vs
APOGEE ENTERPRISES, INC.（APOG）与USA Compression Partners, LP（USAC）财务数据对比。点击上方公司名可切换其他公司
APOGEE ENTERPRISES, INC.的季度营收约是USA Compression Partners, LP的1.4倍（$351.4M vs $252.5M），USA Compression Partners, LP净利率更高（11.0% vs 4.7%，领先6.3%），USA Compression Partners, LP同比增速更快（2.7% vs 1.6%），过去两年USA Compression Partners, LP的营收复合增速更高（4.9% vs 2.9%）
Apogee Enterprises是一家美国音频设备制造商，主营音频接口、模数与数模转换器、USB及iOS麦克风，同时还开发音频制作相关软件，产品广泛服务于专业录音、音乐创作等音频领域，在全球音频行业拥有较高的认可度。
USA Compression Partners, LP是一家总部位于美国的天然气压缩服务供应商，服务覆盖油气行业上游、中游及下游领域，提供定制化压缩系统、设备维护与运营支持，助力天然气生产、加工和运输环节高效运转。
APOG vs USAC — 直观对比
营收规模更大
APOG
是对方的1.4倍
$252.5M
营收增速更快
USAC
高出1.1%
1.6%
净利率更高
USAC
高出6.3%
4.7%
两年增速更快
USAC
近两年复合增速
2.9%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $351.4M | $252.5M |
| 净利润 | $16.6M | $27.8M |
| 毛利率 | 22.4% | — |
| 营业利润率 | 7.3% | 30.3% |
| 净利率 | 4.7% | 11.0% |
| 营收同比 | 1.6% | 2.7% |
| 净利润同比 | 568.8% | 9.1% |
| 每股收益（稀释后） | $0.78 | — |
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APOGUSAC
| Q1 26 | $351.4M | — | ||
| Q4 25 | $348.6M | $252.5M | ||
| Q3 25 | $358.2M | $250.3M | ||
| Q2 25 | $346.6M | $250.1M | ||
| Q1 25 | $345.7M | $245.2M | ||
| Q4 24 | $341.3M | $245.9M | ||
| Q3 24 | $342.4M | $240.0M | ||
| Q2 24 | $331.5M | $235.3M |
净利润APOGUSAC
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $27.8M | ||
| Q3 25 | $23.6M | $34.5M | ||
| Q2 25 | $-2.7M | $28.6M | ||
| Q1 25 | $2.5M | $20.5M | ||
| Q4 24 | $21.0M | $25.4M | ||
| Q3 24 | $30.6M | $19.3M | ||
| Q2 24 | $31.0M | $31.2M |
毛利率APOGUSAC
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | — | ||
| Q3 25 | 23.1% | — | ||
| Q2 25 | 21.7% | — | ||
| Q1 25 | 21.6% | — | ||
| Q4 24 | 26.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 29.8% | — |
营业利润率APOGUSAC
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | 30.3% | ||
| Q3 25 | 7.5% | 33.5% | ||
| Q2 25 | 2.0% | 30.6% | ||
| Q1 25 | 1.8% | 28.3% | ||
| Q4 24 | 8.4% | 30.3% | ||
| Q3 24 | 12.3% | 31.5% | ||
| Q2 24 | 12.5% | 32.9% |
净利率APOGUSAC
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | 11.0% | ||
| Q3 25 | 6.6% | 13.8% | ||
| Q2 25 | -0.8% | 11.4% | ||
| Q1 25 | 0.7% | 8.4% | ||
| Q4 24 | 6.1% | 10.3% | ||
| Q3 24 | 8.9% | 8.1% | ||
| Q2 24 | 9.4% | 13.3% |
每股收益（稀释后）APOGUSAC
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | — | ||
| Q3 25 | $1.10 | — | ||
| Q2 25 | $-0.13 | — | ||
| Q1 25 | $0.12 | — | ||
| Q4 24 | $0.96 | — | ||
| Q3 24 | $1.40 | — | ||
| Q2 24 | $1.41 | — |
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 | $39.5M | $8.6M |
| 总债务越低越好 | $232.3M | $2.5B |
| 股东权益账面价值 | $511.8M | — |
| 总资产 | $1.1B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.45× | — |
8季度趋势，按日历期对齐
现金及短期投资APOGUSAC
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | $8.6M | ||
