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奥多比（ADBE）与KLA Corporation（KLAC）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KLA Corporation的1.9倍（$6.4B vs $3.3B）。KLA Corporation净利率更高（34.7% vs 29.5%，领先5.2%）。奥多比同比增速更快（12.0% vs 7.2%）。奥多比自由现金流更多（$2.9B vs $1.3B）。过去两年KLA Corporation的营收复合增速更高（18.2% 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。
KLA Corporation是总部位于美国加利福尼亚州米尔皮塔斯的企业，主营晶圆制造设备，为半导体及相关纳米电子行业提供过程控制与良率管理系统，产品及服务覆盖晶圆、光罩、集成电路、封装生产从研发到批量制造的全流程。
ADBE vs KLAC — 直观对比
营收规模更大
ADBE
是对方的1.9倍
$3.3B
营收增速更快
ADBE
高出4.8%
7.2%
净利率更高
KLAC
高出5.2%
29.5%
自由现金流更多
ADBE
多$1.7B
$1.3B
两年增速更快
KLAC
近两年复合增速
9.8%
损益表 — Q1 2026 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $3.3B |
| 净利润 | $1.9B | $1.1B |
| 毛利率 | 89.6% | 61.4% |
| 营业利润率 | 37.8% | — |
| 净利率 | 29.5% | 34.7% |
| 营收同比 | 12.0% | 7.2% |
| 净利润同比 | 4.3% | 39.0% |
| 每股收益（稀释后） | $4.60 | $8.68 |
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ADBEKLAC
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $3.3B | ||
| Q3 25 | $6.0B | $3.2B | ||
| Q2 25 | $5.9B | $3.2B | ||
| Q1 25 | $5.7B | $3.1B | ||
| Q4 24 | $5.6B | $3.1B | ||
| Q3 24 | $5.4B | $2.8B | ||
| Q2 24 | $5.3B | $2.6B |
净利润ADBEKLAC
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.8B | $1.1B | ||
| Q4 24 | $1.7B | $824.5M | ||
| Q3 24 | $1.7B | $945.9M | ||
| Q2 24 | $1.6B | $836.4M |
毛利率ADBEKLAC
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 61.4% | ||
| Q3 25 | 89.3% | 61.3% | ||
| Q2 25 | 89.1% | 62.0% | ||
| Q1 25 | 89.1% | 61.6% | ||
| Q4 24 | 89.0% | 60.3% | ||
| Q3 24 | 89.8% | 59.6% | ||
| Q2 24 | 88.7% | 60.7% |
营业利润率ADBEKLAC
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | — | ||
| Q3 25 | 36.3% | — | ||
| Q2 25 | 35.9% | 41.9% | ||
| Q1 25 | 37.9% | 41.3% | ||
| Q4 24 | 34.9% | 31.6% | ||
| Q3 24 | 36.8% | 38.0% | ||
| Q2 24 | 35.5% | 36.8% |
净利率ADBEKLAC
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | 34.7% | ||
| Q3 25 | 29.6% | 34.9% | ||
| Q2 25 | 28.8% | 37.9% | ||
| Q1 25 | 31.7% | 35.5% | ||
| Q4 24 | 30.0% | 26.8% | ||
| Q3 24 | 31.1% | 33.3% | ||
| Q2 24 | 29.6% | 32.6% |
每股收益（稀释后）ADBEKLAC
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $8.68 | ||
| Q3 25 | $4.18 | $8.47 | ||
| Q2 25 | $3.94 | $9.04 | ||
| Q1 25 | $4.14 | $8.16 | ||
| Q4 24 | $3.75 | $6.16 | ||
| Q3 24 | $3.76 | $7.01 | ||
| Q2 24 | $3.49 | $6.16 |
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 | $2.5B |
| 总债务越低越好 | $5.4B | $5.9B |
| 股东权益账面价值 | $11.4B | $5.5B |
| 总资产 | $29.7B | $16.7B |
| 负债/权益比越低杠杆越低 | 0.47× | 1.08× |
8季度趋势，按日历期对齐
现金及短期投资ADBEKLAC
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $2.5B | ||
| Q3 25 | $5.9B | $1.9B | ||
| Q2 25 | $5.7B | $2.1B | ||
| Q1 25 | $7.4B | $1.9B | ||
| Q4 24 | $7.9B | $1.8B | ||
| Q3 24 | $7.5B | $2.0B | ||
| Q2 24 | $8.1B | $2.0B |
总债务ADBEKLAC
