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奥多比（ADBE）与MERCURY SYSTEMS INC（MRCY）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MERCURY SYSTEMS INC的27.5倍（$6.4B vs $232.9M）。奥多比净利率更高（29.5% vs -6.5%，领先36.0%）。奥多比同比增速更快（12.0% vs 4.4%）。奥多比自由现金流更多（$2.9B vs $45.7M）。过去两年奥多比的营收复合增速更高（9.8% vs 5.7%）
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。
Mercury Systems是一家服务于航空航天与国防领域的科技企业，专注于设计、研发及生产开放式架构计算机软硬件产品，覆盖安全嵌入式处理模块与子系统、航电任务计算机及显示器、加固型安全服务器、可信微电子组件与子系统等多类产品。
ADBE vs MRCY — 直观对比
营收规模更大
ADBE
是对方的27.5倍
$232.9M
营收增速更快
ADBE
高出7.6%
4.4%
净利率更高
ADBE
高出36.0%
-6.5%
自由现金流更多
ADBE
多$2.9B
$45.7M
两年增速更快
ADBE
近两年复合增速
5.7%
损益表 — Q1 2026 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $232.9M |
| 净利润 | $1.9B | $-15.1M |
| 毛利率 | 89.6% | 26.0% |
| 营业利润率 | 37.8% | -4.6% |
| 净利率 | 29.5% | -6.5% |
| 营收同比 | 12.0% | 4.4% |
| 净利润同比 | 4.3% | 14.1% |
| 每股收益（稀释后） | $4.60 | $-0.26 |
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ADBEMRCY
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $232.9M | ||
| Q3 25 | $6.0B | $225.2M | ||
| Q2 25 | $5.9B | $273.1M | ||
| Q1 25 | $5.7B | $211.4M | ||
| Q4 24 | $5.6B | $223.1M | ||
| Q3 24 | $5.4B | $204.4M | ||
| Q2 24 | $5.3B | $248.6M |
净利润ADBEMRCY
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $-15.1M | ||
| Q3 25 | $1.8B | $-12.5M | ||
| Q2 25 | $1.7B | $16.4M | ||
| Q1 25 | $1.8B | $-19.2M | ||
| Q4 24 | $1.7B | $-17.6M | ||
| Q3 24 | $1.7B | $-17.5M | ||
| Q2 24 | $1.6B | $-10.8M |
毛利率ADBEMRCY
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 26.0% | ||
| Q3 25 | 89.3% | 27.9% | ||
| Q2 25 | 89.1% | 31.0% | ||
| Q1 25 | 89.1% | 27.0% | ||
| Q4 24 | 89.0% | 27.3% | ||
| Q3 24 | 89.8% | 25.3% | ||
| Q2 24 | 88.7% | 29.5% |
营业利润率ADBEMRCY
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | -4.6% | ||
| Q3 25 | 36.3% | -3.8% | ||
| Q2 25 | 35.9% | 8.6% | ||
| Q1 25 | 37.9% | -8.2% | ||
| Q4 24 | 34.9% | -5.6% | ||
| Q3 24 | 36.8% | -6.6% | ||
| Q2 24 | 35.5% | -3.2% |
净利率ADBEMRCY
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | -6.5% | ||
| Q3 25 | 29.6% | -5.6% | ||
| Q2 25 | 28.8% | 6.0% | ||
| Q1 25 | 31.7% | -9.1% | ||
| Q4 24 | 30.0% | -7.9% | ||
| Q3 24 | 31.1% | -8.6% | ||
| Q2 24 | 29.6% | -4.3% |
每股收益（稀释后）ADBEMRCY
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $-0.26 | ||
| Q3 25 | $4.18 | $-0.21 | ||
| Q2 25 | $3.94 | $0.28 | ||
| Q1 25 | $4.14 | $-0.33 | ||
| Q4 24 | $3.75 | $-0.30 | ||
| Q3 24 | $3.76 | $-0.30 | ||
| Q2 24 | $3.49 | $-0.18 |
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 | $335.0M |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $11.4B | $1.5B |
| 总资产 | $29.7B | $2.5B |
| 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ADBEMRCY
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $335.0M | ||
| Q3 25 | $5.9B | $304.7M | ||
| Q2 25 | $5.7B | $309.1M | ||
| Q1 25 | $7.4B | $269.8M | ||
| Q4 24 | $7.9B | $242.6M | ||
| Q3 24 | $7.5B | $158.1M | ||
| Q2 24 | $8.1B | $180.5M |
总债务ADBEMRCY
| 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ADBEMRCY
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $1.5B | ||
| Q3 25 | $11.8B | $1.5B | ||
| Q2 25 | $11.4B | $1.5B | ||
| Q1 25 | $13.1B | $1.5B | ||
| Q4 24 | $14.1B | $1.5B | ||
| Q3 24 | $14.5B | $1.5B | ||
| Q2 24 | $14.8B | $1.5B |
总资产ADBEMRCY
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $2.5B | ||
| Q3 25 | $28.8B | $2.5B | ||
| Q2 25 | $28.1B | $2.4B | ||
| Q1 25 | $30.0B | $2.4B | ||
| Q4 24 | $30.2B | $2.4B | ||
| Q3 24 | $29.8B | $2.4B | ||
| Q2 24 | $30.0B | $2.4B |
负债/权益比ADBEMRCY
| 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 | $51.6M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $45.7M |
| 自由现金流率自由现金流/营收 | 45.7% | 19.6% |
| 资本支出强度资本支出/营收 | 0.6% | 2.5% |
| 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 | $99.4M |
8季度趋势，按日历期对齐
经营现金流ADBEMRCY
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $51.6M | ||
| Q3 25 | $2.2B | $2.2M | ||
| Q2 25 | $2.2B | $38.1M | ||
| Q1 25 | $2.5B | $30.0M | ||
| Q4 24 | — | $85.5M | ||
| Q3 24 | $2.0B | $-14.7M | ||
| Q2 24 | $1.9B | $71.8M |
自由现金流ADBEMRCY
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $45.7M | ||
| Q3 25 | $2.1B | $-4.4M | ||
| Q2 25 | $2.1B | $34.0M | ||
| Q1 25 | $2.5B | $24.1M | ||
| Q4 24 | — | $81.9M | ||
| Q3 24 | $2.0B | $-20.9M | ||
| Q2 24 | $1.9B | $61.4M |
自由现金流率ADBEMRCY
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 19.6% | ||
| Q3 25 | 35.5% | -1.9% | ||
| Q2 25 | 36.5% | 12.4% | ||
| Q1 25 | 43.0% | 11.4% | ||
| Q4 24 | — | 36.7% | ||
| Q3 24 | 36.3% | -10.2% | ||
| Q2 24 | 35.8% | 24.7% |
资本支出强度ADBEMRCY
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 2.5% | ||
| Q3 25 | 1.2% | 2.9% | ||
| Q2 25 | 0.8% | 1.5% | ||
| Q1 25 | 0.5% | 2.8% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | 1.1% | 3.1% | ||
| Q2 24 | 0.8% | 4.2% |
现金转化率ADBEMRCY
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | — | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 1.30× | 2.33× | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.23× | — |
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% |
MRCY
| Airborne | $84.2M | 36% |
| Components | $48.7M | 21% |
| Other End Applications | $36.8M | 16% |
| Electronic Warfare | $27.5M | 12% |
| Other Sensor And Effector Applications | $23.9M | 10% |
| Space | $11.9M | 5% |
