vs
Artisan Partners Asset Management Inc.（APAM）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
INNOVATE Corp.的季度营收约是Artisan Partners Asset Management Inc.的1.1倍（$382.7M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs -1.9%，领先37.1%），INNOVATE Corp.同比增速更快（61.7% vs 12.9%），过去两年Artisan Partners Asset Management Inc.的营收复合增速更高（12.7% vs 10.2%）
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。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
APAM vs VATE — 直观对比
营收规模更大
VATE
是对方的1.1倍
$335.5M
营收增速更快
VATE
高出48.8%
12.9%
净利率更高
APAM
高出37.1%
-1.9%
两年增速更快
APAM
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $382.7M |
| 净利润 | $118.1M | $-7.4M |
| 毛利率 | — | 15.4% |
| 营业利润率 | 39.2% | 3.7% |
| 净利率 | 35.2% | -1.9% |
| 营收同比 | 12.9% | 61.7% |
| 净利润同比 | 34.9% | 55.4% |
| 每股收益（稀释后） | $1.36 | $-0.57 |
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APAMVATE
| Q4 25 | $335.5M | $382.7M | ||
| Q3 25 | $301.3M | $347.1M | ||
| Q2 25 | $282.7M | $242.0M | ||
| Q1 25 | $277.1M | $274.2M | ||
| Q4 24 | $297.1M | $236.6M | ||
| Q3 24 | $279.6M | $242.2M | ||
| Q2 24 | $270.8M | $313.1M | ||
| Q1 24 | $264.4M | $315.2M |
净利润APAMVATE
| Q4 25 | $118.1M | $-7.4M | ||
| Q3 25 | $66.8M | $-8.9M | ||
| Q2 25 | $67.6M | $-19.8M | ||
| Q1 25 | $61.1M | $-24.5M | ||
| Q4 24 | $87.5M | $-16.6M | ||
| Q3 24 | $73.0M | $-15.0M | ||
| Q2 24 | $57.6M | $14.4M | ||
| Q1 24 | $59.5M | $-17.4M |
毛利率APAMVATE
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 15.4% |
营业利润率APAMVATE
| Q4 25 | 39.2% | 3.7% | ||
| Q3 25 | 33.8% | 1.8% | ||
| Q2 25 | 28.2% | 2.0% | ||
| Q1 25 | 31.2% | 1.2% | ||
| Q4 24 | 36.7% | 1.1% | ||
| Q3 24 | 33.3% | 2.4% | ||
| Q2 24 | 32.0% | 9.2% | ||
| Q1 24 | 29.4% | 0.9% |
净利率APAMVATE
| Q4 25 | 35.2% | -1.9% | ||
| Q3 25 | 22.2% | -2.6% | ||
| Q2 25 | 23.9% | -8.2% | ||
| Q1 25 | 22.1% | -8.9% | ||
| Q4 24 | 29.5% | -7.0% | ||
| Q3 24 | 26.1% | -6.2% | ||
| Q2 24 | 21.3% | 4.6% | ||
| Q1 24 | 22.5% | -5.5% |
每股收益（稀释后）APAMVATE
| Q4 25 | $1.36 | $-0.57 | ||
| Q3 25 | $0.93 | $-0.71 | ||
| Q2 25 | $0.94 | $-1.67 | ||
| Q1 25 | $0.82 | $-1.89 | ||
| Q4 24 | $0.99 | $-0.72 | ||
| Q3 24 | $1.03 | $-1.18 | ||
| Q2 24 | $0.80 | $1.03 | ||
| Q1 24 | $0.84 | $-2.21 |
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 | — | $112.1M |
| 总债务越低越好 | $190.0M | $80.3M |
| 股东权益账面价值 | $438.8M | $-240.1M |
| 总资产 | $1.6B | $950.1M |
| 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APAMVATE
| Q4 25 | — | $112.1M | ||
| Q3 25 | — | $35.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.3M | ||
| Q4 24 | — | $48.8M | ||
| Q3 24 | — | $51.0M | ||
| Q2 24 | — | $80.2M | ||
| Q1 24 | — | $38.4M |
总债务APAMVATE
| Q4 25 | $190.0M | $80.3M | ||
| Q3 25 | $190.0M | $97.3M | ||
| Q2 25 | $200.0M | $160.1M | ||
| Q1 25 | $200.0M | $139.9M | ||
| Q4 24 | $200.0M | $500.6M | ||
| Q3 24 | $200.0M | $502.4M | ||
| Q2 24 | $200.0M | $638.3M | ||
| Q1 24 | $200.0M | $641.5M |
股东权益APAMVATE
| Q4 25 | $438.8M | $-240.1M | ||
| Q3 25 | $402.1M | $-233.3M | ||
| Q2 25 | $381.8M | $-224.8M | ||
| Q1 25 | $356.5M | $-204.2M | ||
| Q4 24 | $388.9M | $-180.4M | ||
| Q3 24 | $372.1M | $-163.1M | ||
| Q2 24 | $341.2M | $-149.0M | ||
| Q1 24 | $320.3M | $-184.4M |
总资产APAMVATE
| Q4 25 | $1.6B | $950.1M | ||
| Q3 25 | $1.6B | $913.2M | ||
| Q2 25 | $1.4B | $890.9M | ||
| Q1 25 | $1.4B | $868.0M | ||
| Q4 24 | $1.6B | $891.1M | ||
| Q3 24 | $1.6B | $897.2M | ||
| Q2 24 | $1.5B | $898.9M | ||
| Q1 24 | $1.5B | $943.5M |
负债/权益比APAMVATE
| 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 | $101.1M |
| 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APAMVATE
| Q4 25 | $172.0M | $101.1M | ||
| Q3 25 | $40.4M | $19.2M | ||
| Q2 25 | $50.9M | $40.4M | ||
| Q1 25 | $157.9M | $-14.1M | ||
| Q4 24 | $372.8M | $41.4M | ||
| Q3 24 | $112.8M | $-28.4M | ||
| Q2 24 | $75.9M | $21.5M | ||
| Q1 24 | $147.0M | $-25.4M |
自由现金流APAMVATE
| Q4 25 | $171.6M | — | ||
| Q3 25 | $40.4M | $19.0M | ||
| Q2 25 | $50.9M | — | ||
| Q1 25 | $157.7M | $-18.8M | ||
| Q4 24 | $371.3M | $34.2M | ||
| Q3 24 | $112.4M | $-31.5M | ||
| Q2 24 | $75.2M | $18.4M | ||
| Q1 24 | $146.9M | $-31.0M |
自由现金流率APAMVATE
| Q4 25 | 51.2% | — | ||
| Q3 25 | 13.4% | 5.5% | ||
| Q2 25 | 18.0% | — | ||
| Q1 25 | 56.9% | -6.9% | ||
| Q4 24 | 125.0% | 14.5% | ||
| Q3 24 | 40.2% | -13.0% | ||
| Q2 24 | 27.8% | 5.9% | ||
| Q1 24 | 55.6% | -9.8% |
资本支出强度APAMVATE
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.1% | 1.7% | ||
| Q4 24 | 0.5% | 3.0% | ||
| Q3 24 | 0.1% | 1.3% | ||
| Q2 24 | 0.2% | 1.0% | ||
| Q1 24 | 0.0% | 1.8% |
现金转化率APAMVATE
| 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× | 1.49× | ||
| 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
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
