vs
Paychex（PAYX）与URBAN OUTFITTERS INC（URBN）财务数据对比。点击上方公司名可切换其他公司
URBAN OUTFITTERS INC的季度营收约是Paychex的1.0倍（$1.5B vs $1.5B），Paychex净利率更高（26.3% vs 7.6%，领先18.7%），Paychex同比增速更快（17.4% vs 12.3%），Paychex自由现金流更多（$382.8M vs $-22.8M），过去两年Paychex的营收复合增速更高（3.8% vs 1.4%）
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。
URBN是总部位于美国宾夕法尼亚州费城的跨国生活方式零售企业，旗下Urban Outfitters品牌面向年轻消费群体，产品涵盖男女时装、鞋履、美妆个护、配饰、运动服饰装备、家居用品及音乐周边等，业务覆盖美国、英国、加拿大、部分西欧国家、波兰、阿联酋、科威特、卡塔尔等市场。
PAYX vs URBN — 直观对比
营收规模更大
URBN
是对方的1.0倍
$1.5B
营收增速更快
PAYX
高出5.1%
12.3%
净利率更高
PAYX
高出18.7%
7.6%
自由现金流更多
PAYX
多$405.6M
$-22.8M
两年增速更快
PAYX
近两年复合增速
1.4%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.5B |
| 净利润 | $395.4M | $116.4M |
| 毛利率 | 72.6% | 36.8% |
| 营业利润率 | 38.0% | 9.4% |
| 净利率 | 26.3% | 7.6% |
| 营收同比 | 17.4% | 12.3% |
| 净利润同比 | -4.4% | 13.1% |
| 每股收益（稀释后） | $1.10 | $1.28 |
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PAYXURBN
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.4B | $1.3B | ||
| Q1 25 | $1.5B | $1.6B | ||
| Q4 24 | $1.3B | $1.4B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.4B | $1.5B |
净利润PAYXURBN
| Q4 25 | $395.4M | $116.4M | ||
| Q3 25 | $383.8M | $143.9M | ||
| Q2 25 | $297.2M | $108.3M | ||
| Q1 25 | $519.3M | $120.3M | ||
| Q4 24 | $413.4M | $102.9M | ||
| Q3 24 | $427.4M | $117.5M | ||
| Q2 24 | $379.9M | $61.8M | ||
| Q1 24 | $498.6M | $47.8M |
毛利率PAYXURBN
| Q4 25 | 72.6% | 36.8% | ||
| Q3 25 | 72.3% | 37.6% | ||
| Q2 25 | 71.5% | 36.8% | ||
| Q1 25 | 73.6% | 32.3% | ||
| Q4 24 | 70.4% | 36.5% | ||
| Q3 24 | 70.3% | 36.5% | ||
| Q2 24 | 70.1% | 34.0% | ||
| Q1 24 | 72.8% | 29.2% |
营业利润率PAYXURBN
| Q4 25 | 38.0% | 9.4% | ||
| Q3 25 | 36.3% | 11.6% | ||
| Q2 25 | 31.2% | 9.6% | ||
| Q1 25 | 47.2% | 7.7% | ||
| Q4 24 | 42.0% | 9.4% | ||
| Q3 24 | 42.7% | 10.7% | ||
| Q2 24 | 38.3% | 6.2% | ||
| Q1 24 | 46.6% | 3.9% |
净利率PAYXURBN
| Q4 25 | 26.3% | 7.6% | ||
| Q3 25 | 25.7% | 9.6% | ||
| Q2 25 | 21.5% | 8.1% | ||
| Q1 25 | 35.4% | 7.4% | ||
| Q4 24 | 32.3% | 7.6% | ||
| Q3 24 | 33.4% | 8.7% | ||
| Q2 24 | 30.2% | 5.1% | ||
| Q1 24 | 35.7% | 3.2% |
每股收益（稀释后）PAYXURBN
| Q4 25 | $1.10 | $1.28 | ||
| Q3 25 | $1.06 | $1.58 | ||
| Q2 25 | $0.83 | $1.16 | ||
| Q1 25 | $1.43 | $1.27 | ||
| Q4 24 | $1.14 | $1.10 | ||
| Q3 24 | $1.18 | $1.24 | ||
| Q2 24 | $1.05 | $0.65 | ||
| Q1 24 | $1.38 | $0.51 |
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 | $306.6M |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $3.9B | $2.7B |
| 总资产 | $16.5B | $4.9B |
| 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PAYXURBN
| Q4 25 | $1.5B | $306.6M | ||
| Q3 25 | $1.7B | $332.2M | ||
| Q2 25 | $1.7B | $189.4M | ||
