。OPEN TEXT CORP净利率更高（12.7% vs 6.6%，领先6.1%）。Waystar Holding Corp.同比增速更快（24.3% vs -0.6%）。OPEN TEXT CORP自由现金流更多（$279.4M vs $57.2M）。过去两年Waystar Holding Corp.的营收复合增速更高（16.2% vs -4.3%）
Open Text Corporation是全球知名的跨国软件企业，专注于信息管理类软件的研发与销售，业务覆盖全球众多国家和地区，可为各行业客户提供成熟的信息管理解决方案，助力企业高效管理数据资产，推进数字化转型落地。
Waystar Holding Corp是一家领先的医疗健康支付与营收周期管理解决方案提供商，服务覆盖美国各地的医疗机构、医疗系统和支付方，旗下工具可简化账单处理、理赔申请、患者缴费流程，帮助医疗机构降低行政负担、优化营收表现。
OTEX vs WAY — 直观对比
营收规模更大
OTEX
是对方的4.4倍
$303.5M
营收增速更快
WAY
高出24.9%
-0.6%
净利率更高
OTEX
高出6.1%
6.6%
自由现金流更多
OTEX
多$222.2M
$57.2M
两年增速更快
WAY
近两年复合增速
-4.3%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $303.5M |
| 净利润 | $168.1M | $20.0M |
| 毛利率 | 74.0% | — |
| 营业利润率 | 22.0% | 19.4% |
| 净利率 | 12.7% | 6.6% |
| 营收同比 | -0.6% | 24.3% |
| 净利润同比 | -26.9% | 4.8% |
| 每股收益（稀释后） | $0.66 | $0.10 |
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OTEXWAY
| Q4 25 | $1.3B | $303.5M | ||
| Q3 25 | $1.3B | $268.7M | ||
| Q2 25 | $1.3B | $270.7M | ||
| Q1 25 | $1.3B | $256.4M | ||
| Q4 24 | $1.3B | $244.1M | ||
| Q3 24 | $1.3B | $240.1M | ||
| Q2 24 | $1.4B | $234.5M | ||
| Q1 24 | $1.4B | $224.8M |
净利润OTEXWAY
| Q4 25 | $168.1M | $20.0M | ||
| Q3 25 | $146.6M | $30.6M | ||
| Q2 25 | $28.8M | $32.2M | ||
| Q1 25 | $92.8M | $29.3M | ||
| Q4 24 | $229.9M | $19.1M | ||
| Q3 24 | $84.4M | $5.4M | ||
| Q2 24 | $248.2M | $-27.7M | ||
| Q1 24 | $98.3M | $-15.9M |
毛利率OTEXWAY
| Q4 25 | 74.0% | — | ||
| Q3 25 | 72.8% | — | ||
| Q2 25 | 72.3% | — | ||
| Q1 25 | 71.6% | — | ||
| Q4 24 | 73.3% | — | ||
| Q3 24 | 71.7% | — | ||
| Q2 24 | 72.5% | — | ||
| Q1 24 | 73.0% | — |
营业利润率OTEXWAY
| Q4 25 | 22.0% | 19.4% | ||
| Q3 25 | 21.0% | 22.4% | ||
| Q2 25 | 13.9% | 24.0% | ||
| Q1 25 | 16.7% | 25.4% | ||
| Q4 24 | 22.2% | 21.8% | ||
| Q3 24 | 16.3% | 11.3% | ||
| Q2 24 | 14.2% | 3.5% | ||
| Q1 24 | 15.7% | 15.7% |
净利率OTEXWAY
| Q4 25 | 12.7% | 6.6% | ||
| Q3 25 | 11.4% | 11.4% | ||
| Q2 25 | 2.2% | 11.9% | ||
| Q1 25 | 7.4% | 11.4% | ||
| Q4 24 | 17.2% | 7.8% | ||
| Q3 24 | 6.6% | 2.3% | ||
| Q2 24 | 18.2% | -11.8% | ||
| Q1 24 | 6.8% | -7.1% |
每股收益（稀释后）OTEXWAY
| Q4 25 | $0.66 | $0.10 | ||
| Q3 25 | $0.58 | $0.17 | ||
| Q2 25 | $0.11 | $0.18 | ||
| Q1 25 | $0.35 | $0.16 | ||
| Q4 24 | $0.87 | $0.18 | ||
| Q3 24 | $0.32 | $0.03 | ||
| Q2 24 | $0.91 | $-0.21 | ||
| Q1 24 | $0.36 | $-0.13 |
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 | $1.3B | $61.4M |
| 总债务越低越好 | $6.4B | $1.5B |
| 股东权益账面价值 | $4.0B | $3.9B |
| 总资产 | $13.6B | $5.8B |
| 负债/权益比越低杠杆越低 | 1.58× | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资OTEXWAY
| Q4 25 | $1.3B | $61.4M | ||
| Q3 25 | $1.1B | $421.1M | ||
| Q2 25 | $1.2B | $290.3M | ||
| Q1 25 | $1.3B | $224.0M | ||
| Q4 24 | $1.1B | $182.1M | ||
| Q3 24 | $1.0B | $127.1M | ||
| Q2 24 | $1.3B | $68.4M | ||
