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ACI WORLDWIDE, INC.（ACIW）与BLACK HILLS CORP（BKH）财务数据对比。点击上方公司名可切换其他公司
BLACK HILLS CORP的季度营收约是ACI WORLDWIDE, INC.的1.3倍（$622.7M vs $481.6M），BLACK HILLS CORP净利率更高（16.8% vs 13.4%，领先3.5%），BLACK HILLS CORP同比增速更快（6.4% vs 6.3%），ACI WORLDWIDE, INC.自由现金流更多（$116.6M vs $-101.5M），过去两年ACI WORLDWIDE, INC.的营收复合增速更高（23.4% vs -6.8%）
ACI Worldwide是全球领先的数字支付软件企业，总部位于美国内布拉斯加州埃尔克霍恩，为94个国家的客户提供服务，每日处理数十亿笔交易，总价值达数万亿美元。其智能解决方案服务于银行、金融机构、商户、账单服务商、收单机构、发卡机构及第三方支付服务商，支持全渠道搭建安全支付体系。
布莱克山集团是美国多元化能源企业，总部位于南达科他州拉皮德城，名称来源于当地的布莱克山区域。公司主营电力与天然气公用事业，服务覆盖南达科他、蒙大拿、怀俄明、科罗拉多等多个州，电力产品行销整个美国西部地区。
ACIW vs BKH — 直观对比
营收规模更大
BKH
是对方的1.3倍
$481.6M
营收增速更快
BKH
高出0.1%
6.3%
净利率更高
BKH
高出3.5%
13.4%
自由现金流更多
ACIW
多$218.1M
$-101.5M
两年增速更快
ACIW
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $481.6M | $622.7M |
| 净利润 | $64.3M | $104.9M |
| 毛利率 | 53.0% | — |
| 营业利润率 | 22.6% | 27.5% |
| 净利率 | 13.4% | 16.8% |
| 营收同比 | 6.3% | 6.4% |
| 净利润同比 | -34.7% | 7.0% |
| 每股收益（稀释后） | $0.61 | $1.39 |
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ACIWBKH
| Q4 25 | $481.6M | $622.7M | ||
| Q3 25 | $482.4M | $427.4M | ||
| Q2 25 | $401.3M | $435.7M | ||
| Q1 25 | $394.6M | $800.4M | ||
| Q4 24 | $453.0M | $585.1M | ||
| Q3 24 | $451.8M | $398.6M | ||
| Q2 24 | $373.5M | $397.1M | ||
| Q1 24 | $316.0M | $717.2M |
净利润ACIWBKH
| Q4 25 | $64.3M | $104.9M | ||
| Q3 25 | $91.3M | $24.9M | ||
| Q2 25 | $12.2M | $27.5M | ||
| Q1 25 | $58.9M | $134.3M | ||
| Q4 24 | $98.6M | $98.0M | ||
| Q3 24 | $81.4M | $24.4M | ||
| Q2 24 | $30.9M | $22.8M | ||
| Q1 24 | $-7.8M | $127.9M |
毛利率ACIWBKH
| Q4 25 | 53.0% | — | ||
| Q3 25 | 53.7% | — | ||
| Q2 25 | 41.5% | — | ||
| Q1 25 | 45.9% | — | ||
| Q4 24 | 55.8% | — | ||
| Q3 24 | 56.3% | — | ||
| Q2 24 | 45.6% | — | ||
| Q1 24 | 39.5% | — |
营业利润率ACIWBKH
| Q4 25 | 22.6% | 27.5% | ||
| Q3 25 | 26.5% | 18.4% | ||
| Q2 25 | 8.7% | 18.9% | ||
| Q1 25 | 14.8% | 25.6% | ||
| Q4 24 | 27.0% | 27.9% | ||
| Q3 24 | 27.1% | 19.0% | ||
| Q2 24 | 14.4% | 17.8% | ||
| Q1 24 | 3.0% | 27.0% |
净利率ACIWBKH
| Q4 25 | 13.4% | 16.8% | ||
| Q3 25 | 18.9% | 5.8% | ||
| Q2 25 | 3.0% | 6.3% | ||
| Q1 25 | 14.9% | 16.8% | ||
| Q4 24 | 21.8% | 16.7% | ||
| Q3 24 | 18.0% | 6.1% | ||
| Q2 24 | 8.3% | 5.7% | ||
| Q1 24 | -2.5% | 17.8% |
每股收益（稀释后）ACIWBKH
| Q4 25 | $0.61 | $1.39 | ||
| Q3 25 | $0.88 | $0.34 | ||
| Q2 25 | $0.12 | $0.38 | ||
| Q1 25 | $0.55 | $1.87 | ||
| Q4 24 | $0.92 | $1.36 | ||
| Q3 24 | $0.77 | $0.35 | ||
| Q2 24 | $0.29 | $0.33 | ||
| Q1 24 | $-0.07 | $1.87 |
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 | $196.5M | $182.8M |
| 总债务越低越好 | $817.6M | — |
| 股东权益账面价值 | $1.5B | $3.8B |
| 总资产 | $3.1B | $10.9B |
| 负债/权益比越低杠杆越低 | 0.54× | — |
8季度趋势，按日历期对齐
现金及短期投资ACIWBKH
| Q4 25 | $196.5M | $182.8M | ||
| Q3 25 | $199.3M | $21.1M | ||
| Q2 25 | $189.7M | $8.1M | ||
| Q1 25 | $230.1M | $6.6M | ||
| Q4 24 | $216.4M | $16.1M | ||
| Q3 24 | $177.9M | $12.5M | ||
| Q2 24 | $157.0M | $624.8M | ||
| Q1 24 | $183.4M | $123.0M |
