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ACACIA RESEARCH CORP（ACTG）与Stran & Company, Inc.（SWAG）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Stran & Company, Inc.的1.7倍（$50.1M vs $28.9M），ACACIA RESEARCH CORP净利率更高（6.8% vs 0.8%，领先6.0%），Stran & Company, Inc.同比增速更快（7.2% vs 2.6%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 24.0%）
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。
Stran & Company, Inc.是品牌促销产品、定制周边及一体化营销解决方案供应商，服务覆盖零售、医疗、科技、教育等领域企业客户，助力客户开展品牌宣传、用户运营及员工激励相关工作。
ACTG vs SWAG — 直观对比
营收规模更大
ACTG
是对方的1.7倍
$28.9M
营收增速更快
SWAG
高出4.6%
2.6%
净利率更高
ACTG
高出6.0%
0.8%
两年增速更快
ACTG
近两年复合增速
24.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $28.9M |
| 净利润 | $3.4M | $243.0K |
| 毛利率 | 12.8% | 30.4% |
| 营业利润率 | -26.1% | -0.1% |
| 净利率 | 6.8% | 0.8% |
| 营收同比 | 2.6% | 7.2% |
| 净利润同比 | 125.5% | 141.5% |
| 每股收益（稀释后） | $0.03 | $0.02 |
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ACTGSWAG
| Q4 25 | $50.1M | $28.9M | ||
| Q3 25 | $59.4M | $26.0M | ||
| Q2 25 | $51.2M | $32.6M | ||
| Q1 25 | $124.4M | $28.7M | ||
| Q4 24 | $48.8M | $27.0M | ||
| Q3 24 | $23.3M | $20.1M | ||
| Q2 24 | $25.8M | $16.7M | ||
| Q1 24 | $24.3M | $18.8M |
净利润ACTGSWAG
| Q4 25 | $3.4M | $243.0K | ||
| Q3 25 | $-2.7M | $-1.2M | ||
| Q2 25 | $-3.3M | $643.0K | ||
| Q1 25 | $24.3M | $-393.0K | ||
| Q4 24 | $-13.4M | $-586.0K | ||
| Q3 24 | $-14.0M | $-2.0M | ||
| Q2 24 | $-8.4M | $-1.0M | ||
| Q1 24 | $-186.0K | $-491.0K |
毛利率ACTGSWAG
| Q4 25 | 12.8% | 30.4% | ||
| Q3 25 | 21.2% | 27.2% | ||
| Q2 25 | 12.8% | 30.3% | ||
| Q1 25 | 47.4% | 29.6% | ||
| Q4 24 | 17.6% | 32.5% | ||
| Q3 24 | 10.1% | 29.5% | ||
| Q2 24 | 26.2% | 32.8% | ||
| Q1 24 | 49.2% | 29.8% |
营业利润率ACTGSWAG
| Q4 25 | -26.1% | -0.1% | ||
| Q3 25 | -10.8% | -6.9% | ||
| Q2 25 | -24.2% | 1.2% | ||
| Q1 25 | 30.8% | -1.9% | ||
| Q4 24 | -32.4% | -3.5% | ||
| Q3 24 | -44.1% | -10.8% | ||
| Q2 24 | -18.4% | -6.6% | ||
| Q1 24 | -8.6% | -3.5% |
净利率ACTGSWAG
| Q4 25 | 6.8% | 0.8% | ||
| Q3 25 | -4.6% | -4.8% | ||
| Q2 25 | -6.4% | 2.0% | ||
| Q1 25 | 19.5% | -1.4% | ||
| Q4 24 | -27.5% | -2.2% | ||
| Q3 24 | -60.0% | -10.1% | ||
| Q2 24 | -32.7% | -6.1% | ||
| Q1 24 | -0.8% | -2.6% |
每股收益（稀释后）ACTGSWAG
| Q4 25 | $0.03 | $0.02 | ||
| Q3 25 | $-0.03 | $-0.07 | ||
| Q2 25 | $-0.03 | $0.03 | ||
| Q1 25 | $0.25 | $-0.02 | ||
| Q4 24 | $-0.14 | $-0.02 | ||
| Q3 24 | $-0.14 | $-0.11 | ||
| Q2 24 | $-0.08 | $-0.06 | ||
| Q1 24 | $0.00 | $-0.03 |
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 | $11.6M |
| 总债务越低越好 | $91.9M | — |
| 股东权益账面价值 | $543.5M | $30.5M |
| 总资产 | $771.0M | $49.3M |
