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IMPINJ INC（PI）与维谛技术（VRT）财务数据对比。点击上方公司名可切换其他公司
维谛技术的季度营收约是IMPINJ INC的28.5倍（$2.6B vs $92.8M）。维谛技术净利率更高（14.7% vs -1.2%，领先16.0%）。维谛技术同比增速更快（30.1% vs 1.4%）。维谛技术自由现金流更多（$652.8M vs $13.6M）。过去两年维谛技术的营收复合增速更高（16.5% vs 9.9%）
Impinj Inc.是一家美国射频识别（RFID）设备及软件提供商，成立于2000年，总部位于华盛顿州西雅图，源自加州理工学院Carver Mead与Chris Diorio的研究成果。公司主营EPC Class 1 Gen 2无源超高频RFID芯片、读写器、读写器芯片、天线，以及芯片编码、业务数据采集相关的软件应用，为各行业RFID应用提供全链路产品支持。
维谛技术（Vertiv）是一家美国跨国企业，专注于为数据中心、通信网络、商业及工业场景提供关键基础设施及配套服务，旗下方案可有效保障各行业客户关键业务系统的稳定高效运行。
PI vs VRT — 直观对比
营收规模更大
VRT
是对方的28.5倍
$92.8M
营收增速更快
VRT
高出28.7%
1.4%
净利率更高
VRT
高出16.0%
-1.2%
自由现金流更多
VRT
多$639.2M
$13.6M
两年增速更快
VRT
近两年复合增速
9.9%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $92.8M | $2.6B |
| 净利润 | $-1.1M | $390.1M |
| 毛利率 | 51.8% | 37.7% |
| 营业利润率 | -2.9% | — |
| 净利率 | -1.2% | 14.7% |
| 营收同比 | 1.4% | 30.1% |
| 净利润同比 | 57.7% | 137.1% |
| 每股收益（稀释后） | $-0.02 | $0.99 |
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PIVRT
| Q1 26 | — | $2.6B | ||
| Q4 25 | $92.8M | $2.9B | ||
| Q3 25 | $96.1M | $2.7B | ||
| Q2 25 | $97.9M | $2.6B | ||
| Q1 25 | $74.3M | $2.0B | ||
| Q4 24 | $91.6M | $2.3B | ||
| Q3 24 | $95.2M | $2.1B | ||
| Q2 24 | $102.5M | $2.0B |
净利润PIVRT
| Q1 26 | — | $390.1M | ||
| Q4 25 | $-1.1M | $445.6M | ||
| Q3 25 | $-12.8M | $398.5M | ||
| Q2 25 | $11.6M | $324.2M | ||
| Q1 25 | $-8.5M | $164.5M | ||
| Q4 24 | $-2.7M | $147.0M | ||
| Q3 24 | $221.0K | $176.6M | ||
| Q2 24 | $10.0M | $178.1M |
毛利率PIVRT
| Q1 26 | — | 37.7% | ||
| Q4 25 | 51.8% | 38.9% | ||
| Q3 25 | 50.3% | 37.8% | ||
| Q2 25 | 57.8% | 34.0% | ||
| Q1 25 | 49.4% | 33.7% | ||
| Q4 24 | 50.5% | 37.1% | ||
| Q3 24 | 50.0% | 36.5% | ||
| Q2 24 | 56.1% | 38.0% |
营业利润率PIVRT
| Q1 26 | — | — | ||
| Q4 25 | -2.9% | 20.1% | ||
| Q3 25 | 0.7% | 19.3% | ||
| Q2 25 | 11.1% | 16.8% | ||
| Q1 25 | -12.9% | 14.3% | ||
| Q4 24 | -3.9% | 19.5% | ||
| Q3 24 | -0.8% | 17.9% | ||
| Q2 24 | 8.8% | 17.2% |
净利率PIVRT
| Q1 26 | — | 14.7% | ||
| Q4 25 | -1.2% | 15.5% | ||
| Q3 25 | -13.3% | 14.9% | ||
| Q2 25 | 11.8% | 12.3% | ||
| Q1 25 | -11.4% | 8.1% | ||
| Q4 24 | -2.9% | 6.3% | ||
| Q3 24 | 0.2% | 8.5% | ||
| Q2 24 | 9.7% | 9.1% |
每股收益（稀释后）PIVRT
| Q1 26 | — | $0.99 | ||
| Q4 25 | $-0.02 | $1.14 | ||
| Q3 25 | $-0.44 | $1.02 | ||
| Q2 25 | $0.39 | $0.83 | ||
| Q1 25 | $-0.30 | $0.42 | ||
| Q4 24 | $-0.06 | $0.38 | ||
| Q3 24 | $0.01 | $0.46 | ||
| Q2 24 | $0.34 | $0.46 |
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 | $175.3M | $2.5B |
| 总债务越低越好 | $280.9M | $0 |
| 股东权益账面价值 | $209.2M | $4.2B |
| 总资产 | $545.2M | $13.4B |
| 负债/权益比越低杠杆越低 | 1.34× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资PIVRT
| Q1 26 | — | $2.5B | ||
| Q4 25 | $175.3M | $1.7B | ||
