vs
Paycom（PAYC）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
越洋钻探的季度营收约是Paycom的1.9倍（$1.0B vs $544.3M），Paycom净利率更高（20.9% vs 2.4%，领先18.5%），Paycom同比增速更快（10.2% vs 9.6%），越洋钻探自由现金流更多（$321.0M vs $122.6M），过去两年越洋钻探的营收复合增速更高（16.9% vs 4.3%）
Paycom Software Inc.（简称Paycom）是1998年成立的线上薪资与人力资源软件服务商，总部位于美国俄克拉荷马城，在全美多地设有办事处，是全球最早推出全线上薪资管理服务的供应商之一，2025年营收达20.52亿美元，较2024年的18.83亿美元稳步增长。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
PAYC vs RIG — 直观对比
营收规模更大
RIG
是对方的1.9倍
$544.3M
营收增速更快
PAYC
高出0.7%
9.6%
净利率更高
PAYC
高出18.5%
2.4%
自由现金流更多
RIG
多$198.4M
$122.6M
两年增速更快
RIG
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $544.3M | $1.0B |
| 净利润 | $113.8M | $25.0M |
| 毛利率 | 83.9% | 42.0% |
| 营业利润率 | 28.9% | 23.0% |
| 净利率 | 20.9% | 2.4% |
| 营收同比 | 10.2% | 9.6% |
| 净利润同比 | 0.2% | 257.1% |
| 每股收益（稀释后） | $2.06 | $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PAYCRIG
| Q4 25 | $544.3M | $1.0B | ||
| Q3 25 | $493.3M | $1.0B | ||
| Q2 25 | $483.6M | $988.0M | ||
| Q1 25 | $530.5M | $906.0M | ||
| Q4 24 | $493.9M | $952.0M | ||
| Q3 24 | $451.9M | $948.0M | ||
| Q2 24 | $437.5M | $861.0M | ||
| Q1 24 | $499.9M | $763.0M |
净利润PAYCRIG
| Q4 25 | $113.8M | $25.0M | ||
| Q3 25 | $110.7M | $-1.9B | ||
| Q2 25 | $89.5M | $-938.0M | ||
| Q1 25 | $139.4M | $-79.0M | ||
| Q4 24 | $113.6M | $7.0M | ||
| Q3 24 | $73.3M | $-494.0M | ||
| Q2 24 | $68.0M | $-123.0M | ||
| Q1 24 | $247.2M | $98.0M |
毛利率PAYCRIG
| Q4 25 | 83.9% | 42.0% | ||
| Q3 25 | 82.7% | 43.2% | ||
| Q2 25 | 81.9% | 39.4% | ||
| Q1 25 | 84.1% | 31.8% | ||
| Q4 24 | 83.1% | 39.2% | ||
| Q3 24 | 80.5% | 40.6% | ||
| Q2 24 | 80.8% | 38.0% | ||
| Q1 24 | 84.3% | 31.5% |
营业利润率PAYCRIG
| Q4 25 | 28.9% | 23.0% | ||
| Q3 25 | 22.8% | -163.1% | ||
| Q2 25 | 23.2% | -97.6% | ||
| Q1 25 | 34.9% | 7.1% | ||
| Q4 24 | 30.1% | 13.7% | ||
| Q3 24 | 23.2% | -51.2% | ||
| Q2 24 | 21.7% | -6.9% | ||
| Q1 24 | 57.2% | -0.4% |
净利率PAYCRIG
| Q4 25 | 20.9% | 2.4% | ||
| Q3 25 | 22.4% | -187.1% | ||
| Q2 25 | 18.5% | -94.9% | ||
| Q1 25 | 26.3% | -8.7% | ||
| Q4 24 | 23.0% | 0.7% | ||
| Q3 24 | 16.2% | -52.1% | ||
| Q2 24 | 15.5% | -14.3% | ||
| Q1 24 | 49.4% | 12.8% |
每股收益（稀释后）PAYCRIG
| Q4 25 | $2.06 | $0.13 | ||
| Q3 25 | $1.96 | $-2.00 | ||
| Q2 25 | $1.58 | $-1.06 | ||
| Q1 25 | $2.48 | $-0.11 | ||
| Q4 24 | $2.04 | $-0.14 | ||
| Q3 24 | $1.31 | $-0.58 | ||
| Q2 24 | $1.20 | $-0.15 | ||
| Q1 24 | $4.37 | $0.11 |
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 | $370.0M | $620.0M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $1.7B | $8.1B |
| 总资产 | $7.6B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资PAYCRIG
| Q4 25 | $370.0M | $620.0M | ||
| Q3 25 | $375.0M | $833.0M | ||
