vs
Q2 Holdings, Inc.（QTWO）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Q2 Holdings, Inc.的季度营收约是Rocket Lab Corp的1.2倍（$216.5M vs $179.7M），Q2 Holdings, Inc.净利率更高（12.3% vs -29.5%，领先41.8%），Rocket Lab Corp同比增速更快（35.7% vs 14.1%），Q2 Holdings, Inc.自由现金流更多（$44.2M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 11.9%）
Q2 Holdings是一家全球金融科技企业，主要开发云原生数字银行平台及解决方案，服务地区性银行、社区银行、信用合作社等金融机构，帮助其为个人及企业客户提供安全便捷的线上、移动端银行服务，核心市场覆盖北美。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
QTWO vs RKLB — 直观对比
营收规模更大
QTWO
是对方的1.2倍
$179.7M
营收增速更快
RKLB
高出21.6%
14.1%
净利率更高
QTWO
高出41.8%
-29.5%
自由现金流更多
QTWO
多$158.4M
$-114.2M
两年增速更快
RKLB
近两年复合增速
11.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $216.5M | $179.7M |
| 净利润 | $26.6M | $-52.9M |
| 毛利率 | 59.1% | 38.0% |
| 营业利润率 | 12.8% | -28.4% |
| 净利率 | 12.3% | -29.5% |
| 营收同比 | 14.1% | 35.7% |
| 净利润同比 | 460.5% | -1.1% |
| 每股收益（稀释后） | $0.40 | $-0.09 |
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QTWORKLB
| Q1 26 | $216.5M | — | ||
| Q4 25 | $208.2M | $179.7M | ||
| Q3 25 | $201.7M | $155.1M | ||
| Q2 25 | $195.1M | $144.5M | ||
| Q1 25 | $189.7M | $122.6M | ||
| Q4 24 | $183.0M | $132.4M | ||
| Q3 24 | $175.0M | $104.8M | ||
| Q2 24 | $172.9M | $106.3M |
净利润QTWORKLB
| Q1 26 | $26.6M | — | ||
| Q4 25 | $20.4M | $-52.9M | ||
| Q3 25 | $15.0M | $-18.3M | ||
| Q2 25 | $11.8M | $-66.4M | ||
| Q1 25 | $4.8M | $-60.6M | ||
| Q4 24 | $164.0K | $-52.3M | ||
| Q3 24 | $-11.8M | $-51.9M | ||
| Q2 24 | $-13.1M | $-41.6M |
毛利率QTWORKLB
| Q1 26 | 59.1% | — | ||
| Q4 25 | 55.4% | 38.0% | ||
| Q3 25 | 54.0% | 37.0% | ||
| Q2 25 | 53.6% | 32.1% | ||
| Q1 25 | 53.2% | 28.8% | ||
| Q4 24 | 52.6% | 27.8% | ||
| Q3 24 | 50.9% | 26.7% | ||
| Q2 24 | 50.2% | 25.6% |
营业利润率QTWORKLB
| Q1 26 | 12.8% | — | ||
| Q4 25 | 8.1% | -28.4% | ||
| Q3 25 | 5.5% | -38.0% | ||
| Q2 25 | 5.0% | -41.3% | ||
| Q1 25 | 1.2% | -48.3% | ||
| Q4 24 | -0.9% | -38.9% | ||
| Q3 24 | -7.3% | -49.5% | ||
| Q2 24 | -7.9% | -40.7% |
净利率QTWORKLB
| Q1 26 | 12.3% | — | ||
| Q4 25 | 9.8% | -29.5% | ||
| Q3 25 | 7.5% | -11.8% | ||
| Q2 25 | 6.0% | -46.0% | ||
| Q1 25 | 2.5% | -49.5% | ||
| Q4 24 | 0.1% | -39.5% | ||
| Q3 24 | -6.7% | -49.6% | ||
| Q2 24 | -7.6% | -39.2% |
每股收益（稀释后）QTWORKLB
| Q1 26 | $0.40 | — | ||
| Q4 25 | $0.32 | $-0.09 | ||
| Q3 25 | $0.23 | $-0.03 | ||
| Q2 25 | $0.18 | $-0.13 | ||
| Q1 25 | $0.07 | $-0.12 | ||
| Q4 24 | $0.01 | $-0.11 | ||
| Q3 24 | $-0.20 | $-0.10 | ||
| Q2 24 | $-0.22 | $-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 | $342.3M | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | $611.7M | $1.7B |
| 总资产 | $1.2B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资QTWORKLB
