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ADT Inc.（ADT）与Rithm Capital Corp.（RITM）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Rithm Capital Corp.的1.5倍（$1.3B vs $828.2M），Rithm Capital Corp.净利率更高（13.2% vs 11.4%，领先1.8%），Rithm Capital Corp.同比增速更快（508.5% vs 2.9%），过去两年ADT Inc.的营收复合增速更高（2.7% vs -17.9%）
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。
Rithm Capital Corp.是总部位于美国纽约的投资管理机构，核心业务聚焦房地产投资与另类资产投资，依托专业的投研团队和成熟的市场运营经验，为合作伙伴及投资者提供优质的资产配置解决方案与长期收益回报。
ADT vs RITM — 直观对比
营收规模更大
ADT
是对方的1.5倍
$828.2M
营收增速更快
RITM
高出505.6%
2.9%
净利率更高
RITM
高出1.8%
11.4%
两年增速更快
ADT
近两年复合增速
-17.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $828.2M |
| 净利润 | $145.4M | $109.5M |
| 毛利率 | — | — |
| 营业利润率 | 26.1% | 29.9% |
| 净利率 | 11.4% | 13.2% |
| 营收同比 | 2.9% | 508.5% |
| 净利润同比 | -23.5% | 27.7% |
| 每股收益（稀释后） | — | $0.12 |
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ADTRITM
| Q1 26 | — | $828.2M | ||
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $768.4M | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | $1.2B | $619.5M | ||
| Q2 24 | $1.2B | $1.2B |
净利润ADTRITM
| Q1 26 | — | $109.5M | ||
| Q4 25 | $145.4M | $85.0M | ||
| Q3 25 | $145.1M | $221.5M | ||
| Q2 25 | $165.2M | $311.7M | ||
| Q1 25 | $140.2M | $78.8M | ||
| Q4 24 | $190.0M | $290.2M | ||
| Q3 24 | $127.2M | $121.7M | ||
| Q2 24 | $92.4M | $235.6M |
营业利润率ADTRITM
| Q1 26 | — | 29.9% | ||
| Q4 25 | 26.1% | 13.8% | ||
| Q3 25 | 24.3% | 21.4% | ||
| Q2 25 | 26.6% | 25.2% | ||
| Q1 25 | 25.2% | 7.4% | ||
| Q4 24 | 32.4% | 23.8% | ||
| Q3 24 | 26.2% | 7.3% | ||
| Q2 24 | 23.6% | 23.6% |
净利率ADTRITM
| Q1 26 | — | 13.2% | ||
| Q4 25 | 11.4% | 5.7% | ||
| Q3 25 | 11.2% | 20.0% | ||
| Q2 25 | 12.8% | 25.6% | ||
| Q1 25 | 11.1% | 10.3% | ||
| Q4 24 | 15.3% | 14.0% | ||
| Q3 24 | 10.2% | 19.7% | ||
| Q2 24 | 7.7% | 19.2% |
每股收益（稀释后）ADTRITM
| Q1 26 | — | $0.12 | ||
| Q4 25 | — | $0.09 | ||
| Q3 25 | — | $0.35 | ||
| Q2 25 | — | $0.53 | ||
| Q1 25 | — | $0.07 | ||
| Q4 24 | — | $0.50 | ||
| Q3 24 | — | $0.20 | ||
| Q2 24 | — | $0.43 |
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 | — |
| 股东权益账面价值 | $3.8B | $9.1B |
| 总资产 | $15.8B | $53.4B |
| 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ADTRITM
| Q1 26 | — | — | ||
| Q4 25 | $80.8M | $1.8B | ||
| Q3 25 | $62.8M | $1.6B | ||
| Q2 25 | $45.2M | $1.6B | ||
| Q1 25 | $3.7M | $1.5B | ||
| Q4 24 | $96.2M | $1.5B | ||
| Q3 24 | $95.3M | $1.6B | ||
