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Array Technologies, Inc.（ARRY）与Mueller Water Products, Inc.（MWA）财务数据对比。点击上方公司名可切换其他公司
Mueller Water Products, Inc.的季度营收约是Array Technologies, Inc.的1.4倍（$318.2M vs $226.0M），Mueller Water Products, Inc.同比增速更快（4.6% vs -17.9%），Mueller Water Products, Inc.自由现金流更多（$44.0M vs $36.2M），过去两年Array Technologies, Inc.的营收复合增速更高（21.4% vs -5.1%）
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。
穆勒水业（Mueller Water Products, Inc.）是总部位于美国佐治亚州亚特兰大的上市企业，为北美规模顶尖的消防栓、闸阀及其他水务基础设施产品生产商与分销商之一，旗下设有Mueller Co.和Mueller Technologies两大业务单元，运营包括Echologics、Mueller Systems在内的十余个品牌及关联主体。
ARRY vs MWA — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $226.0M | $318.2M |
| 净利润 | — | $43.2M |
| 毛利率 | 8.6% | 37.6% |
| 营业利润率 | -65.5% | 17.8% |
| 净利率 | — | 13.6% |
| 营收同比 | -17.9% | 4.6% |
| 净利润同比 | — | 22.4% |
| 每股收益（稀释后） | $-1.06 | $0.27 |
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
| Q4 25 | $226.0M | $318.2M | ||
| Q3 25 | $393.5M | $380.8M | ||
| Q2 25 | $362.2M | $380.3M | ||
| Q1 25 | $302.4M | $364.3M | ||
| Q4 24 | $275.2M | $304.3M | ||
| Q3 24 | $231.4M | $348.2M | ||
| Q2 24 | $255.8M | $356.7M | ||
| Q1 24 | $153.4M | $353.4M |
| Q4 25 | — | $43.2M | ||
| Q3 25 | $33.5M | $52.6M | ||
| Q2 25 | $43.3M | $52.5M | ||
| Q1 25 | $16.7M | $51.3M | ||
| Q4 24 | — | $35.3M | ||
| Q3 24 | $-141.4M | $10.0M | ||
| Q2 24 | $25.7M | $47.3M | ||
| Q1 24 | $2.2M | $44.3M |
| Q4 25 | 8.6% | 37.6% | ||
| Q3 25 | 26.9% | 36.8% | ||
| Q2 25 | 26.8% | 38.3% | ||
| Q1 25 | 25.3% | 35.1% | ||
| Q4 24 | 28.5% | 33.8% | ||
| Q3 24 | 33.8% | 31.8% | ||
| Q2 24 | 33.6% | 36.8% | ||
| Q1 24 | 35.9% | 36.9% |
| Q4 25 | -65.5% | 17.8% | ||
| Q3 25 | 11.6% | 18.3% | ||
| Q2 25 | 12.8% | 19.4% | ||
| Q1 25 | 9.0% | 19.2% | ||
| Q4 24 | -51.7% | 15.6% | ||
| Q3 24 | -57.3% | 8.2% | ||
| Q2 24 | 15.5% | 18.8% | ||
| Q1 24 | 5.5% | 18.0% |
| Q4 25 | — | 13.6% | ||
| Q3 25 | 8.5% | 13.8% | ||
| Q2 25 | 11.9% | 13.8% | ||
| Q1 25 | 5.5% | 14.1% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | -61.1% | 2.9% | ||
| Q2 24 | 10.0% | 13.3% | ||
| Q1 24 | 1.4% | 12.5% |
| Q4 25 | $-1.06 | $0.27 | ||
| Q3 25 | $0.12 | $0.34 | ||
| Q2 25 | $0.19 | $0.33 | ||
| Q1 25 | $0.02 | $0.33 | ||
| Q4 24 | $-0.94 | $0.22 | ||
| Q3 24 | $-1.02 | $0.07 | ||
| Q2 24 | $0.08 | $0.30 | ||
