vs
Paycom（PAYC）与Rackspace Technology, Inc.（RXT）财务数据对比。点击上方公司名可切换其他公司
Rackspace Technology, Inc.的季度营收约是Paycom的1.3倍（$682.8M vs $544.3M），Paycom净利率更高（20.9% vs -4.8%，领先25.7%），Paycom同比增速更快（10.2% vs -0.4%），Paycom自由现金流更多（$122.6M vs $56.0M），过去两年Paycom的营收复合增速更高（4.3% vs -0.6%）
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。
Rackspace Technology, Inc.是总部位于美国得克萨斯州圣安东尼奥的云计算企业，在弗吉尼亚州雷斯顿以及澳大利亚、加拿大、英国、印度、迪拜、瑞士、荷兰、德国、新加坡、墨西哥、中国香港等多个国家和地区设有办事处，数据中心分布于全球多个主要城市，为客户提供专业的云计算相关服务。
PAYC vs RXT — 直观对比
营收规模更大
RXT
是对方的1.3倍
$544.3M
营收增速更快
PAYC
高出10.6%
-0.4%
净利率更高
PAYC
高出25.7%
-4.8%
自由现金流更多
PAYC
多$66.6M
$56.0M
两年增速更快
PAYC
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $544.3M | $682.8M |
| 净利润 | $113.8M | $-32.7M |
| 毛利率 | 83.9% | 17.6% |
| 营业利润率 | 28.9% | -0.5% |
| 净利率 | 20.9% | -4.8% |
| 营收同比 | 10.2% | -0.4% |
| 净利润同比 | 0.2% | 41.6% |
| 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PAYCRXT
| Q4 25 | $544.3M | $682.8M | ||
| Q3 25 | $493.3M | $671.2M | ||
| Q2 25 | $483.6M | $666.3M | ||
| Q1 25 | $530.5M | $665.4M | ||
| Q4 24 | $493.9M | $685.6M | ||
| Q3 24 | $451.9M | $675.8M | ||
| Q2 24 | $437.5M | $684.9M | ||
| Q1 24 | $499.9M | $690.8M |
净利润PAYCRXT
| Q4 25 | $113.8M | $-32.7M | ||
| Q3 25 | $110.7M | $-67.1M | ||
| Q2 25 | $89.5M | $-54.5M | ||
| Q1 25 | $139.4M | $-71.5M | ||
| Q4 24 | $113.6M | $-56.0M | ||
| Q3 24 | $73.3M | $-186.6M | ||
| Q2 24 | $68.0M | $25.0M | ||
| Q1 24 | $247.2M | $-640.6M |
毛利率PAYCRXT
| Q4 25 | 83.9% | 17.6% | ||
| Q3 25 | 82.7% | 19.4% | ||
| Q2 25 | 81.9% | 19.4% | ||
| Q1 25 | 84.1% | 19.1% | ||
| Q4 24 | 83.1% | 19.2% | ||
| Q3 24 | 80.5% | 20.3% | ||
| Q2 24 | 80.8% | 19.2% | ||
| Q1 24 | 84.3% | 19.2% |
营业利润率PAYCRXT
| Q4 25 | 28.9% | -0.5% | ||
| Q3 25 | 22.8% | -5.1% | ||
| Q2 25 | 23.2% | -3.8% | ||
| Q1 25 | 34.9% | -5.8% | ||
| Q4 24 | 30.1% | -4.2% | ||
| Q3 24 | 23.2% | -25.7% | ||
| Q2 24 | 21.7% | -7.9% | ||
| Q1 24 | 57.2% | -94.5% |
净利率PAYCRXT
| Q4 25 | 20.9% | -4.8% | ||
| Q3 25 | 22.4% | -10.0% | ||
| Q2 25 | 18.5% | -8.2% | ||
| Q1 25 | 26.3% | -10.7% | ||
| Q4 24 | 23.0% | -8.2% | ||
| Q3 24 | 16.2% | -27.6% | ||
| Q2 24 | 15.5% | 3.7% | ||
| Q1 24 | 49.4% | -92.7% |
每股收益（稀释后）PAYCRXT
| Q4 25 | $2.06 | $-0.13 | ||
| Q3 25 | $1.96 | $-0.28 | ||
| Q2 25 | $1.58 | $-0.23 | ||
| Q1 25 | $2.48 | $-0.31 | ||
| Q4 24 | $2.04 | $-0.20 | ||
| Q3 24 | $1.31 | $-0.82 | ||
| Q2 24 | $1.20 | $0.11 | ||
| Q1 24 | $4.37 | $-2.91 |
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 | $105.8M |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $1.7B | $-1.2B |