| Q2 25 | $532.2M | $377.0M | ||
| Q1 25 | $520.8M | $263.0M | ||
| Q4 24 | $402.0M | $560.0M | ||
| Q3 24 | $325.8M | $435.0M | ||
| Q2 24 | $346.5M | $475.0M | ||
| Q1 24 | $371.3M | $446.0M |
总债务PAYCRIG
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.8B |
股东权益PAYCRIG
| Q4 25 | $1.7B | $8.1B | ||
| Q3 25 | $1.7B | $8.1B | ||
| Q2 25 | $1.8B | $9.4B | ||
| Q1 25 | $1.7B | $10.2B | ||
| Q4 24 | $1.6B | $10.3B | ||
| Q3 24 | $1.5B | $10.2B | ||
| Q2 24 | $1.4B | $10.7B | ||
| Q1 24 | $1.4B | $10.5B |
总资产PAYCRIG
| Q4 25 | $7.6B | $15.6B | ||
| Q3 25 | $4.2B | $16.2B | ||
| Q2 25 | $4.0B | $17.8B | ||
| Q1 25 | $4.6B | $19.0B | ||
| Q4 24 | $5.9B | $19.4B | ||
| Q3 24 | $3.5B | $19.5B | ||
| Q2 24 | $4.3B | $20.3B | ||
| Q1 24 | $4.7B | $19.9B |
负债/权益比PAYCRIG
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.65× |
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 | $196.1M | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $122.6M | $321.0M |
| 自由现金流率自由现金流/营收 | 22.5% | 30.8% |
| 资本支出强度资本支出/营收 | 13.5% | 2.7% |
| 现金转化率经营现金流/净利润 | 1.72× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $408.0M | $626.0M |
8季度趋势，按日历期对齐
经营现金流PAYCRIG
| Q4 25 | $196.1M | $349.0M | ||
| Q3 25 | $177.8M | $246.0M | ||
| Q2 25 | $122.5M | $128.0M | ||
| Q1 25 | $182.5M | $26.0M | ||
| Q4 24 | $160.4M | $206.0M | ||
| Q3 24 | $92.8M | $194.0M | ||
| Q2 24 | $132.1M | $133.0M | ||
| Q1 24 | $148.6M | $-86.0M |
自由现金流PAYCRIG
| Q4 25 | $122.6M | $321.0M | ||
| Q3 25 | $79.8M | $235.0M | ||
| Q2 25 | $60.8M | $104.0M | ||
| Q1 25 | $144.8M | $-34.0M | ||
| Q4 24 | $109.0M | $177.0M | ||
| Q3 24 | $44.6M | $136.0M | ||
| Q2 24 | $86.5M | $49.0M | ||
| Q1 24 | $100.9M | $-169.0M |
自由现金流率PAYCRIG
| Q4 25 | 22.5% | 30.8% | ||
| Q3 25 | 16.2% | 22.9% | ||
| Q2 25 | 12.6% | 10.5% | ||
| Q1 25 | 27.3% | -3.8% | ||
| Q4 24 | 22.1% | 18.6% | ||
| Q3 24 | 9.9% | 14.3% | ||
| Q2 24 | 19.8% | 5.7% | ||
| Q1 24 | 20.2% | -22.1% |
资本支出强度PAYCRIG
| Q4 25 | 13.5% | 2.7% | ||
| Q3 25 | 19.9% | 1.1% | ||
| Q2 25 | 12.8% | 2.4% | ||
| Q1 25 | 7.1% | 6.6% | ||
| Q4 24 | 10.4% | 3.0% | ||
| Q3 24 | 10.7% | 6.1% | ||
| Q2 24 | 10.4% | 9.8% | ||
| Q1 24 | 9.5% | 10.9% |
现金转化率PAYCRIG
| Q4 25 | 1.72× | 13.96× | ||
| Q3 25 | 1.61× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 1.31× | — | ||
| Q4 24 | 1.41× | 29.43× | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.94× | — | ||
| Q1 24 | 0.60× | -0.88× |
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
PAYC
| Recurring | $510.3M | 94% |
| Interest On Funds Held For Clients | $27.2M | 5% |
| Implementation And Other | $6.8M | 1% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
