vs
UiPath, Inc.（PATH）与怡安集团（RYAN）财务数据对比。点击上方公司名可切换其他公司
怡安集团的季度营收约是UiPath, Inc.的1.9倍（$795.2M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 5.1%，领先43.3%），UiPath, Inc.同比增速更快（15.9% vs 15.2%），过去两年怡安集团的营收复合增速更高（8.1% vs 0.7%）
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
怡安集团是一家业务横跨英美两国的专业服务企业，目前主要开展两大板块业务：风险资本板块提供风险管理、保险及再保险领域的经纪与咨询服务；人力资本板块则提供健康保险、退休计划、养老金计划与人才咨询相关服务。
PATH vs RYAN — 直观对比
营收规模更大
RYAN
是对方的1.9倍
$411.1M
营收增速更快
PATH
高出0.7%
15.2%
净利率更高
PATH
高出43.3%
5.1%
两年增速更快
RYAN
近两年复合增速
0.7%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $411.1M | $795.2M |
| 净利润 | $198.8M | $40.6M |
| 毛利率 | 83.3% | — |
| 营业利润率 | 3.2% | 11.9% |
| 净利率 | 48.4% | 5.1% |
| 营收同比 | 15.9% | 15.2% |
| 净利润同比 | 1966.2% | 1025.0% |
| 每股收益（稀释后） | $0.37 | $0.13 |
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PATHRYAN
| Q1 26 | — | $795.2M | ||
| Q4 25 | $411.1M | $738.0M | ||
| Q3 25 | $361.7M | $739.6M | ||
| Q2 25 | $356.6M | $840.9M | ||
| Q1 25 | $423.6M | $676.1M | ||
| Q4 24 | $354.7M | $649.4M | ||
| Q3 24 | $316.3M | $588.1M | ||
| Q2 24 | $335.1M | $680.2M |
净利润PATHRYAN
| Q1 26 | — | $40.6M | ||
| Q4 25 | $198.8M | $8.0M | ||
| Q3 25 | $1.6M | $31.1M | ||
| Q2 25 | $-22.6M | $52.0M | ||
| Q1 25 | $51.8M | $-27.6M | ||
| Q4 24 | $-10.7M | $13.8M | ||
| Q3 24 | $-86.1M | $17.6M | ||
| Q2 24 | $-28.7M | $46.8M |
毛利率PATHRYAN
| Q1 26 | — | — | ||
| Q4 25 | 83.3% | — | ||
| Q3 25 | 82.2% | — | ||
| Q2 25 | 82.1% | — | ||
| Q1 25 | 84.8% | — | ||
| Q4 24 | 82.0% | — | ||
| Q3 24 | 80.0% | — | ||
| Q2 24 | 83.5% | — |
营业利润率PATHRYAN
| Q1 26 | — | 11.9% | ||
| Q4 25 | 3.2% | 12.4% | ||
| Q3 25 | -5.6% | 15.0% | ||
| Q2 25 | -4.6% | 22.7% | ||
| Q1 25 | 7.9% | 14.8% | ||
| Q4 24 | -12.2% | 16.8% | ||
| Q3 24 | -32.7% | 13.9% | ||
| Q2 24 | -14.8% | 24.2% |
净利率PATHRYAN
| Q1 26 | — | 5.1% | ||
| Q4 25 | 48.4% | 1.1% | ||
| Q3 25 | 0.4% | 4.2% | ||
| Q2 25 | -6.3% | 6.2% | ||
| Q1 25 | 12.2% | -4.1% | ||
| Q4 24 | -3.0% | 2.1% | ||
| Q3 24 | -27.2% | 3.0% | ||
| Q2 24 | -8.6% | 6.9% |
每股收益（稀释后）PATHRYAN
| Q1 26 | — | $0.13 | ||
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $-0.04 | — | ||
| Q1 25 | $0.09 | — | ||
| Q4 24 | $-0.02 | — | ||
| Q3 24 | $-0.15 | — | ||
| Q2 24 | $-0.05 | — |
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 | $1.4B | $154.7M |
| 总债务越低越好 | — | $3.5B |
| 股东权益账面价值 | $1.9B | $1.2B |
| 总资产 | $2.9B | $11.0B |
| 负债/权益比越低杠杆越低 | — | 2.90× |
8季度趋势，按日历期对齐
现金及短期投资PATHRYAN
| Q1 26 | — | $154.7M | ||
| Q4 25 | $1.4B | $158.3M | ||
| Q3 25 | $1.4B | $153.5M | ||