| Q1 24 | $-0.07 | $0.28 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-206.3M | $1.0B |
| 总资产 | $1.5B | $1.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $244.4M | — | ||
| Q3 25 | $221.5M | — | ||
| Q2 25 | $377.3M | — | ||
| Q1 25 | $348.3M | — | ||
| Q4 24 | $363.0M | — | ||
| Q3 24 | $332.4M | — | ||
| Q2 24 | $282.3M | — | ||
| Q1 24 | $287.6M | — |
| Q4 25 | $-206.3M | $1.0B | ||
| Q3 25 | $-46.7M | $981.7M | ||
| Q2 25 | $-70.9M | $929.0M | ||
| Q1 25 | $-97.8M | $873.6M | ||
| Q4 24 | $-118.1M | $834.1M | ||
| Q3 24 | $64.5M | $810.1M | ||
| Q2 24 | $200.0M | $791.6M | ||
| Q1 24 | $231.2M | $754.5M |
| Q4 25 | $1.5B | $1.8B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.7B | $1.6B | ||
| Q1 24 | $1.6B | $1.5B |
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 | $61.2M |
| 自由现金流经营现金流 - 资本支出 | $36.2M | $44.0M |
| 自由现金流率自由现金流/营收 | 16.0% | 13.8% |
| 资本支出强度资本支出/营收 | 3.3% | 5.4% |
| 现金转化率经营现金流/净利润 | — | 1.42× |
| 过去12个月自由现金流最近4个季度 | $79.8M | $173.8M |
8季度趋势，按日历期对齐
| Q4 25 | $43.6M | $61.2M | ||
| Q3 25 | $27.4M | $83.5M | ||
| Q2 25 | $43.8M | $67.4M | ||
| Q1 25 | $-13.1M | $14.3M | ||
| Q4 24 | $57.6M | $54.1M | ||
| Q3 24 | $44.9M | $89.3M | ||
| Q2 24 | $4.0M | $87.3M | ||
| Q1 24 | $47.5M | $-5.7M |
| Q4 25 | $36.2M | $44.0M | ||
| Q3 25 | $21.9M | $69.0M | ||
| Q2 25 | $37.2M | $55.7M | ||
| Q1 25 | $-15.4M | $5.1M | ||
| Q4 24 | $55.9M | $42.2M | ||
| Q3 24 | $43.9M | $69.9M | ||
| Q2 24 | $1.8M | $75.1M | ||
| Q1 24 | $45.1M | $-15.8M |
| Q4 25 | 16.0% | 13.8% | ||
| Q3 25 | 5.6% | 18.1% | ||
| Q2 25 | 10.3% | 14.6% | ||
| Q1 25 | -5.1% | 1.4% | ||
| Q4 24 | 20.3% | 13.9% | ||
| Q3 24 | 19.0% | 20.1% | ||
| Q2 24 | 0.7% | 21.1% | ||
| Q1 24 | 29.4% | -4.5% |
| Q4 25 | 3.3% | 5.4% | ||
| Q3 25 | 1.4% | 3.8% | ||
| Q2 25 | 1.8% | 3.1% | ||
| Q1 25 | 0.8% | 2.5% | ||
| Q4 24 | 0.6% | 3.9% | ||
| Q3 24 | 0.5% | 5.6% | ||
| Q2 24 | 0.8% | 3.4% | ||
| Q1 24 | 1.6% | 2.9% |
| Q4 25 | — | 1.42× | ||
| Q3 25 | 0.82× | 1.59× | ||
| Q2 25 | 1.01× | 1.28× | ||
| Q1 25 | -0.78× | 0.28× | ||
| Q4 24 | — | 1.53× | ||
| Q3 24 | — | 8.93× | ||
| Q2 24 | 0.15× | 1.85× | ||
| Q1 24 | 21.94× | -0.13× |
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% |
MWA
| Water Flow Solutions | $173.0M | 54% |
| Water Management Solutions | $145.2M | 46% |
