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Array Technologies, Inc.（ARRY）与Enphase Energy（ENPH）财务数据对比。点击上方公司名可切换其他公司
Enphase Energy的季度营收约是Array Technologies, Inc.的1.3倍（$282.9M vs $226.0M），Array Technologies, Inc.同比增速更快（-17.9% vs -20.6%），Enphase Energy自由现金流更多（$83.0M vs $36.2M），过去两年Array Technologies, Inc.的营收复合增速更高（21.4% vs -3.4%）
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。
Enphase Energy是总部位于美国加利福尼亚州弗里蒙特的能源科技企业，成立于2006年，是全球首家成功实现光伏微型逆变器商业化的企业，主要面向住宅用户研发生产光伏微型逆变器、储能电池及电动汽车充电桩。
ARRY vs ENPH — 直观对比
营收规模更大
ENPH
是对方的1.3倍
$226.0M
营收增速更快
ARRY
高出2.7%
-20.6%
自由现金流更多
ENPH
多$46.8M
$36.2M
两年增速更快
ARRY
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $226.0M | $282.9M |
| 净利润 | — | $-7.4M |
| 毛利率 | 8.6% | 35.5% |
| 营业利润率 | -65.5% | — |
| 净利率 | — | -2.6% |
| 营收同比 | -17.9% | -20.6% |
| 净利润同比 | — | -124.9% |
| 每股收益（稀释后） | $-1.06 | $-0.06 |
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ARRYENPH
| Q1 26 | — | $282.9M | ||
| Q4 25 | $226.0M | $343.3M | ||
| Q3 25 | $393.5M | $410.4M | ||
| Q2 25 | $362.2M | $363.2M | ||
| Q1 25 | $302.4M | $356.1M | ||
| Q4 24 | $275.2M | $382.7M | ||
| Q3 24 | $231.4M | $380.9M | ||
| Q2 24 | $255.8M | $303.5M |
净利润ARRYENPH
| Q1 26 | — | $-7.4M | ||
| Q4 25 | — | $38.7M | ||
| Q3 25 | $33.5M | $66.6M | ||
| Q2 25 | $43.3M | $37.1M | ||
| Q1 25 | $16.7M | $29.7M | ||
| Q4 24 | — | $62.2M | ||
| Q3 24 | $-141.4M | $45.8M | ||
| Q2 24 | $25.7M | $10.8M |
毛利率ARRYENPH
| Q1 26 | — | 35.5% | ||
| Q4 25 | 8.6% | 44.3% | ||
| Q3 25 | 26.9% | 47.8% | ||
| Q2 25 | 26.8% | 46.9% | ||
| Q1 25 | 25.3% | 47.2% | ||
| Q4 24 | 28.5% | 51.8% | ||
| Q3 24 | 33.8% | 46.8% | ||
| Q2 24 | 33.6% | 45.2% |
营业利润率ARRYENPH
| Q1 26 | — | — | ||
| Q4 25 | -65.5% | 6.5% | ||
| Q3 25 | 11.6% | 16.1% | ||
| Q2 25 | 12.8% | 10.2% | ||
| Q1 25 | 9.0% | 9.0% | ||
| Q4 24 | -51.7% | 14.3% | ||
| Q3 24 | -57.3% | 13.1% | ||
| Q2 24 | 15.5% | 0.6% |
净利率ARRYENPH
| Q1 26 | — | -2.6% | ||
| Q4 25 | — | 11.3% | ||
| Q3 25 | 8.5% | 16.2% | ||
| Q2 25 | 11.9% | 10.2% | ||
| Q1 25 | 5.5% | 8.3% | ||
| Q4 24 | — | 16.2% | ||
| Q3 24 | -61.1% | 12.0% | ||
| Q2 24 | 10.0% | 3.6% |
每股收益（稀释后）ARRYENPH
| Q1 26 | — | $-0.06 | ||
| Q4 25 | $-1.06 | $0.29 | ||
| Q3 25 | $0.12 | $0.50 | ||
| Q2 25 | $0.19 | $0.28 | ||
| Q1 25 | $0.02 | $0.22 | ||
| Q4 24 | $-0.94 | $0.46 | ||
| Q3 24 | $-1.02 | $0.33 | ||
| Q2 24 | $0.08 | $0.08 |
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 | $497.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-206.3M | $1.1B |
| 总资产 | $1.5B | $2.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARRYENPH
