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POWER INTEGRATIONS INC（POWI）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
POWER INTEGRATIONS INC的季度营收约是Repay Holdings Corp的1.3倍（$103.2M vs $78.6M），POWER INTEGRATIONS INC净利率更高（12.9% vs -178.3%，领先191.2%），Repay Holdings Corp同比增速更快（0.4% vs -1.9%），Repay Holdings Corp自由现金流更多（$23.2M vs $19.2M），过去两年POWER INTEGRATIONS INC的营收复合增速更高（6.1% vs -1.3%）
Power Integrations Inc.是美国头部电力公用事业企业，业务覆盖美国本土11个州，服务超500万用户，在全美电力供应领域拥有领先的市场地位与成熟的运营体系。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
POWI vs RPAY — 直观对比
营收规模更大
POWI
是对方的1.3倍
$78.6M
营收增速更快
RPAY
高出2.3%
-1.9%
净利率更高
POWI
高出191.2%
-178.3%
自由现金流更多
RPAY
多$4.1M
$19.2M
两年增速更快
POWI
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $103.2M | $78.6M |
| 净利润 | $13.3M | $-140.1M |
| 毛利率 | 52.9% | 74.2% |
| 营业利润率 | 8.5% | -182.2% |
| 净利率 | 12.9% | -178.3% |
| 营收同比 | -1.9% | 0.4% |
| 净利润同比 | 45.4% | -3304.1% |
| 每股收益（稀释后） | $0.24 | $-1.68 |
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POWIRPAY
| Q4 25 | $103.2M | $78.6M | ||
| Q3 25 | $118.9M | $77.7M | ||
| Q2 25 | $115.9M | $75.6M | ||
| Q1 25 | $105.5M | $77.3M | ||
| Q4 24 | $105.3M | $78.3M | ||
| Q3 24 | $115.8M | $79.1M | ||
| Q2 24 | $106.2M | $74.9M | ||
| Q1 24 | $91.7M | $80.7M |
净利润POWIRPAY
| Q4 25 | $13.3M | $-140.1M | ||
| Q3 25 | $-1.4M | $-6.4M | ||
| Q2 25 | $1.4M | $-102.3M | ||
| Q1 25 | $8.8M | $-7.9M | ||
| Q4 24 | $9.1M | $-4.1M | ||
| Q3 24 | $14.3M | $3.2M | ||
| Q2 24 | $4.8M | $-4.1M | ||
| Q1 24 | $4.0M | $-5.2M |
毛利率POWIRPAY
| Q4 25 | 52.9% | 74.2% | ||
| Q3 25 | 54.5% | 74.4% | ||
| Q2 25 | 55.2% | 75.7% | ||
| Q1 25 | 55.2% | 75.9% | ||
| Q4 24 | 54.4% | 76.3% | ||
| Q3 24 | 54.5% | 77.8% | ||
| Q2 24 | 53.2% | 78.2% | ||
| Q1 24 | 52.1% | 76.2% |
营业利润率POWIRPAY
| Q4 25 | 8.5% | -182.2% | ||
| Q3 25 | -3.3% | -3.9% | ||
| Q2 25 | -1.2% | -138.7% | ||
| Q1 25 | 6.4% | -4.7% | ||
| Q4 24 | 3.7% | -1.5% | ||
| Q3 24 | 10.0% | -0.9% | ||
| Q2 24 | 1.8% | -4.6% | ||
| Q1 24 | 0.5% | -3.1% |
净利率POWIRPAY
| Q4 25 | 12.9% | -178.3% | ||
| Q3 25 | -1.1% | -8.3% | ||
| Q2 25 | 1.2% | -135.2% | ||
| Q1 25 | 8.3% | -10.3% | ||
| Q4 24 | 8.7% | -5.3% | ||
| Q3 24 | 12.3% | 4.1% | ||
| Q2 24 | 4.6% | -5.4% | ||
| Q1 24 | 4.3% | -6.5% |
每股收益（稀释后）POWIRPAY
| Q4 25 | $0.24 | $-1.68 | ||
| Q3 25 | $-0.02 | $-0.08 | ||
| Q2 25 | $0.02 | $-1.15 | ||
| Q1 25 | $0.15 | $-0.09 | ||
| Q4 24 | $0.15 | $-0.04 | ||
| Q3 24 | $0.25 | $0.03 | ||
| Q2 24 | $0.09 | $-0.04 | ||
| Q1 24 | $0.07 | $-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 | $249.5M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $672.8M | $484.4M |
| 总资产 | $772.2M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资POWIRPAY
