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ADT Inc.（ADT）与雅保（ALB）财务数据对比。点击上方公司名可切换其他公司
雅保的季度营收约是ADT Inc.的1.1倍（$1.4B vs $1.3B），ADT Inc.净利率更高（11.4% vs -29.0%，领先40.4%），雅保同比增速更快（15.9% vs 2.9%），ADT Inc.自由现金流更多（$323.5M vs $233.1M），过去两年ADT Inc.的营收复合增速更高（2.7% vs 2.4%）
ADT Inc.是美国头部安防企业，总部位于佛罗里达州博卡拉顿，业务覆盖美国与加拿大，为住宅、小型商户提供电子安防、消防防护及相关报警监控服务。公司2016年被阿波罗全球管理以69亿美元杠杆收购，2018年1月于纽约证券交易所上市。
雅保是全球知名的特种化学品企业，业务覆盖研发、生产与全球销售，下设锂、溴、催化剂三大板块。锂业务线供应碳酸锂、氢氧化锂、氯化锂等锂化合物及相关试剂，产品广泛应用于消费电子、电动汽车锂电池、高性能润滑脂、热塑性弹性体等领域。
ADT vs ALB — 直观对比
营收规模更大
ALB
是对方的1.1倍
$1.3B
营收增速更快
ALB
高出13.1%
2.9%
净利率更高
ADT
高出40.4%
-29.0%
自由现金流更多
ADT
多$90.4M
$233.1M
两年增速更快
ADT
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.4B |
| 净利润 | $145.4M | $-414.2M |
| 毛利率 | — | 13.9% |
| 营业利润率 | 26.1% | -15.2% |
| 净利率 | 11.4% | -29.0% |
| 营收同比 | 2.9% | 15.9% |
| 净利润同比 | -23.5% | -650.1% |
| 每股收益（稀释后） | — | $-3.88 |
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ADTALB
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.2B | $1.4B | ||
| Q2 24 | $1.2B | $1.4B | ||
| Q1 24 | $1.2B | $1.4B |
净利润ADTALB
| Q4 25 | $145.4M | $-414.2M | ||
| Q3 25 | $145.1M | $-160.7M | ||
| Q2 25 | $165.2M | $22.9M | ||
| Q1 25 | $140.2M | $41.3M | ||
| Q4 24 | $190.0M | $75.3M | ||
| Q3 24 | $127.2M | $-1.1B | ||
| Q2 24 | $92.4M | $-188.2M | ||
| Q1 24 | $91.6M | $2.4M |
毛利率ADTALB
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 14.8% | ||
| Q1 25 | — | 14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -7.7% | ||
| Q2 24 | — | -0.7% | ||
| Q1 24 | — | 2.9% |
营业利润率ADTALB
| Q4 25 | 26.1% | -15.2% | ||
| Q3 25 | 24.3% | -16.6% | ||
| Q2 25 | 26.6% | 3.6% | ||
| Q1 25 | 25.2% | 1.8% | ||
| Q4 24 | 32.4% | 0.4% | ||
| Q3 24 | 26.2% | -81.9% | ||
| Q2 24 | 23.6% | -34.4% | ||
| Q1 24 | 16.2% | -13.2% |
净利率ADTALB
| Q4 25 | 11.4% | -29.0% | ||
| Q3 25 | 11.2% | -12.3% | ||
| Q2 25 | 12.8% | 1.7% | ||
| Q1 25 | 11.1% | 3.8% | ||
| Q4 24 | 15.3% | 6.1% | ||
| Q3 24 | 10.2% | -78.9% | ||
| Q2 24 | 7.7% | -13.2% | ||
| Q1 24 | 7.6% | 0.2% |
每股收益（稀释后）ADTALB
| Q4 25 | — | $-3.88 | ||
| Q3 25 | — | $-1.72 | ||
| Q2 25 | — | $-0.16 | ||
| Q1 25 | — | $0.00 | ||
| Q4 24 | — | $0.29 | ||
| Q3 24 | — | $-9.45 | ||
| Q2 24 | — | $-1.96 | ||
| Q1 24 | — | $-0.08 |
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 | $80.8M | — |
| 总债务越低越好 | $7.4B | $3.2B |
| 股东权益账面价值 | $3.8B | $9.5B |
| 总资产 | $15.8B | $16.4B |
| 负债/权益比越低杠杆越低 | 1.95× | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资ADTALB
| Q4 25 | $80.8M | — | ||
| Q3 25 | $62.8M | $1.9B | ||
| Q2 25 | $45.2M | $1.8B | ||
| Q1 25 | $3.7M | $1.5B | ||
| Q4 24 | $96.2M | $1.2B | ||
| Q3 24 | $95.3M | $1.7B | ||
| Q2 24 | $37.9M | $1.8B | ||
| Q1 24 | $4.0M | $2.1B |
总债务ADTALB
| Q4 25 | $7.4B | $3.2B | ||
| Q3 25 | $7.3B | $3.6B | ||
