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ACV Auctions Inc.（ACVA）与ADT Inc.（ADT）财务数据对比。点击上方公司名可切换其他公司
ADT Inc.的季度营收约是ACV Auctions Inc.的6.9倍（$1.3B vs $183.6M）。ACV Auctions Inc.同比增速更快（15.1% vs 2.9%）。ADT Inc.自由现金流更多（$323.5M vs $-14.7M）。过去两年ACV Auctions Inc.的营收复合增速更高（12.3% vs 2.7%）
ACV Auctions Inc.是北美领先的数字化二手车批发拍卖平台，主要服务美加两地汽车经销商，提供车辆透明检测、安全支付、物流配送等全链条服务，助力注册批发买卖双方无需线下到场即可高效完成二手车交易。
ADT Inc.是美国头部安防企业，总部位于佛罗里达州博卡拉顿，业务覆盖美国与加拿大，为住宅、小型商户提供电子安防、消防防护及相关报警监控服务。公司2016年被阿波罗全球管理以69亿美元杠杆收购，2018年1月于纽约证券交易所上市。
ACVA vs ADT — 直观对比
营收规模更大
ADT
是对方的6.9倍
$183.6M
营收增速更快
ACVA
高出12.3%
2.9%
自由现金流更多
ADT
多$338.2M
$-14.7M
两年增速更快
ACVA
近两年复合增速
2.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $183.6M | $1.3B |
| 净利润 | — | $145.4M |
| 毛利率 | — | — |
| 营业利润率 | -9.7% | 26.1% |
| 净利率 | — | 11.4% |
| 营收同比 | 15.1% | 2.9% |
| 净利润同比 | — | -23.5% |
| 每股收益（稀释后） | $-0.12 | — |
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ACVAADT
| Q4 25 | $183.6M | $1.3B | ||
| Q3 25 | $199.6M | $1.3B | ||
| Q2 25 | $193.7M | $1.3B | ||
| Q1 25 | $182.7M | $1.3B | ||
| Q4 24 | $159.5M | $1.2B | ||
| Q3 24 | $171.3M | $1.2B | ||
| Q2 24 | $160.6M | $1.2B | ||
| Q1 24 | $145.7M | $1.2B |
净利润ACVAADT
| Q4 25 | — | $145.4M | ||
| Q3 25 | $-24.5M | $145.1M | ||
| Q2 25 | $-7.3M | $165.2M | ||
| Q1 25 | $-14.8M | $140.2M | ||
| Q4 24 | — | $190.0M | ||
| Q3 24 | $-16.0M | $127.2M | ||
| Q2 24 | $-17.1M | $92.4M | ||
| Q1 24 | $-20.5M | $91.6M |
营业利润率ACVAADT
| Q4 25 | -9.7% | 26.1% | ||
| Q3 25 | -11.9% | 24.3% | ||
| Q2 25 | -3.7% | 26.6% | ||
| Q1 25 | -7.9% | 25.2% | ||
| Q4 24 | -16.2% | 32.4% | ||
| Q3 24 | -10.0% | 26.2% | ||
| Q2 24 | -11.6% | 23.6% | ||
| Q1 24 | -15.5% | 16.2% |
净利率ACVAADT
| Q4 25 | — | 11.4% | ||
| Q3 25 | -12.3% | 11.2% | ||
| Q2 25 | -3.8% | 12.8% | ||
| Q1 25 | -8.1% | 11.1% | ||
| Q4 24 | — | 15.3% | ||
| Q3 24 | -9.4% | 10.2% | ||
| Q2 24 | -10.6% | 7.7% | ||
| Q1 24 | -14.1% | 7.6% |
每股收益（稀释后）ACVAADT
| Q4 25 | $-0.12 | — | ||
| Q3 25 | $-0.14 | — | ||
| Q2 25 | $-0.04 | — | ||
| Q1 25 | $-0.09 | — | ||
| Q4 24 | $-0.15 | — | ||
| Q3 24 | $-0.10 | — | ||
| Q2 24 | $-0.10 | — | ||
| Q1 24 | $-0.13 | — |
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 | $271.5M | $80.8M |
| 总债务越低越好 | — | $7.4B |
| 股东权益账面价值 | $429.7M | $3.8B |
| 总资产 | $1.1B | $15.8B |
| 负债/权益比越低杠杆越低 | — | 1.95× |
8季度趋势，按日历期对齐
现金及短期投资ACVAADT
| Q4 25 | $271.5M | $80.8M | ||
| Q3 25 | $265.3M | $62.8M | ||
| Q2 25 | $258.4M | $45.2M | ||
| Q1 25 | $291.9M | $3.7M | ||
| Q4 24 | $224.1M | $96.2M | ||
| Q3 24 | $252.5M | $95.3M | ||
| Q2 24 | $215.0M | $37.9M | ||
| Q1 24 | $209.8M | $4.0M |
总债务ACVAADT
| Q4 25 | — | $7.4B | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $6.8B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.5B | ||
