vs
Artisan Partners Asset Management Inc.（APAM）与Fiverr International Ltd.（FVRR）财务数据对比。点击上方公司名可切换其他公司
Artisan Partners Asset Management Inc.的季度营收约是Fiverr International Ltd.的1.2倍（$335.5M vs $287.8M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs 1.9%，领先33.3%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $52.1M），过去两年Fiverr International Ltd.的营收复合增速更高（29.5% vs 12.7%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
Fiverr International Ltd.运营全球在线自由职业服务平台，连接160余个国家的企业客户与独立创作者，提供数字营销、平面设计、编程、文案撰写、视频剪辑等多领域专业服务，满足各类客户灵活的按需用工需求。
APAM vs FVRR — 直观对比
营收规模更大
APAM
是对方的1.2倍
$287.8M
净利率更高
APAM
高出33.3%
1.9%
自由现金流更多
APAM
多$119.6M
$52.1M
两年增速更快
FVRR
近两年复合增速
12.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $287.8M |
| 净利润 | $118.1M | $5.4M |
| 毛利率 | — | 82.5% |
| 营业利润率 | 39.2% | -3.5% |
| 净利率 | 35.2% | 1.9% |
| 营收同比 | 12.9% | — |
| 净利润同比 | 34.9% | — |
| 每股收益（稀释后） | $1.36 | — |
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APAMFVRR
| Q4 25 | $335.5M | — | ||
| Q3 25 | $301.3M | $287.8M | ||
| Q2 25 | $282.7M | $188.2M | ||
| Q1 25 | $277.1M | $93.5M | ||
| Q4 24 | $297.1M | — | ||
| Q3 24 | $279.6M | $269.9M | ||
| Q2 24 | $270.8M | $177.3M | ||
| Q1 24 | $264.4M | $88.0M |
净利润APAMFVRR
| Q4 25 | $118.1M | — | ||
| Q3 25 | $66.8M | $5.4M | ||
| Q2 25 | $67.6M | $4.1M | ||
| Q1 25 | $61.1M | $788.0K | ||
| Q4 24 | $87.5M | — | ||
| Q3 24 | $73.0M | $-1.0M | ||
| Q2 24 | $57.6M | $-4.0M | ||
| Q1 24 | $59.5M | $-4.3M |
毛利率APAMFVRR
| Q4 25 | — | — | ||
| Q3 25 | — | 82.5% | ||
| Q2 25 | — | 83.3% | ||
| Q1 25 | — | 83.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 82.8% | ||
| Q2 24 | — | 82.4% | ||
| Q1 24 | — | 82.2% |
营业利润率APAMFVRR
| Q4 25 | 39.2% | — | ||
| Q3 25 | 33.8% | -3.5% | ||
| Q2 25 | 28.2% | -3.4% | ||
| Q1 25 | 31.2% | -4.4% | ||
| Q4 24 | 36.7% | — | ||
| Q3 24 | 33.3% | -5.0% | ||
| Q2 24 | 32.0% | -6.3% | ||
| Q1 24 | 29.4% | -8.1% |
净利率APAMFVRR
| Q4 25 | 35.2% | — | ||
| Q3 25 | 22.2% | 1.9% | ||
| Q2 25 | 23.9% | 2.2% | ||
| Q1 25 | 22.1% | 0.8% | ||
| Q4 24 | 29.5% | — | ||
| Q3 24 | 26.1% | -0.4% | ||
| Q2 24 | 21.3% | -2.3% | ||
| Q1 24 | 22.5% | -4.9% |
每股收益（稀释后）APAMFVRR
| Q4 25 | $1.36 | — | ||
| Q3 25 | $0.93 | — | ||
| Q2 25 | $0.94 | — | ||
| Q1 25 | $0.82 | — | ||
| Q4 24 | $0.99 | — | ||
| Q3 24 | $1.03 | — | ||
| Q2 24 | $0.80 | — | ||
| Q1 24 | $0.84 | — |
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 | — | $133.5M |
| 总债务越低越好 | $190.0M | — |
| 股东权益账面价值 | $438.8M | $362.6M |
| 总资产 | $1.6B | $1.1B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资APAMFVRR
