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亚德诺半导体（ADI）与Solventum（SOLV）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Solventum的1.6倍（$3.2B vs $2.0B），亚德诺半导体净利率更高（26.3% vs 3.2%，领先23.1%），亚德诺半导体同比增速更快（30.4% vs -3.7%），亚德诺半导体自由现金流更多（$1.3B vs $32.0M），过去两年亚德诺半导体的营收复合增速更高（21.0% vs -0.4%）
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。
Solventum是一家总部位于美国的医疗健康企业，于2024年4月1日正式从全球知名多元化工业集团3M分拆后独立运营，继承了原3M旗下医疗板块的技术积累与业务资源，面向全球市场提供专业医疗相关产品及服务。
ADI vs SOLV — 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34.1%
-3.7%
净利率更高
ADI
高出23.1%
3.2%
自由现金流更多
ADI
多$1.2B
$32.0M
两年增速更快
ADI
近两年复合增速
-0.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $2.0B |
| 净利润 | $830.8M | $63.0M |
| 毛利率 | 64.7% | 51.4% |
| 营业利润率 | 31.5% | 6.3% |
| 净利率 | 26.3% | 3.2% |
| 营收同比 | 30.4% | -3.7% |
| 净利润同比 | 112.3% | 103.2% |
| 每股收益（稀释后） | $1.69 | $0.37 |
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ADISOLV
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $2.0B | ||
| Q3 25 | $2.9B | $2.1B | ||
| Q2 25 | $2.6B | $2.2B | ||
| Q1 25 | $2.4B | $2.1B | ||
| Q4 24 | $2.4B | $2.1B | ||
| Q3 24 | $2.3B | $2.1B | ||
| Q2 24 | $2.2B | $2.1B |
净利润ADISOLV
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $63.0M | ||
| Q3 25 | $518.5M | $1.3B | ||
| Q2 25 | $569.8M | $90.0M | ||
| Q1 25 | $391.3M | $137.0M | ||
| Q4 24 | $478.1M | $31.0M | ||
| Q3 24 | $392.2M | $122.0M | ||
| Q2 24 | $302.2M | $89.0M |
毛利率ADISOLV
| Q1 26 | 64.7% | — | ||
| Q4 25 | 63.1% | 51.4% | ||
| Q3 25 | 62.1% | 54.2% | ||
| Q2 25 | 61.0% | 54.4% | ||
| Q1 25 | 59.0% | 53.8% | ||
| Q4 24 | 58.0% | 53.9% | ||
| Q3 24 | 56.7% | 56.0% | ||
| Q2 24 | 54.7% | 54.6% |
营业利润率ADISOLV
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 6.3% | ||
| Q3 25 | 28.4% | 80.6% | ||
| Q2 25 | 25.7% | 9.9% | ||
| Q1 25 | 20.3% | 7.3% | ||
| Q4 24 | 23.3% | 6.6% | ||
| Q3 24 | 21.2% | 13.2% | ||
| Q2 24 | 17.9% | 11.7% |
净利率ADISOLV
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | 3.2% | ||
| Q3 25 | 18.0% | 60.4% | ||
| Q2 25 | 21.6% | 4.2% | ||
| Q1 25 | 16.1% | 6.6% | ||
| Q4 24 | 19.6% | 1.5% | ||
| Q3 24 | 17.0% | 5.9% | ||
| Q2 24 | 14.0% | 4.3% |
每股收益（稀释后）ADISOLV
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | $0.37 | ||
| Q3 25 | $1.04 | $7.22 | ||
| Q2 25 | $1.14 | $0.51 | ||
| Q1 25 | $0.78 | $0.78 | ||
| Q4 24 | $0.95 | $0.18 | ||
| Q3 24 | $0.79 | $0.70 | ||
| Q2 24 | $0.61 | $0.51 |
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 | $878.0M |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | $33.8B | $5.0B |
| 总资产 | $48.0B | $14.3B |
| 负债/权益比越低杠杆越低 | — | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资ADISOLV
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $878.0M | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $2.4B | $492.0M | ||
| Q1 25 | $2.3B | $534.0M | ||
| Q4 24 | $2.4B | $762.0M | ||