| Q1 26 | $342.3M | — | ||
| Q4 25 | $432.7M | $1.0B | ||
| Q3 25 | $568.7M | $976.7M | ||
| Q2 25 | $532.1M | $688.1M | ||
| Q1 25 | $486.0M | $428.4M | ||
| Q4 24 | $446.6M | $419.0M | ||
| Q3 24 | $407.9M | $442.4M | ||
| Q2 24 | $372.1M | $496.8M |
总债务QTWORKLB
| Q1 26 | — | — | ||
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M |
股东权益QTWORKLB
| Q1 26 | $611.7M | — | ||
| Q4 25 | $661.8M | $1.7B | ||
| Q3 25 | $622.9M | $1.3B | ||
| Q2 25 | $584.3M | $688.5M | ||
| Q1 25 | $545.5M | $431.3M | ||
| Q4 24 | $517.8M | $382.5M | ||
| Q3 24 | $495.1M | $419.8M | ||
| Q2 24 | $480.7M | $455.2M |
总资产QTWORKLB
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.3B | $2.3B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $1.4B | $1.6B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.2B | $1.2B |
负债/权益比QTWORKLB
| Q1 26 | — | — | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× |
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 | $56.3M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $44.2M | $-114.2M |
| 自由现金流率自由现金流/营收 | 20.4% | -63.6% |
| 资本支出强度资本支出/营收 | — | 27.6% |
| 现金转化率经营现金流/净利润 | 2.11× | — |
| 过去12个月自由现金流最近4个季度 | $196.1M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流QTWORKLB
| Q1 26 | $56.3M | — | ||
| Q4 25 | $63.7M | $-64.5M | ||
| Q3 25 | $45.6M | $-23.5M | ||
| Q2 25 | $48.6M | $-23.2M | ||
| Q1 25 | $43.5M | $-54.2M | ||
| Q4 24 | $43.0M | $-2.4M | ||
| Q3 24 | $43.3M | $-30.9M | ||
| Q2 24 | $36.0M | $-13.0M |
自由现金流QTWORKLB
| Q1 26 | $44.2M | — | ||
| Q4 25 | $61.7M | $-114.2M | ||
| Q3 25 | $42.9M | $-69.4M | ||
| Q2 25 | $47.3M | $-55.3M | ||
| Q1 25 | $42.7M | $-82.9M | ||
| Q4 24 | $41.6M | $-23.9M | ||
| Q3 24 | $40.9M | $-41.9M | ||
| Q2 24 | $34.6M | $-28.3M |
自由现金流率QTWORKLB
| Q1 26 | 20.4% | — | ||
| Q4 25 | 29.6% | -63.6% | ||
| Q3 25 | 21.3% | -44.8% | ||
| Q2 25 | 24.3% | -38.3% | ||
| Q1 25 | 22.5% | -67.6% | ||
| Q4 24 | 22.7% | -18.1% | ||
| Q3 24 | 23.3% | -40.0% | ||
| Q2 24 | 20.0% | -26.7% |
资本支出强度QTWORKLB
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 27.6% | ||
| Q3 25 | 1.3% | 29.6% | ||
| Q2 25 | 0.7% | 22.2% | ||
| Q1 25 | 0.4% | 23.4% | ||
| Q4 24 | 0.8% | 16.3% | ||
| Q3 24 | 1.4% | 10.5% | ||
| Q2 24 | 0.8% | 14.4% |
现金转化率QTWORKLB
| Q1 26 | 2.11× | — | ||
| Q4 25 | 3.12× | — | ||
| Q3 25 | 3.03× | — | ||
| Q2 25 | 4.13× | — | ||
| Q1 25 | 9.16× | — | ||
| Q4 24 | 262.41× | — | ||
| Q3 24 | — | — | ||
| Q2 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
QTWO
| Subscription | $179.9M | 83% |
| Services and Other | $18.8M | 9% |
| Transactional | $17.8M | 8% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
