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Array Technologies, Inc.（ARRY）与亚什兰（ASH）财务数据对比。点击上方公司名可切换其他公司
亚什兰的季度营收约是Array Technologies, Inc.的1.7倍（$386.0M vs $226.0M），亚什兰同比增速更快（-4.7% vs -17.9%），亚什兰自由现金流更多（$111.0M vs $36.2M），过去两年Array Technologies, Inc.的营收复合增速更高（21.4% vs -18.1%）
ATI科技是原加拿大半导体科技企业，总部位于安大略省万锦市，专注于图形处理器与芯片组的研发，1985年成立，1993年公开上市，2006年被AMD收购。作为全球知名的无晶圆厂半导体厂商，其掌握自研核心技术，生产组装环节采用外包模式。2000年3dfx破产后，ATI成为全球图形芯片领域的核心厂商之一。
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
ARRY vs ASH — 直观对比
营收规模更大
ASH
是对方的1.7倍
$226.0M
营收增速更快
ASH
高出13.2%
-17.9%
自由现金流更多
ASH
多$74.8M
$36.2M
两年增速更快
ARRY
近两年复合增速
-18.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $226.0M | $386.0M |
| 净利润 | — | $-12.0M |
| 毛利率 | 8.6% | 27.2% |
| 营业利润率 | -65.5% | -1.6% |
| 净利率 | — | -3.1% |
| 营收同比 | -17.9% | -4.7% |
| 净利润同比 | — | 92.7% |
| 每股收益（稀释后） | $-1.06 | $-0.26 |
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ARRYASH
| Q4 25 | $226.0M | $386.0M | ||
| Q3 25 | $393.5M | $477.0M | ||
| Q2 25 | $362.2M | $463.0M | ||
| Q1 25 | $302.4M | $479.0M | ||
| Q4 24 | $275.2M | $405.0M | ||
| Q3 24 | $231.4M | $521.0M | ||
| Q2 24 | $255.8M | $544.0M | ||
| Q1 24 | $153.4M | $575.0M |
净利润ARRYASH
| Q4 25 | — | $-12.0M | ||
| Q3 25 | $33.5M | $31.0M | ||
| Q2 25 | $43.3M | $-742.0M | ||
| Q1 25 | $16.7M | $31.0M | ||
| Q4 24 | — | $-165.0M | ||
| Q3 24 | $-141.4M | $17.0M | ||
| Q2 24 | $25.7M | $6.0M | ||
| Q1 24 | $2.2M | $120.0M |
毛利率ARRYASH
| Q4 25 | 8.6% | 27.2% | ||
| Q3 25 | 26.9% | 33.3% | ||
| Q2 25 | 26.8% | 28.5% | ||
| Q1 25 | 25.3% | 30.7% | ||
| Q4 24 | 28.5% | 27.4% | ||
| Q3 24 | 33.8% | 33.2% | ||
| Q2 24 | 33.6% | 34.2% | ||
| Q1 24 | 35.9% | 28.0% |
营业利润率ARRYASH
| Q4 25 | -65.5% | -1.6% | ||
| Q3 25 | 11.6% | 12.8% | ||
| Q2 25 | 12.8% | -152.9% | ||
| Q1 25 | 9.0% | 10.6% | ||
| Q4 24 | -51.7% | -44.2% | ||
| Q3 24 | -57.3% | 6.1% | ||
| Q2 24 | 15.5% | -11.2% | ||
| Q1 24 | 5.5% | 3.7% |
净利率ARRYASH
| Q4 25 | — | -3.1% | ||
| Q3 25 | 8.5% | 6.5% | ||
| Q2 25 | 11.9% | -160.3% | ||
| Q1 25 | 5.5% | 6.5% | ||
| Q4 24 | — | -40.7% | ||
| Q3 24 | -61.1% | 3.3% | ||
| Q2 24 | 10.0% | 1.1% | ||
| Q1 24 | 1.4% | 20.9% |
每股收益（稀释后）ARRYASH
| Q4 25 | $-1.06 | $-0.26 | ||
| Q3 25 | $0.12 | $0.83 | ||
| Q2 25 | $0.19 | $-16.21 | ||
| Q1 25 | $0.02 | $0.65 | ||
| Q4 24 | $-0.94 | $-3.50 | ||
| Q3 24 | $-1.02 | $0.34 | ||
| Q2 24 | $0.08 | $0.12 | ||
| Q1 24 | $-0.07 | $2.39 |
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 | $244.4M | $304.0M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $-206.3M | $1.9B |
| 总资产 | $1.5B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.74× |
8季度趋势，按日历期对齐
现金及短期投资ARRYASH
| Q4 25 | $244.4M | $304.0M | ||
