vs
PJT Partners Inc.（PJT）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
Reddit, Inc.的季度营收约是PJT Partners Inc.的1.2倍（$663.0M vs $531.4M），Reddit, Inc.净利率更高（30.8% vs 10.0%，领先20.7%），Reddit, Inc.同比增速更快（69.0% vs 12.9%），Reddit, Inc.自由现金流更多（$311.0M vs $138.6M），过去两年Reddit, Inc.的营收复合增速更高（53.6% vs 27.5%）
PJT Partners Inc.是一家专注于顾问业务的全球投资银行，于2015年10月从黑石集团旗下拆分成立，独立运营原黑石的金融与战略咨询服务业务，为全球各类客户提供专业的投行顾问相关服务。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
PJT vs RDDT — 直观对比
营收规模更大
RDDT
是对方的1.2倍
$531.4M
营收增速更快
RDDT
高出56.1%
12.9%
净利率更高
RDDT
高出20.7%
10.0%
自由现金流更多
RDDT
多$172.4M
$138.6M
两年增速更快
RDDT
近两年复合增速
27.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $531.4M | $663.0M |
| 净利润 | $53.4M | $204.0M |
| 毛利率 | — | 100.0% |
| 营业利润率 | 23.1% | 0.0% |
| 净利率 | 10.0% | 30.8% |
| 营收同比 | 12.9% | 69.0% |
| 净利润同比 | 4.0% | 680.0% |
| 每股收益（稀释后） | — | $1.01 |
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PJTRDDT
| Q1 26 | — | $663.0M | ||
| Q4 25 | $531.4M | $725.6M | ||
| Q3 25 | $442.3M | $584.9M | ||
| Q2 25 | $401.1M | $499.6M | ||
| Q1 25 | $321.9M | $392.4M | ||
| Q4 24 | $470.5M | $427.7M | ||
| Q3 24 | $320.3M | $348.4M | ||
| Q2 24 | $358.1M | $281.2M |
净利润PJTRDDT
| Q1 26 | — | $204.0M | ||
| Q4 25 | $53.4M | $251.6M | ||
| Q3 25 | $39.8M | $162.7M | ||
| Q2 25 | $32.9M | $89.3M | ||
| Q1 25 | $54.0M | $26.2M | ||
| Q4 24 | $51.3M | $71.0M | ||
| Q3 24 | $22.1M | $29.9M | ||
| Q2 24 | $28.3M | $-10.1M |
毛利率PJTRDDT
| Q1 26 | — | 100.0% | ||
| Q4 25 | — | 91.9% | ||
| Q3 25 | — | 91.0% | ||
| Q2 25 | — | 90.8% | ||
| Q1 25 | — | 90.5% | ||
| Q4 24 | — | 92.6% | ||
| Q3 24 | — | 90.1% | ||
| Q2 24 | — | 89.5% |
营业利润率PJTRDDT
| Q1 26 | — | 0.0% | ||
| Q4 25 | 23.1% | 31.9% | ||
| Q3 25 | 20.6% | 23.7% | ||
| Q2 25 | 19.1% | 13.6% | ||
| Q1 25 | 16.3% | 1.0% | ||
| Q4 24 | 21.9% | 12.4% | ||
| Q3 24 | 15.4% | 2.0% | ||
| Q2 24 | 18.0% | -11.0% |
净利率PJTRDDT
| Q1 26 | — | 30.8% | ||
| Q4 25 | 10.0% | 34.7% | ||
| Q3 25 | 9.0% | 27.8% | ||
| Q2 25 | 8.2% | 17.9% | ||
| Q1 25 | 16.8% | 6.7% | ||
| Q4 24 | 10.9% | 16.6% | ||
| Q3 24 | 6.9% | 8.6% | ||
| Q2 24 | 7.9% | -3.6% |
每股收益（稀释后）PJTRDDT
| Q1 26 | — | $1.01 | ||
| Q4 25 | — | $1.24 | ||
| Q3 25 | — | $0.80 | ||
| Q2 25 | — | $0.45 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $4.76 | ||
| Q3 24 | — | $0.16 | ||
| Q2 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 | $538.9M | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $308.2M | $3.2B |
