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PTC Inc.（PTC）与Veralto（VLTO）财务数据对比。点击上方公司名可切换其他公司
Veralto的季度营收约是PTC Inc.的1.8倍（$1.4B vs $774.3M），PTC Inc.净利率更高（76.3% vs 17.0%，领先59.3%），PTC Inc.同比增速更快（21.7% vs 4.4%），PTC Inc.自由现金流更多（$318.0M vs $258.0M），过去两年PTC Inc.的营收复合增速更高（22.2% vs 5.8%）
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。
Veralto是总部位于美国马萨诸塞州沃尔瑟姆的科技企业，核心业务覆盖水分析、水处理、标识喷码、包装及色彩管理相关产品的研发与生产，面向全球多领域客户提供适配的技术产品及配套服务。
PTC vs VLTO — 直观对比
营收规模更大
VLTO
是对方的1.8倍
$774.3M
营收增速更快
PTC
高出17.3%
4.4%
净利率更高
PTC
高出59.3%
17.0%
自由现金流更多
PTC
多$60.0M
$258.0M
两年增速更快
PTC
近两年复合增速
5.8%
损益表 — Q2 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $774.3M | $1.4B |
| 净利润 | $590.7M | $239.0M |
| 毛利率 | 99.1% | 60.1% |
| 营业利润率 | 38.2% | 23.2% |
| 净利率 | 76.3% | 17.0% |
| 营收同比 | 21.7% | 4.4% |
| 净利润同比 | 141.2% | 5.3% |
| 每股收益（稀释后） | $4.98 | $0.95 |
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PTCVLTO
| Q1 26 | $774.3M | — | ||
| Q4 25 | $685.8M | $1.4B | ||
| Q3 25 | $893.8M | $1.4B | ||
| Q2 25 | $643.9M | $1.3B | ||
| Q1 25 | $636.4M | — | ||
| Q4 24 | $565.1M | $1.3B | ||
| Q3 24 | $626.5M | $1.3B | ||
| Q2 24 | $518.6M | $1.3B |
净利润PTCVLTO
| Q1 26 | $590.7M | — | ||
| Q4 25 | $166.5M | $239.0M | ||
| Q3 25 | $347.8M | $222.0M | ||
| Q2 25 | $141.3M | $225.0M | ||
| Q1 25 | $162.6M | — | ||
| Q4 24 | $82.2M | $227.0M | ||
| Q3 24 | $126.5M | $219.0M | ||
| Q2 24 | $69.0M | $203.0M |
毛利率PTCVLTO
| Q1 26 | 99.1% | — | ||
| Q4 25 | 82.8% | 60.1% | ||
| Q3 25 | 86.9% | 60.0% | ||
| Q2 25 | 82.9% | 60.4% | ||
| Q1 25 | 83.3% | — | ||
| Q4 24 | 80.2% | 59.6% | ||
| Q3 24 | 82.0% | 59.6% | ||
| Q2 24 | 78.4% | 60.1% |
营业利润率PTCVLTO
| Q1 26 | 38.2% | — | ||
| Q4 25 | 32.2% | 23.2% | ||
| Q3 25 | 48.5% | 22.8% | ||
| Q2 25 | 32.6% | 24.2% | ||
| Q1 25 | 35.1% | — | ||
| Q4 24 | 20.4% | 22.9% | ||
| Q3 24 | 31.0% | 23.4% | ||
| Q2 24 | 18.5% | 23.2% |
净利率PTCVLTO
| Q1 26 | 76.3% | — | ||
| Q4 25 | 24.3% | 17.0% | ||
| Q3 25 | 38.9% | 16.2% | ||
| Q2 25 | 21.9% | 16.9% | ||
| Q1 25 | 25.6% | — | ||
| Q4 24 | 14.6% | 16.9% | ||
| Q3 24 | 20.2% | 16.7% | ||
| Q2 24 | 13.3% | 15.8% |
每股收益（稀释后）PTCVLTO
| Q1 26 | $4.98 | — | ||
| Q4 25 | $1.39 | $0.95 | ||
| Q3 25 | $2.88 | $0.89 | ||
| Q2 25 | $1.17 | $0.90 | ||
| Q1 25 | $1.35 | — | ||
| Q4 24 | $0.68 | $0.91 | ||
| Q3 24 | $1.05 | $0.88 | ||
| Q2 24 | $0.57 | $0.81 |
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 | $1.8B |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $3.9B | $2.8B |
| 总资产 | $6.5B | $7.4B |
| 负债/权益比越低杠杆越低 | — | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资PTCVLTO
| Q1 26 | $439.1M | — | ||
| Q4 25 | $209.7M | $1.8B | ||
| Q3 25 | $184.4M | $1.6B | ||
| Q2 25 | $199.3M | $1.2B | ||
| Q1 25 | $235.2M | — | ||
| Q4 24 | $196.3M | $1.1B | ||
| Q3 24 | $265.8M | $1.3B | ||
| Q2 24 | $247.7M | $1.0B |
