vs
奥多比（ADBE）与HF Sinclair Corp（DINO）财务数据对比。点击上方公司名可切换其他公司
HF Sinclair Corp的季度营收约是奥多比的1.0倍（$6.5B vs $6.4B），奥多比净利率更高（29.5% vs -0.4%，领先30.0%），奥多比同比增速更快（12.0% vs -0.6%），奥多比自由现金流更多（$2.9B vs $-123.0M），过去两年奥多比的营收复合增速更高（9.8% vs -4.1%）
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。
HF Sinclair是总部位于美国得克萨斯州达拉斯的能源企业，主要从事汽油、柴油、航空燃油、可再生柴油、特种润滑油、特种化学品、特种改性沥青等多类能源化工产品的生产与销售。
ADBE vs DINO — 直观对比
营收规模更大
DINO
是对方的1.0倍
$6.4B
营收增速更快
ADBE
高出12.5%
-0.6%
净利率更高
ADBE
高出30.0%
-0.4%
自由现金流更多
ADBE
多$3.0B
$-123.0M
两年增速更快
ADBE
近两年复合增速
-4.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $6.5B |
| 净利润 | $1.9B | $-28.0M |
| 毛利率 | 89.6% | — |
| 营业利润率 | 37.8% | 0.1% |
| 净利率 | 29.5% | -0.4% |
| 营收同比 | 12.0% | -0.6% |
| 净利润同比 | 4.3% | 86.9% |
| 每股收益（稀释后） | $4.60 | $-0.15 |
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ADBEDINO
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $6.5B | ||
| Q3 25 | $6.0B | $7.3B | ||
| Q2 25 | $5.9B | $6.8B | ||
| Q1 25 | $5.7B | $6.4B | ||
| Q4 24 | $5.6B | $6.5B | ||
| Q3 24 | $5.4B | $7.2B | ||
| Q2 24 | $5.3B | $7.8B |
净利润ADBEDINO
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $-28.0M | ||
| Q3 25 | $1.8B | $403.0M | ||
| Q2 25 | $1.7B | $208.0M | ||
| Q1 25 | $1.8B | $-4.0M | ||
| Q4 24 | $1.7B | $-213.5M | ||
| Q3 24 | $1.7B | $-75.9M | ||
| Q2 24 | $1.6B | $151.8M |
毛利率ADBEDINO
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | — | ||
| Q3 25 | 89.3% | — | ||
| Q2 25 | 89.1% | — | ||
| Q1 25 | 89.1% | — | ||
| Q4 24 | 89.0% | — | ||
| Q3 24 | 89.8% | — | ||
| Q2 24 | 88.7% | — |
营业利润率ADBEDINO
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 0.1% | ||
| Q3 25 | 36.3% | 7.8% | ||
| Q2 25 | 35.9% | 4.1% | ||
| Q1 25 | 37.9% | 1.3% | ||
| Q4 24 | 34.9% | -3.5% | ||
| Q3 24 | 36.8% | -1.7% | ||
| Q2 24 | 35.5% | 2.5% |
净利率ADBEDINO
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | -0.4% | ||
| Q3 25 | 29.6% | 5.6% | ||
| Q2 25 | 28.8% | 3.1% | ||
| Q1 25 | 31.7% | -0.1% | ||
| Q4 24 | 30.0% | -3.3% | ||
| Q3 24 | 31.1% | -1.1% | ||
| Q2 24 | 29.6% | 1.9% |
每股收益（稀释后）ADBEDINO
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $-0.15 | ||
| Q3 25 | $4.18 | $2.15 | ||
| Q2 25 | $3.94 | $1.10 | ||
| Q1 25 | $4.14 | $-0.02 | ||
| Q4 24 | $3.75 | $-1.05 | ||
| Q3 24 | $3.76 | $-0.40 | ||
| Q2 24 | $3.49 | $0.79 |
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 | $978.0M |
| 总债务越低越好 | $5.4B | $2.8B |
| 股东权益账面价值 | $11.4B | $9.2B |
| 总资产 | $29.7B | $16.5B |
| 负债/权益比越低杠杆越低 | 0.47× | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资ADBEDINO
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $978.0M | ||
| Q3 25 | $5.9B | $1.5B | ||
| Q2 25 | $5.7B | $874.0M | ||
| Q1 25 | $7.4B | $547.0M | ||
| Q4 24 | $7.9B | $800.0M | ||
| Q3 24 | $7.5B | $1.2B | ||
| Q2 24 | $8.1B | $866.3M |
总债务ADBEDINO
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | $2.8B | ||
