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PTC Inc.（PTC）与Red Cat Holdings, Inc.（RCAT）财务数据对比。点击上方公司名可切换其他公司
PTC Inc.的季度营收约是Red Cat Holdings, Inc.的71.1倍（$685.8M vs $9.6M）。PTC Inc.净利率更高（24.3% vs -166.0%，领先190.3%）。Red Cat Holdings, Inc.同比增速更快（988.2% vs 21.4%）。PTC Inc.自由现金流更多（$267.4M vs $-24.5M）。过去两年Red Cat Holdings, Inc.的营收复合增速更高（457.0% vs 6.6%）
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
Mega Cat Studios是一家总部位于美国宾夕法尼亚州匹兹堡的电子游戏开发与发行企业，由詹姆斯·迪根、尼克·曼恩和扎克·曼科于2015年共同创立，专注于游戏内容的研发与全球发行布局。
PTC vs RCAT — 直观对比
营收规模更大
PTC
是对方的71.1倍
$9.6M
营收增速更快
RCAT
高出966.9%
21.4%
净利率更高
PTC
高出190.3%
-166.0%
自由现金流更多
PTC
多$291.9M
$-24.5M
两年增速更快
RCAT
近两年复合增速
6.6%
损益表 — Q1 2026 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $685.8M | $9.6M |
| 净利润 | $166.5M | $-16.0M |
| 毛利率 | 82.8% | 6.6% |
| 营业利润率 | 32.2% | -181.7% |
| 净利率 | 24.3% | -166.0% |
| 营收同比 | 21.4% | 988.2% |
| 净利润同比 | 102.5% | -29.0% |
| 每股收益（稀释后） | $1.39 | $-0.16 |
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PTCRCAT
| Q4 25 | $685.8M | — | ||
| Q3 25 | $893.8M | $9.6M | ||
| Q2 25 | $643.9M | $1.1M | ||
| Q1 25 | $636.4M | $1.6M | ||
| Q4 24 | $565.1M | $0 | ||
| Q3 24 | $626.5M | $886.4K | ||
| Q2 24 | $518.6M | — | ||
| Q1 24 | $603.1M | $5.8M |
净利润PTCRCAT
| Q4 25 | $166.5M | — | ||
| Q3 25 | $347.8M | $-16.0M | ||
| Q2 25 | $141.3M | $-13.3M | ||
| Q1 25 | $162.6M | $-23.1M | ||
| Q4 24 | $82.2M | $-13.3M | ||
| Q3 24 | $126.5M | $-12.4M | ||
| Q2 24 | $69.0M | — | ||
| Q1 24 | $114.4M | $-5.5M |
毛利率PTCRCAT
| Q4 25 | 82.8% | — | ||
| Q3 25 | 86.9% | 6.6% | ||
| Q2 25 | 82.9% | 33.2% | ||
| Q1 25 | 83.3% | -52.2% | ||
| Q4 24 | 80.2% | — | ||
| Q3 24 | 82.0% | -54.5% | ||
| Q2 24 | 78.4% | — | ||
| Q1 24 | 81.8% | 18.8% |
营业利润率PTCRCAT
| Q4 25 | 32.2% | — | ||
| Q3 25 | 48.5% | -181.7% | ||
| Q2 25 | 32.6% | -1120.9% | ||
| Q1 25 | 35.1% | -765.7% | ||
| Q4 24 | 20.4% | — | ||
| Q3 24 | 31.0% | -1400.7% | ||
| Q2 24 | 18.5% | — | ||
| Q1 24 | 29.8% | -76.0% |
净利率PTCRCAT
| Q4 25 | 24.3% | — | ||
| Q3 25 | 38.9% | -166.0% | ||
| Q2 25 | 21.9% | -1176.9% | ||
| Q1 25 | 25.6% | -1418.9% | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 20.2% | -1400.7% | ||
| Q2 24 | 13.3% | — | ||
| Q1 24 | 19.0% | -93.9% |
每股收益（稀释后）PTCRCAT
| Q4 25 | $1.39 | — | ||
| Q3 25 | $2.88 | $-0.16 | ||
| Q2 25 | $1.17 | $-0.15 | ||
| Q1 25 | $1.35 | $-0.27 | ||
| Q4 24 | $0.68 | — | ||
| Q3 24 | $1.05 | — | ||
| Q2 24 | $0.57 | — | ||
| Q1 24 | $0.95 | — |
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 | $209.7M | — |
| 总债务越低越好 | $1.2B | — |
| 股东权益账面价值 | $3.8B | $253.3M |
| 总资产 | $6.4B | $286.0M |
| 负债/权益比越低杠杆越低 | 0.31× | — |
8季度趋势，按日历期对齐
现金及短期投资PTCRCAT
