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PROCORE TECHNOLOGIES, INC.（PCOR）与PIPER SANDLER COMPANIES（PIPR）财务数据对比。点击上方公司名可切换其他公司
PIPER SANDLER COMPANIES的季度营收约是PROCORE TECHNOLOGIES, INC.的1.9倍（$667.0M vs $349.1M），PIPER SANDLER COMPANIES净利率更高（17.1% vs -10.8%，领先27.9%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs 15.6%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs 13.8%）
Procore Technologies是2002年成立的美国建筑管理软件即服务（SaaS）企业，总部位于加利福尼亚州卡平特里亚。公司打造的全球平台可连接建筑行业从业者，支持搭建简化工作流，统一展现建筑项目信息，覆盖任务追踪、项目流程管理、日程排期等核心功能。
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
PCOR vs PIPR — 直观对比
营收规模更大
PIPR
是对方的1.9倍
$349.1M
营收增速更快
PIPR
高出21.8%
15.6%
净利率更高
PIPR
高出27.9%
-10.8%
两年增速更快
PIPR
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $349.1M | $667.0M |
| 净利润 | $-37.6M | $114.0M |
| 毛利率 | 80.1% | — |
| 营业利润率 | -12.3% | 28.3% |
| 净利率 | -10.8% | 17.1% |
| 营收同比 | 15.6% | 37.4% |
| 净利润同比 | 39.6% | 65.0% |
| 每股收益（稀释后） | $-0.25 | $6.41 |
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PCORPIPR
| Q4 25 | $349.1M | $667.0M | ||
| Q3 25 | $338.9M | $480.1M | ||
| Q2 25 | $323.9M | $398.6M | ||
| Q1 25 | $310.6M | $358.6M | ||
| Q4 24 | $302.0M | $485.4M | ||
| Q3 24 | $295.9M | $360.9M | ||
| Q2 24 | $284.3M | $340.8M | ||
| Q1 24 | $269.4M | $344.4M |
净利润PCORPIPR
| Q4 25 | $-37.6M | $114.0M | ||
| Q3 25 | $-9.1M | $60.3M | ||
| Q2 25 | $-21.1M | $42.2M | ||
| Q1 25 | $-33.0M | $64.9M | ||
| Q4 24 | $-62.3M | $69.1M | ||
| Q3 24 | $-26.4M | $34.8M | ||
| Q2 24 | $-6.3M | $34.8M | ||
| Q1 24 | $-11.0M | $42.5M |
毛利率PCORPIPR
| Q4 25 | 80.1% | — | ||
| Q3 25 | 79.7% | — | ||
| Q2 25 | 79.1% | — | ||
| Q1 25 | 79.1% | — | ||
| Q4 24 | 81.2% | — | ||
| Q3 24 | 81.4% | — | ||
| Q2 24 | 83.1% | — | ||
| Q1 24 | 83.0% | — |
营业利润率PCORPIPR
| Q4 25 | -12.3% | 28.3% | ||
| Q3 25 | -4.4% | 22.4% | ||
| Q2 25 | -9.3% | 12.3% | ||
| Q1 25 | -11.7% | 8.2% | ||
| Q4 24 | -21.9% | 16.9% | ||
| Q3 24 | -12.3% | 15.4% | ||
| Q2 24 | -5.2% | 8.3% | ||
| Q1 24 | -7.0% | 15.2% |
净利率PCORPIPR
| Q4 25 | -10.8% | 17.1% | ||
| Q3 25 | -2.7% | 12.6% | ||
| Q2 25 | -6.5% | 10.6% | ||
| Q1 25 | -10.6% | 18.1% | ||
| Q4 24 | -20.6% | 14.2% | ||
| Q3 24 | -8.9% | 9.6% | ||
| Q2 24 | -2.2% | 10.2% | ||
| Q1 24 | -4.1% | 12.3% |
每股收益（稀释后）PCORPIPR
| Q4 25 | $-0.25 | $6.41 | ||
| Q3 25 | $-0.06 | $3.38 | ||
| Q2 25 | $-0.14 | $2.38 | ||
| Q1 25 | $-0.22 | $3.65 | ||
| Q4 24 | $-0.42 | $3.88 | ||
| Q3 24 | $-0.18 | $1.96 | ||
| Q2 24 | $-0.04 | $1.97 | ||
| Q1 24 | $-0.08 | $2.43 |
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 | $768.5M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $1.4B |
| 总资产 | $2.2B | $2.6B |
| 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PCORPIPR
| Q4 25 | $768.5M | — | ||
| Q3 25 | $684.0M | — | ||
| Q2 25 | $620.9M | — | ||
| Q1 25 | $566.7M | — | ||
| Q4 24 | $775.4M | — | ||
| Q3 24 | $756.9M | — | ||
| Q2 24 | $735.4M | — | ||
| Q1 24 | $744.6M | — |
股东权益PCORPIPR
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.1B | ||
| Q1 24 | $1.2B | $1.1B |
总资产PCORPIPR
| Q4 25 | $2.2B | $2.6B | ||
| Q3 25 | $2.1B | $2.2B | ||
| Q2 25 | $2.0B | $2.0B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $2.1B | $2.3B | ||
| Q3 24 | $2.0B | $2.0B | ||
| Q2 24 | $2.0B | $1.9B | ||
| Q1 24 | $1.9B | $1.8B |
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 | $114.9M | $729.8M |
| 自由现金流经营现金流 - 资本支出 | $109.2M | — |
| 自由现金流率自由现金流/营收 | 31.3% | — |
| 资本支出强度资本支出/营收 | 1.6% | — |
| 现金转化率经营现金流/净利润 | — | 6.40× |
| 过去12个月自由现金流最近4个季度 | $282.2M | — |
8季度趋势，按日历期对齐
经营现金流PCORPIPR
| Q4 25 | $114.9M | $729.8M | ||
| Q3 25 | $88.5M | $31.9M | ||
| Q2 25 | $30.8M | $32.1M | ||
| Q1 25 | $66.0M | $-207.2M | ||
| Q4 24 | $29.1M | $163.8M | ||
| Q3 24 | $39.3M | $80.1M | ||
| Q2 24 | $58.7M | $266.5M | ||
| Q1 24 | $69.1M | $-197.2M |
自由现金流PCORPIPR
| Q4 25 | $109.2M | — | ||
| Q3 25 | $83.1M | — | ||
| Q2 25 | $27.9M | — | ||
| Q1 25 | $62.0M | — | ||
| Q4 24 | $17.4M | — | ||
| Q3 24 | $35.7M | — | ||
| Q2 24 | $56.8M | — | ||
| Q1 24 | $67.1M | — |
自由现金流率PCORPIPR
| Q4 25 | 31.3% | — | ||
| Q3 25 | 24.5% | — | ||
| Q2 25 | 8.6% | — | ||
| Q1 25 | 20.0% | — | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 12.1% | — | ||
| Q2 24 | 20.0% | — | ||
| Q1 24 | 24.9% | — |
资本支出强度PCORPIPR
| Q4 25 | 1.6% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 0.8% | — |
现金转化率PCORPIPR
| Q4 25 | — | 6.40× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.76× | ||
| Q1 25 | — | -3.19× | ||
| Q4 24 | — | 2.37× | ||
| Q3 24 | — | 2.30× | ||
| Q2 24 | — | 7.66× | ||
| Q1 24 | — | -4.64× |
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
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
