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Pagaya Technologies Ltd.（PGY）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
Pagaya Technologies Ltd.的季度营收约是Ribbon Communications Inc.的2.0倍（$321.0M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs 10.7%，领先44.1%），Pagaya Technologies Ltd.同比增速更快（16.5% vs -10.3%），过去两年Pagaya Technologies Ltd.的营收复合增速更高（16.4% vs -8.1%）
Pagaya Technologies是一家以纽约为总部的以美金融科技企业，专注于运用人工智能技术评估贷款申请，推动信贷审核流程现代化。该公司2022年于纽约证券交易所上市，截至2024年，已累计评估约2.6万亿美元规模的贷款申请，促成的贷款总额约达280亿美元，核心客户以银行等金融机构为主。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
PGY vs RBBN — 直观对比
营收规模更大
PGY
是对方的2.0倍
$162.6M
营收增速更快
PGY
高出26.8%
-10.3%
净利率更高
RBBN
高出44.1%
10.7%
两年增速更快
PGY
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $321.0M | $162.6M |
| 净利润 | $34.3M | $89.1M |
| 毛利率 | 40.8% | 42.9% |
| 营业利润率 | 24.8% | — |
| 净利率 | 10.7% | 54.8% |
| 营收同比 | 16.5% | -10.3% |
| 净利润同比 | 114.4% | — |
| 每股收益（稀释后） | $0.40 | $0.50 |
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PGYRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $321.0M | $227.3M | ||
| Q3 25 | $339.9M | $215.4M | ||
| Q2 25 | $317.7M | $220.6M | ||
| Q1 25 | $282.7M | $181.3M | ||
| Q4 24 | $275.7M | $251.4M | ||
| Q3 24 | $249.3M | $210.2M | ||
| Q2 24 | $242.6M | $192.6M |
净利润PGYRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $34.3M | — | ||
| Q3 25 | $22.5M | $-12.1M | ||
| Q2 25 | $16.7M | $-11.1M | ||
| Q1 25 | $7.9M | $-26.2M | ||
| Q4 24 | $-237.9M | — | ||
| Q3 24 | $-67.5M | $-13.4M | ||
| Q2 24 | $-74.8M | $-16.8M |
毛利率PGYRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | 40.8% | 53.3% | ||
| Q3 25 | 41.0% | 50.1% | ||
| Q2 25 | 39.7% | 49.6% | ||
| Q1 25 | 40.9% | 45.4% | ||
| Q4 24 | 42.6% | 55.7% | ||
| Q3 24 | 40.2% | 52.1% | ||
| Q2 24 | 40.0% | 50.8% |
营业利润率PGYRBBN
| Q1 26 | — | — | ||
| Q4 25 | 24.8% | 4.1% | ||
| Q3 25 | 23.5% | 1.3% | ||
| Q2 25 | 17.8% | 1.9% | ||
| Q1 25 | 16.9% | -10.8% | ||
| Q4 24 | 11.5% | 13.2% | ||
| Q3 24 | 9.0% | -0.4% | ||
| Q2 24 | 2.1% | -1.0% |
净利率PGYRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | 10.7% | — | ||
| Q3 25 | 6.6% | -5.6% | ||
| Q2 25 | 5.2% | -5.0% | ||
| Q1 25 | 2.8% | -14.5% | ||
| Q4 24 | -86.3% | — | ||
| Q3 24 | -27.1% | -6.4% | ||
| Q2 24 | -30.8% | -8.7% |
每股收益（稀释后）PGYRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $0.40 | $0.50 | ||
| Q3 25 | $0.23 | $-0.07 | ||
| Q2 25 | $0.20 | $-0.06 | ||
| Q1 25 | $0.10 | $-0.15 | ||
| Q4 24 | $-3.36 | $0.05 | ||
| Q3 24 | $-0.93 | $-0.08 | ||
| Q2 24 | $-1.04 | $-0.10 |
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 | $235.3M | $67.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $480.0M | $419.1M |
| 总资产 | $1.5B | — |
