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ARRAY DIGITAL INFRASTRUCTURE, INC.（AD）与谷歌（GOOGL）财务数据对比。点击上方公司名可切换其他公司
谷歌净利率更高（30.3% vs -2.3%，领先32.5%）。谷歌同比增速更快（18.0% vs -279.1%）。谷歌自由现金流更多（$24.6B vs $-210.7M）。过去两年谷歌的营收复合增速更高（NaN% vs NaN%）
Array Digital Infrastructure, Inc.是一家数字基础设施提供商，拥有、运营和开发战略布局的数据中心设施，主要服务云服务商、企业客户及电信企业，核心业务覆盖北美市场。
Alphabet Inc.是谷歌的母公司，业务覆盖美洲、欧洲、亚太、中东、非洲等全球主要区域，下设谷歌服务、谷歌云、创新投项三大业务板块。谷歌服务板块涵盖广告、安卓系统、Chrome、硬件、搜索、YouTube、邮箱、云盘、地图等多款产品，同时提供应用及数字内容售卖相关服务。
AD vs GOOGL — 直观对比
营收规模更大
GOOGL
是对方的-67.3倍
$-1.7B
营收增速更快
GOOGL
高出297.1%
-279.1%
净利率更高
GOOGL
高出32.5%
-2.3%
自由现金流更多
GOOGL
多$24.8B
$-210.7M
两年增速更快
GOOGL
近两年复合增速
NaN%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $-1.7B | $113.8B |
| 净利润 | $38.2M | $34.5B |
| 毛利率 | — | 59.8% |
| 营业利润率 | — | 31.6% |
| 净利率 | -2.3% | 30.3% |
| 营收同比 | -279.1% | 18.0% |
| 净利润同比 | 664.4% | 29.8% |
| 每股收益（稀释后） | $0.43 | $2.82 |
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ADGOOGL
| Q4 25 | $-1.7B | $113.8B | ||
| Q3 25 | $47.1M | $102.3B | ||
| Q2 25 | — | $96.4B | ||
| Q1 25 | — | $90.2B | ||
| Q4 24 | $944.0M | $96.5B | ||
| Q3 24 | $896.0M | $88.3B | ||
| Q2 24 | $902.0M | $84.7B | ||
| Q1 24 | $925.0M | $80.5B |
净利润ADGOOGL
| Q4 25 | $38.2M | $34.5B | ||
| Q3 25 | $-38.5M | $35.0B | ||
| Q2 25 | — | $28.2B | ||
| Q1 25 | — | $34.5B | ||
| Q4 24 | $5.0M | $26.5B | ||
| Q3 24 | $-79.0M | $26.3B | ||
| Q2 24 | $17.0M | $23.6B | ||
| Q1 24 | $18.0M | $23.7B |
毛利率ADGOOGL
| Q4 25 | — | 59.8% | ||
| Q3 25 | 55.5% | 59.6% | ||
| Q2 25 | — | 59.5% | ||
| Q1 25 | — | 59.7% | ||
| Q4 24 | — | 57.9% | ||
| Q3 24 | 98.0% | 58.7% | ||
| Q2 24 | — | 58.1% | ||
| Q1 24 | — | 58.1% |
营业利润率ADGOOGL
| Q4 25 | — | 31.6% | ||
| Q3 25 | -113.1% | 30.5% | ||
| Q2 25 | — | 32.4% | ||
| Q1 25 | — | 33.9% | ||
| Q4 24 | -1.0% | 32.1% | ||
| Q3 24 | -10.0% | 32.3% | ||
| Q2 24 | 4.0% | 32.4% | ||
| Q1 24 | 5.5% | 31.6% |
净利率ADGOOGL
| Q4 25 | -2.3% | 30.3% | ||
| Q3 25 | -81.6% | 34.2% | ||
| Q2 25 | — | 29.2% | ||
| Q1 25 | — | 38.3% | ||
| Q4 24 | 0.5% | 27.5% | ||
| Q3 24 | -8.8% | 29.8% | ||
| Q2 24 | 1.9% | 27.9% | ||
| Q1 24 | 1.9% | 29.4% |
每股收益（稀释后）ADGOOGL
| Q4 25 | $0.43 | $2.82 | ||
| Q3 25 | $-0.44 | $2.87 | ||
| Q2 25 | — | $2.31 | ||
| Q1 25 | — | $2.81 | ||
| Q4 24 | $0.06 | $2.14 | ||
| Q3 24 | $-0.92 | $2.12 | ||
| Q2 24 | $0.20 | $1.89 | ||
| Q1 24 | $0.20 | $1.89 |
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 | $113.4M | $126.8B |
| 总债务越低越好 | $670.3M | $49.1B |
| 股东权益账面价值 | $2.6B | $415.3B |
| 总资产 | $4.7B | $595.3B |
| 负债/权益比越低杠杆越低 | 0.26× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资ADGOOGL
| Q4 25 | $113.4M | $126.8B | ||
| Q3 25 | $325.6M | $98.5B | ||
| Q2 25 | — | $95.1B | ||
| Q1 25 | — | $95.3B | ||
| Q4 24 | $144.0M | $95.7B | ||
