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Paychex（PAYX）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是瑞思迈的1.1倍（$1.5B vs $1.4B），瑞思迈净利率更高（27.6% vs 26.3%，领先1.3%），Paychex同比增速更快（17.4% vs 11.0%），Paychex自由现金流更多（$382.8M vs $311.2M），过去两年瑞思迈的营收复合增速更高（9.0% vs 3.8%）
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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
PAYX vs RMD — 直观对比
营收规模更大
PAYX
是对方的1.1倍
$1.4B
营收增速更快
PAYX
高出6.4%
11.0%
净利率更高
RMD
高出1.3%
26.3%
自由现金流更多
PAYX
多$71.6M
$311.2M
两年增速更快
RMD
近两年复合增速
3.8%
损益表 — Q2 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.4B |
| 净利润 | $395.4M | $392.6M |
| 毛利率 | 72.6% | 61.8% |
| 营业利润率 | 38.0% | 34.6% |
| 净利率 | 26.3% | 27.6% |
| 营收同比 | 17.4% | 11.0% |
| 净利润同比 | -4.4% | 13.9% |
| 每股收益（稀释后） | $1.10 | $2.68 |
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PAYXRMD
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.4B | $1.3B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
净利润PAYXRMD
| Q4 25 | $395.4M | $392.6M | ||
| Q3 25 | $383.8M | $348.5M | ||
| Q2 25 | $297.2M | $379.7M | ||
| Q1 25 | $519.3M | $365.0M | ||
| Q4 24 | $413.4M | $344.6M | ||
| Q3 24 | $427.4M | $311.4M | ||
| Q2 24 | $379.9M | $292.2M | ||
| Q1 24 | $498.6M | $300.5M |
毛利率PAYXRMD
| Q4 25 | 72.6% | 61.8% | ||
| Q3 25 | 72.3% | 61.5% | ||
| Q2 25 | 71.5% | 60.8% | ||
| Q1 25 | 73.6% | 59.3% | ||
| Q4 24 | 70.4% | 58.6% | ||
| Q3 24 | 70.3% | 58.6% | ||
| Q2 24 | 70.1% | 58.5% | ||
| Q1 24 | 72.8% | 57.9% |
营业利润率PAYXRMD
| Q4 25 | 38.0% | 34.6% | ||
| Q3 25 | 36.3% | 33.4% | ||
| Q2 25 | 31.2% | 33.7% | ||
| Q1 25 | 47.2% | 33.0% | ||
| Q4 24 | 42.0% | 32.5% | ||
| Q3 24 | 42.7% | 31.6% | ||
| Q2 24 | 38.3% | 31.2% | ||
| Q1 24 | 46.6% | 31.3% |
净利率PAYXRMD
| Q4 25 | 26.3% | 27.6% | ||
| Q3 25 | 25.7% | 26.1% | ||
| Q2 25 | 21.5% | 28.2% | ||
| Q1 25 | 35.4% | 28.3% | ||
| Q4 24 | 32.3% | 26.9% | ||
| Q3 24 | 33.4% | 25.4% | ||
| Q2 24 | 30.2% | 23.9% | ||
| Q1 24 | 35.7% | 25.1% |
每股收益（稀释后）PAYXRMD
| Q4 25 | $1.10 | $2.68 | ||
| Q3 25 | $1.06 | $2.37 | ||
| Q2 25 | $0.83 | $2.58 | ||
| Q1 25 | $1.43 | $2.48 | ||
| Q4 24 | $1.14 | $2.34 | ||
| Q3 24 | $1.18 | $2.11 | ||
| Q2 24 | $1.05 | $1.97 | ||
| Q1 24 | $1.38 | $2.04 |
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 | $1.4B |
| 总债务越低越好 | $5.0B | $403.9M |
| 股东权益账面价值 | $3.9B | $6.3B |
| 总资产 | $16.5B | $8.5B |
| 负债/权益比越低杠杆越低 | 1.28× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资PAYXRMD
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.6B | $932.7M | ||
| Q4 24 | $1.2B | $521.9M | ||
| Q3 24 | $1.5B | $426.4M | ||
| Q2 24 | $1.5B | $238.4M | ||
| Q1 24 | $1.7B | $237.9M |