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | $5.9B | ||
| Q3 25 | $6.2B | $5.9B | ||
| Q2 25 | $6.2B | $5.9B | ||
| Q1 25 | $6.2B | $5.9B | ||
| Q4 24 | $4.1B | $5.9B | ||
| Q3 24 | $4.1B | $5.9B | ||
| Q2 24 | $4.1B | $5.9B |
股东权益ADBEKLAC
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $5.5B | ||
| Q3 25 | $11.8B | $5.0B | ||
| Q2 25 | $11.4B | $4.7B | ||
| Q1 25 | $13.1B | $4.0B | ||
| Q4 24 | $14.1B | $3.6B | ||
| Q3 24 | $14.5B | $3.6B | ||
| Q2 24 | $14.8B | $3.4B |
总资产ADBEKLAC
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $16.7B | ||
| Q3 25 | $28.8B | $16.3B | ||
| Q2 25 | $28.1B | $16.1B | ||
| Q1 25 | $30.0B | $15.2B | ||
| Q4 24 | $30.2B | $15.0B | ||
| Q3 24 | $29.8B | $15.7B | ||
| Q2 24 | $30.0B | $15.4B |
负债/权益比ADBEKLAC
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | 1.08× | ||
| Q3 25 | 0.53× | 1.18× | ||
| Q2 25 | 0.54× | 1.25× | ||
| Q1 25 | 0.47× | 1.47× | ||
| Q4 24 | 0.29× | 1.64× | ||
| Q3 24 | 0.28× | 1.65× | ||
| Q2 24 | 0.28× | 1.75× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $1.3B |
| 自由现金流率自由现金流/营收 | 45.7% | 38.3% |
| 资本支出强度资本支出/营收 | 0.6% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.57× | 1.19× |
| 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ADBEKLAC
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $1.4B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.5B | $1.1B | ||
| Q4 24 | — | $849.5M | ||
| Q3 24 | $2.0B | $995.2M | ||
| Q2 24 | $1.9B | $892.6M |
自由现金流ADBEKLAC
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $1.3B | ||
| Q3 25 | $2.1B | $1.1B | ||
| Q2 25 | $2.1B | $1.1B | ||
| Q1 25 | $2.5B | $990.0M | ||
| Q4 24 | — | $757.2M | ||
| Q3 24 | $2.0B | $934.8M | ||
| Q2 24 | $1.9B | $831.9M |
自由现金流率ADBEKLAC
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 38.3% | ||
| Q3 25 | 35.5% | 33.2% | ||
| Q2 25 | 36.5% | 33.5% | ||
| Q1 25 | 43.0% | 32.3% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 36.3% | 32.9% | ||
| Q2 24 | 35.8% | 32.4% |
资本支出强度ADBEKLAC
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 3.2% | ||
| Q3 25 | 1.2% | 3.0% | ||
| Q2 25 | 0.8% | 3.2% | ||
| Q1 25 | 0.5% | 2.7% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | 1.1% | 2.1% | ||
| Q2 24 | 0.8% | 2.4% |
现金转化率ADBEKLAC
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | 1.19× | ||
| Q3 25 | 1.24× | 1.04× | ||
| Q2 25 | 1.30× | 0.97× | ||
| Q1 25 | 1.37× | 0.99× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | 1.20× | 1.05× | ||
| Q2 24 | 1.23× | 1.07× |
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% |
KLAC
| Wafer Inspection | $1.6B | 48% |
| Services | $786.1M | 24% |
| Patterning | $696.2M | 21% |
| Specialty Semiconductor Process | $121.6M | 4% |
| PCB And Component Inspection | $80.3M | 2% |
| Other Revenue | $40.2M | 1% |
