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Pagaya Technologies Ltd.（PGY）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Pagaya Technologies Ltd.的1.9倍（$622.0M vs $321.0M），Royalty Pharma plc净利率更高（34.4% vs 10.7%，领先23.8%），Pagaya Technologies Ltd.同比增速更快（16.5% vs 4.8%），过去两年Pagaya Technologies Ltd.的营收复合增速更高（16.4% vs 4.6%）
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。
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。
PGY vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.9倍
$321.0M
营收增速更快
PGY
高出11.7%
4.8%
净利率更高
RPRX
高出23.8%
10.7%
两年增速更快
PGY
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $321.0M | $622.0M |
| 净利润 | $34.3M | $214.2M |
| 毛利率 | 40.8% | — |
| 营业利润率 | 24.8% | 62.4% |
| 净利率 | 10.7% | 34.4% |
| 营收同比 | 16.5% | 4.8% |
| 净利润同比 | 114.4% | 2.9% |
| 每股收益（稀释后） | $0.40 | $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PGYRPRX
| Q4 25 | $321.0M | $622.0M | ||
| Q3 25 | $339.9M | $609.3M | ||
| Q2 25 | $317.7M | $578.7M | ||
| Q1 25 | $282.7M | $568.2M | ||
| Q4 24 | $275.7M | $593.6M | ||
| Q3 24 | $249.3M | $564.7M | ||
| Q2 24 | $242.6M | $537.3M | ||
| Q1 24 | $237.0M | $568.0M |
净利润PGYRPRX
| Q4 25 | $34.3M | $214.2M | ||
| Q3 25 | $22.5M | $288.2M | ||
| Q2 25 | $16.7M | $30.2M | ||
| Q1 25 | $7.9M | $238.3M | ||
| Q4 24 | $-237.9M | $208.2M | ||
| Q3 24 | $-67.5M | $544.0M | ||
| Q2 24 | $-74.8M | $102.0M | ||
| Q1 24 | $-21.2M | $4.8M |
毛利率PGYRPRX
| Q4 25 | 40.8% | — | ||
| Q3 25 | 41.0% | — | ||
| Q2 25 | 39.7% | — | ||
| Q1 25 | 40.9% | — | ||
| Q4 24 | 42.6% | — | ||
| Q3 24 | 40.2% | — | ||
| Q2 24 | 40.0% | — | ||
| Q1 24 | 38.9% | — |
营业利润率PGYRPRX
| Q4 25 | 24.8% | 62.4% | ||
| Q3 25 | 23.5% | 70.1% | ||
| Q2 25 | 17.8% | 36.3% | ||
| Q1 25 | 16.9% | 94.0% | ||
| Q4 24 | 11.5% | 60.9% | ||
| Q3 24 | 9.0% | — | ||
| Q2 24 | 2.1% | 50.2% | ||
| Q1 24 | 3.2% | -13.0% |
净利率PGYRPRX
| Q4 25 | 10.7% | 34.4% | ||
| Q3 25 | 6.6% | 47.3% | ||
| Q2 25 | 5.2% | 5.2% | ||
| Q1 25 | 2.8% | 41.9% | ||
| Q4 24 | -86.3% | 35.1% | ||
| Q3 24 | -27.1% | 96.3% | ||
| Q2 24 | -30.8% | 19.0% | ||
| Q1 24 | -9.0% | 0.8% |
每股收益（稀释后）PGYRPRX
| Q4 25 | $0.40 | $0.49 | ||
| Q3 25 | $0.23 | $0.67 | ||
| Q2 25 | $0.20 | $0.07 | ||
| Q1 25 | $0.10 | $0.55 | ||
| Q4 24 | $-3.36 | $0.46 | ||
| Q3 24 | $-0.93 | $1.21 | ||
| Q2 24 | $-1.04 | $0.23 | ||
| Q1 24 | $-0.33 | $0.01 |
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 | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $480.0M | $9.7B |
| 总资产 | $1.5B | $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PGYRPRX
| Q4 25 | $235.3M | $618.7M | ||
| Q3 25 | $218.3M | $938.9M | ||
| Q2 25 | $183.0M | $631.9M | ||
| Q1 25 | $186.8M | $1.1B | ||
| Q4 24 | $187.9M | $929.0M | ||
| Q3 24 | $147.1M | $950.1M | ||
| Q2 24 | $233.6M | $1.8B | ||
| Q1 24 | $274.5M | $843.0M |
总债务PGYRPRX
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | $317.9M | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | $230.2M | $7.6B | ||
| Q2 24 | $232.6M | $7.6B | ||
| Q1 24 | $235.0M | $6.1B |
股东权益PGYRPRX
| Q4 25 | $480.0M | $9.7B | ||
| Q3 25 | $438.3M | $9.6B | ||
| Q2 25 | $366.8M | $9.5B | ||
| Q1 25 | $335.5M | $9.8B | ||
| Q4 24 | $326.5M | $10.3B | ||
| Q3 24 | $462.3M | $10.3B | ||
| Q2 24 | $526.0M | $9.8B | ||
| Q1 24 | $626.8M | $9.9B |
总资产PGYRPRX
| Q4 25 | $1.5B | $19.6B | ||
| Q3 25 | $1.5B | $19.3B | ||
| Q2 25 | $1.4B | $18.3B | ||
| Q1 25 | $1.3B | $17.6B | ||
| Q4 24 | $1.3B | $18.2B | ||
| Q3 24 | $1.4B | $18.0B | ||
| Q2 24 | $1.5B | $17.7B | ||
| Q1 24 | $1.5B | $16.1B |
负债/权益比PGYRPRX
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | 0.95× | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | 0.50× | 0.74× | ||
| Q2 24 | 0.44× | 0.78× | ||
| Q1 24 | 0.37× | 0.62× |
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 | $827.1M |
| 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× | 3.86× |
| 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PGYRPRX
| Q4 25 | $79.8M | $827.1M | ||
| Q3 25 | $67.0M | $702.6M | ||
| Q2 25 | $57.4M | $364.0M | ||
| Q1 25 | $34.4M | $596.1M | ||
| Q4 24 | $27.9M | $742.5M | ||
| Q3 24 | $-7.1M | $703.6M | ||
| Q2 24 | $9.3M | $658.2M | ||
| Q1 24 | $17.7M | $664.6M |
自由现金流PGYRPRX
| Q4 25 | $76.7M | — | ||
| Q3 25 | $63.8M | — | ||
| Q2 25 | $53.5M | — | ||
| Q1 25 | $30.7M | — | ||
| Q4 24 | $23.9M | — | ||
| Q3 24 | $-11.3M | — | ||
| Q2 24 | $4.9M | — | ||
| Q1 24 | $12.6M | — |
自由现金流率PGYRPRX
| Q4 25 | 23.9% | — | ||
| Q3 25 | 18.8% | — | ||
| Q2 25 | 16.9% | — | ||
| Q1 25 | 10.8% | — | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | -4.6% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 5.3% | — |
资本支出强度PGYRPRX
| Q4 25 | 1.0% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 1.2% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 2.2% | — |
现金转化率PGYRPRX
| Q4 25 | 2.33× | 3.86× | ||
| Q3 25 | 2.97× | 2.44× | ||
| Q2 25 | 3.44× | 12.06× | ||
| Q1 25 | 4.36× | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 6.45× | ||
| Q1 24 | — | 139.10× |
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
PGY
| Network AI Fees | $287.4M | 90% |
| Financial Service | $33.6M | 10% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
