vs
奥多比（ADBE）与史丹利百得（SWK）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史丹利百得的1.7倍（$6.4B vs $3.8B），奥多比净利率更高（29.5% vs 1.4%，领先28.2%），奥多比同比增速更快（12.0% vs 0.1%），奥多比自由现金流更多（$2.9B vs $155.3M），过去两年奥多比的营收复合增速更高（9.8% vs 0.3%）
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。
史丹利百得是美国知名的工业工具、家用五金产品制造商，同时提供安防类产品，前身为史丹利工具有限公司，由史丹利与百得于2010年3月12日合并而来，总部位于康涅狄格州大哈特福德地区的新不列颠市。
ADBE vs SWK — 直观对比
营收规模更大
ADBE
是对方的1.7倍
$3.8B
营收增速更快
ADBE
高出11.8%
0.1%
净利率更高
ADBE
高出28.2%
1.4%
自由现金流更多
ADBE
多$2.8B
$155.3M
两年增速更快
ADBE
近两年复合增速
0.3%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $3.8B |
| 净利润 | $1.9B | $51.4M |
| 毛利率 | 89.6% | 31.4% |
| 营业利润率 | 37.8% | — |
| 净利率 | 29.5% | 1.4% |
| 营收同比 | 12.0% | 0.1% |
| 净利润同比 | 4.3% | -43.6% |
| 每股收益（稀释后） | $4.60 | $0.34 |
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ADBESWK
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.0B | $3.8B | ||
| Q2 25 | $5.9B | $3.9B | ||
| Q1 25 | $5.7B | $3.7B | ||
| Q4 24 | $5.6B | $3.7B | ||
| Q3 24 | $5.4B | $3.8B | ||
| Q2 24 | $5.3B | $4.0B |
净利润ADBESWK
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.8B | $51.4M | ||
| Q2 25 | $1.7B | $101.9M | ||
| Q1 25 | $1.8B | $90.4M | ||
| Q4 24 | $1.7B | $194.9M | ||
| Q3 24 | $1.7B | $91.1M | ||
| Q2 24 | $1.6B | $-11.2M |
毛利率ADBESWK
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | — | ||
| Q3 25 | 89.3% | 31.4% | ||
| Q2 25 | 89.1% | 27.0% | ||
| Q1 25 | 89.1% | 29.9% | ||
| Q4 24 | 89.0% | 30.8% | ||
| Q3 24 | 89.8% | 29.9% | ||
| Q2 24 | 88.7% | 28.4% |
营业利润率ADBESWK
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | — | ||
| Q3 25 | 36.3% | — | ||
| Q2 25 | 35.9% | — | ||
| Q1 25 | 37.9% | — | ||
| Q4 24 | 34.9% | 3.4% | ||
| Q3 24 | 36.8% | 10.6% | ||
| Q2 24 | 35.5% | 9.5% |
净利率ADBESWK
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | — | ||
| Q3 25 | 29.6% | 1.4% | ||
| Q2 25 | 28.8% | 2.6% | ||
| Q1 25 | 31.7% | 2.4% | ||
| Q4 24 | 30.0% | 5.2% | ||
| Q3 24 | 31.1% | 2.4% | ||
| Q2 24 | 29.6% | -0.3% |
每股收益（稀释后）ADBESWK
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | — | ||
| Q3 25 | $4.18 | $0.34 | ||
| Q2 25 | $3.94 | $0.67 | ||
| Q1 25 | $4.14 | $0.60 | ||
| Q4 24 | $3.75 | $1.29 | ||
| Q3 24 | $3.76 | $0.60 | ||
| Q2 24 | $3.49 | $-0.07 |
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 | $268.3M |
| 总债务越低越好 | $5.4B | $5.3B |
| 股东权益账面价值 | $11.4B | $9.0B |
| 总资产 | $29.7B | $21.8B |
| 负债/权益比越低杠杆越低 | 0.47× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资ADBESWK
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | — | ||
| Q3 25 | $5.9B | $268.3M | ||
| Q2 25 | $5.7B | $311.8M | ||
| Q1 25 | $7.4B | $344.8M | ||
| Q4 24 | $7.9B | $290.5M | ||
| Q3 24 | $7.5B | $298.7M | ||
| Q2 24 | $8.1B | $318.5M |
总债务ADBESWK
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.2B | $5.3B | ||
| Q2 25 | $6.2B | $5.6B | ||
| Q1 25 | $6.2B | $5.6B | ||
| Q4 24 | $4.1B | $6.1B | ||
| Q3 24 | $4.1B | $6.1B | ||
| Q2 24 | $4.1B | $6.1B |
股东权益ADBESWK
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | — | ||
| Q3 25 | $11.8B | $9.0B | ||
| Q2 25 | $11.4B | $9.1B | ||
| Q1 25 | $13.1B | $8.8B | ||
| Q4 24 | $14.1B | $8.7B | ||
| Q3 24 | $14.5B | $8.9B | ||
| Q2 24 | $14.8B | $8.7B |
总资产ADBESWK
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | — | ||
| Q3 25 | $28.8B | $21.8B | ||
| Q2 25 | $28.1B | $22.5B | ||
| Q1 25 | $30.0B | $22.5B | ||
| Q4 24 | $30.2B | $21.8B | ||
| Q3 24 | $29.8B | $22.5B | ||
| Q2 24 | $30.0B | $22.5B |
负债/权益比ADBESWK
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.53× | 0.59× | ||
| Q2 25 | 0.54× | 0.62× | ||
| Q1 25 | 0.47× | 0.63× | ||
| Q4 24 | 0.29× | 0.70× | ||
| Q3 24 | 0.28× | 0.69× | ||
| Q2 24 | 0.28× | 0.70× |
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 | $221.2M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $155.3M |
| 自由现金流率自由现金流/营收 | 45.7% | 4.1% |
| 资本支出强度资本支出/营收 | 0.6% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.57× | 4.30× |
| 过去12个月自由现金流最近4个季度 | $10.3B | $369.6M |
8季度趋势，按日历期对齐
经营现金流ADBESWK
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $2.2B | $221.2M | ||
| Q2 25 | $2.2B | $214.3M | ||
| Q1 25 | $2.5B | $-420.0M | ||
| Q4 24 | — | $679.1M | ||
| Q3 24 | $2.0B | $285.8M | ||
| Q2 24 | $1.9B | $573.0M |
自由现金流ADBESWK
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | — | ||
| Q3 25 | $2.1B | $155.3M | ||
| Q2 25 | $2.1B | $134.7M | ||
| Q1 25 | $2.5B | $-485.0M | ||
| Q4 24 | — | $564.6M | ||
| Q3 24 | $2.0B | $199.3M | ||
| Q2 24 | $1.9B | $485.8M |
自由现金流率ADBESWK
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | — | ||
| Q3 25 | 35.5% | 4.1% | ||
| Q2 25 | 36.5% | 3.4% | ||
| Q1 25 | 43.0% | -13.0% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | 36.3% | 5.3% | ||
| Q2 24 | 35.8% | 12.1% |
资本支出强度ADBESWK
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 1.2% | 1.8% | ||
| Q2 25 | 0.8% | 2.0% | ||
| Q1 25 | 0.5% | 1.7% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | 1.1% | 2.3% | ||
| Q2 24 | 0.8% | 2.2% |
现金转化率ADBESWK
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | — | ||
| Q3 25 | 1.24× | 4.30× | ||
| Q2 25 | 1.30× | 2.10× | ||
| Q1 25 | 1.37× | -4.65× | ||
| Q4 24 | — | 3.48× | ||
| Q3 24 | 1.20× | 3.14× | ||
| 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% |
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