总债务ACIWBKH
| Q4 25 | $817.6M | — | ||
| Q3 25 | $867.8M | — | ||
| Q2 25 | $898.0M | — | ||
| Q1 25 | $845.9M | — | ||
| Q4 24 | $924.6M | — | ||
| Q3 24 | $994.3M | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
股东权益ACIWBKH
| Q4 25 | $1.5B | $3.8B | ||
| Q3 25 | $1.5B | $3.8B | ||
| Q2 25 | $1.4B | $3.6B | ||
| Q1 25 | $1.5B | $3.6B | ||
| Q4 24 | $1.4B | $3.5B | ||
| Q3 24 | $1.3B | $3.4B | ||
| Q2 24 | $1.2B | $3.4B | ||
| Q1 24 | $1.3B | $3.3B |
总资产ACIWBKH
| Q4 25 | $3.1B | $10.9B | ||
| Q3 25 | $3.2B | $10.3B | ||
| Q2 25 | $3.1B | $10.1B | ||
| Q1 25 | $3.2B | $10.1B | ||
| Q4 24 | $3.0B | $10.0B | ||
| Q3 24 | $3.1B | $9.7B | ||
| Q2 24 | $3.4B | $10.2B | ||
| Q1 24 | $3.3B | $9.7B |
负债/权益比ACIWBKH
| Q4 25 | 0.54× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.64× | — | ||
| Q1 25 | 0.57× | — | ||
| Q4 24 | 0.65× | — | ||
| Q3 24 | 0.75× | — | ||
| Q2 24 | 0.82× | — | ||
| Q1 24 | 0.81× | — |
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 | $121.8M | $168.1M |
| 自由现金流经营现金流 - 资本支出 | $116.6M | $-101.5M |
| 自由现金流率自由现金流/营收 | 24.2% | -16.3% |
| 资本支出强度资本支出/营收 | 1.1% | 43.3% |
| 现金转化率经营现金流/净利润 | 1.89× | 1.60× |
| 过去12个月自由现金流最近4个季度 | $309.9M | $-146.4M |
8季度趋势，按日历期对齐
经营现金流ACIWBKH
| Q4 25 | $121.8M | $168.1M | ||
| Q3 25 | $73.0M | $88.9M | ||
| Q2 25 | $49.8M | $188.6M | ||
| Q1 25 | $78.2M | $227.8M | ||
| Q4 24 | $126.5M | $153.2M | ||
| Q3 24 | $54.0M | $102.1M | ||
| Q2 24 | $55.0M | $230.6M | ||
| Q1 24 | $123.2M | $233.4M |
自由现金流ACIWBKH
| Q4 25 | $116.6M | $-101.5M | ||
| Q3 25 | $69.6M | $-89.5M | ||
| Q2 25 | $47.6M | $-30.3M | ||
| Q1 25 | $76.1M | $74.9M | ||
| Q4 24 | $119.5M | $-60.5M | ||
| Q3 24 | $50.5M | $-86.0M | ||
| Q2 24 | $53.3M | $64.4M | ||
| Q1 24 | $120.0M | $57.2M |
自由现金流率ACIWBKH
| Q4 25 | 24.2% | -16.3% | ||
| Q3 25 | 14.4% | -20.9% | ||
| Q2 25 | 11.9% | -7.0% | ||
| Q1 25 | 19.3% | 9.4% | ||
| Q4 24 | 26.4% | -10.3% | ||
| Q3 24 | 11.2% | -21.6% | ||
| Q2 24 | 14.3% | 16.2% | ||
| Q1 24 | 38.0% | 8.0% |
资本支出强度ACIWBKH
| Q4 25 | 1.1% | 43.3% | ||
| Q3 25 | 0.7% | 41.7% | ||
| Q2 25 | 0.5% | 50.2% | ||
| Q1 25 | 0.5% | 19.1% | ||
| Q4 24 | 1.5% | 36.5% | ||
| Q3 24 | 0.8% | 47.2% | ||
| Q2 24 | 0.5% | 41.9% | ||
| Q1 24 | 1.0% | 24.6% |
现金转化率ACIWBKH
| Q4 25 | 1.89× | 1.60× | ||
| Q3 25 | 0.80× | 3.57× | ||
| Q2 25 | 4.08× | 6.86× | ||
| Q1 25 | 1.33× | 1.70× | ||
| Q4 24 | 1.28× | 1.56× | ||
| Q3 24 | 0.66× | 4.18× | ||
| Q2 24 | 1.78× | 10.11× | ||
| Q1 24 | — | 1.82× |
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
ACIW
| Issuing And Acquiring | $183.7M | 38% |
| License | $158.3M | 33% |
| Maintenance | $50.8M | 11% |
| Software And Platform Service | $49.6M | 10% |
| Merchant Payments | $42.4M | 9% |
BKH
| Gas Utilities | $391.1M | 63% |
| Retail Electric Natural Gasand Coal | $189.7M | 30% |
| Other | $15.3M | 2% |
| Market Off System Sales | $13.6M | 2% |
| Transferred At Point In Time | $8.9M | 1% |
| Wholesale | $4.9M | 1% |
| Inter Segment Revenues | $2.4M | 0% |
