财务数据
金额单位：亿美元；每股数据：美元；股数：亿股。* 为推导值（如第四季度 = 全年 − 前三季度；半年报公司的下半年 = 全年 − 上半年），悬停任一数字可查看来源（XBRL 标签 / PDF 页码 / 计算公式）。
年度营收（亿美元）
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| FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|
| 营业收入 | 6.0 | 7.4 | 10.9 | 15.4 | 19.1 | 22.3 | 28.7 | 44.8 |
年度利润（亿美元）
营业利润净利润
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| FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|
| 营业利润 | -6.2 | -5.8 | -11.7 | -4.1 | -1.6 | 1.2 | 3.1 | 14.1 |
| 净利润 | -5.8 | -5.8 | -11.7 | -5.2 | -3.7 | 2.1 | 4.6 | 16.3 |
市盈率对比：表观 vs 实际（倍，按当前市值折算）
表观市盈率（账面口径）实际市盈率（主业口径）
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| FY24 | FY25 | TTM | |
|---|---|---|---|
| 表观市盈率（账面口径） | 958.6x | 272.7x | 146.9x |
| 实际市盈率（主业口径） | 319.9x | 171.4x |
最新滚动 12 个月（FY2025Q3–FY2026Q2）：总市值 4,430.7 亿美元；账面净利润 30.2 亿美元 → 表观市盈率 146.9x；剔除税后非主业净收益 4.3 亿美元（投资/股权及利息等营业外收支税前 4.4 亿，有效税率 1.3%）后，实际主业盈利 25.9 亿美元 → 实际市盈率 171.4x（表观市盈率被非主业收益拉低 24.5x）。
年度账面盈利 vs 实际主业盈利（亿美元，含 TTM）
账面净利润实际主业盈利
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| FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 账面净利润 | -5.8 | -5.8 | -11.7 | -5.2 | -3.7 | 2.1 | 4.6 | 16.3 | 30.2 |
| 实际主业盈利 | -6.2 | -5.8 | -11.7 | -4.1 | -1.6 | 1.0 | 2.9 | 13.9 | 25.9 |
年度利润率
毛利率营业利润率税后营业利润率净利率
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| FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|
| 毛利率 | 72.2% | 67.4% | 67.7% | 78.0% | 78.6% | 80.6% | 80.2% | 82.4% |
| 营业利润率 | -104.7% | -77.6% | -107.4% | -26.7% | -8.5% | 5.4% | 10.8% | 31.6% |
| 税后营业利润率 | 4.9% | 10.4% | 31.2% | |||||
| 净利率 | -97.4% | -78.1% | -106.7% | -33.7% | -19.6% | 9.4% | 16.1% | 36.3% |
净利率受营业外收支影响大（营业外收支占税前利润：FY23 49.4%、FY24 36.5%），这部分（投资收益、公允价值变动、利息等）不反映主业；看经营盈利用税后营业利润率（营业利润按当期有效税率扣税后 ÷ 营收）。
资本开支与自由现金流（亿美元）
资本开支自由现金流
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| FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|
| 资本开支 | 0.1 | 0.1 | 0.1 | 0.1 | 0.4 | 0.2 | 0.1 | 0.3 |
| 自由现金流 | -0.5 | -1.8 | -3.1 | 3.2 | 1.8 | 7.0 | 11.4 | 21.0 |
年度ROE 与 ROIC
ROEROIC三年增量 ROIC
查看数据表
| FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|
