vs
Red Cat Holdings, Inc.（RCAT）与SHOPIFY INC.（SHOP）财务数据对比。点击上方公司名可切换其他公司
SHOPIFY INC.的季度营收约是Red Cat Holdings, Inc.的380.7倍（$3.7B vs $9.6M）。SHOPIFY INC.净利率更高（20.2% vs -166.0%，领先186.3%）。Red Cat Holdings, Inc.同比增速更快（988.2% vs 30.6%）。SHOPIFY INC.自由现金流更多（$715.0M vs $-24.5M）。过去两年Red Cat Holdings, Inc.的营收复合增速更高（457.0% vs 40.5%）
Mega Cat Studios是一家总部位于美国宾夕法尼亚州匹兹堡的电子游戏开发与发行企业，由詹姆斯·迪根、尼克·曼恩和扎克·曼科于2015年共同创立，专注于游戏内容的研发与全球发行布局。
Shopify是总部位于加拿大安大略省渥太华的跨国电商企业，运营零售POS系统及相关服务平台，全球客户超500万，2024年总交易处理额达2923亿美元，其中57%来自美国市场，服务客户包括特斯拉、路威酩轩、雀巢、百事、百威英博、红牛、凯悦等知名品牌。
RCAT vs SHOP — 直观对比
营收规模更大
SHOP
是对方的380.7倍
$9.6M
营收增速更快
RCAT
高出957.6%
30.6%
净利率更高
SHOP
高出186.3%
-166.0%
自由现金流更多
SHOP
多$739.5M
$-24.5M
两年增速更快
RCAT
近两年复合增速
40.5%
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $9.6M | $3.7B |
| 净利润 | $-16.0M | $743.0M |
| 毛利率 | 6.6% | 46.1% |
| 营业利润率 | -181.7% | 17.2% |
| 净利率 | -166.0% | 20.2% |
| 营收同比 | 988.2% | 30.6% |
| 净利润同比 | -29.0% | -42.5% |
| 每股收益（稀释后） | $-0.16 | $0.58 |
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RCATSHOP
| Q4 25 | — | $3.7B | ||
| Q3 25 | $9.6M | $2.8B | ||
| Q2 25 | $1.1M | $2.7B | ||
| Q1 25 | $1.6M | $2.4B | ||
| Q4 24 | $0 | $2.8B | ||
| Q3 24 | $886.4K | $2.2B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | $5.8M | $1.9B |
净利润RCATSHOP
| Q4 25 | — | $743.0M | ||
| Q3 25 | $-16.0M | $264.0M | ||
| Q2 25 | $-13.3M | $906.0M | ||
| Q1 25 | $-23.1M | $-682.0M | ||
| Q4 24 | $-13.3M | $1.3B | ||
| Q3 24 | $-12.4M | $828.0M | ||
| Q2 24 | — | $171.0M | ||
| Q1 24 | $-5.5M | $-273.0M |
毛利率RCATSHOP
| Q4 25 | — | 46.1% | ||
| Q3 25 | 6.6% | 48.9% | ||
| Q2 25 | 33.2% | 48.6% | ||
| Q1 25 | -52.2% | 49.5% | ||
| Q4 24 | — | 48.1% | ||
| Q3 24 | -54.5% | 51.7% | ||
| Q2 24 | — | 51.1% | ||
| Q1 24 | 18.8% | 51.4% |
营业利润率RCATSHOP
| Q4 25 | — | 17.2% | ||
| Q3 25 | -181.7% | 12.1% | ||
| Q2 25 | -1120.9% | 10.9% | ||
| Q1 25 | -765.7% | 8.6% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | -1400.7% | 13.1% | ||
| Q2 24 | — | 11.8% | ||
| Q1 24 | -76.0% | 4.6% |
净利率RCATSHOP
| Q4 25 | — | 20.2% | ||
| Q3 25 | -166.0% | 9.3% | ||
| Q2 25 | -1176.9% | 33.8% | ||
| Q1 25 | -1418.9% | -28.9% | ||
| Q4 24 | — | 46.0% | ||
| Q3 24 | -1400.7% | 38.3% | ||
| Q2 24 | — | 8.4% | ||
| Q1 24 | -93.9% | -14.7% |
每股收益（稀释后）RCATSHOP
| Q4 25 | — | $0.58 | ||
| Q3 25 | $-0.16 | $0.20 | ||
| Q2 25 | $-0.15 | $0.69 | ||
| Q1 25 | $-0.27 | $-0.53 | ||
| Q4 24 | — | $0.99 | ||
| Q3 24 | — | $0.64 | ||
| Q2 24 | — | $0.13 | ||
