vs
ACACIA RESEARCH CORP（ACTG）与Planet Labs PBC（PL）财务数据对比。点击上方公司名可切换其他公司
Planet Labs PBC的季度营收约是ACACIA RESEARCH CORP的1.6倍（$81.3M vs $50.1M），ACACIA RESEARCH CORP净利率更高（6.8% vs -72.8%，领先79.7%），Planet Labs PBC同比增速更快（32.6% vs 2.6%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 17.5%）
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。
Planet Labs PBC（常简称为Planet）是总部位于美国加利福尼亚州旧金山的上市地球影像企业，核心目标是实现全球范围的每日成像，以此监测地表变化、精准识别相关趋势，为多行业的地理数据分析需求提供可靠的数据支持。
ACTG vs PL — 直观对比
营收规模更大
PL
是对方的1.6倍
$50.1M
营收增速更快
PL
高出30.0%
2.6%
净利率更高
ACTG
高出79.7%
-72.8%
两年增速更快
ACTG
近两年复合增速
17.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $81.3M |
| 净利润 | $3.4M | $-59.2M |
| 毛利率 | 12.8% | 57.3% |
| 营业利润率 | -26.1% | -22.6% |
| 净利率 | 6.8% | -72.8% |
| 营收同比 | 2.6% | 32.6% |
| 净利润同比 | 125.5% | -194.7% |
| 每股收益（稀释后） | $0.03 | $-0.19 |
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ACTGPL
| Q4 25 | $50.1M | $81.3M | ||
| Q3 25 | $59.4M | $73.4M | ||
| Q2 25 | $51.2M | $66.3M | ||
| Q1 25 | $124.4M | $61.6M | ||
| Q4 24 | $48.8M | $61.3M | ||
| Q3 24 | $23.3M | $61.1M | ||
| Q2 24 | $25.8M | $60.4M | ||
| Q1 24 | $24.3M | $58.9M |
净利润ACTGPL
| Q4 25 | $3.4M | $-59.2M | ||
| Q3 25 | $-2.7M | $-22.6M | ||
| Q2 25 | $-3.3M | $-12.6M | ||
| Q1 25 | $24.3M | $-35.2M | ||
| Q4 24 | $-13.4M | $-20.1M | ||
| Q3 24 | $-14.0M | $-38.7M | ||
| Q2 24 | $-8.4M | $-29.3M | ||
| Q1 24 | $-186.0K | $-30.1M |
毛利率ACTGPL
| Q4 25 | 12.8% | 57.3% | ||
| Q3 25 | 21.2% | 57.6% | ||
| Q2 25 | 12.8% | 55.2% | ||
| Q1 25 | 47.4% | 62.1% | ||
| Q4 24 | 17.6% | 61.2% | ||
| Q3 24 | 10.1% | 52.9% | ||
| Q2 24 | 26.2% | 52.4% | ||
| Q1 24 | 49.2% | 55.2% |
营业利润率ACTGPL
| Q4 25 | -26.1% | -22.6% | ||
| Q3 25 | -10.8% | -24.5% | ||
| Q2 25 | -24.2% | -34.4% | ||
| Q1 25 | 30.8% | -31.5% | ||
| Q4 24 | -32.4% | -36.9% | ||
| Q3 24 | -44.1% | -64.8% | ||
| Q2 24 | -18.4% | -57.2% | ||
| Q1 24 | -8.6% | -57.6% |
净利率ACTGPL
| Q4 25 | 6.8% | -72.8% | ||
| Q3 25 | -4.6% | -30.8% | ||
| Q2 25 | -6.4% | -19.1% | ||
| Q1 25 | 19.5% | -57.1% | ||
| Q4 24 | -27.5% | -32.8% | ||
| Q3 24 | -60.0% | -63.3% | ||
| Q2 24 | -32.7% | -48.5% | ||
| Q1 24 | -0.8% | -51.1% |
每股收益（稀释后）ACTGPL
| Q4 25 | $0.03 | $-0.19 | ||
| Q3 25 | $-0.03 | $-0.07 | ||
| Q2 25 | $-0.03 | $-0.04 | ||
| Q1 25 | $0.25 | $-0.12 | ||
| Q4 24 | $-0.14 | $-0.07 | ||
| Q3 24 | $-0.14 | $-0.13 | ||
| Q2 24 | $-0.08 | $-0.10 | ||
| Q1 24 | $0.00 | $-0.10 |
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 | $443.3M |