| Q3 25 | $39.5M | — | ||
| Q2 25 | $32.8M | $2.0K | ||
| Q1 25 | $41.4M | $2.0K | ||
| Q4 24 | $43.9M | $14.0K | ||
| Q3 24 | $51.0M | $79.0K | ||
| Q2 24 | $30.4M | $9.0K |
总债务APOGUSAC
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | $285.0M | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B |
股东权益APOGUSAC
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | — | ||
| Q3 25 | $500.2M | — | ||
| Q2 25 | $481.8M | — | ||
| Q1 25 | $487.9M | — | ||
| Q4 24 | $522.1M | — | ||
| Q3 24 | $506.4M | — | ||
| Q2 24 | $480.0M | — |
总资产APOGUSAC
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $2.6B | ||
| Q3 25 | $1.2B | $2.7B | ||
| Q2 25 | $1.2B | $2.7B | ||
| Q1 25 | $1.2B | $2.7B | ||
| Q4 24 | $1.2B | $2.7B | ||
| Q3 24 | $917.1M | $2.8B | ||
| Q2 24 | $889.0M | $2.8B |
负债/权益比APOGUSAC
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | — | ||
| 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 | $122.5M | $139.5M |
| 自由现金流经营现金流 - 资本支出 | — | $87.7M |
| 自由现金流率自由现金流/营收 | — | 34.8% |
| 资本支出强度资本支出/营收 | 7.8% | 20.5% |
| 现金转化率经营现金流/净利润 | 7.37× | 5.02× |
| 过去12个月自由现金流最近4个季度 | — | $277.0M |
8季度趋势，按日历期对齐
经营现金流APOGUSAC
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $139.5M | ||
| Q3 25 | $57.1M | $75.9M | ||
| Q2 25 | $-19.8M | $124.2M | ||
| Q1 25 | $30.0M | $54.7M | ||
| Q4 24 | $31.0M | $130.2M | ||
| Q3 24 | $58.7M | $48.5M | ||
| Q2 24 | $5.5M | $96.7M |
自由现金流APOGUSAC
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $87.7M | ||
| Q3 25 | $52.4M | $51.9M | ||
| Q2 25 | $-26.9M | $101.1M | ||
| Q1 25 | $19.1M | $36.3M | ||
| Q4 24 | $22.0M | $101.2M | ||
| Q3 24 | $50.2M | $19.8M | ||
| Q2 24 | $-1.8M | $48.2M |
自由现金流率APOGUSAC
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 34.8% | ||
| Q3 25 | 14.6% | 20.7% | ||
| Q2 25 | -7.8% | 40.4% | ||
| Q1 25 | 5.5% | 14.8% | ||
| Q4 24 | 6.4% | 41.1% | ||
| Q3 24 | 14.7% | 8.2% | ||
| Q2 24 | -0.5% | 20.5% |
资本支出强度APOGUSAC
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 20.5% | ||
| Q3 25 | 1.3% | 9.6% | ||
| Q2 25 | 2.1% | 9.3% | ||
| Q1 25 | 3.2% | 7.5% | ||
| Q4 24 | 2.6% | 11.8% | ||
| Q3 24 | 2.5% | 12.0% | ||
| Q2 24 | 2.2% | 20.6% |
现金转化率APOGUSAC
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 5.02× | ||
| Q3 25 | 2.41× | 2.20× | ||
| Q2 25 | — | 4.35× | ||
| Q1 25 | 12.08× | 2.66× | ||
| Q4 24 | 1.48× | 5.12× | ||
| Q3 24 | 1.92× | 2.51× | ||
| Q2 24 | 0.18× | 3.10× |
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
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
USAC
| Revenue From Contract Operations Excluding Revenue From Related Party | $231.7M | 92% |
| Entities Affiliated With Energy Transfer LP | $16.6M | 7% |
| Transferred At Point In Time | $5.4M | 2% |