| Q1 26 | — | $497.5M | ||
| Q4 25 | $244.4M | $1.5B | ||
| Q3 25 | $221.5M | $1.5B | ||
| Q2 25 | $377.3M | $1.5B | ||
| Q1 25 | $348.3M | $1.5B | ||
| Q4 24 | $363.0M | $1.6B | ||
| Q3 24 | $332.4M | $1.8B | ||
| Q2 24 | $282.3M | $1.6B |
总债务ARRYENPH
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B |
股东权益ARRYENPH
| Q1 26 | — | $1.1B | ||
| Q4 25 | $-206.3M | $1.1B | ||
| Q3 25 | $-46.7M | $995.0M | ||
| Q2 25 | $-70.9M | $880.6M | ||
| Q1 25 | $-97.8M | $810.7M | ||
| Q4 24 | $-118.1M | $833.0M | ||
| Q3 24 | $64.5M | $931.4M | ||
| Q2 24 | $200.0M | $884.5M |
总资产ARRYENPH
| Q1 26 | — | $2.7B | ||
| Q4 25 | $1.5B | $3.5B | ||
| Q3 25 | $1.6B | $3.3B | ||
| Q2 25 | $1.5B | $3.2B | ||
| Q1 25 | $1.4B | $3.1B | ||
| Q4 24 | $1.4B | $3.2B | ||
| Q3 24 | $1.6B | $3.3B | ||
| Q2 24 | $1.7B | $3.2B |
负债/权益比ARRYENPH
| Q1 26 | — | — | ||
| Q4 25 | — | 1.11× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.37× | ||
| Q1 25 | — | 1.48× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | — | 1.47× |
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 | $102.9M |
| 自由现金流经营现金流 - 资本支出 | $36.2M | $83.0M |
| 自由现金流率自由现金流/营收 | 16.0% | 29.3% |
| 资本支出强度资本支出/营收 | 3.3% | — |
| 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 | $145.1M |
8季度趋势，按日历期对齐
经营现金流ARRYENPH
| Q1 26 | — | $102.9M | ||
| Q4 25 | $43.6M | $47.6M | ||
| Q3 25 | $27.4M | $13.9M | ||
| Q2 25 | $43.8M | $26.6M | ||
| Q1 25 | $-13.1M | $48.4M | ||
| Q4 24 | $57.6M | $167.3M | ||
| Q3 24 | $44.9M | $170.1M | ||
| Q2 24 | $4.0M | $127.1M |
自由现金流ARRYENPH
| Q1 26 | — | $83.0M | ||
| Q4 25 | $36.2M | $37.8M | ||
| Q3 25 | $21.9M | $5.9M | ||
| Q2 25 | $37.2M | $18.4M | ||
| Q1 25 | $-15.4M | $33.8M | ||
| Q4 24 | $55.9M | $159.2M | ||
| Q3 24 | $43.9M | $161.6M | ||
| Q2 24 | $1.8M | $117.4M |
自由现金流率ARRYENPH
| Q1 26 | — | 29.3% | ||
| Q4 25 | 16.0% | 11.0% | ||
| Q3 25 | 5.6% | 1.4% | ||
| Q2 25 | 10.3% | 5.1% | ||
| Q1 25 | -5.1% | 9.5% | ||
| Q4 24 | 20.3% | 41.6% | ||
| Q3 24 | 19.0% | 42.4% | ||
| Q2 24 | 0.7% | 38.7% |
资本支出强度ARRYENPH
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 2.8% | ||
| Q3 25 | 1.4% | 2.0% | ||
| Q2 25 | 1.8% | 2.3% | ||
| Q1 25 | 0.8% | 4.1% | ||
| Q4 24 | 0.6% | 2.1% | ||
| Q3 24 | 0.5% | 2.2% | ||
| Q2 24 | 0.8% | 3.2% |
现金转化率ARRYENPH
| Q1 26 | — | — | ||
| Q4 25 | — | 1.23× | ||
| Q3 25 | 0.82× | 0.21× | ||
| Q2 25 | 1.01× | 0.72× | ||
| Q1 25 | -0.78× | 1.63× | ||
| Q4 24 | — | 2.69× | ||
| Q3 24 | — | 3.72× | ||
| Q2 24 | 0.15× | 11.73× |
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% |
ENPH
暂无分部数据
