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奥多比（ADBE）与林德（LIN）财务数据对比。点击上方公司名可切换其他公司
林德的季度营收约是奥多比的1.4倍（$8.8B vs $6.4B），奥多比净利率更高（29.5% vs 17.5%，领先12.1%），奥多比同比增速更快（12.0% vs 5.8%），奥多比自由现金流更多（$2.9B vs $1.6B），过去两年奥多比的营收复合增速更高（9.8% vs 4.0%）
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。
林德是全球知名跨国化工企业，按市场份额及营收计为全球最大工业气体供应商。公司1879年由德国科学家、工程师卡尔·冯·林德在德国威斯巴登创立，现总部位于英国沃金，在爱尔兰注册，2018年由原林德股份公司与1907年在美国成立的普莱克斯合并组建。
ADBE vs LIN — 直观对比
营收规模更大
LIN
是对方的1.4倍
$6.4B
营收增速更快
ADBE
高出6.2%
5.8%
净利率更高
ADBE
高出12.1%
17.5%
自由现金流更多
ADBE
多$1.3B
$1.6B
两年增速更快
ADBE
近两年复合增速
4.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $8.8B |
| 净利润 | $1.9B | $1.5B |
| 毛利率 | 89.6% | — |
| 营业利润率 | 37.8% | 23.0% |
| 净利率 | 29.5% | 17.5% |
| 营收同比 | 12.0% | 5.8% |
| 净利润同比 | 4.3% | -11.3% |
| 每股收益（稀释后） | $4.60 | $3.28 |
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ADBELIN
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $8.8B | ||
| Q3 25 | $6.0B | $8.6B | ||
| Q2 25 | $5.9B | $8.5B | ||
| Q1 25 | $5.7B | $8.1B | ||
| Q4 24 | $5.6B | $8.3B | ||
| Q3 24 | $5.4B | $8.4B | ||
| Q2 24 | $5.3B | $8.3B |
净利润ADBELIN
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $1.5B | ||
| Q3 25 | $1.8B | $1.9B | ||
| Q2 25 | $1.7B | $1.8B | ||
| Q1 25 | $1.8B | $1.7B | ||
| Q4 24 | $1.7B | $1.7B | ||
| Q3 24 | $1.7B | $1.6B | ||
| Q2 24 | $1.6B | $1.7B |
毛利率ADBELIN
| 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ADBELIN
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 23.0% | ||
| Q3 25 | 36.3% | 27.5% | ||
| Q2 25 | 35.9% | 27.7% | ||
| Q1 25 | 37.9% | 26.9% | ||
| Q4 24 | 34.9% | 27.4% | ||
| Q3 24 | 36.8% | 25.0% | ||
| Q2 24 | 35.5% | 26.4% |
净利率ADBELIN
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | 17.5% | ||
| Q3 25 | 29.6% | 22.4% | ||
| Q2 25 | 28.8% | 20.8% | ||
| Q1 25 | 31.7% | 20.6% | ||
| Q4 24 | 30.0% | 20.8% | ||
| Q3 24 | 31.1% | 18.5% | ||
| Q2 24 | 29.6% | 20.1% |
每股收益（稀释后）ADBELIN
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $3.28 | ||
| Q3 25 | $4.18 | $4.09 | ||
| Q2 25 | $3.94 | $3.73 | ||
| Q1 25 | $4.14 | $3.51 | ||
| Q4 24 | $3.75 | $3.61 | ||
| Q3 24 | $3.76 | $3.22 | ||
| Q2 24 | $3.49 | $3.44 |
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 | $5.1B |
| 总债务越低越好 | $5.4B | $20.7B |
| 股东权益账面价值 | $11.4B | $38.2B |
| 总资产 | $29.7B | $86.8B |
| 负债/权益比越低杠杆越低 | 0.47× | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资ADBELIN
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $5.1B | ||
| Q3 25 | $5.9B | $4.5B | ||
| Q2 25 | $5.7B | $4.8B | ||
| Q1 25 | $7.4B | $5.3B | ||
| Q4 24 | $7.9B | $4.8B | ||
| Q3 24 | $7.5B | $5.2B | ||
| Q2 24 | $8.1B | $4.6B |
总债务ADBELIN
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | $20.7B | ||
