vs
AEHR TEST SYSTEMS（AEHR）与安朗杰（ALLE）财务数据对比。点击上方公司名可切换其他公司
安朗杰的季度营收约是AEHR TEST SYSTEMS的104.5倍（$1.0B vs $9.9M）。安朗杰净利率更高（14.3% vs -32.7%，领先47.0%）。安朗杰同比增速更快（9.3% vs -26.5%）。安朗杰自由现金流更多（$200.5M vs $-1.6M）。过去两年AEHR TEST SYSTEMS的营收复合增速更高（14.3% vs 7.5%）
Aehr Test Systems是全球半导体测试领域供应商，主要设计、生产和销售先进的半导体老化测试设备，服务于芯片制造商、封测厂商及芯片设计企业，产品用于逻辑芯片、存储芯片、功率半导体的可靠性验证，业务覆盖北美、亚洲、欧洲等主要市场。
安朗杰是全球知名的安防产品及解决方案供应商，面向全球生产销售机械与电子类安防产品，包括闭门器、出入口控制设备、锁具、电子门禁系统、考勤与人员效能管理系统、门体系统及相关配件，服务商业、公共机构、住宅等多领域终端用户
AEHR vs ALLE — 直观对比
营收规模更大
ALLE
是对方的104.5倍
$9.9M
营收增速更快
ALLE
高出35.8%
-26.5%
净利率更高
ALLE
高出47.0%
-32.7%
自由现金流更多
ALLE
多$202.1M
$-1.6M
两年增速更快
AEHR
近两年复合增速
7.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9M | $1.0B |
| 净利润 | $-3.2M | $147.5M |
| 毛利率 | 25.7% | 44.5% |
| 营业利润率 | -47.0% | 20.3% |
| 净利率 | -32.7% | 14.3% |
| 营收同比 | -26.5% | 9.3% |
| 净利润同比 | -214.2% | 2.4% |
| 每股收益（稀释后） | $-0.11 | $1.70 |
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AEHRALLE
| Q4 25 | $9.9M | $1.0B | ||
| Q3 25 | $11.0M | $1.1B | ||
| Q2 25 | $14.1M | $1.0B | ||
| Q1 25 | $18.3M | $941.9M | ||
| Q4 24 | $13.5M | $945.6M | ||
| Q3 24 | $13.1M | $967.1M | ||
| Q2 24 | $16.6M | $965.6M | ||
| Q1 24 | $7.6M | $893.9M |
净利润AEHRALLE
| Q4 25 | $-3.2M | $147.5M | ||
| Q3 25 | $-2.1M | $188.4M | ||
| Q2 25 | $-2.9M | $159.7M | ||
| Q1 25 | $-643.0K | $148.2M | ||
| Q4 24 | $-1.0M | $144.1M | ||
| Q3 24 | $660.0K | $174.2M | ||
| Q2 24 | $23.9M | $155.4M | ||
| Q1 24 | $-1.5M | $123.8M |
毛利率AEHRALLE
| Q4 25 | 25.7% | 44.5% | ||
| Q3 25 | 33.9% | 45.8% | ||
| Q2 25 | 30.3% | 45.6% | ||
| Q1 25 | 39.2% | 44.9% | ||
| Q4 24 | 40.1% | 44.1% | ||
| Q3 24 | 54.0% | 44.7% | ||
| Q2 24 | 50.9% | 44.4% | ||
| Q1 24 | 41.7% | 43.8% |
营业利润率AEHRALLE
| Q4 25 | -47.0% | 20.3% | ||
| Q3 25 | -37.1% | 21.8% | ||
| Q2 25 | -22.7% | 21.5% | ||
| Q1 25 | -6.1% | 20.9% | ||
| Q4 24 | -11.2% | 19.5% | ||
| Q3 24 | 1.2% | 22.2% | ||
| Q2 24 | 15.3% | 21.6% | ||
| Q1 24 | -27.1% | 19.3% |
净利率AEHRALLE
| Q4 25 | -32.7% | 14.3% | ||
| Q3 25 | -19.0% | 17.6% | ||
| Q2 25 | -20.6% | 15.6% | ||
| Q1 25 | -3.5% | 15.7% | ||
| Q4 24 | -7.6% | 15.2% | ||
| Q3 24 | 5.0% | 18.0% | ||
| Q2 24 | 143.8% | 16.1% | ||
| Q1 24 | -19.4% | 13.8% |
每股收益（稀释后）AEHRALLE
| Q4 25 | $-0.11 | $1.70 | ||
| Q3 25 | $-0.07 | $2.18 | ||
| Q2 25 | $-0.10 | $1.85 | ||
| Q1 25 | $-0.02 | $1.71 | ||
| Q4 24 | $-0.03 | $1.65 | ||
| Q3 24 | $0.02 | $1.99 | ||
| Q2 24 | $0.81 | $1.77 | ||
| Q1 24 | $-0.05 | $1.41 |
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 | $30.8M | $356.2M |
| 总债务越低越好 | — | $2.0B |
| 股东权益账面价值 | $130.8M | $2.1B |
| 总资产 | $148.7M | $5.2B |
| 负债/权益比越低杠杆越低 | — | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资AEHRALLE
| Q4 25 | $30.8M | $356.2M | ||
