vs
Planet Labs PBC（PL）与Safehold Inc.（SAFE）财务数据对比。点击上方公司名可切换其他公司
Safehold Inc.的季度营收约是Planet Labs PBC的1.2倍（$97.9M vs $81.3M），Safehold Inc.净利率更高（28.5% vs -72.8%，领先101.3%），Planet Labs PBC同比增速更快（32.6% vs 6.5%），过去两年Planet Labs PBC的营收复合增速更高（17.5% vs 2.5%）
Planet Labs PBC（常简称为Planet）是总部位于美国加利福尼亚州旧金山的上市地球影像企业，核心目标是实现全球范围的每日成像，以此监测地表变化、精准识别相关趋势，为多行业的地理数据分析需求提供可靠的数据支持。
SAFE投资有限公司是一家位于中国香港的中国主权财富基金，主要承担主权财富相关的投资运营职能，依托香港的国际金融中心优势开展相关投资业务。
PL vs SAFE — 直观对比
营收规模更大
SAFE
是对方的1.2倍
$81.3M
营收增速更快
PL
高出26.1%
6.5%
净利率更高
SAFE
高出101.3%
-72.8%
两年增速更快
PL
近两年复合增速
2.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $81.3M | $97.9M |
| 净利润 | $-59.2M | $27.9M |
| 毛利率 | 57.3% | 98.6% |
| 营业利润率 | -22.6% | 27.4% |
| 净利率 | -72.8% | 28.5% |
| 营收同比 | 32.6% | 6.5% |
| 净利润同比 | -194.7% | 7.1% |
| 每股收益（稀释后） | $-0.19 | $0.38 |
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PLSAFE
| Q4 25 | $81.3M | $97.9M | ||
| Q3 25 | $73.4M | $96.2M | ||
| Q2 25 | $66.3M | $93.8M | ||
| Q1 25 | $61.6M | $97.7M | ||
| Q4 24 | $61.3M | $91.9M | ||
| Q3 24 | $61.1M | $90.7M | ||
| Q2 24 | $60.4M | $89.9M | ||
| Q1 24 | $58.9M | $93.2M |
净利润PLSAFE
| Q4 25 | $-59.2M | $27.9M | ||
| Q3 25 | $-22.6M | $29.3M | ||
| Q2 25 | $-12.6M | $27.9M | ||
| Q1 25 | $-35.2M | $29.4M | ||
| Q4 24 | $-20.1M | $26.0M | ||
| Q3 24 | $-38.7M | $19.3M | ||
| Q2 24 | $-29.3M | $29.7M | ||
| Q1 24 | $-30.1M | $30.7M |
毛利率PLSAFE
| Q4 25 | 57.3% | 98.6% | ||
| Q3 25 | 57.6% | 98.5% | ||
| Q2 25 | 55.2% | 99.1% | ||
| Q1 25 | 62.1% | 98.8% | ||
| Q4 24 | 61.2% | 98.8% | ||
| Q3 24 | 52.9% | 98.8% | ||
| Q2 24 | 52.4% | 98.8% | ||
| Q1 24 | 55.2% | 98.8% |
营业利润率PLSAFE
| Q4 25 | -22.6% | 27.4% | ||
| Q3 25 | -24.5% | 25.9% | ||
| Q2 25 | -34.4% | 25.5% | ||
| Q1 25 | -31.5% | 25.9% | ||
| Q4 24 | -36.9% | 24.6% | ||
| Q3 24 | -64.8% | 17.5% | ||
| Q2 24 | -57.2% | 26.7% | ||
| Q1 24 | -57.6% | 26.4% |
净利率PLSAFE
| Q4 25 | -72.8% | 28.5% | ||
| Q3 25 | -30.8% | 30.5% | ||
| Q2 25 | -19.1% | 29.8% | ||
| Q1 25 | -57.1% | 30.1% | ||
| Q4 24 | -32.8% | 28.3% | ||
| Q3 24 | -63.3% | 21.3% | ||
| Q2 24 | -48.5% | 33.0% | ||
| Q1 24 | -51.1% | 33.0% |
每股收益（稀释后）PLSAFE
| Q4 25 | $-0.19 | $0.38 | ||
| Q3 25 | $-0.07 | $0.41 | ||
| Q2 25 | $-0.04 | $0.39 | ||
| Q1 25 | $-0.12 | $0.41 | ||
| Q4 24 | $-0.07 | $0.36 | ||
| Q3 24 | $-0.13 | $0.27 | ||
| Q2 24 | $-0.10 | $0.42 | ||
| Q1 24 | $-0.10 | $0.43 |
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 | $443.3M | $21.7M |
| 总债务越低越好 | — | $4.6B |
