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PTC Inc.（PTC）与Gentherm Inc（THRM）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Gentherm Inc的1.8倍（$685.8M vs $382.8M），PTC Inc.净利率更高（24.3% vs 0.8%，领先23.5%），PTC Inc.同比增速更快（21.4% vs 8.5%），PTC Inc.自由现金流更多（$267.4M vs $6.7M），过去两年PTC Inc.的营收复合增速更高（6.6% vs 3.7%）
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。
金瑟公司（原阿梅里贡）是一家美国热管理技术企业，为汽车行业研发出了全球首款热电调温座椅系统——气候控制座椅系统。该系统于1999年率先被福特汽车采纳，作为选装配置搭载在2000款林肯领航员上，如今已应用于福特、通用、丰田（雷克萨斯）、起亚、现代、日产（英菲尼迪）等车企的50余款车型。
PTC vs THRM — 直观对比
营收规模更大
PTC
是对方的1.8倍
$382.8M
营收增速更快
PTC
高出12.9%
8.5%
净利率更高
PTC
高出23.5%
0.8%
自由现金流更多
PTC
多$260.7M
$6.7M
两年增速更快
PTC
近两年复合增速
3.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $685.8M | $382.8M |
| 净利润 | $166.5M | $3.0M |
| 毛利率 | 82.8% | 23.7% |
| 营业利润率 | 32.2% | 4.6% |
| 净利率 | 24.3% | 0.8% |
| 营收同比 | 21.4% | 8.5% |
| 净利润同比 | 102.5% | -80.5% |
| 每股收益（稀释后） | $1.39 | $0.08 |
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PTCTHRM
| Q4 25 | $685.8M | $382.8M | ||
| Q3 25 | $893.8M | $386.9M | ||
| Q2 25 | $643.9M | $375.1M | ||
| Q1 25 | $636.4M | $353.9M | ||
| Q4 24 | $565.1M | $352.9M | ||
| Q3 24 | $626.5M | $371.5M | ||
| Q2 24 | $518.6M | $375.7M | ||
| Q1 24 | $603.1M | $356.0M |
净利润PTCTHRM
| Q4 25 | $166.5M | $3.0M | ||
| Q3 25 | $347.8M | $14.9M | ||
| Q2 25 | $141.3M | $477.0K | ||
| Q1 25 | $162.6M | $-128.0K | ||
| Q4 24 | $82.2M | $15.3M | ||
| Q3 24 | $126.5M | $16.0M | ||
| Q2 24 | $69.0M | $18.9M | ||
| Q1 24 | $114.4M | $14.8M |
毛利率PTCTHRM
| Q4 25 | 82.8% | 23.7% | ||
| Q3 25 | 86.9% | 24.6% | ||
| Q2 25 | 82.9% | 23.9% | ||
| Q1 25 | 83.3% | 24.4% | ||
| Q4 24 | 80.2% | 24.4% | ||
| Q3 24 | 82.0% | 25.5% | ||
| Q2 24 | 78.4% | 25.7% | ||
| Q1 24 | 81.8% | 24.9% |
营业利润率PTCTHRM
| Q4 25 | 32.2% | 4.6% | ||
| Q3 25 | 48.5% | 6.2% | ||
| Q2 25 | 32.6% | 6.4% | ||
| Q1 25 | 35.1% | 4.8% | ||
| Q4 24 | 20.4% | 6.7% | ||
| Q3 24 | 31.0% | 8.7% | ||
| Q2 24 | 18.5% | 8.8% | ||
| Q1 24 | 29.8% | 5.1% |
净利率PTCTHRM
| Q4 25 | 24.3% | 0.8% | ||
| Q3 25 | 38.9% | 3.9% | ||
| Q2 25 | 21.9% | 0.1% | ||
| Q1 25 | 25.6% | -0.0% | ||
| Q4 24 | 14.6% | 4.3% | ||
| Q3 24 | 20.2% | 4.3% | ||
| Q2 24 | 13.3% | 5.0% | ||
| Q1 24 | 19.0% | 4.2% |
每股收益（稀释后）PTCTHRM
| Q4 25 | $1.39 | $0.08 | ||
| Q3 25 | $2.88 | $0.49 | ||
| Q2 25 | $1.17 | $0.02 | ||
| Q1 25 | $1.35 | $0.00 | ||
| Q4 24 | $0.68 | $0.48 | ||
| Q3 24 | $1.05 | $0.51 | ||
| Q2 24 | $0.57 | $0.60 | ||
| Q1 24 | $0.95 | $0.47 |
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 | $160.8M |
| 总债务越低越好 | $1.2B | $189.0M |
| 股东权益账面价值 | $3.8B | $720.3M |
| 总资产 | $6.4B | $1.4B |
| 负债/权益比越低杠杆越低 | 0.31× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资PTCTHRM
| Q4 25 | $209.7M | $160.8M | ||
| Q3 25 | $184.4M | $154.3M | ||
| Q2 25 | $199.3M | $128.3M | ||
| Q1 25 | $235.2M | $163.1M | ||
| Q4 24 | $196.3M | $134.1M | ||
| Q3 24 | $265.8M | $150.6M | ||
| Q2 24 | $247.7M | $123.5M | ||
