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PubMatic, Inc.（PUBM）与万物新生（RERE）财务数据对比。点击上方公司名可切换其他公司
PubMatic, Inc.的季度营收约是万物新生的1.9倍（$80.0M vs $43.2M）
PubMatic是一家面向数字出版与广告行业的科技企业，核心开发供应端实时程序化广告交易系统，依托自动化技术连接网站、视频、移动端应用的出版商与广告买家，同时支持用户选择不共享个人信息，目前在全球多国设有办公网点。
万物新生集团（ATRenew Inc.）是中国领先的二手消费电子产品交易与服务平台运营商，核心业务覆盖数码产品回收、质检、翻新及售卖，运营有爱回收等知名品牌，服务覆盖个人消费者及企业客户，市场遍及国内及部分东南亚地区。
PUBM vs RERE — 直观对比
营收规模更大
PUBM
是对方的1.9倍
$43.2M
损益表 — Q4 FY2025 vs Q1 FY2023
| 指标 | | |
|---|---|---|
| 营收 | $80.0M | $43.2M |
| 净利润 | — | $7.3M |
| 毛利率 | 68.2% | — |
| 营业利润率 | 10.6% | — |
| 净利率 | — | 16.9% |
| 营收同比 | -6.4% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.14 | — |
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PUBMRERE
| Q4 25 | $80.0M | — | ||
| Q3 25 | $68.0M | — | ||
| Q2 25 | $71.1M | — | ||
| Q1 25 | $63.8M | — | ||
| Q4 24 | $85.5M | — | ||
| Q3 24 | $71.8M | — | ||
| Q2 24 | $67.3M | — | ||
| Q1 24 | $66.7M | — |
净利润PUBMRERE
| Q4 25 | — | — | ||
| Q3 25 | $-6.5M | — | ||
| Q2 25 | $-5.2M | — | ||
| Q1 25 | $-9.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-912.0K | — | ||
| Q2 24 | $2.0M | — | ||
| Q1 24 | $-2.5M | — |
毛利率PUBMRERE
| Q4 25 | 68.2% | — | ||
| Q3 25 | 62.6% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 59.9% | — | ||
| Q4 24 | 70.8% | — | ||
| Q3 24 | 64.5% | — | ||
| Q2 24 | 62.6% | — | ||
| Q1 24 | 61.9% | — |
营业利润率PUBMRERE
| Q4 25 | 10.6% | — | ||
| Q3 25 | -12.4% | — | ||
| Q2 25 | -7.7% | — | ||
| Q1 25 | -18.6% | — | ||
| Q4 24 | 17.3% | — | ||
| Q3 24 | -1.9% | — | ||
| Q2 24 | -5.9% | — | ||
| Q1 24 | -8.3% | — |
净利率PUBMRERE
| Q4 25 | — | — | ||
| Q3 25 | -9.5% | — | ||
| Q2 25 | -7.3% | — | ||
| Q1 25 | -14.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -1.3% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | -3.7% | — |
每股收益（稀释后）PUBMRERE
| Q4 25 | $0.14 | — | ||
| Q3 25 | $-0.14 | — | ||
| Q2 25 | $-0.11 | — | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $0.26 | — | ||
| Q3 24 | $-0.02 | — | ||
| Q2 24 | $0.04 | — | ||
| Q1 24 | $-0.05 | — |
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 | $145.5M | $228.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $262.6M | $557.1M |
| 总资产 | $680.2M | $722.9M |
| 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PUBMRERE
| Q4 25 | $145.5M | — | ||
| Q3 25 | $136.5M | — | ||
| Q2 25 | $90.5M | — | ||
| Q1 25 | $101.8M | — | ||
| Q4 24 | $100.5M | — | ||
| Q3 24 | $78.9M | — | ||
| Q2 24 | $73.5M | — | ||
| Q1 24 | $80.2M | — |
股东权益PUBMRERE
| Q4 25 | $262.6M | — | ||
| Q3 25 | $245.1M | — | ||
| Q2 25 | $243.3M | — | ||
| Q1 25 | $275.6M | — | ||
| Q4 24 | $277.3M | — | ||
| Q3 24 | $263.2M | — | ||
| Q2 24 | $282.7M | — | ||
| Q1 24 | $288.7M | — |
总资产PUBMRERE
| Q4 25 | $680.2M | — | ||
| Q3 25 | $676.2M | — | ||
| Q2 25 | $675.2M | — | ||
| Q1 25 | $668.6M | — | ||
| Q4 24 | $739.5M | — | ||
| Q3 24 | $689.1M | — | ||
| Q2 24 | $673.1M | — | ||
| Q1 24 | $626.2M | — |
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 | $18.2M | — |
| 自由现金流经营现金流 - 资本支出 | $11.3M | — |
| 自由现金流率自由现金流/营收 | 14.1% | — |
| 资本支出强度资本支出/营收 | 8.6% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $66.7M | — |
8季度趋势，按日历期对齐
经营现金流PUBMRERE
| Q4 25 | $18.2M | — | ||
| Q3 25 | $32.4M | — | ||
| Q2 25 | $14.9M | — | ||
| Q1 25 | $15.6M | — | ||
| Q4 24 | $18.0M | — | ||
| Q3 24 | $19.1M | — | ||
| Q2 24 | $11.9M | — | ||
| Q1 24 | $24.3M | — |
自由现金流PUBMRERE
| Q4 25 | $11.3M | — | ||
| Q3 25 | $27.7M | — | ||
| Q2 25 | $13.6M | — | ||
| Q1 25 | $14.2M | — | ||
| Q4 24 | $13.7M | — | ||
| Q3 24 | $7.4M | — | ||
| Q2 24 | $11.2M | — | ||
| Q1 24 | $23.5M | — |
自由现金流率PUBMRERE
| Q4 25 | 14.1% | — | ||
| Q3 25 | 40.8% | — | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | 22.2% | — | ||
| Q4 24 | 16.1% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 16.7% | — | ||
| Q1 24 | 35.2% | — |
资本支出强度PUBMRERE
| Q4 25 | 8.6% | — | ||
| Q3 25 | 6.9% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 2.3% | — | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 16.3% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 1.2% | — |
现金转化率PUBMRERE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.06× | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