| Q2 24 | $37.9M | $1.2B |
总债务ADTRITM
| Q1 26 | — | — | ||
| Q4 25 | $7.4B | $35.4B | ||
| Q3 25 | $7.3B | $32.2B | ||
| Q2 25 | $6.8B | $31.2B | ||
| Q1 25 | $7.6B | $32.2B | ||
| Q4 24 | $7.5B | $32.6B | ||
| Q3 24 | $7.5B | $29.6B | ||
| Q2 24 | $7.5B | $30.1B |
股东权益ADTRITM
| Q1 26 | — | $9.1B | ||
| Q4 25 | $3.8B | $8.4B | ||
| Q3 25 | $3.7B | $8.5B | ||
| Q2 25 | $3.7B | $7.9B | ||
| Q1 25 | $3.6B | $7.8B | ||
| Q4 24 | $3.8B | $7.8B | ||
| Q3 24 | $3.9B | $7.7B | ||
| Q2 24 | $3.8B | $7.3B |
总资产ADTRITM
| Q1 26 | — | $53.4B | ||
| Q4 25 | $15.8B | $53.1B | ||
| Q3 25 | $16.0B | $47.2B | ||
| Q2 25 | $16.0B | $44.3B | ||
| Q1 25 | $15.8B | $45.3B | ||
| Q4 24 | $16.1B | $46.0B | ||
| Q3 24 | $16.1B | $42.3B | ||
| Q2 24 | $16.0B | $42.0B |
负债/权益比ADTRITM
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 4.20× | ||
| Q3 25 | 1.99× | 3.79× | ||
| Q2 25 | 1.84× | 3.92× | ||
| Q1 25 | 2.10× | 4.14× | ||
| Q4 24 | 1.98× | 4.18× | ||
| Q3 24 | 1.93× | 3.87× | ||
| Q2 24 | 1.98× | 4.10× |
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 | — |
| 自由现金流率自由现金流/营收 | 25.4% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流ADTRITM
| Q1 26 | — | — | ||
| Q4 25 | $373.6M | $-114.6M | ||
| Q3 25 | $480.1M | $-2.0B | ||
| Q2 25 | $563.9M | $-557.1M | ||
| Q1 25 | $466.6M | $1.4B | ||
| Q4 24 | $459.7M | $-1.8B | ||
| Q3 24 | $498.2M | $768.1M | ||
| Q2 24 | $563.2M | $-55.7M |
自由现金流ADTRITM
| Q1 26 | — | — | ||
| Q4 25 | $323.5M | — | ||
| Q3 25 | $437.4M | — | ||
| Q2 25 | $526.3M | — | ||
| Q1 25 | $421.2M | — | ||
| Q4 24 | $426.0M | — | ||
| Q3 24 | $455.5M | — | ||
| Q2 24 | $516.5M | — |
自由现金流率ADTRITM
| Q1 26 | — | — | ||
| Q4 25 | 25.4% | — | ||
| Q3 25 | 33.7% | — | ||
| Q2 25 | 40.9% | — | ||
| Q1 25 | 33.2% | — | ||
| Q4 24 | 34.3% | — | ||
| Q3 24 | 36.6% | — | ||
| Q2 24 | 42.9% | — |
资本支出强度ADTRITM
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 3.9% | — |
现金转化率ADTRITM
| Q1 26 | — | — | ||
| Q4 25 | 2.57× | -1.35× | ||
| Q3 25 | 3.31× | -9.22× | ||
| Q2 25 | 3.41× | -1.79× | ||
| Q1 25 | 3.33× | 18.03× | ||
| Q4 24 | 2.42× | -6.04× | ||
| Q3 24 | 3.92× | 6.31× | ||
| Q2 24 | 6.10× | -0.24× |
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% |
RITM
| Servicing revenue, net | $375.1M | 45% |
| Other | $234.9M | 28% |
| Gain on originated residential mortgage loans, held-for-sale, net | $195.0M | 24% |
| Other revenue | $23.3M | 3% |
