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Phathom Pharmaceuticals, Inc.（PHAT）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
Repay Holdings Corp的季度营收约是Phathom Pharmaceuticals, Inc.的1.4倍（$78.6M vs $57.6M），Phathom Pharmaceuticals, Inc.同比增速更快（94.1% vs 0.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $-167.0M）
Phathom Pharmaceuticals是一家临床阶段生物制药公司，专注于研发和商业化胃肠道疾病的创新疗法，其核心候选产品针对酸相关疾病、炎症性肠病等适应症，主要服务北美及欧洲地区的患者群体。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
PHAT vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.4倍
$57.6M
营收增速更快
PHAT
高出93.7%
0.4%
自由现金流更多
RPAY
多$190.2M
$-167.0M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $57.6M | $78.6M |
| 净利润 | — | $-140.1M |
| 毛利率 | 86.7% | 74.2% |
| 营业利润率 | — | -182.2% |
| 净利率 | — | -178.3% |
| 营收同比 | 94.1% | 0.4% |
| 净利润同比 | 71.6% | -3304.1% |
| 每股收益（稀释后） | — | $-1.68 |
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PHATRPAY
| Q4 25 | $57.6M | $78.6M | ||
| Q3 25 | $49.5M | $77.7M | ||
| Q2 25 | $39.5M | $75.6M | ||
| Q1 25 | $28.5M | $77.3M | ||
| Q4 24 | $29.7M | $78.3M | ||
| Q3 24 | $16.4M | $79.1M | ||
| Q2 24 | $7.3M | $74.9M | ||
| Q1 24 | — | $80.7M |
净利润PHATRPAY
| Q4 25 | — | $-140.1M | ||
| Q3 25 | $-30.0M | $-6.4M | ||
| Q2 25 | $-75.8M | $-102.3M | ||
| Q1 25 | $-94.3M | $-7.9M | ||
| Q4 24 | — | $-4.1M | ||
| Q3 24 | $-85.6M | $3.2M | ||
| Q2 24 | $-91.4M | $-4.1M | ||
| Q1 24 | — | $-5.2M |
毛利率PHATRPAY
| Q4 25 | 86.7% | 74.2% | ||
| Q3 25 | 87.5% | 74.4% | ||
| Q2 25 | 87.2% | 75.7% | ||
| Q1 25 | 86.9% | 75.9% | ||
| Q4 24 | 87.1% | 76.3% | ||
| Q3 24 | 85.6% | 77.8% | ||
| Q2 24 | 81.2% | 78.2% | ||
| Q1 24 | — | 76.2% |
营业利润率PHATRPAY
| Q4 25 | — | -182.2% | ||
| Q3 25 | -30.8% | -3.9% | ||
| Q2 25 | -151.7% | -138.7% | ||
| Q1 25 | -276.5% | -4.7% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | -433.0% | -0.9% | ||
| Q2 24 | -1055.4% | -4.6% | ||
| Q1 24 | — | -3.1% |
净利率PHATRPAY
| Q4 25 | — | -178.3% | ||
| Q3 25 | -60.5% | -8.3% | ||
| Q2 25 | -191.9% | -135.2% | ||
| Q1 25 | -330.7% | -10.3% | ||
| Q4 24 | — | -5.3% | ||
| Q3 24 | -523.3% | 4.1% | ||
| Q2 24 | -1248.6% | -5.4% | ||
| Q1 24 | — | -6.5% |
每股收益（稀释后）PHATRPAY
| Q4 25 | — | $-1.68 | ||
| Q3 25 | $-0.41 | $-0.08 | ||
| Q2 25 | $-1.05 | $-1.15 | ||
| Q1 25 | $-1.31 | $-0.09 | ||
| Q4 24 | — | $-0.04 | ||
| Q3 24 | $-1.32 | $0.03 | ||
| Q2 24 | $-1.56 | $-0.04 | ||
| Q1 24 | — | $-0.06 |
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 | $130.0M | $115.7M |
| 总债务越低越好 | $209.1M | $280.1M |
| 股东权益账面价值 | $-438.2M | $484.4M |
| 总资产 | $259.1M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资PHATRPAY