| Q1 24 | $1.1B | $57.3M |
总债务OTEXWAY
| Q4 25 | $6.4B | $1.5B | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.4B | — | ||
| Q4 24 | $6.4B | $1.2B | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.4B | — | ||
| Q1 24 | $8.4B | — |
股东权益OTEXWAY
| Q4 25 | $4.0B | $3.9B | ||
| Q3 25 | $4.0B | $3.2B | ||
| Q2 25 | $3.9B | $3.2B | ||
| Q1 25 | $4.1B | $3.1B | ||
| Q4 24 | $4.2B | $3.1B | ||
| Q3 24 | $4.1B | $3.1B | ||
| Q2 24 | $4.2B | $2.9B | ||
| Q1 24 | $4.1B | $2.0B |
总资产OTEXWAY
| Q4 25 | $13.6B | $5.8B | ||
| Q3 25 | $13.5B | $4.7B | ||
| Q2 25 | $13.8B | $4.7B | ||
| Q1 25 | $13.8B | $4.6B | ||
| Q4 24 | $13.7B | $4.6B | ||
| Q3 24 | $13.8B | $4.5B | ||
| Q2 24 | $14.2B | $4.6B | ||
| Q1 24 | $16.4B | — |
负债/权益比OTEXWAY
| Q4 25 | 1.58× | 0.38× | ||
| Q3 25 | 1.61× | — | ||
| Q2 25 | 1.62× | — | ||
| Q1 25 | 1.55× | — | ||
| Q4 24 | 1.51× | 0.40× | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.52× | — | ||
| Q1 24 | 2.02× | — |
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 | $318.7M | $66.6M |
| 自由现金流经营现金流 - 资本支出 | $279.4M | $57.2M |
| 自由现金流率自由现金流/营收 | 21.1% | 18.9% |
| 资本支出强度资本支出/营收 | 3.0% | 3.1% |
| 现金转化率经营现金流/净利润 | 1.90× | 3.33× |
| 过去12个月自由现金流最近4个季度 | $878.5M | $283.2M |
8季度趋势，按日历期对齐
经营现金流OTEXWAY
| Q4 25 | $318.7M | $66.6M | ||
| Q3 25 | $147.8M | $82.0M | ||
| Q2 25 | $158.2M | $96.8M | ||
| Q1 25 | $402.2M | $64.2M | ||
| Q4 24 | $348.0M | — | ||
| Q3 24 | $-77.8M | $78.8M | ||
| Q2 24 | $185.2M | $15.4M | ||
| Q1 24 | $384.7M | $10.7M |
自由现金流OTEXWAY
| Q4 25 | $279.4M | $57.2M | ||
| Q3 25 | $101.2M | $76.2M | ||
| Q2 25 | $124.0M | $91.0M | ||
| Q1 25 | $373.8M | $58.8M | ||
| Q4 24 | $306.7M | — | ||
| Q3 24 | $-117.1M | $70.2M | ||
| Q2 24 | $145.2M | $8.6M | ||
| Q1 24 | $348.2M | $5.2M |
自由现金流率OTEXWAY
| Q4 25 | 21.1% | 18.9% | ||
| Q3 25 | 7.9% | 28.3% | ||
| Q2 25 | 9.5% | 33.6% | ||
| Q1 25 | 29.8% | 22.9% | ||
| Q4 24 | 23.0% | — | ||
| Q3 24 | -9.2% | 29.2% | ||
| Q2 24 | 10.7% | 3.7% | ||
| Q1 24 | 24.1% | 2.3% |
资本支出强度OTEXWAY
| Q4 25 | 3.0% | 3.1% | ||
| Q3 25 | 3.6% | 2.2% | ||
| Q2 25 | 2.6% | 2.1% | ||
| Q1 25 | 2.3% | 2.1% | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | 3.1% | 3.6% | ||
| Q2 24 | 2.9% | 2.9% | ||
| Q1 24 | 2.5% | 2.5% |
现金转化率OTEXWAY
| Q4 25 | 1.90× | 3.33× | ||
| Q3 25 | 1.01× | 2.68× | ||
| Q2 25 | 5.49× | 3.01× | ||
| Q1 25 | 4.33× | 2.20× | ||
| Q4 24 | 1.51× | — | ||
| Q3 24 | -0.92× | 14.56× | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 3.91× | — |
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
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
WAY
| Subscription And Circulation | $167.8M | 55% |
| Volume Based Revenue | $134.2M | 44% |
| Implementation Services And Other Revenue | $1.5M | 1% |
