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奥多比（ADBE）与徕博科（LH）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徕博科的1.8倍（$6.4B vs $3.5B），奥多比净利率更高（29.5% vs 4.7%，领先24.8%），奥多比同比增速更快（12.0% vs 5.6%），奥多比自由现金流更多（$2.9B vs $490.3M），过去两年奥多比的营收复合增速更高（9.8% vs 5.2%）
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。
徕博科（Labcorp）是全球领先的生命科学与诊断检测企业，面向医疗机构、制药企业和个人患者提供全面的临床检验服务、药物研发支持及医疗检测解决方案，依托先进科研经验与创新技术输出准确可落地的健康洞察，助力临床决策、加快新药研发，提升全球患者健康水平。
ADBE vs LH — 直观对比
营收规模更大
ADBE
是对方的1.8倍
$3.5B
营收增速更快
ADBE
高出6.4%
5.6%
净利率更高
ADBE
高出24.8%
4.7%
自由现金流更多
ADBE
多$2.4B
$490.3M
两年增速更快
ADBE
近两年复合增速
5.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $3.5B |
| 净利润 | $1.9B | $164.7M |
| 毛利率 | 89.6% | 28.2% |
| 营业利润率 | 37.8% | 7.6% |
| 净利率 | 29.5% | 4.7% |
| 营收同比 | 12.0% | 5.6% |
| 净利润同比 | 4.3% | 14.9% |
| 每股收益（稀释后） | $4.60 | $1.98 |
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ADBELH
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $3.5B | ||
| Q3 25 | $6.0B | $3.6B | ||
| Q2 25 | $5.9B | $3.5B | ||
| Q1 25 | $5.7B | $3.3B | ||
| Q4 24 | $5.6B | $3.3B | ||
| Q3 24 | $5.4B | $3.3B | ||
| Q2 24 | $5.3B | $3.2B |
净利润ADBELH
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $164.7M | ||
| Q3 25 | $1.8B | $261.1M | ||
| Q2 25 | $1.7B | $237.9M | ||
| Q1 25 | $1.8B | $212.8M | ||
| Q4 24 | $1.7B | $143.4M | ||
| Q3 24 | $1.7B | $169.3M | ||
| Q2 24 | $1.6B | $205.3M |
毛利率ADBELH
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 28.2% | ||
| Q3 25 | 89.3% | 28.8% | ||
| Q2 25 | 89.1% | 29.7% | ||
| Q1 25 | 89.1% | 28.3% | ||
| Q4 24 | 89.0% | 26.9% | ||
| Q3 24 | 89.8% | 27.6% | ||
| Q2 24 | 88.7% | 28.8% |
营业利润率ADBELH
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 7.6% | ||
| Q3 25 | 36.3% | 11.1% | ||
| Q2 25 | 35.9% | 11.2% | ||
| Q1 25 | 37.9% | 9.7% | ||
| Q4 24 | 34.9% | 6.5% | ||
| Q3 24 | 36.8% | 7.7% | ||
| Q2 24 | 35.5% | 9.2% |
净利率ADBELH
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | 4.7% | ||
| Q3 25 | 29.6% | 7.3% | ||
| Q2 25 | 28.8% | 6.7% | ||
| Q1 25 | 31.7% | 6.4% | ||
| Q4 24 | 30.0% | 4.3% | ||
| Q3 24 | 31.1% | 5.2% | ||
| Q2 24 | 29.6% | 6.4% |
每股收益（稀释后）ADBELH
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $1.98 | ||
| Q3 25 | $4.18 | $3.12 | ||
| Q2 25 | $3.94 | $2.84 | ||
| Q1 25 | $4.14 | $2.52 | ||
| Q4 24 | $3.75 | $1.72 | ||
| Q3 24 | $3.76 | $2.00 | ||
| Q2 24 | $3.49 | $2.43 |
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 | $532.3M |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $11.4B | $8.6B |
| 总资产 | $29.7B | $18.4B |
| 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ADBELH
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $532.3M | ||
| Q3 25 | $5.9B | $598.1M | ||
| Q2 25 | $5.7B | $647.3M | ||
| Q1 25 | $7.4B | $369.4M | ||
| Q4 24 | $7.9B | $1.5B | ||
| Q3 24 | $7.5B | $1.5B | ||
| Q2 24 | $8.1B | $265.1M |
总债务ADBELH
| 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ADBELH
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $8.6B | ||
| Q3 25 | $11.8B | $8.7B | ||
| Q2 25 | $11.4B | $8.5B | ||
| Q1 25 | $13.1B | $8.3B | ||
| Q4 24 | $14.1B | $8.1B | ||
| Q3 24 | $14.5B | $8.2B | ||
| Q2 24 | $14.8B | $8.0B |
总资产ADBELH
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $18.4B | ||
| Q3 25 | $28.8B | $18.3B | ||
| Q2 25 | $28.1B | $18.1B | ||
| Q1 25 | $30.0B | $17.6B | ||
| Q4 24 | $30.2B | $18.4B | ||
| Q3 24 | $29.8B | $18.6B | ||
| Q2 24 | $30.0B | $16.7B |
负债/权益比ADBELH
| 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 | $614.2M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $490.3M |
| 自由现金流率自由现金流/营收 | 45.7% | 13.9% |
| 资本支出强度资本支出/营收 | 0.6% | 3.5% |
| 现金转化率经营现金流/净利润 | 1.57× | 3.73× |
| 过去12个月自由现金流最近4个季度 | $10.3B | $1.2B |
8季度趋势，按日历期对齐
经营现金流ADBELH
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $614.2M | ||
| Q3 25 | $2.2B | $387.2M | ||
| Q2 25 | $2.2B | $620.6M | ||
| Q1 25 | $2.5B | $18.5M | ||
| Q4 24 | — | $777.2M | ||
| Q3 24 | $2.0B | $277.3M | ||
| Q2 24 | $1.9B | $561.1M |
自由现金流ADBELH
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $490.3M | ||
| Q3 25 | $2.1B | $280.5M | ||
| Q2 25 | $2.1B | $542.7M | ||
| Q1 25 | $2.5B | $-107.5M | ||
| Q4 24 | — | $665.1M | ||
| Q3 24 | $2.0B | $161.5M | ||
| Q2 24 | $1.9B | $432.9M |
自由现金流率ADBELH
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 13.9% | ||
| Q3 25 | 35.5% | 7.9% | ||
| Q2 25 | 36.5% | 15.4% | ||
| Q1 25 | 43.0% | -3.2% | ||
| Q4 24 | — | 20.0% | ||
| Q3 24 | 36.3% | 4.9% | ||
| Q2 24 | 35.8% | 13.4% |
资本支出强度ADBELH
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 3.5% | ||
| Q3 25 | 1.2% | 3.0% | ||
| Q2 25 | 0.8% | 2.2% | ||
| Q1 25 | 0.5% | 3.8% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | 1.1% | 3.5% | ||
| Q2 24 | 0.8% | 4.0% |
现金转化率ADBELH
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | 3.73× | ||
| Q3 25 | 1.24× | 1.48× | ||
| Q2 25 | 1.30× | 2.61× | ||
| Q1 25 | 1.37× | 0.09× | ||
| Q4 24 | — | 5.42× | ||
| Q3 24 | 1.20× | 1.64× | ||
| Q2 24 | 1.23× | 2.73× |
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% |
LH
| Diagnostics | $2.7B | 78% |
| Biopharma Laboratory Services | $793.0M | 23% |
