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奥多比（ADBE）与威世（VSH）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威世的8.0倍（$6.4B vs $800.9M）。奥多比净利率更高（29.5% vs 0.1%，领先29.4%）。威世同比增速更快（12.1% vs 12.0%）。奥多比自由现金流更多（$2.9B vs $54.6M）。过去两年奥多比的营收复合增速更高（9.8% vs 3.6%）
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。
威世（Vishay Intertechnology）是美国知名的分立半导体与被动电子元器件制造商，由企业家菲利克斯·赞德曼创立。公司在以色列、亚洲、欧洲、美洲均设有生产基地，产品覆盖整流器、二极管、MOSFET、光电器件、精选集成电路、电阻器、电容器、电感器等品类，2024年营收达29亿美元，全球全职员工约2.27万人。
ADBE vs VSH — 直观对比
营收规模更大
ADBE
是对方的8.0倍
$800.9M
营收增速更快
VSH
高出0.1%
12.0%
净利率更高
ADBE
高出29.4%
0.1%
自由现金流更多
ADBE
多$2.9B
$54.6M
两年增速更快
ADBE
近两年复合增速
3.6%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $800.9M |
| 净利润 | $1.9B | $986.0K |
| 毛利率 | 89.6% | 19.6% |
| 营业利润率 | 37.8% | 1.8% |
| 净利率 | 29.5% | 0.1% |
| 营收同比 | 12.0% | 12.1% |
| 净利润同比 | 4.3% | 101.5% |
| 每股收益（稀释后） | $4.60 | $0.01 |
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ADBEVSH
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $800.9M | ||
| Q3 25 | $6.0B | $790.6M | ||
| Q2 25 | $5.9B | $762.3M | ||
| Q1 25 | $5.7B | $715.2M | ||
| Q4 24 | $5.6B | $714.7M | ||
| Q3 24 | $5.4B | $735.4M | ||
| Q2 24 | $5.3B | $741.2M |
净利润ADBEVSH
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $986.0K | ||
| Q3 25 | $1.8B | $-7.9M | ||
| Q2 25 | $1.7B | $2.0M | ||
| Q1 25 | $1.8B | $-4.1M | ||
| Q4 24 | $1.7B | $-66.1M | ||
| Q3 24 | $1.7B | $-19.3M | ||
| Q2 24 | $1.6B | $23.5M |
毛利率ADBEVSH
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 19.6% | ||
| Q3 25 | 89.3% | 19.5% | ||
| Q2 25 | 89.1% | 19.5% | ||
| Q1 25 | 89.1% | 19.0% | ||
| Q4 24 | 89.0% | 19.9% | ||
| Q3 24 | 89.8% | 20.5% | ||
| Q2 24 | 88.7% | 22.0% |
营业利润率ADBEVSH
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 1.8% | ||
| Q3 25 | 36.3% | 2.4% | ||
| Q2 25 | 35.9% | 2.9% | ||
| Q1 25 | 37.9% | 0.1% | ||
| Q4 24 | 34.9% | -7.9% | ||
| Q3 24 | 36.8% | -2.5% | ||
| Q2 24 | 35.5% | 5.1% |
净利率ADBEVSH
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | 0.1% | ||
| Q3 25 | 29.6% | -1.0% | ||
| Q2 25 | 28.8% | 0.3% | ||
| Q1 25 | 31.7% | -0.6% | ||
| Q4 24 | 30.0% | -9.2% | ||
| Q3 24 | 31.1% | -2.6% | ||
| Q2 24 | 29.6% | 3.2% |
每股收益（稀释后）ADBEVSH
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $0.01 | ||
| Q3 25 | $4.18 | $-0.06 | ||
| Q2 25 | $3.94 | $0.01 | ||
| Q1 25 | $4.14 | $-0.03 | ||
| Q4 24 | $3.75 | $-0.48 | ||
| Q3 24 | $3.76 | $-0.14 | ||
| Q2 24 | $3.49 | $0.17 |
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 | $515.0M |
| 总债务越低越好 | $5.4B | $950.9M |
| 股东权益账面价值 | $11.4B | $2.1B |
| 总资产 | $29.7B | $4.2B |
| 负债/权益比越低杠杆越低 | 0.47× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资ADBEVSH
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $515.0M | ||
| Q3 25 | $5.9B | $443.9M | ||
| Q2 25 | $5.7B | $473.9M | ||
| Q1 25 | $7.4B | $609.4M | ||
| Q4 24 | $7.9B | $590.3M | ||
| Q3 24 | $7.5B | $643.8M | ||
