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PIPER SANDLER COMPANIES（PIPR）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是PIPER SANDLER COMPANIES的1.9倍（$1.3B vs $667.0M），PIPER SANDLER COMPANIES净利率更高（17.1% vs -63.1%，领先80.2%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs -25.8%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs 3.3%）
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
PIPR vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.9倍
$667.0M
营收增速更快
PIPR
高出63.3%
-25.8%
净利率更高
PIPR
高出80.2%
-63.1%
两年增速更快
PIPR
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $667.0M | $1.3B |
| 净利润 | $114.0M | $-811.0M |
| 毛利率 | — | 9.3% |
| 营业利润率 | 28.3% | -64.8% |
| 净利率 | 17.1% | -63.1% |
| 营收同比 | 37.4% | -25.8% |
| 净利润同比 | 65.0% | -9.0% |
| 每股收益（稀释后） | $6.41 | $-0.66 |
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PIPRRIVN
| Q4 25 | $667.0M | $1.3B | ||
| Q3 25 | $480.1M | $1.6B | ||
| Q2 25 | $398.6M | $1.3B | ||
| Q1 25 | $358.6M | $1.2B | ||
| Q4 24 | $485.4M | $1.7B | ||
| Q3 24 | $360.9M | $874.0M | ||
| Q2 24 | $340.8M | $1.2B | ||
| Q1 24 | $344.4M | $1.2B |
净利润PIPRRIVN
| Q4 25 | $114.0M | $-811.0M | ||
| Q3 25 | $60.3M | $-1.2B | ||
| Q2 25 | $42.2M | $-1.1B | ||
| Q1 25 | $64.9M | $-545.0M | ||
| Q4 24 | $69.1M | $-744.0M | ||
| Q3 24 | $34.8M | $-1.1B | ||
| Q2 24 | $34.8M | $-1.5B | ||
| Q1 24 | $42.5M | $-1.4B |
毛利率PIPRRIVN
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | -15.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | — | -44.9% | ||
| Q2 24 | — | -38.9% | ||
| Q1 24 | — | -43.8% |
营业利润率PIPRRIVN
| Q4 25 | 28.3% | -64.8% | ||
| Q3 25 | 22.4% | -63.1% | ||
| Q2 25 | 12.3% | -85.5% | ||
| Q1 25 | 8.2% | -52.8% | ||
| Q4 24 | 16.9% | -38.1% | ||
| Q3 24 | 15.4% | -133.8% | ||
| Q2 24 | 8.3% | -118.7% | ||
| Q1 24 | 15.2% | -123.3% |
净利率PIPRRIVN
| Q4 25 | 17.1% | -63.1% | ||
| Q3 25 | 12.6% | -75.3% | ||
| Q2 25 | 10.6% | -85.7% | ||
| Q1 25 | 18.1% | -44.0% | ||
| Q4 24 | 14.2% | -42.9% | ||
| Q3 24 | 9.6% | -125.9% | ||
| Q2 24 | 10.2% | -125.8% | ||
| Q1 24 | 12.3% | -120.1% |
每股收益（稀释后）PIPRRIVN
| Q4 25 | $6.41 | $-0.66 | ||
| Q3 25 | $3.38 | $-0.96 | ||
| Q2 25 | $2.38 | $-0.97 | ||
| Q1 25 | $3.65 | $-0.48 | ||
| Q4 24 | $3.88 | $-0.67 | ||
| Q3 24 | $1.96 | $-1.08 | ||
| Q2 24 | $1.97 | $-1.46 | ||
| Q1 24 | $2.43 | $-1.48 |
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 | — | $6.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $4.6B |
| 总资产 | $2.6B | $14.9B |
| 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PIPRRIVN
| Q4 25 | — | $6.1B | ||
| Q3 25 | — | $7.1B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | — | $7.2B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | — | $6.7B | ||
| Q2 24 | — | $7.9B | ||
| Q1 24 | — | $7.9B |
总债务PIPRRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益PIPRRIVN
| Q4 25 | $1.4B | $4.6B | ||
| Q3 25 | $1.3B | $5.1B | ||
| Q2 25 | $1.2B | $6.1B | ||
| Q1 25 | $1.2B | $6.2B | ||
| Q4 24 | $1.2B | $6.6B | ||
| Q3 24 | $1.2B | $5.9B | ||
| Q2 24 | $1.1B | $6.8B | ||
| Q1 24 | $1.1B | $8.1B |
总资产PIPRRIVN
| Q4 25 | $2.6B | $14.9B | ||
| Q3 25 | $2.2B | $15.2B | ||
| Q2 25 | $2.0B | $15.6B | ||
| Q1 25 | $1.8B | $15.5B | ||
| Q4 24 | $2.3B | $15.4B | ||
| Q3 24 | $2.0B | $14.3B | ||
| Q2 24 | $1.9B | $15.4B | ||
| Q1 24 | $1.8B | $15.7B |
负债/权益比PIPRRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $729.8M | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-1.1B |
| 自由现金流率自由现金流/营收 | — | -89.0% |
| 资本支出强度资本支出/营收 | — | 36.0% |
| 现金转化率经营现金流/净利润 | 6.40× | — |
| 过去12个月自由现金流最近4个季度 | — | $-2.5B |
8季度趋势，按日历期对齐
经营现金流PIPRRIVN
| Q4 25 | $729.8M | $-681.0M | ||
| Q3 25 | $31.9M | $26.0M | ||
| Q2 25 | $32.1M | $64.0M | ||
| Q1 25 | $-207.2M | $-188.0M | ||
| Q4 24 | $163.8M | $1.2B | ||
| Q3 24 | $80.1M | $-876.0M | ||
| Q2 24 | $266.5M | $-754.0M | ||
| Q1 24 | $-197.2M | $-1.3B |
自由现金流PIPRRIVN
| Q4 25 | — | $-1.1B | ||
| Q3 25 | — | $-421.0M | ||
| Q2 25 | — | $-398.0M | ||
| Q1 25 | — | $-526.0M | ||
| Q4 24 | — | $856.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-1.0B | ||
| Q1 24 | — | $-1.5B |
自由现金流率PIPRRIVN
| Q4 25 | — | -89.0% | ||
| Q3 25 | — | -27.0% | ||
| Q2 25 | — | -30.5% | ||
| Q1 25 | — | -42.4% | ||
| Q4 24 | — | 49.4% | ||
| Q3 24 | — | -131.9% | ||
| Q2 24 | — | -89.6% | ||
| Q1 24 | — | -126.5% |
资本支出强度PIPRRIVN
| Q4 25 | — | 36.0% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 35.5% | ||
| Q1 25 | — | 27.3% | ||
| Q4 24 | — | 18.9% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 24.4% | ||
| Q1 24 | — | 21.1% |
现金转化率PIPRRIVN
| Q4 25 | 6.40× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.76× | — | ||
| Q1 25 | -3.19× | — | ||
| Q4 24 | 2.37× | — | ||
| Q3 24 | 2.30× | — | ||
| Q2 24 | 7.66× | — | ||
| Q1 24 | -4.64× | — |
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
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