| Q3 25 | $6.2B | $18.6B | ||
| Q2 25 | $6.2B | $19.7B | ||
| Q1 25 | $6.2B | $17.6B | ||
| Q4 24 | $4.1B | $15.3B | ||
| Q3 24 | $4.1B | $17.5B | ||
| Q2 24 | $4.1B | $16.9B |
股东权益ADBELIN
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $38.2B | ||
| Q3 25 | $11.8B | $38.6B | ||
| Q2 25 | $11.4B | $38.5B | ||
| Q1 25 | $13.1B | $38.0B | ||
| Q4 24 | $14.1B | $38.1B | ||
| Q3 24 | $14.5B | $39.2B | ||
| Q2 24 | $14.8B | $38.2B |
总资产ADBELIN
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $86.8B | ||
| Q3 25 | $28.8B | $86.0B | ||
| Q2 25 | $28.1B | $86.1B | ||
| Q1 25 | $30.0B | $82.7B | ||
| Q4 24 | $30.2B | $80.1B | ||
| Q3 24 | $29.8B | $82.5B | ||
| Q2 24 | $30.0B | $80.2B |
负债/权益比ADBELIN
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | 0.54× | ||
| Q3 25 | 0.53× | 0.48× | ||
| Q2 25 | 0.54× | 0.51× | ||
| Q1 25 | 0.47× | 0.46× | ||
| Q4 24 | 0.29× | 0.40× | ||
| Q3 24 | 0.28× | 0.45× | ||
| Q2 24 | 0.28× | 0.44× |
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 | $3.0B |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $1.6B |
| 自由现金流率自由现金流/营收 | 45.7% | 17.9% |
| 资本支出强度资本支出/营收 | 0.6% | 16.6% |
| 现金转化率经营现金流/净利润 | 1.57× | 1.98× |
| 过去12个月自由现金流最近4个季度 | $10.3B | $5.1B |
8季度趋势，按日历期对齐
经营现金流ADBELIN
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $3.0B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $2.2B | $2.2B | ||
| Q1 25 | $2.5B | $2.2B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | $2.0B | $2.7B | ||
| Q2 24 | $1.9B | $1.9B |
自由现金流ADBELIN
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $1.6B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $2.1B | $954.0M | ||
| Q1 25 | $2.5B | $891.0M | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $2.0B | $1.7B | ||
| Q2 24 | $1.9B | $796.0M |
自由现金流率ADBELIN
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 17.9% | ||
| Q3 25 | 35.5% | 19.4% | ||
| Q2 25 | 36.5% | 11.2% | ||
| Q1 25 | 43.0% | 11.0% | ||
| Q4 24 | — | 18.8% | ||
| Q3 24 | 36.3% | 19.9% | ||
| Q2 24 | 35.8% | 9.6% |
资本支出强度ADBELIN
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 16.6% | ||
| Q3 25 | 1.2% | 14.8% | ||
| Q2 25 | 0.8% | 14.8% | ||
| Q1 25 | 0.5% | 15.7% | ||
| Q4 24 | — | 15.1% | ||
| Q3 24 | 1.1% | 12.8% | ||
| Q2 24 | 0.8% | 13.7% |
现金转化率ADBELIN
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | 1.98× | ||
| Q3 25 | 1.24× | 1.53× | ||
| Q2 25 | 1.30× | 1.25× | ||
| Q1 25 | 1.37× | 1.29× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | 1.20× | 1.76× | ||
| Q2 24 | 1.23× | 1.16× |
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% |
LIN
| Other | $4.9B | 56% |
| Packaged Gas | $1.6B | 19% |
| Merchant | $1.2B | 14% |
| On Site | $950.0M | 11% |
| Other Distribution Methods | $64.0M | 1% |