| Q3 24 | — | $7.5B | ||
| Q2 24 | — | $7.5B | ||
| Q1 24 | — | $7.6B |
股东权益ACVAADT
| Q4 25 | $429.7M | $3.8B | ||
| Q3 25 | $434.4M | $3.7B | ||
| Q2 25 | $448.8M | $3.7B | ||
| Q1 25 | $439.6M | $3.6B | ||
| Q4 24 | $440.0M | $3.8B | ||
| Q3 24 | $456.2M | $3.9B | ||
| Q2 24 | $457.6M | $3.8B | ||
| Q1 24 | $458.3M | $3.7B |
总资产ACVAADT
| Q4 25 | $1.1B | $15.8B | ||
| Q3 25 | $1.2B | $16.0B | ||
| Q2 25 | $1.1B | $16.0B | ||
| Q1 25 | $1.2B | $15.8B | ||
| Q4 24 | $984.1M | $16.1B | ||
| Q3 24 | $1.0B | $16.1B | ||
| Q2 24 | $1.0B | $16.0B | ||
| Q1 24 | $1.0B | $15.9B |
负债/权益比ACVAADT
| Q4 25 | — | 1.95× | ||
| Q3 25 | — | 1.99× | ||
| Q2 25 | — | 1.84× | ||
| Q1 25 | — | 2.10× | ||
| Q4 24 | — | 1.98× | ||
| Q3 24 | — | 1.93× | ||
| Q2 24 | — | 1.98× | ||
| Q1 24 | — | 2.03× |
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 | $-12.4M | $373.6M |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | $323.5M |
| 自由现金流率自由现金流/营收 | -8.0% | 25.4% |
| 资本支出强度资本支出/营收 | 1.2% | 3.9% |
| 现金转化率经营现金流/净利润 | — | 2.57× |
| 过去12个月自由现金流最近4个季度 | $69.1M | $1.7B |
8季度趋势，按日历期对齐
经营现金流ACVAADT
| Q4 25 | $-12.4M | $373.6M | ||
| Q3 25 | $10.3M | $480.1M | ||
| Q2 25 | $13.7M | $563.9M | ||
| Q1 25 | $66.6M | $466.6M | ||
| Q4 24 | $-3.2M | $459.7M | ||
| Q3 24 | $21.1M | $498.2M | ||
| Q2 24 | $4.5M | $563.2M | ||
| Q1 24 | $43.0M | $363.8M |
自由现金流ACVAADT
| Q4 25 | $-14.7M | $323.5M | ||
| Q3 25 | $7.7M | $437.4M | ||
| Q2 25 | $10.9M | $526.3M | ||
| Q1 25 | $65.3M | $421.2M | ||
| Q4 24 | $-3.9M | $426.0M | ||
| Q3 24 | $20.2M | $455.5M | ||
| Q2 24 | $2.7M | $516.5M | ||
| Q1 24 | $41.9M | $323.1M |
自由现金流率ACVAADT
| Q4 25 | -8.0% | 25.4% | ||
| Q3 25 | 3.8% | 33.7% | ||
| Q2 25 | 5.6% | 40.9% | ||
| Q1 25 | 35.7% | 33.2% | ||
| Q4 24 | -2.5% | 34.3% | ||
| Q3 24 | 11.8% | 36.6% | ||
| Q2 24 | 1.7% | 42.9% | ||
| Q1 24 | 28.8% | 26.7% |
资本支出强度ACVAADT
| Q4 25 | 1.2% | 3.9% | ||
| Q3 25 | 1.3% | 3.3% | ||
| Q2 25 | 1.5% | 2.9% | ||
| Q1 25 | 0.7% | 3.6% | ||
| Q4 24 | 0.4% | 2.7% | ||
| Q3 24 | 0.6% | 3.4% | ||
| Q2 24 | 1.1% | 3.9% | ||
| Q1 24 | 0.7% | 3.4% |
现金转化率ACVAADT
| Q4 25 | — | 2.57× | ||
| Q3 25 | — | 3.31× | ||
| Q2 25 | — | 3.41× | ||
| Q1 25 | — | 3.33× | ||
| Q4 24 | — | 2.42× | ||
| Q3 24 | — | 3.92× | ||
| Q2 24 | — | 6.10× | ||
| Q1 24 | — | 3.97× |
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
ACVA
| Auction Marketplace Revenue | $77.6M | 42% |
| Other Marketplace Revenue | $72.4M | 39% |
| Customer Assurance | $24.1M | 13% |
| Data Services Revenue | $9.4M | 5% |
ADT
| Recurring Monthly Revenue | $1.0B | 82% |
| Installation Revenue | $103.0M | 8% |
| Amortization Of Deferred Subscriber Acquisition Revenue | $89.9M | 7% |
| Other Related Services | $36.0M | 3% |
