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PIPER SANDLER COMPANIES（PIPR）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是PIPER SANDLER COMPANIES的1.2倍（$814.9M vs $667.0M），Ubiquiti Inc.净利率更高（28.7% vs 17.1%，领先11.6%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs 35.8%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs 28.6%）
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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
PIPR vs UI — 直观对比
营收规模更大
UI
是对方的1.2倍
$667.0M
营收增速更快
PIPR
高出1.6%
35.8%
净利率更高
UI
高出11.6%
17.1%
两年增速更快
PIPR
近两年复合增速
28.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $667.0M | $814.9M |
| 净利润 | $114.0M | $233.6M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 28.3% | 35.9% |
| 净利率 | 17.1% | 28.7% |
| 营收同比 | 37.4% | 35.8% |
| 净利润同比 | 65.0% | 70.8% |
| 每股收益（稀释后） | $6.41 | $3.86 |
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PIPRUI
| Q4 25 | $667.0M | $814.9M | ||
| Q3 25 | $480.1M | $733.8M | ||
| Q2 25 | $398.6M | $759.2M | ||
| Q1 25 | $358.6M | $664.2M | ||
| Q4 24 | $485.4M | $599.9M | ||
| Q3 24 | $360.9M | $550.3M | ||
| Q2 24 | $340.8M | $507.5M | ||
| Q1 24 | $344.4M | $493.0M |
净利润PIPRUI
| Q4 25 | $114.0M | $233.6M | ||
| Q3 25 | $60.3M | $207.9M | ||
| Q2 25 | $42.2M | $266.7M | ||
| Q1 25 | $64.9M | $180.4M | ||
| Q4 24 | $69.1M | $136.8M | ||
| Q3 24 | $34.8M | $128.0M | ||
| Q2 24 | $34.8M | $103.8M | ||
| Q1 24 | $42.5M | $76.3M |
毛利率PIPRUI
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 40.2% | ||
| Q1 24 | — | 35.3% |
营业利润率PIPRUI
| Q4 25 | 28.3% | 35.9% | ||
| Q3 25 | 22.4% | 35.7% | ||
| Q2 25 | 12.3% | 34.4% | ||
| Q1 25 | 8.2% | 34.2% | ||
| Q4 24 | 16.9% | 29.8% | ||
| Q3 24 | 15.4% | 30.7% | ||
| Q2 24 | 8.3% | 27.3% | ||
| Q1 24 | 15.2% | 22.6% |
净利率PIPRUI
| Q4 25 | 17.1% | 28.7% | ||
| Q3 25 | 12.6% | 28.3% | ||
| Q2 25 | 10.6% | 35.1% | ||
| Q1 25 | 18.1% | 27.2% | ||
| Q4 24 | 14.2% | 22.8% | ||
| Q3 24 | 9.6% | 23.3% | ||
| Q2 24 | 10.2% | 20.5% | ||
| Q1 24 | 12.3% | 15.5% |
每股收益（稀释后）PIPRUI
| Q4 25 | $6.41 | $3.86 | ||
| Q3 25 | $3.38 | $3.43 | ||
| Q2 25 | $2.38 | $4.40 | ||
| Q1 25 | $3.65 | $2.98 | ||
| Q4 24 | $3.88 | $2.26 | ||
| Q3 24 | $1.96 | $2.12 | ||
| Q2 24 | $1.97 | $1.72 | ||
| Q1 24 | $2.43 | $1.26 |
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 | — | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $1.4B | $1.0B |
| 总资产 | $2.6B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资PIPRUI
| Q4 25 | — | $302.8M | ||
| Q3 25 | — | $177.2M | ||
| Q2 25 | — | $149.7M | ||
| Q1 25 | — | $151.0M | ||
| Q4 24 | — | $133.1M | ||
| Q3 24 | — | $165.2M | ||
| Q2 24 | — | $126.3M | ||
| Q1 24 | — | $102.5M |
总债务PIPRUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益PIPRUI
| Q4 25 | $1.4B | $1.0B | ||
| Q3 25 | $1.3B | $828.4M | ||
| Q2 25 | $1.2B | $668.3M | ||
| Q1 25 | $1.2B | $436.1M | ||
| Q4 24 | $1.2B | $290.4M | ||
| Q3 24 | $1.2B | $188.1M | ||
| Q2 24 | $1.1B | $95.1M | ||
| Q1 24 | $1.1B | $25.9M |
总资产PIPRUI
| Q4 25 | $2.6B | $1.6B | ||
| Q3 25 | $2.2B | $1.5B | ||
| Q2 25 | $2.0B | $1.5B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $2.3B | $1.2B | ||
| Q3 24 | $2.0B | $1.2B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $1.8B | $1.2B |
负债/权益比PIPRUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | — | $260.3M |
| 自由现金流率自由现金流/营收 | — | 31.9% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 现金转化率经营现金流/净利润 | 6.40× | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $699.5M |
8季度趋势，按日历期对齐
经营现金流PIPRUI
| Q4 25 | $729.8M | $263.9M | ||
| Q3 25 | $31.9M | $198.5M | ||
| Q2 25 | $32.1M | $130.4M | ||
| Q1 25 | $-207.2M | $123.6M | ||
| Q4 24 | $163.8M | $152.4M | ||
| Q3 24 | $80.1M | $233.7M | ||
| Q2 24 | $266.5M | $231.4M | ||
| Q1 24 | $-197.2M | $163.9M |
自由现金流PIPRUI
| Q4 25 | — | $260.3M | ||
| Q3 25 | — | $193.3M | ||
| Q2 25 | — | $125.2M | ||
| Q1 25 | — | $120.7M | ||
| Q4 24 | — | $150.4M | ||
| Q3 24 | — | $231.1M | ||
| Q2 24 | — | $229.5M | ||
| Q1 24 | — | $160.6M |
自由现金流率PIPRUI
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 26.3% | ||
| Q2 25 | — | 16.5% | ||
| Q1 25 | — | 18.2% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | — | 42.0% | ||
| Q2 24 | — | 45.2% | ||
| Q1 24 | — | 32.6% |
资本支出强度PIPRUI
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.7% |
现金转化率PIPRUI
| Q4 25 | 6.40× | 1.13× | ||
| Q3 25 | 0.53× | 0.95× | ||
| Q2 25 | 0.76× | 0.49× | ||
| Q1 25 | -3.19× | 0.68× | ||
| Q4 24 | 2.37× | 1.11× | ||
| Q3 24 | 2.30× | 1.83× | ||
| Q2 24 | 7.66× | 2.23× | ||
| Q1 24 | -4.64× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
