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爱齐科技（ALGN）与Deckers Brands（DECK）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是爱齐科技的1.9倍（$2.0B vs $1.0B），Deckers Brands净利率更高（24.6% vs 13.0%，领先11.6%），Deckers Brands同比增速更快（7.1% vs 5.3%），Deckers Brands自由现金流更多（$1.0B vs $187.3M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 2.5%）
爱齐科技是一家全球知名医疗设备企业，主营设计、生产及销售隐适美透明矫治器、iTero口内扫描仪及配套服务，客户覆盖正畸医师、全科牙医，面向修复、美容牙科领域，业务分为透明矫治器、扫描仪及服务两大板块，可满足青少年等不同群体的正畸需求
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
ALGN vs DECK — 直观对比
营收规模更大
DECK
是对方的1.9倍
$1.0B
营收增速更快
DECK
高出1.9%
5.3%
净利率更高
DECK
高出11.6%
13.0%
自由现金流更多
DECK
多$833.0M
$187.3M
两年增速更快
DECK
近两年复合增速
2.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $2.0B |
| 净利润 | $135.8M | $481.1M |
| 毛利率 | 65.3% | 59.8% |
| 营业利润率 | 14.8% | 31.4% |
| 净利率 | 13.0% | 24.6% |
| 营收同比 | 5.3% | 7.1% |
| 净利润同比 | 30.8% | 5.3% |
| 每股收益（稀释后） | $1.88 | $3.33 |
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ALGNDECK
| Q4 25 | $1.0B | $2.0B | ||
| Q3 25 | $995.7M | $1.4B | ||
| Q2 25 | $1.0B | $964.5M | ||
| Q1 25 | $979.3M | $1.0B | ||
| Q4 24 | $995.2M | $1.8B | ||
| Q3 24 | $977.9M | $1.3B | ||
| Q2 24 | $1.0B | $825.3M | ||
| Q1 24 | $997.4M | $959.8M |
净利润ALGNDECK
| Q4 25 | $135.8M | $481.1M | ||
| Q3 25 | $56.8M | $268.2M | ||
| Q2 25 | $124.6M | $139.2M | ||
| Q1 25 | $93.2M | $151.4M | ||
| Q4 24 | $103.8M | $456.7M | ||
| Q3 24 | $116.0M | $242.3M | ||
| Q2 24 | $96.6M | $115.6M | ||
| Q1 24 | $105.0M | $127.5M |
毛利率ALGNDECK
| Q4 25 | 65.3% | 59.8% | ||
| Q3 25 | 64.2% | 56.2% | ||
| Q2 25 | 69.9% | 55.8% | ||
| Q1 25 | 69.5% | 56.7% | ||
| Q4 24 | 70.0% | 60.3% | ||
| Q3 24 | 69.7% | 55.9% | ||
| Q2 24 | 70.3% | 56.9% | ||
| Q1 24 | 70.0% | 56.2% |
营业利润率ALGNDECK
| Q4 25 | 14.8% | 31.4% | ||
| Q3 25 | 9.7% | 22.8% | ||
| Q2 25 | 16.1% | 17.1% | ||
| Q1 25 | 13.4% | 17.0% | ||
| Q4 24 | 14.5% | 31.0% | ||
| Q3 24 | 16.6% | 23.3% | ||
| Q2 24 | 14.3% | 16.1% | ||
| Q1 24 | 15.5% | 15.0% |
净利率ALGNDECK
| Q4 25 | 13.0% | 24.6% | ||
| Q3 25 | 5.7% | 18.7% | ||
| Q2 25 | 12.3% | 14.4% | ||
| Q1 25 | 9.5% | 14.8% | ||
| Q4 24 | 10.4% | 25.0% | ||
| Q3 24 | 11.9% | 18.5% | ||
| Q2 24 | 9.4% | 14.0% | ||
| Q1 24 | 10.5% | 13.3% |
每股收益（稀释后）ALGNDECK
| Q4 25 | $1.88 | $3.33 | ||
| Q3 25 | $0.78 | $1.82 | ||
| Q2 25 | $1.72 | $0.93 | ||
| Q1 25 | $1.27 | $-2.78 | ||
| Q4 24 | $1.40 | $3.00 | ||
| Q3 24 | $1.55 | $1.59 | ||
| Q2 24 | $1.28 | $4.52 | ||
| Q1 24 | $1.39 | $4.82 |
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 | $1.1B | $2.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.0B | $2.6B |
