vs
Ametek（AME）与派拓网络（PANW）财务数据对比。点击上方公司名可切换其他公司
派拓网络的季度营收约是Ametek的1.3倍（$2.6B vs $2.0B），Ametek净利率更高（19.9% vs 16.7%，领先3.3%），派拓网络同比增速更快（14.9% vs 13.4%），Ametek自由现金流更多（$527.3M vs $384.0M），过去两年派拓网络的营收复合增速更高（14.3% vs 7.3%）
AMETEK Inc.是美国跨国综合企业，为全球知名的电子仪器及机电设备设计商与制造商，总部位于美国，在全球范围内设有超过150个运营站点，业务覆盖多个国家和地区，为各行业客户提供高性能的相关产品及配套解决方案。
派拓网络（Palo Alto Networks）是总部位于美国加利福尼亚州圣克拉拉的跨国网络安全企业，核心产品包括高级防火墙及拓展其防护能力的云原生安全服务，为全球150多个国家的超7万家机构、含85家财富100强企业提供服务，旗下拥有知名威胁研究团队Unit 42，还举办Ignite网络安全行业峰会。
AME vs PANW — 直观对比
营收规模更大
PANW
是对方的1.3倍
$2.0B
营收增速更快
PANW
高出1.5%
13.4%
净利率更高
AME
高出3.3%
16.7%
自由现金流更多
AME
多$143.3M
$384.0M
两年增速更快
PANW
近两年复合增速
7.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.6B |
| 净利润 | $398.6M | $432.0M |
| 毛利率 | 36.0% | 73.6% |
| 营业利润率 | 25.3% | 15.3% |
| 净利率 | 19.9% | 16.7% |
| 营收同比 | 13.4% | 14.9% |
| 净利润同比 | 2.9% | 61.6% |
| 每股收益（稀释后） | $1.73 | $0.61 |
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AMEPANW
| Q1 26 | — | $2.6B | ||
| Q4 25 | $2.0B | $2.5B | ||
| Q3 25 | $1.9B | $2.5B | ||
| Q2 25 | $1.8B | $2.3B | ||
| Q1 25 | $1.7B | $2.3B | ||
| Q4 24 | $1.8B | $2.1B | ||
| Q3 24 | $1.7B | $2.2B | ||
| Q2 24 | $1.7B | $2.0B |
净利润AMEPANW
| Q1 26 | — | $432.0M | ||
| Q4 25 | $398.6M | $334.0M | ||
| Q3 25 | $371.4M | $253.8M | ||
| Q2 25 | $358.4M | $262.1M | ||
| Q1 25 | $351.8M | $267.3M | ||
| Q4 24 | $387.3M | $350.7M | ||
| Q3 24 | $340.2M | $357.7M | ||
| Q2 24 | $337.7M | $278.8M |
毛利率AMEPANW
| Q1 26 | — | 73.6% | ||
| Q4 25 | 36.0% | 74.2% | ||
| Q3 25 | 36.3% | 73.2% | ||
| Q2 25 | 35.8% | 72.9% | ||
| Q1 25 | 36.1% | 73.5% | ||
| Q4 24 | 36.6% | 74.1% | ||
| Q3 24 | 36.0% | 73.8% | ||
| Q2 24 | 36.0% | 74.1% |
营业利润率AMEPANW
| Q1 26 | — | 15.3% | ||
| Q4 25 | 25.3% | 12.5% | ||
| Q3 25 | 25.8% | 19.6% | ||
| Q2 25 | 26.0% | 9.6% | ||
| Q1 25 | 26.3% | 10.6% | ||
| Q4 24 | 26.6% | 13.4% | ||
| Q3 24 | 26.1% | 10.9% | ||
| Q2 24 | 25.8% | 8.9% |
净利率AMEPANW
| Q1 26 | — | 16.7% | ||
| Q4 25 | 19.9% | 13.5% | ||
| Q3 25 | 19.6% | 10.0% | ||
| Q2 25 | 20.2% | 11.5% | ||
| Q1 25 | 20.3% | 11.8% | ||
| Q4 24 | 22.0% | 16.4% | ||
| Q3 24 | 19.9% | 16.3% | ||
| Q2 24 | 19.5% | 14.0% |
每股收益（稀释后）AMEPANW
| Q1 26 | — | $0.61 | ||
| Q4 25 | $1.73 | $0.47 | ||
| Q3 25 | $1.60 | $-0.14 | ||
| Q2 25 | $1.55 | $0.37 | ||
| Q1 25 | $1.52 | $0.38 | ||
| Q4 24 | $1.67 | $0.99 | ||
| Q3 24 | $1.47 | $1.04 | ||
| Q2 24 | $1.45 | $0.79 |
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 | $458.0M | $4.5B |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $10.6B | $9.4B |
| 总资产 | $16.1B | $25.0B |
| 负债/权益比越低杠杆越低 | 0.21× | — |
8季度趋势，按日历期对齐
现金及短期投资AMEPANW
| Q1 26 | — | $4.5B | ||
| Q4 25 | $458.0M | $4.2B | ||
