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PEGASYSTEMS INC（PEGA）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Royalty Pharma plc的季度营收约是PEGASYSTEMS INC的1.4倍（$622.0M vs $430.0M），Royalty Pharma plc净利率更高（34.4% vs 7.6%，领先26.8%），Royalty Pharma plc同比增速更快（4.8% vs -9.6%），过去两年PEGASYSTEMS INC的营收复合增速更高（10.7% vs 4.6%）
Pegasystems Inc.（简称Pega）是1983年成立的全球软件企业，总部位于美国马萨诸塞州沃尔瑟姆，1996年于纳斯达克上市，股票代码PEGA。公司主打低代码平台，面向企业客户提供工作流自动化、生成式AI驱动决策等相关解决方案。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
PEGA vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.4倍
$430.0M
营收增速更快
RPRX
高出14.4%
-9.6%
净利率更高
RPRX
高出26.8%
7.6%
两年增速更快
PEGA
近两年复合增速
4.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $430.0M | $622.0M |
| 净利润 | $32.8M | $214.2M |
| 毛利率 | 75.2% | — |
| 营业利润率 | 8.6% | 62.4% |
| 净利率 | 7.6% | 34.4% |
| 营收同比 | -9.6% | 4.8% |
| 净利润同比 | — | 2.9% |
| 每股收益（稀释后） | $0.18 | $0.49 |
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PEGARPRX
| Q1 26 | $430.0M | — | ||
| Q4 25 | $504.3M | $622.0M | ||
| Q3 25 | $381.4M | $609.3M | ||
| Q2 25 | $384.5M | $578.7M | ||
| Q1 25 | $475.6M | $568.2M | ||
| Q4 24 | $490.8M | $593.6M | ||
| Q3 24 | $325.1M | $564.7M | ||
| Q2 24 | $351.2M | $537.3M |
净利润PEGARPRX
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | $214.2M | ||
| Q3 25 | $43.4M | $288.2M | ||
| Q2 25 | $30.1M | $30.2M | ||
| Q1 25 | $85.4M | $238.3M | ||
| Q4 24 | $119.1M | $208.2M | ||
| Q3 24 | $-14.4M | $544.0M | ||
| Q2 24 | $6.6M | $102.0M |
毛利率PEGARPRX
| Q1 26 | 75.2% | — | ||
| Q4 25 | 79.5% | — | ||
| Q3 25 | 72.2% | — | ||
| Q2 25 | 71.5% | — | ||
| Q1 25 | 78.5% | — | ||
| Q4 24 | 79.1% | — | ||
| Q3 24 | 70.2% | — | ||
| Q2 24 | 72.4% | — |
营业利润率PEGARPRX
| Q1 26 | 8.6% | — | ||
| Q4 25 | 20.7% | 62.4% | ||
| Q3 25 | 3.8% | 70.1% | ||
| Q2 25 | 4.5% | 36.3% | ||
| Q1 25 | 26.7% | 94.0% | ||
| Q4 24 | 29.1% | 60.9% | ||
| Q3 24 | -3.6% | — | ||
| Q2 24 | 3.7% | 50.2% |
净利率PEGARPRX
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | 34.4% | ||
| Q3 25 | 11.4% | 47.3% | ||
| Q2 25 | 7.8% | 5.2% | ||
| Q1 25 | 18.0% | 41.9% | ||
| Q4 24 | 24.3% | 35.1% | ||
| Q3 24 | -4.4% | 96.3% | ||
| Q2 24 | 1.9% | 19.0% |
每股收益（稀释后）PEGARPRX
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | $0.49 | ||
| Q3 25 | $0.24 | $0.67 | ||
| Q2 25 | $0.17 | $0.07 | ||
| Q1 25 | $0.91 | $0.55 | ||
| Q4 24 | $1.35 | $0.46 | ||
| Q3 24 | $-0.17 | $1.21 | ||
| Q2 24 | $0.07 | $0.23 |
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 | $270.0M | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $705.9M | $9.7B |
| 总资产 | $1.6B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资PEGARPRX
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | $618.7M | ||
| Q3 25 | $351.4M | $938.9M | ||
| Q2 25 | $411.6M | $631.9M | ||
| Q1 25 | $371.7M | $1.1B | ||
| Q4 24 | $740.0M | $929.0M | ||
| Q3 24 | $703.0M | $950.1M | ||
| Q2 24 | $665.1M | $1.8B |
总债务PEGARPRX
| Q1 26 | — | — | ||
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B |
股东权益PEGARPRX
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | $9.7B | ||
| Q3 25 | $596.8M | $9.6B | ||
| Q2 25 | $624.5M | $9.5B | ||
| Q1 25 | $611.3M | $9.8B | ||
| Q4 24 | $585.5M | $10.3B | ||
| Q3 24 | $473.0M | $10.3B | ||
| Q2 24 | $435.4M | $9.8B |
总资产PEGARPRX
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $19.6B | ||
| Q3 25 | $1.3B | $19.3B | ||
| Q2 25 | $1.3B | $18.3B | ||
| Q1 25 | $1.3B | $17.6B | ||
| Q4 24 | $1.8B | $18.2B | ||
| Q3 24 | $1.6B | $18.0B | ||
| Q2 24 | $1.5B | $17.7B |
负债/权益比PEGARPRX
| Q1 26 | — | — | ||
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× |
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 | — | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $206.5M | — |
| 自由现金流率自由现金流/营收 | 48.0% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 过去12个月自由现金流最近4个季度 | $494.9M | — |
8季度趋势，按日历期对齐
经营现金流PEGARPRX
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | $827.1M | ||
| Q3 25 | $56.3M | $702.6M | ||
| Q2 25 | $86.3M | $364.0M | ||
| Q1 25 | $204.2M | $596.1M | ||
| Q4 24 | $95.2M | $742.5M | ||
| Q3 24 | $30.5M | $703.6M | ||
| Q2 24 | $40.1M | $658.2M |
自由现金流PEGARPRX
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | — | ||
| Q3 25 | $51.8M | — | ||
| Q2 25 | $84.1M | — | ||
| Q1 25 | $202.3M | — | ||
| Q4 24 | $92.4M | — | ||
| Q3 24 | $27.4M | — | ||
| Q2 24 | $38.8M | — |
自由现金流率PEGARPRX
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | — | ||
| Q3 25 | 13.6% | — | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 42.5% | — | ||
| Q4 24 | 18.8% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | 11.1% | — |
资本支出强度PEGARPRX
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 0.4% | — |
现金转化率PEGARPRX
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | 3.86× | ||
| Q3 25 | 1.30× | 2.44× | ||
| Q2 25 | 2.87× | 12.06× | ||
| Q1 25 | 2.39× | 2.50× | ||
| Q4 24 | 0.80× | 3.57× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | 6.06× | 6.45× |
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
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
