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PTC Inc.（PTC）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是PTC Inc.的1.9倍（$1.3B vs $685.8M），PTC Inc.净利率更高（24.3% vs -63.1%，领先87.3%），PTC Inc.同比增速更快（21.4% vs -25.8%），PTC Inc.自由现金流更多（$267.4M vs $-1.1B），过去两年PTC Inc.的营收复合增速更高（6.6% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
PTC vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.9倍
$685.8M
营收增速更快
PTC
高出47.2%
-25.8%
净利率更高
PTC
高出87.3%
-63.1%
自由现金流更多
PTC
多$1.4B
$-1.1B
两年增速更快
PTC
近两年复合增速
3.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $685.8M | $1.3B |
| 净利润 | $166.5M | $-811.0M |
| 毛利率 | 82.8% | 9.3% |
| 营业利润率 | 32.2% | -64.8% |
| 净利率 | 24.3% | -63.1% |
| 营收同比 | 21.4% | -25.8% |
| 净利润同比 | 102.5% | -9.0% |
| 每股收益（稀释后） | $1.39 | $-0.66 |
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PTCRIVN
| Q4 25 | $685.8M | $1.3B | ||
| Q3 25 | $893.8M | $1.6B | ||
| Q2 25 | $643.9M | $1.3B | ||
| Q1 25 | $636.4M | $1.2B | ||
| Q4 24 | $565.1M | $1.7B | ||
| Q3 24 | $626.5M | $874.0M | ||
| Q2 24 | $518.6M | $1.2B | ||
| Q1 24 | $603.1M | $1.2B |
净利润PTCRIVN
| Q4 25 | $166.5M | $-811.0M | ||
| Q3 25 | $347.8M | $-1.2B | ||
| Q2 25 | $141.3M | $-1.1B | ||
| Q1 25 | $162.6M | $-545.0M | ||
| Q4 24 | $82.2M | $-744.0M | ||
| Q3 24 | $126.5M | $-1.1B | ||
| Q2 24 | $69.0M | $-1.5B | ||
| Q1 24 | $114.4M | $-1.4B |
毛利率PTCRIVN
| Q4 25 | 82.8% | 9.3% | ||
| Q3 25 | 86.9% | 1.5% | ||
| Q2 25 | 82.9% | -15.8% | ||
| Q1 25 | 83.3% | 16.6% | ||
| Q4 24 | 80.2% | 9.8% | ||
| Q3 24 | 82.0% | -44.9% | ||
| Q2 24 | 78.4% | -38.9% | ||
| Q1 24 | 81.8% | -43.8% |
营业利润率PTCRIVN
| Q4 25 | 32.2% | -64.8% | ||
| Q3 25 | 48.5% | -63.1% | ||
| Q2 25 | 32.6% | -85.5% | ||
| Q1 25 | 35.1% | -52.8% | ||
| Q4 24 | 20.4% | -38.1% | ||
| Q3 24 | 31.0% | -133.8% | ||
| Q2 24 | 18.5% | -118.7% | ||
| Q1 24 | 29.8% | -123.3% |
净利率PTCRIVN
| Q4 25 | 24.3% | -63.1% | ||
| Q3 25 | 38.9% | -75.3% | ||
| Q2 25 | 21.9% | -85.7% | ||
| Q1 25 | 25.6% | -44.0% | ||
| Q4 24 | 14.6% | -42.9% | ||
| Q3 24 | 20.2% | -125.9% | ||
| Q2 24 | 13.3% | -125.8% | ||
| Q1 24 | 19.0% | -120.1% |
每股收益（稀释后）PTCRIVN
| Q4 25 | $1.39 | $-0.66 | ||
| Q3 25 | $2.88 | $-0.96 | ||
| Q2 25 | $1.17 | $-0.97 | ||
| Q1 25 | $1.35 | $-0.48 | ||
| Q4 24 | $0.68 | $-0.67 | ||
| Q3 24 | $1.05 | $-1.08 | ||
| Q2 24 | $0.57 | $-1.46 | ||
| Q1 24 | $0.95 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | $1.2B | — |
| 股东权益账面价值 | $3.8B | $4.6B |
