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ACACIA RESEARCH CORP（ACTG）与AerSale Corp（ASLE）财务数据对比。点击上方公司名可切换其他公司
AerSale Corp的季度营收约是ACACIA RESEARCH CORP的1.8倍（$90.9M vs $50.1M），ACACIA RESEARCH CORP净利率更高（6.8% vs 5.9%，领先0.9%），ACACIA RESEARCH CORP同比增速更快（2.6% vs -4.0%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 0.2%）
槐亚研究公司是一家总部位于纽约市的美国上市企业，在科技、能源以及工业制造领域开展业务收购与运营工作。该公司与控股股东斯塔博德价值投资合伙企业保持战略伙伴关系，这家企业在业内常被归类为专利流氓。
AerSale Corp总部位于美国佛罗里达州多拉市，是一家面向航空领域的全球供应商，主要为客运及货运航空公司、政府机构、跨国整机制造商与独立维修机构提供商用喷气飞机二手整机、发动机、航空耗材，并提供航空工程服务，同时该公司也是飞机机队回收协会的成员企业。
ACTG vs ASLE — 直观对比
营收规模更大
ASLE
是对方的1.8倍
$50.1M
营收增速更快
ACTG
高出6.6%
-4.0%
净利率更高
ACTG
高出0.9%
5.9%
两年增速更快
ACTG
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $90.9M |
| 净利润 | $3.4M | $5.4M |
| 毛利率 | 12.8% | 34.1% |
| 营业利润率 | -26.1% | 7.8% |
| 净利率 | 6.8% | 5.9% |
| 营收同比 | 2.6% | -4.0% |
| 净利润同比 | 125.5% | 99.7% |
| 每股收益（稀释后） | $0.03 | $0.10 |
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ACTGASLE
| Q4 25 | $50.1M | $90.9M | ||
| Q3 25 | $59.4M | $71.2M | ||
| Q2 25 | $51.2M | $107.4M | ||
| Q1 25 | $124.4M | $65.8M | ||
| Q4 24 | $48.8M | $94.7M | ||
| Q3 24 | $23.3M | $82.7M | ||
| Q2 24 | $25.8M | $77.1M | ||
| Q1 24 | $24.3M | $90.5M |
净利润ACTGASLE
| Q4 25 | $3.4M | $5.4M | ||
| Q3 25 | $-2.7M | $-120.0K | ||
| Q2 25 | $-3.3M | $8.6M | ||
| Q1 25 | $24.3M | $-5.3M | ||
| Q4 24 | $-13.4M | $2.7M | ||
| Q3 24 | $-14.0M | $509.0K | ||
| Q2 24 | $-8.4M | $-3.6M | ||
| Q1 24 | $-186.0K | $6.3M |
毛利率ACTGASLE
| Q4 25 | 12.8% | 34.1% | ||
| Q3 25 | 21.2% | 30.2% | ||
| Q2 25 | 12.8% | 32.9% | ||
| Q1 25 | 47.4% | 27.3% | ||
| Q4 24 | 17.6% | 31.4% | ||
| Q3 24 | 10.1% | 28.6% | ||
| Q2 24 | 26.2% | 28.2% | ||
| Q1 24 | 49.2% | 31.8% |
营业利润率ACTGASLE
| Q4 25 | -26.1% | 7.8% | ||
| Q3 25 | -10.8% | 4.0% | ||
| Q2 25 | -24.2% | 11.7% | ||
| Q1 25 | 30.8% | -10.1% | ||
| Q4 24 | -32.4% | 5.2% | ||
| Q3 24 | -44.1% | 2.4% | ||
| Q2 24 | -18.4% | -2.4% | ||
| Q1 24 | -8.6% | 5.2% |
净利率ACTGASLE
| Q4 25 | 6.8% | 5.9% | ||
| Q3 25 | -4.6% | -0.2% | ||
| Q2 25 | -6.4% | 8.0% | ||
| Q1 25 | 19.5% | -8.0% | ||
| Q4 24 | -27.5% | 2.9% | ||
| Q3 24 | -60.0% | 0.6% | ||
| Q2 24 | -32.7% | -4.7% | ||
| Q1 24 | -0.8% | 6.9% |
每股收益（稀释后）ACTGASLE
| Q4 25 | $0.03 | $0.10 | ||
| Q3 25 | $-0.03 | $0.00 | ||
| Q2 25 | $-0.03 | $0.18 | ||
| Q1 25 | $0.25 | $-0.10 | ||
| Q4 24 | $-0.14 | $0.05 | ||
| Q3 24 | $-0.14 | $0.01 | ||
| Q2 24 | $-0.08 | $-0.07 | ||
| Q1 24 | $0.00 | $0.12 |
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 | $306.7M | $4.4M |
| 总债务越低越好 | $91.9M | $1.3M |
| 股东权益账面价值 | $543.5M | $424.4M |
| 总资产 | $771.0M | $640.5M |
| 负债/权益比越低杠杆越低 | 0.17× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ACTGASLE
| Q4 25 | $306.7M | $4.4M | ||