| Q4 25 | $249.5M | $115.7M | ||
| Q3 25 | $241.9M | $95.7M | ||
| Q2 25 | $268.7M | $162.6M | ||
| Q1 25 | $289.3M | $165.5M | ||
| Q4 24 | $300.0M | $189.5M | ||
| Q3 24 | $303.8M | $168.7M | ||
| Q2 24 | $290.5M | $147.1M | ||
| Q1 24 | $299.6M | $128.3M |
总债务POWIRPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益POWIRPAY
| Q4 25 | $672.8M | $484.4M | ||
| Q3 25 | $672.0M | $616.9M | ||
| Q2 25 | $703.8M | $633.7M | ||
| Q1 25 | $735.8M | $755.7M | ||
| Q4 24 | $749.8M | $761.3M | ||
| Q3 24 | $749.2M | $754.7M | ||
| Q2 24 | $730.7M | $815.4M | ||
| Q1 24 | $738.2M | $813.8M |
总资产POWIRPAY
| Q4 25 | $772.2M | $1.2B | ||
| Q3 25 | $772.5M | $1.3B | ||
| Q2 25 | $797.5M | $1.4B | ||
| Q1 25 | $814.4M | $1.5B | ||
| Q4 24 | $828.8M | $1.6B | ||
| Q3 24 | $825.0M | $1.6B | ||
| Q2 24 | $804.8M | $1.5B | ||
| Q1 24 | $805.8M | $1.5B |
负债/权益比POWIRPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $26.2M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $19.2M | $23.2M |
| 自由现金流率自由现金流/营收 | 18.6% | 29.6% |
| 资本支出强度资本支出/营收 | 6.8% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.97× | — |
| 过去12个月自由现金流最近4个季度 | $87.1M | $90.7M |
8季度趋势，按日历期对齐
经营现金流POWIRPAY
| Q4 25 | $26.2M | $23.3M | ||
| Q3 25 | $29.9M | $32.2M | ||
| Q2 25 | $29.1M | $33.1M | ||
| Q1 25 | $26.4M | $2.5M | ||
| Q4 24 | $14.7M | $34.3M | ||
| Q3 24 | $32.9M | $60.1M | ||
| Q2 24 | $17.6M | $31.0M | ||
| Q1 24 | $15.9M | $24.8M |
自由现金流POWIRPAY
| Q4 25 | $19.2M | $23.2M | ||
| Q3 25 | $24.2M | $32.1M | ||
| Q2 25 | $23.1M | $33.0M | ||
| Q1 25 | $20.7M | $2.4M | ||
| Q4 24 | $11.7M | $34.0M | ||
| Q3 24 | $27.2M | $59.8M | ||
| Q2 24 | $13.5M | $30.5M | ||
| Q1 24 | $11.6M | $24.7M |
自由现金流率POWIRPAY
| Q4 25 | 18.6% | 29.6% | ||
| Q3 25 | 20.3% | 41.3% | ||
| Q2 25 | 20.0% | 43.6% | ||
| Q1 25 | 19.6% | 3.0% | ||
| Q4 24 | 11.1% | 43.5% | ||
| Q3 24 | 23.5% | 75.6% | ||
| Q2 24 | 12.7% | 40.7% | ||
| Q1 24 | 12.6% | 30.6% |
资本支出强度POWIRPAY
| Q4 25 | 6.8% | 0.1% | ||
| Q3 25 | 4.8% | 0.2% | ||
| Q2 25 | 5.1% | 0.1% | ||
| Q1 25 | 5.4% | 0.2% | ||
| Q4 24 | 2.9% | 0.3% | ||
| Q3 24 | 4.9% | 0.3% | ||
| Q2 24 | 3.9% | 0.6% | ||
| Q1 24 | 4.7% | 0.1% |
现金转化率POWIRPAY
| Q4 25 | 1.97× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 21.24× | — | ||
| Q1 25 | 3.00× | — | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | 2.30× | 18.52× | ||
| Q2 24 | 3.64× | — | ||
| Q1 24 | 4.02× | — |
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
POWI
| Distributors | $65.8M | 64% |
| Other | $10.3M | 10% |
| KR | $9.3M | 9% |
| DE | $7.1M | 7% |
| TW | $5.5M | 5% |
| Emea Other Than Germany | $5.3M | 5% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