| Q3 25 | $190.1M | $1.4B | ||
| Q2 25 | $193.2M | $1.6B | ||
| Q1 25 | $147.9M | $1.5B | ||
| Q4 24 | $164.7M | $1.2B | ||
| Q3 24 | $170.3M | $908.7M | ||
| Q2 24 | $220.2M | $579.7M |
总债务PIVRT
| Q1 26 | — | $0 | ||
| Q4 25 | $280.9M | $2.9B | ||
| Q3 25 | $280.4M | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | $283.5M | $2.9B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.9B |
股东权益PIVRT
| Q1 26 | — | $4.2B | ||
| Q4 25 | $209.2M | $3.9B | ||
| Q3 25 | $195.0M | $3.5B | ||
| Q2 25 | $187.7M | $3.1B | ||
| Q1 25 | $160.6M | $2.7B | ||
| Q4 24 | $149.9M | $2.4B | ||
| Q3 24 | $136.1M | $1.8B | ||
| Q2 24 | $117.0M | $1.5B |
总资产PIVRT
| Q1 26 | — | $13.4B | ||
| Q4 25 | $545.2M | $12.2B | ||
| Q3 25 | $516.5M | $10.8B | ||
| Q2 25 | $508.8M | $10.4B | ||
| Q1 25 | $479.8M | $9.5B | ||
| Q4 24 | $489.1M | $9.1B | ||
| Q3 24 | $476.4M | $8.9B | ||
| Q2 24 | $446.1M | $8.1B |
负债/权益比PIVRT
| Q1 26 | — | 0.00× | ||
| Q4 25 | 1.34× | 0.74× | ||
| Q3 25 | 1.44× | 0.83× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | 1.89× | 1.20× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 1.91× |
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 | $15.1M | — |
| 自由现金流经营现金流 - 资本支出 | $13.6M | $652.8M |
| 自由现金流率自由现金流/营收 | 14.7% | 24.6% |
| 资本支出强度资本支出/营收 | 1.6% | 4.2% |
| 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 | $45.9M | $2.3B |
8季度趋势，按日历期对齐
经营现金流PIVRT
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | $978.9M | ||
| Q3 25 | $20.9M | $508.7M | ||
| Q2 25 | $33.9M | $322.9M | ||
| Q1 25 | $-11.1M | $303.3M | ||
| Q4 24 | $12.6M | $425.2M | ||
| Q3 24 | $10.1M | $378.2M | ||
| Q2 24 | $45.5M | $378.4M |
自由现金流PIVRT
| Q1 26 | — | $652.8M | ||
| Q4 25 | $13.6M | $885.6M | ||
| Q3 25 | $18.0M | $463.5M | ||
| Q2 25 | $27.3M | $277.9M | ||
| Q1 25 | $-13.0M | $266.8M | ||
| Q4 24 | $8.5M | $364.5M | ||
| Q3 24 | $4.7M | $341.8M | ||
| Q2 24 | $44.1M | $344.3M |
自由现金流率PIVRT
| Q1 26 | — | 24.6% | ||
| Q4 25 | 14.7% | 30.8% | ||
| Q3 25 | 18.7% | 17.3% | ||
| Q2 25 | 27.9% | 10.5% | ||
| Q1 25 | -17.5% | 13.1% | ||
| Q4 24 | 9.3% | 15.5% | ||
| Q3 24 | 4.9% | 16.5% | ||
| Q2 24 | 43.0% | 17.6% |
资本支出强度PIVRT
| Q1 26 | — | 4.2% | ||
| Q4 25 | 1.6% | 3.2% | ||
| Q3 25 | 3.1% | 1.7% | ||
| Q2 25 | 6.7% | 1.7% | ||
| Q1 25 | 2.5% | 1.8% | ||
| Q4 24 | 4.5% | 2.6% | ||
| Q3 24 | 5.7% | 1.8% | ||
| Q2 24 | 1.3% | 1.7% |
现金转化率PIVRT
| Q1 26 | — | — | ||
| Q4 25 | — | 2.20× | ||
| Q3 25 | — | 1.28× | ||
| Q2 25 | 2.93× | 1.00× | ||
| Q1 25 | — | 1.84× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | 45.56× | 2.14× | ||
| Q2 24 | 4.56× | 2.12× |
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
PI
| Endpoint I Cs | $75.2M | 81% |
| Systems | $17.7M | 19% |
VRT
暂无分部数据
