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ACACIA RESEARCH CORP（ACTG）与RICHARDSON ELECTRONICS, LTD.（RELL）财务数据对比。点击上方公司名可切换其他公司
RICHARDSON ELECTRONICS, LTD.的季度营收约是ACACIA RESEARCH CORP的1.0倍（$52.3M vs $50.1M），ACACIA RESEARCH CORP净利率更高（6.8% vs -0.2%，领先7.1%），RICHARDSON ELECTRONICS, LTD.同比增速更快（5.7% vs 2.6%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs -0.3%）
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。
詹姆斯·理查森集团（又名JR集团）是澳大利亚私有综合企业，业务涵盖家具、酒店、房地产及零售领域，总部位于墨尔本阿伯茨福德区，全球雇员约2300人。该企业最为消费者熟知的是其分布在澳大拉西亚和中东地区机场、边境口岸的免税零售门店，在以色列是家喻户晓的企业。
ACTG vs RELL — 直观对比
营收规模更大
RELL
是对方的1.0倍
$50.1M
营收增速更快
RELL
高出3.0%
2.6%
净利率更高
ACTG
高出7.1%
-0.2%
两年增速更快
ACTG
近两年复合增速
-0.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $52.3M |
| 净利润 | $3.4M | $-121.0K |
| 毛利率 | 12.8% | 30.7% |
| 营业利润率 | -26.1% | 0.3% |
| 净利率 | 6.8% | -0.2% |
| 营收同比 | 2.6% | 5.7% |
| 净利润同比 | 125.5% | 83.9% |
| 每股收益（稀释后） | $0.03 | — |
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ACTGRELL
| Q4 25 | $50.1M | $52.3M | ||
| Q3 25 | $59.4M | $54.6M | ||
| Q2 25 | $51.2M | — | ||
| Q1 25 | $124.4M | $53.8M | ||
| Q4 24 | $48.8M | $49.5M | ||
| Q3 24 | $23.3M | $53.7M | ||
| Q2 24 | $25.8M | — | ||
| Q1 24 | $24.3M | $52.4M |
净利润ACTGRELL
| Q4 25 | $3.4M | $-121.0K | ||
| Q3 25 | $-2.7M | $1.9M | ||
| Q2 25 | $-3.3M | — | ||
| Q1 25 | $24.3M | $-2.1M | ||
| Q4 24 | $-13.4M | $-751.0K | ||
| Q3 24 | $-14.0M | $590.0K | ||
| Q2 24 | $-8.4M | — | ||
| Q1 24 | $-186.0K | $750.0K |
毛利率ACTGRELL
| Q4 25 | 12.8% | 30.7% | ||
| Q3 25 | 21.2% | 31.0% | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 47.4% | 31.0% | ||
| Q4 24 | 17.6% | 31.0% | ||
| Q3 24 | 10.1% | 30.6% | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 49.2% | 29.5% |
营业利润率ACTGRELL
| Q4 25 | -26.1% | 0.3% | ||
| Q3 25 | -10.8% | 1.8% | ||
| Q2 25 | -24.2% | — | ||
| Q1 25 | 30.8% | -5.1% | ||
| Q4 24 | -32.4% | -1.3% | ||
| Q3 24 | -44.1% | 0.6% | ||
| Q2 24 | -18.4% | — | ||
| Q1 24 | -8.6% | 1.9% |
净利率ACTGRELL
| Q4 25 | 6.8% | -0.2% | ||
| Q3 25 | -4.6% | 3.5% | ||
| Q2 25 | -6.4% | — | ||
| Q1 25 | 19.5% | -3.8% | ||
| Q4 24 | -27.5% | -1.5% | ||
| Q3 24 | -60.0% | 1.1% | ||
| Q2 24 | -32.7% | — | ||
| Q1 24 | -0.8% | 1.4% |
每股收益（稀释后）ACTGRELL
| Q4 25 | $0.03 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $-0.03 | — | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $-0.14 | — | ||
| Q2 24 | $-0.08 | — | ||
| Q1 24 | $0.00 | — |