| Q2 25 | $1.6B | $172.6M | ||
| Q1 25 | $1.6B | $203.5M | ||
| Q4 24 | $1.6B | $540.2M | ||
| Q3 24 | $1.7B | $235.2M | ||
| Q2 24 | $1.9B | $1.7B |
总债务PATHRYAN
| Q1 26 | — | $3.5B | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益PATHRYAN
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.9B | $648.1M | ||
| Q3 25 | $1.7B | $630.5M | ||
| Q2 25 | $1.7B | $610.1M | ||
| Q1 25 | $1.8B | $542.5M | ||
| Q4 24 | $1.7B | $627.7M | ||
| Q3 24 | $1.8B | $632.8M | ||
| Q2 24 | $2.0B | $605.9M |
总资产PATHRYAN
| Q1 26 | — | $11.0B | ||
| Q4 25 | $2.9B | $10.6B | ||
| Q3 25 | $2.6B | $9.9B | ||
| Q2 25 | $2.6B | $10.6B | ||
| Q1 25 | $2.9B | $9.9B | ||
| Q4 24 | $2.7B | $9.6B | ||
| Q3 24 | $2.7B | $8.5B | ||
| Q2 24 | $2.8B | $8.3B |
负债/权益比PATHRYAN
| Q1 26 | — | 2.90× | ||
| Q4 25 | — | 5.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.22× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $28.3M | — |
| 自由现金流经营现金流 - 资本支出 | $25.1M | — |
| 自由现金流率自由现金流/营收 | 6.1% | — |
| 资本支出强度资本支出/营收 | 0.8% | 1.7% |
| 现金转化率经营现金流/净利润 | 0.14× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PATHRYAN
| Q1 26 | — | — | ||
| Q4 25 | $28.3M | $263.2M | ||
| Q3 25 | $41.6M | $169.7M | ||
| Q2 25 | $119.0M | $353.6M | ||
| Q1 25 | $146.1M | $-142.8M | ||
| Q4 24 | $28.1M | $259.6M | ||
| Q3 24 | $46.4M | $100.9M | ||
| Q2 24 | $100.0M | $270.8M |
自由现金流PATHRYAN
| Q1 26 | — | — | ||
| Q4 25 | $25.1M | — | ||
| Q3 25 | — | $167.3M | ||
| Q2 25 | $106.2M | — | ||
| Q1 25 | $138.7M | $-143.5M | ||
| Q4 24 | $23.2M | — | ||
| Q3 24 | $45.0M | — | ||
| Q2 24 | $98.8M | — |
自由现金流率PATHRYAN
| Q1 26 | — | — | ||
| Q4 25 | 6.1% | — | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | 32.7% | -21.2% | ||
| Q4 24 | 6.5% | — | ||
| Q3 24 | 14.2% | — | ||
| Q2 24 | 29.5% | — |
资本支出强度PATHRYAN
| Q1 26 | — | 1.7% | ||
| Q4 25 | 0.8% | 0.0% | ||
| Q3 25 | 0.0% | 0.3% | ||
| Q2 25 | 3.6% | 0.0% | ||
| Q1 25 | 1.7% | 0.1% | ||
| Q4 24 | 1.4% | 0.0% | ||
| Q3 24 | 0.4% | 0.0% | ||
| Q2 24 | 0.4% | 0.0% |
现金转化率PATHRYAN
| Q1 26 | — | — | ||
| Q4 25 | 0.14× | 32.99× | ||
| Q3 25 | 26.25× | 5.46× | ||
| Q2 25 | — | 6.80× | ||
| Q1 25 | 2.82× | — | ||
| Q4 24 | — | 18.88× | ||
| Q3 24 | — | 5.74× | ||
| Q2 24 | — | 5.79× |
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
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
RYAN
| Compensation and benefits | $495.2M | 62% |
| Other | $260.4M | 33% |
| Change in contingent consideration | $27.3M | 3% |
| Fiduciary investment income | $12.3M | 2% |
