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Array Technologies, Inc.（ARRY）与MarketAxess（MKTX）财务数据对比。点击上方公司名可切换其他公司
Array Technologies, Inc.的季度营收约是MarketAxess的1.1倍（$226.0M vs $209.4M），MarketAxess同比增速更快（3.5% vs -17.9%），MarketAxess自由现金流更多（$373.9M vs $36.2M），过去两年Array Technologies, Inc.的营收复合增速更高（21.4% vs -0.2%）
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。
MarketAxess Holdings Inc.是一家国际金融科技企业，运营面向机构信贷市场的电子交易平台，同时提供市场数据及交易后服务，支持机构投资者、经纪自营商开展企业债券等各类固定收益类信用工具的交易。
ARRY vs MKTX — 直观对比
营收规模更大
ARRY
是对方的1.1倍
$209.4M
营收增速更快
MKTX
高出21.3%
-17.9%
自由现金流更多
MKTX
多$337.8M
$36.2M
两年增速更快
ARRY
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $226.0M | $209.4M |
| 净利润 | — | $92.2M |
| 毛利率 | 8.6% | — |
| 营业利润率 | -65.5% | 36.3% |
| 净利率 | — | 44.0% |
| 营收同比 | -17.9% | 3.5% |
| 净利润同比 | — | 41.6% |
| 每股收益（稀释后） | $-1.06 | $2.49 |
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ARRYMKTX
| Q4 25 | $226.0M | $209.4M | ||
| Q3 25 | $393.5M | $208.8M | ||
| Q2 25 | $362.2M | $219.5M | ||
| Q1 25 | $302.4M | $208.6M | ||
| Q4 24 | $275.2M | $202.4M | ||
| Q3 24 | $231.4M | $206.7M | ||
| Q2 24 | $255.8M | $197.7M | ||
| Q1 24 | $153.4M | $210.3M |
净利润ARRYMKTX
| Q4 25 | — | $92.2M | ||
| Q3 25 | $33.5M | $68.2M | ||
| Q2 25 | $43.3M | $71.1M | ||
| Q1 25 | $16.7M | $15.1M | ||
| Q4 24 | — | $65.1M | ||
| Q3 24 | $-141.4M | $71.5M | ||
| Q2 24 | $25.7M | $64.9M | ||
| Q1 24 | $2.2M | $72.6M |
毛利率ARRYMKTX
| Q4 25 | 8.6% | — | ||
| Q3 25 | 26.9% | — | ||
| Q2 25 | 26.8% | — | ||
| Q1 25 | 25.3% | — | ||
| Q4 24 | 28.5% | — | ||
| Q3 24 | 33.8% | — | ||
| Q2 24 | 33.6% | — | ||
| Q1 24 | 35.9% | — |
营业利润率ARRYMKTX
| Q4 25 | -65.5% | 36.3% | ||
| Q3 25 | 11.6% | 41.0% | ||
| Q2 25 | 12.8% | 41.9% | ||
| Q1 25 | 9.0% | 42.4% | ||
| Q4 24 | -51.7% | 39.5% | ||
| Q3 24 | -57.3% | 42.1% | ||
| Q2 24 | 15.5% | 41.2% | ||
| Q1 24 | 5.5% | 44.0% |
净利率ARRYMKTX
| Q4 25 | — | 44.0% | ||
| Q3 25 | 8.5% | 32.6% | ||
| Q2 25 | 11.9% | 32.4% | ||
| Q1 25 | 5.5% | 7.2% | ||
| Q4 24 | — | 32.2% | ||
| Q3 24 | -61.1% | 34.6% | ||
| Q2 24 | 10.0% | 32.9% | ||
| Q1 24 | 1.4% | 34.5% |
每股收益（稀释后）ARRYMKTX
| Q4 25 | $-1.06 | $2.49 | ||
| Q3 25 | $0.12 | $1.84 | ||
| Q2 25 | $0.19 | $1.91 | ||
| Q1 25 | $0.02 | $0.40 | ||
| Q4 24 | $-0.94 | $1.74 | ||
| Q3 24 | $-1.02 | $1.90 | ||
| Q2 24 | $0.08 | $1.72 | ||
| Q1 24 | $-0.07 | $1.92 |
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 | $519.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-206.3M | $1.1B |
| 总资产 | $1.5B | $1.9B |