| Q1 25 | $1.6B | $290.5M | ||
| Q4 24 | $1.2B | $182.5M | ||
| Q3 24 | $1.5B | $209.1M | ||
| Q2 24 | $1.5B | $174.0M | ||
| Q1 24 | $1.7B | $178.3M |
总债务PAYXURBN
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $4.9B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $798.6M | — | ||
| Q1 24 | — | — |
股东权益PAYXURBN
| Q4 25 | $3.9B | $2.7B | ||
| Q3 25 | $4.0B | $2.6B | ||
| Q2 25 | $4.1B | $2.4B | ||
| Q1 25 | $4.1B | $2.5B | ||
| Q4 24 | $3.9B | $2.4B | ||
| Q3 24 | $3.9B | $2.2B | ||
| Q2 24 | $3.8B | $2.2B | ||
| Q1 24 | $3.7B | $2.1B |
总资产PAYXURBN
| Q4 25 | $16.5B | $4.9B | ||
| Q3 25 | $16.7B | $4.7B | ||
| Q2 25 | $16.6B | $4.5B | ||
| Q1 25 | $11.2B | $4.5B | ||
| Q4 24 | $10.6B | $4.5B | ||
| Q3 24 | $10.5B | $4.3B | ||
| Q2 24 | $10.4B | $4.2B | ||
| Q1 24 | $13.0B | $4.1B |
负债/权益比PAYXURBN
| Q4 25 | 1.28× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $61.1M |
| 自由现金流经营现金流 - 资本支出 | $382.8M | $-22.8M |
| 自由现金流率自由现金流/营收 | 25.5% | -1.5% |
| 资本支出强度资本支出/营收 | 4.1% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.13× | 0.53× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $402.7M |
8季度趋势，按日历期对齐
经营现金流PAYXURBN
| Q4 25 | $444.9M | $61.1M | ||
| Q3 25 | $718.4M | $218.0M | ||
| Q2 25 | $343.8M | $33.0M | ||
| Q1 25 | $716.0M | $320.5M | ||
| Q4 24 | $295.0M | $18.5M | ||
| Q3 24 | $546.1M | $105.3M | ||
| Q2 24 | $221.7M | $58.6M | ||
| Q1 24 | $671.7M | $229.2M |
自由现金流PAYXURBN
| Q4 25 | $382.8M | $-22.8M | ||
| Q3 25 | $662.5M | $156.6M | ||
| Q2 25 | $283.3M | $-13.1M | ||
| Q1 25 | $667.3M | $281.9M | ||
| Q4 24 | $248.0M | $-26.6M | ||
| Q3 24 | $510.5M | $47.5M | ||
| Q2 24 | $180.4M | $17.5M | ||
| Q1 24 | $631.0M | $180.6M |
自由现金流率PAYXURBN
| Q4 25 | 25.5% | -1.5% | ||
| Q3 25 | 44.4% | 10.4% | ||
| Q2 25 | 20.5% | -1.0% | ||
| Q1 25 | 45.5% | 17.2% | ||
| Q4 24 | 19.4% | -2.0% | ||
| Q3 24 | 39.9% | 3.5% | ||
| Q2 24 | 14.4% | 1.5% | ||
| Q1 24 | 45.2% | 12.2% |
资本支出强度PAYXURBN
| Q4 25 | 4.1% | 5.5% | ||
| Q3 25 | 3.7% | 4.1% | ||
| Q2 25 | 4.4% | 3.5% | ||
| Q1 25 | 3.3% | 2.4% | ||
| Q4 24 | 3.7% | 3.3% | ||
| Q3 24 | 2.8% | 4.3% | ||
| Q2 24 | 3.3% | 3.4% | ||
| Q1 24 | 2.9% | 3.3% |
现金转化率PAYXURBN
| Q4 25 | 1.13× | 0.53× | ||
| Q3 25 | 1.87× | 1.52× | ||
| Q2 25 | 1.16× | 0.30× | ||
| Q1 25 | 1.38× | 2.66× | ||
| Q4 24 | 0.71× | 0.18× | ||
| Q3 24 | 1.28× | 0.90× | ||
| Q2 24 | 0.58× | 0.95× | ||
| Q1 24 | 1.35× | 4.80× |
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% |
URBN
| Apparel | $861.4M | 56% |
| Home | $187.0M | 12% |
| Accessories | $182.6M | 12% |
| Subscription Operations | $144.6M | 9% |
| Wholesale Operations | $88.3M | 6% |
| Other | $65.3M | 4% |
