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奥多比（ADBE）与Unity Software Inc.（U）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Unity Software Inc.的12.7倍（$6.4B vs $503.1M）。奥多比净利率更高（29.5% vs -17.9%，领先47.4%）。奥多比同比增速更快（12.0% vs 10.1%）。奥多比自由现金流更多（$2.9B vs $118.7M）。过去两年奥多比的营收复合增速更高（9.8% vs 4.5%）
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。
Unity Software Inc.是总部位于美国旧金山的游戏软件开发企业，2004年于丹麦成立时原名为Over the Edge Entertainment，2007年更为现名。公司核心产品Unity游戏引擎全球应用广泛，可用于开发各类电子游戏及其他互动应用，商业化授权服务覆盖全球客户。
ADBE vs U — 直观对比
营收规模更大
ADBE
是对方的12.7倍
$503.1M
营收增速更快
ADBE
高出1.9%
10.1%
净利率更高
ADBE
高出47.4%
-17.9%
自由现金流更多
ADBE
多$2.8B
$118.7M
两年增速更快
ADBE
近两年复合增速
4.5%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $503.1M |
| 净利润 | $1.9B | $-90.0M |
| 毛利率 | 89.6% | 74.3% |
| 营业利润率 | 37.8% | -21.2% |
| 净利率 | 29.5% | -17.9% |
| 营收同比 | 12.0% | 10.1% |
| 净利润同比 | 4.3% | 26.7% |
| 每股收益（稀释后） | $4.60 | $-0.21 |
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ADBEU
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $503.1M | ||
| Q3 25 | $6.0B | $470.6M | ||
| Q2 25 | $5.9B | $440.9M | ||
| Q1 25 | $5.7B | $435.0M | ||
| Q4 24 | $5.6B | $457.1M | ||
| Q3 24 | $5.4B | $446.5M | ||
| Q2 24 | $5.3B | $449.3M |
净利润ADBEU
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $-90.0M | ||
| Q3 25 | $1.8B | $-126.4M | ||
| Q2 25 | $1.7B | $-108.8M | ||
| Q1 25 | $1.8B | $-77.6M | ||
| Q4 24 | $1.7B | $-122.7M | ||
| Q3 24 | $1.7B | $-124.7M | ||
| Q2 24 | $1.6B | $-125.6M |
毛利率ADBEU
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 74.3% | ||
| Q3 25 | 89.3% | 74.4% | ||
| Q2 25 | 89.1% | 74.1% | ||
| Q1 25 | 89.1% | 73.8% | ||
| Q4 24 | 89.0% | 74.7% | ||
| Q3 24 | 89.8% | 74.9% | ||
| Q2 24 | 88.7% | 75.8% |
营业利润率ADBEU
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | -21.2% | ||
| Q3 25 | 36.3% | -26.7% | ||
| Q2 25 | 35.9% | -26.9% | ||
| Q1 25 | 37.9% | -29.4% | ||
| Q4 24 | 34.9% | -27.1% | ||
| Q3 24 | 36.8% | -28.5% | ||
| Q2 24 | 35.5% | -28.8% |
净利率ADBEU
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | -17.9% | ||
| Q3 25 | 29.6% | -26.9% | ||
| Q2 25 | 28.8% | -24.7% | ||
| Q1 25 | 31.7% | -17.8% | ||
| Q4 24 | 30.0% | -26.8% | ||
| Q3 24 | 31.1% | -27.9% | ||
| Q2 24 | 29.6% | -28.0% |
每股收益（稀释后）ADBEU
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $-0.21 | ||
| Q3 25 | $4.18 | $-0.30 | ||
| Q2 25 | $3.94 | $-0.26 | ||
| Q1 25 | $4.14 | $-0.19 | ||
| Q4 24 | $3.75 | $-0.30 | ||
| Q3 24 | $3.76 | $-0.31 | ||
| Q2 24 | $3.49 | $-0.32 |
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 | $2.1B |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $11.4B | $3.2B |
| 总资产 | $29.7B | $6.8B |
| 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ADBEU
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $2.1B | ||
| Q3 25 | $5.9B | $1.9B | ||
| Q2 25 | $5.7B | $1.7B | ||
| Q1 25 | $7.4B | $1.5B | ||
| Q4 24 | $7.9B | $1.5B | ||
| Q3 24 | $7.5B | $1.4B | ||
| Q2 24 | $8.1B | $1.3B |
总债务ADBEU
| 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ADBEU
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $3.2B | ||
| Q3 25 | $11.8B | $3.2B | ||
| Q2 25 | $11.4B | $3.2B | ||
| Q1 25 | $13.1B | $3.2B | ||
| Q4 24 | $14.1B | $3.2B | ||
| Q3 24 | $14.5B | $3.2B | ||
| Q2 24 | $14.8B | $3.2B |
总资产ADBEU
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $6.8B | ||
| Q3 25 | $28.8B | $6.8B | ||
| Q2 25 | $28.1B | $6.7B | ||
| Q1 25 | $30.0B | $6.6B | ||
| Q4 24 | $30.2B | $6.7B | ||
| Q3 24 | $29.8B | $6.7B | ||
| Q2 24 | $30.0B | $6.7B |
负债/权益比ADBEU
| 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 | $121.4M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $118.7M |
| 自由现金流率自由现金流/营收 | 45.7% | 23.6% |
| 资本支出强度资本支出/营收 | 0.6% | 0.5% |
| 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 | $403.9M |
8季度趋势，按日历期对齐
经营现金流ADBEU
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $121.4M | ||
| Q3 25 | $2.2B | $155.4M | ||
| Q2 25 | $2.2B | $133.1M | ||
| Q1 25 | $2.5B | $13.0M | ||
| Q4 24 | — | $112.2M | ||
| Q3 24 | $2.0B | $122.4M | ||
| Q2 24 | $1.9B | $88.4M |
自由现金流ADBEU
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $118.7M | ||
| Q3 25 | $2.1B | $151.3M | ||
| Q2 25 | $2.1B | $126.7M | ||
| Q1 25 | $2.5B | $7.3M | ||
| Q4 24 | — | $105.8M | ||
| Q3 24 | $2.0B | $115.2M | ||
| Q2 24 | $1.9B | $79.6M |
自由现金流率ADBEU
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 23.6% | ||
| Q3 25 | 35.5% | 32.1% | ||
| Q2 25 | 36.5% | 28.7% | ||
| Q1 25 | 43.0% | 1.7% | ||
| Q4 24 | — | 23.1% | ||
| Q3 24 | 36.3% | 25.8% | ||
| Q2 24 | 35.8% | 17.7% |
资本支出强度ADBEU
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 0.5% | ||
| Q3 25 | 1.2% | 0.9% | ||
| Q2 25 | 0.8% | 1.5% | ||
| Q1 25 | 0.5% | 1.3% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 1.1% | 1.6% | ||
| Q2 24 | 0.8% | 2.0% |
现金转化率ADBEU
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | — | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 1.30× | — | ||
| 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% |
U
| Grow Solutions | $338.2M | 67% |
| Create Solutions | $164.9M | 33% |