| ROE | 35.7% | 31.1% | 509.2% | -27.3% | -15.4% | 6.9% | 10.9% | 26.2% |
| ROIC | 22.1% | 399.3% | -122998.8% | 498.9% | 4.2% | 10.2% | 23.4% | |
| 三年增量 ROIC | 25.3% |
FY2025 ROIC 23.4% = 税后营业利润（NOPAT）13.9 亿美元 ÷ 投入资本 59.6 亿美元（杜邦拆解：税后营业利润率 31.2% × 投入资本周转率 0.75x）。
年度税后营业利润（NOPAT）与投入资本（亿美元）
税后营业利润（NOPAT）投入资本
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| FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|
| 税后营业利润（NOPAT） | -6.3 | -5.9 | -11.6 | -4.4 | -1.7 | 1.1 | 3.0 | 13.9 |
| 投入资本 | -26.6 | -2.9 | 0.0 | -0.3 | 26.4 | 29.0 | 59.6 |
| 科目 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| 利润表 | ||||||||
| 营业收入IS_REVENUE | 6.0 | 7.4 | 10.9 | 15.4 | 19.1 | 22.3 | 28.7 | 44.8 |
| 营业成本IS_COGS | 1.7 | 2.4 | 3.5 | 3.4 | 4.1 | 4.3 | 5.7 | 7.9 |
| 毛利IS_GROSS_PROFIT | 4.3 | 5.0 | 7.4 | 12.0 | 15.0 | 17.9 | 23.0 | 36.9 |
| 研发费用IS_RND | 2.9 | 3.1 | 5.6 | 3.9 | 3.6 | 4.0 | 5.1 | 5.6 |
| 营业费用IS_OPEX | 10.5 | 10.8 | 19.1 | 16.1 | 16.6 | 16.7 | 19.9 | 22.7 |
| 营业利润IS_OPERATING_PROFIT | -6.2 | -5.8 | -11.7 | -4.1 | -1.6 | 1.2 | 3.1 | 14.1 |
| 税前利润IS_PRETAX_PROFIT | -5.7 | -5.7 | -11.8 | -4.9 | -3.6 | 2.4 | 4.9 | 16.6 |
| 所得税IS_TAX | 0.1 | 0.1 | -0.1 | 0.3 | 0.1 | 0.2 | 0.2 | 0.2 |
| 净利润IS_NET_PROFIT | -5.8 | -5.8 | -11.7 | -5.2 | -3.7 | 2.1 | 4.6 | 16.3 |
| 基本每股收益IS_EPS_BASIC | -1.11 | -1.02 | -1.19 | -0.27 | -0.18 | 0.10 | 0.21 | 0.69 |
| 摊薄每股收益IS_EPS_DILUTED | -1.17 | -1.02 | -1.20 | -0.27 | -0.18 | 0.09 | 0.19 | 0.63 |
| 基本加权股数IS_SHARES_BASIC | 5.37 | 5.77 | 9.78 | 19.24 | 20.64 | 21.47 | 22.50 | 23.70 |
| 摊薄加权股数IS_SHARES_DILUTED | 5.44 | 5.77 | 9.79 | 19.24 | 20.64 | 22.98 | 24.51 | 25.65 |
| 资产负债表 | ||||||||
| 总资产BS_TOTAL_ASSETS | 15.9 | 26.9 | 32.5 | 34.6 | 45.2 | 63.4 | 89.0 | |
| 流动资产BS_CURRENT_ASSETS | 12.1 | 22.6 | 28.6 | 30.4 | 41.4 | 59.3 | 83.6 | |
| 现金及等价物BS_CASH | 11.2 | 10.8 | 20.1 | 22.9 | 26.0 | 8.3 | 21.0 | 14.2 |
| 短期投资（有价证券/定期存款）BS_ST_INVESTMENTS | 2.3 | 0.4 | 28.4 | 31.3 | 57.5 | |||
| 应收账款BS_AR | 0.5 | 1.6 | 1.9 | 2.6 | 3.6 | 5.8 | 10.4 | |
| 固定资产净值BS_PPE_NET | 0.3 | 0.3 | 0.3 | 0.7 | 0.5 | 0.4 | 0.5 | |
| 在建工程BS_CIP | 0.0 | |||||||
| 长期股权及金融资产投资BS_EQUITY_INVESTMENTS | 0.2 | 0.3 | 0.6 | 1.7 | ||||
