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ADT Inc.（ADT）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
ADT Inc.的季度营收约是越洋钻探的1.2倍（$1.3B vs $1.0B），ADT Inc.净利率更高（11.4% vs 2.4%，领先9.0%），越洋钻探同比增速更快（9.6% vs 2.9%），ADT Inc.自由现金流更多（$323.5M vs $321.0M），过去两年越洋钻探的营收复合增速更高（16.9% 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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
ADT vs RIG — 直观对比
营收规模更大
ADT
是对方的1.2倍
$1.0B
营收增速更快
RIG
高出6.7%
2.9%
净利率更高
ADT
高出9.0%
2.4%
自由现金流更多
ADT
多$2.5M
$321.0M
两年增速更快
RIG
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.0B |
| 净利润 | $145.4M | $25.0M |
| 毛利率 | — | 42.0% |
| 营业利润率 | 26.1% | 23.0% |
| 净利率 | 11.4% | 2.4% |
| 营收同比 | 2.9% | 9.6% |
| 净利润同比 | -23.5% | 257.1% |
| 每股收益（稀释后） | — | $0.13 |
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ADTRIG
| Q4 25 | $1.3B | $1.0B | ||
| Q3 25 | $1.3B | $1.0B | ||
| Q2 25 | $1.3B | $988.0M | ||
| Q1 25 | $1.3B | $906.0M | ||
| Q4 24 | $1.2B | $952.0M | ||
| Q3 24 | $1.2B | $948.0M | ||
| Q2 24 | $1.2B | $861.0M | ||
| Q1 24 | $1.2B | $763.0M |
净利润ADTRIG
| Q4 25 | $145.4M | $25.0M | ||
| Q3 25 | $145.1M | $-1.9B | ||
| Q2 25 | $165.2M | $-938.0M | ||
| Q1 25 | $140.2M | $-79.0M | ||
| Q4 24 | $190.0M | $7.0M | ||
| Q3 24 | $127.2M | $-494.0M | ||
| Q2 24 | $92.4M | $-123.0M | ||
| Q1 24 | $91.6M | $98.0M |
毛利率ADTRIG
| Q4 25 | — | 42.0% | ||
| Q3 25 | — | 43.2% | ||
| Q2 25 | — | 39.4% | ||
| Q1 25 | — | 31.8% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 40.6% | ||
| Q2 24 | — | 38.0% | ||
| Q1 24 | — | 31.5% |
营业利润率ADTRIG
| Q4 25 | 26.1% | 23.0% | ||
| Q3 25 | 24.3% | -163.1% | ||
| Q2 25 | 26.6% | -97.6% | ||
| Q1 25 | 25.2% | 7.1% | ||
| Q4 24 | 32.4% | 13.7% | ||
| Q3 24 | 26.2% | -51.2% | ||
| Q2 24 | 23.6% | -6.9% | ||
| Q1 24 | 16.2% | -0.4% |
净利率ADTRIG
| Q4 25 | 11.4% | 2.4% | ||
| Q3 25 | 11.2% | -187.1% | ||
| Q2 25 | 12.8% | -94.9% | ||
| Q1 25 | 11.1% | -8.7% | ||
| Q4 24 | 15.3% | 0.7% | ||
| Q3 24 | 10.2% | -52.1% | ||
| Q2 24 | 7.7% | -14.3% | ||
| Q1 24 | 7.6% | 12.8% |
每股收益（稀释后）ADTRIG
| Q4 25 | — | $0.13 | ||
| Q3 25 | — | $-2.00 | ||
| Q2 25 | — | $-1.06 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | — | $-0.58 | ||
| Q2 24 | — | $-0.15 | ||
| Q1 24 | — | $0.11 |
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 | $620.0M |
| 总债务越低越好 | $7.4B | $5.2B |
| 股东权益账面价值 | $3.8B | $8.1B |
| 总资产 | $15.8B | $15.6B |
| 负债/权益比越低杠杆越低 | 1.95× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资ADTRIG
| Q4 25 | $80.8M | $620.0M | ||
| Q3 25 | $62.8M | $833.0M | ||
| Q2 25 | $45.2M | $377.0M | ||
| Q1 25 | $3.7M | $263.0M | ||
