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ADT Inc.（ADT）与波音（BA）财务数据对比。点击上方公司名可切换其他公司
波音的季度营收约是ADT Inc.的17.4倍（$22.2B vs $1.3B）。ADT Inc.净利率更高（11.4% vs -0.0%，领先11.4%）。波音同比增速更快（14.0% vs 2.9%）。ADT Inc.自由现金流更多（$323.5M vs $-1.5B）。过去两年波音的营收复合增速更高（14.8% vs 2.7%）
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。
波音公司是美国跨国航空航天企业，1916年成立，业务覆盖民用飞机、旋翼机、火箭、卫星、导弹的设计、制造与全球销售，同时提供租赁及产品配套支持服务。作为全球头部航空航天制造商，按2022年营收计为全球第四大国防承包商，也是美国按金额计算的最大出口企业。
ADT vs BA — 直观对比
营收规模更大
BA
是对方的17.4倍
$1.3B
营收增速更快
BA
高出11.1%
2.9%
净利率更高
ADT
高出11.4%
-0.0%
自由现金流更多
ADT
多$1.8B
$-1.5B
两年增速更快
BA
近两年复合增速
2.7%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $22.2B |
| 净利润 | $145.4M | $-7.0M |
| 毛利率 | — | — |
| 营业利润率 | 26.1% | 2.0% |
| 净利率 | 11.4% | -0.0% |
| 营收同比 | 2.9% | 14.0% |
| 净利润同比 | -23.5% | 77.4% |
| 每股收益（稀释后） | — | $-0.11 |
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ADTBA
| Q1 26 | — | $22.2B | ||
| Q4 25 | $1.3B | $23.9B | ||
| Q3 25 | $1.3B | $23.3B | ||
| Q2 25 | $1.3B | $22.7B | ||
| Q1 25 | $1.3B | $19.5B | ||
| Q4 24 | $1.2B | $15.2B | ||
| Q3 24 | $1.2B | $17.8B | ||
| Q2 24 | $1.2B | $16.9B |
净利润ADTBA
| Q1 26 | — | $-7.0M | ||
| Q4 25 | $145.4M | $8.2B | ||
| Q3 25 | $145.1M | $-5.3B | ||
| Q2 25 | $165.2M | $-611.0M | ||
| Q1 25 | $140.2M | $-37.0M | ||
| Q4 24 | $190.0M | $-3.9B | ||
| Q3 24 | $127.2M | $-6.2B | ||
| Q2 24 | $92.4M | $-1.4B |
毛利率ADTBA
| Q1 26 | — | — | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | -10.2% | ||
| Q2 25 | — | 10.7% | ||
| Q1 25 | — | 12.4% | ||
| Q4 24 | — | -10.4% | ||
| Q3 24 | — | -19.7% | ||
| Q2 24 | — | 7.3% |
营业利润率ADTBA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 26.1% | 36.7% | ||
| Q3 25 | 24.3% | -20.5% | ||
| Q2 25 | 26.6% | -0.8% | ||
| Q1 25 | 25.2% | 2.4% | ||
| Q4 24 | 32.4% | -24.7% | ||
| Q3 24 | 26.2% | -32.3% | ||
| Q2 24 | 23.6% | -6.5% |
净利率ADTBA
| Q1 26 | — | -0.0% | ||
| Q4 25 | 11.4% | 34.3% | ||
| Q3 25 | 11.2% | -22.9% | ||
| Q2 25 | 12.8% | -2.7% | ||
| Q1 25 | 11.1% | -0.2% | ||
| Q4 24 | 15.3% | -25.4% | ||
| Q3 24 | 10.2% | -34.6% | ||
| Q2 24 | 7.7% | -8.5% |
每股收益（稀释后）ADTBA
| Q1 26 | — | $-0.11 | ||
| Q4 25 | — | $10.70 | ||
| Q3 25 | — | $-7.14 | ||
| Q2 25 | — | $-0.92 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $-5.50 | ||
| Q3 24 | — | $-9.97 | ||
| Q2 24 | — | $-2.33 |
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 | $9.4B |
| 总债务越低越好 | $7.4B | $44.4B |
| 股东权益账面价值 | $3.8B | $6.0B |
| 总资产 | $15.8B | $164.8B |
| 负债/权益比越低杠杆越低 | 1.95× | 7.41× |
8季度趋势，按日历期对齐
现金及短期投资ADTBA
| Q1 26 | — | $9.4B | ||
| Q4 25 | $80.8M | $29.4B | ||
| Q3 25 | $62.8M | $23.0B | ||
| Q2 25 | $45.2M | $23.0B | ||
| Q1 25 | $3.7M | $23.7B | ||
| Q4 24 | $96.2M | $26.3B | ||
