vs
爱齐科技（ALGN）与Atlassian Corp（TEAM）财务数据对比。点击上方公司名可切换其他公司
Atlassian Corp的季度营收约是爱齐科技的1.5倍（$1.6B vs $1.0B），爱齐科技净利率更高（13.0% vs -2.7%，领先15.6%），Atlassian Corp同比增速更快（23.3% vs 5.3%），爱齐科技自由现金流更多（$187.3M vs $168.5M）
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
Dragoneer投资集团是总部位于美国加利福尼亚州旧金山的专业投资机构，专注于全球科技领域的投资布局，业务覆盖公开股票市场与私募股权市场，在全球科技投资赛道拥有丰富的运作经验和行业资源。
ALGN vs TEAM — 直观对比
营收规模更大
TEAM
是对方的1.5倍
$1.0B
营收增速更快
TEAM
高出18.0%
5.3%
净利率更高
ALGN
高出15.6%
-2.7%
自由现金流更多
ALGN
多$18.7M
$168.5M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.6B |
| 净利润 | $135.8M | $-42.6M |
| 毛利率 | 65.3% | 85.0% |
| 营业利润率 | 14.8% | -3.0% |
| 净利率 | 13.0% | -2.7% |
| 营收同比 | 5.3% | 23.3% |
| 净利润同比 | 30.8% | -11.6% |
| 每股收益（稀释后） | $1.88 | $-0.16 |
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ALGNTEAM
| Q4 25 | $1.0B | $1.6B | ||
| Q3 25 | $995.7M | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $979.3M | $1.4B | ||
| Q4 24 | $995.2M | $1.3B | ||
| Q3 24 | $977.9M | $1.2B | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $997.4M | $1.2B |
净利润ALGNTEAM
| Q4 25 | $135.8M | $-42.6M | ||
| Q3 25 | $56.8M | $-51.9M | ||
| Q2 25 | $124.6M | $-23.9M | ||
| Q1 25 | $93.2M | $-70.8M | ||
| Q4 24 | $103.8M | $-38.2M | ||
| Q3 24 | $116.0M | $-123.8M | ||
| Q2 24 | $96.6M | — | ||
| Q1 24 | $105.0M | $12.8M |
毛利率ALGNTEAM
| Q4 25 | 65.3% | 85.0% | ||
| Q3 25 | 64.2% | 82.0% | ||
| Q2 25 | 69.9% | 83.1% | ||
| Q1 25 | 69.5% | 83.8% | ||
| Q4 24 | 70.0% | 82.7% | ||
| Q3 24 | 69.7% | 81.7% | ||
| Q2 24 | 70.3% | — | ||
| Q1 24 | 70.0% | 82.1% |
营业利润率ALGNTEAM
| Q4 25 | 14.8% | -3.0% | ||
| Q3 25 | 9.7% | -6.7% | ||
| Q2 25 | 16.1% | -2.1% | ||
| Q1 25 | 13.4% | -0.9% | ||
| Q4 24 | 14.5% | -4.5% | ||
| Q3 24 | 16.6% | -2.7% | ||
| Q2 24 | 14.3% | — | ||
| Q1 24 | 15.5% | 1.5% |
净利率ALGNTEAM
| Q4 25 | 13.0% | -2.7% | ||
| Q3 25 | 5.7% | -3.6% | ||
| Q2 25 | 12.3% | -1.7% | ||
| Q1 25 | 9.5% | -5.2% | ||
| Q4 24 | 10.4% | -3.0% | ||
| Q3 24 | 11.9% | -10.4% | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 10.5% | 1.1% |
每股收益（稀释后）ALGNTEAM
| Q4 25 | $1.88 | $-0.16 | ||
| Q3 25 | $0.78 | $-0.20 | ||
| Q2 25 | $1.72 | $-0.08 | ||
| Q1 25 | $1.27 | $-0.27 | ||
| Q4 24 | $1.40 | $-0.15 | ||
| Q3 24 | $1.55 | $-0.48 | ||
| Q2 24 | $1.28 | — | ||
| Q1 24 | $1.39 | $0.05 |
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 | $1.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.0B | $1.6B |
| 总资产 | $6.2B | $6.2B |
| 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ALGNTEAM
