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派拓网络（ALTO）与RAYONIER ADVANCED MATERIALS INC.（RYAM）财务数据对比。点击上方公司名可切换其他公司
RAYONIER ADVANCED MATERIALS INC.的季度营收约是派拓网络的1.8倍（$417.5M vs $232.0M），派拓网络净利率更高（9.4% vs -5.0%，领先14.4%），RAYONIER ADVANCED MATERIALS INC.同比增速更快（-1.2% vs -1.9%），过去两年RAYONIER ADVANCED MATERIALS INC.的营收复合增速更高（3.8% vs -1.8%）
帕洛阿尔托网络公司是一家总部位于加利福尼亚州圣克拉拉的美国跨国网络安全企业，核心业务为提供包含高级防火墙的网络安全平台，以及基于云的拓展安全服务。目前公司业务覆盖全球150多个国家，服务超过7万家机构，其中包括财富美国100强中的85家企业，旗下拥有威胁研究团队Unit 42，并主办网络安全会议Ignite。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
ALTO vs RYAM — 直观对比
营收规模更大
RYAM
是对方的1.8倍
$232.0M
营收增速更快
RYAM
高出0.7%
-1.9%
净利率更高
ALTO
高出14.4%
-5.0%
两年增速更快
RYAM
近两年复合增速
-1.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $232.0M | $417.5M |
| 净利润 | $21.8M | $-21.1M |
| 毛利率 | 6.5% | 8.9% |
| 营业利润率 | 3.2% | 2.6% |
| 净利率 | 9.4% | -5.0% |
| 营收同比 | -1.9% | -1.2% |
| 净利润同比 | 152.3% | -31.9% |
| 每股收益（稀释后） | $0.28 | $-0.33 |
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ALTORYAM
| Q4 25 | $232.0M | $417.5M | ||
| Q3 25 | $241.0M | $352.8M | ||
| Q2 25 | $218.4M | $340.0M | ||
| Q1 25 | $226.5M | $356.0M | ||
| Q4 24 | $236.3M | $422.5M | ||
| Q3 24 | $251.8M | $401.1M | ||
| Q2 24 | $236.5M | $419.0M | ||
| Q1 24 | $240.6M | $387.7M |
净利润ALTORYAM
| Q4 25 | $21.8M | $-21.1M | ||
| Q3 25 | $14.2M | $-4.5M | ||
| Q2 25 | $-11.0M | $-363.2M | ||
| Q1 25 | $-11.7M | $-32.0M | ||
| Q4 24 | $-41.7M | $-16.0M | ||
| Q3 24 | $-2.4M | $-32.6M | ||
| Q2 24 | $-3.1M | $11.4M | ||
| Q1 24 | $-11.7M | $-1.6M |
毛利率ALTORYAM
| Q4 25 | 6.5% | 8.9% | ||
| Q3 25 | 9.7% | 9.7% | ||
| Q2 25 | -0.9% | 7.0% | ||
| Q1 25 | -0.8% | 6.8% | ||
| Q4 24 | -0.6% | 8.7% | ||
| Q3 24 | 2.4% | 10.9% | ||
| Q2 24 | 3.2% | 11.5% | ||
| Q1 24 | -1.0% | 9.5% |
营业利润率ALTORYAM
| Q4 25 | 3.2% | 2.6% | ||
| Q3 25 | 7.0% | 2.8% | ||
| Q2 25 | -3.7% | -0.4% | ||
| Q1 25 | -4.0% | -4.2% | ||
| Q4 24 | -16.6% | 2.6% | ||
| Q3 24 | -0.3% | -4.2% | ||
| Q2 24 | -0.6% | 6.7% | ||
| Q1 24 | -4.3% | 4.4% |
净利率ALTORYAM
| Q4 25 | 9.4% | -5.0% | ||
| Q3 25 | 5.9% | -1.3% | ||
| Q2 25 | -5.0% | -106.8% | ||
| Q1 25 | -5.2% | -9.0% | ||
| Q4 24 | -17.6% | -3.8% | ||
| Q3 24 | -1.0% | -8.1% | ||
| Q2 24 | -1.3% | 2.7% | ||
| Q1 24 | -4.9% | -0.4% |
每股收益（稀释后）ALTORYAM
| Q4 25 | $0.28 | $-0.33 | ||
| Q3 25 | $0.19 | $-0.07 | ||
| Q2 25 | $-0.15 | $-5.44 | ||
| Q1 25 | $-0.16 | $-0.49 | ||
| Q4 24 | $-0.56 | $-0.25 | ||
| Q3 24 | $-0.04 | $-0.49 | ||
| Q2 24 | $-0.05 | $0.17 | ||
| Q1 24 | $-0.17 | $-0.02 |
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 | $23.4M | $75.4M |
| 总债务越低越好 | $84.6M | $758.1M |
| 股东权益账面价值 | $245.2M | $316.6M |
| 总资产 | $388.8M | $1.8B |
| 负债/权益比越低杠杆越低 | 0.34× | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资ALTORYAM
| Q4 25 | $23.4M | $75.4M | ||