| Q2 24 | $8.1B | $672.7M |
总债务ADBEVSH
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | $950.9M | ||
| Q3 25 | $6.2B | $919.7M | ||
| Q2 25 | $6.2B | $914.5M | ||
| Q1 25 | $6.2B | $988.2M | ||
| Q4 24 | $4.1B | $905.0M | ||
| Q3 24 | $4.1B | $820.8M | ||
| Q2 24 | $4.1B | $820.6M |
股东权益ADBEVSH
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $2.1B | ||
| Q3 25 | $11.8B | $2.1B | ||
| Q2 25 | $11.4B | $2.1B | ||
| Q1 25 | $13.1B | $2.0B | ||
| Q4 24 | $14.1B | $2.0B | ||
| Q3 24 | $14.5B | $2.2B | ||
| Q2 24 | $14.8B | $2.2B |
总资产ADBEVSH
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $4.2B | ||
| Q3 25 | $28.8B | $4.2B | ||
| Q2 25 | $28.1B | $4.2B | ||
| Q1 25 | $30.0B | $4.2B | ||
| Q4 24 | $30.2B | $4.1B | ||
| Q3 24 | $29.8B | $4.2B | ||
| Q2 24 | $30.0B | $4.2B |
负债/权益比ADBEVSH
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | 0.46× | ||
| Q3 25 | 0.53× | 0.44× | ||
| Q2 25 | 0.54× | 0.44× | ||
| Q1 25 | 0.47× | 0.49× | ||
| Q4 24 | 0.29× | 0.45× | ||
| Q3 24 | 0.28× | 0.38× | ||
| Q2 24 | 0.28× | 0.38× |
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 | $149.4M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $54.6M |
| 自由现金流率自由现金流/营收 | 45.7% | 6.8% |
| 资本支出强度资本支出/营收 | 0.6% | 11.8% |
| 现金转化率经营现金流/净利润 | 1.57× | 151.48× |
| 过去12个月自由现金流最近4个季度 | $10.3B | $-89.0M |
8季度趋势，按日历期对齐
经营现金流ADBEVSH
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $149.4M | ||
| Q3 25 | $2.2B | $27.6M | ||
| Q2 25 | $2.2B | $-8.8M | ||
| Q1 25 | $2.5B | $16.1M | ||
| Q4 24 | — | $67.7M | ||
| Q3 24 | $2.0B | $50.6M | ||
| Q2 24 | $1.9B | $-24.7M |
自由现金流ADBEVSH
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $54.6M | ||
| Q3 25 | $2.1B | $-24.7M | ||
| Q2 25 | $2.1B | $-73.4M | ||
| Q1 25 | $2.5B | $-45.5M | ||
| Q4 24 | — | $-77.2M | ||
| Q3 24 | $2.0B | $-9.0M | ||
| Q2 24 | $1.9B | $-87.3M |
自由现金流率ADBEVSH
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 6.8% | ||
| Q3 25 | 35.5% | -3.1% | ||
| Q2 25 | 36.5% | -9.6% | ||
| Q1 25 | 43.0% | -6.4% | ||
| Q4 24 | — | -10.8% | ||
| Q3 24 | 36.3% | -1.2% | ||
| Q2 24 | 35.8% | -11.8% |
资本支出强度ADBEVSH
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 11.8% | ||
| Q3 25 | 1.2% | 6.6% | ||
| Q2 25 | 0.8% | 8.5% | ||
| Q1 25 | 0.5% | 8.6% | ||
| Q4 24 | — | 20.3% | ||
| Q3 24 | 1.1% | 8.1% | ||
| Q2 24 | 0.8% | 8.4% |
现金转化率ADBEVSH
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | 151.48× | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 1.30× | -4.39× | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.23× | -1.05× |
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% |
VSH
| Resistors Segment | $189.4M | 24% |
| Diodes Segment | $154.2M | 19% |
| Capacitors Segment | $136.5M | 17% |
| Other | $126.4M | 16% |
| Inductors Segment | $92.6M | 12% |
| Optoelectronic Components Segment | $55.7M | 7% |
| EMS Companies | $51.6M | 6% |
