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P10, Inc.（PX）与RESOURCES CONNECTION, INC.（RGP）财务数据对比。点击上方公司名可切换其他公司
RESOURCES CONNECTION, INC.的季度营收约是P10, Inc.的1.5倍（$117.7M vs $81.0M），P10, Inc.净利率更高（11.7% vs -10.8%，领先22.4%），P10, Inc.同比增速更快（-4.7% vs -19.2%），P10, Inc.自由现金流更多（$18.1M vs $15.6M），过去两年P10, Inc.的营收复合增速更高（10.7% vs -11.8%）
P10, Inc.是一家全球另类资产管理公司，提供涵盖私募股权、私募信贷、实物资产、风险投资的多元化投资解决方案，主要服务北美、欧洲、亚太市场的养老基金、捐赠基金、基金会及高净值个人等客户群体。
RGP原名 Resources Global Professionals，是 Resources Connection, Inc. 的核心运营主体，面向全球客户提供多领域专业咨询服务，覆盖财务会计、信息管理、治理风险合规、人力资本、法务监管、企业咨询与重组、战略传播以及供应链管理等板块。
PX vs RGP — 直观对比
营收规模更大
RGP
是对方的1.5倍
$81.0M
营收增速更快
PX
高出14.5%
-19.2%
净利率更高
PX
高出22.4%
-10.8%
自由现金流更多
PX
多$2.5M
$15.6M
两年增速更快
PX
近两年复合增速
-11.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $81.0M | $117.7M |
| 净利润 | $9.5M | $-12.7M |
| 毛利率 | — | 37.1% |
| 营业利润率 | 31.9% | -10.3% |
| 净利率 | 11.7% | -10.8% |
| 营收同比 | -4.7% | -19.2% |
| 净利润同比 | 79.0% | 81.6% |
| 每股收益（稀释后） | $0.08 | $-0.38 |
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PXRGP
| Q4 25 | $81.0M | $117.7M | ||
| Q3 25 | $75.9M | $120.2M | ||
| Q2 25 | $72.7M | $139.3M | ||
| Q1 25 | $67.7M | $129.4M | ||
| Q4 24 | $85.0M | $145.6M | ||
| Q3 24 | $74.2M | $136.9M | ||
| Q2 24 | $71.1M | $148.2M | ||
| Q1 24 | $66.1M | $151.3M |
净利润PXRGP
| Q4 25 | $9.5M | $-12.7M | ||
| Q3 25 | $2.1M | $-2.4M | ||
| Q2 25 | $3.4M | $-73.3M | ||
| Q1 25 | $4.5M | $-44.1M | ||
| Q4 24 | $5.3M | $-68.7M | ||
| Q3 24 | $1.4M | $-5.7M | ||
| Q2 24 | $7.0M | $10.5M | ||
| Q1 24 | $5.0M | $2.5M |
毛利率PXRGP
| Q4 25 | — | 37.1% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | — | 40.2% | ||
| Q1 25 | — | 35.1% | ||
| Q4 24 | — | 38.5% | ||
| Q3 24 | — | 36.5% | ||
| Q2 24 | — | 40.2% | ||
| Q1 24 | — | 37.0% |
营业利润率PXRGP
| Q4 25 | 31.9% | -10.3% | ||
| Q3 25 | 14.1% | -1.7% | ||
| Q2 25 | 24.4% | -47.0% | ||
| Q1 25 | 16.6% | -38.4% | ||
| Q4 24 | 26.9% | -52.7% | ||
| Q3 24 | 11.9% | -3.5% | ||
| Q2 24 | 23.7% | 7.6% | ||
| Q1 24 | 18.3% | 2.8% |
净利率PXRGP
| Q4 25 | 11.7% | -10.8% | ||
| Q3 25 | 2.8% | -2.0% | ||
| Q2 25 | 4.7% | -52.6% | ||
| Q1 25 | 6.7% | -34.0% | ||
| Q4 24 | 6.2% | -47.2% | ||
| Q3 24 | 1.9% | -4.2% | ||
| Q2 24 | 9.8% | 7.1% | ||
| Q1 24 | 7.6% | 1.7% |
每股收益（稀释后）PXRGP
| Q4 25 | $0.08 | $-0.38 | ||
| Q3 25 | $0.02 | $-0.07 | ||
| Q2 25 | $0.03 | $-2.21 | ||
| Q1 25 | $0.04 | $-1.34 | ||
| Q4 24 | $0.05 | $-2.08 | ||
| Q3 24 | $0.01 | $-0.17 | ||
| Q2 24 | $0.06 | $0.31 | ||
| Q1 24 | $0.04 | $0.08 |
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 | $28.2M | $89.8M |
| 总债务越低越好 | $373.2M | — |
| 股东权益账面价值 | $403.5M | $194.6M |
| 总资产 | $928.3M | $289.3M |
| 负债/权益比越低杠杆越低 | 0.93× | — |
8季度趋势，按日历期对齐
现金及短期投资PXRGP
| Q4 25 | $28.2M | $89.8M | ||
| Q3 25 | $40.0M | $77.5M | ||
| Q2 25 | $33.4M | $86.1M | ||
