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P10, Inc.（PX）与null（SWIM）财务数据对比。点击上方公司名可切换其他公司
null的季度营收约是P10, Inc.的1.2倍（$100.0M vs $81.0M），P10, Inc.净利率更高（11.7% vs -7.0%，领先18.7%），null同比增速更快（14.5% vs -4.7%），P10, Inc.自由现金流更多（$18.1M vs $14.1M），过去两年P10, Inc.的营收复合增速更高（10.7% vs -4.9%）
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。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
PX vs SWIM — 直观对比
营收规模更大
SWIM
是对方的1.2倍
$81.0M
营收增速更快
SWIM
高出19.2%
-4.7%
净利率更高
PX
高出18.7%
-7.0%
自由现金流更多
PX
多$4.0M
$14.1M
两年增速更快
PX
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $81.0M | $100.0M |
| 净利润 | $9.5M | $-7.0M |
| 毛利率 | — | 28.0% |
| 营业利润率 | 31.9% | -10.7% |
| 净利率 | 11.7% | -7.0% |
| 营收同比 | -4.7% | 14.5% |
| 净利润同比 | 79.0% | 76.0% |
| 每股收益（稀释后） | $0.08 | $-0.06 |
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PXSWIM
| Q4 25 | $81.0M | $100.0M | ||
| Q3 25 | $75.9M | $161.9M | ||
| Q2 25 | $72.7M | $172.6M | ||
| Q1 25 | $67.7M | $111.4M | ||
| Q4 24 | $85.0M | $87.3M | ||
| Q3 24 | $74.2M | $150.5M | ||
| Q2 24 | $71.1M | $160.1M | ||
| Q1 24 | $66.1M | $110.6M |
净利润PXSWIM
| Q4 25 | $9.5M | $-7.0M | ||
| Q3 25 | $2.1M | $8.1M | ||
| Q2 25 | $3.4M | $16.0M | ||
| Q1 25 | $4.5M | $-6.0M | ||
| Q4 24 | $5.3M | $-29.2M | ||
| Q3 24 | $1.4M | $5.9M | ||
| Q2 24 | $7.0M | $13.3M | ||
| Q1 24 | $5.0M | $-7.9M |
毛利率PXSWIM
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
营业利润率PXSWIM
| Q4 25 | 31.9% | -10.7% | ||
| Q3 25 | 14.1% | 13.3% | ||
| Q2 25 | 24.4% | 14.3% | ||
| Q1 25 | 16.6% | -4.4% | ||
| Q4 24 | 26.9% | -14.9% | ||
| Q3 24 | 11.9% | 8.9% | ||
| Q2 24 | 23.7% | 12.5% | ||
| Q1 24 | 18.3% | -1.9% |
净利率PXSWIM
| Q4 25 | 11.7% | -7.0% | ||
| Q3 25 | 2.8% | 5.0% | ||
| Q2 25 | 4.7% | 9.3% | ||
| Q1 25 | 6.7% | -5.4% | ||
| Q4 24 | 6.2% | -33.4% | ||
| Q3 24 | 1.9% | 3.9% | ||
| Q2 24 | 9.8% | 8.3% | ||
| Q1 24 | 7.6% | -7.1% |
每股收益（稀释后）PXSWIM
| Q4 25 | $0.08 | $-0.06 | ||
| Q3 25 | $0.02 | $0.07 | ||
| Q2 25 | $0.03 | $0.13 | ||
| Q1 25 | $0.04 | $-0.05 | ||
| Q4 24 | $0.05 | $-0.24 | ||
| Q3 24 | $0.01 | $0.05 | ||
| Q2 24 | $0.06 | $0.11 | ||
| Q1 24 | $0.04 | $-0.07 |
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 | — |
| 总债务越低越好 | $373.2M | $279.8M |
| 股东权益账面价值 | $403.5M | $405.9M |
| 总资产 | $928.3M | $823.2M |
| 负债/权益比越低杠杆越低 | 0.93× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资PXSWIM
| Q4 25 | $28.2M | — | ||
| Q3 25 | $40.0M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $74.4M | — | ||
| Q4 24 | $67.5M | — | ||
| Q3 24 | $61.5M | — | ||
| Q2 24 | $31.2M | — | ||
| Q1 24 | $29.0M | — |
总债务PXSWIM
