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Artisan Partners Asset Management Inc.（APAM）与Tilray Brands, Inc.（TLRY）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Tilray Brands, Inc.的1.5倍（$335.5M vs $217.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs -20.7%，领先55.9%），Artisan Partners Asset Management Inc.同比增速更快（12.9% vs 3.1%），过去两年Artisan Partners Asset Management Inc.的营收复合增速更高（12.7% vs 7.5%）
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。
Tilray Brands, Inc.是一家美国企业，主营医药、大麻生活方式产品以及包装消费品业务，公司注册于美国，总部坐落于纽约。该公司在加拿大、澳大利亚、新西兰、拉美地区均开展业务，同时在德国和葡萄牙拥有大麻种植基地。
APAM vs TLRY — 直观对比
营收规模更大
APAM
是对方的1.5倍
$217.5M
营收增速更快
APAM
高出9.8%
3.1%
净利率更高
APAM
高出55.9%
-20.7%
两年增速更快
APAM
近两年复合增速
7.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $217.5M |
| 净利润 | $118.1M | $-44.9M |
| 毛利率 | — | 26.4% |
| 营业利润率 | 39.2% | -10.2% |
| 净利率 | 35.2% | -20.7% |
| 营收同比 | 12.9% | 3.1% |
| 净利润同比 | 34.9% | 47.4% |
| 每股收益（稀释后） | $1.36 | $-0.41 |
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APAMTLRY
| Q4 25 | $335.5M | $217.5M | ||
| Q3 25 | $301.3M | $209.5M | ||
| Q2 25 | $282.7M | $224.5M | ||
| Q1 25 | $277.1M | $185.8M | ||
| Q4 24 | $297.1M | $210.9M | ||
| Q3 24 | $279.6M | $200.0M | ||
| Q2 24 | $270.8M | $229.9M | ||
| Q1 24 | $264.4M | $188.3M |
净利润APAMTLRY
| Q4 25 | $118.1M | $-44.9M | ||
| Q3 25 | $66.8M | $-322.0K | ||
| Q2 25 | $67.6M | $-1.3B | ||
| Q1 25 | $61.1M | $-789.4M | ||
| Q4 24 | $87.5M | $-85.3M | ||
| Q3 24 | $73.0M | $-39.2M | ||
| Q2 24 | $57.6M | $-31.7M | ||
| Q1 24 | $59.5M | $-92.7M |
毛利率APAMTLRY
| Q4 25 | — | 26.4% | ||
| Q3 25 | — | 27.4% | ||
| Q2 25 | — | 30.1% | ||
| Q1 25 | — | 28.0% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.8% | ||
| Q2 24 | — | 35.8% | ||
| Q1 24 | — | 26.2% |
营业利润率APAMTLRY
| Q4 25 | 39.2% | -10.2% | ||
| Q3 25 | 33.8% | 1.0% | ||
| Q2 25 | 28.2% | -643.1% | ||
| Q1 25 | 31.2% | -409.0% | ||
| Q4 24 | 36.7% | -20.0% | ||
| Q3 24 | 33.3% | -18.3% | ||
| Q2 24 | 32.0% | -7.2% | ||
| Q1 24 | 29.4% | -43.6% |
净利率APAMTLRY
| Q4 25 | 35.2% | -20.7% | ||
| Q3 25 | 22.2% | -0.2% | ||
| Q2 25 | 23.9% | -566.9% | ||
| Q1 25 | 22.1% | -424.9% | ||
| Q4 24 | 29.5% | -40.5% | ||
| Q3 24 | 26.1% | -19.6% | ||
| Q2 24 | 21.3% | -13.8% | ||
| Q1 24 | 22.5% | -49.2% |
每股收益（稀释后）APAMTLRY
| Q4 25 | $1.36 | $-0.41 | ||
| Q3 25 | $0.93 | $0.00 | ||
| Q2 25 | $0.94 | $7.26 | ||
| Q1 25 | $0.82 | $-8.69 | ||
| Q4 24 | $0.99 | $-0.99 | ||
| Q3 24 | $1.03 | $-0.04 | ||
| Q2 24 | $0.80 | $-0.04 | ||
| Q1 24 | $0.84 | $-0.12 |
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 | — | $291.6M |
| 总债务越低越好 | $190.0M | — |
