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ADT Inc.（ADT）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
ADT Inc.的季度营收约是Reddit, Inc.的1.8倍（$1.3B vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 11.4%，领先23.3%），Reddit, Inc.同比增速更快（69.7% vs 2.9%），ADT Inc.自由现金流更多（$323.5M vs $263.6M），过去两年Reddit, Inc.的营收复合增速更高（72.8% 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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
ADT vs RDDT — 直观对比
营收规模更大
ADT
是对方的1.8倍
$725.6M
营收增速更快
RDDT
高出66.8%
2.9%
净利率更高
RDDT
高出23.3%
11.4%
自由现金流更多
ADT
多$59.9M
$263.6M
两年增速更快
RDDT
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $725.6M |
| 净利润 | $145.4M | $251.6M |
| 毛利率 | — | 91.9% |
| 营业利润率 | 26.1% | 31.9% |
| 净利率 | 11.4% | 34.7% |
| 营收同比 | 2.9% | 69.7% |
| 净利润同比 | -23.5% | 254.2% |
| 每股收益（稀释后） | — | $1.24 |
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ADTRDDT
| Q4 25 | $1.3B | $725.6M | ||
| Q3 25 | $1.3B | $584.9M | ||
| Q2 25 | $1.3B | $499.6M | ||
| Q1 25 | $1.3B | $392.4M | ||
| Q4 24 | $1.2B | $427.7M | ||
| Q3 24 | $1.2B | $348.4M | ||
| Q2 24 | $1.2B | $281.2M | ||
| Q1 24 | $1.2B | $243.0M |
净利润ADTRDDT
| Q4 25 | $145.4M | $251.6M | ||
| Q3 25 | $145.1M | $162.7M | ||
| Q2 25 | $165.2M | $89.3M | ||
| Q1 25 | $140.2M | $26.2M | ||
| Q4 24 | $190.0M | $71.0M | ||
| Q3 24 | $127.2M | $29.9M | ||
| Q2 24 | $92.4M | $-10.1M | ||
| Q1 24 | $91.6M | $-575.1M |
毛利率ADTRDDT
| Q4 25 | — | 91.9% | ||
| Q3 25 | — | 91.0% | ||
| Q2 25 | — | 90.8% | ||
| Q1 25 | — | 90.5% | ||
| Q4 24 | — | 92.6% | ||
| Q3 24 | — | 90.1% | ||
| Q2 24 | — | 89.5% | ||
| Q1 24 | — | 88.6% |
营业利润率ADTRDDT
| Q4 25 | 26.1% | 31.9% | ||
| Q3 25 | 24.3% | 23.7% | ||
| Q2 25 | 26.6% | 13.6% | ||
| Q1 25 | 25.2% | 1.0% | ||
| Q4 24 | 32.4% | 12.4% | ||
| Q3 24 | 26.2% | 2.0% | ||
| Q2 24 | 23.6% | -11.0% | ||
| Q1 24 | 16.2% | -242.5% |
净利率ADTRDDT
| Q4 25 | 11.4% | 34.7% | ||
| Q3 25 | 11.2% | 27.8% | ||
| Q2 25 | 12.8% | 17.9% | ||
| Q1 25 | 11.1% | 6.7% | ||
| Q4 24 | 15.3% | 16.6% | ||
| Q3 24 | 10.2% | 8.6% | ||
| Q2 24 | 7.7% | -3.6% | ||
| Q1 24 | 7.6% | -236.7% |
每股收益（稀释后）ADTRDDT
| Q4 25 | — | $1.24 | ||
| Q3 25 | — | $0.80 | ||
| Q2 25 | — | $0.45 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $4.76 | ||
| Q3 24 | — | $0.16 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | — | $-8.19 |
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 | $953.6M |
| 总债务越低越好 | $7.4B | — |
| 股东权益账面价值 | $3.8B | $2.9B |
| 总资产 | $15.8B | $3.2B |
| 负债/权益比越低杠杆越低 | 1.95× | — |
8季度趋势，按日历期对齐
现金及短期投资ADTRDDT
| Q4 25 | $80.8M | $953.6M | ||
| Q3 25 | $62.8M | $911.7M | ||
| Q2 25 | $45.2M | $734.1M | ||
| Q1 25 | $3.7M | $635.7M | ||
