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PDF SOLUTIONS INC（PDFS）与Safehold Inc.（SAFE）财务数据对比。点击上方公司名可切换其他公司
Safehold Inc.的季度营收约是PDF SOLUTIONS INC的1.6倍（$97.9M vs $62.4M），Safehold Inc.净利率更高（28.5% vs -0.1%，领先28.6%），PDF SOLUTIONS INC同比增速更快（24.6% vs 6.5%），过去两年PDF SOLUTIONS INC的营收复合增速更高（22.9% vs 2.5%）
PDF Solutions Inc是一家总部位于美国加利福尼亚州圣克拉拉的跨国企业，主营软件业务与工程技术服务，目前在纳斯达克交易所挂牌上市，股票代码为PDFS。
SAFE投资有限公司是一家位于中国香港的中国主权财富基金，主要承担主权财富相关的投资运营职能，依托香港的国际金融中心优势开展相关投资业务。
PDFS vs SAFE — 直观对比
营收规模更大
SAFE
是对方的1.6倍
$62.4M
营收增速更快
PDFS
高出18.1%
6.5%
净利率更高
SAFE
高出28.6%
-0.1%
两年增速更快
PDFS
近两年复合增速
2.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $62.4M | $97.9M |
| 净利润 | $-48.0K | $27.9M |
| 毛利率 | 72.9% | 98.6% |
| 营业利润率 | 5.5% | 27.4% |
| 净利率 | -0.1% | 28.5% |
| 营收同比 | 24.6% | 6.5% |
| 净利润同比 | -108.9% | 7.1% |
| 每股收益（稀释后） | $0.00 | $0.38 |
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PDFSSAFE
| Q4 25 | $62.4M | $97.9M | ||
| Q3 25 | $57.1M | $96.2M | ||
| Q2 25 | $51.7M | $93.8M | ||
| Q1 25 | $47.8M | $97.7M | ||
| Q4 24 | $50.1M | $91.9M | ||
| Q3 24 | $46.4M | $90.7M | ||
| Q2 24 | $41.7M | $89.9M | ||
| Q1 24 | $41.3M | $93.2M |
净利润PDFSSAFE
| Q4 25 | $-48.0K | $27.9M | ||
| Q3 25 | $1.3M | $29.3M | ||
| Q2 25 | $1.1M | $27.9M | ||
| Q1 25 | $-3.0M | $29.4M | ||
| Q4 24 | $539.0K | $26.0M | ||
| Q3 24 | $2.2M | $19.3M | ||
| Q2 24 | $1.7M | $29.7M | ||
| Q1 24 | $-393.0K | $30.7M |
毛利率PDFSSAFE
| Q4 25 | 72.9% | 98.6% | ||
| Q3 25 | 72.3% | 98.5% | ||
| Q2 25 | 71.2% | 99.1% | ||
| Q1 25 | 72.9% | 98.8% | ||
| Q4 24 | 68.3% | 98.8% | ||
| Q3 24 | 73.1% | 98.8% | ||
| Q2 24 | 70.6% | 98.8% | ||
| Q1 24 | 67.3% | 98.8% |
营业利润率PDFSSAFE
| Q4 25 | 5.5% | 27.4% | ||
| Q3 25 | 8.5% | 25.9% | ||
| Q2 25 | 2.2% | 25.5% | ||
| Q1 25 | -7.4% | 25.9% | ||
| Q4 24 | 1.0% | 24.6% | ||
| Q3 24 | 4.6% | 17.5% | ||
| Q2 24 | 0.6% | 26.7% | ||
| Q1 24 | -4.7% | 26.4% |
净利率PDFSSAFE
| Q4 25 | -0.1% | 28.5% | ||
| Q3 25 | 2.3% | 30.5% | ||
| Q2 25 | 2.2% | 29.8% | ||
| Q1 25 | -6.3% | 30.1% | ||
| Q4 24 | 1.1% | 28.3% | ||
| Q3 24 | 4.8% | 21.3% | ||
| Q2 24 | 4.1% | 33.0% | ||
| Q1 24 | -1.0% | 33.0% |
每股收益（稀释后）PDFSSAFE
| Q4 25 | $0.00 | $0.38 | ||
| Q3 25 | $0.03 | $0.41 | ||
| Q2 25 | $0.03 | $0.39 | ||
| Q1 25 | $-0.08 | $0.41 | ||
| Q4 24 | $0.01 | $0.36 | ||
| Q3 24 | $0.06 | $0.27 | ||
| Q2 24 | $0.04 | $0.42 | ||
| Q1 24 | $-0.01 | $0.43 |
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 | $42.2M | $21.7M |
| 总债务越低越好 | $67.0M | $4.6B |
| 股东权益账面价值 | $271.0M | $2.4B |
| 总资产 | $418.7M | $7.2B |
| 负债/权益比越低杠杆越低 | 0.25× | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资PDFSSAFE
