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PagerDuty, Inc.（PD）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
PagerDuty, Inc.的季度营收约是Vericel Corp的1.3倍（$124.5M vs $92.9M），PagerDuty, Inc.净利率更高（129.7% vs 25.0%，领先104.7%），Vericel Corp同比增速更快（23.3% vs 4.7%），PagerDuty, Inc.自由现金流更多（$24.1M vs $12.8M），过去两年Vericel Corp的营收复合增速更高（34.6% vs 5.9%）
PagerDuty是一家美国云计算企业，主打面向IT运维部门的SaaS事件管理平台，可帮助企业实时响应运维异常、快速定位并处理故障，保障业务系统稳定运行，目前已成为全球IT运维领域广受认可的数字化解决方案服务商。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
PD vs VCEL — 直观对比
营收规模更大
PD
是对方的1.3倍
$92.9M
营收增速更快
VCEL
高出18.6%
4.7%
净利率更高
PD
高出104.7%
25.0%
自由现金流更多
PD
多$11.2M
$12.8M
两年增速更快
VCEL
近两年复合增速
5.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $124.5M | $92.9M |
| 净利润 | $161.6M | $23.2M |
| 毛利率 | 85.3% | 78.7% |
| 营业利润率 | 6.5% | 24.1% |
| 净利率 | 129.7% | 25.0% |
| 营收同比 | 4.7% | 23.3% |
| 净利润同比 | 2827.7% | 17.3% |
| 每股收益（稀释后） | $1.69 | $0.46 |
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PDVCEL
| Q4 25 | $124.5M | $92.9M | ||
| Q3 25 | $123.4M | $67.5M | ||
| Q2 25 | $119.8M | $63.2M | ||
| Q1 25 | $121.4M | $52.6M | ||
| Q4 24 | $118.9M | $75.4M | ||
| Q3 24 | $115.9M | $57.9M | ||
| Q2 24 | $111.2M | $52.7M | ||
| Q1 24 | $111.1M | $51.3M |
净利润PDVCEL
| Q4 25 | $161.6M | $23.2M | ||
| Q3 25 | $9.6M | $5.1M | ||
| Q2 25 | $-7.2M | $-553.0K | ||
| Q1 25 | $-8.8M | $-11.2M | ||
| Q4 24 | $-5.9M | $19.8M | ||
| Q3 24 | $-10.9M | $-901.0K | ||
| Q2 24 | $-17.1M | $-4.7M | ||
| Q1 24 | $-28.2M | $-3.9M |
毛利率PDVCEL
| Q4 25 | 85.3% | 78.7% | ||
| Q3 25 | 84.6% | 73.5% | ||
| Q2 25 | 84.0% | 73.7% | ||
| Q1 25 | 83.6% | 69.0% | ||
| Q4 24 | 83.0% | 77.6% | ||
| Q3 24 | 82.7% | 71.9% | ||
| Q2 24 | 82.6% | 69.5% | ||
| Q1 24 | 81.7% | 68.9% |
营业利润率PDVCEL
| Q4 25 | 6.5% | 24.1% | ||
| Q3 25 | 2.9% | 5.1% | ||
| Q2 25 | -8.6% | -3.2% | ||
| Q1 25 | -9.6% | -24.3% | ||
| Q4 24 | -8.7% | 24.5% | ||
| Q3 24 | -13.8% | -4.3% | ||
| Q2 24 | -19.5% | -11.5% | ||
| Q1 24 | -30.1% | -10.7% |
净利率PDVCEL
| Q4 25 | 129.7% | 25.0% | ||
| Q3 25 | 7.8% | 7.5% | ||
| Q2 25 | -6.0% | -0.9% | ||
| Q1 25 | -7.2% | -21.4% | ||
| Q4 24 | -5.0% | 26.3% | ||
| Q3 24 | -9.4% | -1.6% | ||
| Q2 24 | -15.4% | -8.9% | ||
| Q1 24 | -25.3% | -7.5% |
每股收益（稀释后）PDVCEL
| Q4 25 | $1.69 | $0.46 | ||
| Q3 25 | $0.10 | $0.10 | ||
| Q2 25 | $-0.07 | $-0.01 | ||
| Q1 25 | $-0.12 | $-0.23 | ||
| Q4 24 | $-0.07 | $0.40 | ||
| Q3 24 | $-0.14 | $-0.02 | ||
| Q2 24 | $-0.26 | $-0.10 | ||
| Q1 24 | $-0.34 | $-0.08 |
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 | $547.8M | $137.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $320.5M | $354.6M |
| 总资产 | $1.0B | $488.0M |
