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亚德诺半导体（ADI）与Deckers Brands（DECK）财务数据对比。点击上方公司名可切换其他公司
亚德诺半导体的季度营收约是Deckers Brands的1.6倍（$3.2B vs $2.0B），亚德诺半导体净利率更高（26.3% vs 24.6%，领先1.7%），亚德诺半导体同比增速更快（30.4% vs 7.1%），亚德诺半导体自由现金流更多（$1.3B vs $1.0B），过去两年Deckers Brands的营收复合增速更高（42.8% vs 21.0%）
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。
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
ADI vs DECK — 直观对比
营收规模更大
ADI
是对方的1.6倍
$2.0B
营收增速更快
ADI
高出23.3%
7.1%
净利率更高
ADI
高出1.7%
24.6%
自由现金流更多
ADI
多$238.9M
$1.0B
两年增速更快
DECK
近两年复合增速
21.0%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $2.0B |
| 净利润 | $830.8M | $481.1M |
| 毛利率 | 64.7% | 59.8% |
| 营业利润率 | 31.5% | 31.4% |
| 净利率 | 26.3% | 24.6% |
| 营收同比 | 30.4% | 7.1% |
| 净利润同比 | 112.3% | 5.3% |
| 每股收益（稀释后） | $1.69 | $3.33 |
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ADIDECK
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $2.0B | ||
| Q3 25 | $2.9B | $1.4B | ||
| Q2 25 | $2.6B | $964.5M | ||
| Q1 25 | $2.4B | $1.0B | ||
| Q4 24 | $2.4B | $1.8B | ||
| Q3 24 | $2.3B | $1.3B | ||
| Q2 24 | $2.2B | $825.3M |
净利润ADIDECK
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $481.1M | ||
| Q3 25 | $518.5M | $268.2M | ||
| Q2 25 | $569.8M | $139.2M | ||
| Q1 25 | $391.3M | $151.4M | ||
| Q4 24 | $478.1M | $456.7M | ||
| Q3 24 | $392.2M | $242.3M | ||
| Q2 24 | $302.2M | $115.6M |
毛利率ADIDECK
| Q1 26 | 64.7% | — | ||
| Q4 25 | 63.1% | 59.8% | ||
| Q3 25 | 62.1% | 56.2% | ||
| Q2 25 | 61.0% | 55.8% | ||
| Q1 25 | 59.0% | 56.7% | ||
| Q4 24 | 58.0% | 60.3% | ||
| Q3 24 | 56.7% | 55.9% | ||
| Q2 24 | 54.7% | 56.9% |
营业利润率ADIDECK
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 31.4% | ||
| Q3 25 | 28.4% | 22.8% | ||
| Q2 25 | 25.7% | 17.1% | ||
| Q1 25 | 20.3% | 17.0% | ||
| Q4 24 | 23.3% | 31.0% | ||
| Q3 24 | 21.2% | 23.3% | ||
| Q2 24 | 17.9% | 16.1% |
净利率ADIDECK
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | 24.6% | ||
| Q3 25 | 18.0% | 18.7% | ||
| Q2 25 | 21.6% | 14.4% | ||
| Q1 25 | 16.1% | 14.8% | ||
| Q4 24 | 19.6% | 25.0% | ||
| Q3 24 | 17.0% | 18.5% | ||
| Q2 24 | 14.0% | 14.0% |
每股收益（稀释后）ADIDECK
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | $3.33 | ||
| Q3 25 | $1.04 | $1.82 | ||
| Q2 25 | $1.14 | $0.93 | ||
| Q1 25 | $0.78 | $-2.78 | ||
| Q4 24 | $0.95 | $3.00 | ||
| Q3 24 | $0.79 | $1.59 | ||
| Q2 24 | $0.61 | $4.52 |
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 | $2.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $33.8B | $2.6B |
| 总资产 | $48.0B | $4.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ADIDECK
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $2.1B | ||
| Q3 25 | $2.3B | $1.4B | ||
| Q2 25 | $2.4B | $1.7B | ||
| Q1 25 | $2.3B | $1.9B | ||
| Q4 24 | $2.4B | $2.2B | ||
| Q3 24 | $2.1B | $1.2B | ||
| Q2 24 | $2.4B | $1.4B |
股东权益ADIDECK
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $2.6B | ||
| Q3 25 | $34.1B | $2.5B | ||
| Q2 25 | $35.0B | $2.5B | ||
| Q1 25 | $35.1B | $2.5B | ||
| Q4 24 | $35.2B | $2.6B | ||
| Q3 24 | $35.2B | $2.2B | ||
| Q2 24 | $35.2B | $2.1B |
总资产ADIDECK
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $4.1B | ||
| Q3 25 | $48.2B | $3.8B | ||
| Q2 25 | $47.3B | $3.8B | ||
| Q1 25 | $48.0B | $3.6B | ||
| Q4 24 | $48.2B | $4.0B | ||
| Q3 24 | $48.6B | $3.4B | ||
| Q2 24 | $48.9B | $3.3B |
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 | $1.0B |
| 自由现金流率自由现金流/营收 | 39.8% | 52.1% |
| 资本支出强度资本支出/营收 | 3.5% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.65× | 2.17× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $929.1M |
8季度趋势，按日历期对齐
经营现金流ADIDECK
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $1.0B | ||
| Q3 25 | $1.2B | $8.1M | ||
| Q2 25 | $819.5M | $36.1M | ||
| Q1 25 | $1.1B | $-73.0M | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $855.0M | $-90.5M | ||
| Q2 24 | $807.9M | $112.7M |
自由现金流ADIDECK
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $1.1B | $-13.9M | ||
| Q2 25 | $729.2M | $12.2M | ||
| Q1 25 | $977.8M | $-89.4M | ||
| Q4 24 | $885.4M | $1.1B | ||
| Q3 24 | $701.1M | $-113.4M | ||
| Q2 24 | $619.7M | $90.1M |
自由现金流率ADIDECK
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | 52.1% | ||
| Q3 25 | 37.7% | -1.0% | ||
| Q2 25 | 27.6% | 1.3% | ||
| Q1 25 | 40.4% | -8.8% | ||
| Q4 24 | 36.2% | 58.6% | ||
| Q3 24 | 30.3% | -8.6% | ||
| Q2 24 | 28.7% | 10.9% |
资本支出强度ADIDECK
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 1.1% | ||
| Q3 25 | 2.7% | 1.5% | ||
| Q2 25 | 3.4% | 2.5% | ||
| Q1 25 | 6.1% | 1.6% | ||
| Q4 24 | 6.8% | 1.3% | ||
| Q3 24 | 6.7% | 1.7% | ||
| Q2 24 | 8.7% | 2.7% |
现金转化率ADIDECK
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | 2.17× | ||
| Q3 25 | 2.25× | 0.03× | ||
| Q2 25 | 1.44× | 0.26× | ||
| Q1 25 | 2.88× | -0.48× | ||
| Q4 24 | 2.20× | 2.40× | ||
| Q3 24 | 2.18× | -0.37× | ||
| Q2 24 | 2.67× | 0.97× |
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% |
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