| 总资产 | $1.8B | $3.5B |
| 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PJTRDDT
| Q1 26 | — | $1.4B | ||
| Q4 25 | $538.9M | $953.6M | ||
| Q3 25 | $400.5M | $911.7M | ||
| Q2 25 | $214.6M | $734.1M | ||
| Q1 25 | $194.3M | $635.7M | ||
| Q4 24 | $483.9M | $562.1M | ||
| Q3 24 | $148.8M | $515.9M | ||
| Q2 24 | $164.2M | $468.0M |
股东权益PJTRDDT
| Q1 26 | — | $3.2B | ||
| Q4 25 | $308.2M | $2.9B | ||
| Q3 25 | $228.6M | $2.6B | ||
| Q2 25 | $167.4M | $2.4B | ||
| Q1 25 | $148.8M | $2.2B | ||
| Q4 24 | $187.0M | $2.1B | ||
| Q3 24 | $159.1M | $2.0B | ||
| Q2 24 | $133.8M | $1.9B |
总资产PJTRDDT
| Q1 26 | — | $3.5B | ||
| Q4 25 | $1.8B | $3.2B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.4B | $2.4B | ||
| Q4 24 | $1.6B | $2.3B | ||
| Q3 24 | $1.6B | $2.2B | ||
| Q2 24 | $1.4B | $2.1B |
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 | $155.7M | — |
| 自由现金流经营现金流 - 资本支出 | $138.6M | $311.0M |
| 自由现金流率自由现金流/营收 | 26.1% | 46.9% |
| 资本支出强度资本支出/营收 | 3.2% | — |
| 现金转化率经营现金流/净利润 | 2.92× | — |
| 过去12个月自由现金流最近4个季度 | $480.4M | $868.6M |
8季度趋势，按日历期对齐
经营现金流PJTRDDT
| Q1 26 | — | — | ||
| Q4 25 | $155.7M | $266.8M | ||
| Q3 25 | $256.1M | $185.2M | ||
| Q2 25 | $190.4M | $111.3M | ||
| Q1 25 | $-75.9M | $127.6M | ||
| Q4 24 | $195.7M | $90.0M | ||
| Q3 24 | $180.5M | $71.6M | ||
| Q2 24 | $193.6M | $28.4M |
自由现金流PJTRDDT
| Q1 26 | — | $311.0M | ||
| Q4 25 | $138.6M | $263.6M | ||
| Q3 25 | $240.9M | $183.1M | ||
| Q2 25 | $178.9M | $110.8M | ||
| Q1 25 | $-77.9M | $126.6M | ||
| Q4 24 | $195.3M | $89.2M | ||
| Q3 24 | $178.5M | $70.3M | ||
| Q2 24 | $193.0M | $27.2M |
自由现金流率PJTRDDT
| Q1 26 | — | 46.9% | ||
| Q4 25 | 26.1% | 36.3% | ||
| Q3 25 | 54.5% | 31.3% | ||
| Q2 25 | 44.6% | 22.2% | ||
| Q1 25 | -24.2% | 32.3% | ||
| Q4 24 | 41.5% | 20.8% | ||
| Q3 24 | 55.7% | 20.2% | ||
| Q2 24 | 53.9% | 9.7% |
资本支出强度PJTRDDT
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 0.4% | ||
| Q3 25 | 3.4% | 0.4% | ||
| Q2 25 | 2.9% | 0.1% | ||
| Q1 25 | 0.6% | 0.2% | ||
| Q4 24 | 0.1% | 0.2% | ||
| Q3 24 | 0.6% | 0.4% | ||
| Q2 24 | 0.1% | 0.4% |
现金转化率PJTRDDT
| Q1 26 | — | — | ||
| Q4 25 | 2.92× | 1.06× | ||
| Q3 25 | 6.43× | 1.14× | ||
| Q2 25 | 5.79× | 1.25× | ||
| Q1 25 | -1.41× | 4.88× | ||
| Q4 24 | 3.81× | 1.27× | ||
| Q3 24 | 8.15× | 2.40× | ||
| Q2 24 | 6.84× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
