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UiPath, Inc.（PATH）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
UiPath, Inc.的季度营收约是INNOVATE Corp.的1.1倍（$411.1M vs $382.7M），UiPath, Inc.净利率更高（48.4% vs -1.9%，领先50.3%），INNOVATE Corp.同比增速更快（61.7% vs 15.9%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% 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。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
PATH vs VATE — 直观对比
营收规模更大
PATH
是对方的1.1倍
$382.7M
营收增速更快
VATE
高出45.8%
15.9%
净利率更高
PATH
高出50.3%
-1.9%
两年增速更快
VATE
近两年复合增速
0.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $411.1M | $382.7M |
| 净利润 | $198.8M | $-7.4M |
| 毛利率 | 83.3% | 15.4% |
| 营业利润率 | 3.2% | 3.7% |
| 净利率 | 48.4% | -1.9% |
| 营收同比 | 15.9% | 61.7% |
| 净利润同比 | 1966.2% | 55.4% |
| 每股收益（稀释后） | $0.37 | $-0.57 |
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PATHVATE
| Q4 25 | $411.1M | $382.7M | ||
| Q3 25 | $361.7M | $347.1M | ||
| Q2 25 | $356.6M | $242.0M | ||
| Q1 25 | $423.6M | $274.2M | ||
| Q4 24 | $354.7M | $236.6M | ||
| Q3 24 | $316.3M | $242.2M | ||
| Q2 24 | $335.1M | $313.1M | ||
| Q1 24 | $405.3M | $315.2M |
净利润PATHVATE
| Q4 25 | $198.8M | $-7.4M | ||
| Q3 25 | $1.6M | $-8.9M | ||
| Q2 25 | $-22.6M | $-19.8M | ||
| Q1 25 | $51.8M | $-24.5M | ||
| Q4 24 | $-10.7M | $-16.6M | ||
| Q3 24 | $-86.1M | $-15.0M | ||
| Q2 24 | $-28.7M | $14.4M | ||
| Q1 24 | $33.9M | $-17.4M |
毛利率PATHVATE
| Q4 25 | 83.3% | 15.4% | ||
| Q3 25 | 82.2% | 14.3% | ||
| Q2 25 | 82.1% | 18.8% | ||
| Q1 25 | 84.8% | 16.6% | ||
| Q4 24 | 82.0% | 19.6% | ||
| Q3 24 | 80.0% | 19.9% | ||
| Q2 24 | 83.5% | 21.0% | ||
| Q1 24 | 86.8% | 15.4% |
营业利润率PATHVATE
| Q4 25 | 3.2% | 3.7% | ||
| Q3 25 | -5.6% | 1.8% | ||
| Q2 25 | -4.6% | 2.0% | ||
| Q1 25 | 7.9% | 1.2% | ||
| Q4 24 | -12.2% | 1.1% | ||
| Q3 24 | -32.7% | 2.4% | ||
| Q2 24 | -14.8% | 9.2% | ||
| Q1 24 | 3.7% | 0.9% |
净利率PATHVATE
| Q4 25 | 48.4% | -1.9% | ||
| Q3 25 | 0.4% | -2.6% | ||
| Q2 25 | -6.3% | -8.2% | ||
| Q1 25 | 12.2% | -8.9% | ||
| Q4 24 | -3.0% | -7.0% | ||
| Q3 24 | -27.2% | -6.2% | ||
| Q2 24 | -8.6% | 4.6% | ||
| Q1 24 | 8.4% | -5.5% |
每股收益（稀释后）PATHVATE
| Q4 25 | $0.37 | $-0.57 | ||
| Q3 25 | $0.00 | $-0.71 | ||
| Q2 25 | $-0.04 | $-1.67 | ||
| Q1 25 | $0.09 | $-1.89 | ||
| Q4 24 | $-0.02 | $-0.72 | ||
| Q3 24 | $-0.15 | $-1.18 | ||
| Q2 24 | $-0.05 | $1.03 | ||
| Q1 24 | $0.07 | $-2.21 |
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 | $1.4B | $112.1M |
| 总债务越低越好 | — | $80.3M |
| 股东权益账面价值 | $1.9B | $-240.1M |
| 总资产 | $2.9B | $950.1M |
| 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PATHVATE
| Q4 25 | $1.4B | $112.1M | ||
| Q3 25 | $1.4B | $35.5M | ||
| Q2 25 | $1.6B | $33.4M | ||
| Q1 25 | $1.6B | $33.3M | ||
| Q4 24 | $1.6B | $48.8M | ||
| Q3 24 | $1.7B | $51.0M | ||
| Q2 24 | $1.9B | $80.2M | ||
| Q1 24 | $1.9B | $38.4M |
总债务PATHVATE
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
股东权益PATHVATE
| Q4 25 | $1.9B | $-240.1M | ||
| Q3 25 | $1.7B | $-233.3M | ||
| Q2 25 | $1.7B | $-224.8M | ||
| Q1 25 | $1.8B | $-204.2M | ||
| Q4 24 | $1.7B | $-180.4M | ||
| Q3 24 | $1.8B | $-163.1M | ||
| Q2 24 | $2.0B | $-149.0M | ||
| Q1 24 | $2.0B | $-184.4M |
总资产PATHVATE
| Q4 25 | $2.9B | $950.1M | ||
| Q3 25 | $2.6B | $913.2M | ||
| Q2 25 | $2.6B | $890.9M | ||
| Q1 25 | $2.9B | $868.0M | ||
| Q4 24 | $2.7B | $891.1M | ||
| Q3 24 | $2.7B | $897.2M | ||
| Q2 24 | $2.8B | $898.9M | ||
| Q1 24 | $3.0B | $943.5M |
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 | $101.1M |
| 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% | — |
| 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PATHVATE
| Q4 25 | $28.3M | $101.1M | ||
| Q3 25 | $41.6M | $19.2M | ||
| Q2 25 | $119.0M | $40.4M | ||
| Q1 25 | $146.1M | $-14.1M | ||
| Q4 24 | $28.1M | $41.4M | ||
| Q3 24 | $46.4M | $-28.4M | ||
| Q2 24 | $100.0M | $21.5M | ||
| Q1 24 | $145.6M | $-25.4M |
自由现金流PATHVATE
| Q4 25 | $25.1M | — | ||
| Q3 25 | — | $19.0M | ||
| Q2 25 | $106.2M | — | ||
| Q1 25 | $138.7M | $-18.8M | ||
| Q4 24 | $23.2M | $34.2M | ||
| Q3 24 | $45.0M | $-31.5M | ||
| Q2 24 | $98.8M | $18.4M | ||
| Q1 24 | $141.8M | $-31.0M |
自由现金流率PATHVATE
| Q4 25 | 6.1% | — | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | 32.7% | -6.9% | ||
| Q4 24 | 6.5% | 14.5% | ||
| Q3 24 | 14.2% | -13.0% | ||
| Q2 24 | 29.5% | 5.9% | ||
| Q1 24 | 35.0% | -9.8% |
资本支出强度PATHVATE
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 1.7% | 1.7% | ||
| Q4 24 | 1.4% | 3.0% | ||
| Q3 24 | 0.4% | 1.3% | ||
| Q2 24 | 0.4% | 1.0% | ||
| Q1 24 | 0.9% | 1.8% |
现金转化率PATHVATE
| Q4 25 | 0.14× | — | ||
| Q3 25 | 26.25× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.82× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.49× | ||
| Q1 24 | 4.29× | — |
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% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
