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ACACIA RESEARCH CORP（ACTG）与MESA LABORATORIES INC（MLAB）财务数据对比。点击上方公司名可切换其他公司
MESA LABORATORIES INC的季度营收约是ACACIA RESEARCH CORP的1.3倍（$65.1M vs $50.1M），ACACIA RESEARCH CORP净利率更高（6.8% vs 5.6%，领先1.2%），MESA LABORATORIES INC同比增速更快（3.6% vs 2.6%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 5.1%）
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。
梅萨实验室有限公司开发、生产和销售专业质控、校准及监测仪器与配套服务，核心业务覆盖医疗健康、制药、食品饮料、工业卫生及环境检测领域，为全球客户满足合规及运营安全需求提供支持。
ACTG vs MLAB — 直观对比
营收规模更大
MLAB
是对方的1.3倍
$50.1M
营收增速更快
MLAB
高出1.0%
2.6%
净利率更高
ACTG
高出1.2%
5.6%
两年增速更快
ACTG
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $65.1M |
| 净利润 | $3.4M | $3.6M |
| 毛利率 | 12.8% | 64.2% |
| 营业利润率 | -26.1% | 12.2% |
| 净利率 | 6.8% | 5.6% |
| 营收同比 | 2.6% | 3.6% |
| 净利润同比 | 125.5% | 316.6% |
| 每股收益（稀释后） | $0.03 | $0.65 |
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ACTGMLAB
| Q4 25 | $50.1M | $65.1M | ||
| Q3 25 | $59.4M | $60.7M | ||
| Q2 25 | $51.2M | $59.5M | ||
| Q1 25 | $124.4M | $62.1M | ||
| Q4 24 | $48.8M | $62.8M | ||
| Q3 24 | $23.3M | $57.8M | ||
| Q2 24 | $25.8M | $58.2M | ||
| Q1 24 | $24.3M | $58.9M |
净利润ACTGMLAB
| Q4 25 | $3.4M | $3.6M | ||
| Q3 25 | $-2.7M | $2.5M | ||
| Q2 25 | $-3.3M | $4.7M | ||
| Q1 25 | $24.3M | $-7.1M | ||
| Q4 24 | $-13.4M | $-1.7M | ||
| Q3 24 | $-14.0M | $3.4M | ||
| Q2 24 | $-8.4M | $3.4M | ||
| Q1 24 | $-186.0K | $-254.6M |
毛利率ACTGMLAB
| Q4 25 | 12.8% | 64.2% | ||
| Q3 25 | 21.2% | 61.5% | ||
| Q2 25 | 12.8% | 62.0% | ||
| Q1 25 | 47.4% | 61.8% | ||
| Q4 24 | 17.6% | 63.3% | ||
| Q3 24 | 10.1% | 61.3% | ||
| Q2 24 | 26.2% | 64.0% | ||
| Q1 24 | 49.2% | 62.1% |
营业利润率ACTGMLAB
| Q4 25 | -26.1% | 12.2% | ||
| Q3 25 | -10.8% | 7.8% | ||
| Q2 25 | -24.2% | 5.1% | ||
| Q1 25 | 30.8% | 2.4% | ||
| Q4 24 | -32.4% | 9.2% | ||
| Q3 24 | -44.1% | 6.1% | ||
| Q2 24 | -18.4% | 9.6% | ||
| Q1 24 | -8.6% | -460.6% |
净利率ACTGMLAB
| Q4 25 | 6.8% | 5.6% | ||
| Q3 25 | -4.6% | 4.1% | ||
| Q2 25 | -6.4% | 8.0% | ||
| Q1 25 | 19.5% | -11.4% | ||
| Q4 24 | -27.5% | -2.7% | ||
| Q3 24 | -60.0% | 5.9% | ||
| Q2 24 | -32.7% | 5.8% | ||
| Q1 24 | -0.8% | -432.2% |
每股收益（稀释后）ACTGMLAB
| Q4 25 | $0.03 | $0.65 | ||
| Q3 25 | $-0.03 | $0.45 | ||
| Q2 25 | $-0.03 | $0.85 | ||
| Q1 25 | $0.25 | $-1.30 | ||
| Q4 24 | $-0.14 | $-0.31 | ||
| Q3 24 | $-0.14 | $0.63 | ||
| Q2 24 | $-0.08 | $0.62 | ||
| Q1 24 | $0.00 | $-47.26 |
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 | $29.0M |
| 总债务越低越好 | $91.9M | $68.4M |
| 股东权益账面价值 | $543.5M | $186.7M |
| 总资产 | $771.0M | $434.8M |
| 负债/权益比越低杠杆越低 | 0.17× | 0.37× |
8季度趋势，按日历期对齐
现金及短期投资ACTGMLAB
| Q4 25 | $306.7M | $29.0M | ||
| Q3 25 | $301.8M | $20.4M | ||
| Q2 25 | $316.7M | $21.3M | ||