| 总负债BS_TOTAL_LIABILITIES | 14.5 | 11.7 | 9.6 | 8.2 | 9.6 | 12.5 | 14.1 | |
| 流动负债BS_CURRENT_LIABILITIES | 7.3 | 6.0 | 6.6 | 5.9 | 7.5 | 10.0 | 11.8 | |
| 应付账款BS_AP | 0.5 | 0.2 | 0.7 | 0.4 | 0.1 | 0.0 | 0.1 | |
| 合同负债BS_CONTRACT_LIAB | 1.9 | 1.9 | 2.3 | 1.8 | 2.5 | 2.6 | 4.1 | |
| 长期借款BS_LT_DEBT | 4.0 | 2.0 | 0.0 | |||||
| 股东权益BS_TOTAL_EQUITY | -17.5 | -19.8 | 15.2 | 22.9 | 25.7 | 34.8 | 50.0 | 73.9 |
| 剩余履约义务（RPO）BS_RPO | 6.0 | 11.0 | 9.7 | 12.0 | 17.0 | 41.0 | ||
| 少数股东权益BS_MINORITY_INTEREST | 0.0 | 0.8 | 0.9 | 0.9 | 1.0 | |||
| 现金流量表 | ||||||||
| 经营活动现金流CF_OPERATING | -0.4 | -1.7 | -3.0 | 3.3 | 2.2 | 7.1 | 11.5 | 21.3 |
| 折旧摊销CF_DEPRECIATION | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 | 0.3 | 0.3 |
| 股权激励费用CF_SBC | 2.5 | 2.4 | 12.7 | 7.8 | 5.6 | 4.8 | 6.9 | 6.8 |
| 投资活动现金流CF_INVESTING | -0.1 | -0.2 | -0.1 | -4.0 | -0.5 | -27.1 | -3.4 | -27.8 |
| 资本开支CF_CAPEX | 0.1 | 0.1 | 0.1 | 0.1 | 0.4 | 0.2 | 0.1 | 0.3 |
| 经营租赁新增使用权资产（非现金）CF_OPLEASE_ADDITIONS | 0.2 | 0.3 | 0.3 | 0.3 | 0.6 | 0.4 | ||
| 筹资活动现金流CF_FINANCING | 0.5 | 3.2 | 10.4 | 3.1 | 0.9 | 2.2 | 4.6 | -0.3 |
| 回购CF_BUYBACK | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.6 | 0.7 |
| 财务指标 | ||||||||
| 毛利率GROSS_MARGIN | 72.2% | 67.4% | 67.7% | 78.0% | 78.6% | 80.6% | 80.2% | 82.4% |
| 营业利润率OPERATING_MARGIN | -104.7% | -77.6% | -107.4% | -26.7% | -8.5% | 5.4% | 10.8% | 31.6% |
| 净利率NET_MARGIN | -97.4% | -78.1% | -106.7% | -33.7% | -19.6% | 9.4% | 16.1% | 36.3% |
| 税后营业利润NOPAT | -6.3 | -5.9 | -11.6 | -4.4 | -1.7 | 1.1 | 3.0 | 13.9 |
| 税后营业利润率NOPAT_MARGIN | 4.9% | 10.4% | 31.2% | |||||
| 投入资本INVESTED_CAPITAL | -26.6 | -2.9 | 0.0 | -0.3 | 26.4 | 29.0 | 59.6 | |
| 投入资本周转率CAPITAL_TURNOVER | 4,331.15 | 0.84 | 0.99 | 0.75 | ||||
| ROEROE | 35.7% | 31.1% | 509.2% | -27.3% | -15.4% | 6.9% | 10.9% | 26.2% |
| ROICROIC | 22.1% | 399.3% | -122998.8% | 498.9% | 4.2% | 10.2% | 23.4% | |
| 三年增量 ROICINCREMENTAL_ROIC_3Y | 25.3% | |||||||
| 资产负债率DEBT_RATIO | 90.8% | 43.4% | 29.5% | 23.7% | 21.3% | 19.7% | 15.9% | |
| 经营现金流/净利润OCF_TO_PROFIT | 6.7% | 28.5% | 25.4% | -64.2% | -59.9% | 339.4% | 249.7% | 131.3% |
| 应计比率ACCRUAL_RATIO | -26.0% | -32.3% | -26.3% | -17.3% | -11.1% | -10.9% | -5.7% | |
