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盛美半导体（ACMR）与安朗杰（ALLE）财务数据对比。点击上方公司名可切换其他公司
安朗杰的季度营收约是盛美半导体的4.2倍（$1.0B vs $244.4M）。安朗杰净利率更高（14.3% vs 3.3%，领先11.0%）。盛美半导体同比增速更快（9.4% vs 9.3%）。安朗杰自由现金流更多（$200.5M vs $20.1M）。过去两年盛美半导体的营收复合增速更高（26.7% vs 7.5%）
盛美半导体（ACM Research, Inc.）是全球领先的半导体制造设备供应商，专注于研发、生产及销售晶圆湿法处理相关设备，覆盖清洗、电镀、刻蚀等品类，产品广泛应用于逻辑、存储、功率等各类先进芯片的生产流程，服务全球多地区芯片制造企业。
安朗杰是全球知名的安防产品及解决方案供应商，面向全球生产销售机械与电子类安防产品，包括闭门器、出入口控制设备、锁具、电子门禁系统、考勤与人员效能管理系统、门体系统及相关配件，服务商业、公共机构、住宅等多领域终端用户
ACMR vs ALLE — 直观对比
营收规模更大
ALLE
是对方的4.2倍
$244.4M
营收增速更快
ACMR
高出0.1%
9.3%
净利率更高
ALLE
高出11.0%
3.3%
自由现金流更多
ALLE
多$180.4M
$20.1M
两年增速更快
ACMR
近两年复合增速
7.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $244.4M | $1.0B |
| 净利润 | $8.0M | $147.5M |
| 毛利率 | 40.9% | 44.5% |
| 营业利润率 | 9.4% | 20.3% |
| 净利率 | 3.3% | 14.3% |
| 营收同比 | 9.4% | 9.3% |
| 净利润同比 | -74.1% | 2.4% |
| 每股收益（稀释后） | $0.11 | $1.70 |
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ACMRALLE
| Q4 25 | $244.4M | $1.0B | ||
| Q3 25 | $269.2M | $1.1B | ||
| Q2 25 | $215.4M | $1.0B | ||
| Q1 25 | $172.3M | $941.9M | ||
| Q4 24 | $223.5M | $945.6M | ||
| Q3 24 | $204.0M | $967.1M | ||
| Q2 24 | $202.5M | $965.6M | ||
| Q1 24 | $152.2M | $893.9M |
净利润ACMRALLE
| Q4 25 | $8.0M | $147.5M | ||
| Q3 25 | $35.9M | $188.4M | ||
| Q2 25 | $29.8M | $159.7M | ||
| Q1 25 | $20.4M | $148.2M | ||
| Q4 24 | $31.1M | $144.1M | ||
| Q3 24 | $30.9M | $174.2M | ||
| Q2 24 | $24.2M | $155.4M | ||
| Q1 24 | $17.4M | $123.8M |
毛利率ACMRALLE
| Q4 25 | 40.9% | 44.5% | ||
| Q3 25 | 42.0% | 45.8% | ||
| Q2 25 | 48.5% | 45.6% | ||
| Q1 25 | 47.9% | 44.9% | ||
| Q4 24 | 49.6% | 44.1% | ||
| Q3 24 | 51.4% | 44.7% | ||
| Q2 24 | 47.8% | 44.4% | ||
| Q1 24 | 52.0% | 43.8% |
营业利润率ACMRALLE
| Q4 25 | 9.4% | 20.3% | ||
| Q3 25 | 10.7% | 21.8% | ||
| Q2 25 | 14.7% | 21.5% | ||
| Q1 25 | 15.0% | 20.9% | ||
| Q4 24 | 19.7% | 19.5% | ||
| Q3 24 | 21.7% | 22.2% | ||
| Q2 24 | 18.6% | 21.6% | ||
| Q1 24 | 16.6% | 19.3% |
净利率ACMRALLE
| Q4 25 | 3.3% | 14.3% | ||
| Q3 25 | 13.3% | 17.6% | ||
| Q2 25 | 13.8% | 15.6% | ||
| Q1 25 | 11.8% | 15.7% | ||
| Q4 24 | 13.9% | 15.2% | ||
| Q3 24 | 15.2% | 18.0% | ||
| Q2 24 | 12.0% | 16.1% | ||
| Q1 24 | 11.5% | 13.8% |
每股收益（稀释后）ACMRALLE
| Q4 25 | $0.11 | $1.70 | ||
| Q3 25 | $0.52 | $2.18 | ||
| Q2 25 | $0.44 | $1.85 | ||
| Q1 25 | $0.30 | $1.71 | ||
| Q4 24 | $0.47 | $1.65 | ||
| Q3 24 | $0.45 | $1.99 | ||
| Q2 24 | $0.35 | $1.77 | ||
| Q1 24 | $0.26 | $1.41 |
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 | $792.9M | $356.2M |
| 总债务越低越好 | $214.0M | $2.0B |
| 股东权益账面价值 | $1.5B | $2.1B |
| 总资产 | $2.9B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资ACMRALLE
| Q4 25 | $792.9M | $356.2M | ||
| Q3 25 | $1.1B | $302.7M | ||
| Q2 25 | $463.2M | $656.8M | ||
| Q1 25 | $475.6M | $494.5M | ||
| Q4 24 | $426.8M | $503.8M | ||
| Q3 24 | $353.8M | $878.9M | ||
| Q2 24 | $343.6M | $747.5M | ||
| Q1 24 | $230.0M | $391.8M |