| Q1 25 | $272.0M | $27.3M | ||
| Q4 24 | $273.9M | $27.3M | ||
| Q3 24 | $410.9M | $24.3M | ||
| Q2 24 | $441.9M | $28.5M | ||
| Q1 24 | $498.4M | $28.2M |
总债务ACTGMLAB
| Q4 25 | $91.9M | $68.4M | ||
| Q3 25 | — | $69.4M | ||
| Q2 25 | — | $70.3M | ||
| Q1 25 | — | $71.3M | ||
| Q4 24 | — | $72.2M | ||
| Q3 24 | — | $73.1M | ||
| Q2 24 | — | $74.1M | ||
| Q1 24 | — | — |
股东权益ACTGMLAB
| Q4 25 | $543.5M | $186.7M | ||
| Q3 25 | $537.6M | $178.5M | ||
| Q2 25 | $538.6M | $172.5M | ||
| Q1 25 | $540.2M | $159.8M | ||
| Q4 24 | $514.8M | $155.2M | ||
| Q3 24 | $540.2M | $161.5M | ||
| Q2 24 | $560.7M | $150.7M | ||
| Q1 24 | $568.3M | $145.4M |
总资产ACTGMLAB
| Q4 25 | $771.0M | $434.8M | ||
| Q3 25 | $768.9M | $430.4M | ||
| Q2 25 | $775.5M | $435.7M | ||
| Q1 25 | $801.6M | $433.3M | ||
| Q4 24 | $756.4M | $433.3M | ||
| Q3 24 | $707.6M | $454.1M | ||
| Q2 24 | $753.6M | $440.4M | ||
| Q1 24 | $631.7M | $446.8M |
负债/权益比ACTGMLAB
| Q4 25 | 0.17× | 0.37× | ||
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.45× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | — |
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 | $18.8M |
| 自由现金流经营现金流 - 资本支出 | — | $18.0M |
| 自由现金流率自由现金流/营收 | — | 27.7% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | 22.01× | 5.17× |
| 过去12个月自由现金流最近4个季度 | — | $37.9M |
8季度趋势，按日历期对齐
经营现金流ACTGMLAB
| Q4 25 | $75.2M | $18.8M | ||
| Q3 25 | $9.5M | $8.2M | ||
| Q2 25 | $50.1M | $1.9M | ||
| Q1 25 | $2.4M | $12.7M | ||
| Q4 24 | $50.1M | $18.1M | ||
| Q3 24 | $-593.0K | $5.3M | ||
| Q2 24 | $16.1M | $10.7M | ||
| Q1 24 | $54.8M | $12.9M |
自由现金流ACTGMLAB
| Q4 25 | — | $18.0M | ||
| Q3 25 | — | $7.1M | ||
| Q2 25 | — | $884.0K | ||
| Q1 25 | $335.0K | $11.9M | ||
| Q4 24 | $-98.5M | $17.3M | ||
| Q3 24 | $-2.8M | $3.5M | ||
| Q2 24 | $-126.7M | $9.9M | ||
| Q1 24 | $54.6M | $12.3M |
自由现金流率ACTGMLAB
| Q4 25 | — | 27.7% | ||
| Q3 25 | — | 11.7% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | 0.3% | 19.2% | ||
| Q4 24 | -201.8% | 27.6% | ||
| Q3 24 | -12.1% | 6.0% | ||
| Q2 24 | -490.5% | 16.9% | ||
| Q1 24 | 224.4% | 21.0% |
资本支出强度ACTGMLAB
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | 1.7% | 1.2% | ||
| Q4 24 | 304.4% | 1.3% | ||
| Q3 24 | 9.6% | 3.1% | ||
| Q2 24 | 553.0% | 1.5% | ||
| Q1 24 | 1.1% | 0.9% |
现金转化率ACTGMLAB
| Q4 25 | 22.01× | 5.17× | ||
| Q3 25 | — | 3.32× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.54× | ||
| Q2 24 | — | 3.17× | ||
| Q1 24 | — | — |
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% |
MLAB
| Sterilization And Disinfection Control | $24.9M | 38% |
| Biopharmaceutical Development | $14.4M | 22% |
| Other | $14.1M | 22% |
| Clinical Genomics | $11.8M | 18% |