| Q1 24 | $249.0M | $125.1M |
总债务PTCTHRM
| Q4 25 | $1.2B | $189.0M | ||
| Q3 25 | $1.2B | $189.0M | ||
| Q2 25 | $1.2B | $209.0M | ||
| Q1 25 | $1.4B | $262.0M | ||
| Q4 24 | $1.0B | $220.1M | ||
| Q3 24 | $1.2B | $222.1M | ||
| Q2 24 | $1.3B | $222.1M | ||
| Q1 24 | $1.5B | $222.2M |
股东权益PTCTHRM
| Q4 25 | $3.8B | $720.3M | ||
| Q3 25 | $3.8B | $717.9M | ||
| Q2 25 | $3.5B | $699.7M | ||
| Q1 25 | $3.4B | $646.5M | ||
| Q4 24 | $3.2B | $616.9M | ||
| Q3 24 | $3.2B | $660.7M | ||
| Q2 24 | $3.0B | $640.3M | ||
| Q1 24 | $2.9B | $647.1M |
总资产PTCTHRM
| Q4 25 | $6.4B | $1.4B | ||
| Q3 25 | $6.6B | $1.4B | ||
| Q2 25 | $6.2B | $1.4B | ||
| Q1 25 | $6.2B | $1.3B | ||
| Q4 24 | $6.1B | $1.2B | ||
| Q3 24 | $6.4B | $1.3B | ||
| Q2 24 | $6.1B | $1.2B | ||
| Q1 24 | $6.2B | $1.3B |
负债/权益比PTCTHRM
| Q4 25 | 0.31× | 0.26× | ||
| Q3 25 | 0.31× | 0.26× | ||
| Q2 25 | 0.34× | 0.30× | ||
| Q1 25 | 0.40× | 0.41× | ||
| Q4 24 | 0.32× | 0.36× | ||
| Q3 24 | 0.38× | 0.34× | ||
| Q2 24 | 0.43× | 0.35× | ||
| Q1 24 | 0.51× | 0.34× |
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 | $29.0M |
| 自由现金流经营现金流 - 资本支出 | $267.4M | $6.7M |
| 自由现金流率自由现金流/营收 | 39.0% | 1.7% |
| 资本支出强度资本支出/营收 | 0.3% | 5.8% |
| 现金转化率经营现金流/净利润 | 1.62× | 9.70× |
| 过去12个月自由现金流最近4个季度 | $888.4M | $61.1M |
8季度趋势，按日历期对齐
经营现金流PTCTHRM
| Q4 25 | $269.7M | $29.0M | ||
| Q3 25 | $104.0M | $56.1M | ||
| Q2 25 | $243.9M | $45.0M | ||
| Q1 25 | $281.3M | $-13.3M | ||
| Q4 24 | $238.4M | $36.6M | ||
| Q3 24 | $98.1M | $46.3M | ||
| Q2 24 | $213.8M | $37.1M | ||
| Q1 24 | $250.7M | $-10.3M |
自由现金流PTCTHRM
| Q4 25 | $267.4M | $6.7M | ||
| Q3 25 | $100.5M | $46.5M | ||
| Q2 25 | $242.0M | $36.2M | ||
| Q1 25 | $278.5M | $-28.2M | ||
| Q4 24 | $235.7M | $13.6M | ||
| Q3 24 | $93.6M | $26.6M | ||
| Q2 24 | $212.2M | $17.8M | ||
| Q1 24 | $247.1M | $-21.6M |
自由现金流率PTCTHRM
| Q4 25 | 39.0% | 1.7% | ||
| Q3 25 | 11.2% | 12.0% | ||
| Q2 25 | 37.6% | 9.6% | ||
| Q1 25 | 43.8% | -8.0% | ||
| Q4 24 | 41.7% | 3.9% | ||
| Q3 24 | 14.9% | 7.2% | ||
| Q2 24 | 40.9% | 4.7% | ||
| Q1 24 | 41.0% | -6.1% |
资本支出强度PTCTHRM
| Q4 25 | 0.3% | 5.8% | ||
| Q3 25 | 0.4% | 2.5% | ||
| Q2 25 | 0.3% | 2.4% | ||
| Q1 25 | 0.4% | 4.2% | ||
| Q4 24 | 0.5% | 6.5% | ||
| Q3 24 | 0.7% | 5.3% | ||
| Q2 24 | 0.3% | 5.2% | ||
| Q1 24 | 0.6% | 3.2% |
现金转化率PTCTHRM
| Q4 25 | 1.62× | 9.70× | ||
| Q3 25 | 0.30× | 3.75× | ||
| Q2 25 | 1.73× | 94.43× | ||
| Q1 25 | 1.73× | — | ||
| Q4 24 | 2.90× | 2.39× | ||
| Q3 24 | 0.78× | 2.90× | ||
| Q2 24 | 3.10× | 1.97× | ||
| Q1 24 | 2.19× | -0.70× |
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% |
THRM
| Climate Control Seats | $200.9M | 52% |
| Lumbar And Massage Comfort Solutions | $58.5M | 15% |
| Climate Control Interiors | $50.3M | 13% |
| Other Automotive | $27.6M | 7% |
| Valve Systems | $24.1M | 6% |
| Medical Segments | $13.9M | 4% |
| Climate And Comfort Electronics | $7.4M | 2% |
