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UiPath, Inc.（PATH）与Zscaler, Inc.（ZS）财务数据对比。点击上方公司名可切换其他公司
Zscaler, Inc.的季度营收约是UiPath, Inc.的1.9倍（$788.1M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs -1.5%，领先49.8%），Zscaler, Inc.同比增速更快（25.5% vs 15.9%），Zscaler, Inc.自由现金流更多（$431.0M vs $25.1M），过去两年Zscaler, Inc.的营收复合增速更高（22.5% 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。
Zscaler是总部位于美国加利福尼亚州圣何塞的云安全企业，专注提供云原生安全服务，为全球各行业企业的网络系统与数据资产提供全方位防护，助力企业在数字化运营过程中抵御各类安全风险，保障业务稳定开展。
PATH vs ZS — 直观对比
营收规模更大
ZS
是对方的1.9倍
$411.1M
营收增速更快
ZS
高出9.6%
15.9%
净利率更高
PATH
高出49.8%
-1.5%
自由现金流更多
ZS
多$405.9M
$25.1M
两年增速更快
ZS
近两年复合增速
0.7%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $411.1M | $788.1M |
| 净利润 | $198.8M | $-11.6M |
| 毛利率 | 83.3% | 76.6% |
| 营业利润率 | 3.2% | -4.6% |
| 净利率 | 48.4% | -1.5% |
| 营收同比 | 15.9% | 25.5% |
| 净利润同比 | 1966.2% | 3.6% |
| 每股收益（稀释后） | $0.37 | $-0.07 |
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PATHZS
| Q4 25 | $411.1M | $788.1M | ||
| Q3 25 | $361.7M | $719.2M | ||
| Q2 25 | $356.6M | $678.0M | ||
| Q1 25 | $423.6M | $647.9M | ||
| Q4 24 | $354.7M | $628.0M | ||
| Q3 24 | $316.3M | $592.9M | ||
| Q2 24 | $335.1M | $553.2M | ||
| Q1 24 | $405.3M | $525.0M |
净利润PATHZS
| Q4 25 | $198.8M | $-11.6M | ||
| Q3 25 | $1.6M | $-17.6M | ||
| Q2 25 | $-22.6M | $-4.1M | ||
| Q1 25 | $51.8M | $-7.7M | ||
| Q4 24 | $-10.7M | $-12.1M | ||
| Q3 24 | $-86.1M | $-14.9M | ||
| Q2 24 | $-28.7M | $19.1M | ||
| Q1 24 | $33.9M | $-28.5M |
毛利率PATHZS
| Q4 25 | 83.3% | 76.6% | ||
| Q3 25 | 82.2% | 76.1% | ||
| Q2 25 | 82.1% | 77.0% | ||
| Q1 25 | 84.8% | 77.1% | ||
| Q4 24 | 82.0% | 77.5% | ||
| Q3 24 | 80.0% | 78.0% | ||
| Q2 24 | 83.5% | 78.6% | ||
| Q1 24 | 86.8% | 77.7% |
营业利润率PATHZS
| Q4 25 | 3.2% | -4.6% | ||
| Q3 25 | -5.6% | -4.5% | ||
| Q2 25 | -4.6% | -3.7% | ||
| Q1 25 | 7.9% | -6.2% | ||
| Q4 24 | -12.2% | -4.9% | ||
| Q3 24 | -32.7% | -4.5% | ||
| Q2 24 | -14.8% | -0.5% | ||
| Q1 24 | 3.7% | -8.7% |
净利率PATHZS
| Q4 25 | 48.4% | -1.5% | ||
| Q3 25 | 0.4% | -2.4% | ||
| Q2 25 | -6.3% | -0.6% | ||
| Q1 25 | 12.2% | -1.2% | ||
| Q4 24 | -3.0% | -1.9% | ||
| Q3 24 | -27.2% | -2.5% | ||
| Q2 24 | -8.6% | 3.5% | ||
| Q1 24 | 8.4% | -5.4% |
每股收益（稀释后）PATHZS
| Q4 25 | $0.37 | $-0.07 | ||
| Q3 25 | $0.00 | $-0.11 | ||
| Q2 25 | $-0.04 | $-0.03 | ||
| Q1 25 | $0.09 | $-0.05 | ||
| Q4 24 | $-0.02 | $-0.08 | ||
| Q3 24 | $-0.15 | $-0.09 | ||
| Q2 24 | $-0.05 | $0.12 | ||
| Q1 24 | $0.07 | $-0.19 |
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 | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.9B | $2.0B |
