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亚德诺半导体（ADI）与Norfolk Southern（NSC）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Norfolk Southern的1.1倍（$3.2B vs $3.0B），亚德诺半导体净利率更高（26.3% vs 21.7%，领先4.6%），亚德诺半导体同比增速更快（30.4% vs -1.7%），亚德诺半导体自由现金流更多（$1.3B vs $334.0M），过去两年亚德诺半导体的营收复合增速更高（21.0% vs -0.5%）
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。
诺福克南方铁路是美国一级货运铁路运营商，总部位于亚特兰大，1982年由诺福克西部铁路与南方铁路合并组建。公司运营线路总长19420英里（约31250公里），覆盖美国东部22个州及华盛顿哥伦比亚特区，同时拥有加拿大太平洋堪萨斯城铁路奥尔巴尼至蒙特利尔线路的通行使用权。
ADI vs NSC — 直观对比
营收规模更大
ADI
是对方的1.1倍
$3.0B
营收增速更快
ADI
高出32.1%
-1.7%
净利率更高
ADI
高出4.6%
21.7%
自由现金流更多
ADI
多$925.2M
$334.0M
两年增速更快
ADI
近两年复合增速
-0.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $3.0B |
| 净利润 | $830.8M | $644.0M |
| 毛利率 | 64.7% | — |
| 营业利润率 | 31.5% | 31.5% |
| 净利率 | 26.3% | 21.7% |
| 营收同比 | 30.4% | -1.7% |
| 净利润同比 | 112.3% | -12.1% |
| 每股收益（稀释后） | $1.69 | $2.87 |
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ADINSC
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $3.0B | ||
| Q3 25 | $2.9B | $3.1B | ||
| Q2 25 | $2.6B | $3.1B | ||
| Q1 25 | $2.4B | $3.0B | ||
| Q4 24 | $2.4B | $3.0B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | $2.2B | $3.0B |
净利润ADINSC
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $644.0M | ||
| Q3 25 | $518.5M | $711.0M | ||
| Q2 25 | $569.8M | $768.0M | ||
| Q1 25 | $391.3M | $750.0M | ||
| Q4 24 | $478.1M | $733.0M | ||
| Q3 24 | $392.2M | $1.1B | ||
| Q2 24 | $302.2M | $737.0M |
毛利率ADINSC
| 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ADINSC
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 31.5% | ||
| Q3 25 | 28.4% | 35.4% | ||
| Q2 25 | 25.7% | 37.8% | ||
| Q1 25 | 20.3% | 38.3% | ||
| Q4 24 | 23.3% | 37.4% | ||
| Q3 24 | 21.2% | 52.3% | ||
| Q2 24 | 17.9% | 37.2% |
净利率ADINSC
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | 21.7% | ||
| Q3 25 | 18.0% | 22.9% | ||
| Q2 25 | 21.6% | 24.7% | ||
| Q1 25 | 16.1% | 25.1% | ||
| Q4 24 | 19.6% | 24.2% | ||
| Q3 24 | 17.0% | 36.0% | ||
| Q2 24 | 14.0% | 24.2% |
每股收益（稀释后）ADINSC
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | $2.87 | ||
| Q3 25 | $1.04 | $3.16 | ||
| Q2 25 | $1.14 | $3.41 | ||
| Q1 25 | $0.78 | $3.31 | ||
| Q4 24 | $0.95 | $3.24 | ||
| Q3 24 | $0.79 | $4.85 | ||
| Q2 24 | $0.61 | $3.25 |
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 | $1.5B |
| 总债务越低越好 | — | $16.5B |
| 股东权益账面价值 | $33.8B | $15.5B |
| 总资产 | $48.0B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 1.06× |
8季度趋势，按日历期对齐
现金及短期投资ADINSC
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $1.5B | ||
| Q3 25 | $2.3B | $1.4B | ||
| Q2 25 | $2.4B | $1.3B | ||
| Q1 25 | $2.3B | $1.0B | ||
| Q4 24 | $2.4B | $1.6B | ||
| Q3 24 | $2.1B | $975.0M | ||
| Q2 24 | $2.4B | $659.0M |
总债务ADINSC
| Q1 26 | — | — | ||
