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ADT Inc.（ADT）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是ADT Inc.的1.3倍（$1.7B vs $1.3B），ADT Inc.净利率更高（11.4% vs 3.7%，领先7.7%），ADT Inc.同比增速更快（2.9% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $323.5M），过去两年ADT Inc.的营收复合增速更高（2.7% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
ADT vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.3倍
$1.3B
营收增速更快
ADT
高出11.9%
-9.0%
净利率更高
ADT
高出7.7%
3.7%
自由现金流更多
RUSHA
多$88.0M
$323.5M
两年增速更快
ADT
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.7B |
| 净利润 | $145.4M | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | 26.1% | 4.9% |
| 净利率 | 11.4% | 3.7% |
| 营收同比 | 2.9% | -9.0% |
| 净利润同比 | -23.5% | 1.8% |
| 每股收益（稀释后） | — | $0.77 |
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ADTRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.3B | $1.7B | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.2B | $1.9B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.2B | $1.9B |
净利润ADTRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $145.4M | $64.3M | ||
| Q3 25 | $145.1M | $66.7M | ||
| Q2 25 | $165.2M | $72.4M | ||
| Q1 25 | $140.2M | $60.3M | ||
| Q4 24 | $190.0M | $74.8M | ||
| Q3 24 | $127.2M | $79.1M | ||
| Q2 24 | $92.4M | $78.7M |
毛利率ADTRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率ADTRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 26.1% | 5.5% | ||
| Q3 25 | 24.3% | 5.6% | ||
| Q2 25 | 26.6% | 6.0% | ||
| Q1 25 | 25.2% | 5.2% | ||
| Q4 24 | 32.4% | 5.8% | ||
| Q3 24 | 26.2% | 6.7% | ||
| Q2 24 | 23.6% | 6.4% |
净利率ADTRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 11.4% | 3.8% | ||
| Q3 25 | 11.2% | 3.7% | ||
| Q2 25 | 12.8% | 3.9% | ||
| Q1 25 | 11.1% | 3.4% | ||
| Q4 24 | 15.3% | 3.9% | ||
| Q3 24 | 10.2% | 4.4% | ||
| Q2 24 | 7.7% | 4.1% |
每股收益（稀释后）ADTRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | — | $0.81 | ||
| Q3 25 | — | $0.83 | ||
| Q2 25 | — | $0.90 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $-95.13 | ||
| Q3 24 | — | $0.97 | ||
| Q2 24 | — | $97.00 |
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 | $277.8M |
| 股东权益账面价值 | $3.8B | $2.3B |
| 总资产 | $15.8B | $4.5B |
| 负债/权益比越低杠杆越低 | 1.95× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资ADTRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $80.8M | $212.6M | ||
| Q3 25 | $62.8M | $242.0M | ||
| Q2 25 | $45.2M | $211.1M | ||
| Q1 25 | $3.7M | $228.7M | ||
| Q4 24 | $96.2M | $228.1M | ||
| Q3 24 | $95.3M | $185.1M | ||
| Q2 24 | $37.9M | $167.3M |
总债务ADTRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $7.4B | $274.8M | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $6.8B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.5B | $408.4M | ||
| Q3 24 | $7.5B | — | ||
| Q2 24 | $7.5B | — |
股东权益ADTRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $3.8B | $2.2B | ||
| Q3 25 | $3.7B | $2.2B | ||
| Q2 25 | $3.7B | $2.2B | ||
| Q1 25 | $3.6B | $2.2B | ||
| Q4 24 | $3.8B | $2.1B | ||
| Q3 24 | $3.9B | $2.1B | ||
| Q2 24 | $3.8B | $2.0B |
总资产ADTRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $15.8B | $4.4B | ||
| Q3 25 | $16.0B | $4.6B | ||
| Q2 25 | $16.0B | $4.7B | ||
| Q1 25 | $15.8B | $4.7B | ||
| Q4 24 | $16.1B | $4.6B | ||
| Q3 24 | $16.1B | $4.6B | ||
| Q2 24 | $16.0B | $4.5B |
负债/权益比ADTRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 1.95× | 0.12× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | 2.10× | — | ||
| Q4 24 | 1.98× | 0.19× | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 1.98× | — |
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 | $411.6M |
| 自由现金流率自由现金流/营收 | 25.4% | 24.4% |
| 资本支出强度资本支出/营收 | 3.9% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流ADTRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $373.6M | $112.9M | ||
| Q3 25 | $480.1M | $367.8M | ||
| Q2 25 | $563.9M | $227.6M | ||
| Q1 25 | $466.6M | $153.5M | ||
| Q4 24 | $459.7M | $392.3M | ||
| Q3 24 | $498.2M | $111.7M | ||
| Q2 24 | $563.2M | $270.6M |
自由现金流ADTRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $323.5M | $31.9M | ||
| Q3 25 | $437.4M | $271.2M | ||
| Q2 25 | $526.3M | $113.8M | ||
| Q1 25 | $421.2M | $45.1M | ||
| Q4 24 | $426.0M | $263.5M | ||
| Q3 24 | $455.5M | $-20.0M | ||
| Q2 24 | $516.5M | $177.2M |
自由现金流率ADTRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 25.4% | 1.9% | ||
| Q3 25 | 33.7% | 15.2% | ||
| Q2 25 | 40.9% | 6.2% | ||
| Q1 25 | 33.2% | 2.6% | ||
| Q4 24 | 34.3% | 13.7% | ||
| Q3 24 | 36.6% | -1.1% | ||
| Q2 24 | 42.9% | 9.1% |
资本支出强度ADTRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 3.9% | 4.8% | ||
| Q3 25 | 3.3% | 5.4% | ||
| Q2 25 | 2.9% | 6.2% | ||
| Q1 25 | 3.6% | 6.2% | ||
| Q4 24 | 2.7% | 6.7% | ||
| Q3 24 | 3.4% | 7.3% | ||
| Q2 24 | 3.9% | 4.8% |
现金转化率ADTRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 2.57× | 1.75× | ||
| Q3 25 | 3.31× | 5.51× | ||
| Q2 25 | 3.41× | 3.14× | ||
| Q1 25 | 3.33× | 2.55× | ||
| Q4 24 | 2.42× | 5.25× | ||
| Q3 24 | 3.92× | 1.41× | ||
| Q2 24 | 6.10× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
