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PDF SOLUTIONS INC（PDFS）与SHENANDOAH TELECOMMUNICATIONS CO（SHEN）财务数据对比。点击上方公司名可切换其他公司
SHENANDOAH TELECOMMUNICATIONS CO的季度营收约是PDF SOLUTIONS INC的1.5倍（$91.6M vs $62.4M），PDF SOLUTIONS INC净利率更高（-0.1% vs -5.9%，领先5.8%），PDF SOLUTIONS INC同比增速更快（24.6% vs 7.2%），PDF SOLUTIONS INC自由现金流更多（$7.5M vs $-78.6M），过去两年PDF SOLUTIONS INC的营收复合增速更高（22.9% vs 15.0%）
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。
谢南多厄电信是总部位于美国弗吉尼亚州的区域性电信服务商，面向美国中大西洋地区多州的居民及商业客户提供宽带互联网、无线通信、数字有线电视及光纤网络解决方案，重点服务乡村及城郊欠发达区域。
PDFS vs SHEN — 直观对比
营收规模更大
SHEN
是对方的1.5倍
$62.4M
营收增速更快
PDFS
高出17.4%
7.2%
净利率更高
PDFS
高出5.8%
-5.9%
自由现金流更多
PDFS
多$86.1M
$-78.6M
两年增速更快
PDFS
近两年复合增速
15.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $62.4M | $91.6M |
| 净利润 | $-48.0K | $-5.4M |
| 毛利率 | 72.9% | — |
| 营业利润率 | 5.5% | -1.0% |
| 净利率 | -0.1% | -5.9% |
| 营收同比 | 24.6% | 7.2% |
| 净利润同比 | -108.9% | -95.8% |
| 每股收益（稀释后） | $0.00 | $-0.13 |
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PDFSSHEN
| Q4 25 | $62.4M | $91.6M | ||
| Q3 25 | $57.1M | $89.8M | ||
| Q2 25 | $51.7M | $88.6M | ||
| Q1 25 | $47.8M | $87.9M | ||
| Q4 24 | $50.1M | $85.4M | ||
| Q3 24 | $46.4M | $87.6M | ||
| Q2 24 | $41.7M | $85.8M | ||
| Q1 24 | $41.3M | $69.2M |
净利润PDFSSHEN
| Q4 25 | $-48.0K | $-5.4M | ||
| Q3 25 | $1.3M | $-9.4M | ||
| Q2 25 | $1.1M | $-9.0M | ||
| Q1 25 | $-3.0M | $-9.1M | ||
| Q4 24 | $539.0K | $-2.7M | ||
| Q3 24 | $2.2M | $-5.3M | ||
| Q2 24 | $1.7M | $-12.9M | ||
| Q1 24 | $-393.0K | $214.7M |
毛利率PDFSSHEN
| Q4 25 | 72.9% | — | ||
| Q3 25 | 72.3% | — | ||
| Q2 25 | 71.2% | — | ||
| Q1 25 | 72.9% | — | ||
| Q4 24 | 68.3% | — | ||
| Q3 24 | 73.1% | — | ||
| Q2 24 | 70.6% | — | ||
| Q1 24 | 67.3% | — |
营业利润率PDFSSHEN
| Q4 25 | 5.5% | -1.0% | ||
| Q3 25 | 8.5% | -8.0% | ||
| Q2 25 | 2.2% | -10.3% | ||
| Q1 25 | -7.4% | -6.9% | ||
| Q4 24 | 1.0% | -6.7% | ||
| Q3 24 | 4.6% | -4.8% | ||
| Q2 24 | 0.6% | -18.5% | ||
| Q1 24 | -4.7% | -4.0% |
净利率PDFSSHEN
| Q4 25 | -0.1% | -5.9% | ||
| Q3 25 | 2.3% | -10.5% | ||
| Q2 25 | 2.2% | -10.2% | ||
| Q1 25 | -6.3% | -10.4% | ||
| Q4 24 | 1.1% | -3.2% | ||
| Q3 24 | 4.8% | -6.0% | ||
| Q2 24 | 4.1% | -15.0% | ||
| Q1 24 | -1.0% | 310.0% |
每股收益（稀释后）PDFSSHEN
| Q4 25 | $0.00 | $-0.13 | ||
| Q3 25 | $0.03 | $-0.20 | ||
| Q2 25 | $0.03 | $-0.19 | ||
| Q1 25 | $-0.08 | $-0.19 | ||
| Q4 24 | $0.01 | $-0.34 | ||
| Q3 24 | $0.06 | $-0.13 | ||
| Q2 24 | $0.04 | $-0.24 | ||
| Q1 24 | $-0.01 | $4.25 |
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 | $27.3M |
| 总债务越低越好 | $67.0M | $642.4M |
| 股东权益账面价值 | $271.0M | $880.8M |
| 总资产 | $418.7M | $1.9B |
| 负债/权益比越低杠杆越低 | 0.25× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资PDFSSHEN
| Q4 25 | $42.2M | $27.3M | ||