| 股东权益账面价值 | $438.8M | $1.6B |
| 总资产 | $1.6B | $2.1B |
| 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APAMTLRY
| Q4 25 | — | $291.6M | ||
| Q3 25 | — | $264.8M | ||
| Q2 25 | — | $256.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $252.2M | ||
| Q3 24 | — | $280.1M | ||
| Q2 24 | — | $260.5M | ||
| Q1 24 | — | $225.9M |
总债务APAMTLRY
| 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APAMTLRY
| Q4 25 | $438.8M | $1.6B | ||
| Q3 25 | $402.1M | $1.5B | ||
| Q2 25 | $381.8M | $1.5B | ||
| Q1 25 | $356.5M | $2.7B | ||
| Q4 24 | $388.9M | $3.5B | ||
| Q3 24 | $372.1M | $3.5B | ||
| Q2 24 | $341.2M | $3.4B | ||
| Q1 24 | $320.3M | $3.4B |
总资产APAMTLRY
| Q4 25 | $1.6B | $2.1B | ||
| Q3 25 | $1.6B | $2.1B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.6B | $4.2B | ||
| Q3 24 | $1.6B | $4.3B | ||
| Q2 24 | $1.5B | $4.2B | ||
| Q1 24 | $1.5B | $4.2B |
负债/权益比APAMTLRY
| 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 | $-8.5M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | — |
| 自由现金流率自由现金流/营收 | 51.2% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $420.6M | — |
8季度趋势，按日历期对齐
经营现金流APAMTLRY
| Q4 25 | $172.0M | $-8.5M | ||
| Q3 25 | $40.4M | $-1.3M | ||
| Q2 25 | $50.9M | $-12.8M | ||
| Q1 25 | $157.9M | $-5.8M | ||
| Q4 24 | $372.8M | $-40.7M | ||
| Q3 24 | $112.8M | $-35.3M | ||
| Q2 24 | $75.9M | $30.7M | ||
| Q1 24 | $147.0M | $-15.4M |
自由现金流APAMTLRY
| Q4 25 | $171.6M | — | ||
| Q3 25 | $40.4M | — | ||
| Q2 25 | $50.9M | $-19.1M | ||
| Q1 25 | $157.7M | $-20.2M | ||
| Q4 24 | $371.3M | $-46.2M | ||
| Q3 24 | $112.4M | $-42.0M | ||
| Q2 24 | $75.2M | $21.0M | ||
| Q1 24 | $146.9M | $-24.9M |
自由现金流率APAMTLRY
| Q4 25 | 51.2% | — | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | 18.0% | -8.5% | ||
| Q1 25 | 56.9% | -10.9% | ||
| Q4 24 | 125.0% | -21.9% | ||
| Q3 24 | 40.2% | -21.0% | ||
| Q2 24 | 27.8% | 9.1% | ||
| Q1 24 | 55.6% | -13.2% |
资本支出强度APAMTLRY
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | 2.8% | ||
| Q1 25 | 0.1% | 7.8% | ||
| Q4 24 | 0.5% | 2.6% | ||
| Q3 24 | 0.1% | 3.4% | ||
| Q2 24 | 0.2% | 4.2% | ||
| Q1 24 | 0.0% | 5.1% |
现金转化率APAMTLRY
| Q4 25 | 1.46× | — | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 0.75× | — | ||
| Q1 25 | 2.58× | — | ||
| 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
业务分部营收拆解
APAM
暂无分部数据
TLRY
| Adultuse Cannabis Products | $62.4M | 29% |
| Other | $59.2M | 27% |
| Beverage Alcohol Business | $53.6M | 25% |
| International Cannabis Products | $20.2M | 9% |
| Wellness Business | $14.6M | 7% |
| Medical Cannabis Products | $6.2M | 3% |
| Wholesale Cannabis Products | $1.3M | 1% |
