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Paycom（PAYC）与Rithm Capital Corp.（RITM）财务数据对比。点击上方公司名可切换其他公司
Rithm Capital Corp.的季度营收约是Paycom的1.5倍（$828.2M vs $544.3M），Paycom净利率更高（20.9% vs 13.2%，领先7.7%），Rithm Capital Corp.同比增速更快（508.5% vs 10.2%），过去两年Paycom的营收复合增速更高（4.3% vs -17.9%）
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。
Rithm Capital Corp.是总部位于美国纽约的投资管理机构，核心业务聚焦房地产投资与另类资产投资，依托专业的投研团队和成熟的市场运营经验，为合作伙伴及投资者提供优质的资产配置解决方案与长期收益回报。
PAYC vs RITM — 直观对比
营收规模更大
RITM
是对方的1.5倍
$544.3M
营收增速更快
RITM
高出498.3%
10.2%
净利率更高
PAYC
高出7.7%
13.2%
两年增速更快
PAYC
近两年复合增速
-17.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $544.3M | $828.2M |
| 净利润 | $113.8M | $109.5M |
| 毛利率 | 83.9% | — |
| 营业利润率 | 28.9% | 29.9% |
| 净利率 | 20.9% | 13.2% |
| 营收同比 | 10.2% | 508.5% |
| 净利润同比 | 0.2% | 27.7% |
| 每股收益（稀释后） | $2.06 | $0.12 |
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PAYCRITM
| Q1 26 | — | $828.2M | ||
| Q4 25 | $544.3M | $1.5B | ||
| Q3 25 | $493.3M | $1.1B | ||
| Q2 25 | $483.6M | $1.2B | ||
| Q1 25 | $530.5M | $768.4M | ||
| Q4 24 | $493.9M | $2.1B | ||
| Q3 24 | $451.9M | $619.5M | ||
| Q2 24 | $437.5M | $1.2B |
净利润PAYCRITM
| Q1 26 | — | $109.5M | ||
| Q4 25 | $113.8M | $85.0M | ||
| Q3 25 | $110.7M | $221.5M | ||
| Q2 25 | $89.5M | $311.7M | ||
| Q1 25 | $139.4M | $78.8M | ||
| Q4 24 | $113.6M | $290.2M | ||
| Q3 24 | $73.3M | $121.7M | ||
| Q2 24 | $68.0M | $235.6M |
毛利率PAYCRITM
| Q1 26 | — | — | ||
| Q4 25 | 83.9% | — | ||
| Q3 25 | 82.7% | — | ||
| Q2 25 | 81.9% | — | ||
| Q1 25 | 84.1% | — | ||
| Q4 24 | 83.1% | — | ||
| Q3 24 | 80.5% | — | ||
| Q2 24 | 80.8% | — |
营业利润率PAYCRITM
| Q1 26 | — | 29.9% | ||
| Q4 25 | 28.9% | 13.8% | ||
| Q3 25 | 22.8% | 21.4% | ||
| Q2 25 | 23.2% | 25.2% | ||
| Q1 25 | 34.9% | 7.4% | ||
| Q4 24 | 30.1% | 23.8% | ||
| Q3 24 | 23.2% | 7.3% | ||
| Q2 24 | 21.7% | 23.6% |
净利率PAYCRITM
| Q1 26 | — | 13.2% | ||
| Q4 25 | 20.9% | 5.7% | ||
| Q3 25 | 22.4% | 20.0% | ||
| Q2 25 | 18.5% | 25.6% | ||
| Q1 25 | 26.3% | 10.3% | ||
| Q4 24 | 23.0% | 14.0% | ||
| Q3 24 | 16.2% | 19.7% | ||
| Q2 24 | 15.5% | 19.2% |
每股收益（稀释后）PAYCRITM
| Q1 26 | — | $0.12 | ||
| Q4 25 | $2.06 | $0.09 | ||
| Q3 25 | $1.96 | $0.35 | ||
| Q2 25 | $1.58 | $0.53 | ||
| Q1 25 | $2.48 | $0.07 | ||
| Q4 24 | $2.04 | $0.50 | ||
| Q3 24 | $1.31 | $0.20 | ||
| Q2 24 | $1.20 | $0.43 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.7B | $9.1B |
| 总资产 | $7.6B | $53.4B |
| 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PAYCRITM
| Q1 26 | — | — | ||
| Q4 25 | $370.0M | $1.8B | ||
| Q3 25 | $375.0M | $1.6B | ||
| Q2 25 | $532.2M | $1.6B | ||