| 总资产 | $6.4B | $14.9B |
| 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PTCRIVN
| Q4 25 | $209.7M | $6.1B | ||
| Q3 25 | $184.4M | $7.1B | ||
| Q2 25 | $199.3M | $7.5B | ||
| Q1 25 | $235.2M | $7.2B | ||
| Q4 24 | $196.3M | $7.7B | ||
| Q3 24 | $265.8M | $6.7B | ||
| Q2 24 | $247.7M | $7.9B | ||
| Q1 24 | $249.0M | $7.9B |
总债务PTCRIVN
| 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 | $5.5B | ||
| Q1 24 | $1.5B | $4.4B |
股东权益PTCRIVN
| Q4 25 | $3.8B | $4.6B | ||
| Q3 25 | $3.8B | $5.1B | ||
| Q2 25 | $3.5B | $6.1B | ||
| Q1 25 | $3.4B | $6.2B | ||
| Q4 24 | $3.2B | $6.6B | ||
| Q3 24 | $3.2B | $5.9B | ||
| Q2 24 | $3.0B | $6.8B | ||
| Q1 24 | $2.9B | $8.1B |
总资产PTCRIVN
| Q4 25 | $6.4B | $14.9B | ||
| Q3 25 | $6.6B | $15.2B | ||
| Q2 25 | $6.2B | $15.6B | ||
| Q1 25 | $6.2B | $15.5B | ||
| Q4 24 | $6.1B | $15.4B | ||
| Q3 24 | $6.4B | $14.3B | ||
| Q2 24 | $6.1B | $15.4B | ||
| Q1 24 | $6.2B | $15.7B |
负债/权益比PTCRIVN
| 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× | 0.81× | ||
| Q1 24 | 0.51× | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $267.4M | $-1.1B |
| 自由现金流率自由现金流/营收 | 39.0% | -89.0% |
| 资本支出强度资本支出/营收 | 0.3% | 36.0% |
| 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 | $-2.5B |
8季度趋势，按日历期对齐
经营现金流PTCRIVN
| Q4 25 | $269.7M | $-681.0M | ||
| Q3 25 | $104.0M | $26.0M | ||
| Q2 25 | $243.9M | $64.0M | ||
| Q1 25 | $281.3M | $-188.0M | ||
| Q4 24 | $238.4M | $1.2B | ||
| Q3 24 | $98.1M | $-876.0M | ||
| Q2 24 | $213.8M | $-754.0M | ||
| Q1 24 | $250.7M | $-1.3B |
自由现金流PTCRIVN
| Q4 25 | $267.4M | $-1.1B | ||
| Q3 25 | $100.5M | $-421.0M | ||
| Q2 25 | $242.0M | $-398.0M | ||
| Q1 25 | $278.5M | $-526.0M | ||
| Q4 24 | $235.7M | $856.0M | ||
| Q3 24 | $93.6M | $-1.2B | ||
| Q2 24 | $212.2M | $-1.0B | ||
| Q1 24 | $247.1M | $-1.5B |
自由现金流率PTCRIVN
| Q4 25 | 39.0% | -89.0% | ||
| Q3 25 | 11.2% | -27.0% | ||
| Q2 25 | 37.6% | -30.5% | ||
| Q1 25 | 43.8% | -42.4% | ||
| Q4 24 | 41.7% | 49.4% | ||
| Q3 24 | 14.9% | -131.9% | ||
| Q2 24 | 40.9% | -89.6% | ||
| Q1 24 | 41.0% | -126.5% |
资本支出强度PTCRIVN
| Q4 25 | 0.3% | 36.0% | ||
| Q3 25 | 0.4% | 28.7% | ||
| Q2 25 | 0.3% | 35.5% | ||
| Q1 25 | 0.4% | 27.3% | ||
| Q4 24 | 0.5% | 18.9% | ||
| Q3 24 | 0.7% | 31.7% | ||
| Q2 24 | 0.3% | 24.4% | ||
| Q1 24 | 0.6% | 21.1% |
现金转化率PTCRIVN
| 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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
