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PTC Inc.（PTC）与Unity Software Inc.（U）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Unity Software Inc.的1.4倍（$685.8M vs $503.1M）。PTC Inc.净利率更高（24.3% vs -17.9%，领先42.2%）。PTC Inc.同比增速更快（21.4% vs 10.1%）。PTC Inc.自由现金流更多（$267.4M vs $118.7M）。过去两年PTC Inc.的营收复合增速更高（6.6% vs 4.5%）
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。
Unity Software Inc.是总部位于美国旧金山的游戏软件开发企业，2004年于丹麦成立时原名为Over the Edge Entertainment，2007年更为现名。公司核心产品Unity游戏引擎全球应用广泛，可用于开发各类电子游戏及其他互动应用，商业化授权服务覆盖全球客户。
PTC vs U — 直观对比
营收规模更大
PTC
是对方的1.4倍
$503.1M
营收增速更快
PTC
高出11.3%
10.1%
净利率更高
PTC
高出42.2%
-17.9%
自由现金流更多
PTC
多$148.7M
$118.7M
两年增速更快
PTC
近两年复合增速
4.5%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $685.8M | $503.1M |
| 净利润 | $166.5M | $-90.0M |
| 毛利率 | 82.8% | 74.3% |
| 营业利润率 | 32.2% | -21.2% |
| 净利率 | 24.3% | -17.9% |
| 营收同比 | 21.4% | 10.1% |
| 净利润同比 | 102.5% | 26.7% |
| 每股收益（稀释后） | $1.39 | $-0.21 |
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PTCU
| Q4 25 | $685.8M | $503.1M | ||
| Q3 25 | $893.8M | $470.6M | ||
| Q2 25 | $643.9M | $440.9M | ||
| Q1 25 | $636.4M | $435.0M | ||
| Q4 24 | $565.1M | $457.1M | ||
| Q3 24 | $626.5M | $446.5M | ||
| Q2 24 | $518.6M | $449.3M | ||
| Q1 24 | $603.1M | $460.4M |
净利润PTCU
| Q4 25 | $166.5M | $-90.0M | ||
| Q3 25 | $347.8M | $-126.4M | ||
| Q2 25 | $141.3M | $-108.8M | ||
| Q1 25 | $162.6M | $-77.6M | ||
| Q4 24 | $82.2M | $-122.7M | ||
| Q3 24 | $126.5M | $-124.7M | ||
| Q2 24 | $69.0M | $-125.6M | ||
| Q1 24 | $114.4M | $-291.1M |
毛利率PTCU
| Q4 25 | 82.8% | 74.3% | ||
| Q3 25 | 86.9% | 74.4% | ||
| Q2 25 | 82.9% | 74.1% | ||
| Q1 25 | 83.3% | 73.8% | ||
| Q4 24 | 80.2% | 74.7% | ||
| Q3 24 | 82.0% | 74.9% | ||
| Q2 24 | 78.4% | 75.8% | ||
| Q1 24 | 81.8% | 68.6% |
营业利润率PTCU
| Q4 25 | 32.2% | -21.2% | ||
| Q3 25 | 48.5% | -26.7% | ||
| Q2 25 | 32.6% | -26.9% | ||
| Q1 25 | 35.1% | -29.4% | ||
| Q4 24 | 20.4% | -27.1% | ||
| Q3 24 | 31.0% | -28.5% | ||
| Q2 24 | 18.5% | -28.8% | ||
| Q1 24 | 29.8% | -81.4% |
净利率PTCU
| Q4 25 | 24.3% | -17.9% | ||
| Q3 25 | 38.9% | -26.9% | ||
| Q2 25 | 21.9% | -24.7% | ||
| Q1 25 | 25.6% | -17.8% | ||
| Q4 24 | 14.6% | -26.8% | ||
| Q3 24 | 20.2% | -27.9% | ||
| Q2 24 | 13.3% | -28.0% | ||
| Q1 24 | 19.0% | -63.2% |
每股收益（稀释后）PTCU
| Q4 25 | $1.39 | $-0.21 | ||
| Q3 25 | $2.88 | $-0.30 | ||
| Q2 25 | $1.17 | $-0.26 | ||
| Q1 25 | $1.35 | $-0.19 | ||
| Q4 24 | $0.68 | $-0.30 | ||
| Q3 24 | $1.05 | $-0.31 | ||
