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奥多比（ADBE）与安费诺（APH）财务数据对比。点击上方公司名可切换其他公司
安费诺的季度营收约是奥多比的1.0倍（$6.4B vs $6.4B）。奥多比净利率更高（29.5% vs 18.6%，领先11.0%）。安费诺同比增速更快（49.1% vs 12.0%）。奥多比自由现金流更多（$2.9B vs $1.5B）。过去两年安费诺的营收复合增速更高（40.6% vs 9.8%）
奥多比（Adobe Inc.）前身为奥多比系统公司，是总部位于美国加利福尼亚州圣何塞的跨国计算机软件企业。旗下产品覆盖网页设计、图像处理、矢量创作、音视频编辑、移动应用开发、印刷排版、动画制作等多个领域，是全球领先的数字创意软件服务商。
安费诺是一家总部位于美国的电子零部件制造企业，核心产品涵盖电子连接器、光纤连接器、同轴电缆等各类线缆及互连系统，是全球互连解决方案领域的主流供应商，品牌名称源自其前身American Phenolic Corp的名称缩写组合。
ADBE vs APH — 直观对比
营收规模更大
APH
是对方的1.0倍
$6.4B
营收增速更快
APH
高出37.2%
12.0%
净利率更高
ADBE
高出11.0%
18.6%
自由现金流更多
ADBE
多$1.5B
$1.5B
两年增速更快
APH
近两年复合增速
9.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $6.4B |
| 净利润 | $1.9B | $1.2B |
| 毛利率 | 89.6% | 38.2% |
| 营业利润率 | 37.8% | 26.8% |
| 净利率 | 29.5% | 18.6% |
| 营收同比 | 12.0% | 49.1% |
| 净利润同比 | 4.3% | 60.2% |
| 每股收益（稀释后） | $4.60 | $0.93 |
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ADBEAPH
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $6.4B | ||
| Q3 25 | $6.0B | $6.2B | ||
| Q2 25 | $5.9B | $5.7B | ||
| Q1 25 | $5.7B | $4.8B | ||
| Q4 24 | $5.6B | $4.3B | ||
| Q3 24 | $5.4B | $4.0B | ||
| Q2 24 | $5.3B | $3.6B |
净利润ADBEAPH
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $1.7B | $1.1B | ||
| Q1 25 | $1.8B | $737.8M | ||
| Q4 24 | $1.7B | $746.1M | ||
| Q3 24 | $1.7B | $604.4M | ||
| Q2 24 | $1.6B | $524.8M |
毛利率ADBEAPH
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 38.2% | ||
| Q3 25 | 89.3% | 38.1% | ||
| Q2 25 | 89.1% | 36.3% | ||
| Q1 25 | 89.1% | 34.2% | ||
| Q4 24 | 89.0% | 34.3% | ||
| Q3 24 | 89.8% | 33.6% | ||
| Q2 24 | 88.7% | 33.6% |
营业利润率ADBEAPH
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 26.8% | ||
| Q3 25 | 36.3% | 27.5% | ||
| Q2 25 | 35.9% | 25.1% | ||
| Q1 25 | 37.9% | 21.3% | ||
| Q4 24 | 34.9% | 22.1% | ||
| Q3 24 | 36.8% | 20.3% | ||
| Q2 24 | 35.5% | 19.4% |
净利率ADBEAPH
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | 18.6% | ||
| Q3 25 | 29.6% | 20.1% | ||
| Q2 25 | 28.8% | 19.3% | ||
| Q1 25 | 31.7% | 15.3% | ||
| Q4 24 | 30.0% | 17.3% | ||
| Q3 24 | 31.1% | 15.0% | ||
| Q2 24 | 29.6% | 14.5% |
每股收益（稀释后）ADBEAPH
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $0.93 | ||
| Q3 25 | $4.18 | $0.97 | ||
| Q2 25 | $3.94 | $0.86 | ||
| Q1 25 | $4.14 | $0.58 | ||
| Q4 24 | $3.75 | $0.16 | ||
| Q3 24 | $3.76 | $0.48 | ||
| Q2 24 | $3.49 | $0.41 |
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 | $6.9B | $11.4B |
| 总债务越低越好 | $5.4B | $14.6B |
| 股东权益账面价值 | $11.4B | $13.4B |
| 总资产 | $29.7B | $36.2B |
| 负债/权益比越低杠杆越低 | 0.47× | 1.09× |
8季度趋势，按日历期对齐
现金及短期投资ADBEAPH
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $11.4B | ||
| Q3 25 | $5.9B | $3.9B | ||
| Q2 25 | $5.7B | $3.2B | ||
| Q1 25 | $7.4B | $1.7B | ||
| Q4 24 | $7.9B | $3.3B | ||
| Q3 24 | $7.5B | $1.6B | ||
| Q2 24 | $8.1B | $1.3B |
总债务ADBEAPH
