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亚德诺半导体（ADI）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是亚德诺半导体的1.3倍（$4.3B vs $3.2B），亚德诺半导体净利率更高（26.3% vs 17.7%，领先8.6%），亚德诺半导体同比增速更快（30.4% vs 13.3%），亚德诺半导体自由现金流更多（$1.3B vs $116.0M），过去两年亚德诺半导体的营收复合增速更高（21.0% vs 6.9%）
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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
ADI vs RCL — 直观对比
营收规模更大
RCL
是对方的1.3倍
$3.2B
营收增速更快
ADI
高出17.1%
13.3%
净利率更高
ADI
高出8.6%
17.7%
自由现金流更多
ADI
多$1.1B
$116.0M
两年增速更快
ADI
近两年复合增速
6.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $4.3B |
| 净利润 | $830.8M | $753.0M |
| 毛利率 | 64.7% | 47.4% |
| 营业利润率 | 31.5% | 21.9% |
| 净利率 | 26.3% | 17.7% |
| 营收同比 | 30.4% | 13.3% |
| 净利润同比 | 112.3% | 36.4% |
| 每股收益（稀释后） | $1.69 | $2.76 |
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ADIRCL
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $4.3B | ||
| Q3 25 | $2.9B | $5.1B | ||
| Q2 25 | $2.6B | $4.5B | ||
| Q1 25 | $2.4B | $4.0B | ||
| Q4 24 | $2.4B | $3.8B | ||
| Q3 24 | $2.3B | $4.9B | ||
| Q2 24 | $2.2B | $4.1B |
净利润ADIRCL
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $753.0M | ||
| Q3 25 | $518.5M | $1.6B | ||
| Q2 25 | $569.8M | $1.2B | ||
| Q1 25 | $391.3M | $730.0M | ||
| Q4 24 | $478.1M | $552.0M | ||
| Q3 24 | $392.2M | $1.1B | ||
| Q2 24 | $302.2M | $854.0M |
毛利率ADIRCL
| Q1 26 | 64.7% | — | ||
| Q4 25 | 63.1% | 47.4% | ||
| Q3 25 | 62.1% | 51.8% | ||
| Q2 25 | 61.0% | 49.7% | ||
| Q1 25 | 59.0% | 48.0% | ||
| Q4 24 | 58.0% | 45.4% | ||
| Q3 24 | 56.7% | 51.1% | ||
| Q2 24 | 54.7% | 47.6% |
营业利润率ADIRCL
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 21.9% | ||
| Q3 25 | 28.4% | 33.1% | ||
| Q2 25 | 25.7% | 29.3% | ||
| Q1 25 | 20.3% | 23.6% | ||
| Q4 24 | 23.3% | 16.6% | ||
| Q3 24 | 21.2% | 33.4% | ||
| Q2 24 | 17.9% | 26.7% |
净利率ADIRCL
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | 17.7% | ||
| Q3 25 | 18.0% | 30.6% | ||
| Q2 25 | 21.6% | 26.7% | ||
| Q1 25 | 16.1% | 18.3% | ||
| Q4 24 | 19.6% | 14.7% | ||
| Q3 24 | 17.0% | 22.7% | ||
| Q2 24 | 14.0% | 20.8% |
每股收益（稀释后）ADIRCL
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | $2.76 | ||
| Q3 25 | $1.04 | $5.74 | ||
| Q2 25 | $1.14 | $4.41 | ||
| Q1 25 | $0.78 | $2.70 | ||
| Q4 24 | $0.95 | $2.27 | ||
| Q3 24 | $0.79 | $4.21 | ||
| Q2 24 | $0.61 | $3.11 |
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 | $825.0M |
| 总债务越低越好 | — | $18.2B |
| 股东权益账面价值 | $33.8B | $10.0B |
| 总资产 | $48.0B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资ADIRCL
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $825.0M | ||
| Q3 25 | $2.3B | $432.0M | ||
| Q2 25 | $2.4B | $735.0M | ||
| Q1 25 | $2.3B | $386.0M | ||
| Q4 24 | $2.4B | $388.0M | ||
| Q3 24 | $2.1B | $418.0M | ||
| Q2 24 | $2.4B | $391.0M |
总债务ADIRCL
| Q1 26 | — | — | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
股东权益ADIRCL
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $10.0B | ||
| Q3 25 | $34.1B | $10.1B | ||
| Q2 25 | $35.0B | $9.2B | ||
| Q1 25 | $35.1B | $8.0B | ||
| Q4 24 | $35.2B | $7.6B | ||
| Q3 24 | $35.2B | $7.0B | ||
| Q2 24 | $35.2B | $6.0B |
总资产ADIRCL
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $41.6B | ||
| Q3 25 | $48.2B | $40.1B | ||
| Q2 25 | $47.3B | $38.5B | ||
| Q1 25 | $48.0B | $37.5B | ||
| Q4 24 | $48.2B | $37.1B | ||
| Q3 24 | $48.6B | $37.1B | ||
| Q2 24 | $48.9B | $37.0B |
负债/权益比ADIRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $116.0M |
| 自由现金流率自由现金流/营收 | 39.8% | 2.7% |
| 资本支出强度资本支出/营收 | 3.5% | 35.4% |
| 现金转化率经营现金流/净利润 | 1.65× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $1.2B |
8季度趋势，按日历期对齐
经营现金流ADIRCL
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $1.6B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $819.5M | $1.7B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $855.0M | $897.0M | ||
| Q2 24 | $807.9M | $1.6B |
自由现金流ADIRCL
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $116.0M | ||
| Q3 25 | $1.1B | $-989.0M | ||
| Q2 25 | $729.2M | $910.0M | ||
| Q1 25 | $977.8M | $1.2B | ||
| Q4 24 | $885.4M | $915.0M | ||
| Q3 24 | $701.1M | $563.0M | ||
| Q2 24 | $619.7M | $-567.0M |
自由现金流率ADIRCL
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | 2.7% | ||
| Q3 25 | 37.7% | -19.2% | ||
| Q2 25 | 27.6% | 20.1% | ||
| Q1 25 | 40.4% | 30.0% | ||
| Q4 24 | 36.2% | 24.3% | ||
| Q3 24 | 30.3% | 11.5% | ||
| Q2 24 | 28.7% | -13.8% |
资本支出强度ADIRCL
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 35.4% | ||
| Q3 25 | 2.7% | 47.8% | ||
| Q2 25 | 3.4% | 18.4% | ||
| Q1 25 | 6.1% | 10.7% | ||
| Q4 24 | 6.8% | 14.7% | ||
| Q3 24 | 6.7% | 6.8% | ||
| Q2 24 | 8.7% | 52.1% |
现金转化率ADIRCL
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | 2.16× | ||
| Q3 25 | 2.25× | 0.93× | ||
| Q2 25 | 1.44× | 1.44× | ||
| Q1 25 | 2.88× | 2.23× | ||
| Q4 24 | 2.20× | 2.66× | ||
| Q3 24 | 2.18× | 0.81× | ||
| Q2 24 | 2.67× | 1.84× |
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% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
