vs
PTC Inc.（PTC）与天宝（TRMB）财务数据对比。点击上方公司名可切换其他公司
天宝的季度营收约是PTC Inc.的1.4倍（$969.8M vs $685.8M），PTC Inc.净利率更高（24.3% vs 16.1%，领先8.1%），PTC Inc.同比增速更快（21.4% vs -73.7%），天宝自由现金流更多（$360.9M vs $267.4M），过去两年PTC Inc.的营收复合增速更高（6.6% vs 0.9%）
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。
天宝（Trimble Inc.）是1978年成立的美国科技企业，总部位于科罗拉多州威斯敏斯特，于纳斯达克上市，为标普500成分股。公司面向建筑工程、地理空间测绘、交通物流等多个行业，提供软硬件产品及相关技术服务。
PTC vs TRMB — 直观对比
营收规模更大
TRMB
是对方的1.4倍
$685.8M
营收增速更快
PTC
高出95.0%
-73.7%
净利率更高
PTC
高出8.1%
16.1%
自由现金流更多
TRMB
多$93.5M
$267.4M
两年增速更快
PTC
近两年复合增速
0.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $685.8M | $969.8M |
| 净利润 | $166.5M | $156.6M |
| 毛利率 | 82.8% | 72.0% |
| 营业利润率 | 32.2% | 22.3% |
| 净利率 | 24.3% | 16.1% |
| 营收同比 | 21.4% | -73.7% |
| 净利润同比 | 102.5% | 73.6% |
| 每股收益（稀释后） | $1.39 | $0.65 |
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PTCTRMB
| Q4 25 | $685.8M | $901.2M | ||
| Q3 25 | $893.8M | $875.7M | ||
| Q2 25 | $643.9M | $840.6M | ||
| Q1 25 | $636.4M | $983.4M | ||
| Q4 24 | $565.1M | — | ||
| Q3 24 | $626.5M | $875.8M | ||
| Q2 24 | $518.6M | $870.8M | ||
| Q1 24 | $603.1M | $953.3M |
净利润PTCTRMB
| Q4 25 | $166.5M | $111.5M | ||
| Q3 25 | $347.8M | $89.2M | ||
| Q2 25 | $141.3M | $66.7M | ||
| Q1 25 | $162.6M | $90.2M | ||
| Q4 24 | $82.2M | — | ||
| Q3 24 | $126.5M | $40.6M | ||
| Q2 24 | $69.0M | $1.3B | ||
| Q1 24 | $114.4M | $57.2M |
毛利率PTCTRMB
| Q4 25 | 82.8% | 68.9% | ||
| Q3 25 | 86.9% | 68.3% | ||
| Q2 25 | 82.9% | 66.7% | ||
| Q1 25 | 83.3% | 69.3% | ||
| Q4 24 | 80.2% | — | ||
| Q3 24 | 82.0% | 65.7% | ||
| Q2 24 | 78.4% | 62.7% | ||
| Q1 24 | 81.8% | 62.3% |
营业利润率PTCTRMB
| Q4 25 | 32.2% | 16.7% | ||
| Q3 25 | 48.5% | 14.6% | ||
| Q2 25 | 32.6% | 11.6% | ||
| Q1 25 | 35.1% | 17.6% | ||
| Q4 24 | 20.4% | — | ||
| Q3 24 | 31.0% | 13.3% | ||
| Q2 24 | 18.5% | 7.1% | ||
| Q1 24 | 29.8% | 11.5% |
净利率PTCTRMB
| Q4 25 | 24.3% | 12.4% | ||
| Q3 25 | 38.9% | 10.2% | ||
| Q2 25 | 21.9% | 7.9% | ||
| Q1 25 | 25.6% | 9.2% | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 20.2% | 4.6% | ||
| Q2 24 | 13.3% | 151.2% | ||
| Q1 24 | 19.0% | 6.0% |
每股收益（稀释后）PTCTRMB
| Q4 25 | $1.39 | $0.46 | ||
| Q3 25 | $2.88 | $0.37 | ||
| Q2 25 | $1.17 | $0.27 | ||
| Q1 25 | $1.35 | $0.36 | ||
| Q4 24 | $0.68 | — | ||
| Q3 24 | $1.05 | $0.16 | ||
| Q2 24 | $0.57 | $5.34 | ||
| Q1 24 | $0.95 | $0.23 |
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 | $253.4M |
| 总债务越低越好 | $1.2B | $1.4B |
| 股东权益账面价值 | $3.8B | $5.8B |
| 总资产 | $6.4B | $9.3B |
| 负债/权益比越低杠杆越低 | 0.31× | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资PTCTRMB
| Q4 25 | $209.7M | $232.7M | ||