| 营业外收支/税前利润NONOP_TO_PRETAX | 49.4% | 36.5% | 14.7% | |||||
| 自由现金流FCF | -0.5 | -1.8 | -3.1 | 3.2 | 1.8 | 7.0 | 11.4 | 21.0 |
| 自由现金流利润率FCF_MARGIN | -8.7% | -24.0% | -28.3% | 20.8% | 9.6% | 31.3% | 39.8% | 46.9% |
| 股权激励/营收SBC_TO_REVENUE | 41.7% | 32.6% | 116.3% | 50.5% | 29.6% | 21.4% | 24.1% | 15.3% |
| 扣股权激励自由现金流FCF_AFTER_SBC | -3.0 | -4.2 | -15.8 | -4.6 | -3.8 | 2.2 | 4.5 | 14.2 |
| 资本开支/折旧摊销CAPEX_TO_DA | 0.93 | 1.07 | 0.88 | 0.85 | 1.78 | 0.45 | 0.40 | 1.30 |
| 在建工程/固定资产净值CIP_TO_PPE | 10.0% | |||||||
| 固定资产周转率PPE_TURNOVER | 23.51 | 36.99 | 49.26 | 27.55 | 46.59 | 72.29 | 86.13 | |
| 总资产周转率ASSET_TURNOVER | 0.47 | 0.51 | 0.52 | 0.57 | 0.56 | 0.53 | 0.59 | |
| 权益乘数EQUITY_MULTIPLIER | 1.56 | 1.38 | 1.32 | 1.28 | 1.23 | |||
| 应收周转天数DSO | 24.7 | 52.4 | 45.2 | 49.5 | 59.8 | 73.2 | 85.0 | |
| 应付周转天数DPO | 77.9 | 16.9 | 80.6 | 40.0 | 10.3 | 0.1 | 3.7 | |
| 合同负债同比CONTRACT_LIAB_YOY | 1.8% | 20.2% | -19.5% | 34.7% | 5.2% | 57.5% | ||
| RPO 同比RPO_YOY | 84.1% | -11.6% | 23.4% | 41.7% | 141.2% | |||
| 所有者盈余OWNER_EARNINGS | -0.5 | -1.8 | -3.1 | 3.2 | 2.0 | 6.8 | 11.2 | 21.1 |
| 股东回报（派息+回购）SHAREHOLDER_RETURN | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.6 | 0.7 |
| 股东回报/自由现金流SHAREHOLDER_RETURN_TO_FCF | 0.0% | 0.0% | 0.0% | 5.6% | 3.6% | |||
| 稀释率DILUTION_RATE | 1.3% | 0.0% | 0.2% | 0.0% | 0.0% | 7.0% | 8.9% | 8.3% |
| 摊薄股数同比SHARES_DILUTED_CHANGE | 6.1% | 69.7% | 96.4% | 7.3% | 11.3% | 6.7% | 4.7% | |
| 摊薄 EPS 同比EPS_DILUTED_GROWTH | 111.1% | 231.6% | ||||||
勾稽校验（所示期间）：7 项，
1 项未通过
· FY2019 BS_BALANCE：期望 -5.3，实际 15.9，差 21.3 亿
季度营收（亿美元）
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| 23Q3 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 营业收入 | 5.6 | 6.1 | 6.3 | 6.8 | 7.3 | 8.3 | 8.8 | 10.0 | 11.8 | 14.1 | 16.3 | 19.4 |
季度利润（亿美元）
营业利润净利润
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| 23Q3 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 营业利润 | 0.4 | 0.7 | 0.8 | 1.1 | 1.1 | 0.1 | 1.8 | 2.7 | 3.9 | 5.8 | 7.5 | 9.1 |
| 净利润 | 0.7 | 0.9 | 1.1 | 1.3 | 1.4 | 0.8 | 2.1 | 3.3 | 4.8 | 6.1 | 8.7 | 10.6 |
滚动 TTM 市盈率对比：表观 vs 实际（倍，按当前市值折算）
表观市盈率（TTM）实际市盈率（TTM）