| Q4 24 | $96.2M | $560.0M | ||
| Q3 24 | $95.3M | $435.0M | ||
| Q2 24 | $37.9M | $475.0M | ||
| Q1 24 | $4.0M | $446.0M |
总债务ADTRIG
| Q4 25 | $7.4B | $5.2B | ||
| Q3 25 | $7.3B | $4.8B | ||
| Q2 25 | $6.8B | $5.9B | ||
| Q1 25 | $7.6B | $5.9B | ||
| Q4 24 | $7.5B | $6.2B | ||
| Q3 24 | $7.5B | $6.5B | ||
| Q2 24 | $7.5B | $6.8B | ||
| Q1 24 | $7.6B | $6.8B |
股东权益ADTRIG
| Q4 25 | $3.8B | $8.1B | ||
| Q3 25 | $3.7B | $8.1B | ||
| Q2 25 | $3.7B | $9.4B | ||
| Q1 25 | $3.6B | $10.2B | ||
| Q4 24 | $3.8B | $10.3B | ||
| Q3 24 | $3.9B | $10.2B | ||
| Q2 24 | $3.8B | $10.7B | ||
| Q1 24 | $3.7B | $10.5B |
总资产ADTRIG
| Q4 25 | $15.8B | $15.6B | ||
| Q3 25 | $16.0B | $16.2B | ||
| Q2 25 | $16.0B | $17.8B | ||
| Q1 25 | $15.8B | $19.0B | ||
| Q4 24 | $16.1B | $19.4B | ||
| Q3 24 | $16.1B | $19.5B | ||
| Q2 24 | $16.0B | $20.3B | ||
| Q1 24 | $15.9B | $19.9B |
负债/权益比ADTRIG
| Q4 25 | 1.95× | 0.64× | ||
| Q3 25 | 1.99× | 0.60× | ||
| Q2 25 | 1.84× | 0.63× | ||
| Q1 25 | 2.10× | 0.58× | ||
| Q4 24 | 1.98× | 0.60× | ||
| Q3 24 | 1.93× | 0.64× | ||
| Q2 24 | 1.98× | 0.63× | ||
| Q1 24 | 2.03× | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $321.0M |
| 自由现金流率自由现金流/营收 | 25.4% | 30.8% |
| 资本支出强度资本支出/营收 | 3.9% | 2.7% |
| 现金转化率经营现金流/净利润 | 2.57× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $626.0M |
8季度趋势，按日历期对齐
经营现金流ADTRIG
| Q4 25 | $373.6M | $349.0M | ||
| Q3 25 | $480.1M | $246.0M | ||
| Q2 25 | $563.9M | $128.0M | ||
| Q1 25 | $466.6M | $26.0M | ||
| Q4 24 | $459.7M | $206.0M | ||
| Q3 24 | $498.2M | $194.0M | ||
| Q2 24 | $563.2M | $133.0M | ||
| Q1 24 | $363.8M | $-86.0M |
自由现金流ADTRIG
| Q4 25 | $323.5M | $321.0M | ||
| Q3 25 | $437.4M | $235.0M | ||
| Q2 25 | $526.3M | $104.0M | ||
| Q1 25 | $421.2M | $-34.0M | ||
| Q4 24 | $426.0M | $177.0M | ||
| Q3 24 | $455.5M | $136.0M | ||
| Q2 24 | $516.5M | $49.0M | ||
| Q1 24 | $323.1M | $-169.0M |
自由现金流率ADTRIG
| Q4 25 | 25.4% | 30.8% | ||
| Q3 25 | 33.7% | 22.9% | ||
| Q2 25 | 40.9% | 10.5% | ||
| Q1 25 | 33.2% | -3.8% | ||
| Q4 24 | 34.3% | 18.6% | ||
| Q3 24 | 36.6% | 14.3% | ||
| Q2 24 | 42.9% | 5.7% | ||
| Q1 24 | 26.7% | -22.1% |
资本支出强度ADTRIG
| Q4 25 | 3.9% | 2.7% | ||
| Q3 25 | 3.3% | 1.1% | ||
| Q2 25 | 2.9% | 2.4% | ||
| Q1 25 | 3.6% | 6.6% | ||
| Q4 24 | 2.7% | 3.0% | ||
| Q3 24 | 3.4% | 6.1% | ||
| Q2 24 | 3.9% | 9.8% | ||
| Q1 24 | 3.4% | 10.9% |
现金转化率ADTRIG
| Q4 25 | 2.57× | 13.96× | ||
| Q3 25 | 3.31× | — | ||
| Q2 25 | 3.41× | — | ||
| Q1 25 | 3.33× | — | ||
| Q4 24 | 2.42× | 29.43× | ||
| Q3 24 | 3.92× | — | ||
| Q2 24 | 6.10× | — | ||
| Q1 24 | 3.97× | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