总债务ACMRALLE
| Q4 25 | $214.0M | $2.0B | ||
| Q3 25 | $242.0M | $2.1B | ||
| Q2 25 | $225.1M | $2.1B | ||
| Q1 25 | $202.5M | $2.0B | ||
| Q4 24 | $150.0M | $2.0B | ||
| Q3 24 | $150.0M | $2.4B | ||
| Q2 24 | $90.5M | $2.4B | ||
| Q1 24 | $60.0M | $2.0B |
股东权益ACMRALLE
| Q4 25 | $1.5B | $2.1B | ||
| Q3 25 | $1.4B | $1.9B | ||
| Q2 25 | $986.5M | $1.8B | ||
| Q1 25 | $949.1M | $1.6B | ||
| Q4 24 | $904.6M | $1.5B | ||
| Q3 24 | $888.2M | $1.6B | ||
| Q2 24 | $833.2M | $1.4B | ||
| Q1 24 | $796.2M | $1.4B |
总资产ACMRALLE
| Q4 25 | $2.9B | $5.2B | ||
| Q3 25 | $2.8B | $5.2B | ||
| Q2 25 | $2.0B | $4.9B | ||
| Q1 25 | $1.9B | $4.6B | ||
| Q4 24 | $1.9B | $4.5B | ||
| Q3 24 | $1.8B | $5.0B | ||
| Q2 24 | $1.7B | $4.8B | ||
| Q1 24 | $1.6B | $4.3B |
负债/权益比ACMRALLE
| Q4 25 | 0.15× | 0.96× | ||
| Q3 25 | 0.17× | 1.07× | ||
| Q2 25 | 0.23× | 1.16× | ||
| Q1 25 | 0.21× | 1.24× | ||
| Q4 24 | 0.17× | 1.33× | ||
| Q3 24 | 0.17× | 1.53× | ||
| Q2 24 | 0.11× | 1.69× | ||
| Q1 24 | 0.08× | 1.49× |
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 | $33.9M | $240.1M |
| 自由现金流经营现金流 - 资本支出 | $20.1M | $200.5M |
| 自由现金流率自由现金流/营收 | 8.2% | 19.4% |
| 资本支出强度资本支出/营收 | 5.6% | 3.8% |
| 现金转化率经营现金流/净利润 | 4.21× | 1.63× |
| 过去12个月自由现金流最近4个季度 | $-66.6M | $685.7M |
8季度趋势，按日历期对齐
经营现金流ACMRALLE
| Q4 25 | $33.9M | $240.1M | ||
| Q3 25 | $-4.6M | $229.5M | ||
| Q2 25 | $-44.9M | $209.7M | ||
| Q1 25 | $5.3M | $104.5M | ||
| Q4 24 | $88.6M | $219.0M | ||
| Q3 24 | $11.9M | $231.9M | ||
| Q2 24 | $61.6M | $173.0M | ||
| Q1 24 | $-9.6M | $51.1M |
自由现金流ACMRALLE
| Q4 25 | $20.1M | $200.5M | ||
| Q3 25 | $-15.6M | $209.8M | ||
| Q2 25 | $-59.6M | $192.0M | ||
| Q1 25 | $-11.4M | $83.4M | ||
| Q4 24 | $77.2M | $194.9M | ||
| Q3 24 | $-20.6M | $212.0M | ||
| Q2 24 | $48.5M | $152.1M | ||
| Q1 24 | $-35.1M | $23.9M |
自由现金流率ACMRALLE
| Q4 25 | 8.2% | 19.4% | ||
| Q3 25 | -5.8% | 19.6% | ||
| Q2 25 | -27.7% | 18.8% | ||
| Q1 25 | -6.6% | 8.9% | ||
| Q4 24 | 34.5% | 20.6% | ||
| Q3 24 | -10.1% | 21.9% | ||
| Q2 24 | 24.0% | 15.8% | ||
| Q1 24 | -23.0% | 2.7% |
资本支出强度ACMRALLE
| Q4 25 | 5.6% | 3.8% | ||
| Q3 25 | 4.1% | 1.8% | ||
| Q2 25 | 6.8% | 1.7% | ||
| Q1 25 | 9.7% | 2.2% | ||
| Q4 24 | 5.1% | 2.5% | ||
| Q3 24 | 16.0% | 2.1% | ||
| Q2 24 | 6.5% | 2.2% | ||
| Q1 24 | 16.7% | 3.0% |
现金转化率ACMRALLE
| Q4 25 | 4.21× | 1.63× | ||
| Q3 25 | -0.13× | 1.22× | ||
| Q2 25 | -1.51× | 1.31× | ||
| Q1 25 | 0.26× | 0.71× | ||
| Q4 24 | 2.85× | 1.52× | ||
| Q3 24 | 0.39× | 1.33× | ||
| Q2 24 | 2.54× | 1.11× | ||
| Q1 24 | -0.55× | 0.41× |
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
ACMR
| Total Single Wafer And Semi Critical Cleaning Equipment | $159.9M | 65% |
| ECP Front End And Packaging Furnace And Other Technologies | $64.1M | 26% |
| Advanced Packaging Exclude ECP Services Spares | $20.5M | 8% |
ALLE
| Products | $750.2M | 73% |
| Allegion International | $237.7M | 23% |
| Services | $45.2M | 4% |