| Q3 25 | $22.7M | $302.7M | ||
| Q2 25 | $24.5M | $656.8M | ||
| Q1 25 | $29.4M | $494.5M | ||
| Q4 24 | $32.2M | $503.8M | ||
| Q3 24 | $37.8M | $878.9M | ||
| Q2 24 | $49.2M | $747.5M | ||
| Q1 24 | $47.6M | $391.8M |
总债务AEHRALLE
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.0B |
股东权益AEHRALLE
| Q4 25 | $130.8M | $2.1B | ||
| Q3 25 | $122.4M | $1.9B | ||
| Q2 25 | $122.9M | $1.8B | ||
| Q1 25 | $124.2M | $1.6B | ||
| Q4 24 | $123.2M | $1.5B | ||
| Q3 24 | $122.5M | $1.6B | ||
| Q2 24 | $111.6M | $1.4B | ||
| Q1 24 | $86.5M | $1.4B |
总资产AEHRALLE
| Q4 25 | $148.7M | $5.2B | ||
| Q3 25 | $144.1M | $5.2B | ||
| Q2 25 | $148.5M | $4.9B | ||
| Q1 25 | $145.6M | $4.6B | ||
| Q4 24 | $142.3M | $4.5B | ||
| Q3 24 | $145.9M | $5.0B | ||
| Q2 24 | $127.9M | $4.8B | ||
| Q1 24 | $101.6M | $4.3B |
负债/权益比AEHRALLE
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | — | 1.33× | ||
| Q3 24 | — | 1.53× | ||
| Q2 24 | — | 1.69× | ||
| Q1 24 | — | 1.49× |
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 | $-1.2M | $240.1M |
| 自由现金流经营现金流 - 资本支出 | $-1.6M | $200.5M |
| 自由现金流率自由现金流/营收 | -16.6% | 19.4% |
| 资本支出强度资本支出/营收 | 4.7% | 3.8% |
| 现金转化率经营现金流/净利润 | — | 1.63× |
| 过去12个月自由现金流最近4个季度 | $-11.7M | $685.7M |
8季度趋势，按日历期对齐
经营现金流AEHRALLE
| Q4 25 | $-1.2M | $240.1M | ||
| Q3 25 | $-282.0K | $229.5M | ||
| Q2 25 | $-2.3M | $209.7M | ||
| Q1 25 | $-1.6M | $104.5M | ||
| Q4 24 | $-5.9M | $219.0M | ||
| Q3 24 | $2.4M | $231.9M | ||
| Q2 24 | $1.2M | $173.0M | ||
| Q1 24 | $-2.8M | $51.1M |
自由现金流AEHRALLE
| Q4 25 | $-1.6M | $200.5M | ||
| Q3 25 | $-1.7M | $209.8M | ||
| Q2 25 | $-5.1M | $192.0M | ||
| Q1 25 | $-3.3M | $83.4M | ||
| Q4 24 | $-6.2M | $194.9M | ||
| Q3 24 | $2.2M | $212.0M | ||
| Q2 24 | $1.2M | $152.1M | ||
| Q1 24 | $-3.1M | $23.9M |
自由现金流率AEHRALLE
| Q4 25 | -16.6% | 19.4% | ||
| Q3 25 | -15.3% | 19.6% | ||
| Q2 25 | -36.3% | 18.8% | ||
| Q1 25 | -17.8% | 8.9% | ||
| Q4 24 | -46.0% | 20.6% | ||
| Q3 24 | 16.6% | 21.9% | ||
| Q2 24 | 7.1% | 15.8% | ||
| Q1 24 | -40.8% | 2.7% |
资本支出强度AEHRALLE
| Q4 25 | 4.7% | 3.8% | ||
| Q3 25 | 12.7% | 1.8% | ||
| Q2 25 | 20.0% | 1.7% | ||
| Q1 25 | 9.0% | 2.2% | ||
| Q4 24 | 2.4% | 2.5% | ||
| Q3 24 | 1.5% | 2.1% | ||
| Q2 24 | 0.3% | 2.2% | ||
| Q1 24 | 3.5% | 3.0% |
现金转化率AEHRALLE
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.22× | ||
| Q2 25 | — | 1.31× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | 3.61× | 1.33× | ||
| Q2 24 | 0.05× | 1.11× | ||
| Q1 24 | — | 0.41× |
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
AEHR
| Systems | $5.0M | 50% |
| Contactors | $3.4M | 35% |
| Services | $1.5M | 15% |
ALLE
| Products | $750.2M | 73% |
| Allegion International | $237.7M | 23% |
| Services | $45.2M | 4% |
