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ACACIA RESEARCH CORP（ACTG）与null（SWIM）财务数据对比。点击上方公司名可切换其他公司
null的季度营收约是ACACIA RESEARCH CORP的2.0倍（$100.0M vs $50.1M），ACACIA RESEARCH CORP净利率更高（6.8% vs -7.0%，领先13.8%），null同比增速更快（14.5% vs 2.6%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs -4.9%）
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。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
ACTG vs SWIM — 直观对比
营收规模更大
SWIM
是对方的2.0倍
$50.1M
营收增速更快
SWIM
高出11.9%
2.6%
净利率更高
ACTG
高出13.8%
-7.0%
两年增速更快
ACTG
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $100.0M |
| 净利润 | $3.4M | $-7.0M |
| 毛利率 | 12.8% | 28.0% |
| 营业利润率 | -26.1% | -10.7% |
| 净利率 | 6.8% | -7.0% |
| 营收同比 | 2.6% | 14.5% |
| 净利润同比 | 125.5% | 76.0% |
| 每股收益（稀释后） | $0.03 | $-0.06 |
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ACTGSWIM
| Q4 25 | $50.1M | $100.0M | ||
| Q3 25 | $59.4M | $161.9M | ||
| Q2 25 | $51.2M | $172.6M | ||
| Q1 25 | $124.4M | $111.4M | ||
| Q4 24 | $48.8M | $87.3M | ||
| Q3 24 | $23.3M | $150.5M | ||
| Q2 24 | $25.8M | $160.1M | ||
| Q1 24 | $24.3M | $110.6M |
净利润ACTGSWIM
| Q4 25 | $3.4M | $-7.0M | ||
| Q3 25 | $-2.7M | $8.1M | ||
| Q2 25 | $-3.3M | $16.0M | ||
| Q1 25 | $24.3M | $-6.0M | ||
| Q4 24 | $-13.4M | $-29.2M | ||
| Q3 24 | $-14.0M | $5.9M | ||
| Q2 24 | $-8.4M | $13.3M | ||
| Q1 24 | $-186.0K | $-7.9M |
毛利率ACTGSWIM
| Q4 25 | 12.8% | 28.0% | ||
| Q3 25 | 21.2% | 35.4% | ||
| Q2 25 | 12.8% | 37.1% | ||
| Q1 25 | 47.4% | 29.5% | ||
| Q4 24 | 17.6% | 24.6% | ||
| Q3 24 | 10.1% | 32.4% | ||
| Q2 24 | 26.2% | 33.1% | ||
| Q1 24 | 49.2% | 27.7% |
营业利润率ACTGSWIM
| Q4 25 | -26.1% | -10.7% | ||
| Q3 25 | -10.8% | 13.3% | ||
| Q2 25 | -24.2% | 14.3% | ||
| Q1 25 | 30.8% | -4.4% | ||
| Q4 24 | -32.4% | -14.9% | ||
| Q3 24 | -44.1% | 8.9% | ||
| Q2 24 | -18.4% | 12.5% | ||
| Q1 24 | -8.6% | -1.9% |
净利率ACTGSWIM
| Q4 25 | 6.8% | -7.0% | ||
| Q3 25 | -4.6% | 5.0% | ||
| Q2 25 | -6.4% | 9.3% | ||
| Q1 25 | 19.5% | -5.4% | ||
| Q4 24 | -27.5% | -33.4% | ||
| Q3 24 | -60.0% | 3.9% | ||
| Q2 24 | -32.7% | 8.3% | ||
| Q1 24 | -0.8% | -7.1% |
每股收益（稀释后）ACTGSWIM
| Q4 25 | $0.03 | $-0.06 | ||
| Q3 25 | $-0.03 | $0.07 | ||
| Q2 25 | $-0.03 | $0.13 | ||
| Q1 25 | $0.25 | $-0.05 | ||
| Q4 24 | $-0.14 | $-0.24 | ||
| Q3 24 | $-0.14 | $0.05 | ||
| Q2 24 | $-0.08 | $0.11 | ||
| Q1 24 | $0.00 | $-0.07 |
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 | — |
| 总债务越低越好 | $91.9M | $279.8M |
| 股东权益账面价值 | $543.5M | $405.9M |
| 总资产 | $771.0M | $823.2M |
| 负债/权益比越低杠杆越低 | 0.17× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资ACTGSWIM
| Q4 25 | $306.7M | — | ||
| Q3 25 | $301.8M | — | ||
| Q2 25 | $316.7M | — | ||
| Q1 25 | $272.0M | — | ||
| Q4 24 | $273.9M | — | ||
| Q3 24 | $410.9M | — | ||
| Q2 24 | $441.9M | — | ||
| Q1 24 | $498.4M | — |
总债务ACTGSWIM
| Q4 25 | $91.9M | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
股东权益ACTGSWIM
| Q4 25 | $543.5M | $405.9M | ||
| Q3 25 | $537.6M | $408.4M | ||
| Q2 25 | $538.6M | $398.4M | ||
| Q1 25 | $540.2M | $381.1M | ||
| Q4 24 | $514.8M | $387.2M | ||
| Q3 24 | $540.2M | $416.6M | ||
| Q2 24 | $560.7M | $408.1M | ||
| Q1 24 | $568.3M | $391.8M |
总资产ACTGSWIM
| Q4 25 | $771.0M | $823.2M | ||
| Q3 25 | $768.9M | $844.4M | ||
| Q2 25 | $775.5M | $822.1M | ||
| Q1 25 | $801.6M | $824.6M | ||
| Q4 24 | $756.4M | $794.2M | ||
| Q3 24 | $707.6M | $853.4M | ||
| Q2 24 | $753.6M | $830.0M | ||
| Q1 24 | $631.7M | $808.6M |
负债/权益比ACTGSWIM
| Q4 25 | 0.17× | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $14.1M |
| 自由现金流率自由现金流/营收 | — | 14.1% |
| 资本支出强度资本支出/营收 | — | 9.2% |
| 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 | — | $38.0M |
8季度趋势，按日历期对齐
经营现金流ACTGSWIM
| Q4 25 | $75.2M | $23.3M | ||
| Q3 25 | $9.5M | $51.0M | ||
| Q2 25 | $50.1M | $36.0M | ||
| Q1 25 | $2.4M | $-46.9M | ||
| Q4 24 | $50.1M | $6.2M | ||
| Q3 24 | $-593.0K | $37.2M | ||
| Q2 24 | $16.1M | $52.4M | ||
| Q1 24 | $54.8M | $-34.5M |
自由现金流ACTGSWIM
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | $335.0K | $-50.3M | ||
| Q4 24 | $-98.5M | $-98.0K | ||
| Q3 24 | $-2.8M | $33.2M | ||
| Q2 24 | $-126.7M | $47.9M | ||
| Q1 24 | $54.6M | $-39.9M |
自由现金流率ACTGSWIM
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | 0.3% | -45.2% | ||
| Q4 24 | -201.8% | -0.1% | ||
| Q3 24 | -12.1% | 22.1% | ||
| Q2 24 | -490.5% | 29.9% | ||
| Q1 24 | 224.4% | -36.0% |
资本支出强度ACTGSWIM
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | 1.7% | 3.1% | ||
| Q4 24 | 304.4% | 7.2% | ||
| Q3 24 | 9.6% | 2.7% | ||
| Q2 24 | 553.0% | 2.8% | ||
| Q1 24 | 1.1% | 4.8% |
现金转化率ACTGSWIM
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