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| 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | |
|---|---|---|---|---|---|---|
| 表观市盈率（TTM） | 776.4x | 580.5x | 404.5x | 272.7x | 194.2x | 146.9x |
| 实际市盈率（TTM） | 532.2x | 319.9x | 226.6x | 171.4x |
季度账面盈利 vs 实际主业盈利（亿美元）
账面净利润实际主业盈利
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| 23Q3 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 账面净利润 | 0.7 | 0.9 | 1.1 | 1.3 | 1.4 | 0.8 | 2.1 | 3.3 | 4.8 | 6.1 | 8.7 | 10.6 |
| 实际主业盈利 | 0.3 | 0.6 | 0.8 | 1.0 | 1.0 | 0.1 | 1.7 | 2.6 | 3.9 | 5.6 | 7.4 | 8.9 |
季度利润率
毛利率营业利润率税后营业利润率净利率
查看数据表
| 23Q3 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 毛利率 | 80.7% | 82.1% | 81.7% | 81.0% | 79.8% | 78.9% | 80.4% | 80.8% | 82.4% | 84.6% | 86.8% | 84.7% |
| 营业利润率 | 7.2% | 10.8% | 12.8% | 15.5% | 15.6% | 1.3% | 19.9% | 26.8% | 33.3% | 40.9% | 46.2% | 47.1% |
| 税后营业利润率 | 6.6% | 9.9% | 12.2% | 15.0% | 14.8% | 1.3% | 19.4% | 26.5% | 33.0% | 40.3% | 45.6% | 46.5% |
| 净利率 | 12.8% | 15.4% | 16.6% | 19.8% | 19.8% | 9.5% | 24.2% | 32.6% | 40.3% | 43.3% | 53.3% | 54.9% |
净利率受营业外收支影响大（营业外收支占税前利润：23Q3 50.0%、23Q4 38.1%、24Q1 27.0%、24Q2 25.2%、24Q3 28.0%、24Q4 86.3%），这部分（投资收益、公允价值变动、利息等）不反映主业；看经营盈利用税后营业利润率（营业利润按当期有效税率扣税后 ÷ 营收）。
资本开支与自由现金流（亿美元）
资本开支自由现金流
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| 23Q3 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 资本开支 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| 自由现金流 | 1.3 | 3.0 | 1.3 | 1.4 | 4.2 | 4.6 | 3.0 | 5.3 | 5.0 | 7.6 | 8.9 | 12.0 |
季度ROE 与 ROIC
ROEROIC
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| 23Q3 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.2% | 2.7% | 2.8% | 3.3% | 3.2% | 1.6% | 3.9% | 5.5% | 7.2% | 8.2% | 10.3% | 10.9% |
| ROIC | 1.7% | 2.3% | 2.4% | 2.9% | 2.9% | 0.4% | 3.9% | 5.3% | 7.8% | 9.5% | 12.1% | 11.6% |
FY2026Q2 ROIC 11.6% = 税后营业利润（NOPAT）9.0 亿美元 ÷ 投入资本 77.4 亿美元（杜邦拆解：税后营业利润率 46.5% × 投入资本周转率 1.00x）。
季度税后营业利润（NOPAT）与投入资本（亿美元）
税后营业利润（NOPAT）投入资本
查看数据表
| 23Q3 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 税后营业利润（NOPAT） | 0.4 | 0.6 | 0.8 | 1.0 | 1.1 | 0.1 | 1.7 | 2.7 | 3.9 | 5.7 | 7.4 | 9.0 |
