vs
Paychex（PAYX）与优步（UBER）财务数据对比。点击上方公司名可切换其他公司
优步的季度营收约是Paychex的9.6倍（$14.4B vs $1.5B），Paychex净利率更高（26.3% vs 2.1%，领先24.2%），优步同比增速更快（20.1% vs 17.4%），优步自由现金流更多（$2.8B vs $382.8M），过去两年优步的营收复合增速更高（19.1% 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。
优步是总部位于美国加利福尼亚州旧金山的跨国出行科技企业，核心业务涵盖网约车、快递、食品配送及货运服务，业务覆盖全球约70个国家和15000座城市，是全球规模最大的共享出行平台，月活用户超1.8亿，活跃司机及配送员超600万。
PAYX vs UBER — 直观对比
营收规模更大
UBER
是对方的9.6倍
$1.5B
营收增速更快
UBER
高出2.8%
17.4%
净利率更高
PAYX
高出24.2%
2.1%
自由现金流更多
UBER
多$2.4B
$382.8M
两年增速更快
UBER
近两年复合增速
3.8%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $14.4B |
| 净利润 | $395.4M | $296.0M |
| 毛利率 | 72.6% | — |
| 营业利润率 | 38.0% | 12.3% |
| 净利率 | 26.3% | 2.1% |
| 营收同比 | 17.4% | 20.1% |
| 净利润同比 | -4.4% | -95.7% |
| 每股收益（稀释后） | $1.10 | $0.16 |
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PAYXUBER
| Q4 25 | $1.5B | $14.4B | ||
| Q3 25 | $1.5B | $13.5B | ||
| Q2 25 | $1.4B | $12.7B | ||
| Q1 25 | $1.5B | $11.5B | ||
| Q4 24 | $1.3B | $12.0B | ||
| Q3 24 | $1.3B | $11.2B | ||
| Q2 24 | $1.3B | $10.7B | ||
| Q1 24 | $1.4B | $10.1B |
净利润PAYXUBER
| Q4 25 | $395.4M | $296.0M | ||
| Q3 25 | $383.8M | $6.6B | ||
| Q2 25 | $297.2M | $1.4B | ||
| Q1 25 | $519.3M | $1.8B | ||
| Q4 24 | $413.4M | $6.9B | ||
| Q3 24 | $427.4M | $2.6B | ||
| Q2 24 | $379.9M | $1.0B | ||
| Q1 24 | $498.6M | $-654.0M |
毛利率PAYXUBER
| 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% | — | ||
| Q1 24 | 72.8% | — |
营业利润率PAYXUBER
| Q4 25 | 38.0% | 12.3% | ||
| Q3 25 | 36.3% | 8.3% | ||
| Q2 25 | 31.2% | 11.5% | ||
| Q1 25 | 47.2% | 10.6% | ||
| Q4 24 | 42.0% | 6.4% | ||
| Q3 24 | 42.7% | 9.5% | ||
| Q2 24 | 38.3% | 7.4% | ||
| Q1 24 | 46.6% | 1.7% |
净利率PAYXUBER
| Q4 25 | 26.3% | 2.1% | ||
| Q3 25 | 25.7% | 49.2% | ||
| Q2 25 | 21.5% | 10.7% | ||
| Q1 25 | 35.4% | 15.4% | ||
| Q4 24 | 32.3% | 57.6% | ||
| Q3 24 | 33.4% | 23.3% | ||
| Q2 24 | 30.2% | 9.5% | ||
| Q1 24 | 35.7% | -6.5% |
每股收益（稀释后）PAYXUBER
| Q4 25 | $1.10 | $0.16 | ||
| Q3 25 | $1.06 | $3.11 | ||
| Q2 25 | $0.83 | $0.63 | ||
| Q1 25 | $1.43 | $0.83 | ||
| Q4 24 | $1.14 | $3.21 | ||
| Q3 24 | $1.18 | $1.20 | ||
| Q2 24 | $1.05 | $0.47 | ||
| Q1 24 | $1.38 | $-0.32 |
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 | $7.6B |
| 总债务越低越好 | $5.0B | $10.6B |
| 股东权益账面价值 | $3.9B | $27.0B |
| 总资产 | $16.5B | $61.8B |
| 负债/权益比越低杠杆越低 | 1.28× | 0.39× |
8季度趋势，按日历期对齐
现金及短期投资PAYXUBER
| Q4 25 | $1.5B | $7.6B | ||
| Q3 25 | $1.7B | $9.1B | ||
| Q2 25 | $1.7B | $7.4B | ||
| Q1 25 | $1.6B | $6.0B | ||
| Q4 24 | $1.2B | $7.0B | ||
| Q3 24 | $1.5B | $9.1B | ||
| Q2 24 | $1.5B | $6.3B | ||