| Q1 25 | $74.4M | $72.5M | ||
| Q4 24 | $67.5M | $78.2M | ||
| Q3 24 | $61.5M | $89.6M | ||
| Q2 24 | $31.2M | $108.9M | ||
| Q1 24 | $29.0M | $113.8M |
总债务PXRGP
| Q4 25 | $373.2M | — | ||
| Q3 25 | $393.4M | — | ||
| Q2 25 | $373.0M | — | ||
| Q1 25 | $357.2M | — | ||
| Q4 24 | $319.8M | — | ||
| Q3 24 | $319.4M | — | ||
| Q2 24 | $300.6M | — | ||
| Q1 24 | $314.0M | — |
股东权益PXRGP
| Q4 25 | $403.5M | $194.6M | ||
| Q3 25 | $396.8M | $206.4M | ||
| Q2 25 | $388.9M | $207.1M | ||
| Q1 25 | $374.3M | $277.8M | ||
| Q4 24 | $386.9M | $325.7M | ||
| Q3 24 | $394.1M | $407.2M | ||
| Q2 24 | $396.9M | $418.8M | ||
| Q1 24 | $400.1M | $414.9M |
总资产PXRGP
| Q4 25 | $928.3M | $289.3M | ||
| Q3 25 | $936.0M | $287.2M | ||
| Q2 25 | $932.2M | $304.7M | ||
| Q1 25 | $877.4M | $375.6M | ||
| Q4 24 | $869.3M | $424.9M | ||
| Q3 24 | $857.0M | $512.9M | ||
| Q2 24 | $823.2M | $510.9M | ||
| Q1 24 | $832.8M | $523.2M |
负债/权益比PXRGP
| Q4 25 | 0.93× | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 0.96× | — | ||
| Q1 25 | 0.95× | — | ||
| Q4 24 | 0.83× | — | ||
| Q3 24 | 0.81× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.78× | — |
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 | $23.0M | $15.9M |
| 自由现金流经营现金流 - 资本支出 | $18.1M | $15.6M |
| 自由现金流率自由现金流/营收 | 22.3% | 13.2% |
| 资本支出强度资本支出/营收 | 6.0% | 0.3% |
| 现金转化率经营现金流/净利润 | 2.43× | — |
| 过去12个月自由现金流最近4个季度 | $14.1M | $24.3M |
8季度趋势，按日历期对齐
经营现金流PXRGP
| Q4 25 | $23.0M | $15.9M | ||
| Q3 25 | $-8.6M | $-7.8M | ||
| Q2 25 | $13.4M | $16.8M | ||
| Q1 25 | $-4.7M | $659.0K | ||
| Q4 24 | $101.0M | $1.8M | ||
| Q3 24 | $27.5M | $-309.0K | ||
| Q2 24 | $34.8M | $3.2M | ||
| Q1 24 | $11.0M | $20.5M |
自由现金流PXRGP
| Q4 25 | $18.1M | $15.6M | ||
| Q3 25 | $-9.5M | $-8.0M | ||
| Q2 25 | $11.6M | $16.5M | ||
| Q1 25 | $-6.0M | $238.0K | ||
| Q4 24 | $96.6M | $61.0K | ||
| Q3 24 | $25.2M | $-575.0K | ||
| Q2 24 | $33.9M | $3.0M | ||
| Q1 24 | $10.7M | $20.4M |
自由现金流率PXRGP
| Q4 25 | 22.3% | 13.2% | ||
| Q3 25 | -12.6% | -6.6% | ||
| Q2 25 | 15.9% | 11.8% | ||
| Q1 25 | -8.9% | 0.2% | ||
| Q4 24 | 113.6% | 0.0% | ||
| Q3 24 | 34.0% | -0.4% | ||
| Q2 24 | 47.7% | 2.1% | ||
| Q1 24 | 16.2% | 13.5% |
资本支出强度PXRGP
| Q4 25 | 6.0% | 0.3% | ||
| Q3 25 | 1.2% | 0.1% | ||
| Q2 25 | 2.5% | 0.2% | ||
| Q1 25 | 1.9% | 0.3% | ||
| Q4 24 | 5.2% | 1.2% | ||
| Q3 24 | 3.0% | 0.2% | ||
| Q2 24 | 1.3% | 0.1% | ||
| Q1 24 | 0.4% | 0.1% |
现金转化率PXRGP
| Q4 25 | 2.43× | — | ||
| Q3 25 | -4.01× | — | ||
| Q2 25 | 3.96× | — | ||
| Q1 25 | -1.05× | — | ||
| Q4 24 | 19.12× | — | ||
| Q3 24 | 19.54× | — | ||
| Q2 24 | 4.98× | 0.30× | ||
| Q1 24 | 2.18× | 8.04× |
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
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
RGP
| US | $93.7M | 80% |
| Non Us | $24.0M | 20% |
