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AXCELIS TECHNOLOGIES INC（ACLS）与美世（MERC）财务数据对比。点击上方公司名可切换其他公司
美世的季度营收约是AXCELIS TECHNOLOGIES INC的1.9倍（$449.5M vs $238.3M），AXCELIS TECHNOLOGIES INC净利率更高（14.4% vs -68.7%，领先83.1%），AXCELIS TECHNOLOGIES INC同比增速更快（-5.6% vs -8.0%），美世自由现金流更多（$32.0M vs $-8.9M），过去两年AXCELIS TECHNOLOGIES INC的营收复合增速更高（-2.8% vs -9.9%）
Axcelis Technologies是一家美国半导体设备供应商，1995年成立，总部位于美国马萨诸塞州贝弗利。公司面向全球半导体制造行业，从事半导体生产核心设备的设计、制造及服务，主营产品包括高中电流、高能离子注入系统以及半导体芯片制造用固化系统。
美世是1945年成立的美国咨询公司，为全球专业服务集团威达信的四大运营子公司之一，总部位于纽约，在43个国家设有办事处，业务覆盖130个国家，主要为客户提供人力资源与金融咨询服务。
ACLS vs MERC — 直观对比
营收规模更大
MERC
是对方的1.9倍
$238.3M
营收增速更快
ACLS
高出2.4%
-8.0%
净利率更高
ACLS
高出83.1%
-68.7%
自由现金流更多
MERC
多$40.9M
$-8.9M
两年增速更快
ACLS
近两年复合增速
-9.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $238.3M | $449.5M |
| 净利润 | $34.3M | $-308.7M |
| 毛利率 | 47.0% | — |
| 营业利润率 | 15.2% | -62.0% |
| 净利率 | 14.4% | -68.7% |
| 营收同比 | -5.6% | -8.0% |
| 净利润同比 | -31.3% | -1947.7% |
| 每股收益（稀释后） | $1.11 | $-4.61 |
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ACLSMERC
| Q4 25 | $238.3M | $449.5M | ||
| Q3 25 | $213.6M | $458.1M | ||
| Q2 25 | $194.5M | $453.5M | ||
| Q1 25 | $192.6M | $507.0M | ||
| Q4 24 | $252.4M | $488.4M | ||
| Q3 24 | $256.6M | $502.1M | ||
| Q2 24 | $256.5M | $499.4M | ||
| Q1 24 | $252.4M | $553.4M |
净利润ACLSMERC
| Q4 25 | $34.3M | $-308.7M | ||
| Q3 25 | $26.0M | $-80.8M | ||
| Q2 25 | $31.4M | $-86.1M | ||
| Q1 25 | $28.6M | $-22.3M | ||
| Q4 24 | $50.0M | $16.7M | ||
| Q3 24 | $48.6M | $-17.6M | ||
| Q2 24 | $50.9M | $-67.6M | ||
| Q1 24 | $51.6M | $-16.7M |
毛利率ACLSMERC
| Q4 25 | 47.0% | — | ||
| Q3 25 | 41.6% | — | ||
| Q2 25 | 44.9% | — | ||
| Q1 25 | 46.1% | — | ||
| Q4 24 | 46.0% | — | ||
| Q3 24 | 42.9% | — | ||
| Q2 24 | 43.8% | — | ||
| Q1 24 | 46.0% | — |
营业利润率ACLSMERC
| Q4 25 | 15.2% | -62.0% | ||
| Q3 25 | 11.7% | -14.8% | ||
| Q2 25 | 14.9% | -12.9% | ||
| Q1 25 | 15.1% | 1.3% | ||
| Q4 24 | 21.6% | 10.3% | ||
| Q3 24 | 18.3% | 1.8% | ||
| Q2 24 | 20.6% | -8.8% | ||
| Q1 24 | 22.4% | -0.1% |
净利率ACLSMERC
| Q4 25 | 14.4% | -68.7% | ||
| Q3 25 | 12.2% | -17.6% | ||
| Q2 25 | 16.1% | -19.0% | ||
| Q1 25 | 14.8% | -4.4% | ||
| Q4 24 | 19.8% | 3.4% | ||
| Q3 24 | 18.9% | -3.5% | ||
| Q2 24 | 19.8% | -13.5% | ||
| Q1 24 | 20.4% | -3.0% |
每股收益（稀释后）ACLSMERC
| Q4 25 | $1.11 | $-4.61 | ||
| Q3 25 | $0.83 | $-1.21 | ||
| Q2 25 | $0.98 | $-1.29 | ||
| Q1 25 | $0.88 | $-0.33 | ||
| Q4 24 | $1.54 | $0.25 | ||
| Q3 24 | $1.49 | $-0.26 | ||
| Q2 24 | $1.55 | $-1.01 | ||
| Q1 24 | $1.57 | $-0.25 |
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 | $374.3M | $186.8M |
| 总债务越低越好 | — | $1.6B |
| 股东权益账面价值 | $1.0B | $68.1M |
| 总资产 | $1.4B | $2.0B |
| 负债/权益比越低杠杆越低 | — | 23.58× |
8季度趋势，按日历期对齐
现金及短期投资ACLSMERC
| Q4 25 | $374.3M | $186.8M | ||
| Q3 25 | $449.6M | $98.1M | ||
