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UiPath, Inc.（PATH）与SPIRE INC（SR）财务数据对比。点击上方公司名可切换其他公司
SPIRE INC的季度营收约是UiPath, Inc.的1.9倍（$762.2M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 12.5%，领先35.9%），UiPath, Inc.同比增速更快（15.9% vs 13.9%），UiPath, Inc.自由现金流更多（$25.1M vs $-121.8M），过去两年UiPath, Inc.的营收复合增速更高（0.7% vs -17.8%）
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。
Spire Inc是总部位于美国密苏里州圣路易斯的区域公用事业控股公司，核心业务为受监管的天然气供应服务，同时布局非监管类业务拓展商业机会。旗下主要子公司Laclede Gas Company是密苏里州最大的天然气分销公用事业企业，为圣路易斯市及密苏里州东部10个县的约63.1万户住宅、商业及工业客户提供服务。
PATH vs SR — 直观对比
营收规模更大
SR
是对方的1.9倍
$411.1M
营收增速更快
PATH
高出2.0%
13.9%
净利率更高
PATH
高出35.9%
12.5%
自由现金流更多
PATH
多$146.9M
$-121.8M
两年增速更快
PATH
近两年复合增速
-17.8%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $411.1M | $762.2M |
| 净利润 | $198.8M | $95.0M |
| 毛利率 | 83.3% | 55.1% |
| 营业利润率 | 3.2% | 22.8% |
| 净利率 | 48.4% | 12.5% |
| 营收同比 | 15.9% | 13.9% |
| 净利润同比 | 1966.2% | 16.9% |
| 每股收益（稀释后） | $0.37 | $1.54 |
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PATHSR
| Q4 25 | $411.1M | $762.2M | ||
| Q3 25 | $361.7M | $334.1M | ||
| Q2 25 | $356.6M | $421.9M | ||
| Q1 25 | $423.6M | $1.1B | ||
| Q4 24 | $354.7M | $669.1M | ||
| Q3 24 | $316.3M | $293.8M | ||
| Q2 24 | $335.1M | $414.1M | ||
| Q1 24 | $405.3M | $1.1B |
净利润PATHSR
| Q4 25 | $198.8M | $95.0M | ||
| Q3 25 | $1.6M | $-39.8M | ||
| Q2 25 | $-22.6M | $20.9M | ||
| Q1 25 | $51.8M | $209.3M | ||
| Q4 24 | $-10.7M | $81.3M | ||
| Q3 24 | $-86.1M | $-25.9M | ||
| Q2 24 | $-28.7M | $-12.6M | ||
| Q1 24 | $33.9M | $204.3M |
毛利率PATHSR
| Q4 25 | 83.3% | 55.1% | ||
| Q3 25 | 82.2% | — | ||
| Q2 25 | 82.1% | — | ||
| Q1 25 | 84.8% | — | ||
| Q4 24 | 82.0% | 55.6% | ||
| Q3 24 | 80.0% | — | ||
| Q2 24 | 83.5% | — | ||
| Q1 24 | 86.8% | — |
营业利润率PATHSR
| Q4 25 | 3.2% | 22.8% | ||
| Q3 25 | -5.6% | -0.1% | ||
| Q2 25 | -4.6% | 16.4% | ||
| Q1 25 | 7.9% | 29.1% | ||
| Q4 24 | -12.2% | 22.2% | ||
| Q3 24 | -32.7% | 6.7% | ||
| Q2 24 | -14.8% | 7.4% | ||
| Q1 24 | 3.7% | 26.5% |
净利率PATHSR
| Q4 25 | 48.4% | 12.5% | ||
| Q3 25 | 0.4% | -11.9% | ||
| Q2 25 | -6.3% | 5.0% | ||
| Q1 25 | 12.2% | 19.9% | ||
| Q4 24 | -3.0% | 12.2% | ||
| Q3 24 | -27.2% | -8.8% | ||
| Q2 24 | -8.6% | -3.0% | ||
| Q1 24 | 8.4% | 18.1% |
每股收益（稀释后）PATHSR
| Q4 25 | $0.37 | $1.54 | ||
| Q3 25 | $0.00 | $-0.77 | ||
| Q2 25 | $-0.04 | $0.29 | ||
| Q1 25 | $0.09 | $3.51 | ||
| Q4 24 | $-0.02 | $1.34 | ||
| Q3 24 | $-0.15 | $-0.63 | ||
| Q2 24 | $-0.05 | $-0.28 | ||
| Q1 24 | $0.07 | $3.58 |
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 | $4.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.9B | $3.4B |
