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PTC Inc.（PTC）与Trade Desk (The)（TTD）财务数据对比。点击上方公司名可切换其他公司
Trade Desk (The)的季度营收约是PTC Inc.的1.2倍（$846.8M vs $685.8M），PTC Inc.净利率更高（24.3% vs 22.1%，领先2.2%），PTC Inc.同比增速更快（21.4% vs 14.3%），Trade Desk (The)自由现金流更多（$285.3M vs $267.4M），过去两年Trade Desk (The)的营收复合增速更高（31.3% 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。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
PTC vs TTD — 直观对比
营收规模更大
TTD
是对方的1.2倍
$685.8M
营收增速更快
PTC
高出7.1%
14.3%
净利率更高
PTC
高出2.2%
22.1%
自由现金流更多
TTD
多$17.9M
$267.4M
两年增速更快
TTD
近两年复合增速
6.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $685.8M | $846.8M |
| 净利润 | $166.5M | $186.9M |
| 毛利率 | 82.8% | 80.7% |
| 营业利润率 | 32.2% | 30.3% |
| 净利率 | 24.3% | 22.1% |
| 营收同比 | 21.4% | 14.3% |
| 净利润同比 | 102.5% | 2.6% |
| 每股收益（稀释后） | $1.39 | $0.39 |
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PTCTTD
| Q4 25 | $685.8M | $846.8M | ||
| Q3 25 | $893.8M | $739.4M | ||
| Q2 25 | $643.9M | $694.0M | ||
| Q1 25 | $636.4M | $616.0M | ||
| Q4 24 | $565.1M | $741.0M | ||
| Q3 24 | $626.5M | $628.0M | ||
| Q2 24 | $518.6M | $584.5M | ||
| Q1 24 | $603.1M | $491.3M |
净利润PTCTTD
| Q4 25 | $166.5M | $186.9M | ||
| Q3 25 | $347.8M | $115.5M | ||
| Q2 25 | $141.3M | $90.1M | ||
| Q1 25 | $162.6M | $50.7M | ||
| Q4 24 | $82.2M | $182.2M | ||
| Q3 24 | $126.5M | $94.2M | ||
| Q2 24 | $69.0M | $85.0M | ||
| Q1 24 | $114.4M | $31.7M |
毛利率PTCTTD
| Q4 25 | 82.8% | 80.7% | ||
| Q3 25 | 86.9% | 78.1% | ||
| Q2 25 | 82.9% | 78.2% | ||
| Q1 25 | 83.3% | 76.8% | ||
| Q4 24 | 80.2% | 81.7% | ||
| Q3 24 | 82.0% | 80.5% | ||
| Q2 24 | 78.4% | 81.1% | ||
| Q1 24 | 81.8% | 78.9% |
营业利润率PTCTTD
| Q4 25 | 32.2% | 30.3% | ||
| Q3 25 | 48.5% | 21.8% | ||
| Q2 25 | 32.6% | 16.8% | ||
| Q1 25 | 35.1% | 8.8% | ||
| Q4 24 | 20.4% | 26.4% | ||
| Q3 24 | 31.0% | 17.3% | ||
| Q2 24 | 18.5% | 16.2% | ||
| Q1 24 | 29.8% | 5.8% |
净利率PTCTTD
| Q4 25 | 24.3% | 22.1% | ||
| Q3 25 | 38.9% | 15.6% | ||
| Q2 25 | 21.9% | 13.0% | ||
| Q1 25 | 25.6% | 8.2% | ||
| Q4 24 | 14.6% | 24.6% | ||
| Q3 24 | 20.2% | 15.0% | ||
| Q2 24 | 13.3% | 14.5% | ||
| Q1 24 | 19.0% | 6.4% |
每股收益（稀释后）PTCTTD
| Q4 25 | $1.39 | $0.39 | ||
| Q3 25 | $2.88 | $0.23 | ||
| Q2 25 | $1.17 | $0.18 | ||
| Q1 25 | $1.35 | $0.10 | ||
| Q4 24 | $0.68 | $0.36 | ||
| Q3 24 | $1.05 | $0.19 | ||
| Q2 24 | $0.57 | $0.17 | ||
| Q1 24 | $0.95 | $0.06 |
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 | $1.3B |
| 总债务越低越好 | $1.2B | — |
| 股东权益账面价值 | $3.8B | $2.5B |
| 总资产 | $6.4B | $6.2B |