| 总资产 | $6.2B | $4.1B |
| 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ALGNDECK
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $1.0B | $1.4B | ||
| Q2 25 | $901.2M | $1.7B | ||
| Q1 25 | $873.0M | $1.9B | ||
| Q4 24 | $1.0B | $2.2B | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $761.4M | $1.4B | ||
| Q1 24 | $865.8M | $1.5B |
股东权益ALGNDECK
| Q4 25 | $4.0B | $2.6B | ||
| Q3 25 | $4.0B | $2.5B | ||
| Q2 25 | $3.9B | $2.5B | ||
| Q1 25 | $3.8B | $2.5B | ||
| Q4 24 | $3.9B | $2.6B | ||
| Q3 24 | $3.9B | $2.2B | ||
| Q2 24 | $3.8B | $2.1B | ||
| Q1 24 | $3.8B | $2.1B |
总资产ALGNDECK
| Q4 25 | $6.2B | $4.1B | ||
| Q3 25 | $6.2B | $3.8B | ||
| Q2 25 | $6.2B | $3.8B | ||
| Q1 25 | $6.1B | $3.6B | ||
| Q4 24 | $6.2B | $4.0B | ||
| Q3 24 | $6.4B | $3.4B | ||
| Q2 24 | $6.2B | $3.3B | ||
| Q1 24 | $6.2B | $3.1B |
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 | $223.2M | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $187.3M | $1.0B |
| 自由现金流率自由现金流/营收 | 17.9% | 52.1% |
| 资本支出强度资本支出/营收 | 3.4% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.64× | 2.17× |
| 过去12个月自由现金流最近4个季度 | $490.8M | $929.1M |
8季度趋势，按日历期对齐
经营现金流ALGNDECK
| Q4 25 | $223.2M | $1.0B | ||
| Q3 25 | $188.7M | $8.1M | ||
| Q2 25 | $128.7M | $36.1M | ||
| Q1 25 | $52.7M | $-73.0M | ||
| Q4 24 | $286.1M | $1.1B | ||
| Q3 24 | $263.7M | $-90.5M | ||
| Q2 24 | $159.8M | $112.7M | ||
| Q1 24 | $28.7M | $-28.7M |
自由现金流ALGNDECK
| Q4 25 | $187.3M | $1.0B | ||
| Q3 25 | $169.0M | $-13.9M | ||
| Q2 25 | $107.2M | $12.2M | ||
| Q1 25 | $27.4M | $-89.4M | ||
| Q4 24 | $263.1M | $1.1B | ||
| Q3 24 | $233.9M | $-113.4M | ||
| Q2 24 | $106.4M | $90.1M | ||
| Q1 24 | $19.3M | $-44.0M |
自由现金流率ALGNDECK
| Q4 25 | 17.9% | 52.1% | ||
| Q3 25 | 17.0% | -1.0% | ||
| Q2 25 | 10.6% | 1.3% | ||
| Q1 25 | 2.8% | -8.8% | ||
| Q4 24 | 26.4% | 58.6% | ||
| Q3 24 | 23.9% | -8.6% | ||
| Q2 24 | 10.3% | 10.9% | ||
| Q1 24 | 1.9% | -4.6% |
资本支出强度ALGNDECK
| Q4 25 | 3.4% | 1.1% | ||
| Q3 25 | 2.0% | 1.5% | ||
| Q2 25 | 2.1% | 2.5% | ||
| Q1 25 | 2.6% | 1.6% | ||
| Q4 24 | 2.3% | 1.3% | ||
| Q3 24 | 3.0% | 1.7% | ||
| Q2 24 | 5.2% | 2.7% | ||
| Q1 24 | 0.9% | 1.6% |
现金转化率ALGNDECK
| Q4 25 | 1.64× | 2.17× | ||
| Q3 25 | 3.33× | 0.03× | ||
| Q2 25 | 1.03× | 0.26× | ||
| Q1 25 | 0.57× | -0.48× | ||
| Q4 24 | 2.76× | 2.40× | ||
| Q3 24 | 2.27× | -0.37× | ||
| Q2 24 | 1.66× | 0.97× | ||
| Q1 24 | 0.27× | -0.22× |
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
ALGN
| Systems And Services | $789.6M | 75% |
| Other | $258.0M | 25% |
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