| Q3 25 | $6.2B | $2.8B | ||
| Q2 25 | $6.2B | $2.7B | ||
| Q1 25 | $6.2B | $2.7B | ||
| Q4 24 | $4.1B | $2.6B | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
股东权益ADBEDINO
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $9.2B | ||
| Q3 25 | $11.8B | $9.4B | ||
| Q2 25 | $11.4B | $9.3B | ||
| Q1 25 | $13.1B | $9.2B | ||
| Q4 24 | $14.1B | $9.3B | ||
| Q3 24 | $14.5B | $9.6B | ||
| Q2 24 | $14.8B | $9.9B |
总资产ADBEDINO
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $16.5B | ||
| Q3 25 | $28.8B | $17.3B | ||
| Q2 25 | $28.1B | $16.8B | ||
| Q1 25 | $30.0B | $16.5B | ||
| Q4 24 | $30.2B | $16.6B | ||
| Q3 24 | $29.8B | $16.9B | ||
| Q2 24 | $30.0B | $17.4B |
负债/权益比ADBEDINO
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | 0.30× | ||
| Q3 25 | 0.53× | 0.29× | ||
| Q2 25 | 0.54× | 0.29× | ||
| Q1 25 | 0.47× | 0.29× | ||
| Q4 24 | 0.29× | 0.29× | ||
| Q3 24 | 0.28× | — | ||
| Q2 24 | 0.28× | — |
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 | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $-123.0M |
| 自由现金流率自由现金流/营收 | 45.7% | -1.9% |
| 资本支出强度资本支出/营收 | 0.6% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.57× | — |
| 过去12个月自由现金流最近4个季度 | $10.3B | $866.0M |
8季度趋势，按日历期对齐
经营现金流ADBEDINO
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $8.0M | ||
| Q3 25 | $2.2B | $809.0M | ||
| Q2 25 | $2.2B | $587.0M | ||
| Q1 25 | $2.5B | $-89.0M | ||
| Q4 24 | — | $-140.4M | ||
| Q3 24 | $2.0B | $707.6M | ||
| Q2 24 | $1.9B | $225.9M |
自由现金流ADBEDINO
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $-123.0M | ||
| Q3 25 | $2.1B | $688.0M | ||
| Q2 25 | $2.1B | $476.0M | ||
| Q1 25 | $2.5B | $-175.0M | ||
| Q4 24 | — | $-313.5M | ||
| Q3 24 | $2.0B | $584.0M | ||
| Q2 24 | $1.9B | $141.7M |
自由现金流率ADBEDINO
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | -1.9% | ||
| Q3 25 | 35.5% | 9.5% | ||
| Q2 25 | 36.5% | 7.0% | ||
| Q1 25 | 43.0% | -2.7% | ||
| Q4 24 | — | -4.8% | ||
| Q3 24 | 36.3% | 8.1% | ||
| Q2 24 | 35.8% | 1.8% |
资本支出强度ADBEDINO
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 2.0% | ||
| Q3 25 | 1.2% | 1.7% | ||
| Q2 25 | 0.8% | 1.6% | ||
| Q1 25 | 0.5% | 1.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | 1.1% | 1.7% | ||
| Q2 24 | 0.8% | 1.1% |
现金转化率ADBEDINO
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | — | ||
| Q3 25 | 1.24× | 2.01× | ||
| Q2 25 | 1.30× | 2.82× | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.23× | 1.49× |
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% |
DINO
| Transportation Fuels | $5.0B | 77% |
| Lubricants And Specialties Segment | $586.0M | 9% |
| Lubricants And Specialty Products | $531.0M | 8% |
| Crude Oil | $213.0M | 3% |
| Renewables Segment | $163.0M | 3% |
| Midstream Segment | $35.0M | 1% |
| Transportation And Logistic Services | $34.0M | 1% |