| 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ACTGSWAG
| Q4 25 | $306.7M | $11.6M | ||
| Q3 25 | $301.8M | $11.8M | ||
| Q2 25 | $316.7M | $18.1M | ||
| Q1 25 | $272.0M | $12.2M | ||
| Q4 24 | $273.9M | $18.2M | ||
| Q3 24 | $410.9M | $6.9M | ||
| Q2 24 | $441.9M | $9.6M | ||
| Q1 24 | $498.4M | $10.7M |
总债务ACTGSWAG
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ACTGSWAG
| Q4 25 | $543.5M | $30.5M | ||
| Q3 25 | $537.6M | $30.2M | ||
| Q2 25 | $538.6M | $31.8M | ||
| Q1 25 | $540.2M | $31.3M | ||
| Q4 24 | $514.8M | $31.6M | ||
| Q3 24 | $540.2M | $32.3M | ||
| Q2 24 | $560.7M | $34.3M | ||
| Q1 24 | $568.3M | $35.2M |
总资产ACTGSWAG
| Q4 25 | $771.0M | $49.3M | ||
| Q3 25 | $768.9M | $50.3M | ||
| Q2 25 | $775.5M | $61.2M | ||
| Q1 25 | $801.6M | $52.2M | ||
| Q4 24 | $756.4M | $55.1M | ||
| Q3 24 | $707.6M | $48.8M | ||
| Q2 24 | $753.6M | $46.6M | ||
| Q1 24 | $631.7M | $47.9M |
负债/权益比ACTGSWAG
| 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 | $161.0K |
| 自由现金流经营现金流 - 资本支出 | — | $38.0K |
| 自由现金流率自由现金流/营收 | — | 0.1% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 现金转化率经营现金流/净利润 | 22.01× | 0.66× |
| 过去12个月自由现金流最近4个季度 | — | $-5.5M |
8季度趋势，按日历期对齐
经营现金流ACTGSWAG
| Q4 25 | $75.2M | $161.0K | ||
| Q3 25 | $9.5M | $-5.4M | ||
| Q2 25 | $50.1M | $6.4M | ||
| Q1 25 | $2.4M | $-5.9M | ||
| Q4 24 | $50.1M | $1.3M | ||
| Q3 24 | $-593.0K | $-2.7M | ||
| Q2 24 | $16.1M | $2.1M | ||
| Q1 24 | $54.8M | $2.1M |
自由现金流ACTGSWAG
| Q4 25 | — | $38.0K | ||
| Q3 25 | — | $-5.9M | ||
| Q2 25 | — | $6.3M | ||
| Q1 25 | $335.0K | $-6.0M | ||
| Q4 24 | $-98.5M | $1.2M | ||
| Q3 24 | $-2.8M | $-2.9M | ||
| Q2 24 | $-126.7M | $1.9M | ||
| Q1 24 | $54.6M | $1.9M |
自由现金流率ACTGSWAG
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | -22.6% | ||
| Q2 25 | — | 19.5% | ||
| Q1 25 | 0.3% | -21.0% | ||
| Q4 24 | -201.8% | 4.6% | ||
| Q3 24 | -12.1% | -14.3% | ||
| Q2 24 | -490.5% | 11.6% | ||
| Q1 24 | 224.4% | 9.9% |
资本支出强度ACTGSWAG
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | 1.7% | 0.4% | ||
| Q4 24 | 304.4% | 0.3% | ||
| Q3 24 | 9.6% | 0.7% | ||
| Q2 24 | 553.0% | 1.1% | ||
| Q1 24 | 1.1% | 1.0% |
现金转化率ACTGSWAG
| Q4 25 | 22.01× | 0.66× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 9.99× | ||
| 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% |
SWAG
| Promotional Products Dropshipping | $11.2M | 39% |
| Casino Continuity Program | $6.9M | 24% |
| Promotional Products Company Owned Inventory | $4.6M | 16% |
| Promotional Products Bulk Dropshipping | $3.8M | 13% |
| Promotional Products Thirdparty Distributor | $1.8M | 6% |
| Other | $610.0K | 2% |
