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奥多比（ADBE）与SkyWater Technology, Inc（SKYT）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SkyWater Technology, Inc的37.4倍（$6.4B vs $171.0M），奥多比净利率更高（29.5% vs -4.5%，领先34.1%），SkyWater Technology, Inc同比增速更快（126.6% vs 12.0%），奥多比自由现金流更多（$2.9B vs $-42.2M），过去两年SkyWater Technology, Inc的营收复合增速更高（46.6% 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。
SkyWater Technology是一家总部位于美国明尼苏达州布卢明顿的半导体工程及制造晶圆代工厂，也是唯一一家美资纯硅晶圆代工企业，专注于为客户提供半导体研发与生产制造相关服务，在半导体制造领域拥有独特的本土产业地位。
ADBE vs SKYT — 直观对比
营收规模更大
ADBE
是对方的37.4倍
$171.0M
营收增速更快
SKYT
高出114.6%
12.0%
净利率更高
ADBE
高出34.1%
-4.5%
自由现金流更多
ADBE
多$3.0B
$-42.2M
两年增速更快
SKYT
近两年复合增速
9.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $171.0M |
| 净利润 | $1.9B | $-7.8M |
| 毛利率 | 89.6% | 14.9% |
| 营业利润率 | 37.8% | 0.0% |
| 净利率 | 29.5% | -4.5% |
| 营收同比 | 12.0% | 126.6% |
| 净利润同比 | 4.3% | -1045.8% |
| 每股收益（稀释后） | $4.60 | $-0.15 |
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ADBESKYT
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $171.0M | ||
| Q3 25 | $6.0B | $150.7M | ||
| Q2 25 | $5.9B | $59.1M | ||
| Q1 25 | $5.7B | $61.3M | ||
| Q4 24 | $5.6B | $75.5M | ||
| Q3 24 | $5.4B | $93.8M | ||
| Q2 24 | $5.3B | $93.3M |
净利润ADBESKYT
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $-7.8M | ||
| Q3 25 | $1.8B | $144.0M | ||
| Q2 25 | $1.7B | $-10.0M | ||
| Q1 25 | $1.8B | $-7.3M | ||
| Q4 24 | $1.7B | $-679.0K | ||
| Q3 24 | $1.7B | $1.5M | ||
| Q2 24 | $1.6B | $-1.9M |
毛利率ADBESKYT
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 14.9% | ||
| Q3 25 | 89.3% | 24.0% | ||
| Q2 25 | 89.1% | 18.5% | ||
| Q1 25 | 89.1% | 23.3% | ||
| Q4 24 | 89.0% | 25.6% | ||
| Q3 24 | 89.8% | 21.6% | ||
| Q2 24 | 88.7% | 18.3% |
营业利润率ADBESKYT
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 0.0% | ||
| Q3 25 | 36.3% | 5.2% | ||
| Q2 25 | 35.9% | -11.0% | ||
| Q1 25 | 37.9% | -6.6% | ||
| Q4 24 | 34.9% | 3.5% | ||
| Q3 24 | 36.8% | 5.0% | ||
| Q2 24 | 35.5% | 1.5% |
净利率ADBESKYT
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | -4.5% | ||
| Q3 25 | 29.6% | 95.5% | ||
| Q2 25 | 28.8% | -16.9% | ||
| Q1 25 | 31.7% | -12.0% | ||
| Q4 24 | 30.0% | -0.9% | ||
| Q3 24 | 31.1% | 1.6% | ||
| Q2 24 | 29.6% | -2.0% |
每股收益（稀释后）ADBESKYT
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $-0.15 | ||
| Q3 25 | $4.18 | $2.95 | ||
| Q2 25 | $3.94 | $-0.21 | ||
| Q1 25 | $4.14 | $-0.15 | ||
| Q4 24 | $3.75 | $-0.01 | ||
| Q3 24 | $3.76 | $0.03 | ||
| Q2 24 | $3.49 | $-0.04 |
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 | $23.2M |
| 总债务越低越好 | $5.4B | $38.9M |
| 股东权益账面价值 | $11.4B | $187.8M |
| 总资产 | $29.7B | $733.9M |
| 负债/权益比越低杠杆越低 | 0.47× | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资ADBESKYT
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $23.2M | ||
| Q3 25 | $5.9B | $30.9M | ||
| Q2 25 | $5.7B | $49.4M | ||
| Q1 25 | $7.4B | $51.2M | ||