| Q3 25 | $35.9M | $22.6M | ||
| Q2 25 | $40.4M | $29.1M | ||
| Q1 25 | $54.1M | $87.5M | ||
| Q4 24 | $114.9M | $46.3M | ||
| Q3 24 | $120.2M | $43.1M | ||
| Q2 24 | $117.9M | $43.8M | ||
| Q1 24 | $122.9M | $389.7M |
总债务PDFSSHEN
| Q4 25 | $67.0M | $642.4M | ||
| Q3 25 | $67.6M | $535.4M | ||
| Q2 25 | $68.1M | $513.1M | ||
| Q1 25 | $68.7M | $515.8M | ||
| Q4 24 | — | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
股东权益PDFSSHEN
| Q4 25 | $271.0M | $880.8M | ||
| Q3 25 | $264.4M | $892.7M | ||
| Q2 25 | $257.5M | $902.0M | ||
| Q1 25 | $249.0M | $910.5M | ||
| Q4 24 | $246.0M | $918.6M | ||
| Q3 24 | $240.5M | $925.4M | ||
| Q2 24 | $232.2M | $933.1M | ||
| Q1 24 | $225.4M | $871.6M |
总资产PDFSSHEN
| Q4 25 | $418.7M | $1.9B | ||
| Q3 25 | $406.4M | $1.9B | ||
| Q2 25 | $391.1M | $1.8B | ||
| Q1 25 | $390.0M | $1.8B | ||
| Q4 24 | $315.3M | $1.7B | ||
| Q3 24 | $307.4M | $1.7B | ||
| Q2 24 | $298.0M | $1.7B | ||
| Q1 24 | $286.8M | $1.4B |
负债/权益比PDFSSHEN
| Q4 25 | 0.25× | 0.73× | ||
| Q3 25 | 0.26× | 0.60× | ||
| Q2 25 | 0.26× | 0.57× | ||
| Q1 25 | 0.28× | 0.57× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.34× |
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 | $28.8M |
| 自由现金流经营现金流 - 资本支出 | $7.5M | $-78.6M |
| 自由现金流率自由现金流/营收 | 12.1% | -85.8% |
| 资本支出强度资本支出/营收 | 15.7% | 117.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-8.6M | $-257.9M |
8季度趋势，按日历期对齐
经营现金流PDFSSHEN
| Q4 25 | $17.3M | $28.8M | ||
| Q3 25 | $3.3M | $30.7M | ||
| Q2 25 | $-5.2M | $20.9M | ||
| Q1 25 | $8.6M | $20.5M | ||
| Q4 24 | $1.6M | $20.6M | ||
| Q3 24 | $9.3M | $24.3M | ||
| Q2 24 | $684.0K | $2.5M | ||
| Q1 24 | $-1.9M | $15.2M |
自由现金流PDFSSHEN
| Q4 25 | $7.5M | $-78.6M | ||
| Q3 25 | $-2.9M | $-51.4M | ||
| Q2 25 | $-13.8M | $-65.3M | ||
| Q1 25 | $535.0K | $-62.7M | ||
| Q4 24 | $-4.0M | $-72.0M | ||
| Q3 24 | $5.1M | $-51.3M | ||
| Q2 24 | $-4.6M | $-78.3M | ||
| Q1 24 | $-3.9M | $-54.9M |
自由现金流率PDFSSHEN
| Q4 25 | 12.1% | -85.8% | ||
| Q3 25 | -5.1% | -57.2% | ||
| Q2 25 | -26.6% | -73.7% | ||
| Q1 25 | 1.1% | -71.3% | ||
| Q4 24 | -8.0% | -84.3% | ||
| Q3 24 | 11.0% | -58.5% | ||
| Q2 24 | -11.1% | -91.3% | ||
| Q1 24 | -9.4% | -79.3% |
资本支出强度PDFSSHEN
| Q4 25 | 15.7% | 117.2% | ||
| Q3 25 | 10.8% | 91.4% | ||
| Q2 25 | 16.5% | 97.3% | ||
| Q1 25 | 17.0% | 94.7% | ||
| Q4 24 | 11.3% | 108.4% | ||
| Q3 24 | 9.0% | 86.2% | ||
| Q2 24 | 12.8% | 94.2% | ||
| Q1 24 | 4.9% | 101.2% |
现金转化率PDFSSHEN
| Q4 25 | — | — | ||
| Q3 25 | 2.54× | — | ||
| Q2 25 | -4.55× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.98× | — | ||
| Q3 24 | 4.20× | — | ||
| Q2 24 | 0.40× | — | ||
| Q1 24 | — | 0.07× |
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% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
