vs
亚德诺半导体（ADI）与托尔工业（THO）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托尔工业的1.3倍（$3.2B vs $2.4B），亚德诺半导体净利率更高（26.3% vs 0.9%，领先25.4%），亚德诺半导体同比增速更快（30.4% vs 11.5%），亚德诺半导体自由现金流更多（$1.3B vs $-74.8M），过去两年亚德诺半导体的营收复合增速更高（21.0% vs 4.0%）
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。
托尔工业是美国知名休闲房车（RV）生产商，旗下拥有Airstream、Heartland RV、Jayco等多个子品牌，主营拖挂式及自行式休闲房车的生产销售，总部位于印第安纳州埃尔克哈特，在密歇根、俄亥俄、爱达荷、俄勒冈等多个州设有生产基地。
ADI vs THO — 直观对比
营收规模更大
ADI
是对方的1.3倍
$2.4B
营收增速更快
ADI
高出18.9%
11.5%
净利率更高
ADI
高出25.4%
0.9%
自由现金流更多
ADI
多$1.3B
$-74.8M
两年增速更快
ADI
近两年复合增速
4.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $2.4B |
| 净利润 | $830.8M | $21.7M |
| 毛利率 | 64.7% | 13.4% |
| 营业利润率 | 31.5% | 1.4% |
| 净利率 | 26.3% | 0.9% |
| 营收同比 | 30.4% | 11.5% |
| 净利润同比 | 112.3% | 1282.8% |
| 每股收益（稀释后） | $1.69 | $0.41 |
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ADITHO
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $2.4B | ||
| Q3 25 | $2.9B | $2.5B | ||
| Q2 25 | $2.6B | $2.9B | ||
| Q1 25 | $2.4B | $2.0B | ||
| Q4 24 | $2.4B | $2.1B | ||
| Q3 24 | $2.3B | $2.5B | ||
| Q2 24 | $2.2B | $2.8B |
净利润ADITHO
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $21.7M | ||
| Q3 25 | $518.5M | $125.8M | ||
| Q2 25 | $569.8M | $135.2M | ||
| Q1 25 | $391.3M | $-551.0K | ||
| Q4 24 | $478.1M | $-1.8M | ||
| Q3 24 | $392.2M | $90.0M | ||
| Q2 24 | $302.2M | $114.5M |
毛利率ADITHO
| Q1 26 | 64.7% | — | ||
| Q4 25 | 63.1% | 13.4% | ||
| Q3 25 | 62.1% | 14.7% | ||
| Q2 25 | 61.0% | 15.3% | ||
| Q1 25 | 59.0% | 12.1% | ||
| Q4 24 | 58.0% | 13.1% | ||
| Q3 24 | 56.7% | 15.8% | ||
| Q2 24 | 54.7% | 15.1% |
营业利润率ADITHO
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 1.4% | ||
| Q3 25 | 28.4% | 5.7% | ||
| Q2 25 | 25.7% | 5.4% | ||
| Q1 25 | 20.3% | -0.1% | ||
| Q4 24 | 23.3% | -0.1% | ||
| Q3 24 | 21.2% | 5.0% | ||
| Q2 24 | 17.9% | 5.1% |
净利率ADITHO
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | 0.9% | ||
| Q3 25 | 18.0% | 5.0% | ||
| Q2 25 | 21.6% | 4.7% | ||
| Q1 25 | 16.1% | -0.0% | ||
| Q4 24 | 19.6% | -0.1% | ||
| Q3 24 | 17.0% | 3.6% | ||
| Q2 24 | 14.0% | 4.1% |
每股收益（稀释后）ADITHO
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | $0.41 | ||
| Q3 25 | $1.04 | $2.35 | ||
| Q2 25 | $1.14 | $2.53 | ||
| Q1 25 | $0.78 | $-0.01 | ||
| Q4 24 | $0.95 | $-0.03 | ||
| Q3 24 | $0.79 | $1.69 | ||
| Q2 24 | $0.61 | $2.13 |
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 | $509.9M |
| 总债务越低越好 | — | $916.0M |
| 股东权益账面价值 | $33.8B | $4.3B |
| 总资产 | $48.0B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资ADITHO
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $509.9M | ||