| 总资产 | $7.6B | $2.8B |
| 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PAYCRXT
| Q4 25 | $370.0M | $105.8M | ||
| Q3 25 | $375.0M | $99.5M | ||
| Q2 25 | $532.2M | $103.9M | ||
| Q1 25 | $520.8M | $128.0M | ||
| Q4 24 | $402.0M | $144.0M | ||
| Q3 24 | $325.8M | $157.1M | ||
| Q2 24 | $346.5M | $190.2M | ||
| Q1 24 | $371.3M | $282.6M |
总债务PAYCRXT
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | — | $3.0B |
股东权益PAYCRXT
| Q4 25 | $1.7B | $-1.2B | ||
| Q3 25 | $1.7B | $-1.2B | ||
| Q2 25 | $1.8B | $-1.1B | ||
| Q1 25 | $1.7B | $-1.1B | ||
| Q4 24 | $1.6B | $-1.0B | ||
| Q3 24 | $1.5B | $-949.7M | ||
| Q2 24 | $1.4B | $-756.2M | ||
| Q1 24 | $1.4B | $-787.2M |
总资产PAYCRXT
| Q4 25 | $7.6B | $2.8B | ||
| Q3 25 | $4.2B | $2.8B | ||
| Q2 25 | $4.0B | $2.9B | ||
| Q1 25 | $4.6B | $3.0B | ||
| Q4 24 | $5.9B | $3.1B | ||
| Q3 24 | $3.5B | $3.1B | ||
| Q2 24 | $4.3B | $3.4B | ||
| Q1 24 | $4.7B | $3.5B |
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 | $59.7M |
| 自由现金流经营现金流 - 资本支出 | $122.6M | $56.0M |
| 自由现金流率自由现金流/营收 | 22.5% | 8.2% |
| 资本支出强度资本支出/营收 | 13.5% | 0.5% |
| 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 | $90.6M |
8季度趋势，按日历期对齐
经营现金流PAYCRXT
| Q4 25 | $196.1M | $59.7M | ||
| Q3 25 | $177.8M | $70.7M | ||
| Q2 25 | $122.5M | $8.4M | ||
| Q1 25 | $182.5M | $12.6M | ||
| Q4 24 | $160.4M | $54.3M | ||
| Q3 24 | $92.8M | $51.8M | ||
| Q2 24 | $132.1M | $24.1M | ||
| Q1 24 | $148.6M | $-90.3M |
自由现金流PAYCRXT
| Q4 25 | $122.6M | $56.0M | ||
| Q3 25 | $79.8M | $42.7M | ||
| Q2 25 | $60.8M | $-12.4M | ||
| Q1 25 | $144.8M | $4.3M | ||
| Q4 24 | $109.0M | $34.4M | ||
| Q3 24 | $44.6M | $27.3M | ||
| Q2 24 | $86.5M | $-14.5M | ||
| Q1 24 | $100.9M | $-118.4M |
自由现金流率PAYCRXT
| Q4 25 | 22.5% | 8.2% | ||
| Q3 25 | 16.2% | 6.4% | ||
| Q2 25 | 12.6% | -1.9% | ||
| Q1 25 | 27.3% | 0.6% | ||
| Q4 24 | 22.1% | 5.0% | ||
| Q3 24 | 9.9% | 4.0% | ||
| Q2 24 | 19.8% | -2.1% | ||
| Q1 24 | 20.2% | -17.1% |
资本支出强度PAYCRXT
| Q4 25 | 13.5% | 0.5% | ||
| Q3 25 | 19.9% | 4.2% | ||
| Q2 25 | 12.8% | 3.1% | ||
| Q1 25 | 7.1% | 1.2% | ||
| Q4 24 | 10.4% | 2.9% | ||
| Q3 24 | 10.7% | 3.6% | ||
| Q2 24 | 10.4% | 5.6% | ||
| Q1 24 | 9.5% | 4.1% |
现金转化率PAYCRXT
| Q4 25 | 1.72× | — | ||
| Q3 25 | 1.61× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 1.31× | — | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.94× | 0.96× | ||
| Q1 24 | 0.60× | — |
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% |
RXT
| Public Cloud Services Segment | $442.2M | 65% |
| Private Cloud Service Segment | $240.6M | 35% |