| Q3 25 | $184.4M | $265.9M | ||
| Q2 25 | $199.3M | $290.0M | ||
| Q1 25 | $235.2M | $738.8M | ||
| Q4 24 | $196.3M | — | ||
| Q3 24 | $265.8M | $1.0B | ||
| Q2 24 | $247.7M | $944.1M | ||
| Q1 24 | $249.0M | $255.1M |
总债务PTCTRMB
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.5B | — |
股东权益PTCTRMB
| Q4 25 | $3.8B | $5.8B | ||
| Q3 25 | $3.8B | $5.7B | ||
| Q2 25 | $3.5B | $5.4B | ||
| Q1 25 | $3.4B | $5.7B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | $5.9B | ||
| Q2 24 | $3.0B | $5.6B | ||
| Q1 24 | $2.9B | $4.3B |
总资产PTCTRMB
| Q4 25 | $6.4B | $9.0B | ||
| Q3 25 | $6.6B | $9.1B | ||
| Q2 25 | $6.2B | $8.9B | ||
| Q1 25 | $6.2B | $9.5B | ||
| Q4 24 | $6.1B | — | ||
| Q3 24 | $6.4B | $9.9B | ||
| Q2 24 | $6.1B | $9.6B | ||
| Q1 24 | $6.2B | $9.3B |
负债/权益比PTCTRMB
| Q4 25 | 0.31× | 0.24× | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.34× | — | ||
| Q1 25 | 0.40× | 0.24× | ||
| 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 | $386.2M |
| 自由现金流经营现金流 - 资本支出 | $267.4M | $360.9M |
| 自由现金流率自由现金流/营收 | 39.0% | 37.2% |
| 资本支出强度资本支出/营收 | 0.3% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.62× | 2.47× |
| 过去12个月自由现金流最近4个季度 | $888.4M | — |
8季度趋势，按日历期对齐
经营现金流PTCTRMB
| Q4 25 | $269.7M | — | ||
| Q3 25 | $104.0M | $123.8M | ||
| Q2 25 | $243.9M | $155.6M | ||
| Q1 25 | $281.3M | $115.1M | ||
| Q4 24 | $238.4M | — | ||
| Q3 24 | $98.1M | $94.9M | ||
| Q2 24 | $213.8M | $87.6M | ||
| Q1 24 | $250.7M | $233.8M |
自由现金流PTCTRMB
| Q4 25 | $267.4M | — | ||
| Q3 25 | $100.5M | $116.6M | ||
| Q2 25 | $242.0M | $149.0M | ||
| Q1 25 | $278.5M | $109.0M | ||
| Q4 24 | $235.7M | — | ||
| Q3 24 | $93.6M | $88.5M | ||
| Q2 24 | $212.2M | $73.3M | ||
| Q1 24 | $247.1M | $227.0M |
自由现金流率PTCTRMB
| Q4 25 | 39.0% | — | ||
| Q3 25 | 11.2% | 13.3% | ||
| Q2 25 | 37.6% | 17.7% | ||
| Q1 25 | 43.8% | 11.1% | ||
| Q4 24 | 41.7% | — | ||
| Q3 24 | 14.9% | 10.1% | ||
| Q2 24 | 40.9% | 8.4% | ||
| Q1 24 | 41.0% | 23.8% |
资本支出强度PTCTRMB
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.4% | 0.8% | ||
| Q2 25 | 0.3% | 0.8% | ||
| Q1 25 | 0.4% | 0.6% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.7% | 0.7% | ||
| Q2 24 | 0.3% | 1.6% | ||
| Q1 24 | 0.6% | 0.7% |
现金转化率PTCTRMB
| Q4 25 | 1.62× | — | ||
| Q3 25 | 0.30× | 1.39× | ||
| Q2 25 | 1.73× | 2.33× | ||
| Q1 25 | 1.73× | 1.28× | ||
| Q4 24 | 2.90× | — | ||
| Q3 24 | 0.78× | 2.34× | ||
| Q2 24 | 3.10× | 0.07× | ||
| Q1 24 | 2.19× | 4.09× |
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% |
TRMB
| Subscription and services | $701.5M | 72% |
| Product | $268.3M | 28% |