| 投入资本 | 21.5 | 26.4 | 32.5 | 35.4 | 37.3 | 29.0 | 44.3 | 50.0 | 49.7 | 59.6 | 61.6 | 77.4 |
| 科目 | 23Q3 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 利润表 | ||||||||||||
| 营业收入IS_REVENUE | 5.6 | 6.1 | 6.3 | 6.8 | 7.3 | 8.3 | 8.8 | 10.0 | 11.8 | 14.1 | 16.3 | 19.4 |
| 营业成本IS_COGS | 1.1 | 1.1 | 1.2 | 1.3 | 1.5 | 1.7 | 1.7 | 1.9 | 2.1 | 2.2 | 2.2 | 3.0 |
| 毛利IS_GROSS_PROFIT | 4.5 | 5.0 | 5.2 | 5.5 | 5.8 | 6.5 | 7.1 | 8.1 | 9.7 | 11.9 | 14.2 | 16.4 |
| 研发费用IS_RND | 1.1 | 1.1 | 1.1 | 1.1 | 1.2 | 1.7 | 1.3 | 1.4 | 1.4 | 1.4 | 1.6 | 1.9 |
| 营业费用IS_OPEX | 4.1 | 4.3 | 4.4 | 4.4 | 4.7 | 6.4 | 5.3 | 5.4 | 5.8 | 6.2 | 6.6 | 7.3 |
| 营业利润IS_OPERATING_PROFIT | 0.4 | 0.7 | 0.8 | 1.1 | 1.1 | 0.1 | 1.8 | 2.7 | 3.9 | 5.8 | 7.5 | 9.1 |
| 税前利润IS_PRETAX_PROFIT | 0.8 | 1.1 | 1.1 | 1.4 | 1.6 | 0.8 | 2.2 | 3.3 | 4.8 | 6.2 | 8.9 | 10.8 |
| 所得税IS_TAX | 0.1 | 0.1 | 0.0 | 0.1 | 0.1 | 0.0 | 0.1 | 0.0 | 0.0 | 0.1 | 0.1 | 0.2 |
| 净利润IS_NET_PROFIT | 0.7 | 0.9 | 1.1 | 1.3 | 1.4 | 0.8 | 2.1 | 3.3 | 4.8 | 6.1 | 8.7 | 10.6 |
| 基本每股收益IS_EPS_BASIC | 0.03 | 0.05 | 0.06 | 0.06 | 0.09 | 0.14 | 0.20 | 0.36 | 0.44 | |||
| 摊薄每股收益IS_EPS_DILUTED | 0.03 | 0.04 | 0.06 | 0.06 | 0.08 | 0.13 | 0.18 | 0.34 | 0.41 | |||
| 基本加权股数IS_SHARES_BASIC | 21.63 | 22.14 | 22.32 | 22.50 | 23.49 | 23.65 | 23.77 | 23.94 | 24.00 | |||
| 摊薄加权股数IS_SHARES_DILUTED | 23.26 | 24.00 | 24.15 | 24.60 | 25.53 | 25.63 | 25.71 | 25.71 | 25.69 | |||
| 资产负债表 | ||||||||||||
| 总资产BS_TOTAL_ASSETS | 41.9 | 45.2 | 48.1 | 51.9 | 57.7 | 63.4 | 67.4 | 73.7 | 81.1 | 89.0 | 102.0 | 116.8 |
| 流动资产BS_CURRENT_ASSETS | 38.1 | 41.4 | 44.4 | 47.7 | 53.5 | 59.3 | 62.8 | 68.9 | 75.9 | 83.6 | 95.5 | 111.0 |
| 现金及等价物BS_CASH | 10.4 | 8.3 | 5.2 | 5.1 | 7.7 | 21.0 | 9.9 | 9.3 | 16.2 | 14.2 | 22.9 | 20.3 |
| 短期投资（有价证券/定期存款）BS_ST_INVESTMENTS | 22.4 | 28.4 | 33.5 | 34.9 | 38.0 | 31.3 | 44.4 | 50.7 | 48.2 | 57.5 | 57.3 | 73.8 |
| 应收账款BS_AR | 4.3 | 3.6 | 4.9 | 6.6 | 6.7 | 5.8 | 7.3 | 7.5 | 10.1 | 10.4 | 14.1 | 14.9 |
| 固定资产净值BS_PPE_NET | 0.5 | 0.5 | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.6 | 0.6 |
| 长期股权及金融资产投资BS_EQUITY_INVESTMENTS | 0.3 | 0.4 | 0.5 | 0.5 | 0.6 | 1.0 | 1.2 | 1.6 | 1.7 | 2.4 | 1.7 | |