| Q3 25 | $32.5M | $77.0M | ||
| Q2 25 | $29.8M | $70.7M | ||
| Q1 25 | $26.8M | $129.9M | ||
| Q4 24 | $35.5M | $125.2M | ||
| Q3 24 | $33.6M | $136.1M | ||
| Q2 24 | $27.1M | $114.1M | ||
| Q1 24 | $29.3M | $54.6M |
总债务ALTORYAM
| Q4 25 | $84.6M | $758.1M | ||
| Q3 25 | $106.0M | $763.5M | ||
| Q2 25 | $124.2M | $720.4M | ||
| Q1 25 | $117.0M | $707.0M | ||
| Q4 24 | $99.7M | $706.4M | ||
| Q3 24 | $90.6M | $747.7M | ||
| Q2 24 | $98.6M | $752.8M | ||
| Q1 24 | $92.2M | $755.6M |
股东权益ALTORYAM
| Q4 25 | $245.2M | $316.6M | ||
| Q3 25 | $222.4M | $338.2M | ||
| Q2 25 | $207.8M | $342.3M | ||
| Q1 25 | $213.9M | $688.1M | ||
| Q4 24 | $225.1M | $713.9M | ||
| Q3 24 | $263.9M | $732.7M | ||
| Q2 24 | $265.8M | $755.1M | ||
| Q1 24 | $268.7M | $741.8M |
总资产ALTORYAM
| Q4 25 | $388.8M | $1.8B | ||
| Q3 25 | $388.5M | $1.8B | ||
| Q2 25 | $393.1M | $1.8B | ||
| Q1 25 | $402.2M | $2.1B | ||
| Q4 24 | $401.4M | $2.1B | ||
| Q3 24 | $417.4M | $2.2B | ||
| Q2 24 | $432.5M | $2.2B | ||
| Q1 24 | $434.6M | $2.1B |
负债/权益比ALTORYAM
| Q4 25 | 0.34× | 2.39× | ||
| Q3 25 | 0.48× | 2.26× | ||
| Q2 25 | 0.60× | 2.10× | ||
| Q1 25 | 0.55× | 1.03× | ||
| Q4 24 | 0.44× | 0.99× | ||
| Q3 24 | 0.34× | 1.02× | ||
| Q2 24 | 0.37× | 1.00× | ||
| Q1 24 | 0.34× | 1.02× |
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 | $9.5M | $32.3M |
| 自由现金流经营现金流 - 资本支出 | $7.6M | — |
| 自由现金流率自由现金流/营收 | 3.3% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 现金转化率经营现金流/净利润 | 0.44× | — |
| 过去12个月自由现金流最近4个季度 | $8.6M | — |
8季度趋势，按日历期对齐
经营现金流ALTORYAM
| Q4 25 | $9.5M | $32.3M | ||
| Q3 25 | $22.8M | $-17.8M | ||
| Q2 25 | $-848.0K | $-30.2M | ||
| Q1 25 | $-18.2M | $39.6M | ||
| Q4 24 | $-9.8M | $54.9M | ||
| Q3 24 | $18.6M | $49.8M | ||
| Q2 24 | $-13.7M | $87.6M | ||
| Q1 24 | $1.4M | $11.3M |
自由现金流ALTORYAM
| Q4 25 | $7.6M | — | ||
| Q3 25 | $21.2M | — | ||
| Q2 25 | $-1.3M | — | ||
| Q1 25 | $-18.8M | — | ||
| Q4 24 | $-11.1M | — | ||
| Q3 24 | $18.1M | — | ||
| Q2 24 | $-18.4M | — | ||
| Q1 24 | $-3.2M | — |
自由现金流率ALTORYAM
| Q4 25 | 3.3% | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | -0.6% | — | ||
| Q1 25 | -8.3% | — | ||
| Q4 24 | -4.7% | — | ||
| Q3 24 | 7.2% | — | ||
| Q2 24 | -7.8% | — | ||
| Q1 24 | -1.3% | — |
资本支出强度ALTORYAM
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 1.9% | — |
现金转化率ALTORYAM
| Q4 25 | 0.44× | — | ||
| Q3 25 | 1.60× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 7.69× | ||
| Q1 24 | — | — |
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
ALTO
| Pekin Campus Production | $105.1M | 45% |
| Total Marketing And Distribution Sales | $57.9M | 25% |
| Marketing And Distributions | $55.6M | 24% |
| Other | $11.2M | 5% |
| Kodiak Carbonic LLC | $2.1M | 1% |
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
