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欧特克（ADSK）与WATSCO INC（WSO）财务数据对比。点击上方公司名可切换其他公司
欧特克的季度营收约是WATSCO INC的1.2倍（$2.0B vs $1.6B），欧特克净利率更高（16.1% vs 4.5%，领先11.6%），欧特克同比增速更快（19.4% vs -10.0%），欧特克自由现金流更多（$972.0M vs $388.5M），过去两年欧特克的营收复合增速更高（17.5% vs 0.4%）
欧特克是美国跨国软件企业，总部位于加利福尼亚州旧金山，在全球各地设有办事处，美国境内亦于俄勒冈、科罗拉多、得克萨斯、密歇根等多州布局办公网点，为建筑、工程、施工、制造、传媒、教育、娱乐等多领域客户提供专业软件产品及配套服务。
Watsco Inc.是美国暖通空调、供暖及制冷（HVAC/R）设备及相关零部件、耗材的专业分销商。公司成立至今已超60年，最初主营HVAC/R行业相关零部件、工具制造业务，1989年通过收购佛罗里达州南部的瑞姆品牌分销商Gemaire Distributors Inc，正式从制造赛道转向分销领域。
ADSK vs WSO — 直观对比
营收规模更大
ADSK
是对方的1.2倍
$1.6B
营收增速更快
ADSK
高出29.4%
-10.0%
净利率更高
ADSK
高出11.6%
4.5%
自由现金流更多
ADSK
多$583.5M
$388.5M
两年增速更快
ADSK
近两年复合增速
0.4%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.6B |
| 净利润 | $316.0M | $71.7M |
| 毛利率 | 91.5% | 27.1% |
| 营业利润率 | 22.0% | 6.4% |
| 净利率 | 16.1% | 4.5% |
| 营收同比 | 19.4% | -10.0% |
| 净利润同比 | 4.3% | -25.9% |
| 每股收益（稀释后） | $1.47 | $1.82 |
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ADSKWSO
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.9B | $1.6B | ||
| Q3 25 | $1.8B | $2.1B | ||
| Q2 25 | $1.6B | $2.1B | ||
| Q1 25 | $1.6B | $1.5B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.4B | $2.1B |
净利润ADSKWSO
| Q1 26 | $316.0M | — | ||
| Q4 25 | $343.0M | $71.7M | ||
| Q3 25 | $313.0M | $161.6M | ||
| Q2 25 | $152.0M | $183.6M | ||
| Q1 25 | $303.0M | $80.1M | ||
| Q4 24 | $275.0M | $96.8M | ||
| Q3 24 | $282.0M | $171.0M | ||
| Q2 24 | $252.0M | $181.4M |
毛利率ADSKWSO
| Q1 26 | 91.5% | — | ||
| Q4 25 | 91.1% | 27.1% | ||
| Q3 25 | 91.0% | 27.5% | ||
| Q2 25 | 90.2% | 29.3% | ||
| Q1 25 | 90.6% | 28.1% | ||
| Q4 24 | 90.6% | 26.7% | ||
| Q3 24 | 90.7% | 26.2% | ||
| Q2 24 | 90.3% | 27.1% |
营业利润率ADSKWSO
| Q1 26 | 22.0% | — | ||
| Q4 25 | 25.4% | 6.4% | ||
| Q3 25 | 25.2% | 11.4% | ||
| Q2 25 | 14.3% | 13.2% | ||
| Q1 25 | 22.3% | 7.3% | ||
| Q4 24 | 22.0% | 7.8% | ||
| Q3 24 | 22.8% | 11.6% | ||
| Q2 24 | 21.1% | 12.6% |
净利率ADSKWSO
| Q1 26 | 16.1% | — | ||
| Q4 25 | 18.5% | 4.5% | ||
| Q3 25 | 17.8% | 7.8% | ||
| Q2 25 | 9.3% | 8.9% | ||
| Q1 25 | 18.5% | 5.2% | ||
| Q4 24 | 17.5% | 5.5% | ||
| Q3 24 | 18.7% | 7.9% | ||
| Q2 24 | 17.8% | 8.5% |
每股收益（稀释后）ADSKWSO
| Q1 26 | $1.47 | — | ||
| Q4 25 | $1.60 | $1.82 | ||
| Q3 25 | $1.46 | $3.98 | ||
| Q2 25 | $0.70 | $4.52 | ||
| Q1 25 | $1.39 | $1.93 | ||
| Q4 24 | $1.27 | $2.42 | ||
| Q3 24 | $1.30 | $4.22 | ||
| Q2 24 | $1.16 | $4.49 |
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 | $2.6B | $733.3M |
| 总债务越低越好 | $2.5B | $361.6M |
| 股东权益账面价值 | $3.0B | $2.8B |
| 总资产 | $12.5B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.82× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资ADSKWSO
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.3B | $733.3M | ||
| Q3 25 | $2.2B | $524.3M | ||
| Q2 25 | $2.0B | $293.0M | ||
| Q1 25 | $1.9B | $431.8M | ||
| Q4 24 | $1.7B | $781.9M | ||