| 总负债BS_TOTAL_LIABILITIES | 9.2 | 9.6 | 9.5 | 10.5 | 11.8 | 12.5 | 12.2 | 13.4 | 14.3 | 14.1 | 16.4 | 17.9 |
| 流动负债BS_CURRENT_LIABILITIES | 6.9 | 7.5 | 7.5 | 8.1 | 9.4 | 10.0 | 9.7 | 10.9 | 11.8 | 11.8 | 13.8 | 15.4 |
| 应付账款BS_AP | 0.1 | 0.1 | 0.4 | 0.7 | 0.3 | 0.0 | 0.0 | 0.1 | 0.7 | 0.1 | 0.7 | 0.0 |
| 合同负债BS_CONTRACT_LIAB | 2.2 | 2.5 | 2.4 | 2.8 | 2.4 | 2.6 | 3.2 | 3.8 | 3.2 | 4.1 | 5.2 | 5.8 |
| 股东权益BS_TOTAL_EQUITY | 31.9 | 34.8 | 37.8 | 40.5 | 45.0 | 50.0 | 54.2 | 59.3 | 65.9 | 73.9 | 84.5 | 97.7 |
| 剩余履约义务（RPO）BS_RPO | 9.9 | 12.0 | 13.0 | 14.0 | 16.0 | 17.0 | 19.0 | 24.0 | 26.0 | 41.0 | 45.0 | 49.0 |
| 少数股东权益BS_MINORITY_INTEREST | 0.8 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 1.0 | 1.0 | 1.0 | 1.1 | 1.1 |
| 现金流量表 | ||||||||||||
| 经营活动现金流CF_OPERATING | 1.3 | 3.0 | 1.3 | 1.4 | 4.2 | 4.6 | 3.1 | 5.4 | 5.1 | 7.8 | 9.0 | 12.2 |
| 折旧摊销CF_DEPRECIATION | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.1 | 0.1 | 0.1 |
| 股权激励费用CF_SBC | 1.1 | 1.3 | 1.3 | 1.4 | 1.4 | 2.8 | 1.6 | 1.6 | 1.7 | 2.0 | 2.0 | 2.7 |
| 投资活动现金流CF_INVESTING | -2.0 | -5.7 | -5.1 | -1.5 | -3.2 | 6.4 | -13.9 | -6.2 | 1.8 | -9.6 | -0.3 | -14.8 |
| 资本开支CF_CAPEX | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| 筹资活动现金流CF_FINANCING | 0.5 | 0.5 | 0.8 | -0.0 | 1.5 | 2.4 | -0.3 | 0.1 | 0.1 | -0.1 | 0.0 | 0.0 |
| 回购CF_BUYBACK | 0.0 | 0.0 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | ||
| 财务指标 | ||||||||||||
| 毛利率GROSS_MARGIN | 80.7% | 82.1% | 81.7% | 81.0% | 79.8% | 78.9% | 80.4% | 80.8% | 82.4% | 84.6% | 86.8% | 84.7% |
| 营业利润率OPERATING_MARGIN | 7.2% | 10.8% | 12.8% | 15.5% | 15.6% | 1.3% | 19.9% | 26.8% | 33.3% | 40.9% | 46.2% | 47.1% |
| 净利率NET_MARGIN | 12.8% | 15.4% | 16.6% | 19.8% | 19.8% | 9.5% | 24.2% | 32.6% | 40.3% | 43.3% | 53.3% | 54.9% |
| 税后营业利润NOPAT | 0.4 | 0.6 | 0.8 | 1.0 | 1.1 | 0.1 | 1.7 | 2.7 | 3.9 | 5.7 | 7.4 | 9.0 |
| 税后营业利润率NOPAT_MARGIN | 6.6% | 9.9% | 12.2% | 15.0% | 14.8% | 1.3% | 19.4% | 26.5% | 33.0% | 40.3% | 45.6% | 46.5% |
| 投入资本INVESTED_CAPITAL | 21.5 | 26.4 | 32.5 | 35.4 | 37.3 | 29.0 | 44.3 | 50.0 | 49.7 | 59.6 | 61.6 | 77.4 |
| 投入资本周转率CAPITAL_TURNOVER | 1.04 | 0.92 | 0.78 | 0.77 | 0.78 | 1.14 | 0.80 | 0.80 | 0.95 | 0.94 | 1.06 | 1.00 |
