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ACV Auctions Inc.（ACVA）与Axon Enterprise（AXON）财务数据对比。点击上方公司名可切换其他公司
Axon Enterprise的季度营收约是ACV Auctions Inc.的4.3倍（$796.7M vs $183.6M）。Axon Enterprise同比增速更快（38.9% vs 15.1%）。Axon Enterprise自由现金流更多（$155.4M vs $-14.7M）。过去两年Axon Enterprise的营收复合增速更高（31.5% vs 12.3%）
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。
Axon Enterprise是总部位于美国亚利桑那州斯科茨代尔的企业，面向军队、执法部门及民用市场开发各类武器装备与相关技术产品，业务覆盖公共安全、国防及民用消费等多个领域，为不同用户群体提供适配的产品解决方案。
ACVA vs AXON — 直观对比
营收规模更大
AXON
是对方的4.3倍
$183.6M
营收增速更快
AXON
高出23.8%
15.1%
自由现金流更多
AXON
多$170.1M
$-14.7M
两年增速更快
AXON
近两年复合增速
12.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $183.6M | $796.7M |
| 净利润 | — | $2.7M |
| 毛利率 | — | 57.9% |
| 营业利润率 | -9.7% | -6.3% |
| 净利率 | — | 0.3% |
| 营收同比 | 15.1% | 38.9% |
| 净利润同比 | — | -98.0% |
| 每股收益（稀释后） | $-0.12 | $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ACVAAXON
| Q4 25 | $183.6M | $796.7M | ||
| Q3 25 | $199.6M | $710.6M | ||
| Q2 25 | $193.7M | $668.5M | ||
| Q1 25 | $182.7M | $603.6M | ||
| Q4 24 | $159.5M | $573.4M | ||
| Q3 24 | $171.3M | $544.3M | ||
| Q2 24 | $160.6M | $504.1M | ||
| Q1 24 | $145.7M | $460.7M |
净利润ACVAAXON
| Q4 25 | — | $2.7M | ||
| Q3 25 | $-24.5M | $-2.2M | ||
| Q2 25 | $-7.3M | $36.1M | ||
| Q1 25 | $-14.8M | $88.0M | ||
| Q4 24 | — | $136.0M | ||
| Q3 24 | $-16.0M | $67.0M | ||
| Q2 24 | $-17.1M | $40.8M | ||
| Q1 24 | $-20.5M | $133.2M |
毛利率ACVAAXON
| Q4 25 | — | 57.9% | ||
| Q3 25 | — | 60.1% | ||
| Q2 25 | — | 60.4% | ||
| Q1 25 | — | 60.6% | ||
| Q4 24 | — | 60.5% | ||
| Q3 24 | — | 60.8% | ||
| Q2 24 | — | 60.3% | ||
| Q1 24 | — | 56.4% |
营业利润率ACVAAXON
| Q4 25 | -9.7% | -6.3% | ||
| Q3 25 | -11.9% | -0.3% | ||
| Q2 25 | -3.7% | -0.2% | ||
| Q1 25 | -7.9% | -1.5% | ||
| Q4 24 | -16.2% | -2.6% | ||
| Q3 24 | -10.0% | 4.4% | ||
| Q2 24 | -11.6% | 6.5% | ||
| Q1 24 | -15.5% | 3.5% |
净利率ACVAAXON
| Q4 25 | — | 0.3% | ||
| Q3 25 | -12.3% | -0.3% | ||
| Q2 25 | -3.8% | 5.4% | ||
| Q1 25 | -8.1% | 14.6% | ||
| Q4 24 | — | 23.7% | ||
| Q3 24 | -9.4% | 12.3% | ||
| Q2 24 | -10.6% | 8.1% | ||
| Q1 24 | -14.1% | 28.9% |
每股收益（稀释后）ACVAAXON
| Q4 25 | $-0.12 | $0.02 | ||
| Q3 25 | $-0.14 | $-0.03 | ||
| Q2 25 | $-0.04 | $0.44 | ||
| Q1 25 | $-0.09 | $1.08 | ||
| Q4 24 | $-0.15 | $1.68 | ||
| Q3 24 | $-0.10 | $0.86 | ||
| Q2 24 | $-0.10 | $0.53 | ||
| Q1 24 | $-0.13 | $1.73 |
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 | $1.7B |
| 总债务越低越好 | — | $1.8B |
| 股东权益账面价值 | $429.7M | $3.2B |
| 总资产 | $1.1B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资ACVAAXON
| Q4 25 | $271.5M | $1.7B | ||
| Q3 25 | $265.3M | $2.4B | ||