| Q3 25 | $221.5M | $215.0M | ||
| Q2 25 | $377.3M | $207.0M | ||
| Q1 25 | $348.3M | $168.0M | ||
| Q4 24 | $363.0M | $219.0M | ||
| Q3 24 | $332.4M | $300.0M | ||
| Q2 24 | $282.3M | $399.0M | ||
| Q1 24 | $287.6M | $439.0M |
总债务ARRYASH
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.3B |
股东权益ARRYASH
| Q4 25 | $-206.3M | $1.9B | ||
| Q3 25 | $-46.7M | $1.9B | ||
| Q2 25 | $-70.9M | $1.9B | ||
| Q1 25 | $-97.8M | $2.6B | ||
| Q4 24 | $-118.1M | $2.6B | ||
| Q3 24 | $64.5M | $2.9B | ||
| Q2 24 | $200.0M | $3.0B | ||
| Q1 24 | $231.2M | $3.1B |
总资产ARRYASH
| Q4 25 | $1.5B | $4.5B | ||
| Q3 25 | $1.6B | $4.6B | ||
| Q2 25 | $1.5B | $4.6B | ||
| Q1 25 | $1.4B | $5.2B | ||
| Q4 24 | $1.4B | $5.2B | ||
| Q3 24 | $1.6B | $5.6B | ||
| Q2 24 | $1.7B | $5.7B | ||
| Q1 24 | $1.6B | $5.9B |
负债/权益比ARRYASH
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.73× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.52× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.45× | ||
| Q1 24 | — | 0.42× |
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 | $43.6M | $125.0M |
| 自由现金流经营现金流 - 资本支出 | $36.2M | $111.0M |
| 自由现金流率自由现金流/营收 | 16.0% | 28.8% |
| 资本支出强度资本支出/营收 | 3.3% | 3.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $79.8M | $200.0M |
8季度趋势，按日历期对齐
经营现金流ARRYASH
| Q4 25 | $43.6M | $125.0M | ||
| Q3 25 | $27.4M | $40.0M | ||
| Q2 25 | $43.8M | $115.0M | ||
| Q1 25 | $-13.1M | $9.0M | ||
| Q4 24 | $57.6M | $-30.0M | ||
| Q3 24 | $44.9M | $80.0M | ||
| Q2 24 | $4.0M | $127.0M | ||
| Q1 24 | $47.5M | $54.0M |
自由现金流ARRYASH
| Q4 25 | $36.2M | $111.0M | ||
| Q3 25 | $21.9M | $6.0M | ||
| Q2 25 | $37.2M | $95.0M | ||
| Q1 25 | $-15.4M | $-12.0M | ||
| Q4 24 | $55.9M | $-53.0M | ||
| Q3 24 | $43.9M | $42.0M | ||
| Q2 24 | $1.8M | $98.0M | ||
| Q1 24 | $45.1M | $20.0M |
自由现金流率ARRYASH
| Q4 25 | 16.0% | 28.8% | ||
| Q3 25 | 5.6% | 1.3% | ||
| Q2 25 | 10.3% | 20.5% | ||
| Q1 25 | -5.1% | -2.5% | ||
| Q4 24 | 20.3% | -13.1% | ||
| Q3 24 | 19.0% | 8.1% | ||
| Q2 24 | 0.7% | 18.0% | ||
| Q1 24 | 29.4% | 3.5% |
资本支出强度ARRYASH
| Q4 25 | 3.3% | 3.6% | ||
| Q3 25 | 1.4% | 7.1% | ||
| Q2 25 | 1.8% | 4.3% | ||
| Q1 25 | 0.8% | 4.4% | ||
| Q4 24 | 0.6% | 5.7% | ||
| Q3 24 | 0.5% | 7.3% | ||
| Q2 24 | 0.8% | 5.3% | ||
| Q1 24 | 1.6% | 5.9% |
现金转化率ARRYASH
| Q4 25 | — | — | ||
| Q3 25 | 0.82× | 1.29× | ||
| Q2 25 | 1.01× | — | ||
| Q1 25 | -0.78× | 0.29× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 4.71× | ||
| Q2 24 | 0.15× | 21.17× | ||
| Q1 24 | 21.94× | 0.45× |
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
ARRY
| Array Legacy Operations Segment | $212.0M | 94% |
| STI Operations Segment | $14.0M | 6% |
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