| 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PGYRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $235.3M | $96.4M | ||
| Q3 25 | $218.3M | $74.8M | ||
| Q2 25 | $183.0M | $60.5M | ||
| Q1 25 | $186.8M | $71.2M | ||
| Q4 24 | $187.9M | $87.8M | ||
| Q3 24 | $147.1M | $37.2M | ||
| Q2 24 | $233.6M | $64.6M |
总债务PGYRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | $342.1M | ||
| Q3 25 | — | $344.3M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | $317.9M | $347.4M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | $230.2M | $349.1M | ||
| Q2 24 | $232.6M | $350.0M |
股东权益PGYRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $480.0M | $449.0M | ||
| Q3 25 | $438.3M | $360.1M | ||
| Q2 25 | $366.8M | $370.4M | ||
| Q1 25 | $335.5M | $381.8M | ||
| Q4 24 | $326.5M | $404.6M | ||
| Q3 24 | $462.3M | $395.5M | ||
| Q2 24 | $526.0M | $405.0M |
总资产PGYRBBN
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.4B | $1.1B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.5B | $1.1B |
负债/权益比PGYRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | 0.95× | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | 0.50× | 0.88× | ||
| Q2 24 | 0.44× | 0.86× |
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 | $79.8M | — |
| 自由现金流经营现金流 - 资本支出 | $76.7M | — |
| 自由现金流率自由现金流/营收 | 23.9% | — |
| 资本支出强度资本支出/营收 | 1.0% | — |
| 现金转化率经营现金流/净利润 | 2.33× | — |
| 过去12个月自由现金流最近4个季度 | $224.7M | — |
8季度趋势，按日历期对齐
经营现金流PGYRBBN
| Q1 26 | — | — | ||
| Q4 25 | $79.8M | $29.2M | ||
| Q3 25 | $67.0M | $26.5M | ||
| Q2 25 | $57.4M | $-795.0K | ||
| Q1 25 | $34.4M | $-3.5M | ||
| Q4 24 | $27.9M | $61.8M | ||
| Q3 24 | $-7.1M | $-14.8M | ||
| Q2 24 | $9.3M | $-9.8M |
自由现金流PGYRBBN
| Q1 26 | — | — | ||
| Q4 25 | $76.7M | $27.3M | ||
| Q3 25 | $63.8M | $21.0M | ||
| Q2 25 | $53.5M | $-6.5M | ||
| Q1 25 | $30.7M | $-15.7M | ||
| Q4 24 | $23.9M | $53.8M | ||
| Q3 24 | $-11.3M | $-23.7M | ||
| Q2 24 | $4.9M | $-12.9M |
自由现金流率PGYRBBN
| Q1 26 | — | — | ||
| Q4 25 | 23.9% | 12.0% | ||
| Q3 25 | 18.8% | 9.7% | ||
| Q2 25 | 16.9% | -2.9% | ||
| Q1 25 | 10.8% | -8.7% | ||
| Q4 24 | 8.7% | 21.4% | ||
| Q3 24 | -4.6% | -11.3% | ||
| Q2 24 | 2.0% | -6.7% |
资本支出强度PGYRBBN
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 0.9% | ||
| Q3 25 | 1.0% | 2.6% | ||
| Q2 25 | 1.2% | 2.6% | ||
| Q1 25 | 1.3% | 6.7% | ||
| Q4 24 | 1.4% | 3.2% | ||
| Q3 24 | 1.7% | 4.2% | ||
| Q2 24 | 1.8% | 1.6% |
现金转化率PGYRBBN
| Q1 26 | — | — | ||
| Q4 25 | 2.33× | — | ||
| Q3 25 | 2.97× | — | ||
| Q2 25 | 3.44× | — | ||
| Q1 25 | 4.36× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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
PGY
| Network AI Fees | $287.4M | 90% |
| Financial Service | $33.6M | 10% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