| Q2 25 | $258.4M | $2.1B | ||
| Q1 25 | $291.9M | $2.2B | ||
| Q4 24 | $224.1M | $788.1M | ||
| Q3 24 | $252.5M | $1.0B | ||
| Q2 24 | $215.0M | $968.9M | ||
| Q1 24 | $209.8M | $964.1M |
总债务ACVAAXON
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $680.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ACVAAXON
| Q4 25 | $429.7M | $3.2B | ||
| Q3 25 | $434.4M | $3.0B | ||
| Q2 25 | $448.8M | $2.7B | ||
| Q1 25 | $439.6M | $2.6B | ||
| Q4 24 | $440.0M | $2.3B | ||
| Q3 24 | $456.2M | $2.1B | ||
| Q2 24 | $457.6M | $1.9B | ||
| Q1 24 | $458.3M | $1.8B |
总资产ACVAAXON
| Q4 25 | $1.1B | $7.0B | ||
| Q3 25 | $1.2B | $6.7B | ||
| Q2 25 | $1.1B | $6.2B | ||
| Q1 25 | $1.2B | $6.1B | ||
| Q4 24 | $984.1M | $4.5B | ||
| Q3 24 | $1.0B | $4.0B | ||
| Q2 24 | $1.0B | $3.7B | ||
| Q1 24 | $1.0B | $3.6B |
负债/权益比ACVAAXON
| Q4 25 | — | 0.56× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.79× | ||
| Q4 24 | — | 0.29× | ||
| 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 | $-12.4M | $217.2M |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | $155.4M |
| 自由现金流率自由现金流/营收 | -8.0% | 19.5% |
| 资本支出强度资本支出/营收 | 1.2% | 7.8% |
| 现金转化率经营现金流/净利润 | — | 79.14× |
| 过去12个月自由现金流最近4个季度 | $69.1M | $75.1M |
8季度趋势，按日历期对齐
经营现金流ACVAAXON
| Q4 25 | $-12.4M | $217.2M | ||
| Q3 25 | $10.3M | $60.0M | ||
| Q2 25 | $13.7M | $-91.7M | ||
| Q1 25 | $66.6M | $25.8M | ||
| Q4 24 | $-3.2M | $250.2M | ||
| Q3 24 | $21.1M | $91.3M | ||
| Q2 24 | $4.5M | $82.8M | ||
| Q1 24 | $43.0M | $-15.9M |
自由现金流ACVAAXON
| Q4 25 | $-14.7M | $155.4M | ||
| Q3 25 | $7.7M | $33.4M | ||
| Q2 25 | $10.9M | $-114.7M | ||
| Q1 25 | $65.3M | $932.0K | ||
| Q4 24 | $-3.9M | $225.4M | ||
| Q3 24 | $20.2M | $64.8M | ||
| Q2 24 | $2.7M | $71.4M | ||
| Q1 24 | $41.9M | $-32.1M |
自由现金流率ACVAAXON
| Q4 25 | -8.0% | 19.5% | ||
| Q3 25 | 3.8% | 4.7% | ||
| Q2 25 | 5.6% | -17.2% | ||
| Q1 25 | 35.7% | 0.2% | ||
| Q4 24 | -2.5% | 39.3% | ||
| Q3 24 | 11.8% | 11.9% | ||
| Q2 24 | 1.7% | 14.2% | ||
| Q1 24 | 28.8% | -7.0% |
资本支出强度ACVAAXON
| Q4 25 | 1.2% | 7.8% | ||
| Q3 25 | 1.3% | 3.7% | ||
| Q2 25 | 1.5% | 3.4% | ||
| Q1 25 | 0.7% | 4.1% | ||
| Q4 24 | 0.4% | 4.3% | ||
| Q3 24 | 0.6% | 4.9% | ||
| Q2 24 | 1.1% | 2.2% | ||
| Q1 24 | 0.7% | 3.5% |
现金转化率ACVAAXON
| Q4 25 | — | 79.14× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -2.54× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 2.03× | ||
| Q1 24 | — | -0.12× |
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% |
AXON
| Software And Sensors Segment | $342.5M | 43% |
| TASER Devices Professional | $264.2M | 33% |
| Personal Sensors | $109.1M | 14% |
| Platform Solutions | $80.9M | 10% |
