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ADT Inc.（ADT）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是ADT Inc.的1.0倍（$1.3B vs $1.3B），ADT Inc.净利率更高（11.4% vs -63.1%，领先74.5%），ADT Inc.同比增速更快（2.9% vs -25.8%），ADT Inc.自由现金流更多（$323.5M vs $-1.1B），过去两年Rivian Automotive, Inc.的营收复合增速更高（3.3% 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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
ADT vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.0倍
$1.3B
营收增速更快
ADT
高出28.7%
-25.8%
净利率更高
ADT
高出74.5%
-63.1%
自由现金流更多
ADT
多$1.5B
$-1.1B
两年增速更快
RIVN
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $145.4M | $-811.0M |
| 毛利率 | — | 9.3% |
| 营业利润率 | 26.1% | -64.8% |
| 净利率 | 11.4% | -63.1% |
| 营收同比 | 2.9% | -25.8% |
| 净利润同比 | -23.5% | -9.0% |
| 每股收益（稀释后） | — | $-0.66 |
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ADTRIVN
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $1.2B | $874.0M | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.2B | $1.2B |
净利润ADTRIVN
| Q4 25 | $145.4M | $-811.0M | ||
| Q3 25 | $145.1M | $-1.2B | ||
| Q2 25 | $165.2M | $-1.1B | ||
| Q1 25 | $140.2M | $-545.0M | ||
| Q4 24 | $190.0M | $-744.0M | ||
| Q3 24 | $127.2M | $-1.1B | ||
| Q2 24 | $92.4M | $-1.5B | ||
| Q1 24 | $91.6M | $-1.4B |
毛利率ADTRIVN
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | -15.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | — | -44.9% | ||
| Q2 24 | — | -38.9% | ||
| Q1 24 | — | -43.8% |
营业利润率ADTRIVN
| Q4 25 | 26.1% | -64.8% | ||
| Q3 25 | 24.3% | -63.1% | ||
| Q2 25 | 26.6% | -85.5% | ||
| Q1 25 | 25.2% | -52.8% | ||
| Q4 24 | 32.4% | -38.1% | ||
| Q3 24 | 26.2% | -133.8% | ||
| Q2 24 | 23.6% | -118.7% | ||
| Q1 24 | 16.2% | -123.3% |
净利率ADTRIVN
| Q4 25 | 11.4% | -63.1% | ||
| Q3 25 | 11.2% | -75.3% | ||
| Q2 25 | 12.8% | -85.7% | ||
| Q1 25 | 11.1% | -44.0% | ||
| Q4 24 | 15.3% | -42.9% | ||
| Q3 24 | 10.2% | -125.9% | ||
| Q2 24 | 7.7% | -125.8% | ||
| Q1 24 | 7.6% | -120.1% |
每股收益（稀释后）ADTRIVN
| Q4 25 | — | $-0.66 | ||
| Q3 25 | — | $-0.96 | ||
| Q2 25 | — | $-0.97 | ||
| Q1 25 | — | $-0.48 | ||
| Q4 24 | — | $-0.67 | ||
| Q3 24 | — | $-1.08 | ||
| Q2 24 | — | $-1.46 | ||
| Q1 24 | — | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | $7.4B | — |
| 股东权益账面价值 | $3.8B | $4.6B |
| 总资产 | $15.8B | $14.9B |
| 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ADTRIVN
| Q4 25 | $80.8M | $6.1B | ||
| Q3 25 | $62.8M | $7.1B | ||
| Q2 25 | $45.2M | $7.5B | ||
| Q1 25 | $3.7M | $7.2B | ||
| Q4 24 | $96.2M | $7.7B | ||
| Q3 24 | $95.3M | $6.7B | ||
| Q2 24 | $37.9M | $7.9B | ||
| Q1 24 | $4.0M | $7.9B |
总债务ADTRIVN
| 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 | $5.5B | ||
| Q1 24 | $7.6B | $4.4B |
股东权益ADTRIVN
| Q4 25 | $3.8B | $4.6B | ||
| Q3 25 | $3.7B | $5.1B | ||
| Q2 25 | $3.7B | $6.1B | ||
| Q1 25 | $3.6B | $6.2B | ||
| Q4 24 | $3.8B | $6.6B | ||
| Q3 24 | $3.9B | $5.9B | ||
| Q2 24 | $3.8B | $6.8B | ||
| Q1 24 | $3.7B | $8.1B |
总资产ADTRIVN
| Q4 25 | $15.8B | $14.9B | ||
| Q3 25 | $16.0B | $15.2B | ||
| Q2 25 | $16.0B | $15.6B | ||
| Q1 25 | $15.8B | $15.5B | ||
| Q4 24 | $16.1B | $15.4B | ||
| Q3 24 | $16.1B | $14.3B | ||
| Q2 24 | $16.0B | $15.4B | ||
| Q1 24 | $15.9B | $15.7B |
负债/权益比ADTRIVN
| 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× | 0.81× | ||
| Q1 24 | 2.03× | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $-1.1B |
| 自由现金流率自由现金流/营收 | 25.4% | -89.0% |
| 资本支出强度资本支出/营收 | 3.9% | 36.0% |
| 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 | $-2.5B |
8季度趋势，按日历期对齐
经营现金流ADTRIVN
| Q4 25 | $373.6M | $-681.0M | ||
| Q3 25 | $480.1M | $26.0M | ||
| Q2 25 | $563.9M | $64.0M | ||
| Q1 25 | $466.6M | $-188.0M | ||
| Q4 24 | $459.7M | $1.2B | ||
| Q3 24 | $498.2M | $-876.0M | ||
| Q2 24 | $563.2M | $-754.0M | ||
| Q1 24 | $363.8M | $-1.3B |
自由现金流ADTRIVN
| Q4 25 | $323.5M | $-1.1B | ||
| Q3 25 | $437.4M | $-421.0M | ||
| Q2 25 | $526.3M | $-398.0M | ||
| Q1 25 | $421.2M | $-526.0M | ||
| Q4 24 | $426.0M | $856.0M | ||
| Q3 24 | $455.5M | $-1.2B | ||
| Q2 24 | $516.5M | $-1.0B | ||
| Q1 24 | $323.1M | $-1.5B |
自由现金流率ADTRIVN
| Q4 25 | 25.4% | -89.0% | ||
| Q3 25 | 33.7% | -27.0% | ||
| Q2 25 | 40.9% | -30.5% | ||
| Q1 25 | 33.2% | -42.4% | ||
| Q4 24 | 34.3% | 49.4% | ||
| Q3 24 | 36.6% | -131.9% | ||
| Q2 24 | 42.9% | -89.6% | ||
| Q1 24 | 26.7% | -126.5% |
资本支出强度ADTRIVN
| Q4 25 | 3.9% | 36.0% | ||
| Q3 25 | 3.3% | 28.7% | ||
| Q2 25 | 2.9% | 35.5% | ||
| Q1 25 | 3.6% | 27.3% | ||
| Q4 24 | 2.7% | 18.9% | ||
| Q3 24 | 3.4% | 31.7% | ||
| Q2 24 | 3.9% | 24.4% | ||
| Q1 24 | 3.4% | 21.1% |
现金转化率ADTRIVN
| Q4 25 | 2.57× | — | ||
| Q3 25 | 3.31× | — | ||
| Q2 25 | 3.41× | — | ||
| Q1 25 | 3.33× | — | ||
| Q4 24 | 2.42× | — | ||
| Q3 24 | 3.92× | — | ||
| 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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