| Q3 25 | $301.8M | $5.3M | ||
| Q2 25 | $316.7M | $5.7M | ||
| Q1 25 | $272.0M | $4.7M | ||
| Q4 24 | $273.9M | $4.7M | ||
| Q3 24 | $410.9M | $9.8M | ||
| Q2 24 | $441.9M | $4.3M | ||
| Q1 24 | $498.4M | $2.6M |
总债务ACTGASLE
| Q4 25 | $91.9M | $1.3M | ||
| Q3 25 | — | $1.5M | ||
| Q2 25 | — | $907.0K | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | — | $376.0K | ||
| Q2 24 | — | $522.0K | ||
| Q1 24 | — | $3.5M |
股东权益ACTGASLE
| Q4 25 | $543.5M | $424.4M | ||
| Q3 25 | $537.6M | $417.1M | ||
| Q2 25 | $538.6M | $415.9M | ||
| Q1 25 | $540.2M | $406.5M | ||
| Q4 24 | $514.8M | $455.6M | ||
| Q3 24 | $540.2M | $451.5M | ||
| Q2 24 | $560.7M | $449.8M | ||
| Q1 24 | $568.3M | $452.0M |
总资产ACTGASLE
| Q4 25 | $771.0M | $640.5M | ||
| Q3 25 | $768.9M | $646.3M | ||
| Q2 25 | $775.5M | $646.7M | ||
| Q1 25 | $801.6M | $646.1M | ||
| Q4 24 | $756.4M | $604.7M | ||
| Q3 24 | $707.6M | $601.5M | ||
| Q2 24 | $753.6M | $598.7M | ||
| Q1 24 | $631.7M | $571.7M |
负债/权益比ACTGASLE
| Q4 25 | 0.17× | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.01× |
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 | $75.2M | $11.4M |
| 自由现金流经营现金流 - 资本支出 | — | $9.8M |
| 自由现金流率自由现金流/营收 | — | 10.8% |
| 资本支出强度资本支出/营收 | — | 1.7% |
| 现金转化率经营现金流/净利润 | 22.01× | 2.11× |
| 过去12个月自由现金流最近4个季度 | — | $-29.1M |
8季度趋势，按日历期对齐
经营现金流ACTGASLE
| Q4 25 | $75.2M | $11.4M | ||
| Q3 25 | $9.5M | $-8.9M | ||
| Q2 25 | $50.1M | $19.8M | ||
| Q1 25 | $2.4M | $-45.2M | ||
| Q4 24 | $50.1M | $37.5M | ||
| Q3 24 | $-593.0K | $10.4M | ||
| Q2 24 | $16.1M | $-15.3M | ||
| Q1 24 | $54.8M | $-21.5M |
自由现金流ACTGASLE
| Q4 25 | — | $9.8M | ||
| Q3 25 | — | $-9.8M | ||
| Q2 25 | — | $18.6M | ||
| Q1 25 | $335.0K | $-47.6M | ||
| Q4 24 | $-98.5M | $32.3M | ||
| Q3 24 | $-2.8M | $8.9M | ||
| Q2 24 | $-126.7M | $-18.9M | ||
| Q1 24 | $54.6M | $-25.0M |
自由现金流率ACTGASLE
| Q4 25 | — | 10.8% | ||
| Q3 25 | — | -13.8% | ||
| Q2 25 | — | 17.3% | ||
| Q1 25 | 0.3% | -72.4% | ||
| Q4 24 | -201.8% | 34.0% | ||
| Q3 24 | -12.1% | 10.7% | ||
| Q2 24 | -490.5% | -24.6% | ||
| Q1 24 | 224.4% | -27.7% |
资本支出强度ACTGASLE
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | 1.7% | 3.7% | ||
| Q4 24 | 304.4% | 5.6% | ||
| Q3 24 | 9.6% | 1.9% | ||
| Q2 24 | 553.0% | 4.7% | ||
| Q1 24 | 1.1% | 3.9% |
现金转化率ACTGASLE
| Q4 25 | 22.01× | 2.11× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.31× | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | 13.89× | ||
| Q3 24 | — | 20.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -3.42× |
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
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
ASLE
| Products | $57.8M | 64% |
| Maintenance | $23.2M | 26% |
| Leasing Arrangements | $9.9M | 11% |