| Q4 25 | $373.2M | $279.8M | ||
| Q3 25 | $393.4M | $281.1M | ||
| Q2 25 | $373.0M | $281.5M | ||
| Q1 25 | $357.2M | $306.9M | ||
| Q4 24 | $319.8M | $281.5M | ||
| Q3 24 | $319.4M | $282.8M | ||
| Q2 24 | $300.6M | $282.4M | ||
| Q1 24 | $314.0M | $282.8M |
股东权益PXSWIM
| Q4 25 | $403.5M | $405.9M | ||
| Q3 25 | $396.8M | $408.4M | ||
| Q2 25 | $388.9M | $398.4M | ||
| Q1 25 | $374.3M | $381.1M | ||
| Q4 24 | $386.9M | $387.2M | ||
| Q3 24 | $394.1M | $416.6M | ||
| Q2 24 | $396.9M | $408.1M | ||
| Q1 24 | $400.1M | $391.8M |
总资产PXSWIM
| Q4 25 | $928.3M | $823.2M | ||
| Q3 25 | $936.0M | $844.4M | ||
| Q2 25 | $932.2M | $822.1M | ||
| Q1 25 | $877.4M | $824.6M | ||
| Q4 24 | $869.3M | $794.2M | ||
| Q3 24 | $857.0M | $853.4M | ||
| Q2 24 | $823.2M | $830.0M | ||
| Q1 24 | $832.8M | $808.6M |
负债/权益比PXSWIM
| Q4 25 | 0.93× | 0.69× | ||
| Q3 25 | 0.99× | 0.69× | ||
| Q2 25 | 0.96× | 0.71× | ||
| Q1 25 | 0.95× | 0.81× | ||
| Q4 24 | 0.83× | 0.73× | ||
| Q3 24 | 0.81× | 0.68× | ||
| Q2 24 | 0.76× | 0.69× | ||
| Q1 24 | 0.78× | 0.72× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $18.1M | $14.1M |
| 自由现金流率自由现金流/营收 | 22.3% | 14.1% |
| 资本支出强度资本支出/营收 | 6.0% | 9.2% |
| 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 | $38.0M |
8季度趋势，按日历期对齐
经营现金流PXSWIM
| Q4 25 | $23.0M | $23.3M | ||
| Q3 25 | $-8.6M | $51.0M | ||
| Q2 25 | $13.4M | $36.0M | ||
| Q1 25 | $-4.7M | $-46.9M | ||
| Q4 24 | $101.0M | $6.2M | ||
| Q3 24 | $27.5M | $37.2M | ||
| Q2 24 | $34.8M | $52.4M | ||
| Q1 24 | $11.0M | $-34.5M |
自由现金流PXSWIM
| Q4 25 | $18.1M | $14.1M | ||
| Q3 25 | $-9.5M | $45.2M | ||
| Q2 25 | $11.6M | $29.1M | ||
| Q1 25 | $-6.0M | $-50.3M | ||
| Q4 24 | $96.6M | $-98.0K | ||
| Q3 24 | $25.2M | $33.2M | ||
| Q2 24 | $33.9M | $47.9M | ||
| Q1 24 | $10.7M | $-39.9M |
自由现金流率PXSWIM
| Q4 25 | 22.3% | 14.1% | ||
| Q3 25 | -12.6% | 27.9% | ||
| Q2 25 | 15.9% | 16.8% | ||
| Q1 25 | -8.9% | -45.2% | ||
| Q4 24 | 113.6% | -0.1% | ||
| Q3 24 | 34.0% | 22.1% | ||
| Q2 24 | 47.7% | 29.9% | ||
| Q1 24 | 16.2% | -36.0% |
资本支出强度PXSWIM
| Q4 25 | 6.0% | 9.2% | ||
| Q3 25 | 1.2% | 3.6% | ||
| Q2 25 | 2.5% | 4.0% | ||
| Q1 25 | 1.9% | 3.1% | ||
| Q4 24 | 5.2% | 7.2% | ||
| Q3 24 | 3.0% | 2.7% | ||
| Q2 24 | 1.3% | 2.8% | ||
| Q1 24 | 0.4% | 4.8% |
现金转化率PXSWIM
| Q4 25 | 2.43× | — | ||
| Q3 25 | -4.01× | 6.29× | ||
| Q2 25 | 3.96× | 2.25× | ||
| Q1 25 | -1.05× | — | ||
| Q4 24 | 19.12× | — | ||
| Q3 24 | 19.54× | 6.32× | ||
| Q2 24 | 4.98× | 3.95× | ||
| Q1 24 | 2.18× | — |
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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
