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PROASSURANCE CORP（PRA）与PROGRESS SOFTWARE CORP（PRGS）财务数据对比。点击上方公司名可切换其他公司
PROASSURANCE CORP的季度营收约是PROGRESS SOFTWARE CORP的1.1倍（$269.6M vs $252.7M），PROASSURANCE CORP净利率更高（12.4% vs 10.2%，领先2.2%），PROGRESS SOFTWARE CORP同比增速更快（17.5% vs -7.1%），过去两年PROGRESS SOFTWARE CORP的营收复合增速更高（17.0% vs -2.7%）
保信集团（ProAssurance）总部位于美国阿拉巴马州伯明翰，是一家财产意外保险公司，主打面向医生的职业责任保险业务。公司前身为1976年成立的Mutual Assurance，1997年更名为Medical Assurance，2001年与Professionals Group合并后改为现名，目前是全美第四大医疗职业责任险承保机构，总资产超60亿美元。
Progress Software是全球领先的企业级软件服务商，主营应用开发平台、数据连接工具、数字体验解决方案等产品，服务覆盖金融、医疗、制造、零售等多行业的全球企业客户，助力客户搭建高性能可扩展的业务应用，提升运营效率。
PRA vs PRGS — 直观对比
营收规模更大
PRA
是对方的1.1倍
$252.7M
营收增速更快
PRGS
高出24.6%
-7.1%
净利率更高
PRA
高出2.2%
10.2%
两年增速更快
PRGS
近两年复合增速
-2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $269.6M | $252.7M |
| 净利润 | $33.4M | $25.7M |
| 毛利率 | — | 81.6% |
| 营业利润率 | 17.3% | 15.2% |
| 净利率 | 12.4% | 10.2% |
| 营收同比 | -7.1% | 17.5% |
| 净利润同比 | 106.4% | 2144.6% |
| 每股收益（稀释后） | $0.65 | $0.59 |
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PRAPRGS
| Q4 25 | $269.6M | $252.7M | ||
| Q3 25 | $279.6M | $249.8M | ||
| Q2 25 | $276.8M | $237.4M | ||
| Q1 25 | $272.1M | $238.0M | ||
| Q4 24 | $290.1M | $215.0M | ||
| Q3 24 | $285.3M | $178.7M | ||
| Q2 24 | $290.4M | $175.1M | ||
| Q1 24 | $284.7M | $184.7M |
净利润PRAPRGS
| Q4 25 | $33.4M | $25.7M | ||
| Q3 25 | $1.4M | $19.4M | ||
| Q2 25 | $21.9M | $17.0M | ||
| Q1 25 | $-5.8M | $10.9M | ||
| Q4 24 | $16.2M | $1.1M | ||
| Q3 24 | $16.4M | $28.5M | ||
| Q2 24 | $15.5M | $16.2M | ||
| Q1 24 | $4.6M | $22.6M |
毛利率PRAPRGS
| Q4 25 | — | 81.6% | ||
| Q3 25 | — | 81.0% | ||
| Q2 25 | — | 80.1% | ||
| Q1 25 | — | 80.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 83.7% | ||
| Q2 24 | — | 81.7% | ||
| Q1 24 | — | 82.2% |
营业利润率PRAPRGS
| Q4 25 | 17.3% | 15.2% | ||
| Q3 25 | 1.6% | 17.6% | ||
| Q2 25 | 9.9% | 16.3% | ||
| Q1 25 | -2.3% | 13.6% | ||
| Q4 24 | 6.5% | 10.0% | ||
| Q3 24 | 7.4% | 22.6% | ||
| Q2 24 | 6.2% | 15.5% | ||
| Q1 24 | 1.9% | 19.0% |
净利率PRAPRGS
| Q4 25 | 12.4% | 10.2% | ||
| Q3 25 | 0.5% | 7.8% | ||
| Q2 25 | 7.9% | 7.2% | ||
| Q1 25 | -2.1% | 4.6% | ||
| Q4 24 | 5.6% | 0.5% | ||
| Q3 24 | 5.8% | 15.9% | ||
| Q2 24 | 5.3% | 9.2% | ||
| Q1 24 | 1.6% | 12.3% |
每股收益（稀释后）PRAPRGS
| Q4 25 | $0.65 | $0.59 | ||
| Q3 25 | $0.03 | $0.44 | ||
| Q2 25 | $0.42 | $0.39 | ||
| Q1 25 | $-0.11 | $0.24 | ||
| Q4 24 | $0.32 | $0.01 | ||
| Q3 24 | $0.32 | $0.65 | ||
| Q2 24 | $0.30 | $0.37 | ||
| Q1 24 | $0.09 | $0.51 |
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 | $36.5M | $94.8M |
| 总债务越低越好 | $420.4M | $1.4B |
| 股东权益账面价值 | $1.3B | $478.3M |
| 总资产 | $5.4B | $2.5B |
| 负债/权益比越低杠杆越低 | 0.31× | 2.93× |
8季度趋势，按日历期对齐
现金及短期投资PRAPRGS
| Q4 25 | $36.5M | $94.8M | ||
