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UiPath, Inc.（PATH）与SBA Communications（SBAC）财务数据对比。点击上方公司名可切换其他公司
SBA Communications的季度营收约是UiPath, Inc.的1.7倍（$703.4M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 26.3%，领先22.1%），UiPath, Inc.同比增速更快（15.9% vs -1.6%），过去两年SBA Communications的营收复合增速更高（3.2% 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。
SBA Communications是一家房地产投资信托企业，核心业务为持有、运营无线通信基础设施，市场覆盖美国、加拿大、中南美洲及南非地区。公司由Steven Bernstein于1989年创立，前身为Steven Bernstein and Associates。
PATH vs SBAC — 直观对比
营收规模更大
SBAC
是对方的1.7倍
$411.1M
营收增速更快
PATH
高出17.5%
-1.6%
净利率更高
PATH
高出22.1%
26.3%
两年增速更快
SBAC
近两年复合增速
0.7%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $411.1M | $703.4M |
| 净利润 | $198.8M | $184.9M |
| 毛利率 | 83.3% | — |
| 营业利润率 | 3.2% | 48.7% |
| 净利率 | 48.4% | 26.3% |
| 营收同比 | 15.9% | -1.6% |
| 净利润同比 | 1966.2% | -15.1% |
| 每股收益（稀释后） | $0.37 | $1.74 |
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PATHSBAC
| Q1 26 | — | $703.4M | ||
| Q4 25 | $411.1M | $719.6M | ||
| Q3 25 | $361.7M | $732.3M | ||
| Q2 25 | $356.6M | $699.0M | ||
| Q1 25 | $423.6M | $664.2M | ||
| Q4 24 | $354.7M | $693.7M | ||
| Q3 24 | $316.3M | $667.6M | ||
| Q2 24 | $335.1M | $660.5M |
净利润PATHSBAC
| Q1 26 | — | $184.9M | ||
| Q4 25 | $198.8M | $370.4M | ||
| Q3 25 | $1.6M | $236.8M | ||
| Q2 25 | $-22.6M | $225.8M | ||
| Q1 25 | $51.8M | $220.7M | ||
| Q4 24 | $-10.7M | $178.8M | ||
| Q3 24 | $-86.1M | $258.5M | ||
| Q2 24 | $-28.7M | $162.8M |
毛利率PATHSBAC
| Q1 26 | — | — | ||
| Q4 25 | 83.3% | 75.6% | ||
| Q3 25 | 82.2% | 74.1% | ||
| Q2 25 | 82.1% | 75.4% | ||
| Q1 25 | 84.8% | 76.9% | ||
| Q4 24 | 82.0% | 78.1% | ||
| Q3 24 | 80.0% | 77.5% | ||
| Q2 24 | 83.5% | 78.6% |
营业利润率PATHSBAC
| Q1 26 | — | 48.7% | ||
| Q4 25 | 3.2% | 41.5% | ||
| Q3 25 | -5.6% | 51.1% | ||
| Q2 25 | -4.6% | 47.9% | ||
| Q1 25 | 7.9% | 50.4% | ||
| Q4 24 | -12.2% | 55.1% | ||
| Q3 24 | -32.7% | 56.3% | ||
| Q2 24 | -14.8% | 53.7% |
净利率PATHSBAC
| Q1 26 | — | 26.3% | ||
| Q4 25 | 48.4% | 51.5% | ||
| Q3 25 | 0.4% | 32.3% | ||
| Q2 25 | -6.3% | 32.3% | ||
| Q1 25 | 12.2% | 33.2% | ||
| Q4 24 | -3.0% | 25.8% | ||
| Q3 24 | -27.2% | 38.7% | ||
| Q2 24 | -8.6% | 24.7% |
每股收益（稀释后）PATHSBAC
| Q1 26 | — | $1.74 | ||
| Q4 25 | $0.37 | $3.47 | ||
| Q3 25 | $0.00 | $2.20 | ||
| Q2 25 | $-0.04 | $2.09 | ||
| Q1 25 | $0.09 | $2.04 | ||
| Q4 24 | $-0.02 | $1.61 | ||
| Q3 24 | $-0.15 | $2.40 | ||
| Q2 24 | $-0.05 | $1.51 |
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 | $269.1M |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $1.9B | — |
| 总资产 | $2.9B | $11.7B |
