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APPLIED INDUSTRIAL TECHNOLOGIES INC（AIT）与斑马技术（ZBRA）财务数据对比。点击上方公司名可切换其他公司
斑马技术的季度营收约是APPLIED INDUSTRIAL TECHNOLOGIES INC的1.3倍（$1.5B vs $1.2B），APPLIED INDUSTRIAL TECHNOLOGIES INC净利率更高（8.2% vs 4.7%，领先3.5%），斑马技术同比增速更快（10.6% vs 8.4%），斑马技术自由现金流更多（$327.0M vs $93.4M），过去两年斑马技术的营收复合增速更高（12.0% vs 0.7%）
AIT（Applied Industrial Technologies Inc）是总部位于美国的全球化上市工业企业，主营轴承、动力传动产品、工程级流体动力组件及系统、特种流量控制产品等工业用品分销，同时为工业及流体动力应用场景提供工程设计、系统集成及定制化配套服务。
斑马技术（Zebra Technologies）是源自美国的跨国科技企业，专注于智能数据采集系统领域的研发与落地。公司总部位于芝加哥郊外的伊利诺伊州林肯郡，目前在全球57个国家和地区开展业务，雇员总数达10700名。
AIT vs ZBRA — 直观对比
营收规模更大
ZBRA
是对方的1.3倍
$1.2B
营收增速更快
ZBRA
高出2.2%
8.4%
净利率更高
AIT
高出3.5%
4.7%
自由现金流更多
ZBRA
多$233.6M
$93.4M
两年增速更快
ZBRA
近两年复合增速
0.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.5B |
| 净利润 | $95.3M | $70.0M |
| 毛利率 | 30.4% | 47.3% |
| 营业利润率 | 10.6% | 9.4% |
| 净利率 | 8.2% | 4.7% |
| 营收同比 | 8.4% | 10.6% |
| 净利润同比 | 2.2% | -57.1% |
| 每股收益（稀释后） | $2.51 | $1.40 |
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AITZBRA
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.1B | $1.2B |
净利润AITZBRA
| Q4 25 | $95.3M | $70.0M | ||
| Q3 25 | $100.8M | $101.0M | ||
| Q2 25 | $107.8M | $112.0M | ||
| Q1 25 | $99.8M | $136.0M | ||
| Q4 24 | $93.3M | $163.0M | ||
| Q3 24 | $92.1M | $137.0M | ||
| Q2 24 | $103.5M | $113.0M | ||
| Q1 24 | $97.2M | $115.0M |
毛利率AITZBRA
| Q4 25 | 30.4% | 47.3% | ||
| Q3 25 | 30.1% | 48.0% | ||
| Q2 25 | 30.6% | 47.6% | ||
| Q1 25 | 30.5% | 49.3% | ||
| Q4 24 | 30.6% | 48.6% | ||
| Q3 24 | 29.6% | 48.8% | ||
| Q2 24 | 30.7% | 48.4% | ||
| Q1 24 | 29.5% | 47.9% |
营业利润率AITZBRA
| Q4 25 | 10.6% | 9.4% | ||
| Q3 25 | 10.8% | 13.9% | ||
| Q2 25 | 11.0% | 14.2% | ||
| Q1 25 | 11.1% | 14.9% | ||
| Q4 24 | 11.3% | 16.9% | ||
| Q3 24 | 10.3% | 15.2% | ||
| Q2 24 | 12.0% | 13.7% | ||
| Q1 24 | 10.6% | 13.5% |
净利率AITZBRA
| Q4 25 | 8.2% | 4.7% | ||
| Q3 25 | 8.4% | 7.7% | ||
| Q2 25 | 8.8% | 8.7% | ||
| Q1 25 | 8.6% | 10.4% | ||
| Q4 24 | 8.7% | 12.2% | ||
| Q3 24 | 8.4% | 10.9% | ||
| Q2 24 | 8.9% | 9.3% | ||
| Q1 24 | 8.5% | 9.8% |
每股收益（稀释后）AITZBRA
| Q4 25 | $2.51 | $1.40 | ||
| Q3 25 | $2.63 | $1.97 | ||
| Q2 25 | $2.80 | $2.19 | ||
| Q1 25 | $2.57 | $2.62 | ||
| Q4 24 | $2.39 | $3.14 | ||
| Q3 24 | $2.36 | $2.64 | ||
| Q2 24 | $2.64 | $2.17 | ||
| Q1 24 | $2.48 | $2.23 |
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 | $406.0M | $125.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.9B | $3.6B |
| 总资产 | $3.2B | $8.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AITZBRA
| Q4 25 | $406.0M | $125.0M | ||
| Q3 25 | $418.7M | $1.1B | ||
| Q2 25 | $388.4M | $872.0M | ||
| Q1 25 | $352.8M | $879.0M | ||
