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奥多比（ADBE）与Eversource Energy（ES）财务数据对比。点击上方公司名可切换其他公司
奥多比的季度营收约是Eversource Energy的1.9倍（$6.4B vs $3.4B），奥多比净利率更高（29.5% vs 12.6%，领先17.0%），Eversource Energy同比增速更快（13.4% vs 12.0%），奥多比自由现金流更多（$2.9B vs $-67.3M），过去两年奥多比的营收复合增速更高（9.8% vs 0.6%）
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。
Eversource Energy是位列财富500强的上市能源企业，总部位于美国马萨诸塞州斯普林菲尔德，在康涅狄格州哈特福德、马萨诸塞州波士顿均设有办公据点，旗下多家受监管子公司为康涅狄格、马萨诸塞、新罕布什尔三州约400万用户提供零售电力、天然气及供水服务。
ADBE vs ES — 直观对比
营收规模更大
ADBE
是对方的1.9倍
$3.4B
营收增速更快
ES
高出1.4%
12.0%
净利率更高
ADBE
高出17.0%
12.6%
自由现金流更多
ADBE
多$3.0B
$-67.3M
两年增速更快
ADBE
近两年复合增速
0.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $3.4B |
| 净利润 | $1.9B | $423.2M |
| 毛利率 | 89.6% | — |
| 营业利润率 | 37.8% | 21.1% |
| 净利率 | 29.5% | 12.6% |
| 营收同比 | 12.0% | 13.4% |
| 净利润同比 | 4.3% | 468.8% |
| 每股收益（稀释后） | $4.60 | $1.11 |
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ADBEES
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $3.4B | ||
| Q3 25 | $6.0B | $3.2B | ||
| Q2 25 | $5.9B | $2.8B | ||
| Q1 25 | $5.7B | $4.1B | ||
| Q4 24 | $5.6B | $3.0B | ||
| Q3 24 | $5.4B | $3.1B | ||
| Q2 24 | $5.3B | $2.5B |
净利润ADBEES
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $423.2M | ||
| Q3 25 | $1.8B | $369.4M | ||
| Q2 25 | $1.7B | $354.6M | ||
| Q1 25 | $1.8B | $552.7M | ||
| Q4 24 | $1.7B | $74.4M | ||
| Q3 24 | $1.7B | $-116.2M | ||
| Q2 24 | $1.6B | $337.2M |
毛利率ADBEES
| 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ADBEES
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 21.1% | ||
| Q3 25 | 36.3% | 21.4% | ||
| Q2 25 | 35.9% | 23.4% | ||
| Q1 25 | 37.9% | 22.5% | ||
| Q4 24 | 34.9% | 11.7% | ||
| Q3 24 | 36.8% | 20.0% | ||
| Q2 24 | 35.5% | 23.8% |
净利率ADBEES
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | 12.6% | ||
| Q3 25 | 29.6% | 11.5% | ||
| Q2 25 | 28.8% | 12.5% | ||
| Q1 25 | 31.7% | 13.4% | ||
| Q4 24 | 30.0% | 2.5% | ||
| Q3 24 | 31.1% | -3.8% | ||
| Q2 24 | 29.6% | 13.3% |
每股收益（稀释后）ADBEES
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $1.11 | ||
| Q3 25 | $4.18 | $0.99 | ||
| Q2 25 | $3.94 | $0.96 | ||
| Q1 25 | $4.14 | $1.50 | ||
| Q4 24 | $3.75 | $0.16 | ||
| Q3 24 | $3.76 | $-0.33 | ||
| Q2 24 | $3.49 | $0.95 |
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 | $135.4M |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $11.4B | $16.2B |
| 总资产 | $29.7B | $63.8B |
| 负债/权益比越低杠杆越低 | 0.47× | — |
8季度趋势，按日历期对齐
现金及短期投资ADBEES
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $135.4M | ||
| Q3 25 | $5.9B | $259.3M | ||
| Q2 25 | $5.7B | $343.7M | ||
| Q1 25 | $7.4B | $111.4M | ||
| Q4 24 | $7.9B | $26.7M | ||
| Q3 24 | $7.5B | $97.9M | ||
| Q2 24 | $8.1B | — |
总债务ADBEES
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $6.2B | — | ||
| Q1 25 | $6.2B | — | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
股东权益ADBEES
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $16.2B | ||
| Q3 25 | $11.8B | $16.0B | ||
| Q2 25 | $11.4B | $15.7B | ||
| Q1 25 | $13.1B | $15.3B | ||
| Q4 24 | $14.1B | $15.0B | ||
| Q3 24 | $14.5B | $15.0B | ||
| Q2 24 | $14.8B | $14.8B |
总资产ADBEES
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $63.8B | ||
| Q3 25 | $28.8B | $61.7B | ||
| Q2 25 | $28.1B | $61.0B | ||
| Q1 25 | $30.0B | $60.2B | ||
| Q4 24 | $30.2B | $59.6B | ||
| Q3 24 | $29.8B | $58.6B | ||
| Q2 24 | $30.0B | $58.4B |
负债/权益比ADBEES
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.54× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 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 | $916.1M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $-67.3M |
| 自由现金流率自由现金流/营收 | 45.7% | -2.0% |
| 资本支出强度资本支出/营收 | 0.6% | 29.2% |
| 现金转化率经营现金流/净利润 | 1.57× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $10.3B | $-45.1M |
8季度趋势，按日历期对齐
经营现金流ADBEES
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $916.1M | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $2.2B | $1.1B | ||
| Q1 25 | $2.5B | $1.0B | ||
| Q4 24 | — | $642.1M | ||
| Q3 24 | $2.0B | $555.6M | ||
| Q2 24 | $1.9B | $670.7M |
自由现金流ADBEES
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $-67.3M | ||
| Q3 25 | $2.1B | $-26.3M | ||
| Q2 25 | $2.1B | $15.3M | ||
| Q1 25 | $2.5B | $33.2M | ||
| Q4 24 | — | $-546.5M | ||
| Q3 24 | $2.0B | $-515.4M | ||
| Q2 24 | $1.9B | $-400.8M |
自由现金流率ADBEES
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | -2.0% | ||
| Q3 25 | 35.5% | -0.8% | ||
| Q2 25 | 36.5% | 0.5% | ||
| Q1 25 | 43.0% | 0.8% | ||
| Q4 24 | — | -18.4% | ||
| Q3 24 | 36.3% | -16.8% | ||
| Q2 24 | 35.8% | -15.8% |
资本支出强度ADBEES
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 29.2% | ||
| Q3 25 | 1.2% | 35.0% | ||
| Q2 25 | 0.8% | 36.7% | ||
| Q1 25 | 0.5% | 24.5% | ||
| Q4 24 | — | 40.0% | ||
| Q3 24 | 1.1% | 35.0% | ||
| Q2 24 | 0.8% | 42.3% |
现金转化率ADBEES
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | 2.16× | ||
| Q3 25 | 1.24× | 2.98× | ||
| Q2 25 | 1.30× | 2.98× | ||
| Q1 25 | 1.37× | 1.88× | ||
| Q4 24 | — | 8.63× | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.23× | 1.99× |
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% |
ES
| Residential | $1.2B | 35% |
| Commercial | $789.0M | 23% |
| Eversource Electric Transmission | $573.8M | 17% |
| Wholesale Transmission Revenue | $570.0M | 17% |
| Industrial | $102.6M | 3% |
| Water Distribution Segment | $58.4M | 2% |
| Eversource Water | $56.3M | 2% |
| Other Revenue Adjustmentsfrom Contractswith Customers | $25.9M | 1% |
