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PubMatic, Inc.（PUBM）与Repay Holdings Corp（RPAY）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Repay Holdings Corp的1.0倍（$80.0M vs $78.6M），Repay Holdings Corp同比增速更快（0.4% vs -6.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $11.3M），过去两年PubMatic, Inc.的营收复合增速更高（9.5% vs -1.3%）
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。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
PUBM vs RPAY — 直观对比
营收规模更大
PUBM
是对方的1.0倍
$78.6M
营收增速更快
RPAY
高出6.8%
-6.4%
自由现金流更多
RPAY
多$12.0M
$11.3M
两年增速更快
PUBM
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $80.0M | $78.6M |
| 净利润 | — | $-140.1M |
| 毛利率 | 68.2% | 74.2% |
| 营业利润率 | 10.6% | -182.2% |
| 净利率 | — | -178.3% |
| 营收同比 | -6.4% | 0.4% |
| 净利润同比 | — | -3304.1% |
| 每股收益（稀释后） | $0.14 | $-1.68 |
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PUBMRPAY
| Q4 25 | $80.0M | $78.6M | ||
| Q3 25 | $68.0M | $77.7M | ||
| Q2 25 | $71.1M | $75.6M | ||
| Q1 25 | $63.8M | $77.3M | ||
| Q4 24 | $85.5M | $78.3M | ||
| Q3 24 | $71.8M | $79.1M | ||
| Q2 24 | $67.3M | $74.9M | ||
| Q1 24 | $66.7M | $80.7M |
净利润PUBMRPAY
| Q4 25 | — | $-140.1M | ||
| Q3 25 | $-6.5M | $-6.4M | ||
| Q2 25 | $-5.2M | $-102.3M | ||
| Q1 25 | $-9.5M | $-7.9M | ||
| Q4 24 | — | $-4.1M | ||
| Q3 24 | $-912.0K | $3.2M | ||
| Q2 24 | $2.0M | $-4.1M | ||
| Q1 24 | $-2.5M | $-5.2M |
毛利率PUBMRPAY
| Q4 25 | 68.2% | 74.2% | ||
| Q3 25 | 62.6% | 74.4% | ||
| Q2 25 | 62.6% | 75.7% | ||
| Q1 25 | 59.9% | 75.9% | ||
| Q4 24 | 70.8% | 76.3% | ||
| Q3 24 | 64.5% | 77.8% | ||
| Q2 24 | 62.6% | 78.2% | ||
| Q1 24 | 61.9% | 76.2% |
营业利润率PUBMRPAY
| Q4 25 | 10.6% | -182.2% | ||
| Q3 25 | -12.4% | -3.9% | ||
| Q2 25 | -7.7% | -138.7% | ||
| Q1 25 | -18.6% | -4.7% | ||
| Q4 24 | 17.3% | -1.5% | ||
| Q3 24 | -1.9% | -0.9% | ||
| Q2 24 | -5.9% | -4.6% | ||
| Q1 24 | -8.3% | -3.1% |
净利率PUBMRPAY
| Q4 25 | — | -178.3% | ||
| Q3 25 | -9.5% | -8.3% | ||
| Q2 25 | -7.3% | -135.2% | ||
| Q1 25 | -14.9% | -10.3% | ||
| Q4 24 | — | -5.3% | ||
| Q3 24 | -1.3% | 4.1% | ||
| Q2 24 | 2.9% | -5.4% | ||
| Q1 24 | -3.7% | -6.5% |
每股收益（稀释后）PUBMRPAY
| Q4 25 | $0.14 | $-1.68 | ||
| Q3 25 | $-0.14 | $-0.08 | ||
| Q2 25 | $-0.11 | $-1.15 | ||
| Q1 25 | $-0.20 | $-0.09 | ||
| Q4 24 | $0.26 | $-0.04 | ||
| Q3 24 | $-0.02 | $0.03 | ||
| Q2 24 | $0.04 | $-0.04 | ||
| Q1 24 | $-0.05 | $-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 | $145.5M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $262.6M | $484.4M |