| Q3 24 | $2.1B | $772.0M | ||
| Q2 24 | $2.4B | $897.0M |
总债务ADISOLV
| Q1 26 | — | — | ||
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $7.9B | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | — | $8.1B | ||
| Q2 24 | — | $8.3B |
股东权益ADISOLV
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $5.0B | ||
| Q3 25 | $34.1B | $5.0B | ||
| Q2 25 | $35.0B | $3.6B | ||
| Q1 25 | $35.1B | $3.3B | ||
| Q4 24 | $35.2B | $3.0B | ||
| Q3 24 | $35.2B | $3.2B | ||
| Q2 24 | $35.2B | $2.9B |
总资产ADISOLV
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $14.3B | ||
| Q3 25 | $48.2B | $14.0B | ||
| Q2 25 | $47.3B | $15.1B | ||
| Q1 25 | $48.0B | $14.5B | ||
| Q4 24 | $48.2B | $14.5B | ||
| Q3 24 | $48.6B | $14.7B | ||
| Q2 24 | $48.9B | $14.6B |
负债/权益比ADISOLV
| Q1 26 | — | — | ||
| Q4 25 | — | 1.00× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 2.43× | ||
| Q4 24 | — | 2.71× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 2.90× |
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 | $95.0M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $32.0M |
| 自由现金流率自由现金流/营收 | 39.8% | 1.6% |
| 资本支出强度资本支出/营收 | 3.5% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.65× | 1.51× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $-10.0M |
8季度趋势，按日历期对齐
经营现金流ADISOLV
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $95.0M | ||
| Q3 25 | $1.2B | $76.0M | ||
| Q2 25 | $819.5M | $169.0M | ||
| Q1 25 | $1.1B | $29.0M | ||
| Q4 24 | $1.1B | $219.0M | ||
| Q3 24 | $855.0M | $169.0M | ||
| Q2 24 | $807.9M | $355.0M |
自由现金流ADISOLV
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $32.0M | ||
| Q3 25 | $1.1B | $-21.0M | ||
| Q2 25 | $729.2M | $59.0M | ||
| Q1 25 | $977.8M | $-80.0M | ||
| Q4 24 | $885.4M | $92.0M | ||
| Q3 24 | $701.1M | $76.0M | ||
| Q2 24 | $619.7M | $297.0M |
自由现金流率ADISOLV
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | 1.6% | ||
| Q3 25 | 37.7% | -1.0% | ||
| Q2 25 | 27.6% | 2.7% | ||
| Q1 25 | 40.4% | -3.9% | ||
| Q4 24 | 36.2% | 4.4% | ||
| Q3 24 | 30.3% | 3.7% | ||
| Q2 24 | 28.7% | 14.3% |
资本支出强度ADISOLV
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 3.2% | ||
| Q3 25 | 2.7% | 4.6% | ||
| Q2 25 | 3.4% | 5.1% | ||
| Q1 25 | 6.1% | 5.3% | ||
| Q4 24 | 6.8% | 6.1% | ||
| Q3 24 | 6.7% | 4.5% | ||
| Q2 24 | 8.7% | 2.8% |
现金转化率ADISOLV
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | 1.51× | ||
| Q3 25 | 2.25× | 0.06× | ||
| Q2 25 | 1.44× | 1.88× | ||
| Q1 25 | 2.88× | 0.21× | ||
| Q4 24 | 2.20× | 7.06× | ||
| Q3 24 | 2.18× | 1.39× | ||
| Q2 24 | 2.67× | 3.99× |
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% |
SOLV
| Infection Prevention And Surgical Solutions | $752.0M | 38% |
| Cost Of Software And Rentals | $508.0M | 25% |
| Health Information Systems Segment | $347.0M | 17% |
| Dental Solutions Segment | $343.0M | 17% |
| Related Party | $14.0M | 1% |
