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ADT Inc.（ADT）与TEREX CORP（TEX）财务数据对比。点击上方公司名可切换其他公司
TEREX CORP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 4.8%，领先6.6%），TEREX CORP同比增速更快（6.2% vs 2.9%），ADT Inc.自由现金流更多（$323.5M vs $171.0M），过去两年ADT Inc.的营收复合增速更高（2.7% vs 1.0%）
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。
特雷克斯公司是美国知名的设备制造企业，业务遍布美洲、欧洲、澳大利亚及亚太地区，主营物料加工机械、废弃物回收处理设备、移动式高空作业平台，以及电力行业专用设备，为全球多领域客户提供专业解决方案。
ADT vs TEX — 直观对比
营收规模更大
TEX
是对方的1.0倍
$1.3B
营收增速更快
TEX
高出3.4%
2.9%
净利率更高
ADT
高出6.6%
4.8%
自由现金流更多
ADT
多$152.5M
$171.0M
两年增速更快
ADT
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $145.4M | $63.0M |
| 毛利率 | — | 18.8% |
| 营业利润率 | 26.1% | 10.4% |
| 净利率 | 11.4% | 4.8% |
| 营收同比 | 2.9% | 6.2% |
| 净利润同比 | -23.5% | 2963.6% |
| 每股收益（稀释后） | — | $0.95 |
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ADTTEX
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.4B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.2B | $1.4B | ||
| Q1 24 | $1.2B | $1.3B |
净利润ADTTEX
| Q4 25 | $145.4M | $63.0M | ||
| Q3 25 | $145.1M | $65.0M | ||
| Q2 25 | $165.2M | $72.0M | ||
| Q1 25 | $140.2M | $21.0M | ||
| Q4 24 | $190.0M | $-2.2M | ||
| Q3 24 | $127.2M | $88.0M | ||
| Q2 24 | $92.4M | $140.7M | ||
| Q1 24 | $91.6M | $108.5M |
毛利率ADTTEX
| Q4 25 | — | 18.8% | ||
| Q3 25 | — | 20.3% | ||
| Q2 25 | — | 19.6% | ||
| Q1 25 | — | 18.7% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 20.2% | ||
| Q2 24 | — | 23.8% | ||
| Q1 24 | — | 23.0% |
营业利润率ADTTEX
| Q4 25 | 26.1% | 10.4% | ||
| Q3 25 | 24.3% | 10.1% | ||
| Q2 25 | 26.6% | 8.7% | ||
| Q1 25 | 25.2% | 5.6% | ||
| Q4 24 | 32.4% | 4.2% | ||
| Q3 24 | 26.2% | 10.1% | ||
| Q2 24 | 23.6% | 14.0% | ||
| Q1 24 | 16.2% | 12.2% |
净利率ADTTEX
| Q4 25 | 11.4% | 4.8% | ||
| Q3 25 | 11.2% | 4.7% | ||
| Q2 25 | 12.8% | 4.8% | ||
| Q1 25 | 11.1% | 1.7% | ||
| Q4 24 | 15.3% | -0.2% | ||
| Q3 24 | 10.2% | 7.3% | ||
| Q2 24 | 7.7% | 10.2% | ||
| Q1 24 | 7.6% | 8.4% |
每股收益（稀释后）ADTTEX
| Q4 25 | — | $0.95 | ||
| Q3 25 | — | $0.98 | ||
| Q2 25 | — | $1.09 | ||
| Q1 25 | — | $0.31 | ||
| Q4 24 | — | $-0.03 | ||
| Q3 24 | — | $1.31 | ||
| Q2 24 | — | $2.08 | ||
| Q1 24 | — | $1.60 |
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 | $772.0M |
| 总债务越低越好 | $7.4B | $2.6B |
| 股东权益账面价值 | $3.8B | $2.1B |
| 总资产 | $15.8B | $6.1B |
| 负债/权益比越低杠杆越低 | 1.95× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资ADTTEX
| Q4 25 | $80.8M | $772.0M | ||
| Q3 25 | $62.8M | $509.0M | ||
| Q2 25 | $45.2M | $374.0M | ||
| Q1 25 | $3.7M | $298.0M | ||
| Q4 24 | $96.2M | $388.0M | ||
| Q3 24 | $95.3M | $352.0M | ||
| Q2 24 | $37.9M | $319.3M | ||
| Q1 24 | $4.0M | $364.9M |