| 总资产 | $2.9B | $6.5B |
| 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PATHZS
| Q4 25 | $1.4B | $1.3B | ||
| Q3 25 | $1.4B | $2.4B | ||
| Q2 25 | $1.6B | $2.0B | ||
| Q1 25 | $1.6B | $1.8B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.7B | $1.4B | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $1.9B | $1.4B |
总债务PATHZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
股东权益PATHZS
| Q4 25 | $1.9B | $2.0B | ||
| Q3 25 | $1.7B | $1.8B | ||
| Q2 25 | $1.7B | $1.8B | ||
| Q1 25 | $1.8B | $1.6B | ||
| Q4 24 | $1.7B | $1.4B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $2.0B | $1.1B | ||
| Q1 24 | $2.0B | $958.9M |
总资产PATHZS
| Q4 25 | $2.9B | $6.5B | ||
| Q3 25 | $2.6B | $6.4B | ||
| Q2 25 | $2.6B | $5.3B | ||
| Q1 25 | $2.9B | $5.0B | ||
| Q4 24 | $2.7B | $4.7B | ||
| Q3 24 | $2.7B | $4.7B | ||
| Q2 24 | $2.8B | $4.2B | ||
| Q1 24 | $3.0B | $3.9B |
负债/权益比PATHZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 1.19× |
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 | $448.3M |
| 自由现金流经营现金流 - 资本支出 | $25.1M | $431.0M |
| 自由现金流率自由现金流/营收 | 6.1% | 54.7% |
| 资本支出强度资本支出/营收 | 0.8% | 2.2% |
| 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 | — | $924.9M |
8季度趋势，按日历期对齐
经营现金流PATHZS
| Q4 25 | $28.3M | $448.3M | ||
| Q3 25 | $41.6M | $250.6M | ||
| Q2 25 | $119.0M | $211.1M | ||
| Q1 25 | $146.1M | $179.4M | ||
| Q4 24 | $28.1M | $331.3M | ||
| Q3 24 | $46.4M | $203.6M | ||
| Q2 24 | $100.0M | $173.4M | ||
| Q1 24 | $145.6M | $142.1M |
自由现金流PATHZS
| Q4 25 | $25.1M | $431.0M | ||
| Q3 25 | — | $190.6M | ||
| Q2 25 | $106.2M | $138.9M | ||
| Q1 25 | $138.7M | $164.4M | ||
| Q4 24 | $23.2M | $314.3M | ||
| Q3 24 | $45.0M | $154.2M | ||
| Q2 24 | $98.8M | $137.8M | ||
| Q1 24 | $141.8M | $111.2M |
自由现金流率PATHZS
| Q4 25 | 6.1% | 54.7% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | 29.8% | 20.5% | ||
| Q1 25 | 32.7% | 25.4% | ||
| Q4 24 | 6.5% | 50.1% | ||
| Q3 24 | 14.2% | 26.0% | ||
| Q2 24 | 29.5% | 24.9% | ||
| Q1 24 | 35.0% | 21.2% |
资本支出强度PATHZS
| Q4 25 | 0.8% | 2.2% | ||
| Q3 25 | 0.0% | 8.3% | ||
| Q2 25 | 3.6% | 10.6% | ||
| Q1 25 | 1.7% | 2.3% | ||
| Q4 24 | 1.4% | 2.7% | ||
| Q3 24 | 0.4% | 8.3% | ||
| Q2 24 | 0.4% | 6.4% | ||
| Q1 24 | 0.9% | 5.9% |
现金转化率PATHZS
| Q4 25 | 0.14× | — | ||
| Q3 25 | 26.25× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.82× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 9.07× | ||
| 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% |
ZS
暂无分部数据
