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亚德诺半导体（ADI）与开利（CARR）财务数据对比。点击上方公司名可切换其他公司
开利的季度营收约是亚德诺半导体的1.5倍（$4.8B vs $3.2B），亚德诺半导体净利率更高（26.3% vs 1.1%，领先25.2%），开利同比增速更快（33.2% vs 30.4%），亚德诺半导体自由现金流更多（$1.3B vs $909.0M），过去两年亚德诺半导体的营收复合增速更高（21.0% vs -11.5%）
亚德诺半导体（ADI）是总部位于美国马萨诸塞州威尔明顿的跨国半导体企业，专注于数据转换、信号处理与电源管理技术研发，相关产品广泛应用于通信、工业、汽车等多个领域，是全球模拟芯片领域的领先厂商。
开利全球是总部位于美国佛罗里达州棕榈滩花园的跨国企业，成立于1915年，主营暖通空调、制冷、消防及安防设备。公司最初以生产销售暖通空调系统起家，后续逐步拓展业务，覆盖商用制冷、餐饮服务设备及消防安防技术等领域。
ADI vs CARR — 直观对比
营收规模更大
CARR
是对方的1.5倍
$3.2B
营收增速更快
CARR
高出2.8%
30.4%
净利率更高
ADI
高出25.2%
1.1%
自由现金流更多
ADI
多$350.2M
$909.0M
两年增速更快
ADI
近两年复合增速
-11.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $4.8B |
| 净利润 | $830.8M | $53.0M |
| 毛利率 | 64.7% | — |
| 营业利润率 | 31.5% | 2.1% |
| 净利率 | 26.3% | 1.1% |
| 营收同比 | 30.4% | 33.2% |
| 净利润同比 | 112.3% | -97.9% |
| 每股收益（稀释后） | $1.69 | $0.07 |
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ADICARR
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $4.8B | ||
| Q3 25 | $2.9B | $5.6B | ||
| Q2 25 | $2.6B | $6.1B | ||
| Q1 25 | $2.4B | $5.2B | ||
| Q4 24 | $2.4B | $3.6B | ||
| Q3 24 | $2.3B | $6.0B | ||
| Q2 24 | $2.2B | $6.7B |
净利润ADICARR
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $53.0M | ||
| Q3 25 | $518.5M | $428.0M | ||
| Q2 25 | $569.8M | $591.0M | ||
| Q1 25 | $391.3M | $412.0M | ||
| Q4 24 | $478.1M | $2.6B | ||
| Q3 24 | $392.2M | $447.0M | ||
| Q2 24 | $302.2M | $2.3B |
毛利率ADICARR
| Q1 26 | 64.7% | — | ||
| Q4 25 | 63.1% | — | ||
| Q3 25 | 62.1% | — | ||
| Q2 25 | 61.0% | — | ||
| Q1 25 | 59.0% | — | ||
| Q4 24 | 58.0% | — | ||
| Q3 24 | 56.7% | — | ||
| Q2 24 | 54.7% | — |
营业利润率ADICARR
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 2.1% | ||
| Q3 25 | 28.4% | 9.7% | ||
| Q2 25 | 25.7% | 14.8% | ||
| Q1 25 | 20.3% | 12.1% | ||
| Q4 24 | 23.3% | -63.6% | ||
| Q3 24 | 21.2% | 12.8% | ||
| Q2 24 | 17.9% | 55.2% |
净利率ADICARR
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | 1.1% | ||
| Q3 25 | 18.0% | 7.7% | ||
| Q2 25 | 21.6% | 9.7% | ||
| Q1 25 | 16.1% | 7.9% | ||
| Q4 24 | 19.6% | 70.3% | ||
| Q3 24 | 17.0% | 7.5% | ||
| Q2 24 | 14.0% | 34.9% |
每股收益（稀释后）ADICARR
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | $0.07 | ||
| Q3 25 | $1.04 | $0.50 | ||
| Q2 25 | $1.14 | $0.68 | ||
| Q1 25 | $0.78 | $0.47 | ||
| Q4 24 | $0.95 | $2.82 | ||
| Q3 24 | $0.79 | $0.49 | ||
| Q2 24 | $0.61 | $2.55 |
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 | $2.9B | $1.6B |
| 总债务越低越好 | — | $11.4B |
| 股东权益账面价值 | $33.8B | $14.1B |
| 总资产 | $48.0B | $37.2B |
| 负债/权益比越低杠杆越低 | — | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资ADICARR
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $1.6B | ||
| Q3 25 | $2.3B | $1.4B | ||
| Q2 25 | $2.4B | $1.8B | ||
| Q1 25 | $2.3B | $1.7B | ||
| Q4 24 | $2.4B | $4.0B | ||
| Q3 24 | $2.1B | $2.2B | ||
| Q2 24 | $2.4B | $2.9B |