总债务PAYXRMD
| Q4 25 | $5.0B | $403.9M | ||
| Q3 25 | $5.0B | $408.7M | ||
| Q2 25 | $4.9B | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | — | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | $798.6M | $697.3M | ||
| Q1 24 | — | $997.0M |
股东权益PAYXRMD
| Q4 25 | $3.9B | $6.3B | ||
| Q3 25 | $4.0B | $6.1B | ||
| Q2 25 | $4.1B | $6.0B | ||
| Q1 25 | $4.1B | $5.5B | ||
| Q4 24 | $3.9B | $5.3B | ||
| Q3 24 | $3.9B | $5.2B | ||
| Q2 24 | $3.8B | $4.9B | ||
| Q1 24 | $3.7B | $4.6B |
总资产PAYXRMD
| Q4 25 | $16.5B | $8.5B | ||
| Q3 25 | $16.7B | $8.3B | ||
| Q2 25 | $16.6B | $8.2B | ||
| Q1 25 | $11.2B | $7.6B | ||
| Q4 24 | $10.6B | $7.1B | ||
| Q3 24 | $10.5B | $7.2B | ||
| Q2 24 | $10.4B | $6.9B | ||
| Q1 24 | $13.0B | $6.8B |
负债/权益比PAYXRMD
| Q4 25 | 1.28× | 0.06× | ||
| Q3 25 | 1.25× | 0.07× | ||
| Q2 25 | 1.20× | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | 0.21× | 0.14× | ||
| Q1 24 | — | 0.22× |
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 | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $382.8M | $311.2M |
| 自由现金流率自由现金流/营收 | 25.5% | 21.9% |
| 资本支出强度资本支出/营收 | 4.1% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.13× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $1.8B |
8季度趋势，按日历期对齐
经营现金流PAYXRMD
| Q4 25 | $444.9M | $339.7M | ||
| Q3 25 | $718.4M | $457.3M | ||
| Q2 25 | $343.8M | $538.8M | ||
| Q1 25 | $716.0M | $578.7M | ||
| Q4 24 | $295.0M | $308.6M | ||
| Q3 24 | $546.1M | $325.5M | ||
| Q2 24 | $221.7M | $440.1M | ||
| Q1 24 | $671.7M | $402.0M |
自由现金流PAYXRMD
| Q4 25 | $382.8M | $311.2M | ||
| Q3 25 | $662.5M | $414.4M | ||
| Q2 25 | $283.3M | $508.2M | ||
| Q1 25 | $667.3M | $557.9M | ||
| Q4 24 | $248.0M | $288.0M | ||
| Q3 24 | $510.5M | $307.7M | ||
| Q2 24 | $180.4M | $415.2M | ||
| Q1 24 | $631.0M | $380.8M |
自由现金流率PAYXRMD
| Q4 25 | 25.5% | 21.9% | ||
| Q3 25 | 44.4% | 31.0% | ||
| Q2 25 | 20.5% | 37.7% | ||
| Q1 25 | 45.5% | 43.2% | ||
| Q4 24 | 19.4% | 22.5% | ||
| Q3 24 | 39.9% | 25.1% | ||
| Q2 24 | 14.4% | 33.9% | ||
| Q1 24 | 45.2% | 31.8% |
资本支出强度PAYXRMD
| Q4 25 | 4.1% | 2.0% | ||
| Q3 25 | 3.7% | 3.2% | ||
| Q2 25 | 4.4% | 2.3% | ||
| Q1 25 | 3.3% | 1.6% | ||
| Q4 24 | 3.7% | 1.6% | ||
| Q3 24 | 2.8% | 1.5% | ||
| Q2 24 | 3.3% | 2.0% | ||
| Q1 24 | 2.9% | 1.8% |
现金转化率PAYXRMD
| Q4 25 | 1.13× | 0.87× | ||
| Q3 25 | 1.87× | 1.31× | ||
| Q2 25 | 1.16× | 1.42× | ||
| Q1 25 | 1.38× | 1.59× | ||
| Q4 24 | 0.71× | 0.90× | ||
| Q3 24 | 1.28× | 1.05× | ||
| Q2 24 | 0.58× | 1.51× | ||
| Q1 24 | 1.35× | 1.34× |
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% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