| Q2 25 | $6.8B | $3.6B | ||
| Q1 25 | $7.6B | $3.5B | ||
| Q4 24 | $7.5B | $3.5B | ||
| Q3 24 | $7.5B | $3.6B | ||
| Q2 24 | $7.5B | $3.5B | ||
| Q1 24 | $7.6B | $3.5B |
股东权益ADTALB
| Q4 25 | $3.8B | $9.5B | ||
| Q3 25 | $3.7B | $10.0B | ||
| Q2 25 | $3.7B | $10.2B | ||
| Q1 25 | $3.6B | $10.0B | ||
| Q4 24 | $3.8B | $10.0B | ||
| Q3 24 | $3.9B | $10.2B | ||
| Q2 24 | $3.8B | $11.2B | ||
| Q1 24 | $3.7B | $11.5B |
总资产ADTALB
| Q4 25 | $15.8B | $16.4B | ||
| Q3 25 | $16.0B | $17.1B | ||
| Q2 25 | $16.0B | $17.3B | ||
| Q1 25 | $15.8B | $17.0B | ||
| Q4 24 | $16.1B | $16.6B | ||
| Q3 24 | $16.1B | $17.5B | ||
| Q2 24 | $16.0B | $18.4B | ||
| Q1 24 | $15.9B | $19.0B |
负债/权益比ADTALB
| Q4 25 | 1.95× | 0.33× | ||
| Q3 25 | 1.99× | 0.36× | ||
| Q2 25 | 1.84× | 0.35× | ||
| Q1 25 | 2.10× | 0.35× | ||
| Q4 24 | 1.98× | 0.35× | ||
| Q3 24 | 1.93× | 0.35× | ||
| Q2 24 | 1.98× | 0.31× | ||
| Q1 24 | 2.03× | 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 | $373.6M | $388.5M |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $233.1M |
| 自由现金流率自由现金流/营收 | 25.4% | 16.3% |
| 资本支出强度资本支出/营收 | 3.9% | 10.9% |
| 现金转化率经营现金流/净利润 | 2.57× | — |
| 过去12个月自由现金流最近4个季度 | $1.7B | $692.5M |
8季度趋势，按日历期对齐
经营现金流ADTALB
| Q4 25 | $373.6M | $388.5M | ||
| Q3 25 | $480.1M | $355.6M | ||
| Q2 25 | $563.9M | $-7.2M | ||
| Q1 25 | $466.6M | $545.4M | ||
| Q4 24 | $459.7M | $674.0K | ||
| Q3 24 | $498.2M | $240.5M | ||
| Q2 24 | $563.2M | $362.9M | ||
| Q1 24 | $363.8M | $98.0M |
自由现金流ADTALB
| Q4 25 | $323.5M | $233.1M | ||
| Q3 25 | $437.4M | $223.4M | ||
| Q2 25 | $526.3M | $-126.8M | ||
| Q1 25 | $421.2M | $362.8M | ||
| Q4 24 | $426.0M | $-355.1M | ||
| Q3 24 | $455.5M | $-62.6M | ||
| Q2 24 | $516.5M | $-84.7M | ||
| Q1 24 | $323.1M | $-481.4M |
自由现金流率ADTALB
| Q4 25 | 25.4% | 16.3% | ||
| Q3 25 | 33.7% | 17.1% | ||
| Q2 25 | 40.9% | -9.5% | ||
| Q1 25 | 33.2% | 33.7% | ||
| Q4 24 | 34.3% | -28.8% | ||
| Q3 24 | 36.6% | -4.6% | ||
| Q2 24 | 42.9% | -5.9% | ||
| Q1 24 | 26.7% | -35.4% |
资本支出强度ADTALB
| Q4 25 | 3.9% | 10.9% | ||
| Q3 25 | 3.3% | 10.1% | ||
| Q2 25 | 2.9% | 9.0% | ||
| Q1 25 | 3.6% | 17.0% | ||
| Q4 24 | 2.7% | 28.9% | ||
| Q3 24 | 3.4% | 22.4% | ||
| Q2 24 | 3.9% | 31.3% | ||
| Q1 24 | 3.4% | 42.6% |
现金转化率ADTALB
| Q4 25 | 2.57× | — | ||
| Q3 25 | 3.31× | — | ||
| Q2 25 | 3.41× | -0.31× | ||
| Q1 25 | 3.33× | 13.19× | ||
| Q4 24 | 2.42× | 0.01× | ||
| Q3 24 | 3.92× | — | ||
| Q2 24 | 6.10× | — | ||
| Q1 24 | 3.97× | 40.01× |
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
ADT
| Recurring Monthly Revenue | $1.0B | 82% |
| Installation Revenue | $103.0M | 8% |
| Other | $89.9M | 7% |
| Other Related Services | $36.0M | 3% |
ALB
| Energy Storage | $759.1M | 53% |
| Specialties | $348.9M | 24% |
| Ketjen | $320.1M | 22% |