| Q4 25 | $130.0M | $115.7M | ||
| Q3 25 | $135.2M | $95.7M | ||
| Q2 25 | $149.6M | $162.6M | ||
| Q1 25 | $212.3M | $165.5M | ||
| Q4 24 | $297.3M | $189.5M | ||
| Q3 24 | $334.7M | $168.7M | ||
| Q2 24 | $276.2M | $147.1M | ||
| Q1 24 | — | $128.3M |
总债务PHATRPAY
| Q4 25 | $209.1M | $280.1M | ||
| Q3 25 | $207.1M | $279.5M | ||
| Q2 25 | $205.1M | $279.0M | ||
| Q1 25 | $203.2M | $497.6M | ||
| Q4 24 | $201.4M | $496.8M | ||
| Q3 24 | $175.7M | $496.2M | ||
| Q2 24 | $174.4M | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益PHATRPAY
| Q4 25 | $-438.2M | $484.4M | ||
| Q3 25 | $-422.5M | $616.9M | ||
| Q2 25 | $-405.8M | $633.7M | ||
| Q1 25 | $-338.4M | $755.7M | ||
| Q4 24 | $-253.6M | $761.3M | ||
| Q3 24 | $-187.1M | $754.7M | ||
| Q2 24 | $-233.8M | $815.4M | ||
| Q1 24 | — | $813.8M |
总资产PHATRPAY
| Q4 25 | $259.1M | $1.2B | ||
| Q3 25 | $240.3M | $1.3B | ||
| Q2 25 | $250.2M | $1.4B | ||
| Q1 25 | $294.2M | $1.5B | ||
| Q4 24 | $378.3M | $1.6B | ||
| Q3 24 | $387.0M | $1.6B | ||
| Q2 24 | $319.4M | $1.5B | ||
| Q1 24 | — | $1.5B |
负债/权益比PHATRPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $-166.8M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-167.0M | $23.2M |
| 自由现金流率自由现金流/营收 | -290.0% | 29.6% |
| 资本支出强度资本支出/营收 | 0.4% | 0.1% |
| 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 | $-328.9M | $90.7M |
8季度趋势，按日历期对齐
经营现金流PHATRPAY
| Q4 25 | $-166.8M | $23.3M | ||
| Q3 25 | $-14.1M | $32.2M | ||
| Q2 25 | $-62.7M | $33.1M | ||
| Q1 25 | $-84.9M | $2.5M | ||
| Q4 24 | $-266.8M | $34.3M | ||
| Q3 24 | $-63.6M | $60.1M | ||
| Q2 24 | $-70.7M | $31.0M | ||
| Q1 24 | — | $24.8M |
自由现金流PHATRPAY
| Q4 25 | $-167.0M | $23.2M | ||
| Q3 25 | $-14.1M | $32.1M | ||
| Q2 25 | $-62.8M | $33.0M | ||
| Q1 25 | $-84.9M | $2.4M | ||
| Q4 24 | $-266.9M | $34.0M | ||
| Q3 24 | $-63.6M | $59.8M | ||
| Q2 24 | $-70.8M | $30.5M | ||
| Q1 24 | — | $24.7M |
自由现金流率PHATRPAY
| Q4 25 | -290.0% | 29.6% | ||
| Q3 25 | -28.6% | 41.3% | ||
| Q2 25 | -159.0% | 43.6% | ||
| Q1 25 | -297.9% | 3.0% | ||
| Q4 24 | -899.8% | 43.5% | ||
| Q3 24 | -389.0% | 75.6% | ||
| Q2 24 | -966.2% | 40.7% | ||
| Q1 24 | — | 30.6% |
资本支出强度PHATRPAY
| Q4 25 | 0.4% | 0.1% | ||
| Q3 25 | 0.1% | 0.2% | ||
| Q2 25 | 0.2% | 0.1% | ||
| Q1 25 | 0.1% | 0.2% | ||
| Q4 24 | 0.5% | 0.3% | ||
| Q3 24 | 0.3% | 0.3% | ||
| Q2 24 | 0.6% | 0.6% | ||
| Q1 24 | — | 0.1% |
现金转化率PHATRPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| 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
PHAT
暂无分部数据
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