| 总资产 | $2.9B | $11.9B |
| 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PATHSR
| Q4 25 | $1.4B | $4.1M | ||
| Q3 25 | $1.4B | $5.7M | ||
| Q2 25 | $1.6B | $13.1M | ||
| Q1 25 | $1.6B | $15.2M | ||
| Q4 24 | $1.6B | $11.5M | ||
| Q3 24 | $1.7B | $4.5M | ||
| Q2 24 | $1.9B | $7.4M | ||
| Q1 24 | $1.9B | $25.6M |
股东权益PATHSR
| Q4 25 | $1.9B | $3.4B | ||
| Q3 25 | $1.7B | $3.4B | ||
| Q2 25 | $1.7B | $3.5B | ||
| Q1 25 | $1.8B | $3.5B | ||
| Q4 24 | $1.7B | $3.3B | ||
| Q3 24 | $1.8B | $3.2B | ||
| Q2 24 | $2.0B | $3.3B | ||
| Q1 24 | $2.0B | $3.4B |
总资产PATHSR
| Q4 25 | $2.9B | $11.9B | ||
| Q3 25 | $2.6B | $11.6B | ||
| Q2 25 | $2.6B | $11.4B | ||
| Q1 25 | $2.9B | $11.3B | ||
| Q4 24 | $2.7B | $11.3B | ||
| Q3 24 | $2.7B | $10.9B | ||
| Q2 24 | $2.8B | $10.7B | ||
| Q1 24 | $3.0B | $10.7B |
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 | $81.0M |
| 自由现金流经营现金流 - 资本支出 | $25.1M | $-121.8M |
| 自由现金流率自由现金流/营收 | 6.1% | -16.0% |
| 资本支出强度资本支出/营收 | 0.8% | 26.6% |
| 现金转化率经营现金流/净利润 | 0.14× | 0.85× |
| 过去12个月自由现金流最近4个季度 | — | $-286.7M |
8季度趋势，按日历期对齐
经营现金流PATHSR
| Q4 25 | $28.3M | $81.0M | ||
| Q3 25 | $41.6M | $-4.9M | ||
| Q2 25 | $119.0M | $129.1M | ||
| Q1 25 | $146.1M | $372.7M | ||
| Q4 24 | $28.1M | $81.1M | ||
| Q3 24 | $46.4M | $82.9M | ||
| Q2 24 | $100.0M | $270.1M | ||
| Q1 24 | $145.6M | $489.4M |
自由现金流PATHSR
| Q4 25 | $25.1M | $-121.8M | ||
| Q3 25 | — | $-227.6M | ||
| Q2 25 | $106.2M | $-91.4M | ||
| Q1 25 | $138.7M | $154.1M | ||
| Q4 24 | $23.2M | $-179.5M | ||
| Q3 24 | $45.0M | $-146.9M | ||
| Q2 24 | $98.8M | $47.9M | ||
| Q1 24 | $141.8M | $306.6M |
自由现金流率PATHSR
| Q4 25 | 6.1% | -16.0% | ||
| Q3 25 | — | -68.1% | ||
| Q2 25 | 29.8% | -21.7% | ||
| Q1 25 | 32.7% | 14.7% | ||
| Q4 24 | 6.5% | -26.8% | ||
| Q3 24 | 14.2% | -50.0% | ||
| Q2 24 | 29.5% | 11.6% | ||
| Q1 24 | 35.0% | 27.2% |
资本支出强度PATHSR
| Q4 25 | 0.8% | 26.6% | ||
| Q3 25 | 0.0% | 66.7% | ||
| Q2 25 | 3.6% | 52.3% | ||
| Q1 25 | 1.7% | 20.8% | ||
| Q4 24 | 1.4% | 38.9% | ||
| Q3 24 | 0.4% | 78.2% | ||
| Q2 24 | 0.4% | 53.7% | ||
| Q1 24 | 0.9% | 16.2% |
现金转化率PATHSR
| Q4 25 | 0.14× | 0.85× | ||
| Q3 25 | 26.25× | — | ||
| Q2 25 | — | 6.18× | ||
| Q1 25 | 2.82× | 1.78× | ||
| Q4 24 | — | 1.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.29× | 2.40× |
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% |
SR
| Residential | $474.9M | 62% |
| Commercial And Industrial | $148.4M | 19% |
| Gas Marketing | $41.1M | 5% |
| Midstream | $39.0M | 5% |
| Transportation | $37.1M | 5% |
| Offsystem And Other Inventive | $19.7M | 3% |
| Other Customer Revenue | $4.6M | 1% |
