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阿特拉斯·科普柯（AESI）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
阿特拉斯·科普柯的季度营收约是Rocket Lab Corp的1.4倍（$249.4M vs $179.7M），阿特拉斯·科普柯净利率更高（-8.9% vs -29.5%，领先20.5%），Rocket Lab Corp同比增速更快（35.7% vs -8.1%），阿特拉斯·科普柯自由现金流更多（$-18.1M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 13.8%）
阿特拉斯·科普柯集团是瑞典跨国工业企业，生产压缩机、真空设备、泵、发电机、装配工具、质量检测设备等工业应用及移动发电领域的产品与系统，业务覆盖全球约180个国家。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
AESI vs RKLB — 直观对比
营收规模更大
AESI
是对方的1.4倍
$179.7M
营收增速更快
RKLB
高出43.8%
-8.1%
净利率更高
AESI
高出20.5%
-29.5%
自由现金流更多
AESI
多$96.1M
$-114.2M
两年增速更快
RKLB
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $249.4M | $179.7M |
| 净利润 | $-22.2M | $-52.9M |
| 毛利率 | 8.1% | 38.0% |
| 营业利润率 | -6.0% | -28.4% |
| 净利率 | -8.9% | -29.5% |
| 营收同比 | -8.1% | 35.7% |
| 净利润同比 | -254.5% | -1.1% |
| 每股收益（稀释后） | $-0.19 | $-0.09 |
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AESIRKLB
| Q4 25 | $249.4M | $179.7M | ||
| Q3 25 | $259.6M | $155.1M | ||
| Q2 25 | $288.7M | $144.5M | ||
| Q1 25 | $297.6M | $122.6M | ||
| Q4 24 | $271.3M | $132.4M | ||
| Q3 24 | $304.4M | $104.8M | ||
| Q2 24 | $287.5M | $106.3M | ||
| Q1 24 | $192.7M | $92.8M |
净利润AESIRKLB
| Q4 25 | $-22.2M | $-52.9M | ||
| Q3 25 | $-23.7M | $-18.3M | ||
| Q2 25 | $-5.6M | $-66.4M | ||
| Q1 25 | $1.2M | $-60.6M | ||
| Q4 24 | $14.4M | $-52.3M | ||
| Q3 24 | $3.9M | $-51.9M | ||
| Q2 24 | $14.8M | $-41.6M | ||
| Q1 24 | $26.8M | $-44.3M |
毛利率AESIRKLB
| Q4 25 | 8.1% | 38.0% | ||
| Q3 25 | 9.2% | 37.0% | ||
| Q2 25 | 18.1% | 32.1% | ||
| Q1 25 | 18.3% | 28.8% | ||
| Q4 24 | 18.4% | 27.8% | ||
| Q3 24 | 17.4% | 26.7% | ||
| Q2 24 | 21.0% | 25.6% | ||
| Q1 24 | 35.7% | 26.1% |
营业利润率AESIRKLB
| Q4 25 | -6.0% | -28.4% | ||
| Q3 25 | -7.1% | -38.0% | ||
| Q2 25 | 2.5% | -41.3% | ||
| Q1 25 | 5.2% | -48.3% | ||
| Q4 24 | 11.3% | -38.9% | ||
| Q3 24 | 5.0% | -49.5% | ||
| Q2 24 | 9.8% | -40.7% | ||
| Q1 24 | 20.6% | -46.4% |
净利率AESIRKLB
| Q4 25 | -8.9% | -29.5% | ||
| Q3 25 | -9.1% | -11.8% | ||
| Q2 25 | -1.9% | -46.0% | ||
| Q1 25 | 0.4% | -49.5% | ||
| Q4 24 | 5.3% | -39.5% | ||
| Q3 24 | 1.3% | -49.6% | ||
| Q2 24 | 5.2% | -39.2% | ||
| Q1 24 | 13.9% | -47.7% |
每股收益（稀释后）AESIRKLB
| Q4 25 | $-0.19 | $-0.09 | ||
| Q3 25 | $-0.19 | $-0.03 | ||
| Q2 25 | $-0.04 | $-0.13 | ||
| Q1 25 | $0.01 | $-0.12 | ||
| Q4 24 | $0.12 | $-0.11 | ||
| Q3 24 | $0.04 | $-0.10 | ||
| Q2 24 | $0.13 | $-0.08 | ||
| Q1 24 | $0.26 | $-0.09 |
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 | — | $1.0B |
| 总债务越低越好 | $604.2M | $152.4M |
| 股东权益账面价值 | $1.2B | $1.7B |
| 总资产 | $2.2B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.50× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资AESIRKLB
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $976.7M | ||
| Q2 25 | — | $688.1M | ||