| Q3 25 | $54.5M | $99.0M | ||
| Q2 25 | $41.6M | $102.0M | ||
| Q1 25 | $43.5M | $124.2M | ||
| Q4 24 | $54.9M | $118.1M | ||
| Q3 24 | $45.3M | $232.7M | ||
| Q2 24 | $36.9M | $190.4M | ||
| Q1 24 | $65.4M | $133.2M |
总债务PRAPRGS
| Q4 25 | $420.4M | $1.4B | ||
| Q3 25 | $421.5M | $1.4B | ||
| Q2 25 | $422.6M | $1.5B | ||
| Q1 25 | $423.7M | $1.5B | ||
| Q4 24 | $424.9M | $1.5B | ||
| Q3 24 | $425.9M | — | ||
| Q2 24 | $426.9M | — | ||
| Q1 24 | $427.8M | — |
股东权益PRAPRGS
| Q4 25 | $1.3B | $478.3M | ||
| Q3 25 | $1.3B | $477.7M | ||
| Q2 25 | $1.3B | $452.7M | ||
| Q1 25 | $1.2B | $431.8M | ||
| Q4 24 | $1.2B | $438.8M | ||
| Q3 24 | $1.2B | $425.6M | ||
| Q2 24 | $1.1B | $401.7M | ||
| Q1 24 | $1.1B | $461.7M |
总资产PRAPRGS
| Q4 25 | $5.4B | $2.5B | ||
| Q3 25 | $5.6B | $2.4B | ||
| Q2 25 | $5.5B | $2.4B | ||
| Q1 25 | $5.5B | $2.5B | ||
| Q4 24 | $5.6B | $2.5B | ||
| Q3 24 | $5.7B | $1.6B | ||
| Q2 24 | $5.6B | $1.6B | ||
| Q1 24 | $5.7B | $1.5B |
负债/权益比PRAPRGS
| Q4 25 | 0.31× | 2.93× | ||
| Q3 25 | 0.32× | 2.97× | ||
| Q2 25 | 0.33× | 3.22× | ||
| Q1 25 | 0.34× | 3.50× | ||
| Q4 24 | 0.35× | 3.48× | ||
| Q3 24 | 0.35× | — | ||
| Q2 24 | 0.38× | — | ||
| Q1 24 | 0.38× | — |
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 | $-25.6M | $62.8M |
| 自由现金流经营现金流 - 资本支出 | — | $59.9M |
| 自由现金流率自由现金流/营收 | — | 23.7% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | -0.77× | 2.44× |
| 过去12个月自由现金流最近4个季度 | — | $229.5M |
8季度趋势，按日历期对齐
经营现金流PRAPRGS
| Q4 25 | $-25.6M | $62.8M | ||
| Q3 25 | $27.2M | $73.4M | ||
| Q2 25 | $-28.1M | $30.0M | ||
| Q1 25 | $-11.6M | $68.9M | ||
| Q4 24 | $-10.7M | $19.7M | ||
| Q3 24 | $14.0M | $57.7M | ||
| Q2 24 | $-12.8M | $63.7M | ||
| Q1 24 | $-11.6M | $70.5M |
自由现金流PRAPRGS
| Q4 25 | — | $59.9M | ||
| Q3 25 | — | $72.4M | ||
| Q2 25 | — | $29.5M | ||
| Q1 25 | — | $67.7M | ||
| Q4 24 | — | $16.8M | ||
| Q3 24 | — | $56.6M | ||
| Q2 24 | — | $62.7M | ||
| Q1 24 | — | $70.2M |
自由现金流率PRAPRGS
| Q4 25 | — | 23.7% | ||
| Q3 25 | — | 29.0% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | — | 28.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 35.8% | ||
| Q1 24 | — | 38.0% |
资本支出强度PRAPRGS
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.2% |
现金转化率PRAPRGS
| Q4 25 | -0.77× | 2.44× | ||
| Q3 25 | 18.81× | 3.78× | ||
| Q2 25 | -1.28× | 1.76× | ||
| Q1 25 | — | 6.30× | ||
| Q4 24 | -0.66× | 17.13× | ||
| Q3 24 | 0.85× | 2.03× | ||
| Q2 24 | -0.83× | 3.93× | ||
| Q1 24 | -2.52× | 3.11× |
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
PRA
| Workers Compensation Insurance Segment | $164.4M | 61% |
| Other | $59.6M | 22% |
| Segregated Portfolio Cell Reinsurance | $45.7M | 17% |
PRGS
| Maintenanceand Services | $187.5M | 74% |
| Share File Acquisition | $67.5M | 27% |