| Q4 25 | $209.7M | — | ||
| Q3 25 | $184.4M | — | ||
| Q2 25 | $199.3M | — | ||
| Q1 25 | $235.2M | — | ||
| Q4 24 | $196.3M | — | ||
| Q3 24 | $265.8M | — | ||
| Q2 24 | $247.7M | — | ||
| Q1 24 | $249.0M | — |
总债务PTCRCAT
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.5B | — |
股东权益PTCRCAT
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.8B | $253.3M | ||
| Q2 25 | $3.5B | $95.6M | ||
| Q1 25 | $3.4B | $28.9M | ||
| Q4 24 | $3.2B | $27.0M | ||
| Q3 24 | $3.2B | $32.5M | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $2.9B | $49.6M |
总资产PTCRCAT
| Q4 25 | $6.4B | — | ||
| Q3 25 | $6.6B | $286.0M | ||
| Q2 25 | $6.2B | $121.4M | ||
| Q1 25 | $6.2B | $59.7M | ||
| Q4 24 | $6.1B | $51.1M | ||
| Q3 24 | $6.4B | $38.0M | ||
| Q2 24 | $6.1B | — | ||
| Q1 24 | $6.2B | $55.3M |
负债/权益比PTCRCAT
| Q4 25 | 0.31× | — | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.34× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | 0.43× | — | ||
| Q1 24 | 0.51× | — |
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 | $269.7M | $-23.9M |
| 自由现金流经营现金流 - 资本支出 | $267.4M | $-24.5M |
| 自由现金流率自由现金流/营收 | 39.0% | -254.2% |
| 资本支出强度资本支出/营收 | 0.3% | 6.9% |
| 现金转化率经营现金流/净利润 | 1.62× | — |
| 过去12个月自由现金流最近4个季度 | $888.4M | $-64.1M |
8季度趋势，按日历期对齐
经营现金流PTCRCAT
| Q4 25 | $269.7M | — | ||
| Q3 25 | $104.0M | $-23.9M | ||
| Q2 25 | $243.9M | $-12.9M | ||
| Q1 25 | $281.3M | $-15.9M | ||
| Q4 24 | $238.4M | $-10.1M | ||
| Q3 24 | $98.1M | $-2.3M | ||
| Q2 24 | $213.8M | — | ||
| Q1 24 | $250.7M | $-4.1M |
自由现金流PTCRCAT
| Q4 25 | $267.4M | — | ||
| Q3 25 | $100.5M | $-24.5M | ||
| Q2 25 | $242.0M | $-13.2M | ||
| Q1 25 | $278.5M | $-16.2M | ||
| Q4 24 | $235.7M | $-10.2M | ||
| Q3 24 | $93.6M | $-2.4M | ||
| Q2 24 | $212.2M | — | ||
| Q1 24 | $247.1M | $-4.2M |
自由现金流率PTCRCAT
| Q4 25 | 39.0% | — | ||
| Q3 25 | 11.2% | -254.2% | ||
| Q2 25 | 37.6% | -1170.2% | ||
| Q1 25 | 43.8% | -992.9% | ||
| Q4 24 | 41.7% | — | ||
| Q3 24 | 14.9% | -276.2% | ||
| Q2 24 | 40.9% | — | ||
| Q1 24 | 41.0% | -71.1% |
资本支出强度PTCRCAT
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.4% | 6.9% | ||
| Q2 25 | 0.3% | 27.2% | ||
| Q1 25 | 0.4% | 16.8% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.7% | 11.3% | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.6% | 0.8% |
现金转化率PTCRCAT
| Q4 25 | 1.62× | — | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 1.73× | — | ||
| Q4 24 | 2.90× | — | ||
| Q3 24 | 0.78× | — | ||
| Q2 24 | 3.10× | — | ||
| Q1 24 | 2.19× | — |
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
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
RCAT
| Products | $8.5M | 88% |
| Services | $1.2M | 12% |
