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ADT Inc.（ADT）与罗致恒富（RHI）财务数据对比。点击上方公司名可切换其他公司
罗致恒富的季度营收约是ADT Inc.的1.0倍（$1.3B vs $1.3B），ADT Inc.同比增速更快（2.9% vs -5.8%），ADT Inc.自由现金流更多（$323.5M vs $170.8M），过去两年ADT Inc.的营收复合增速更高（2.7% vs -6.1%）
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。
罗致恒富是1948年成立的国际人力资源咨询机构，总部位于加利福尼亚州门洛帕克和圣拉蒙，是全球规模领先的会计与金融领域人才派遣服务商之一，在全球范围内设有超过345个办公点。
ADT vs RHI — 直观对比
营收规模更大
RHI
是对方的1.0倍
$1.3B
营收增速更快
ADT
高出8.6%
-5.8%
自由现金流更多
ADT
多$152.7M
$170.8M
两年增速更快
ADT
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $145.4M | — |
| 毛利率 | — | 37.6% |
| 营业利润率 | 26.1% | 1.7% |
| 净利率 | 11.4% | — |
| 营收同比 | 2.9% | -5.8% |
| 净利润同比 | -23.5% | — |
| 每股收益（稀释后） | — | $0.32 |
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ADTRHI
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.4B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.2B | $1.5B | ||
| Q1 24 | $1.2B | $1.5B |
净利润ADTRHI
| Q4 25 | $145.4M | — | ||
| Q3 25 | $145.1M | $42.9M | ||
| Q2 25 | $165.2M | $41.0M | ||
| Q1 25 | $140.2M | $17.4M | ||
| Q4 24 | $190.0M | — | ||
| Q3 24 | $127.2M | $65.5M | ||
| Q2 24 | $92.4M | $68.2M | ||
| Q1 24 | $91.6M | $63.7M |
毛利率ADTRHI
| Q4 25 | — | 37.6% | ||
| Q3 25 | — | 37.2% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 36.9% | ||
| Q4 24 | — | 38.8% | ||
| Q3 24 | — | 39.0% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 38.1% |
营业利润率ADTRHI
| Q4 25 | 26.1% | 1.7% | ||
| Q3 25 | 24.3% | 1.0% | ||
| Q2 25 | 26.6% | 0.1% | ||
| Q1 25 | 25.2% | 2.9% | ||
| Q4 24 | 32.4% | 4.7% | ||
| Q3 24 | 26.2% | 4.1% | ||
| Q2 24 | 23.6% | 5.1% | ||
| Q1 24 | 16.2% | 2.8% |
净利率ADTRHI
| Q4 25 | 11.4% | — | ||
| Q3 25 | 11.2% | 3.2% | ||
| Q2 25 | 12.8% | 3.0% | ||
| Q1 25 | 11.1% | 1.3% | ||
| Q4 24 | 15.3% | — | ||
| Q3 24 | 10.2% | 4.5% | ||
| Q2 24 | 7.7% | 4.6% | ||
| Q1 24 | 7.6% | 4.3% |
每股收益（稀释后）ADTRHI
| Q4 25 | — | $0.32 | ||
| Q3 25 | — | $0.43 | ||
| Q2 25 | — | $0.41 | ||
| Q1 25 | — | $0.17 | ||
| Q4 24 | — | $0.53 | ||
| Q3 24 | — | $0.64 | ||
| Q2 24 | — | $0.66 | ||
| Q1 24 | — | $0.61 |
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 | $464.4M |
| 总债务越低越好 | $7.4B | — |
| 股东权益账面价值 | $3.8B | $1.3B |
| 总资产 | $15.8B | $2.9B |
| 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ADTRHI
| Q4 25 | $80.8M | $464.4M | ||
| Q3 25 | $62.8M | $365.3M | ||
| Q2 25 | $45.2M | $380.5M | ||
| Q1 25 | $3.7M | $342.5M | ||
| Q4 24 | $96.2M | $537.6M | ||