总债务PTCVLTO
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $2.7B | ||
| Q3 25 | $1.2B | $2.7B | ||
| Q2 25 | $1.2B | $2.6B | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.0B | $2.6B | ||
| Q3 24 | $1.2B | $2.6B | ||
| Q2 24 | $1.3B | $2.6B |
股东权益PTCVLTO
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.8B | $2.8B | ||
| Q3 25 | $3.8B | $2.7B | ||
| Q2 25 | $3.5B | $2.3B | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.2B | $2.0B | ||
| Q3 24 | $3.2B | $2.0B | ||
| Q2 24 | $3.0B | $1.7B |
总资产PTCVLTO
| Q1 26 | $6.5B | — | ||
| Q4 25 | $6.4B | $7.4B | ||
| Q3 25 | $6.6B | $7.2B | ||
| Q2 25 | $6.2B | $6.6B | ||
| Q1 25 | $6.2B | — | ||
| Q4 24 | $6.1B | $6.4B | ||
| Q3 24 | $6.4B | $6.3B | ||
| Q2 24 | $6.1B | $5.9B |
负债/权益比PTCVLTO
| Q1 26 | — | — | ||
| Q4 25 | 0.31× | 0.94× | ||
| Q3 25 | 0.31× | 1.01× | ||
| Q2 25 | 0.34× | 1.14× | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.32× | 1.28× | ||
| Q3 24 | 0.38× | 1.35× | ||
| Q2 24 | 0.43× | 1.57× |
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 | $270.0M |
| 自由现金流经营现金流 - 资本支出 | $318.0M | $258.0M |
| 自由现金流率自由现金流/营收 | 41.1% | 18.4% |
| 资本支出强度资本支出/营收 | — | 0.9% |
| 现金转化率经营现金流/净利润 | 0.54× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $927.9M | $986.0M |
8季度趋势，按日历期对齐
经营现金流PTCVLTO
| Q1 26 | $320.9M | — | ||
| Q4 25 | $269.7M | $270.0M | ||
| Q3 25 | $104.0M | $339.0M | ||
| Q2 25 | $243.9M | $157.0M | ||
| Q1 25 | $281.3M | — | ||
| Q4 24 | $238.4M | $285.0M | ||
| Q3 24 | $98.1M | $224.0M | ||
| Q2 24 | $213.8M | $251.0M |
自由现金流PTCVLTO
| Q1 26 | $318.0M | — | ||
| Q4 25 | $267.4M | $258.0M | ||
| Q3 25 | $100.5M | $323.0M | ||
| Q2 25 | $242.0M | $142.0M | ||
| Q1 25 | $278.5M | — | ||
| Q4 24 | $235.7M | $263.0M | ||
| Q3 24 | $93.6M | $215.0M | ||
| Q2 24 | $212.2M | $240.0M |
自由现金流率PTCVLTO
| Q1 26 | 41.1% | — | ||
| Q4 25 | 39.0% | 18.4% | ||
| Q3 25 | 11.2% | 23.6% | ||
| Q2 25 | 37.6% | 10.7% | ||
| Q1 25 | 43.8% | — | ||
| Q4 24 | 41.7% | 19.6% | ||
| Q3 24 | 14.9% | 16.4% | ||
| Q2 24 | 40.9% | 18.6% |
资本支出强度PTCVLTO
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 0.9% | ||
| Q3 25 | 0.4% | 1.2% | ||
| Q2 25 | 0.3% | 1.1% | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.5% | 1.6% | ||
| Q3 24 | 0.7% | 0.7% | ||
| Q2 24 | 0.3% | 0.9% |
现金转化率PTCVLTO
| Q1 26 | 0.54× | — | ||
| Q4 25 | 1.62× | 1.13× | ||
| Q3 25 | 0.30× | 1.53× | ||
| Q2 25 | 1.73× | 0.70× | ||
| Q1 25 | 1.73× | — | ||
| Q4 24 | 2.90× | 1.26× | ||
| Q3 24 | 0.78× | 1.02× | ||
| Q2 24 | 3.10× | 1.24× |
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% |
VLTO
| Product Quality And Innovation Segment | $548.0M | 39% |
| Revenuefrom Contractwith Customer Measurement Recurring | $521.0M | 37% |
| Revenuefrom Contractwith Customer Measurement Nonrecurring | $335.0M | 24% |