总债务ADICARR
| Q1 26 | — | — | ||
| Q4 25 | — | $11.4B | ||
| Q3 25 | — | $11.3B | ||
| Q2 25 | — | $11.3B | ||
| Q1 25 | — | $11.1B | ||
| Q4 24 | — | $11.0B | ||
| Q3 24 | — | $10.3B | ||
| Q2 24 | — | $11.3B |
股东权益ADICARR
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $14.1B | ||
| Q3 25 | $34.1B | $14.8B | ||
| Q2 25 | $35.0B | $15.0B | ||
| Q1 25 | $35.1B | $14.2B | ||
| Q4 24 | $35.2B | $14.4B | ||
| Q3 24 | $35.2B | $15.0B | ||
| Q2 24 | $35.2B | $14.1B |
总资产ADICARR
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $37.2B | ||
| Q3 25 | $48.2B | $38.1B | ||
| Q2 25 | $47.3B | $38.5B | ||
| Q1 25 | $48.0B | $36.4B | ||
| Q4 24 | $48.2B | $37.4B | ||
| Q3 24 | $48.6B | $40.2B | ||
| Q2 24 | $48.9B | $40.4B |
负债/权益比ADICARR
| Q1 26 | — | — | ||
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | 0.76× | ||
| Q2 25 | — | 0.76× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | — | 0.80× |
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 | $1.4B | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $909.0M |
| 自由现金流率自由现金流/营收 | 39.8% | 18.8% |
| 资本支出强度资本支出/营收 | 3.5% | 2.7% |
| 现金转化率经营现金流/净利润 | 1.65× | 19.62× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $2.1B |
8季度趋势，按日历期对齐
经营现金流ADICARR
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $1.0B | ||
| Q3 25 | $1.2B | $341.0M | ||
| Q2 25 | $819.5M | $649.0M | ||
| Q1 25 | $1.1B | $483.0M | ||
| Q4 24 | $1.1B | $132.0M | ||
| Q3 24 | $855.0M | $-269.0M | ||
| Q2 24 | $807.9M | $660.0M |
自由现金流ADICARR
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $909.0M | ||
| Q3 25 | $1.1B | $224.0M | ||
| Q2 25 | $729.2M | $568.0M | ||
| Q1 25 | $977.8M | $420.0M | ||
| Q4 24 | $885.4M | $-85.0M | ||
| Q3 24 | $701.1M | $-356.0M | ||
| Q2 24 | $619.7M | $549.0M |
自由现金流率ADICARR
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | 18.8% | ||
| Q3 25 | 37.7% | 4.0% | ||
| Q2 25 | 27.6% | 9.3% | ||
| Q1 25 | 40.4% | 8.0% | ||
| Q4 24 | 36.2% | -2.3% | ||
| Q3 24 | 30.3% | -5.9% | ||
| Q2 24 | 28.7% | 8.2% |
资本支出强度ADICARR
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 2.7% | ||
| Q3 25 | 2.7% | 2.1% | ||
| Q2 25 | 3.4% | 1.3% | ||
| Q1 25 | 6.1% | 1.2% | ||
| Q4 24 | 6.8% | 6.0% | ||
| Q3 24 | 6.7% | 1.5% | ||
| Q2 24 | 8.7% | 1.7% |
现金转化率ADICARR
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | 19.62× | ||
| Q3 25 | 2.25× | 0.80× | ||
| Q2 25 | 1.44× | 1.10× | ||
| Q1 25 | 2.88× | 1.17× | ||
| Q4 24 | 2.20× | 0.05× | ||
| Q3 24 | 2.18× | -0.60× | ||
| Q2 24 | 2.67× | 0.28× |
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
ADI
| Sales Channel Directly To Consumer | $1.4B | 44% |
| Automotive | $794.4M | 25% |
| Communications | $476.8M | 15% |
| Consumer | $399.8M | 13% |
| Other | $71.3M | 2% |
| Sales Channel Other | $40.8M | 1% |
CARR
| Products | $4.1B | 86% |
| Services | $699.0M | 14% |