| Q2 24 | $0.57 | $-0.32 | ||
| Q1 24 | $0.95 | $-0.75 |
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 | $2.1B |
| 总债务越低越好 | $1.2B | — |
| 股东权益账面价值 | $3.8B | $3.2B |
| 总资产 | $6.4B | $6.8B |
| 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PTCU
| Q4 25 | $209.7M | $2.1B | ||
| Q3 25 | $184.4M | $1.9B | ||
| Q2 25 | $199.3M | $1.7B | ||
| Q1 25 | $235.2M | $1.5B | ||
| Q4 24 | $196.3M | $1.5B | ||
| Q3 24 | $265.8M | $1.4B | ||
| Q2 24 | $247.7M | $1.3B | ||
| Q1 24 | $249.0M | $1.2B |
总债务PTCU
| 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PTCU
| Q4 25 | $3.8B | $3.2B | ||
| Q3 25 | $3.8B | $3.2B | ||
| Q2 25 | $3.5B | $3.2B | ||
| Q1 25 | $3.4B | $3.2B | ||
| Q4 24 | $3.2B | $3.2B | ||
| Q3 24 | $3.2B | $3.2B | ||
| Q2 24 | $3.0B | $3.2B | ||
| Q1 24 | $2.9B | $3.2B |
总资产PTCU
| Q4 25 | $6.4B | $6.8B | ||
| Q3 25 | $6.6B | $6.8B | ||
| Q2 25 | $6.2B | $6.7B | ||
| Q1 25 | $6.2B | $6.6B | ||
| Q4 24 | $6.1B | $6.7B | ||
| Q3 24 | $6.4B | $6.7B | ||
| Q2 24 | $6.1B | $6.7B | ||
| Q1 24 | $6.2B | $6.8B |
负债/权益比PTCU
| 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 | $121.4M |
| 自由现金流经营现金流 - 资本支出 | $267.4M | $118.7M |
| 自由现金流率自由现金流/营收 | 39.0% | 23.6% |
| 资本支出强度资本支出/营收 | 0.3% | 0.5% |
| 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 | $403.9M |
8季度趋势，按日历期对齐
经营现金流PTCU
| Q4 25 | $269.7M | $121.4M | ||
| Q3 25 | $104.0M | $155.4M | ||
| Q2 25 | $243.9M | $133.1M | ||
| Q1 25 | $281.3M | $13.0M | ||
| Q4 24 | $238.4M | $112.2M | ||
| Q3 24 | $98.1M | $122.4M | ||
| Q2 24 | $213.8M | $88.4M | ||
| Q1 24 | $250.7M | $-7.4M |
自由现金流PTCU
| Q4 25 | $267.4M | $118.7M | ||
| Q3 25 | $100.5M | $151.3M | ||
| Q2 25 | $242.0M | $126.7M | ||
| Q1 25 | $278.5M | $7.3M | ||
| Q4 24 | $235.7M | $105.8M | ||
| Q3 24 | $93.6M | $115.2M | ||
| Q2 24 | $212.2M | $79.6M | ||
| Q1 24 | $247.1M | $-14.6M |
自由现金流率PTCU
| Q4 25 | 39.0% | 23.6% | ||
| Q3 25 | 11.2% | 32.1% | ||
| Q2 25 | 37.6% | 28.7% | ||
| Q1 25 | 43.8% | 1.7% | ||
| Q4 24 | 41.7% | 23.1% | ||
| Q3 24 | 14.9% | 25.8% | ||
| Q2 24 | 40.9% | 17.7% | ||
| Q1 24 | 41.0% | -3.2% |
资本支出强度PTCU
| Q4 25 | 0.3% | 0.5% | ||
| Q3 25 | 0.4% | 0.9% | ||
| Q2 25 | 0.3% | 1.5% | ||
| Q1 25 | 0.4% | 1.3% | ||
| Q4 24 | 0.5% | 1.4% | ||
| Q3 24 | 0.7% | 1.6% | ||
| Q2 24 | 0.3% | 2.0% | ||
| Q1 24 | 0.6% | 1.6% |
现金转化率PTCU
| 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% |
U
| Grow Solutions | $338.2M | 67% |
| Create Solutions | $164.9M | 33% |