| Q4 24 | $96.2M | $562.1M | ||
| Q3 24 | $95.3M | $515.9M | ||
| Q2 24 | $37.9M | $468.0M | ||
| Q1 24 | $4.0M | $968.5M |
总债务ADTRDDT
| Q4 25 | $7.4B | — | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $6.8B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.5B | — | ||
| Q3 24 | $7.5B | — | ||
| Q2 24 | $7.5B | — | ||
| Q1 24 | $7.6B | — |
股东权益ADTRDDT
| Q4 25 | $3.8B | $2.9B | ||
| Q3 25 | $3.7B | $2.6B | ||
| Q2 25 | $3.7B | $2.4B | ||
| Q1 25 | $3.6B | $2.2B | ||
| Q4 24 | $3.8B | $2.1B | ||
| Q3 24 | $3.9B | $2.0B | ||
| Q2 24 | $3.8B | $1.9B | ||
| Q1 24 | $3.7B | $1.8B |
总资产ADTRDDT
| Q4 25 | $15.8B | $3.2B | ||
| Q3 25 | $16.0B | $2.9B | ||
| Q2 25 | $16.0B | $2.6B | ||
| Q1 25 | $15.8B | $2.4B | ||
| Q4 24 | $16.1B | $2.3B | ||
| Q3 24 | $16.1B | $2.2B | ||
| Q2 24 | $16.0B | $2.1B | ||
| Q1 24 | $15.9B | $2.0B |
负债/权益比ADTRDDT
| Q4 25 | 1.95× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | 2.10× | — | ||
| Q4 24 | 1.98× | — | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 2.03× | — |
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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $263.6M |
| 自由现金流率自由现金流/营收 | 25.4% | 36.3% |
| 资本支出强度资本支出/营收 | 3.9% | 0.4% |
| 现金转化率经营现金流/净利润 | 2.57× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $684.2M |
8季度趋势，按日历期对齐
经营现金流ADTRDDT
| Q4 25 | $373.6M | $266.8M | ||
| Q3 25 | $480.1M | $185.2M | ||
| Q2 25 | $563.9M | $111.3M | ||
| Q1 25 | $466.6M | $127.6M | ||
| Q4 24 | $459.7M | $90.0M | ||
| Q3 24 | $498.2M | $71.6M | ||
| Q2 24 | $563.2M | $28.4M | ||
| Q1 24 | $363.8M | $32.1M |
自由现金流ADTRDDT
| Q4 25 | $323.5M | $263.6M | ||
| Q3 25 | $437.4M | $183.1M | ||
| Q2 25 | $526.3M | $110.8M | ||
| Q1 25 | $421.2M | $126.6M | ||
| Q4 24 | $426.0M | $89.2M | ||
| Q3 24 | $455.5M | $70.3M | ||
| Q2 24 | $516.5M | $27.2M | ||
| Q1 24 | $323.1M | $29.2M |
自由现金流率ADTRDDT
| Q4 25 | 25.4% | 36.3% | ||
| Q3 25 | 33.7% | 31.3% | ||
| Q2 25 | 40.9% | 22.2% | ||
| Q1 25 | 33.2% | 32.3% | ||
| Q4 24 | 34.3% | 20.8% | ||
| Q3 24 | 36.6% | 20.2% | ||
| Q2 24 | 42.9% | 9.7% | ||
| Q1 24 | 26.7% | 12.0% |
资本支出强度ADTRDDT
| Q4 25 | 3.9% | 0.4% | ||
| Q3 25 | 3.3% | 0.4% | ||
| Q2 25 | 2.9% | 0.1% | ||
| Q1 25 | 3.6% | 0.2% | ||
| Q4 24 | 2.7% | 0.2% | ||
| Q3 24 | 3.4% | 0.4% | ||
| Q2 24 | 3.9% | 0.4% | ||
| Q1 24 | 3.4% | 1.2% |
现金转化率ADTRDDT
| Q4 25 | 2.57× | 1.06× | ||
| Q3 25 | 3.31× | 1.14× | ||
| Q2 25 | 3.41× | 1.25× | ||
| Q1 25 | 3.33× | 4.88× | ||
| Q4 24 | 2.42× | 1.27× | ||
| Q3 24 | 3.92× | 2.40× | ||
| Q2 24 | 6.10× | — | ||
| Q1 24 | 3.97× | — |
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% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