总债务ADTTEX
| Q4 25 | $7.4B | $2.6B | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $6.8B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.5B | $2.6B | ||
| Q3 24 | $7.5B | — | ||
| Q2 24 | $7.5B | — | ||
| Q1 24 | $7.6B | — |
股东权益ADTTEX
| Q4 25 | $3.8B | $2.1B | ||
| Q3 25 | $3.7B | $2.0B | ||
| Q2 25 | $3.7B | $2.0B | ||
| Q1 25 | $3.6B | $1.8B | ||
| Q4 24 | $3.8B | $1.8B | ||
| Q3 24 | $3.9B | $2.0B | ||
| Q2 24 | $3.8B | $1.8B | ||
| Q1 24 | $3.7B | $1.7B |
总资产ADTTEX
| Q4 25 | $15.8B | $6.1B | ||
| Q3 25 | $16.0B | $6.2B | ||
| Q2 25 | $16.0B | $6.2B | ||
| Q1 25 | $15.8B | $5.8B | ||
| Q4 24 | $16.1B | $5.7B | ||
| Q3 24 | $16.1B | $3.8B | ||
| Q2 24 | $16.0B | $3.8B | ||
| Q1 24 | $15.9B | $3.8B |
负债/权益比ADTTEX
| Q4 25 | 1.95× | 1.23× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | 2.10× | — | ||
| Q4 24 | 1.98× | 1.41× | ||
| 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 | $205.0M |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $171.0M |
| 自由现金流率自由现金流/营收 | 25.4% | 13.0% |
| 资本支出强度资本支出/营收 | 3.9% | 2.6% |
| 现金转化率经营现金流/净利润 | 2.57× | 3.25× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $322.0M |
8季度趋势，按日历期对齐
经营现金流ADTTEX
| Q4 25 | $373.6M | $205.0M | ||
| Q3 25 | $480.1M | $154.0M | ||
| Q2 25 | $563.9M | $102.0M | ||
| Q1 25 | $466.6M | $-21.0M | ||
| Q4 24 | $459.7M | $177.0M | ||
| Q3 24 | $498.2M | $116.4M | ||
| Q2 24 | $563.2M | $66.5M | ||
| Q1 24 | $363.8M | $-33.9M |
自由现金流ADTTEX
| Q4 25 | $323.5M | $171.0M | ||
| Q3 25 | $437.4M | $130.0M | ||
| Q2 25 | $526.3M | $78.0M | ||
| Q1 25 | $421.2M | $-57.0M | ||
| Q4 24 | $426.0M | $128.0M | ||
| Q3 24 | $455.5M | $87.4M | ||
| Q2 24 | $516.5M | $42.5M | ||
| Q1 24 | $323.1M | $-68.9M |
自由现金流率ADTTEX
| Q4 25 | 25.4% | 13.0% | ||
| Q3 25 | 33.7% | 9.4% | ||
| Q2 25 | 40.9% | 5.2% | ||
| Q1 25 | 33.2% | -4.6% | ||
| Q4 24 | 34.3% | 10.3% | ||
| Q3 24 | 36.6% | 7.2% | ||
| Q2 24 | 42.9% | 3.1% | ||
| Q1 24 | 26.7% | -5.3% |
资本支出强度ADTTEX
| Q4 25 | 3.9% | 2.6% | ||
| Q3 25 | 3.3% | 1.7% | ||
| Q2 25 | 2.9% | 1.6% | ||
| Q1 25 | 3.6% | 2.9% | ||
| Q4 24 | 2.7% | 3.9% | ||
| Q3 24 | 3.4% | 2.4% | ||
| Q2 24 | 3.9% | 1.7% | ||
| Q1 24 | 3.4% | 2.7% |
现金转化率ADTTEX
| Q4 25 | 2.57× | 3.25× | ||
| Q3 25 | 3.31× | 2.37× | ||
| Q2 25 | 3.41× | 1.42× | ||
| Q1 25 | 3.33× | -1.00× | ||
| Q4 24 | 2.42× | — | ||
| Q3 24 | 3.92× | 1.32× | ||
| Q2 24 | 6.10× | 0.47× | ||
| Q1 24 | 3.97× | -0.31× |
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% |
TEX
| Aerials Segment | $466.0M | 35% |
| Materials Processing Segment | $428.0M | 32% |
| Materials Processing Equipment | $279.0M | 21% |
| Specialty Equipment | $148.0M | 11% |
