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PTC Inc.（PTC）与VinFast Auto Ltd.（VFS）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VinFast Auto Ltd.的1.1倍（$774.3M vs $718.6M），PTC Inc.净利率更高（76.3% vs -2.8%，领先79.1%）
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。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
PTC vs VFS — 直观对比
营收规模更大
PTC
是对方的1.1倍
$718.6M
净利率更高
PTC
高出79.1%
-2.8%
损益表 — Q2 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $774.3M | $718.6M |
| 净利润 | $590.7M | $-20.0M |
| 毛利率 | 99.1% | — |
| 营业利润率 | 38.2% | -96.1% |
| 净利率 | 76.3% | -2.8% |
| 营收同比 | 21.7% | — |
| 净利润同比 | 141.2% | — |
| 每股收益（稀释后） | $4.98 | — |
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PTCVFS
| Q1 26 | $774.3M | — | ||
| Q4 25 | $685.8M | — | ||
| Q3 25 | $893.8M | $718.6M | ||
| Q2 25 | $643.9M | $663.0M | ||
| Q1 25 | $636.4M | $656.5M | ||
| Q4 24 | $565.1M | — | ||
| Q3 24 | $626.5M | $511.6M | ||
| Q2 24 | $518.6M | — |
净利润PTCVFS
| Q1 26 | $590.7M | — | ||
| Q4 25 | $166.5M | — | ||
| Q3 25 | $347.8M | $-20.0M | ||
| Q2 25 | $141.3M | $-51.8M | ||
| Q1 25 | $162.6M | $-26.1M | ||
| Q4 24 | $82.2M | — | ||
| Q3 24 | $126.5M | $-10.4M | ||
| Q2 24 | $69.0M | — |
毛利率PTCVFS
| Q1 26 | 99.1% | — | ||
| Q4 25 | 82.8% | — | ||
| Q3 25 | 86.9% | — | ||
| Q2 25 | 82.9% | — | ||
| Q1 25 | 83.3% | — | ||
| Q4 24 | 80.2% | — | ||
| Q3 24 | 82.0% | — | ||
| Q2 24 | 78.4% | — |
营业利润率PTCVFS
| Q1 26 | 38.2% | — | ||
| Q4 25 | 32.2% | — | ||
| Q3 25 | 48.5% | -96.1% | ||
| Q2 25 | 32.6% | -79.0% | ||
| Q1 25 | 35.1% | -74.0% | ||
| Q4 24 | 20.4% | — | ||
| Q3 24 | 31.0% | -65.9% | ||
| Q2 24 | 18.5% | — |
净利率PTCVFS
| Q1 26 | 76.3% | — | ||
| Q4 25 | 24.3% | — | ||
| Q3 25 | 38.9% | -2.8% | ||
| Q2 25 | 21.9% | -7.8% | ||
| Q1 25 | 25.6% | -4.0% | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 20.2% | -2.0% | ||
| Q2 24 | 13.3% | — |
每股收益（稀释后）PTCVFS
| Q1 26 | $4.98 | — | ||
| Q4 25 | $1.39 | — | ||
| Q3 25 | $2.88 | — | ||
| Q2 25 | $1.17 | — | ||
| Q1 25 | $1.35 | — | ||
| Q4 24 | $0.68 | — | ||
| Q3 24 | $1.05 | — | ||
| Q2 24 | $0.57 | — |
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 | $439.1M | $8.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.9B | — |
| 总资产 | $6.5B | $183.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PTCVFS
| Q1 26 | $439.1M | — | ||
| Q4 25 | $209.7M | — | ||
| Q3 25 | $184.4M | $8.8M | ||
| Q2 25 | $199.3M | $650.0M | ||
| Q1 25 | $235.2M | $2.4M | ||
| Q4 24 | $196.3M | — | ||
| Q3 24 | $265.8M | $1.9M | ||
| Q2 24 | $247.7M | — |
总债务PTCVFS
| Q1 26 | — | — | ||
| 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 | — |
股东权益PTCVFS
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.8B | — | ||
| Q2 25 | $3.5B | $-7.2B | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.0B | — |
总资产PTCVFS
| Q1 26 | $6.5B | — | ||
| Q4 25 | $6.4B | — | ||
| Q3 25 | $6.6B | $183.2M | ||
| Q2 25 | $6.2B | $7.2B | ||
| Q1 25 | $6.2B | $158.2M | ||
| Q4 24 | $6.1B | — | ||
| Q3 24 | $6.4B | $151.8M | ||
| Q2 24 | $6.1B | — |
负债/权益比PTCVFS
| Q1 26 | — | — | ||
| 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× | — |
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 | $320.9M | — |
| 自由现金流经营现金流 - 资本支出 | $318.0M | — |
| 自由现金流率自由现金流/营收 | 41.1% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 0.54× | — |
| 过去12个月自由现金流最近4个季度 | $927.9M | — |
8季度趋势，按日历期对齐
经营现金流PTCVFS
| Q1 26 | $320.9M | — | ||
| Q4 25 | $269.7M | — | ||
| Q3 25 | $104.0M | — | ||
| Q2 25 | $243.9M | — | ||
| Q1 25 | $281.3M | — | ||
| Q4 24 | $238.4M | — | ||
| Q3 24 | $98.1M | — | ||
| Q2 24 | $213.8M | — |
自由现金流PTCVFS
| Q1 26 | $318.0M | — | ||
| Q4 25 | $267.4M | — | ||
| Q3 25 | $100.5M | — | ||
| Q2 25 | $242.0M | — | ||
| Q1 25 | $278.5M | — | ||
| Q4 24 | $235.7M | — | ||
| Q3 24 | $93.6M | — | ||
| Q2 24 | $212.2M | — |
自由现金流率PTCVFS
| Q1 26 | 41.1% | — | ||
| Q4 25 | 39.0% | — | ||
| Q3 25 | 11.2% | — | ||
| Q2 25 | 37.6% | — | ||
| Q1 25 | 43.8% | — | ||
| Q4 24 | 41.7% | — | ||
| Q3 24 | 14.9% | — | ||
| Q2 24 | 40.9% | — |
资本支出强度PTCVFS
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 0.3% | — |
现金转化率PTCVFS
| Q1 26 | 0.54× | — | ||
| 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× | — |
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
| Recurring revenue | $743.4M | 96% |
| Other | $24.0M | 3% |
| Perpetual license | $6.9M | 1% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
