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ACACIA RESEARCH CORP（ACTG）与TELOS CORP（TLS）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TELOS CORP的1.1倍（$50.1M vs $46.8M），ACACIA RESEARCH CORP净利率更高（6.8% vs -34.9%，领先41.7%），TELOS CORP同比增速更快（77.4% vs 2.6%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 25.7%）
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。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
ACTG vs TLS — 直观对比
营收规模更大
ACTG
是对方的1.1倍
$46.8M
营收增速更快
TLS
高出74.7%
2.6%
净利率更高
ACTG
高出41.7%
-34.9%
两年增速更快
ACTG
近两年复合增速
25.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $46.8M |
| 净利润 | $3.4M | $-16.3M |
| 毛利率 | 12.8% | 35.0% |
| 营业利润率 | -26.1% | -39.6% |
| 净利率 | 6.8% | -34.9% |
| 营收同比 | 2.6% | 77.4% |
| 净利润同比 | 125.5% | -74.8% |
| 每股收益（稀释后） | $0.03 | $-0.22 |
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ACTGTLS
| Q4 25 | $50.1M | $46.8M | ||
| Q3 25 | $59.4M | $51.4M | ||
| Q2 25 | $51.2M | $36.0M | ||
| Q1 25 | $124.4M | $30.6M | ||
| Q4 24 | $48.8M | $26.4M | ||
| Q3 24 | $23.3M | $23.8M | ||
| Q2 24 | $25.8M | $28.5M | ||
| Q1 24 | $24.3M | $29.6M |
净利润ACTGTLS
| Q4 25 | $3.4M | $-16.3M | ||
| Q3 25 | $-2.7M | $-2.1M | ||
| Q2 25 | $-3.3M | $-9.5M | ||
| Q1 25 | $24.3M | $-8.6M | ||
| Q4 24 | $-13.4M | $-9.3M | ||
| Q3 24 | $-14.0M | $-28.1M | ||
| Q2 24 | $-8.4M | $-7.8M | ||
| Q1 24 | $-186.0K | $-7.4M |
毛利率ACTGTLS
| Q4 25 | 12.8% | 35.0% | ||
| Q3 25 | 21.2% | 39.9% | ||
| Q2 25 | 12.8% | 33.2% | ||
| Q1 25 | 47.4% | 39.8% | ||
| Q4 24 | 17.6% | 40.3% | ||
| Q3 24 | 10.1% | 13.2% | ||
| Q2 24 | 26.2% | 34.1% | ||
| Q1 24 | 49.2% | 37.0% |
营业利润率ACTGTLS
| Q4 25 | -26.1% | -39.6% | ||
| Q3 25 | -10.8% | -4.8% | ||
| Q2 25 | -24.2% | -27.5% | ||
| Q1 25 | 30.8% | -29.5% | ||
| Q4 24 | -32.4% | -37.6% | ||
| Q3 24 | -44.1% | -121.4% | ||
| Q2 24 | -18.4% | -30.3% | ||
| Q1 24 | -8.6% | -28.5% |
净利率ACTGTLS
| Q4 25 | 6.8% | -34.9% | ||
| Q3 25 | -4.6% | -4.1% | ||
| Q2 25 | -6.4% | -26.5% | ||
| Q1 25 | 19.5% | -28.1% | ||
| Q4 24 | -27.5% | -35.4% | ||
| Q3 24 | -60.0% | -118.0% | ||
| Q2 24 | -32.7% | -27.2% | ||
| Q1 24 | -0.8% | -24.9% |
每股收益（稀释后）ACTGTLS
| Q4 25 | $0.03 | $-0.22 | ||
| Q3 25 | $-0.03 | $-0.03 | ||
| Q2 25 | $-0.03 | $-0.13 | ||
| Q1 25 | $0.25 | $-0.12 | ||
| Q4 24 | $-0.14 | $-0.13 | ||
| Q3 24 | $-0.14 | $-0.39 | ||
| Q2 24 | $-0.08 | $-0.11 | ||
| 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 | $53.2M |
| 总债务越低越好 | $91.9M | — |
| 股东权益账面价值 | $543.5M | $96.0M |
| 总资产 | $771.0M | $139.9M |
| 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ACTGTLS
| Q4 25 | $306.7M | $53.2M | ||
| Q3 25 | $301.8M | $59.0M | ||
| Q2 25 | $316.7M | $57.0M | ||
| Q1 25 | $272.0M | $57.8M | ||
| Q4 24 | $273.9M | $54.6M | ||
| Q3 24 | $410.9M | $69.8M | ||
| Q2 24 | $441.9M | $80.1M | ||
| Q1 24 | $498.4M | $93.9M |
总债务ACTGTLS
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ACTGTLS
| Q4 25 | $543.5M | $96.0M | ||
| Q3 25 | $537.6M | $119.7M | ||
| Q2 25 | $538.6M | $118.4M | ||
| Q1 25 | $540.2M | $126.1M | ||
| Q4 24 | $514.8M | $127.1M | ||
| Q3 24 | $540.2M | $129.5M | ||
| Q2 24 | $560.7M | $149.1M | ||
| Q1 24 | $568.3M | $154.4M |
总资产ACTGTLS
| Q4 25 | $771.0M | $139.9M | ||
| Q3 25 | $768.9M | $164.3M | ||
| Q2 25 | $775.5M | $165.0M | ||
| Q1 25 | $801.6M | $158.1M | ||
| Q4 24 | $756.4M | $158.2M | ||
| Q3 24 | $707.6M | $166.3M | ||
| Q2 24 | $753.6M | $182.4M | ||
| Q1 24 | $631.7M | $195.4M |
负债/权益比ACTGTLS
| 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 | $8.0M |
| 自由现金流经营现金流 - 资本支出 | — | $8.0M |
| 自由现金流率自由现金流/营收 | — | 17.0% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 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 | — | $29.4M |
8季度趋势，按日历期对齐
经营现金流ACTGTLS
| Q4 25 | $75.2M | $8.0M | ||
| Q3 25 | $9.5M | $9.1M | ||
| Q2 25 | $50.1M | $7.0M | ||
| Q1 25 | $2.4M | $6.1M | ||
| Q4 24 | $50.1M | $-10.5M | ||
| Q3 24 | $-593.0K | $-7.1M | ||
| Q2 24 | $16.1M | $-8.0M | ||
| Q1 24 | $54.8M | $-350.0K |
自由现金流ACTGTLS
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | — | $6.8M | ||
| Q1 25 | $335.0K | $6.0M | ||
| Q4 24 | $-98.5M | $-12.4M | ||
| Q3 24 | $-2.8M | $-7.1M | ||
| Q2 24 | $-126.7M | $-8.2M | ||
| Q1 24 | $54.6M | $-447.0K |
自由现金流率ACTGTLS
| Q4 25 | — | 17.0% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | 0.3% | 19.5% | ||
| Q4 24 | -201.8% | -47.0% | ||
| Q3 24 | -12.1% | -30.0% | ||
| Q2 24 | -490.5% | -28.9% | ||
| Q1 24 | 224.4% | -1.5% |
资本支出强度ACTGTLS
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | 1.7% | 0.4% | ||
| Q4 24 | 304.4% | 7.1% | ||
| Q3 24 | 9.6% | 0.2% | ||
| Q2 24 | 553.0% | 0.8% | ||
| Q1 24 | 1.1% | 0.3% |
现金转化率ACTGTLS
| 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% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