| Q4 25 | — | — | ||
| Q3 25 | — | $133.5M | ||
| Q2 25 | — | $578.4M | ||
| Q1 25 | — | $133.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $183.7M | ||
| Q2 24 | — | $183.7M | ||
| Q1 24 | — | $183.7M |
总债务APAMFVRR
| Q4 25 | $190.0M | — | ||
| Q3 25 | $190.0M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $200.0M | — | ||
| Q2 24 | $200.0M | — | ||
| Q1 24 | $200.0M | — |
股东权益APAMFVRR
| Q4 25 | $438.8M | — | ||
| Q3 25 | $402.1M | $362.6M | ||
| Q2 25 | $381.8M | $404.9M | ||
| Q1 25 | $356.5M | $362.6M | ||
| Q4 24 | $388.9M | — | ||
| Q3 24 | $372.1M | $355.8M | ||
| Q2 24 | $341.2M | $355.8M | ||
| Q1 24 | $320.3M | $355.8M |
总资产APAMFVRR
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | $1.1B | ||
| Q2 25 | $1.4B | $1.1B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | $1.0B | ||
| Q2 24 | $1.5B | $1.0B | ||
| Q1 24 | $1.5B | $1.0B |
负债/权益比APAMFVRR
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | — |
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 | $172.0M | $53.0M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $52.1M |
| 自由现金流率自由现金流/营收 | 51.2% | 18.1% |
| 资本支出强度资本支出/营收 | 0.1% | 0.3% |
| 现金转化率经营现金流/净利润 | 1.46× | 9.81× |
| 过去12个月自由现金流最近4个季度 | $420.6M | $124.9M |
8季度趋势，按日历期对齐
经营现金流APAMFVRR
| Q4 25 | $172.0M | — | ||
| Q3 25 | $40.4M | $53.0M | ||
| Q2 25 | $50.9M | $42.2M | ||
| Q1 25 | $157.9M | $21.2M | ||
| Q4 24 | $372.8M | — | ||
| Q3 24 | $112.8M | $10.9M | ||
| Q2 24 | $75.9M | $32.2M | ||
| Q1 24 | $147.0M | $21.2M |
自由现金流APAMFVRR
| Q4 25 | $171.6M | — | ||
| Q3 25 | $40.4M | $52.1M | ||
| Q2 25 | $50.9M | $41.5M | ||
| Q1 25 | $157.7M | $20.8M | ||
| Q4 24 | $371.3M | — | ||
| Q3 24 | $112.4M | $10.6M | ||
| Q2 24 | $75.2M | $31.5M | ||
| Q1 24 | $146.9M | $20.8M |
自由现金流率APAMFVRR
| Q4 25 | 51.2% | — | ||
| Q3 25 | 13.4% | 18.1% | ||
| Q2 25 | 18.0% | 22.0% | ||
| Q1 25 | 56.9% | 22.3% | ||
| Q4 24 | 125.0% | — | ||
| Q3 24 | 40.2% | 3.9% | ||
| Q2 24 | 27.8% | 17.8% | ||
| Q1 24 | 55.6% | 23.7% |
资本支出强度APAMFVRR
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | 0.3% | ||
| Q2 25 | 0.0% | 0.4% | ||
| Q1 25 | 0.1% | 0.4% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.1% | 0.1% | ||
| Q2 24 | 0.2% | 0.4% | ||
| Q1 24 | 0.0% | 0.4% |
现金转化率APAMFVRR
| Q4 25 | 1.46× | — | ||
| Q3 25 | 0.60× | 9.81× | ||
| Q2 25 | 0.75× | 10.40× | ||
| Q1 25 | 2.58× | 26.90× | ||
| Q4 24 | 4.26× | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 2.47× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