| Q4 24 | $7.9B | $18.8M | ||
| Q3 24 | $7.5B | $20.7M | ||
| Q2 24 | $8.1B | $18.4M |
总债务ADBESKYT
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | $38.9M | ||
| Q3 25 | $6.2B | $40.4M | ||
| Q2 25 | $6.2B | $42.1M | ||
| Q1 25 | $6.2B | $38.6M | ||
| Q4 24 | $4.1B | $39.8M | ||
| Q3 24 | $4.1B | $41.3M | ||
| Q2 24 | $4.1B | $42.4M |
股东权益ADBESKYT
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $187.8M | ||
| Q3 25 | $11.8B | $192.8M | ||
| Q2 25 | $11.4B | $45.2M | ||
| Q1 25 | $13.1B | $53.4M | ||
| Q4 24 | $14.1B | $55.6M | ||
| Q3 24 | $14.5B | $56.2M | ||
| Q2 24 | $14.8B | $51.5M |
总资产ADBESKYT
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $733.9M | ||
| Q3 25 | $28.8B | $787.0M | ||
| Q2 25 | $28.1B | $334.7M | ||
| Q1 25 | $30.0B | $326.8M | ||
| Q4 24 | $30.2B | $311.8M | ||
| Q3 24 | $29.8B | $315.1M | ||
| Q2 24 | $30.0B | $290.4M |
负债/权益比ADBESKYT
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | 0.21× | ||
| Q3 25 | 0.53× | 0.21× | ||
| Q2 25 | 0.54× | 0.93× | ||
| Q1 25 | 0.47× | 0.72× | ||
| Q4 24 | 0.29× | 0.71× | ||
| Q3 24 | 0.28× | 0.73× | ||
| Q2 24 | 0.28× | 0.82× |
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 | $-36.1M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $-42.2M |
| 自由现金流率自由现金流/营收 | 45.7% | -24.7% |
| 资本支出强度资本支出/营收 | 0.6% | 3.6% |
| 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 | $-53.3M |
8季度趋势，按日历期对齐
经营现金流ADBESKYT
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $-36.1M | ||
| Q3 25 | $2.2B | $-47.2M | ||
| Q2 25 | $2.2B | $-1.7M | ||
| Q1 25 | $2.5B | $56.0M | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | $2.0B | $14.3M | ||
| Q2 24 | $1.9B | $9.3M |
自由现金流ADBESKYT
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $-42.2M | ||
| Q3 25 | $2.1B | $-48.0M | ||
| Q2 25 | $2.1B | $-4.3M | ||
| Q1 25 | $2.5B | $41.2M | ||
| Q4 24 | — | $-2.0M | ||
| Q3 24 | $2.0B | $9.1M | ||
| Q2 24 | $1.9B | $8.5M |
自由现金流率ADBESKYT
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | -24.7% | ||
| Q3 25 | 35.5% | -31.9% | ||
| Q2 25 | 36.5% | -7.3% | ||
| Q1 25 | 43.0% | 67.2% | ||
| Q4 24 | — | -2.6% | ||
| Q3 24 | 36.3% | 9.7% | ||
| Q2 24 | 35.8% | 9.1% |
资本支出强度ADBESKYT
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 3.6% | ||
| Q3 25 | 1.2% | 0.6% | ||
| Q2 25 | 0.8% | 4.5% | ||
| Q1 25 | 0.5% | 24.1% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | 1.1% | 5.5% | ||
| Q2 24 | 0.8% | 0.9% |
现金转化率ADBESKYT
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | — | ||
| Q3 25 | 1.24× | -0.33× | ||
| Q2 25 | 1.30× | — | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.20× | 9.47× | ||
| 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% |
SKYT
| Advanced Technology Services Time And Materials And Cost Plus Fixed Fee Contracts | $140.9M | 82% |
| Tool | $28.9M | 17% |
| Overbilling Of ATS Development Revenues | $2.0M | 1% |