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | $14.6B | ||
| Q3 25 | $6.2B | $7.1B | ||
| Q2 25 | $6.2B | $7.1B | ||
| Q1 25 | $6.2B | $6.8B | ||
| Q4 24 | $4.1B | $6.5B | ||
| Q3 24 | $4.1B | $5.1B | ||
| Q2 24 | $4.1B | $5.0B |
股东权益ADBEAPH
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $13.4B | ||
| Q3 25 | $11.8B | $12.5B | ||
| Q2 25 | $11.4B | $11.5B | ||
| Q1 25 | $13.1B | $10.3B | ||
| Q4 24 | $14.1B | $9.8B | ||
| Q3 24 | $14.5B | $9.5B | ||
| Q2 24 | $14.8B | $9.0B |
总资产ADBEAPH
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $36.2B | ||
| Q3 25 | $28.8B | $27.1B | ||
| Q2 25 | $28.1B | $25.7B | ||
| Q1 25 | $30.0B | $22.9B | ||
| Q4 24 | $30.2B | $21.4B | ||
| Q3 24 | $29.8B | $19.6B | ||
| Q2 24 | $30.0B | $18.6B |
负债/权益比ADBEAPH
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | 1.09× | ||
| Q3 25 | 0.53× | 0.57× | ||
| Q2 25 | 0.54× | 0.62× | ||
| Q1 25 | 0.47× | 0.66× | ||
| Q4 24 | 0.29× | 0.66× | ||
| Q3 24 | 0.28× | 0.54× | ||
| Q2 24 | 0.28× | 0.56× |
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 | $3.0B | $1.7B |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $1.5B |
| 自由现金流率自由现金流/营收 | 45.7% | 22.8% |
| 资本支出强度资本支出/营收 | 0.6% | 3.9% |
| 现金转化率经营现金流/净利润 | 1.57× | 1.44× |
| 过去12个月自由现金流最近4个季度 | $10.3B | $4.4B |
8季度趋势，按日历期对齐
经营现金流ADBEAPH
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $1.7B | ||
| Q3 25 | $2.2B | $1.5B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $2.5B | $764.9M | ||
| Q4 24 | — | $847.1M | ||
| Q3 24 | $2.0B | $704.0M | ||
| Q2 24 | $1.9B | $664.1M |
自由现金流ADBEAPH
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $1.5B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.1B | $1.1B | ||
| Q1 25 | $2.5B | $576.3M | ||
| Q4 24 | — | $647.3M | ||
| Q3 24 | $2.0B | $474.0M | ||
| Q2 24 | $1.9B | $522.8M |
自由现金流率ADBEAPH
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 22.8% | ||
| Q3 25 | 35.5% | 19.6% | ||
| Q2 25 | 36.5% | 19.8% | ||
| Q1 25 | 43.0% | 12.0% | ||
| Q4 24 | — | 15.0% | ||
| Q3 24 | 36.3% | 11.7% | ||
| Q2 24 | 35.8% | 14.5% |
资本支出强度ADBEAPH
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 3.9% | ||
| Q3 25 | 1.2% | 4.2% | ||
| Q2 25 | 0.8% | 5.3% | ||
| Q1 25 | 0.5% | 3.9% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | 1.1% | 5.7% | ||
| Q2 24 | 0.8% | 3.9% |
现金转化率ADBEAPH
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | 1.44× | ||
| Q3 25 | 1.24× | 1.18× | ||
| Q2 25 | 1.30× | 1.30× | ||
| Q1 25 | 1.37× | 1.04× | ||
| Q4 24 | — | 1.14× | ||
| Q3 24 | 1.20× | 1.16× | ||
| Q2 24 | 1.23× | 1.27× |
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
ADBE
| Subscription Revenue | $6.2B | 97% |
| Service Other | $110.0M | 2% |
| Products | $90.0M | 1% |
APH
| Communications Solutions Segment | $3.5B | 54% |
| Harsh Environment Solutions Segment | $1.7B | 26% |
| Sales Channel Through Intermediary | $1.4B | 21% |