| Q3 25 | $439.2M | $2.9B | ||
| Q2 25 | $619.7M | $3.3B | ||
| Q1 25 | $399.0M | $3.2B | ||
| Q4 24 | $374.0M | $3.4B | ||
| Q3 24 | $396.3M | $2.6B | ||
| Q2 24 | $396.6M | $2.9B |
总债务AMEPANW
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AMEPANW
| Q1 26 | — | $9.4B | ||
| Q4 25 | $10.6B | $8.7B | ||
| Q3 25 | $10.5B | $7.8B | ||
| Q2 25 | $10.4B | $7.2B | ||
| Q1 25 | $10.0B | $6.4B | ||
| Q4 24 | $9.7B | $5.9B | ||
| Q3 24 | $9.6B | $5.2B | ||
| Q2 24 | $9.3B | $4.5B |
总资产AMEPANW
| Q1 26 | — | $25.0B | ||
| Q4 25 | $16.1B | $23.5B | ||
| Q3 25 | $16.2B | $23.6B | ||
| Q2 25 | $15.3B | $22.0B | ||
| Q1 25 | $14.9B | $21.0B | ||
| Q4 24 | $14.6B | $20.4B | ||
| Q3 24 | $14.8B | $20.0B | ||
| Q2 24 | $14.8B | $17.9B |
负债/权益比AMEPANW
| Q1 26 | — | — | ||
| Q4 25 | 0.21× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.22× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $584.3M | $554.0M |
| 自由现金流经营现金流 - 资本支出 | $527.3M | $384.0M |
| 自由现金流率自由现金流/营收 | 26.4% | 14.8% |
| 资本支出强度资本支出/营收 | 2.9% | 6.6% |
| 现金转化率经营现金流/净利润 | 1.47× | 1.28× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $3.6B |
8季度趋势，按日历期对齐
经营现金流AMEPANW
| Q1 26 | — | $554.0M | ||
| Q4 25 | $584.3M | $1.8B | ||
| Q3 25 | $440.9M | $1.0B | ||
| Q2 25 | $359.1M | $628.7M | ||
| Q1 25 | $417.5M | $556.9M | ||
| Q4 24 | $550.0M | $1.5B | ||
| Q3 24 | $487.2M | $512.7M | ||
| Q2 24 | $381.4M | $528.9M |
自由现金流AMEPANW
| Q1 26 | — | $384.0M | ||
| Q4 25 | $527.3M | $1.7B | ||
| Q3 25 | $420.0M | $934.5M | ||
| Q2 25 | $329.8M | $560.4M | ||
| Q1 25 | $394.5M | $509.4M | ||
| Q4 24 | $498.3M | $1.5B | ||
| Q3 24 | $460.9M | $465.3M | ||
| Q2 24 | $360.0M | $491.5M |
自由现金流率AMEPANW
| Q1 26 | — | 14.8% | ||
| Q4 25 | 26.4% | 68.2% | ||
| Q3 25 | 22.2% | 36.8% | ||
| Q2 25 | 18.5% | 24.5% | ||
| Q1 25 | 22.8% | 22.6% | ||
| Q4 24 | 28.3% | 68.5% | ||
| Q3 24 | 27.0% | 21.3% | ||
| Q2 24 | 20.8% | 24.8% |
资本支出强度AMEPANW
| Q1 26 | — | 6.6% | ||
| Q4 25 | 2.9% | 3.4% | ||
| Q3 25 | 1.1% | 3.4% | ||
| Q2 25 | 1.6% | 3.0% | ||
| Q1 25 | 1.3% | 2.1% | ||
| Q4 24 | 2.9% | 2.1% | ||
| Q3 24 | 1.5% | 2.2% | ||
| Q2 24 | 1.2% | 1.9% |
现金转化率AMEPANW
| Q1 26 | — | 1.28× | ||
| Q4 25 | 1.47× | 5.30× | ||
| Q3 25 | 1.19× | 4.02× | ||
| Q2 25 | 1.00× | 2.40× | ||
| Q1 25 | 1.19× | 2.08× | ||
| Q4 24 | 1.42× | 4.30× | ||
| Q3 24 | 1.43× | 1.43× | ||
| Q2 24 | 1.13× | 1.90× |
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
AME
| Transferred At Point In Time | $1.1B | 54% |
| Electronic Instruments Group | $620.1M | 31% |
| Transferred Over Time | $294.6M | 15% |
PANW
| Subscription | $1.4B | 54% |
| Support | $676.0M | 26% |
| Products | $514.0M | 20% |
