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Pagaya Technologies Ltd.（PGY）与SOLAREDGE TECHNOLOGIES, INC.（SEDG）财务数据对比。点击上方公司名可切换其他公司
SOLAREDGE TECHNOLOGIES, INC.的季度营收约是Pagaya Technologies Ltd.的1.0倍（$335.4M vs $321.0M），Pagaya Technologies Ltd.净利率更高（10.7% vs -39.4%，领先50.1%），SOLAREDGE TECHNOLOGIES, INC.同比增速更快（70.9% vs 16.5%），Pagaya Technologies Ltd.自由现金流更多（$76.7M vs $43.3M），过去两年SOLAREDGE TECHNOLOGIES, INC.的营收复合增速更高（28.1% vs 16.4%）
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。
SolarEdge Technologies是一家以色列新能源科技企业，核心研发并推出了直流优化逆变器系统，该方案可提升光伏发电的能效表现，助力光伏系统实现更稳定、高效的电力转换，在全球分布式光伏领域拥有广泛的应用场景和市场认可度。
PGY vs SEDG — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $321.0M | $335.4M |
| 净利润 | $34.3M | $-132.1M |
| 毛利率 | 40.8% | 22.2% |
| 营业利润率 | 24.8% | -14.4% |
| 净利率 | 10.7% | -39.4% |
| 营收同比 | 16.5% | 70.9% |
| 净利润同比 | 114.4% | 54.0% |
| 每股收益（稀释后） | $0.40 | $-2.21 |
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
| Q4 25 | $321.0M | $335.4M | ||
| Q3 25 | $339.9M | $340.2M | ||
| Q2 25 | $317.7M | $289.4M | ||
| Q1 25 | $282.7M | $219.5M | ||
| Q4 24 | $275.7M | $196.2M | ||
| Q3 24 | $249.3M | $235.4M | ||
| Q2 24 | $242.6M | $265.4M | ||
| Q1 24 | $237.0M | $204.4M |
| Q4 25 | $34.3M | $-132.1M | ||
| Q3 25 | $22.5M | $-50.1M | ||
| Q2 25 | $16.7M | $-124.7M | ||
| Q1 25 | $7.9M | $-98.5M | ||
| Q4 24 | $-237.9M | $-287.4M | ||
| Q3 24 | $-67.5M | $-1.2B | ||
| Q2 24 | $-74.8M | $-130.8M | ||
| Q1 24 | $-21.2M | $-157.3M |
| Q4 25 | 40.8% | 22.2% | ||
| Q3 25 | 41.0% | 21.2% | ||
| Q2 25 | 39.7% | 11.1% | ||
| Q1 25 | 40.9% | 8.0% | ||
| Q4 24 | 42.6% | -57.2% | ||
| Q3 24 | 40.2% | -309.1% | ||
| Q2 24 | 40.0% | -4.1% | ||
| Q1 24 | 38.9% | -12.8% |
| Q4 25 | 24.8% | -14.4% | ||
| Q3 25 | 23.5% | -10.3% | ||
| Q2 25 | 17.8% | -39.9% | ||
| Q1 25 | 16.9% | -46.8% | ||
| Q4 24 | 11.5% | -134.4% | ||
| Q3 24 | 9.0% | -471.8% | ||
| Q2 24 | 2.1% | -60.4% | ||
| Q1 24 | 3.2% | -85.0% |
| Q4 25 | 10.7% | -39.4% | ||
| Q3 25 | 6.6% | -14.7% | ||
| Q2 25 | 5.2% | -43.1% | ||
| Q1 25 | 2.8% | -44.9% | ||
| Q4 24 | -86.3% | -146.5% | ||
| Q3 24 | -27.1% | -522.8% | ||
| Q2 24 | -30.8% | -49.3% | ||
| Q1 24 | -9.0% | -77.0% |
| Q4 25 | $0.40 | $-2.21 | ||
| Q3 25 | $0.23 | $-0.84 | ||
| Q2 25 | $0.20 | $-2.13 | ||
| Q1 25 | $0.10 | $-1.70 | ||
| Q4 24 | $-3.36 | $-5.00 | ||
| Q3 24 | $-0.93 | $-21.58 | ||
| Q2 24 | $-1.04 | $-2.31 | ||
| Q1 24 | $-0.33 | $-2.75 |
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 | $493.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $480.0M | $427.5M |
| 总资产 | $1.5B | $2.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $235.3M | $493.2M | ||