| Q4 24 | $303.4M | $901.0M | ||
| Q3 24 | $538.5M | $676.0M | ||
| Q2 24 | $460.6M | $411.0M | ||
| Q1 24 | $456.5M | $127.0M |
总债务AITZBRA
| Q4 25 | — | — | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
股东权益AITZBRA
| Q4 25 | $1.9B | $3.6B | ||
| Q3 25 | $1.9B | $3.7B | ||
| Q2 25 | $1.8B | $3.6B | ||
| Q1 25 | $1.8B | $3.6B | ||
| Q4 24 | $1.8B | $3.6B | ||
| Q3 24 | $1.8B | $3.4B | ||
| Q2 24 | $1.7B | $3.3B | ||
| Q1 24 | $1.7B | $3.2B |
总资产AITZBRA
| Q4 25 | $3.2B | $8.5B | ||
| Q3 25 | $3.2B | $8.1B | ||
| Q2 25 | $3.2B | $7.9B | ||
| Q1 25 | $3.1B | $7.9B | ||
| Q4 24 | $3.0B | $8.0B | ||
| Q3 24 | $3.0B | $7.7B | ||
| Q2 24 | $3.0B | $7.5B | ||
| Q1 24 | $2.9B | $7.3B |
负债/权益比AITZBRA
| Q4 25 | — | — | ||
| Q3 25 | — | 0.58× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.66× | ||
| Q1 24 | — | 0.66× |
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 | $99.7M | $357.0M |
| 自由现金流经营现金流 - 资本支出 | $93.4M | $327.0M |
| 自由现金流率自由现金流/营收 | 8.0% | 22.2% |
| 资本支出强度资本支出/营收 | 0.5% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.05× | 5.10× |
| 过去12个月自由现金流最近4个季度 | $458.5M | $831.0M |
8季度趋势，按日历期对齐
经营现金流AITZBRA
| Q4 25 | $99.7M | $357.0M | ||
| Q3 25 | $119.3M | $235.0M | ||
| Q2 25 | $147.0M | $147.0M | ||
| Q1 25 | $122.5M | $178.0M | ||
| Q4 24 | $95.1M | $306.0M | ||
| Q3 24 | $127.7M | $294.0M | ||
| Q2 24 | $119.2M | $288.0M | ||
| Q1 24 | $84.2M | $125.0M |
自由现金流AITZBRA
| Q4 25 | $93.4M | $327.0M | ||
| Q3 25 | $112.0M | $216.0M | ||
| Q2 25 | $138.2M | $130.0M | ||
| Q1 25 | $114.9M | $158.0M | ||
| Q4 24 | $89.9M | $288.0M | ||
| Q3 24 | $122.2M | $277.0M | ||
| Q2 24 | $111.7M | $278.0M | ||
| Q1 24 | $76.7M | $111.0M |
自由现金流率AITZBRA
| Q4 25 | 8.0% | 22.2% | ||
| Q3 25 | 9.3% | 16.4% | ||
| Q2 25 | 11.3% | 10.1% | ||
| Q1 25 | 9.8% | 12.1% | ||
| Q4 24 | 8.4% | 21.6% | ||
| Q3 24 | 11.1% | 22.1% | ||
| Q2 24 | 9.6% | 22.8% | ||
| Q1 24 | 6.7% | 9.4% |
资本支出强度AITZBRA
| Q4 25 | 0.5% | 2.0% | ||
| Q3 25 | 0.6% | 1.4% | ||
| Q2 25 | 0.7% | 1.3% | ||
| Q1 25 | 0.6% | 1.5% | ||
| Q4 24 | 0.5% | 1.3% | ||
| Q3 24 | 0.5% | 1.4% | ||
| Q2 24 | 0.6% | 0.8% | ||
| Q1 24 | 0.7% | 1.2% |
现金转化率AITZBRA
| Q4 25 | 1.05× | 5.10× | ||
| Q3 25 | 1.18× | 2.33× | ||
| Q2 25 | 1.36× | 1.31× | ||
| Q1 25 | 1.23× | 1.31× | ||
| Q4 24 | 1.02× | 1.88× | ||
| Q3 24 | 1.39× | 2.15× | ||
| Q2 24 | 1.15× | 2.55× | ||
| Q1 24 | 0.87× | 1.09× |
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
AIT
| Service Center Based Distribution Segment | $625.2M | 54% |
| Engineered Solutions Segment | $398.9M | 34% |
| Other | $75.8M | 7% |
| Hydradyne LLC | $63.1M | 5% |
ZBRA
| Tangible Products | $1.2B | 83% |
| Service And Software | $255.0M | 17% |
