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亚德诺半导体（ADI）与Constellation Brands（STZ）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Constellation Brands的1.4倍（$3.2B vs $2.2B），亚德诺半导体净利率更高（26.3% vs 22.6%，领先3.7%），亚德诺半导体同比增速更快（30.4% vs -9.8%），亚德诺半导体自由现金流更多（$1.3B vs $370.9M），过去两年亚德诺半导体的营收复合增速更高（21.0% vs 1.9%）
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。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
ADI vs STZ — 直观对比
营收规模更大
ADI
是对方的1.4倍
$2.2B
营收增速更快
ADI
高出40.2%
-9.8%
净利率更高
ADI
高出3.7%
22.6%
自由现金流更多
ADI
多$888.3M
$370.9M
两年增速更快
ADI
近两年复合增速
1.9%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $2.2B |
| 净利润 | $830.8M | $502.8M |
| 毛利率 | 64.7% | 53.2% |
| 营业利润率 | 31.5% | 31.1% |
| 净利率 | 26.3% | 22.6% |
| 营收同比 | 30.4% | -9.8% |
| 净利润同比 | 112.3% | -18.4% |
| 每股收益（稀释后） | $1.69 | — |
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ADISTZ
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $2.2B | ||
| Q3 25 | $2.9B | $2.5B | ||
| Q2 25 | $2.6B | $2.5B | ||
| Q1 25 | $2.4B | $2.2B | ||
| Q4 24 | $2.4B | $2.5B | ||
| Q3 24 | $2.3B | $2.9B | ||
| Q2 24 | $2.2B | $2.7B |
净利润ADISTZ
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $502.8M | ||
| Q3 25 | $518.5M | $466.0M | ||
| Q2 25 | $569.8M | $516.1M | ||
| Q1 25 | $391.3M | $-375.3M | ||
| Q4 24 | $478.1M | $615.9M | ||
| Q3 24 | $392.2M | $-1.2B | ||
| Q2 24 | $302.2M | $877.0M |
毛利率ADISTZ
| Q1 26 | 64.7% | — | ||
| Q4 25 | 63.1% | 53.2% | ||
| Q3 25 | 62.1% | 52.8% | ||
| Q2 25 | 61.0% | 50.4% | ||
| Q1 25 | 59.0% | 51.5% | ||
| Q4 24 | 58.0% | 52.1% | ||
| Q3 24 | 56.7% | 51.8% | ||
| Q2 24 | 54.7% | 52.7% |
营业利润率ADISTZ
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 31.1% | ||
| Q3 25 | 28.4% | 35.2% | ||
| Q2 25 | 25.7% | 28.4% | ||
| Q1 25 | 20.3% | -6.9% | ||
| Q4 24 | 23.3% | 32.2% | ||
| Q3 24 | 21.2% | -42.1% | ||
| Q2 24 | 17.9% | 35.4% |
净利率ADISTZ
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | 22.6% | ||
| Q3 25 | 18.0% | 18.8% | ||
| Q2 25 | 21.6% | 20.5% | ||
| Q1 25 | 16.1% | -17.3% | ||
| Q4 24 | 19.6% | 25.0% | ||
| Q3 24 | 17.0% | -41.1% | ||
| Q2 24 | 14.0% | 32.9% |
每股收益（稀释后）ADISTZ
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | — | ||
| Q3 25 | $1.04 | — | ||
| Q2 25 | $1.14 | — | ||
| Q1 25 | $0.78 | — | ||
| Q4 24 | $0.95 | — | ||
| Q3 24 | $0.79 | — | ||
| Q2 24 | $0.61 | — |
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 | $152.4M |
| 总债务越低越好 | — | $10.3B |
| 股东权益账面价值 | $33.8B | $7.7B |
| 总资产 | $48.0B | $21.7B |
| 负债/权益比越低杠杆越低 | — | 1.33× |
8季度趋势，按日历期对齐
现金及短期投资ADISTZ
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $152.4M | ||
| Q3 25 | $2.3B | $72.0M | ||
| Q2 25 | $2.4B | $73.9M | ||