| 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ARRYMKTX
| Q4 25 | $244.4M | $519.7M | ||
| Q3 25 | $221.5M | $473.3M | ||
| Q2 25 | $377.3M | $462.8M | ||
| Q1 25 | $348.3M | $486.2M | ||
| Q4 24 | $363.0M | $544.5M | ||
| Q3 24 | $332.4M | $446.3M | ||
| Q2 24 | $282.3M | $434.1M | ||
| Q1 24 | $287.6M | $376.7M |
股东权益ARRYMKTX
| Q4 25 | $-206.3M | $1.1B | ||
| Q3 25 | $-46.7M | $1.4B | ||
| Q2 25 | $-70.9M | $1.4B | ||
| Q1 25 | $-97.8M | $1.3B | ||
| Q4 24 | $-118.1M | $1.4B | ||
| Q3 24 | $64.5M | $1.4B | ||
| Q2 24 | $200.0M | $1.3B | ||
| Q1 24 | $231.2M | $1.3B |
总资产ARRYMKTX
| Q4 25 | $1.5B | $1.9B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.5B | $2.0B | ||
| Q1 25 | $1.4B | $1.9B | ||
| Q4 24 | $1.4B | $1.8B | ||
| Q3 24 | $1.6B | $1.8B | ||
| Q2 24 | $1.7B | $1.9B | ||
| Q1 24 | $1.6B | $1.9B |
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 | $382.1M |
| 自由现金流经营现金流 - 资本支出 | $36.2M | $373.9M |
| 自由现金流率自由现金流/营收 | 16.0% | 178.6% |
| 资本支出强度资本支出/营收 | 3.3% | 3.9% |
| 现金转化率经营现金流/净利润 | — | 4.14× |
| 过去12个月自由现金流最近4个季度 | $79.8M | $592.8M |
8季度趋势，按日历期对齐
经营现金流ARRYMKTX
| Q4 25 | $43.6M | $382.1M | ||
| Q3 25 | $27.4M | $90.2M | ||
| Q2 25 | $43.8M | $103.7M | ||
| Q1 25 | $-13.1M | $29.6M | ||
| Q4 24 | $57.6M | $385.2M | ||
| Q3 24 | $44.9M | $95.1M | ||
| Q2 24 | $4.0M | $118.8M | ||
| Q1 24 | $47.5M | $-4.9M |
自由现金流ARRYMKTX
| Q4 25 | $36.2M | $373.9M | ||
| Q3 25 | $21.9M | $88.7M | ||
| Q2 25 | $37.2M | $102.5M | ||
| Q1 25 | $-15.4M | $27.7M | ||
| Q4 24 | $55.9M | $375.3M | ||
| Q3 24 | $43.9M | $94.3M | ||
| Q2 24 | $1.8M | $111.2M | ||
| Q1 24 | $45.1M | $-6.1M |
自由现金流率ARRYMKTX
| Q4 25 | 16.0% | 178.6% | ||
| Q3 25 | 5.6% | 42.5% | ||
| Q2 25 | 10.3% | 46.7% | ||
| Q1 25 | -5.1% | 13.3% | ||
| Q4 24 | 20.3% | 185.4% | ||
| Q3 24 | 19.0% | 45.6% | ||
| Q2 24 | 0.7% | 56.2% | ||
| Q1 24 | 29.4% | -2.9% |
资本支出强度ARRYMKTX
| Q4 25 | 3.3% | 3.9% | ||
| Q3 25 | 1.4% | 0.7% | ||
| Q2 25 | 1.8% | 0.5% | ||
| Q1 25 | 0.8% | 0.9% | ||
| Q4 24 | 0.6% | 4.9% | ||
| Q3 24 | 0.5% | 0.4% | ||
| Q2 24 | 0.8% | 3.9% | ||
| Q1 24 | 1.6% | 0.6% |
现金转化率ARRYMKTX
| Q4 25 | — | 4.14× | ||
| Q3 25 | 0.82× | 1.32× | ||
| Q2 25 | 1.01× | 1.46× | ||
| Q1 25 | -0.78× | 1.97× | ||
| Q4 24 | — | 5.91× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | 0.15× | 1.83× | ||
| Q1 24 | 21.94× | -0.07× |
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% |
MKTX
| Commission Revenue | $181.3M | 87% |
| Information Services | $13.5M | 6% |
| Post Trade Services | $11.0M | 5% |
| Technology Services | $3.6M | 2% |