| Q3 25 | $218.3M | $498.6M | ||
| Q2 25 | $183.0M | $758.0M | ||
| Q1 25 | $186.8M | $651.6M | ||
| Q4 24 | $187.9M | $585.9M | ||
| Q3 24 | $147.1M | $678.8M | ||
| Q2 24 | $233.6M | $689.8M | ||
| Q1 24 | $274.5M | $680.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $317.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $230.2M | — | ||
| Q2 24 | $232.6M | — | ||
| Q1 24 | $235.0M | — |
| Q4 25 | $480.0M | $427.5M | ||
| Q3 25 | $438.3M | $479.8M | ||
| Q2 25 | $366.8M | $513.2M | ||
| Q1 25 | $335.5M | $594.2M | ||
| Q4 24 | $326.5M | $658.3M | ||
| Q3 24 | $462.3M | $930.9M | ||
| Q2 24 | $526.0M | $2.1B | ||
| Q1 24 | $626.8M | $2.2B |
| Q4 25 | $1.5B | $2.2B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.4B | $2.5B | ||
| Q1 25 | $1.3B | $2.5B | ||
| Q4 24 | $1.3B | $2.6B | ||
| Q3 24 | $1.4B | $2.8B | ||
| Q2 24 | $1.5B | $3.9B | ||
| Q1 24 | $1.5B | $4.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.95× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.50× | — | ||
| Q2 24 | 0.44× | — | ||
| Q1 24 | 0.37× | — |
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 | $52.6M |
| 自由现金流经营现金流 - 资本支出 | $76.7M | $43.3M |
| 自由现金流率自由现金流/营收 | 23.9% | 12.9% |
| 资本支出强度资本支出/营收 | 1.0% | 2.8% |
| 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 | $80.8M |
8季度趋势，按日历期对齐
| Q4 25 | $79.8M | $52.6M | ||
| Q3 25 | $67.0M | $25.6M | ||
| Q2 25 | $57.4M | $-7.8M | ||
| Q1 25 | $34.4M | $33.8M | ||
| Q4 24 | $27.9M | $37.8M | ||
| Q3 24 | $-7.1M | $-89.3M | ||
| Q2 24 | $9.3M | $-44.8M | ||
| Q1 24 | $17.7M | $-217.0M |
| Q4 25 | $76.7M | $43.3M | ||
| Q3 25 | $63.8M | $22.8M | ||
| Q2 25 | $53.5M | $-9.1M | ||
| Q1 25 | $30.7M | $23.7M | ||
| Q4 24 | $23.9M | $25.5M | ||
| Q3 24 | $-11.3M | $-136.7M | ||
| Q2 24 | $4.9M | $-67.0M | ||
| Q1 24 | $12.6M | $-243.4M |
| Q4 25 | 23.9% | 12.9% | ||
| Q3 25 | 18.8% | 6.7% | ||
| Q2 25 | 16.9% | -3.1% | ||
| Q1 25 | 10.8% | 10.8% | ||
| Q4 24 | 8.7% | 13.0% | ||
| Q3 24 | -4.6% | -58.1% | ||
| Q2 24 | 2.0% | -25.2% | ||
| Q1 24 | 5.3% | -119.1% |
| Q4 25 | 1.0% | 2.8% | ||
| Q3 25 | 1.0% | 0.8% | ||
| Q2 25 | 1.2% | 0.4% | ||
| Q1 25 | 1.3% | 4.6% | ||
| Q4 24 | 1.4% | 6.2% | ||
| Q3 24 | 1.7% | 20.1% | ||
| Q2 24 | 1.8% | 8.4% | ||
| Q1 24 | 2.2% | 12.9% |
| Q4 25 | 2.33× | — | ||
| Q3 25 | 2.97× | — | ||
| Q2 25 | 3.44× | — | ||
| Q1 25 | 4.36× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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% |
SEDG
| Other | $197.7M | 59% |
| Europe Except Netherlands | $99.4M | 30% |
| Others | $38.2M | 11% |