| 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PATHSBAC
| Q1 26 | — | $269.1M | ||
| Q4 25 | $1.4B | $271.2M | ||
| Q3 25 | $1.4B | $431.1M | ||
| Q2 25 | $1.6B | $276.8M | ||
| Q1 25 | $1.6B | $702.2M | ||
| Q4 24 | $1.6B | $444.4M | ||
| Q3 24 | $1.7B | $202.6M | ||
| Q2 24 | $1.9B | $250.9M |
总债务PATHSBAC
| Q1 26 | — | $2.7B | ||
| Q4 25 | — | $12.9B | ||
| Q3 25 | — | $12.7B | ||
| Q2 25 | — | $12.5B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | — | $13.6B | ||
| Q3 24 | — | $12.3B | ||
| Q2 24 | — | $12.3B |
股东权益PATHSBAC
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $-4.9B | ||
| Q3 25 | $1.7B | $-4.9B | ||
| Q2 25 | $1.7B | $-4.9B | ||
| Q1 25 | $1.8B | $-5.0B | ||
| Q4 24 | $1.7B | $-5.1B | ||
| Q3 24 | $1.8B | $-5.2B | ||
| Q2 24 | $2.0B | $-5.3B |
总资产PATHSBAC
| Q1 26 | — | $11.7B | ||
| Q4 25 | $2.9B | $11.6B | ||
| Q3 25 | $2.6B | $11.3B | ||
| Q2 25 | $2.6B | $10.8B | ||
| Q1 25 | $2.9B | $10.4B | ||
| Q4 24 | $2.7B | $11.4B | ||
| Q3 24 | $2.7B | $10.2B | ||
| Q2 24 | $2.8B | $9.8B |
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 | $255.1M |
| 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% | 9.5% |
| 现金转化率经营现金流/净利润 | 0.14× | 1.38× |
| 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PATHSBAC
| Q1 26 | — | $255.1M | ||
| Q4 25 | $28.3M | $1.3B | ||
| Q3 25 | $41.6M | $318.0M | ||
| Q2 25 | $119.0M | $368.1M | ||
| Q1 25 | $146.1M | $301.2M | ||
| Q4 24 | $28.1M | $1.3B | ||
| Q3 24 | $46.4M | $304.7M | ||
| Q2 24 | $100.0M | $425.6M |
自由现金流PATHSBAC
| Q1 26 | — | — | ||
| Q4 25 | $25.1M | $833.3M | ||
| Q3 25 | — | $258.0M | ||
| Q2 25 | $106.2M | $312.2M | ||
| Q1 25 | $138.7M | $255.0M | ||
| Q4 24 | $23.2M | $1.2B | ||
| Q3 24 | $45.0M | $239.9M | ||
| Q2 24 | $98.8M | $375.6M |
自由现金流率PATHSBAC
| Q1 26 | — | — | ||
| Q4 25 | 6.1% | 115.8% | ||
| Q3 25 | — | 35.2% | ||
| Q2 25 | 29.8% | 44.7% | ||
| Q1 25 | 32.7% | 38.4% | ||
| Q4 24 | 6.5% | 179.9% | ||
| Q3 24 | 14.2% | 35.9% | ||
| Q2 24 | 29.5% | 56.9% |
资本支出强度PATHSBAC
| Q1 26 | — | 9.5% | ||
| Q4 25 | 0.8% | 63.7% | ||
| Q3 25 | 0.0% | 8.2% | ||
| Q2 25 | 3.6% | 8.0% | ||
| Q1 25 | 1.7% | 7.0% | ||
| Q4 24 | 1.4% | 12.6% | ||
| Q3 24 | 0.4% | 9.7% | ||
| Q2 24 | 0.4% | 7.6% |
现金转化率PATHSBAC
| Q1 26 | — | 1.38× | ||
| Q4 25 | 0.14× | 3.49× | ||
| Q3 25 | 26.25× | 1.34× | ||
| Q2 25 | — | 1.63× | ||
| Q1 25 | 2.82× | 1.36× | ||
| Q4 24 | — | 7.47× | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 2.61× |
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% |
SBAC
| Site leasing | $656.1M | 93% |
| Site development | $47.3M | 7% |