| 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PDVCEL
| Q4 25 | $547.8M | $137.5M | ||
| Q3 25 | $567.9M | $135.4M | ||
| Q2 25 | $597.1M | $116.9M | ||
| Q1 25 | $570.8M | $112.9M | ||
| Q4 24 | $542.2M | $116.2M | ||
| Q3 24 | $599.3M | $101.7M | ||
| Q2 24 | $592.8M | $102.5M | ||
| Q1 24 | $571.2M | $110.6M |
总债务PDVCEL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $484.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $489.5M | — |
股东权益PDVCEL
| Q4 25 | $320.5M | $354.6M | ||
| Q3 25 | $180.7M | $321.9M | ||
| Q2 25 | $145.7M | $306.8M | ||
| Q1 25 | $129.8M | $295.5M | ||
| Q4 24 | $111.6M | $292.0M | ||
| Q3 24 | $164.7M | $257.5M | ||
| Q2 24 | $174.0M | $243.0M | ||
| Q1 24 | $171.6M | $233.9M |
总资产PDVCEL
| Q4 25 | $1.0B | $488.0M | ||
| Q3 25 | $891.5M | $453.3M | ||
| Q2 25 | $926.8M | $435.6M | ||
| Q1 25 | $927.3M | $424.6M | ||
| Q4 24 | $866.8M | $432.7M | ||
| Q3 24 | $916.0M | $390.4M | ||
| Q2 24 | $924.0M | $376.8M | ||
| Q1 24 | $925.3M | $356.7M |
负债/权益比PDVCEL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.73× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.85× | — |
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 | $24.8M | $15.0M |
| 自由现金流经营现金流 - 资本支出 | $24.1M | $12.8M |
| 自由现金流率自由现金流/营收 | 19.3% | 13.8% |
| 资本支出强度资本支出/营收 | 0.6% | 2.4% |
| 现金转化率经营现金流/净利润 | 0.15× | 0.65× |
| 过去12个月自由现金流最近4个季度 | $117.6M | $24.7M |
8季度趋势，按日历期对齐
经营现金流PDVCEL
| Q4 25 | $24.8M | $15.0M | ||
| Q3 25 | $34.0M | $22.1M | ||
| Q2 25 | $30.7M | $8.2M | ||
| Q1 25 | $31.4M | $6.6M | ||
| Q4 24 | $22.1M | $22.2M | ||
| Q3 24 | $35.8M | $10.2M | ||
| Q2 24 | $28.6M | $18.5M | ||
| Q1 24 | $22.2M | $7.2M |
自由现金流PDVCEL
| Q4 25 | $24.1M | $12.8M | ||
| Q3 25 | $33.1M | $19.5M | ||
| Q2 25 | $30.2M | $81.0K | ||
| Q1 25 | $30.3M | $-7.6M | ||
| Q4 24 | $21.5M | $8.5M | ||
| Q3 24 | $35.1M | $-9.2M | ||
| Q2 24 | $28.2M | $1.8M | ||
| Q1 24 | $21.2M | $-6.8M |
自由现金流率PDVCEL
| Q4 25 | 19.3% | 13.8% | ||
| Q3 25 | 26.8% | 28.8% | ||
| Q2 25 | 25.2% | 0.1% | ||
| Q1 25 | 24.9% | -14.5% | ||
| Q4 24 | 18.1% | 11.2% | ||
| Q3 24 | 30.3% | -15.9% | ||
| Q2 24 | 25.4% | 3.4% | ||
| Q1 24 | 19.1% | -13.3% |
资本支出强度PDVCEL
| Q4 25 | 0.6% | 2.4% | ||
| Q3 25 | 0.7% | 3.9% | ||
| Q2 25 | 0.4% | 12.9% | ||
| Q1 25 | 0.9% | 27.0% | ||
| Q4 24 | 0.5% | 18.3% | ||
| Q3 24 | 0.5% | 33.5% | ||
| Q2 24 | 0.4% | 31.8% | ||
| Q1 24 | 0.9% | 27.3% |
现金转化率PDVCEL
| Q4 25 | 0.15× | 0.65× | ||
| Q3 25 | 3.55× | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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
PD
| US | $88.8M | 71% |
| Non Us | $35.7M | 29% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