| Q1 25 | — | $428.4M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | — | $442.4M | ||
| Q2 24 | — | $496.8M | ||
| Q1 24 | — | $492.5M |
总债务AESIRKLB
| Q4 25 | $604.2M | $152.4M | ||
| Q3 25 | $529.1M | $347.0M | ||
| Q2 25 | $533.8M | $346.5M | ||
| Q1 25 | $538.5M | $345.9M | ||
| Q4 24 | $0 | $345.4M | ||
| Q3 24 | $180.0M | $61.2M | ||
| Q2 24 | $180.0M | $64.2M | ||
| Q1 24 | $180.0M | $66.8M |
股东权益AESIRKLB
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.3B | $688.5M | ||
| Q1 25 | $1.3B | $431.3M | ||
| Q4 24 | $1.0B | $382.5M | ||
| Q3 24 | $1.0B | $419.8M | ||
| Q2 24 | $1.1B | $455.2M | ||
| Q1 24 | $1.1B | $478.9M |
总资产AESIRKLB
| Q4 25 | $2.2B | $2.3B | ||
| Q3 25 | $2.2B | $2.2B | ||
| Q2 25 | $2.2B | $1.6B | ||
| Q1 25 | $2.3B | $1.3B | ||
| Q4 24 | $2.0B | $1.2B | ||
| Q3 24 | $2.0B | $1.2B | ||
| Q2 24 | $2.0B | $1.2B | ||
| Q1 24 | $1.9B | $1.2B |
负债/权益比AESIRKLB
| Q4 25 | 0.50× | 0.09× | ||
| Q3 25 | 0.43× | 0.27× | ||
| Q2 25 | 0.42× | 0.50× | ||
| Q1 25 | 0.41× | 0.80× | ||
| Q4 24 | 0.00× | 0.90× | ||
| Q3 24 | 0.17× | 0.15× | ||
| Q2 24 | 0.17× | 0.14× | ||
| Q1 24 | 0.17× | 0.14× |
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 | $3.7M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $-18.1M | $-114.2M |
| 自由现金流率自由现金流/营收 | -7.3% | -63.6% |
| 资本支出强度资本支出/营收 | 8.7% | 27.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-30.9M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流AESIRKLB
| Q4 25 | $3.7M | $-64.5M | ||
| Q3 25 | $32.4M | $-23.5M | ||
| Q2 25 | $88.6M | $-23.2M | ||
| Q1 25 | $-7.5M | $-54.2M | ||
| Q4 24 | $70.9M | $-2.4M | ||
| Q3 24 | $85.2M | $-30.9M | ||
| Q2 24 | $60.9M | $-13.0M | ||
| Q1 24 | $39.6M | $-2.6M |
自由现金流AESIRKLB
| Q4 25 | $-18.1M | $-114.2M | ||
| Q3 25 | $-1.4M | $-69.4M | ||
| Q2 25 | $48.4M | $-55.3M | ||
| Q1 25 | $-59.8M | $-82.9M | ||
| Q4 24 | $-5.6M | $-23.9M | ||
| Q3 24 | $-1.1M | $-41.9M | ||
| Q2 24 | $-54.9M | $-28.3M | ||
| Q1 24 | $-55.9M | $-21.8M |
自由现金流率AESIRKLB
| Q4 25 | -7.3% | -63.6% | ||
| Q3 25 | -0.5% | -44.8% | ||
| Q2 25 | 16.8% | -38.3% | ||
| Q1 25 | -20.1% | -67.6% | ||
| Q4 24 | -2.1% | -18.1% | ||
| Q3 24 | -0.4% | -40.0% | ||
| Q2 24 | -19.1% | -26.7% | ||
| Q1 24 | -29.0% | -23.5% |
资本支出强度AESIRKLB
| Q4 25 | 8.7% | 27.6% | ||
| Q3 25 | 13.0% | 29.6% | ||
| Q2 25 | 13.9% | 22.2% | ||
| Q1 25 | 17.6% | 23.4% | ||
| Q4 24 | 28.2% | 16.3% | ||
| Q3 24 | 28.3% | 10.5% | ||
| Q2 24 | 40.3% | 14.4% | ||
| Q1 24 | 49.6% | 20.7% |
现金转化率AESIRKLB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -6.11× | — | ||
| Q4 24 | 4.92× | — | ||
| Q3 24 | 21.74× | — | ||
| Q2 24 | 4.10× | — | ||
| Q1 24 | 1.48× | — |
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
AESI
| Services | $126.2M | 51% |
| Products | $105.2M | 42% |
| Moser Acquisition | $18.1M | 7% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