| Q3 24 | $1.9B | $550.0M | ||
| Q2 24 | $2.0B | $424.9M |
总债务ADSKWSO
| Q1 26 | $2.5B | — | ||
| Q4 25 | $2.5B | $361.6M | ||
| Q3 25 | $2.5B | $340.8M | ||
| Q2 25 | $2.3B | $338.7M | ||
| Q1 25 | $2.3B | $346.4M | ||
| Q4 24 | $2.3B | $337.2M | ||
| Q3 24 | $2.3B | $321.0M | ||
| Q2 24 | $2.3B | $307.1M |
股东权益ADSKWSO
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $2.8B | ||
| Q3 25 | $2.7B | $2.8B | ||
| Q2 25 | $2.6B | $2.8B | ||
| Q1 25 | $2.6B | $2.7B | ||
| Q4 24 | $2.6B | $2.7B | ||
| Q3 24 | $2.5B | $2.7B | ||
| Q2 24 | $2.2B | $2.6B |
总资产ADSKWSO
| Q1 26 | $12.5B | — | ||
| Q4 25 | $11.2B | $4.4B | ||
| Q3 25 | $10.9B | $4.6B | ||
| Q2 25 | $10.6B | $4.7B | ||
| Q1 25 | $10.8B | $4.5B | ||
| Q4 24 | $10.1B | $4.5B | ||
| Q3 24 | $10.0B | $4.5B | ||
| Q2 24 | $9.8B | $4.4B |
负债/权益比ADSKWSO
| Q1 26 | 0.82× | — | ||
| Q4 25 | 0.86× | 0.13× | ||
| Q3 25 | 0.92× | 0.12× | ||
| Q2 25 | 0.88× | 0.12× | ||
| Q1 25 | 0.88× | 0.13× | ||
| Q4 24 | 0.88× | 0.13× | ||
| Q3 24 | 0.93× | 0.12× | ||
| Q2 24 | 1.06× | 0.12× |
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 | $989.0M | $399.8M |
| 自由现金流经营现金流 - 资本支出 | $972.0M | $388.5M |
| 自由现金流率自由现金流/营收 | 49.7% | 24.6% |
| 资本支出强度资本支出/营收 | 0.9% | 0.7% |
| 现金转化率经营现金流/净利润 | 3.13× | 5.57× |
| 过去12个月自由现金流最近4个季度 | $2.4B | $535.1M |
8季度趋势，按日历期对齐
经营现金流ADSKWSO
| Q1 26 | $989.0M | — | ||
| Q4 25 | $439.0M | $399.8M | ||
| Q3 25 | $460.0M | $354.9M | ||
| Q2 25 | $564.0M | $-7.4M | ||
| Q1 25 | $692.0M | $-177.6M | ||
| Q4 24 | $209.0M | $378.9M | ||
| Q3 24 | $212.0M | $232.8M | ||
| Q2 24 | $494.0M | $57.7M |
自由现金流ADSKWSO
| Q1 26 | $972.0M | — | ||
| Q4 25 | $430.0M | $388.5M | ||
| Q3 25 | $451.0M | $346.1M | ||
| Q2 25 | $556.0M | $-14.3M | ||
| Q1 25 | $678.0M | $-185.2M | ||
| Q4 24 | $199.0M | $370.9M | ||
| Q3 24 | $203.0M | $223.0M | ||
| Q2 24 | $487.0M | $51.3M |
自由现金流率ADSKWSO
| Q1 26 | 49.7% | — | ||
| Q4 25 | 23.2% | 24.6% | ||
| Q3 25 | 25.6% | 16.7% | ||
| Q2 25 | 34.0% | -0.7% | ||
| Q1 25 | 41.4% | -12.1% | ||
| Q4 24 | 12.7% | 21.1% | ||
| Q3 24 | 13.5% | 10.3% | ||
| Q2 24 | 34.4% | 2.4% |
资本支出强度ADSKWSO
| Q1 26 | 0.9% | — | ||
| Q4 25 | 0.5% | 0.7% | ||
| Q3 25 | 0.5% | 0.4% | ||
| Q2 25 | 0.5% | 0.3% | ||
| Q1 25 | 0.9% | 0.5% | ||
| Q4 24 | 0.6% | 0.5% | ||
| Q3 24 | 0.6% | 0.5% | ||
| Q2 24 | 0.5% | 0.3% |
现金转化率ADSKWSO
| Q1 26 | 3.13× | — | ||
| Q4 25 | 1.28× | 5.57× | ||
| Q3 25 | 1.47× | 2.20× | ||
| Q2 25 | 3.71× | -0.04× | ||
| Q1 25 | 2.28× | -2.22× | ||
| Q4 24 | 0.76× | 3.91× | ||
| Q3 24 | 0.75× | 1.36× | ||
| Q2 24 | 1.96× | 0.32× |
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
ADSK
| Sales Channel Through Intermediary | $602.0M | 31% |
| Auto CA Dand Auto CADLT Family | $478.0M | 24% |
| Manufacturing | $381.0M | 19% |
| Make | $218.0M | 11% |
| Other | $130.0M | 7% |
| Other Research And Development | $129.0M | 7% |
| Maintenance | $8.0M | 0% |
WSO
暂无分部数据