| Q3 24 | $95.3M | $10.5B | ||
| Q2 24 | $37.9M | $12.6B |
总债务ADTBA
| Q1 26 | — | $44.4B | ||
| Q4 25 | $7.4B | $45.6B | ||
| Q3 25 | $7.3B | $44.6B | ||
| Q2 25 | $6.8B | $44.6B | ||
| Q1 25 | $7.6B | $45.7B | ||
| Q4 24 | $7.5B | $52.6B | ||
| Q3 24 | $7.5B | $53.2B | ||
| Q2 24 | $7.5B | $53.2B |
股东权益ADTBA
| Q1 26 | — | $6.0B | ||
| Q4 25 | $3.8B | $5.5B | ||
| Q3 25 | $3.7B | $-8.3B | ||
| Q2 25 | $3.7B | $-3.3B | ||
| Q1 25 | $3.6B | $-3.3B | ||
| Q4 24 | $3.8B | $-3.9B | ||
| Q3 24 | $3.9B | $-23.6B | ||
| Q2 24 | $3.8B | $-18.0B |
总资产ADTBA
| Q1 26 | — | $164.8B | ||
| Q4 25 | $15.8B | $168.2B | ||
| Q3 25 | $16.0B | $150.0B | ||
| Q2 25 | $16.0B | $155.1B | ||
| Q1 25 | $15.8B | $156.5B | ||
| Q4 24 | $16.1B | $156.4B | ||
| Q3 24 | $16.1B | $137.7B | ||
| Q2 24 | $16.0B | $142.7B |
负债/权益比ADTBA
| Q1 26 | — | 7.41× | ||
| Q4 25 | 1.95× | 8.37× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | 2.10× | — | ||
| Q4 24 | 1.98× | — | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 1.98× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $-1.5B |
| 自由现金流率自由现金流/营收 | 25.4% | -6.5% |
| 资本支出强度资本支出/营收 | 3.9% | — |
| 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 | $-1.0B |
8季度趋势，按日历期对齐
经营现金流ADTBA
| Q1 26 | — | — | ||
| Q4 25 | $373.6M | $1.3B | ||
| Q3 25 | $480.1M | $1.1B | ||
| Q2 25 | $563.9M | $227.0M | ||
| Q1 25 | $466.6M | $-1.6B | ||
| Q4 24 | $459.7M | $-3.5B | ||
| Q3 24 | $498.2M | $-1.3B | ||
| Q2 24 | $563.2M | $-3.9B |
自由现金流ADTBA
| Q1 26 | — | $-1.5B | ||
| Q4 25 | $323.5M | $375.0M | ||
| Q3 25 | $437.4M | $238.0M | ||
| Q2 25 | $526.3M | $-200.0M | ||
| Q1 25 | $421.2M | $-2.3B | ||
| Q4 24 | $426.0M | $-4.1B | ||
| Q3 24 | $455.5M | $-2.0B | ||
| Q2 24 | $516.5M | $-4.3B |
自由现金流率ADTBA
| Q1 26 | — | -6.5% | ||
| Q4 25 | 25.4% | 1.6% | ||
| Q3 25 | 33.7% | 1.0% | ||
| Q2 25 | 40.9% | -0.9% | ||
| Q1 25 | 33.2% | -11.7% | ||
| Q4 24 | 34.3% | -26.9% | ||
| Q3 24 | 36.6% | -11.0% | ||
| Q2 24 | 42.9% | -25.7% |
资本支出强度ADTBA
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 4.0% | ||
| Q3 25 | 3.3% | 3.8% | ||
| Q2 25 | 2.9% | 1.9% | ||
| Q1 25 | 3.6% | 3.5% | ||
| Q4 24 | 2.7% | 4.3% | ||
| Q3 24 | 3.4% | 3.4% | ||
| Q2 24 | 3.9% | 2.4% |
现金转化率ADTBA
| Q1 26 | — | — | ||
| Q4 25 | 2.57× | 0.16× | ||
| Q3 25 | 3.31× | — | ||
| Q2 25 | 3.41× | — | ||
| Q1 25 | 3.33× | — | ||
| Q4 24 | 2.42× | — | ||
| Q3 24 | 3.92× | — | ||
| Q2 24 | 6.10× | — |
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% |
| Amortization Of Deferred Subscriber Acquisition Revenue | $89.9M | 7% |
| Other Related Services | $36.0M | 3% |
BA
| Commercial Airplanes | $9.2B | 41% |
| Defense, Space & Security | $7.6B | 34% |
| Global Services | $5.4B | 24% |