| ROEROE | 2.2% | 2.7% | 2.8% | 3.3% | 3.2% | 1.6% | 3.9% | 5.5% | 7.2% | 8.2% | 10.3% | 10.9% |
| ROICROIC | 1.7% | 2.3% | 2.4% | 2.9% | 2.9% | 0.4% | 3.9% | 5.3% | 7.8% | 9.5% | 12.1% | 11.6% |
| 资产负债率DEBT_RATIO | 22.0% | 21.3% | 19.7% | 20.3% | 20.4% | 19.7% | 18.1% | 18.2% | 17.6% | 15.9% | 16.1% | 15.4% |
| 经营现金流/净利润OCF_TO_PROFIT | 186.6% | 322.5% | 122.8% | 107.5% | 292.5% | 582.6% | 145.0% | 165.0% | 106.7% | 127.7% | 103.3% | 114.5% |
| 应计比率ACCRUAL_RATIO | -1.5% | -4.6% | -0.5% | -0.2% | -4.8% | -6.0% | -1.4% | -2.9% | -0.4% | -1.9% | -0.3% | -1.3% |
| 营业外收支/税前利润NONOP_TO_PRETAX | 50.0% | 38.1% | 27.0% | 25.2% | 28.0% | 86.3% | 21.2% | 18.9% | 18.2% | 7.4% | 15.1% | 15.7% |
| 自由现金流FCF | 1.3 | 3.0 | 1.3 | 1.4 | 4.2 | 4.6 | 3.0 | 5.3 | 5.0 | 7.6 | 8.9 | 12.0 |
| 自由现金流利润率FCF_MARGIN | 23.6% | 48.7% | 20.0% | 20.8% | 57.3% | 55.3% | 34.4% | 53.0% | 42.4% | 54.3% | 54.6% | 62.1% |
| 股权激励/营收SBC_TO_REVENUE | 20.5% | 21.8% | 19.8% | 20.9% | 19.6% | 34.1% | 17.6% | 15.9% | 14.6% | 14.0% | 12.3% | 13.7% |
| 扣股权激励自由现金流FCF_AFTER_SBC | 0.2 | 1.6 | 0.0 | -0.0 | 2.7 | 1.8 | 1.5 | 3.7 | 3.3 | 5.7 | 6.9 | 9.4 |
| 资本开支/折旧摊销CAPEX_TO_DA | 0.25 | 0.61 | 0.32 | 0.48 | 0.65 | 0.44 | 0.93 | 1.41 | 1.42 | 1.89 | 1.09 | 1.77 |
| 固定资产周转率PPE_TURNOVER | 44.53 | 50.95 | 54.09 | 62.38 | 71.93 | 83.51 | 89.12 | 92.25 | 103.36 | 108.30 | 117.19 | 126.08 |
| 应收周转天数DSO | 70.3 | 54.7 | 70.1 | 88.7 | 84.0 | 63.4 | 74.9 | 68.0 | 77.7 | 67.6 | 78.6 | 70.0 |
| 应付周转天数DPO | 8.0 | 10.2 | 28.0 | 47.8 | 16.8 | 0.1 | 1.2 | 5.1 | 29.7 | 3.4 | 29.3 | 1.0 |
| 合同负债同比CONTRACT_LIAB_YOY | 17.8% | 34.7% | 3.3% | 7.0% | 5.9% | 5.2% | 34.3% | 35.3% | 33.9% | 57.5% | 62.3% | 53.8% |
| RPO 同比RPO_YOY | -24.0% | 23.4% | 38.9% | 44.7% | 62.0% | 41.7% | 46.2% | 71.4% | 62.5% | 141.2% | 136.8% | 104.2% |
| 股东回报（派息+回购）SHAREHOLDER_RETURN | 0.0 | 0.0 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | ||
| 股东回报/自由现金流SHAREHOLDER_RETURN_TO_FCF | 0.0% | 0.0% | 7.1% | 12.5% | 4.5% | 4.1% | 5.9% | 3.5% | 3.8% | 2.5% | ||
| 稀释率DILUTION_RATE | 7.5% | 8.4% | 8.2% | 9.3% | 8.7% | 8.4% | 8.2% | 7.4% | 7.0% | |||
勾稽校验（所示期间）：12 项， 全部通过