| Q1 25 | $520.8M | $1.5B | ||
| Q4 24 | $402.0M | $1.5B | ||
| Q3 24 | $325.8M | $1.6B | ||
| Q2 24 | $346.5M | $1.2B |
总债务PAYCRITM
| Q1 26 | — | — | ||
| Q4 25 | — | $35.4B | ||
| Q3 25 | — | $32.2B | ||
| Q2 25 | — | $31.2B | ||
| Q1 25 | — | $32.2B | ||
| Q4 24 | — | $32.6B | ||
| Q3 24 | — | $29.6B | ||
| Q2 24 | — | $30.1B |
股东权益PAYCRITM
| Q1 26 | — | $9.1B | ||
| Q4 25 | $1.7B | $8.4B | ||
| Q3 25 | $1.7B | $8.5B | ||
| Q2 25 | $1.8B | $7.9B | ||
| Q1 25 | $1.7B | $7.8B | ||
| Q4 24 | $1.6B | $7.8B | ||
| Q3 24 | $1.5B | $7.7B | ||
| Q2 24 | $1.4B | $7.3B |
总资产PAYCRITM
| Q1 26 | — | $53.4B | ||
| Q4 25 | $7.6B | $53.1B | ||
| Q3 25 | $4.2B | $47.2B | ||
| Q2 25 | $4.0B | $44.3B | ||
| Q1 25 | $4.6B | $45.3B | ||
| Q4 24 | $5.9B | $46.0B | ||
| Q3 24 | $3.5B | $42.3B | ||
| Q2 24 | $4.3B | $42.0B |
负债/权益比PAYCRITM
| Q1 26 | — | — | ||
| Q4 25 | — | 4.20× | ||
| Q3 25 | — | 3.79× | ||
| Q2 25 | — | 3.92× | ||
| Q1 25 | — | 4.14× | ||
| Q4 24 | — | 4.18× | ||
| Q3 24 | — | 3.87× | ||
| Q2 24 | — | 4.10× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $122.6M | — |
| 自由现金流率自由现金流/营收 | 22.5% | — |
| 资本支出强度资本支出/营收 | 13.5% | — |
| 现金转化率经营现金流/净利润 | 1.72× | — |
| 过去12个月自由现金流最近4个季度 | $408.0M | — |
8季度趋势，按日历期对齐
经营现金流PAYCRITM
| Q1 26 | — | — | ||
| Q4 25 | $196.1M | $-114.6M | ||
| Q3 25 | $177.8M | $-2.0B | ||
| Q2 25 | $122.5M | $-557.1M | ||
| Q1 25 | $182.5M | $1.4B | ||
| Q4 24 | $160.4M | $-1.8B | ||
| Q3 24 | $92.8M | $768.1M | ||
| Q2 24 | $132.1M | $-55.7M |
自由现金流PAYCRITM
| Q1 26 | — | — | ||
| Q4 25 | $122.6M | — | ||
| Q3 25 | $79.8M | — | ||
| Q2 25 | $60.8M | — | ||
| Q1 25 | $144.8M | — | ||
| Q4 24 | $109.0M | — | ||
| Q3 24 | $44.6M | — | ||
| Q2 24 | $86.5M | — |
自由现金流率PAYCRITM
| Q1 26 | — | — | ||
| Q4 25 | 22.5% | — | ||
| Q3 25 | 16.2% | — | ||
| Q2 25 | 12.6% | — | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 22.1% | — | ||
| Q3 24 | 9.9% | — | ||
| Q2 24 | 19.8% | — |
资本支出强度PAYCRITM
| Q1 26 | — | — | ||
| Q4 25 | 13.5% | — | ||
| Q3 25 | 19.9% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 10.7% | — | ||
| Q2 24 | 10.4% | — |
现金转化率PAYCRITM
| Q1 26 | — | — | ||
| Q4 25 | 1.72× | -1.35× | ||
| Q3 25 | 1.61× | -9.22× | ||
| Q2 25 | 1.37× | -1.79× | ||
| Q1 25 | 1.31× | 18.03× | ||
| Q4 24 | 1.41× | -6.04× | ||
| Q3 24 | 1.27× | 6.31× | ||
| Q2 24 | 1.94× | -0.24× |
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% |
RITM
| Servicing revenue, net | $375.1M | 45% |
| Other | $234.9M | 28% |
| Gain on originated residential mortgage loans, held-for-sale, net | $195.0M | 24% |
| Other revenue | $23.3M | 3% |