| Q1 24 | — | $-0.21 |
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 | — | $5.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $253.3M | $13.5B |
| 总资产 | $286.0M | $15.2B |
| 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RCATSHOP
| Q4 25 | — | $5.8B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $5.8B | ||
| Q1 25 | — | $5.5B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益RCATSHOP
| Q4 25 | — | $13.5B | ||
| Q3 25 | $253.3M | $12.5B | ||
| Q2 25 | $95.6M | $12.1B | ||
| Q1 25 | $28.9M | $11.1B | ||
| Q4 24 | $27.0M | $11.6B | ||
| Q3 24 | $32.5M | $10.1B | ||
| Q2 24 | — | $9.2B | ||
| Q1 24 | $49.6M | $8.9B |
总资产RCATSHOP
| Q4 25 | — | $15.2B | ||
| Q3 25 | $286.0M | $15.0B | ||
| Q2 25 | $121.4M | $14.6B | ||
| Q1 25 | $59.7M | $13.4B | ||
| Q4 24 | $51.1M | $13.9B | ||
| Q3 24 | $38.0M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $55.3M | — |
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 | $-23.9M | $725.0M |
| 自由现金流经营现金流 - 资本支出 | $-24.5M | $715.0M |
| 自由现金流率自由现金流/营收 | -254.2% | 19.5% |
| 资本支出强度资本支出/营收 | 6.9% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 0.98× |
| 过去12个月自由现金流最近4个季度 | $-64.1M | $2.0B |
8季度趋势，按日历期对齐
经营现金流RCATSHOP
| Q4 25 | — | $725.0M | ||
| Q3 25 | $-23.9M | $513.0M | ||
| Q2 25 | $-12.9M | $428.0M | ||
| Q1 25 | $-15.9M | $367.0M | ||
| Q4 24 | $-10.1M | $615.0M | ||
| Q3 24 | $-2.3M | $423.0M | ||
| Q2 24 | — | $340.0M | ||
| Q1 24 | $-4.1M | $238.0M |
自由现金流RCATSHOP
| Q4 25 | — | $715.0M | ||
| Q3 25 | $-24.5M | $507.0M | ||
| Q2 25 | $-13.2M | $422.0M | ||
| Q1 25 | $-16.2M | $363.0M | ||
| Q4 24 | $-10.2M | $611.0M | ||
| Q3 24 | $-2.4M | $421.0M | ||
| Q2 24 | — | $333.0M | ||
| Q1 24 | $-4.2M | $232.0M |
自由现金流率RCATSHOP
| Q4 25 | — | 19.5% | ||
| Q3 25 | -254.2% | 17.8% | ||
| Q2 25 | -1170.2% | 15.7% | ||
| Q1 25 | -992.9% | 15.4% | ||
| Q4 24 | — | 21.7% | ||
| Q3 24 | -276.2% | 19.5% | ||
| Q2 24 | — | 16.3% | ||
| Q1 24 | -71.1% | 12.5% |
资本支出强度RCATSHOP
| Q4 25 | — | 0.3% | ||
| Q3 25 | 6.9% | 0.2% | ||
| Q2 25 | 27.2% | 0.2% | ||
| Q1 25 | 16.8% | 0.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 11.3% | 0.1% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | 0.8% | 0.3% |
现金转化率RCATSHOP
| Q4 25 | — | 0.98× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 1.99× | ||
| 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
RCAT
| Products | $8.5M | 88% |
| Services | $1.2M | 12% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
