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ACACIA RESEARCH CORP（ACTG）与Star Holdings（STHO）财务数据对比。点击上方公司名可切换其他公司
ACACIA RESEARCH CORP的季度营收约是Star Holdings的2.0倍（$50.1M vs $25.4M），ACACIA RESEARCH CORP净利率更高（6.8% vs -75.5%，领先82.3%），ACACIA RESEARCH CORP同比增速更快（2.6% vs -22.6%），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。
蓝星有限公司是一家印度跨国家电企业，总部位于孟买，主营空调、商用制冷以及机电工程业务，是印度本土市场规模第二大的空调领域本土企业。
ACTG vs STHO — 直观对比
营收规模更大
ACTG
是对方的2.0倍
$25.4M
营收增速更快
ACTG
高出25.2%
-22.6%
净利率更高
ACTG
高出82.3%
-75.5%
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 | $25.4M |
| 净利润 | $3.4M | $-19.1M |
| 毛利率 | 12.8% | — |
| 营业利润率 | -26.1% | -91.7% |
| 净利率 | 6.8% | -75.5% |
| 营收同比 | 2.6% | -22.6% |
| 净利润同比 | 125.5% | 81.3% |
| 每股收益（稀释后） | $0.03 | $-1.52 |
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ACTGSTHO
| Q4 25 | $50.1M | $25.4M | ||
| Q3 25 | $59.4M | $28.1M | ||
| Q2 25 | $51.2M | $42.1M | ||
| Q1 25 | $124.4M | $14.6M | ||
| Q4 24 | $48.8M | $32.8M | ||
| Q3 24 | $23.3M | $24.6M | ||
| Q2 24 | $25.8M | $30.6M | ||
| Q1 24 | $24.3M | $25.4M |
净利润ACTGSTHO
| Q4 25 | $3.4M | $-19.1M | ||
| Q3 25 | $-2.7M | $1.8M | ||
| Q2 25 | $-3.3M | $-39.3M | ||
| Q1 25 | $24.3M | $-7.6M | ||
| Q4 24 | $-13.4M | $-102.6M | ||
| Q3 24 | $-14.0M | $91.9M | ||
| Q2 24 | $-8.4M | $-27.1M | ||
| Q1 24 | $-186.0K | $-49.0M |
毛利率ACTGSTHO
| Q4 25 | 12.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 47.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 49.2% | — |
营业利润率ACTGSTHO
| Q4 25 | -26.1% | -91.7% | ||
| Q3 25 | -10.8% | 1.0% | ||
| Q2 25 | -24.2% | -94.5% | ||
| Q1 25 | 30.8% | -55.0% | ||
| Q4 24 | -32.4% | -314.1% | ||
| Q3 24 | -44.1% | — | ||
| Q2 24 | -18.4% | -91.5% | ||
| Q1 24 | -8.6% | -192.6% |
净利率ACTGSTHO
| Q4 25 | 6.8% | -75.5% | ||
| Q3 25 | -4.6% | 6.4% | ||
| Q2 25 | -6.4% | -93.5% | ||
| Q1 25 | 19.5% | -52.0% | ||
| Q4 24 | -27.5% | -313.1% | ||
| Q3 24 | -60.0% | 374.3% | ||
| Q2 24 | -32.7% | -88.8% | ||
| Q1 24 | -0.8% | -192.6% |
每股收益（稀释后）ACTGSTHO
| Q4 25 | $0.03 | $-1.52 | ||
| Q3 25 | $-0.03 | $0.14 | ||
| Q2 25 | $-0.03 | $-2.95 | ||
| Q1 25 | $0.25 | $-0.57 | ||
| Q4 24 | $-0.14 | $-7.69 | ||
| Q3 24 | $-0.14 | $6.90 | ||
| Q2 24 | $-0.08 | $-2.04 | ||
| Q1 24 | $0.00 | $-3.68 |
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 | $50.1M |
| 总债务越低越好 | $91.9M | $268.7M |
| 股东权益账面价值 | $543.5M | $251.8M |
| 总资产 | $771.0M | $570.2M |
| 负债/权益比越低杠杆越低 | 0.17× | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资ACTGSTHO
| Q4 25 | $306.7M | $50.1M | ||
| Q3 25 | $301.8M | $40.6M | ||
| Q2 25 | $316.7M | $44.2M | ||
| Q1 25 | $272.0M | $30.3M | ||
| Q4 24 | $273.9M | $35.0M | ||
| Q3 24 | $410.9M | $45.0M | ||
| Q2 24 | $441.9M | $48.3M | ||
| Q1 24 | $498.4M | $45.7M |
总债务ACTGSTHO
| Q4 25 | $91.9M | $268.7M | ||
| Q3 25 | — | $259.3M | ||
| Q2 25 | — | $245.4M | ||
| Q1 25 | — | $231.5M | ||
| Q4 24 | — | $217.3M | ||
| Q3 24 | — | $201.2M | ||
| Q2 24 | — | $197.2M | ||
| Q1 24 | — | $195.0M |
股东权益ACTGSTHO
| Q4 25 | $543.5M | $251.8M | ||
| Q3 25 | $537.6M | $275.4M | ||
| Q2 25 | $538.6M | $276.1M | ||
| Q1 25 | $540.2M | $316.1M | ||
| Q4 24 | $514.8M | $324.3M | ||
| Q3 24 | $540.2M | $427.5M | ||
| Q2 24 | $560.7M | $335.3M | ||
| Q1 24 | $568.3M | $362.4M |
总资产ACTGSTHO
| Q4 25 | $771.0M | $570.2M | ||
| Q3 25 | $768.9M | $595.9M | ||
| Q2 25 | $775.5M | $589.9M | ||
| Q1 25 | $801.6M | $618.2M | ||
| Q4 24 | $756.4M | $608.7M | ||
| Q3 24 | $707.6M | $696.5M | ||
| Q2 24 | $753.6M | $601.0M | ||
| Q1 24 | $631.7M | $622.9M |
负债/权益比ACTGSTHO
| Q4 25 | 0.17× | 1.07× | ||
| Q3 25 | — | 0.94× | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.59× | ||
| Q1 24 | — | 0.54× |
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 | $-11.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流ACTGSTHO
| Q4 25 | $75.2M | $-11.7M | ||
| Q3 25 | $9.5M | $5.3M | ||
| Q2 25 | $50.1M | $-2.6M | ||
| Q1 25 | $2.4M | $-6.3M | ||
| Q4 24 | $50.1M | $-31.3M | ||
| Q3 24 | $-593.0K | $-3.8M | ||
| Q2 24 | $16.1M | $-6.4M | ||
| Q1 24 | $54.8M | $-14.2M |
自由现金流ACTGSTHO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $335.0K | — | ||
| Q4 24 | $-98.5M | — | ||
| Q3 24 | $-2.8M | — | ||
| Q2 24 | $-126.7M | — | ||
| Q1 24 | $54.6M | — |
自由现金流率ACTGSTHO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | -201.8% | — | ||
| Q3 24 | -12.1% | — | ||
| Q2 24 | -490.5% | — | ||
| Q1 24 | 224.4% | — |
资本支出强度ACTGSTHO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 304.4% | — | ||
| Q3 24 | 9.6% | — | ||
| Q2 24 | 553.0% | — | ||
| Q1 24 | 1.1% | — |
现金转化率ACTGSTHO
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.04× | ||
| 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% |
STHO
| Land Development | $13.0M | 51% |
| Other Income Revenue | $9.3M | 37% |
| Operating Lease Income | $2.0M | 8% |
| Other | $1.2M | 5% |
