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Paychex（PAYX）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
Paychex的季度营收约是Rithm Capital Corp.的1.8倍（$1.5B vs $828.2M），Paychex净利率更高（26.3% vs 13.2%，领先13.1%），Rithm Capital Corp.同比增速更快（508.5% vs 17.4%），过去两年Paychex的营收复合增速更高（3.8% vs -17.9%）
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
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。
PAYX vs RITM — 直观对比
营收规模更大
PAYX
是对方的1.8倍
$828.2M
营收增速更快
RITM
高出491.1%
17.4%
净利率更高
PAYX
高出13.1%
13.2%
两年增速更快
PAYX
近两年复合增速
-17.9%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $828.2M |
| 净利润 | $395.4M | $109.5M |
| 毛利率 | 72.6% | — |
| 营业利润率 | 38.0% | 29.9% |
| 净利率 | 26.3% | 13.2% |
| 营收同比 | 17.4% | 508.5% |
| 净利润同比 | -4.4% | 27.7% |
| 每股收益（稀释后） | $1.10 | $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PAYXRITM
| Q1 26 | — | $828.2M | ||
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.5B | $768.4M | ||
| Q4 24 | $1.3B | $2.1B | ||
| Q3 24 | $1.3B | $619.5M | ||
| Q2 24 | $1.3B | $1.2B |
净利润PAYXRITM
| Q1 26 | — | $109.5M | ||
| Q4 25 | $395.4M | $85.0M | ||
| Q3 25 | $383.8M | $221.5M | ||
| Q2 25 | $297.2M | $311.7M | ||
| Q1 25 | $519.3M | $78.8M | ||
| Q4 24 | $413.4M | $290.2M | ||
| Q3 24 | $427.4M | $121.7M | ||
| Q2 24 | $379.9M | $235.6M |
毛利率PAYXRITM
| Q1 26 | — | — | ||
| Q4 25 | 72.6% | — | ||
| Q3 25 | 72.3% | — | ||
| Q2 25 | 71.5% | — | ||
| Q1 25 | 73.6% | — | ||
| Q4 24 | 70.4% | — | ||
| Q3 24 | 70.3% | — | ||
| Q2 24 | 70.1% | — |
营业利润率PAYXRITM
| Q1 26 | — | 29.9% | ||
| Q4 25 | 38.0% | 13.8% | ||
| Q3 25 | 36.3% | 21.4% | ||
| Q2 25 | 31.2% | 25.2% | ||
| Q1 25 | 47.2% | 7.4% | ||
| Q4 24 | 42.0% | 23.8% | ||
| Q3 24 | 42.7% | 7.3% | ||
| Q2 24 | 38.3% | 23.6% |
净利率PAYXRITM
| Q1 26 | — | 13.2% | ||
| Q4 25 | 26.3% | 5.7% | ||
| Q3 25 | 25.7% | 20.0% | ||
| Q2 25 | 21.5% | 25.6% | ||
| Q1 25 | 35.4% | 10.3% | ||
| Q4 24 | 32.3% | 14.0% | ||
| Q3 24 | 33.4% | 19.7% | ||
| Q2 24 | 30.2% | 19.2% |
每股收益（稀释后）PAYXRITM
| Q1 26 | — | $0.12 | ||
| Q4 25 | $1.10 | $0.09 | ||
| Q3 25 | $1.06 | $0.35 | ||
| Q2 25 | $0.83 | $0.53 | ||
| Q1 25 | $1.43 | $0.07 | ||
| Q4 24 | $1.14 | $0.50 | ||
| Q3 24 | $1.18 | $0.20 | ||
| Q2 24 | $1.05 | $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 | $1.5B | — |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $3.9B | $9.1B |
| 总资产 | $16.5B | $53.4B |
| 负债/权益比越低杠杆越低 | 1.28× | — |
8季度趋势，按日历期对齐
现金及短期投资PAYXRITM
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $1.8B | ||
| Q3 25 | $1.7B | $1.6B | ||
| Q2 25 | $1.7B | $1.6B | ||
