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美国铁塔（AMT）与Toast, Inc.（TOST）财务数据对比。点击上方公司名可切换其他公司
美国铁塔的季度营收约是Toast, Inc.的1.7倍（$2.7B vs $1.6B），美国铁塔净利率更高（110.1% vs 6.2%，领先103.9%），美国铁塔自由现金流更多（$941.0M vs $178.0M），过去两年Toast, Inc.的营收复合增速更高（23.3% vs 3.7%）
美国铁塔是全球规模最大的房地产投资信托基金（REIT）之一，作为领先的独立多租户通信地产持有、运营及开发商，目前在全球范围内拥有约21.9万个通信站点，为全球通信产业提供可靠的基础设施支持。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
AMT vs TOST — 直观对比
营收规模更大
AMT
是对方的1.7倍
$1.6B
净利率更高
AMT
高出103.9%
6.2%
自由现金流更多
AMT
多$763.0M
$178.0M
两年增速更快
TOST
近两年复合增速
3.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $1.6B |
| 净利润 | $3.0B | $101.0M |
| 毛利率 | — | 25.9% |
| 营业利润率 | 45.3% | 5.2% |
| 净利率 | 110.1% | 6.2% |
| 营收同比 | — | 22.0% |
| 净利润同比 | — | 215.6% |
| 每股收益（稀释后） | — | $0.18 |
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AMTTOST
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $1.6B | ||
| Q3 25 | $2.7B | $1.6B | ||
| Q2 25 | $2.6B | $1.6B | ||
| Q1 25 | $2.6B | $1.3B | ||
| Q4 24 | $2.5B | $1.3B | ||
| Q3 24 | $2.5B | $1.3B | ||
| Q2 24 | $2.5B | $1.2B |
净利润AMTTOST
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $101.0M | ||
| Q3 25 | $912.6M | $105.0M | ||
| Q2 25 | $380.5M | $80.0M | ||
| Q1 25 | $498.6M | $56.0M | ||
| Q4 24 | $1.2B | $32.0M | ||
| Q3 24 | $-780.4M | $56.0M | ||
| Q2 24 | $908.4M | $14.0M |
毛利率AMTTOST
| Q1 26 | — | — | ||
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 25.3% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 23.0% |
营业利润率AMTTOST
| Q1 26 | 45.3% | — | ||
| Q4 25 | 42.4% | 5.2% | ||
| Q3 25 | 45.4% | 5.1% | ||
| Q2 25 | 45.6% | 5.2% | ||
| Q1 25 | 48.9% | 3.2% | ||
| Q4 24 | 42.4% | 2.5% | ||
| Q3 24 | 45.2% | 2.6% | ||
| Q2 24 | 45.4% | 0.4% |
净利率AMTTOST
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | 6.2% | ||
| Q3 25 | 33.6% | 6.4% | ||
| Q2 25 | 14.5% | 5.2% | ||
| Q1 25 | 19.5% | 4.2% | ||
| Q4 24 | 48.3% | 2.4% | ||
| Q3 24 | -30.9% | 4.3% | ||
| Q2 24 | 35.7% | 1.1% |
每股收益（稀释后）AMTTOST
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $0.18 | ||
| Q3 25 | $1.82 | $0.16 | ||
| Q2 25 | $0.78 | $0.13 | ||
| Q1 25 | $1.04 | $0.09 | ||
| Q4 24 | $2.63 | $0.09 | ||
| Q3 24 | $-1.69 | $0.07 | ||
| Q2 24 | $1.92 | $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 | $1.6B | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $10.2B | $2.1B |
| 总资产 | — | $3.1B |
| 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AMTTOST
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.0B | ||
| Q4 24 | $2.0B | $903.0M | ||
| Q3 24 | $2.2B | $761.0M | ||
| Q2 24 | $2.2B | $691.0M |
总债务AMTTOST
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | — | ||
| Q3 25 | $34.9B | — | ||
| Q2 25 | $35.2B | — | ||
| Q1 25 | $34.0B | — | ||
| Q4 24 | $32.8B | — | ||
| Q3 24 | $33.4B | — | ||
| Q2 24 | $35.6B | — |
股东权益AMTTOST
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $2.1B | ||
| Q3 25 | $4.0B | $2.0B | ||
| Q2 25 | $3.7B | $1.8B | ||
| Q1 25 | $3.5B | $1.7B | ||
| Q4 24 | $3.4B | $1.5B | ||
| Q3 24 | $3.6B | $1.4B | ||
| Q2 24 | $3.9B | $1.3B |
总资产AMTTOST
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $3.1B | ||
| Q3 25 | $63.9B | $3.0B | ||
| Q2 25 | $63.8B | $2.8B | ||
| Q1 25 | $62.1B | $2.6B | ||
| Q4 24 | $61.1B | $2.4B | ||
| Q3 24 | $62.8B | $2.2B | ||
| Q2 24 | $65.8B | $2.2B |
负债/权益比AMTTOST
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | — | ||
| Q3 25 | 8.82× | — | ||
| Q2 25 | 9.48× | — | ||
| Q1 25 | 9.63× | — | ||
| Q4 24 | 9.70× | — | ||
| Q3 24 | 9.16× | — | ||
| Q2 24 | 9.24× | — |
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 | — | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $941.0M | $178.0M |
| 自由现金流率自由现金流/营收 | 34.4% | 10.9% |
| 资本支出强度资本支出/营收 | 16.8% | 1.0% |
| 现金转化率经营现金流/净利润 | — | 1.92× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $608.0M |
8季度趋势，按日历期对齐
经营现金流AMTTOST
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $194.0M | ||
| Q3 25 | $1.5B | $165.0M | ||
| Q2 25 | $1.3B | $223.0M | ||
| Q1 25 | $1.3B | $79.0M | ||
| Q4 24 | $5.3B | $147.0M | ||
| Q3 24 | $1.5B | $109.0M | ||
| Q2 24 | $1.3B | $124.0M |
自由现金流AMTTOST
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $178.0M | ||
| Q3 25 | $994.5M | $153.0M | ||
| Q2 25 | $976.9M | $208.0M | ||
| Q1 25 | $963.9M | $69.0M | ||
| Q4 24 | $3.7B | $134.0M | ||
| Q3 24 | $1.0B | $97.0M | ||
| Q2 24 | $1.0B | $108.0M |
自由现金流率AMTTOST
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | 10.9% | ||
| Q3 25 | 36.6% | 9.4% | ||
| Q2 25 | 37.2% | 13.4% | ||
| Q1 25 | 37.6% | 5.2% | ||
| Q4 24 | 145.3% | 10.0% | ||
| Q3 24 | 41.4% | 7.4% | ||
| Q2 24 | 39.8% | 8.7% |
资本支出强度AMTTOST
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | 1.0% | ||
| Q3 25 | 17.1% | 0.7% | ||
| Q2 25 | 11.6% | 1.0% | ||
| Q1 25 | 12.9% | 0.7% | ||
| Q4 24 | 62.4% | 1.0% | ||
| Q3 24 | 16.8% | 0.9% | ||
| Q2 24 | 12.8% | 1.3% |
现金转化率AMTTOST
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 1.92× | ||
| Q3 25 | 1.60× | 1.57× | ||
| Q2 25 | 3.37× | 2.79× | ||
| Q1 25 | 2.60× | 1.41× | ||
| Q4 24 | 4.30× | 4.59× | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | 1.47× | 8.86× |
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
AMT
暂无分部数据
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