| 总债务越低越好 | $91.9M | — |
| 股东权益账面价值 | $543.5M | $349.6M |
| 总资产 | $771.0M | $1.1B |
| 负债/权益比越低杠杆越低 | 0.17× | — |
8季度趋势，按日历期对齐
现金及短期投资ACTGPL
| Q4 25 | $306.7M | $443.3M | ||
| Q3 25 | $301.8M | $181.1M | ||
| Q2 25 | $316.7M | $133.5M | ||
| Q1 25 | $272.0M | $118.0M | ||
| Q4 24 | $273.9M | $139.0M | ||
| Q3 24 | $410.9M | $148.3M | ||
| Q2 24 | $441.9M | $107.4M | ||
| Q1 24 | $498.4M | $83.9M |
总债务ACTGPL
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ACTGPL
| Q4 25 | $543.5M | $349.6M | ||
| Q3 25 | $537.6M | $435.7M | ||
| Q2 25 | $538.6M | $444.8M | ||
| Q1 25 | $540.2M | $441.3M | ||
| Q4 24 | $514.8M | $464.6M | ||
| Q3 24 | $540.2M | $473.2M | ||
| Q2 24 | $560.7M | $500.3M | ||
| Q1 24 | $568.3M | $518.0M |
总资产ACTGPL
| Q4 25 | $771.0M | $1.1B | ||
| Q3 25 | $768.9M | $696.4M | ||
| Q2 25 | $775.5M | $658.4M | ||
| Q1 25 | $801.6M | $633.8M | ||
| Q4 24 | $756.4M | $630.8M | ||
| Q3 24 | $707.6M | $658.4M | ||
| Q2 24 | $753.6M | $674.6M | ||
| Q1 24 | $631.7M | $702.0M |
负债/权益比ACTGPL
| Q4 25 | 0.17× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $28.6M |
| 自由现金流经营现金流 - 资本支出 | — | $1.9M |
| 自由现金流率自由现金流/营收 | — | 2.3% |
| 资本支出强度资本支出/营收 | — | 32.9% |
| 现金转化率经营现金流/净利润 | 22.01× | — |
| 过去12个月自由现金流最近4个季度 | — | $40.7M |
8季度趋势，按日历期对齐
经营现金流ACTGPL
| Q4 25 | $75.2M | $28.6M | ||
| Q3 25 | $9.5M | $67.8M | ||
| Q2 25 | $50.1M | $17.3M | ||
| Q1 25 | $2.4M | $-6.3M | ||
| Q4 24 | $50.1M | $4.1M | ||
| Q3 24 | $-593.0K | $-7.9M | ||
| Q2 24 | $16.1M | $-4.3M | ||
| Q1 24 | $54.8M | $-6.8M |
自由现金流ACTGPL
| Q4 25 | — | $1.9M | ||
| Q3 25 | — | $47.5M | ||
| Q2 25 | — | $9.2M | ||
| Q1 25 | $335.0K | $-17.9M | ||
| Q4 24 | $-98.5M | $-3.6M | ||
| Q3 24 | $-2.8M | $-23.0M | ||
| Q2 24 | $-126.7M | $-14.2M | ||
| Q1 24 | $54.6M | $-15.7M |
自由现金流率ACTGPL
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 64.7% | ||
| Q2 25 | — | 13.9% | ||
| Q1 25 | 0.3% | -29.1% | ||
| Q4 24 | -201.8% | -5.8% | ||
| Q3 24 | -12.1% | -37.6% | ||
| Q2 24 | -490.5% | -23.6% | ||
| Q1 24 | 224.4% | -26.7% |
资本支出强度ACTGPL
| Q4 25 | — | 32.9% | ||
| Q3 25 | — | 27.6% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | 1.7% | 18.9% | ||
| Q4 24 | 304.4% | 12.5% | ||
| Q3 24 | 9.6% | 24.8% | ||
| Q2 24 | 553.0% | 16.4% | ||
| Q1 24 | 1.1% | 15.1% |
现金转化率ACTGPL
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
PL
| Defense And Intelligence | $49.4M | 61% |
| Civil Government | $18.8M | 23% |
| Commercial | $13.1M | 16% |