| 总资产 | $680.2M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资PUBMRPAY
| Q4 25 | $145.5M | $115.7M | ||
| Q3 25 | $136.5M | $95.7M | ||
| Q2 25 | $90.5M | $162.6M | ||
| Q1 25 | $101.8M | $165.5M | ||
| Q4 24 | $100.5M | $189.5M | ||
| Q3 24 | $78.9M | $168.7M | ||
| Q2 24 | $73.5M | $147.1M | ||
| Q1 24 | $80.2M | $128.3M |
总债务PUBMRPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益PUBMRPAY
| Q4 25 | $262.6M | $484.4M | ||
| Q3 25 | $245.1M | $616.9M | ||
| Q2 25 | $243.3M | $633.7M | ||
| Q1 25 | $275.6M | $755.7M | ||
| Q4 24 | $277.3M | $761.3M | ||
| Q3 24 | $263.2M | $754.7M | ||
| Q2 24 | $282.7M | $815.4M | ||
| Q1 24 | $288.7M | $813.8M |
总资产PUBMRPAY
| Q4 25 | $680.2M | $1.2B | ||
| Q3 25 | $676.2M | $1.3B | ||
| Q2 25 | $675.2M | $1.4B | ||
| Q1 25 | $668.6M | $1.5B | ||
| Q4 24 | $739.5M | $1.6B | ||
| Q3 24 | $689.1M | $1.6B | ||
| Q2 24 | $673.1M | $1.5B | ||
| Q1 24 | $626.2M | $1.5B |
负债/权益比PUBMRPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $11.3M | $23.2M |
| 自由现金流率自由现金流/营收 | 14.1% | 29.6% |
| 资本支出强度资本支出/营收 | 8.6% | 0.1% |
| 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 | $90.7M |
8季度趋势，按日历期对齐
经营现金流PUBMRPAY
| Q4 25 | $18.2M | $23.3M | ||
| Q3 25 | $32.4M | $32.2M | ||
| Q2 25 | $14.9M | $33.1M | ||
| Q1 25 | $15.6M | $2.5M | ||
| Q4 24 | $18.0M | $34.3M | ||
| Q3 24 | $19.1M | $60.1M | ||
| Q2 24 | $11.9M | $31.0M | ||
| Q1 24 | $24.3M | $24.8M |
自由现金流PUBMRPAY
| Q4 25 | $11.3M | $23.2M | ||
| Q3 25 | $27.7M | $32.1M | ||
| Q2 25 | $13.6M | $33.0M | ||
| Q1 25 | $14.2M | $2.4M | ||
| Q4 24 | $13.7M | $34.0M | ||
| Q3 24 | $7.4M | $59.8M | ||
| Q2 24 | $11.2M | $30.5M | ||
| Q1 24 | $23.5M | $24.7M |
自由现金流率PUBMRPAY
| Q4 25 | 14.1% | 29.6% | ||
| Q3 25 | 40.8% | 41.3% | ||
| Q2 25 | 19.1% | 43.6% | ||
| Q1 25 | 22.2% | 3.0% | ||
| Q4 24 | 16.1% | 43.5% | ||
| Q3 24 | 10.3% | 75.6% | ||
| Q2 24 | 16.7% | 40.7% | ||
| Q1 24 | 35.2% | 30.6% |
资本支出强度PUBMRPAY
| Q4 25 | 8.6% | 0.1% | ||
| Q3 25 | 6.9% | 0.2% | ||
| Q2 25 | 1.9% | 0.1% | ||
| Q1 25 | 2.3% | 0.2% | ||
| Q4 24 | 5.1% | 0.3% | ||
| Q3 24 | 16.3% | 0.3% | ||
| Q2 24 | 1.1% | 0.6% | ||
| Q1 24 | 1.2% | 0.1% |
现金转化率PUBMRPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| 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
业务分部营收拆解
PUBM
暂无分部数据
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