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.0B | $2.8B | ||
| Q2 25 | $901.2M | $2.9B | ||
| Q1 25 | $873.0M | $3.0B | ||
| Q4 24 | $1.0B | $2.5B | ||
| Q3 24 | $1.0B | $2.2B | ||
| Q2 24 | $761.4M | — | ||
| Q1 24 | $865.8M | $2.1B |
股东权益ALGNTEAM
| Q4 25 | $4.0B | $1.6B | ||
| Q3 25 | $4.0B | $1.4B | ||
| Q2 25 | $3.9B | $1.3B | ||
| Q1 25 | $3.8B | $1.4B | ||
| Q4 24 | $3.9B | $1.2B | ||
| Q3 24 | $3.9B | $1.0B | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $3.8B | $1.1B |
总资产ALGNTEAM
| Q4 25 | $6.2B | $6.2B | ||
| Q3 25 | $6.2B | $5.7B | ||
| Q2 25 | $6.2B | $6.0B | ||
| Q1 25 | $6.1B | $5.9B | ||
| Q4 24 | $6.2B | $5.4B | ||
| Q3 24 | $6.4B | $5.0B | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.2B | $5.1B |
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 | $177.8M |
| 自由现金流经营现金流 - 资本支出 | $187.3M | $168.5M |
| 自由现金流率自由现金流/营收 | 17.9% | 10.6% |
| 资本支出强度资本支出/营收 | 3.4% | 0.6% |
| 现金转化率经营现金流/净利润 | 1.64× | — |
| 过去12个月自由现金流最近4个季度 | $490.8M | $1.3B |
8季度趋势，按日历期对齐
经营现金流ALGNTEAM
| Q4 25 | $223.2M | $177.8M | ||
| Q3 25 | $188.7M | $128.7M | ||
| Q2 25 | $128.7M | $375.3M | ||
| Q1 25 | $52.7M | $652.7M | ||
| Q4 24 | $286.1M | $351.9M | ||
| Q3 24 | $263.7M | $80.5M | ||
| Q2 24 | $159.8M | — | ||
| Q1 24 | $28.7M | $565.4M |
自由现金流ALGNTEAM
| Q4 25 | $187.3M | $168.5M | ||
| Q3 25 | $169.0M | $114.6M | ||
| Q2 25 | $107.2M | $360.3M | ||
| Q1 25 | $27.4M | $638.3M | ||
| Q4 24 | $263.1M | $342.6M | ||
| Q3 24 | $233.9M | $74.3M | ||
| Q2 24 | $106.4M | — | ||
| Q1 24 | $19.3M | $554.9M |
自由现金流率ALGNTEAM
| Q4 25 | 17.9% | 10.6% | ||
| Q3 25 | 17.0% | 8.0% | ||
| Q2 25 | 10.6% | 26.0% | ||
| Q1 25 | 2.8% | 47.0% | ||
| Q4 24 | 26.4% | 26.6% | ||
| Q3 24 | 23.9% | 6.3% | ||
| Q2 24 | 10.3% | — | ||
| Q1 24 | 1.9% | 46.7% |
资本支出强度ALGNTEAM
| Q4 25 | 3.4% | 0.6% | ||
| Q3 25 | 2.0% | 1.0% | ||
| Q2 25 | 2.1% | 1.1% | ||
| Q1 25 | 2.6% | 1.1% | ||
| Q4 24 | 2.3% | 0.7% | ||
| Q3 24 | 3.0% | 0.5% | ||
| Q2 24 | 5.2% | — | ||
| Q1 24 | 0.9% | 0.9% |
现金转化率ALGNTEAM
| Q4 25 | 1.64× | — | ||
| Q3 25 | 3.33× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 0.57× | — | ||
| Q4 24 | 2.76× | — | ||
| Q3 24 | 2.27× | — | ||
| Q2 24 | 1.66× | — | ||
| Q1 24 | 0.27× | 44.34× |
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% |
TEAM
| Cloud Deployment Services | $1.1B | 67% |
| Data Center Deployment | $435.6M | 27% |
| Marketplace And Services Deployment | $83.7M | 5% |