| Q2 25 | $549.8M | $146.5M | ||
| Q1 25 | $587.1M | $181.5M | ||
| Q4 24 | $571.3M | $184.9M | ||
| Q3 24 | $579.4M | $239.0M | ||
| Q2 24 | $548.3M | $263.2M | ||
| Q1 24 | $530.2M | $274.3M |
总债务ACLSMERC
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.6B |
股东权益ACLSMERC
| Q4 25 | $1.0B | $68.1M | ||
| Q3 25 | $1.0B | $359.5M | ||
| Q2 25 | $1.0B | $446.5M | ||
| Q1 25 | $1.0B | $437.4M | ||
| Q4 24 | $1.0B | $429.8M | ||
| Q3 24 | $975.6M | $516.8M | ||
| Q2 24 | $934.9M | $487.7M | ||
| Q1 24 | $901.7M | $573.6M |
总资产ACLSMERC
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.4B | $2.3B | ||
| Q2 25 | $1.3B | $2.4B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.3B | $2.5B | ||
| Q2 24 | $1.3B | $2.5B | ||
| Q1 24 | $1.3B | $2.6B |
负债/权益比ACLSMERC
| Q4 25 | — | 23.58× | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | — | 3.42× | ||
| Q1 25 | — | 3.44× | ||
| Q4 24 | — | 3.43× | ||
| Q3 24 | — | 3.09× | ||
| Q2 24 | — | 3.22× | ||
| Q1 24 | — | 2.82× |
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 | $-6.6M | $46.2M |
| 自由现金流经营现金流 - 资本支出 | $-8.9M | $32.0M |
| 自由现金流率自由现金流/营收 | -3.7% | 7.1% |
| 资本支出强度资本支出/营收 | 1.0% | 3.1% |
| 现金转化率经营现金流/净利润 | -0.19× | — |
| 过去12个月自由现金流最近4个季度 | $107.0M | $-80.0M |
8季度趋势，按日历期对齐
经营现金流ACLSMERC
| Q4 25 | $-6.6M | $46.2M | ||
| Q3 25 | $45.4M | $-30.1M | ||
| Q2 25 | $39.7M | $-4.5M | ||
| Q1 25 | $39.8M | $-3.0M | ||
| Q4 24 | $12.8M | $71.2M | ||
| Q3 24 | $45.7M | $-13.9M | ||
| Q2 24 | $40.1M | $62.2M | ||
| Q1 24 | $42.2M | $-29.2M |
自由现金流ACLSMERC
| Q4 25 | $-8.9M | $32.0M | ||
| Q3 25 | $43.3M | $-60.1M | ||
| Q2 25 | $37.7M | $-28.9M | ||
| Q1 25 | $34.8M | $-23.1M | ||
| Q4 24 | $8.1M | $50.4M | ||
| Q3 24 | $41.8M | $-41.2M | ||
| Q2 24 | $38.1M | $44.3M | ||
| Q1 24 | $40.6M | $-47.7M |
自由现金流率ACLSMERC
| Q4 25 | -3.7% | 7.1% | ||
| Q3 25 | 20.3% | -13.1% | ||
| Q2 25 | 19.4% | -6.4% | ||
| Q1 25 | 18.1% | -4.6% | ||
| Q4 24 | 3.2% | 10.3% | ||
| Q3 24 | 16.3% | -8.2% | ||
| Q2 24 | 14.8% | 8.9% | ||
| Q1 24 | 16.1% | -8.6% |
资本支出强度ACLSMERC
| Q4 25 | 1.0% | 3.1% | ||
| Q3 25 | 0.9% | 6.6% | ||
| Q2 25 | 1.0% | 5.4% | ||
| Q1 25 | 2.6% | 4.0% | ||
| Q4 24 | 1.8% | 4.2% | ||
| Q3 24 | 1.5% | 5.4% | ||
| Q2 24 | 0.8% | 3.6% | ||
| Q1 24 | 0.6% | 3.3% |
现金转化率ACLSMERC
| Q4 25 | -0.19× | — | ||
| Q3 25 | 1.75× | — | ||
| Q2 25 | 1.27× | — | ||
| Q1 25 | 1.39× | — | ||
| Q4 24 | 0.26× | 4.26× | ||
| Q3 24 | 0.94× | — | ||
| Q2 24 | 0.79× | — | ||
| Q1 24 | 0.82× | — |
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
ACLS
| Products | $224.6M | 94% |
| Services | $13.7M | 6% |
MERC
| Other | $215.3M | 48% |
| Solid Wood | $110.2M | 25% |
| Lumber | $54.9M | 12% |
| Pallets | $23.7M | 5% |
| Energyandchemicals | $18.7M | 4% |
| Manufactured Products | $14.1M | 3% |
| Biofuels | $10.0M | 2% |
| Wood Residuals | $2.6M | 1% |