| 股东权益账面价值 | $349.6M | $2.4B |
| 总资产 | $1.1B | $7.2B |
| 负债/权益比越低杠杆越低 | — | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资PLSAFE
| Q4 25 | $443.3M | $21.7M | ||
| Q3 25 | $181.1M | $12.1M | ||
| Q2 25 | $133.5M | $13.9M | ||
| Q1 25 | $118.0M | $17.3M | ||
| Q4 24 | $139.0M | $8.3M | ||
| Q3 24 | $148.3M | $15.6M | ||
| Q2 24 | $107.4M | $13.4M | ||
| Q1 24 | $83.9M | $11.3M |
总债务PLSAFE
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
股东权益PLSAFE
| Q4 25 | $349.6M | $2.4B | ||
| Q3 25 | $435.7M | $2.4B | ||
| Q2 25 | $444.8M | $2.4B | ||
| Q1 25 | $441.3M | $2.4B | ||
| Q4 24 | $464.6M | $2.3B | ||
| Q3 24 | $473.2M | $2.3B | ||
| Q2 24 | $500.3M | $2.3B | ||
| Q1 24 | $518.0M | $2.3B |
总资产PLSAFE
| Q4 25 | $1.1B | $7.2B | ||
| Q3 25 | $696.4M | $7.1B | ||
| Q2 25 | $658.4M | $7.1B | ||
| Q1 25 | $633.8M | $6.9B | ||
| Q4 24 | $630.8M | $6.9B | ||
| Q3 24 | $658.4M | $6.8B | ||
| Q2 24 | $674.6M | $6.8B | ||
| Q1 24 | $702.0M | $6.7B |
负债/权益比PLSAFE
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $28.6M | $47.8M |
| 自由现金流经营现金流 - 资本支出 | $1.9M | — |
| 自由现金流率自由现金流/营收 | 2.3% | — |
| 资本支出强度资本支出/营收 | 32.9% | — |
| 现金转化率经营现金流/净利润 | — | 1.72× |
| 过去12个月自由现金流最近4个季度 | $40.7M | — |
8季度趋势，按日历期对齐
经营现金流PLSAFE
| Q4 25 | $28.6M | $47.8M | ||
| Q3 25 | $67.8M | $-1.4M | ||
| Q2 25 | $17.3M | $28.0M | ||
| Q1 25 | $-6.3M | $8.9M | ||
| Q4 24 | $4.1M | $37.9M | ||
| Q3 24 | $-7.9M | $8.3M | ||
| Q2 24 | $-4.3M | $24.8M | ||
| Q1 24 | $-6.8M | $-3.1M |
自由现金流PLSAFE
| Q4 25 | $1.9M | — | ||
| Q3 25 | $47.5M | — | ||
| Q2 25 | $9.2M | — | ||
| Q1 25 | $-17.9M | — | ||
| Q4 24 | $-3.6M | — | ||
| Q3 24 | $-23.0M | — | ||
| Q2 24 | $-14.2M | — | ||
| Q1 24 | $-15.7M | — |
自由现金流率PLSAFE
| Q4 25 | 2.3% | — | ||
| Q3 25 | 64.7% | — | ||
| Q2 25 | 13.9% | — | ||
| Q1 25 | -29.1% | — | ||
| Q4 24 | -5.8% | — | ||
| Q3 24 | -37.6% | — | ||
| Q2 24 | -23.6% | — | ||
| Q1 24 | -26.7% | — |
资本支出强度PLSAFE
| Q4 25 | 32.9% | — | ||
| Q3 25 | 27.6% | — | ||
| Q2 25 | 12.3% | — | ||
| Q1 25 | 18.9% | — | ||
| Q4 24 | 12.5% | — | ||
| Q3 24 | 24.8% | — | ||
| Q2 24 | 16.4% | — | ||
| Q1 24 | 15.1% | — |
现金转化率PLSAFE
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | -0.05× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | -0.10× |
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
PL
| Defense And Intelligence | $49.4M | 61% |
| Civil Government | $18.8M | 23% |
| Commercial | $13.1M | 16% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