| Q1 25 | $2.3B | $68.1M | ||
| Q4 24 | $2.4B | $73.7M | ||
| Q3 24 | $2.1B | $64.6M | ||
| Q2 24 | $2.4B | $73.8M |
总债务ADISTZ
| Q1 26 | — | — | ||
| Q4 25 | — | $10.3B | ||
| Q3 25 | — | $10.3B | ||
| Q2 25 | — | $11.2B | ||
| Q1 25 | — | $10.7B | ||
| Q4 24 | — | $10.7B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $11.1B |
股东权益ADISTZ
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $7.7B | ||
| Q3 25 | $34.1B | $7.5B | ||
| Q2 25 | $35.0B | $7.3B | ||
| Q1 25 | $35.1B | $6.9B | ||
| Q4 24 | $35.2B | $7.8B | ||
| Q3 24 | $35.2B | $7.9B | ||
| Q2 24 | $35.2B | $10.3B |
总资产ADISTZ
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $21.7B | ||
| Q3 25 | $48.2B | $21.4B | ||
| Q2 25 | $47.3B | $22.3B | ||
| Q1 25 | $48.0B | $21.7B | ||
| Q4 24 | $48.2B | $22.8B | ||
| Q3 24 | $48.6B | $23.1B | ||
| Q2 24 | $48.9B | $26.1B |
负债/权益比ADISTZ
| Q1 26 | — | — | ||
| Q4 25 | — | 1.33× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.54× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.08× |
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 | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $370.9M |
| 自由现金流率自由现金流/营收 | 39.8% | 16.7% |
| 资本支出强度资本支出/营收 | 3.5% | 11.1% |
| 现金转化率经营现金流/净利润 | 1.65× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $1.8B |
8季度趋势，按日历期对齐
经营现金流ADISTZ
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $616.9M | ||
| Q3 25 | $1.2B | $852.1M | ||
| Q2 25 | $819.5M | $637.2M | ||
| Q1 25 | $1.1B | $594.7M | ||
| Q4 24 | $1.1B | $685.2M | ||
| Q3 24 | $855.0M | $1.2B | ||
| Q2 24 | $807.9M | $690.5M |
自由现金流ADISTZ
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $370.9M | ||
| Q3 25 | $1.1B | $634.8M | ||
| Q2 25 | $729.2M | $444.4M | ||
| Q1 25 | $977.8M | $312.1M | ||
| Q4 24 | $885.4M | $456.8M | ||
| Q3 24 | $701.1M | $854.0M | ||
| Q2 24 | $619.7M | $315.2M |
自由现金流率ADISTZ
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | 16.7% | ||
| Q3 25 | 37.7% | 25.6% | ||
| Q2 25 | 27.6% | 17.7% | ||
| Q1 25 | 40.4% | 14.4% | ||
| Q4 24 | 36.2% | 18.5% | ||
| Q3 24 | 30.3% | 29.3% | ||
| Q2 24 | 28.7% | 11.8% |
资本支出强度ADISTZ
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 11.1% | ||
| Q3 25 | 2.7% | 8.8% | ||
| Q2 25 | 3.4% | 7.7% | ||
| Q1 25 | 6.1% | 13.1% | ||
| Q4 24 | 6.8% | 9.3% | ||
| Q3 24 | 6.7% | 11.2% | ||
| Q2 24 | 8.7% | 14.1% |
现金转化率ADISTZ
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | 1.23× | ||
| Q3 25 | 2.25× | 1.83× | ||
| Q2 25 | 1.44× | 1.23× | ||
| Q1 25 | 2.88× | — | ||
| Q4 24 | 2.20× | 1.11× | ||
| Q3 24 | 2.18× | — | ||
| Q2 24 | 2.67× | 0.79× |
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% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