| Q4 25 | — | $16.5B | ||
| Q3 25 | — | $16.5B | ||
| Q2 25 | — | $16.5B | ||
| Q1 25 | — | $16.7B | ||
| Q4 24 | — | $16.7B | ||
| Q3 24 | — | $16.6B | ||
| Q2 24 | — | $16.9B |
股东权益ADINSC
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $15.5B | ||
| Q3 25 | $34.1B | $15.1B | ||
| Q2 25 | $35.0B | $14.8B | ||
| Q1 25 | $35.1B | $14.5B | ||
| Q4 24 | $35.2B | $14.3B | ||
| Q3 24 | $35.2B | $13.8B | ||
| Q2 24 | $35.2B | $13.0B |
总资产ADINSC
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $45.2B | ||
| Q3 25 | $48.2B | $44.6B | ||
| Q2 25 | $47.3B | $44.2B | ||
| Q1 25 | $48.0B | $43.8B | ||
| Q4 24 | $48.2B | $43.7B | ||
| Q3 24 | $48.6B | $43.3B | ||
| Q2 24 | $48.9B | $42.6B |
负债/权益比ADINSC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.06× | ||
| Q3 25 | — | 1.09× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | 1.16× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | — | 1.30× |
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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $334.0M |
| 自由现金流率自由现金流/营收 | 39.8% | 11.2% |
| 资本支出强度资本支出/营收 | 3.5% | 24.5% |
| 现金转化率经营现金流/净利润 | 1.65× | 1.65× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $2.2B |
8季度趋势，按日历期对齐
经营现金流ADINSC
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $1.1B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $819.5M | $1.1B | ||
| Q1 25 | $1.1B | $950.0M | ||
| Q4 24 | $1.1B | $951.0M | ||
| Q3 24 | $855.0M | $1.2B | ||
| Q2 24 | $807.9M | $1.0B |
自由现金流ADINSC
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $334.0M | ||
| Q3 25 | $1.1B | $720.0M | ||
| Q2 25 | $729.2M | $602.0M | ||
| Q1 25 | $977.8M | $501.0M | ||
| Q4 24 | $885.4M | $276.0M | ||
| Q3 24 | $701.1M | $645.0M | ||
| Q2 24 | $619.7M | $468.0M |
自由现金流率ADINSC
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | 11.2% | ||
| Q3 25 | 37.7% | 23.2% | ||
| Q2 25 | 27.6% | 19.4% | ||
| Q1 25 | 40.4% | 16.7% | ||
| Q4 24 | 36.2% | 9.1% | ||
| Q3 24 | 30.3% | 21.1% | ||
| Q2 24 | 28.7% | 15.4% |
资本支出强度ADINSC
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 24.5% | ||
| Q3 25 | 2.7% | 17.8% | ||
| Q2 25 | 3.4% | 15.3% | ||
| Q1 25 | 6.1% | 15.0% | ||
| Q4 24 | 6.8% | 22.3% | ||
| Q3 24 | 6.7% | 19.0% | ||
| Q2 24 | 8.7% | 18.7% |
现金转化率ADINSC
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | 1.65× | ||
| Q3 25 | 2.25× | 1.79× | ||
| Q2 25 | 1.44× | 1.40× | ||
| Q1 25 | 2.88× | 1.27× | ||
| Q4 24 | 2.20× | 1.30× | ||
| Q3 24 | 2.18× | 1.12× | ||
| Q2 24 | 2.67× | 1.41× |
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% |
NSC
| Railway Operating Revenues Market Group Merchandise | $1.9B | 63% |
| Metals And Construction | $404.0M | 14% |
| Railway Operating Revenues Market Group Coal | $347.0M | 12% |
| Automotive | $293.0M | 10% |