| Q3 24 | $95.3M | $570.5M | ||
| Q2 24 | $37.9M | $547.4M | ||
| Q1 24 | $4.0M | $540.9M |
总债务ADTRHI
| 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ADTRHI
| Q4 25 | $3.8B | $1.3B | ||
| Q3 25 | $3.7B | $1.3B | ||
| Q2 25 | $3.7B | $1.3B | ||
| Q1 25 | $3.6B | $1.3B | ||
| Q4 24 | $3.8B | $1.4B | ||
| Q3 24 | $3.9B | $1.5B | ||
| Q2 24 | $3.8B | $1.5B | ||
| Q1 24 | $3.7B | $1.5B |
总资产ADTRHI
| Q4 25 | $15.8B | $2.9B | ||
| Q3 25 | $16.0B | $2.8B | ||
| Q2 25 | $16.0B | $2.8B | ||
| Q1 25 | $15.8B | $2.7B | ||
| Q4 24 | $16.1B | $2.9B | ||
| Q3 24 | $16.1B | $3.0B | ||
| Q2 24 | $16.0B | $2.9B | ||
| Q1 24 | $15.9B | $2.9B |
负债/权益比ADTRHI
| 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 | $182.5M |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $170.8M |
| 自由现金流率自由现金流/营收 | 25.4% | 13.1% |
| 资本支出强度资本支出/营收 | 3.9% | 0.9% |
| 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 | $266.8M |
8季度趋势，按日历期对齐
经营现金流ADTRHI
| Q4 25 | $373.6M | $182.5M | ||
| Q3 25 | $480.1M | $77.4M | ||
| Q2 25 | $563.9M | $119.4M | ||
| Q1 25 | $466.6M | $-59.3M | ||
| Q4 24 | $459.7M | $154.8M | ||
| Q3 24 | $498.2M | $129.6M | ||
| Q2 24 | $563.2M | $142.0M | ||
| Q1 24 | $363.8M | $-15.9M |
自由现金流ADTRHI
| Q4 25 | $323.5M | $170.8M | ||
| Q3 25 | $437.4M | $63.6M | ||
| Q2 25 | $526.3M | $104.2M | ||
| Q1 25 | $421.2M | $-71.7M | ||
| Q4 24 | $426.0M | $140.5M | ||
| Q3 24 | $455.5M | $111.8M | ||
| Q2 24 | $516.5M | $129.6M | ||
| Q1 24 | $323.1M | $-27.7M |
自由现金流率ADTRHI
| Q4 25 | 25.4% | 13.1% | ||
| Q3 25 | 33.7% | 4.7% | ||
| Q2 25 | 40.9% | 7.6% | ||
| Q1 25 | 33.2% | -5.3% | ||
| Q4 24 | 34.3% | 10.2% | ||
| Q3 24 | 36.6% | 7.6% | ||
| Q2 24 | 42.9% | 8.8% | ||
| Q1 24 | 26.7% | -1.9% |
资本支出强度ADTRHI
| Q4 25 | 3.9% | 0.9% | ||
| Q3 25 | 3.3% | 1.0% | ||
| Q2 25 | 2.9% | 1.1% | ||
| Q1 25 | 3.6% | 0.9% | ||
| Q4 24 | 2.7% | 1.0% | ||
| Q3 24 | 3.4% | 1.2% | ||
| Q2 24 | 3.9% | 0.8% | ||
| Q1 24 | 3.4% | 0.8% |
现金转化率ADTRHI
| Q4 25 | 2.57× | — | ||
| Q3 25 | 3.31× | 1.80× | ||
| Q2 25 | 3.41× | 2.91× | ||
| Q1 25 | 3.33× | -3.42× | ||
| Q4 24 | 2.42× | — | ||
| Q3 24 | 3.92× | 1.98× | ||
| Q2 24 | 6.10× | 2.08× | ||
| Q1 24 | 3.97× | -0.25× |
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% |
RHI
| Finance And Accounting | $535.2M | 41% |
| Protiviti | $479.0M | 37% |
| Technology | $156.4M | 12% |
| Permanent Placement Talent Solutions | $102.6M | 8% |
| Other | $29.2M | 2% |