| 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PTCTTD
| Q4 25 | $209.7M | $1.3B | ||
| Q3 25 | $184.4M | $1.4B | ||
| Q2 25 | $199.3M | $1.7B | ||
| Q1 25 | $235.2M | $1.7B | ||
| Q4 24 | $196.3M | $1.9B | ||
| Q3 24 | $265.8M | $1.7B | ||
| Q2 24 | $247.7M | $1.5B | ||
| Q1 24 | $249.0M | $1.4B |
总债务PTCTTD
| 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PTCTTD
| Q4 25 | $3.8B | $2.5B | ||
| Q3 25 | $3.8B | $2.6B | ||
| Q2 25 | $3.5B | $2.7B | ||
| Q1 25 | $3.4B | $2.7B | ||
| Q4 24 | $3.2B | $2.9B | ||
| Q3 24 | $3.2B | $2.6B | ||
| Q2 24 | $3.0B | $2.4B | ||
| Q1 24 | $2.9B | $2.2B |
总资产PTCTTD
| Q4 25 | $6.4B | $6.2B | ||
| Q3 25 | $6.6B | $5.9B | ||
| Q2 25 | $6.2B | $6.0B | ||
| Q1 25 | $6.2B | $5.7B | ||
| Q4 24 | $6.1B | $6.1B | ||
| Q3 24 | $6.4B | $5.5B | ||
| Q2 24 | $6.1B | $5.2B | ||
| Q1 24 | $6.2B | $4.7B |
负债/权益比PTCTTD
| 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 | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $267.4M | $285.3M |
| 自由现金流率自由现金流/营收 | 39.0% | 33.7% |
| 资本支出强度资本支出/营收 | 0.3% | 3.1% |
| 现金转化率经营现金流/净利润 | 1.62× | 1.67× |
| 过去12个月自由现金流最近4个季度 | $888.4M | $795.7M |
8季度趋势，按日历期对齐
经营现金流PTCTTD
| Q4 25 | $269.7M | $311.6M | ||
| Q3 25 | $104.0M | $224.7M | ||
| Q2 25 | $243.9M | $165.0M | ||
| Q1 25 | $281.3M | $291.4M | ||
| Q4 24 | $238.4M | $199.4M | ||
| Q3 24 | $98.1M | $273.3M | ||
| Q2 24 | $213.8M | $81.3M | ||
| Q1 24 | $250.7M | $185.5M |
自由现金流PTCTTD
| Q4 25 | $267.4M | $285.3M | ||
| Q3 25 | $100.5M | $158.3M | ||
| Q2 25 | $242.0M | $119.8M | ||
| Q1 25 | $278.5M | $232.3M | ||
| Q4 24 | $235.7M | $179.2M | ||
| Q3 24 | $93.6M | $224.6M | ||
| Q2 24 | $212.2M | $59.1M | ||
| Q1 24 | $247.1M | $178.2M |
自由现金流率PTCTTD
| Q4 25 | 39.0% | 33.7% | ||
| Q3 25 | 11.2% | 21.4% | ||
| Q2 25 | 37.6% | 17.3% | ||
| Q1 25 | 43.8% | 37.7% | ||
| Q4 24 | 41.7% | 24.2% | ||
| Q3 24 | 14.9% | 35.8% | ||
| Q2 24 | 40.9% | 10.1% | ||
| Q1 24 | 41.0% | 36.3% |
资本支出强度PTCTTD
| Q4 25 | 0.3% | 3.1% | ||
| Q3 25 | 0.4% | 9.0% | ||
| Q2 25 | 0.3% | 6.5% | ||
| Q1 25 | 0.4% | 9.6% | ||
| Q4 24 | 0.5% | 2.7% | ||
| Q3 24 | 0.7% | 7.8% | ||
| Q2 24 | 0.3% | 3.8% | ||
| Q1 24 | 0.6% | 1.5% |
现金转化率PTCTTD
| Q4 25 | 1.62× | 1.67× | ||
| Q3 25 | 0.30× | 1.94× | ||
| Q2 25 | 1.73× | 1.83× | ||
| Q1 25 | 1.73× | 5.75× | ||
| Q4 24 | 2.90× | 1.09× | ||
| Q3 24 | 0.78× | 2.90× | ||
| Q2 24 | 3.10× | 0.96× | ||
| Q1 24 | 2.19× | 5.86× |
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% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