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 | $33.1M |
| 总债务越低越好 | $91.9M | — |
| 股东权益账面价值 | $543.5M | $158.5M |
| 总资产 | $771.0M | $201.8M |
| 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ACTGRELL
| Q4 25 | $306.7M | $33.1M | ||
| Q3 25 | $301.8M | $35.7M | ||
| Q2 25 | $316.7M | — | ||
| Q1 25 | $272.0M | $36.7M | ||
| Q4 24 | $273.9M | $26.6M | ||
| Q3 24 | $410.9M | $23.0M | ||
| Q2 24 | $441.9M | — | ||
| Q1 24 | $498.4M | $18.9M |
总债务ACTGRELL
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ACTGRELL
| Q4 25 | $543.5M | $158.5M | ||
| Q3 25 | $537.6M | $159.4M | ||
| Q2 25 | $538.6M | — | ||
| Q1 25 | $540.2M | $152.9M | ||
| Q4 24 | $514.8M | $156.2M | ||
| Q3 24 | $540.2M | $159.1M | ||
| Q2 24 | $560.7M | — | ||
| Q1 24 | $568.3M | $158.6M |
总资产ACTGRELL
| Q4 25 | $771.0M | $201.8M | ||
| Q3 25 | $768.9M | $200.1M | ||
| Q2 25 | $775.5M | — | ||
| Q1 25 | $801.6M | $189.8M | ||
| Q4 24 | $756.4M | $195.2M | ||
| Q3 24 | $707.6M | $197.9M | ||
| Q2 24 | $753.6M | — | ||
| Q1 24 | $631.7M | $193.6M |
负债/权益比ACTGRELL
| 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 | $-99.0K |
| 自由现金流经营现金流 - 资本支出 | — | $-1.7M |
| 自由现金流率自由现金流/营收 | — | -3.3% |
| 资本支出强度资本支出/营收 | — | 3.1% |
| 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 | — | $7.6M |
8季度趋势，按日历期对齐
经营现金流ACTGRELL
| Q4 25 | $75.2M | $-99.0K | ||
| Q3 25 | $9.5M | $1.4M | ||
| Q2 25 | $50.1M | — | ||
| Q1 25 | $2.4M | $4.6M | ||
| Q4 24 | $50.1M | $5.5M | ||
| Q3 24 | $-593.0K | $412.0K | ||
| Q2 24 | $16.1M | — | ||
| Q1 24 | $54.8M | $-2.5M |
自由现金流ACTGRELL
| Q4 25 | — | $-1.7M | ||
| Q3 25 | — | $342.0K | ||
| Q2 25 | — | — | ||
| Q1 25 | $335.0K | $4.1M | ||
| Q4 24 | $-98.5M | $4.9M | ||
| Q3 24 | $-2.8M | $-514.0K | ||
| Q2 24 | $-126.7M | — | ||
| Q1 24 | $54.6M | $-2.9M |
自由现金流率ACTGRELL
| Q4 25 | — | -3.3% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.3% | 7.5% | ||
| Q4 24 | -201.8% | 10.0% | ||
| Q3 24 | -12.1% | -1.0% | ||
| Q2 24 | -490.5% | — | ||
| Q1 24 | 224.4% | -5.6% |
资本支出强度ACTGRELL
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.7% | 1.0% | ||
| Q4 24 | 304.4% | 1.0% | ||
| Q3 24 | 9.6% | 1.7% | ||
| Q2 24 | 553.0% | — | ||
| Q1 24 | 1.1% | 0.8% |
现金转化率ACTGRELL
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -3.37× |
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% |
RELL
| Power And Microwave Technologies Group | $35.2M | 67% |
| Canvys | $8.8M | 17% |
| Global Energy Solutions | $8.3M | 16% |