| Q4 25 | $42.2M | $21.7M | ||
| Q3 25 | $35.9M | $12.1M | ||
| Q2 25 | $40.4M | $13.9M | ||
| Q1 25 | $54.1M | $17.3M | ||
| Q4 24 | $114.9M | $8.3M | ||
| Q3 24 | $120.2M | $15.6M | ||
| Q2 24 | $117.9M | $13.4M | ||
| Q1 24 | $122.9M | $11.3M |
总债务PDFSSAFE
| Q4 25 | $67.0M | $4.6B | ||
| Q3 25 | $67.6M | $4.5B | ||
| Q2 25 | $68.1M | $4.4B | ||
| Q1 25 | $68.7M | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
股东权益PDFSSAFE
| Q4 25 | $271.0M | $2.4B | ||
| Q3 25 | $264.4M | $2.4B | ||
| Q2 25 | $257.5M | $2.4B | ||
| Q1 25 | $249.0M | $2.4B | ||
| Q4 24 | $246.0M | $2.3B | ||
| Q3 24 | $240.5M | $2.3B | ||
| Q2 24 | $232.2M | $2.3B | ||
| Q1 24 | $225.4M | $2.3B |
总资产PDFSSAFE
| Q4 25 | $418.7M | $7.2B | ||
| Q3 25 | $406.4M | $7.1B | ||
| Q2 25 | $391.1M | $7.1B | ||
| Q1 25 | $390.0M | $6.9B | ||
| Q4 24 | $315.3M | $6.9B | ||
| Q3 24 | $307.4M | $6.8B | ||
| Q2 24 | $298.0M | $6.8B | ||
| Q1 24 | $286.8M | $6.7B |
负债/权益比PDFSSAFE
| Q4 25 | 0.25× | 1.90× | ||
| Q3 25 | 0.26× | 1.89× | ||
| Q2 25 | 0.26× | 1.87× | ||
| Q1 25 | 0.28× | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $17.3M | $47.8M |
| 自由现金流经营现金流 - 资本支出 | $7.5M | — |
| 自由现金流率自由现金流/营收 | 12.1% | — |
| 资本支出强度资本支出/营收 | 15.7% | — |
| 现金转化率经营现金流/净利润 | — | 1.72× |
| 过去12个月自由现金流最近4个季度 | $-8.6M | — |
8季度趋势，按日历期对齐
经营现金流PDFSSAFE
| Q4 25 | $17.3M | $47.8M | ||
| Q3 25 | $3.3M | $-1.4M | ||
| Q2 25 | $-5.2M | $28.0M | ||
| Q1 25 | $8.6M | $8.9M | ||
| Q4 24 | $1.6M | $37.9M | ||
| Q3 24 | $9.3M | $8.3M | ||
| Q2 24 | $684.0K | $24.8M | ||
| Q1 24 | $-1.9M | $-3.1M |
自由现金流PDFSSAFE
| Q4 25 | $7.5M | — | ||
| Q3 25 | $-2.9M | — | ||
| Q2 25 | $-13.8M | — | ||
| Q1 25 | $535.0K | — | ||
| Q4 24 | $-4.0M | — | ||
| Q3 24 | $5.1M | — | ||
| Q2 24 | $-4.6M | — | ||
| Q1 24 | $-3.9M | — |
自由现金流率PDFSSAFE
| Q4 25 | 12.1% | — | ||
| Q3 25 | -5.1% | — | ||
| Q2 25 | -26.6% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | -8.0% | — | ||
| Q3 24 | 11.0% | — | ||
| Q2 24 | -11.1% | — | ||
| Q1 24 | -9.4% | — |
资本支出强度PDFSSAFE
| Q4 25 | 15.7% | — | ||
| Q3 25 | 10.8% | — | ||
| Q2 25 | 16.5% | — | ||
| Q1 25 | 17.0% | — | ||
| Q4 24 | 11.3% | — | ||
| Q3 24 | 9.0% | — | ||
| Q2 24 | 12.8% | — | ||
| Q1 24 | 4.9% | — |
现金转化率PDFSSAFE
| Q4 25 | — | 1.72× | ||
| Q3 25 | 2.54× | -0.05× | ||
| Q2 25 | -4.55× | 1.00× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | 2.98× | 1.45× | ||
| Q3 24 | 4.20× | 0.43× | ||
| Q2 24 | 0.40× | 0.83× | ||
| Q1 24 | — | -0.10× |
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
PDFS
| Volumebased | $38.0M | 61% |
| Other | $24.4M | 39% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