| Q3 25 | $2.3B | $586.6M | ||
| Q2 25 | $2.4B | $508.3M | ||
| Q1 25 | $2.3B | $373.8M | ||
| Q4 24 | $2.4B | $445.2M | ||
| Q3 24 | $2.1B | $501.3M | ||
| Q2 24 | $2.4B | $371.8M |
总债务ADITHO
| Q1 26 | — | — | ||
| Q4 25 | — | $916.0M | ||
| Q3 25 | — | $923.0M | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B |
股东权益ADITHO
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $4.3B | ||
| Q3 25 | $34.1B | $4.3B | ||
| Q2 25 | $35.0B | $4.2B | ||
| Q1 25 | $35.1B | $4.0B | ||
| Q4 24 | $35.2B | $4.1B | ||
| Q3 24 | $35.2B | $4.1B | ||
| Q2 24 | $35.2B | $4.0B |
总资产ADITHO
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $7.0B | ||
| Q3 25 | $48.2B | $7.1B | ||
| Q2 25 | $47.3B | $7.2B | ||
| Q1 25 | $48.0B | $6.7B | ||
| Q4 24 | $48.2B | $6.9B | ||
| Q3 24 | $48.6B | $7.0B | ||
| Q2 24 | $48.9B | $7.2B |
负债/权益比ADITHO
| Q1 26 | — | — | ||
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 0.28× | ||
| Q2 24 | — | 0.31× |
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 | $-44.9M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $-74.8M |
| 自由现金流率自由现金流/营收 | 39.8% | -3.1% |
| 资本支出强度资本支出/营收 | 3.5% | 1.3% |
| 现金转化率经营现金流/净利润 | 1.65× | -2.07× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $375.1M |
8季度趋势，按日历期对齐
经营现金流ADITHO
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $-44.9M | ||
| Q3 25 | $1.2B | $258.7M | ||
| Q2 25 | $819.5M | $257.7M | ||
| Q1 25 | $1.1B | $30.8M | ||
| Q4 24 | $1.1B | $30.7M | ||
| Q3 24 | $855.0M | $338.0M | ||
| Q2 24 | $807.9M | $251.7M |
自由现金流ADITHO
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $-74.8M | ||
| Q3 25 | $1.1B | $221.6M | ||
| Q2 25 | $729.2M | $222.5M | ||
| Q1 25 | $977.8M | $5.8M | ||
| Q4 24 | $885.4M | $6.4M | ||
| Q3 24 | $701.1M | $301.3M | ||
| Q2 24 | $619.7M | $225.4M |
自由现金流率ADITHO
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | -3.1% | ||
| Q3 25 | 37.7% | 8.8% | ||
| Q2 25 | 27.6% | 7.7% | ||
| Q1 25 | 40.4% | 0.3% | ||
| Q4 24 | 36.2% | 0.3% | ||
| Q3 24 | 30.3% | 11.9% | ||
| Q2 24 | 28.7% | 8.0% |
资本支出强度ADITHO
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 1.3% | ||
| Q3 25 | 2.7% | 1.5% | ||
| Q2 25 | 3.4% | 1.2% | ||
| Q1 25 | 6.1% | 1.2% | ||
| Q4 24 | 6.8% | 1.1% | ||
| Q3 24 | 6.7% | 1.4% | ||
| Q2 24 | 8.7% | 0.9% |
现金转化率ADITHO
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | -2.07× | ||
| Q3 25 | 2.25× | 2.06× | ||
| Q2 25 | 1.44× | 1.91× | ||
| Q1 25 | 2.88× | — | ||
| Q4 24 | 2.20× | — | ||
| Q3 24 | 2.18× | 3.76× | ||
| Q2 24 | 2.67× | 2.20× |
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% |
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