| Q3 24 | $272.0M | $93.2B | ||
| Q2 24 | $195.0M | $100.7B | ||
| Q1 24 | $185.0M | $108.1B |
总债务ADGOOGL
| Q4 25 | $670.3M | $49.1B | ||
| Q3 25 | $671.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $10.9B | ||
| Q4 24 | $2.8B | $10.9B | ||
| Q3 24 | $2.9B | $12.3B | ||
| Q2 24 | $2.9B | $13.2B | ||
| Q1 24 | $3.0B | $13.2B |
股东权益ADGOOGL
| Q4 25 | $2.6B | $415.3B | ||
| Q3 25 | $2.5B | $386.9B | ||
| Q2 25 | — | $362.9B | ||
| Q1 25 | — | $345.3B | ||
| Q4 24 | $4.6B | $325.1B | ||
| Q3 24 | $4.6B | $314.1B | ||
| Q2 24 | $4.7B | $300.8B | ||
| Q1 24 | $4.7B | $292.8B |
总资产ADGOOGL
| Q4 25 | $4.7B | $595.3B | ||
| Q3 25 | $4.9B | $536.5B | ||
| Q2 25 | — | $502.1B | ||
| Q1 25 | — | $475.4B | ||
| Q4 24 | $10.4B | $450.3B | ||
| Q3 24 | $10.5B | $430.3B | ||
| Q2 24 | $10.6B | $414.8B | ||
| Q1 24 | $10.7B | $407.4B |
负债/权益比ADGOOGL
| Q4 25 | 0.26× | 0.12× | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | 0.62× | 0.03× | ||
| Q3 24 | 0.63× | 0.04× | ||
| Q2 24 | 0.62× | 0.04× | ||
| Q1 24 | 0.65× | 0.05× |
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 | $-202.1M | $52.4B |
| 自由现金流经营现金流 - 资本支出 | $-210.7M | $24.6B |
| 自由现金流率自由现金流/营收 | 12.5% | 21.6% |
| 资本支出强度资本支出/营收 | -0.5% | 24.5% |
| 现金转化率经营现金流/净利润 | -5.29× | 1.52× |
| 过去12个月自由现金流最近4个季度 | $-321.2M | $73.3B |
8季度趋势，按日历期对齐
经营现金流ADGOOGL
| Q4 25 | $-202.1M | $52.4B | ||
| Q3 25 | $-82.1M | $48.4B | ||
| Q2 25 | — | $27.7B | ||
| Q1 25 | — | $36.1B | ||
| Q4 24 | $122.0M | $39.1B | ||
| Q3 24 | $245.0M | $30.7B | ||
| Q2 24 | $313.0M | $26.6B | ||
| Q1 24 | $203.0M | $28.8B |
自由现金流ADGOOGL
| Q4 25 | $-210.7M | $24.6B | ||
| Q3 25 | $-210.5M | $24.5B | ||
| Q2 25 | — | $5.3B | ||
| Q1 25 | — | $19.0B | ||
| Q4 24 | $-16.0M | $24.8B | ||
| Q3 24 | $116.0M | $17.6B | ||
| Q2 24 | $176.0M | $13.5B | ||
| Q1 24 | $70.0M | $16.8B |
自由现金流率ADGOOGL
| Q4 25 | 12.5% | 21.6% | ||
| Q3 25 | -446.8% | 23.9% | ||
| Q2 25 | — | 5.5% | ||
| Q1 25 | — | 21.0% | ||
| Q4 24 | -1.7% | 25.7% | ||
| Q3 24 | 12.9% | 20.0% | ||
| Q2 24 | 19.5% | 15.9% | ||
| Q1 24 | 7.6% | 20.9% |
资本支出强度ADGOOGL
| Q4 25 | -0.5% | 24.5% | ||
| Q3 25 | 272.5% | 23.4% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | 19.1% | ||
| Q4 24 | 14.6% | 14.8% | ||
| Q3 24 | 14.4% | 14.8% | ||
| Q2 24 | 15.2% | 15.6% | ||
| Q1 24 | 14.4% | 14.9% |
现金转化率ADGOOGL
| Q4 25 | -5.29× | 1.52× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | 24.40× | 1.47× | ||
| Q3 24 | — | 1.17× | ||
| Q2 24 | 18.41× | 1.13× | ||
| Q1 24 | 11.28× | 1.22× |
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
AD
暂无分部数据
GOOGL
| Google Search | $63.1B | 55% |
| Google Cloud | $17.7B | 16% |
| Subscriptions & Devices | $13.6B | 12% |
| YouTube | $11.4B | 10% |
| Google Network | $7.8B | 7% |