| Q1 24 | $1.7B | $5.8B |
总债务PAYXUBER
| Q4 25 | $5.0B | $10.6B | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $4.9B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $9.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | $798.6M | — | ||
| Q1 24 | — | — |
股东权益PAYXUBER
| Q4 25 | $3.9B | $27.0B | ||
| Q3 25 | $4.0B | $28.1B | ||
| Q2 25 | $4.1B | $22.6B | ||
| Q1 25 | $4.1B | $22.0B | ||
| Q4 24 | $3.9B | $21.6B | ||
| Q3 24 | $3.9B | $14.8B | ||
| Q2 24 | $3.8B | $12.3B | ||
| Q1 24 | $3.7B | $11.1B |
总资产PAYXUBER
| Q4 25 | $16.5B | $61.8B | ||
| Q3 25 | $16.7B | $63.3B | ||
| Q2 25 | $16.6B | $56.0B | ||
| Q1 25 | $11.2B | $52.8B | ||
| Q4 24 | $10.6B | $51.2B | ||
| Q3 24 | $10.5B | $47.1B | ||
| Q2 24 | $10.4B | $41.5B | ||
| Q1 24 | $13.0B | $39.6B |
负债/权益比PAYXUBER
| Q4 25 | 1.28× | 0.39× | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.21× | — | ||
| Q1 24 | — | — |
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 | $2.9B |
| 自由现金流经营现金流 - 资本支出 | $382.8M | $2.8B |
| 自由现金流率自由现金流/营收 | 25.5% | 19.5% |
| 资本支出强度资本支出/营收 | 4.1% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.13× | 9.74× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $9.8B |
8季度趋势，按日历期对齐
经营现金流PAYXUBER
| Q4 25 | $444.9M | $2.9B | ||
| Q3 25 | $718.4M | $2.3B | ||
| Q2 25 | $343.8M | $2.6B | ||
| Q1 25 | $716.0M | $2.3B | ||
| Q4 24 | $295.0M | $1.8B | ||
| Q3 24 | $546.1M | $2.2B | ||
| Q2 24 | $221.7M | $1.8B | ||
| Q1 24 | $671.7M | $1.4B |
自由现金流PAYXUBER
| Q4 25 | $382.8M | $2.8B | ||
| Q3 25 | $662.5M | $2.2B | ||
| Q2 25 | $283.3M | $2.5B | ||
| Q1 25 | $667.3M | $2.3B | ||
| Q4 24 | $248.0M | $1.7B | ||
| Q3 24 | $510.5M | $2.1B | ||
| Q2 24 | $180.4M | $1.7B | ||
| Q1 24 | $631.0M | $1.4B |
自由现金流率PAYXUBER
| Q4 25 | 25.5% | 19.5% | ||
| Q3 25 | 44.4% | 16.6% | ||
| Q2 25 | 20.5% | 19.6% | ||
| Q1 25 | 45.5% | 19.5% | ||
| Q4 24 | 19.4% | 14.3% | ||
| Q3 24 | 39.9% | 18.9% | ||
| Q2 24 | 14.4% | 16.1% | ||
| Q1 24 | 45.2% | 13.4% |
资本支出强度PAYXUBER
| Q4 25 | 4.1% | 0.5% | ||
| Q3 25 | 3.7% | 0.7% | ||
| Q2 25 | 4.4% | 0.7% | ||
| Q1 25 | 3.3% | 0.6% | ||
| Q4 24 | 3.7% | 0.4% | ||
| Q3 24 | 2.8% | 0.4% | ||
| Q2 24 | 3.3% | 0.9% | ||
| Q1 24 | 2.9% | 0.6% |
现金转化率PAYXUBER
| Q4 25 | 1.13× | 9.74× | ||
| Q3 25 | 1.87× | 0.35× | ||
| Q2 25 | 1.16× | 1.89× | ||
| Q1 25 | 1.38× | 1.31× | ||
| Q4 24 | 0.71× | 0.25× | ||
| Q3 24 | 1.28× | 0.82× | ||
| Q2 24 | 0.58× | 1.79× | ||
| Q1 24 | 1.35× | — |
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% |
UBER
| Mobility | $8.2B | 57% |
| Delivery | $4.9B | 34% |
| Freight | $1.3B | 9% |