| Q1 25 | $1.6B | $1.5B | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $1.5B | $1.6B | ||
| Q2 24 | $1.5B | $1.2B |
总债务PAYXRITM
| Q1 26 | — | — | ||
| Q4 25 | $5.0B | $35.4B | ||
| Q3 25 | $5.0B | $32.2B | ||
| Q2 25 | $4.9B | $31.2B | ||
| Q1 25 | — | $32.2B | ||
| Q4 24 | — | $32.6B | ||
| Q3 24 | — | $29.6B | ||
| Q2 24 | $798.6M | $30.1B |
股东权益PAYXRITM
| Q1 26 | — | $9.1B | ||
| Q4 25 | $3.9B | $8.4B | ||
| Q3 25 | $4.0B | $8.5B | ||
| Q2 25 | $4.1B | $7.9B | ||
| Q1 25 | $4.1B | $7.8B | ||
| Q4 24 | $3.9B | $7.8B | ||
| Q3 24 | $3.9B | $7.7B | ||
| Q2 24 | $3.8B | $7.3B |
总资产PAYXRITM
| Q1 26 | — | $53.4B | ||
| Q4 25 | $16.5B | $53.1B | ||
| Q3 25 | $16.7B | $47.2B | ||
| Q2 25 | $16.6B | $44.3B | ||
| Q1 25 | $11.2B | $45.3B | ||
| Q4 24 | $10.6B | $46.0B | ||
| Q3 24 | $10.5B | $42.3B | ||
| Q2 24 | $10.4B | $42.0B |
负债/权益比PAYXRITM
| Q1 26 | — | — | ||
| Q4 25 | 1.28× | 4.20× | ||
| Q3 25 | 1.25× | 3.79× | ||
| Q2 25 | 1.20× | 3.92× | ||
| Q1 25 | — | 4.14× | ||
| Q4 24 | — | 4.18× | ||
| Q3 24 | — | 3.87× | ||
| Q2 24 | 0.21× | 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 | $444.9M | — |
| 自由现金流经营现金流 - 资本支出 | $382.8M | — |
| 自由现金流率自由现金流/营收 | 25.5% | — |
| 资本支出强度资本支出/营收 | 4.1% | — |
| 现金转化率经营现金流/净利润 | 1.13× | — |
| 过去12个月自由现金流最近4个季度 | $2.0B | — |
8季度趋势，按日历期对齐
经营现金流PAYXRITM
| Q1 26 | — | — | ||
| Q4 25 | $444.9M | $-114.6M | ||
| Q3 25 | $718.4M | $-2.0B | ||
| Q2 25 | $343.8M | $-557.1M | ||
| Q1 25 | $716.0M | $1.4B | ||
| Q4 24 | $295.0M | $-1.8B | ||
| Q3 24 | $546.1M | $768.1M | ||
| Q2 24 | $221.7M | $-55.7M |
自由现金流PAYXRITM
| Q1 26 | — | — | ||
| Q4 25 | $382.8M | — | ||
| Q3 25 | $662.5M | — | ||
| Q2 25 | $283.3M | — | ||
| Q1 25 | $667.3M | — | ||
| Q4 24 | $248.0M | — | ||
| Q3 24 | $510.5M | — | ||
| Q2 24 | $180.4M | — |
自由现金流率PAYXRITM
| Q1 26 | — | — | ||
| Q4 25 | 25.5% | — | ||
| Q3 25 | 44.4% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 45.5% | — | ||
| Q4 24 | 19.4% | — | ||
| Q3 24 | 39.9% | — | ||
| Q2 24 | 14.4% | — |
资本支出强度PAYXRITM
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 4.4% | — | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | 3.3% | — |
现金转化率PAYXRITM
| Q1 26 | — | — | ||
| Q4 25 | 1.13× | -1.35× | ||
| Q3 25 | 1.87× | -9.22× | ||
| Q2 25 | 1.16× | -1.79× | ||
| Q1 25 | 1.38× | 18.03× | ||
| Q4 24 | 0.71× | -6.04× | ||
| Q3 24 | 1.28× | 6.31× | ||
| Q2 24 | 0.58× | -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
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
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% |
