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Accelerant Holdings（ARX）与DUCOMMUN INC（DCO）财务数据对比。点击上方公司名可切换其他公司
Accelerant Holdings的季度营收约是DUCOMMUN INC的1.2倍（$267.4M vs $215.8M），DUCOMMUN INC净利率更高（3.4% vs -511.9%，领先515.3%）
Accelerant Holdings是一家全球特种保险与再保险科技平台，依托先进数据分析和风险评估工具，为保险公司、总代理及承保合作伙伴提供定制化风险解决方案，优化承保流程，业务覆盖北美及欧洲的商业和特种保险领域。
杜科蒙是一家全球性航空航天与国防制造企业，主要供应复杂结构部件、电子系统，提供专业工程服务，覆盖商用航空、军事国防、航天领域客户，交付适用于关键航空航天场景的高可靠性解决方案。
ARX vs DCO — 直观对比
营收规模更大
ARX
是对方的1.2倍
$215.8M
净利率更高
DCO
高出515.3%
-511.9%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $267.4M | $215.8M |
| 净利润 | $-1.4B | $7.4M |
| 毛利率 | — | 27.7% |
| 营业利润率 | -507.7% | 6.5% |
| 净利率 | -511.9% | 3.4% |
| 营收同比 | — | 9.4% |
| 净利润同比 | — | 9.9% |
| 每股收益（稀释后） | $-6.99 | $0.52 |
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ARXDCO
| Q4 25 | — | $215.8M | ||
| Q3 25 | $267.4M | $212.6M | ||
| Q2 25 | $219.1M | $202.3M | ||
| Q1 25 | — | $194.1M | ||
| Q4 24 | — | $197.3M | ||
| Q3 24 | — | $201.4M | ||
| Q2 24 | — | $197.0M | ||
| Q1 24 | — | $190.8M |
净利润ARXDCO
| Q4 25 | — | $7.4M | ||
| Q3 25 | $-1.4B | $-64.4M | ||
| Q2 25 | $8.8M | $12.6M | ||
| Q1 25 | — | $10.5M | ||
| Q4 24 | — | $6.8M | ||
| Q3 24 | — | $10.1M | ||
| Q2 24 | — | $7.7M | ||
| Q1 24 | — | $6.8M |
毛利率ARXDCO
| Q4 25 | — | 27.7% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 26.6% | ||
| Q1 25 | — | 26.6% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 26.0% | ||
| Q1 24 | — | 24.6% |
营业利润率ARXDCO
| Q4 25 | — | 6.5% | ||
| Q3 25 | -507.7% | -37.7% | ||
| Q2 25 | 10.2% | 8.5% | ||
| Q1 25 | — | 8.5% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | — | 7.6% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 6.6% |
净利率ARXDCO
| Q4 25 | — | 3.4% | ||
| Q3 25 | -511.9% | -30.3% | ||
| Q2 25 | 4.0% | 6.2% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 5.0% | ||
| Q2 24 | — | 3.9% | ||
| Q1 24 | — | 3.6% |
每股收益（稀释后）ARXDCO
| Q4 25 | — | $0.52 | ||
| Q3 25 | $-6.99 | $-4.30 | ||
| Q2 25 | $0.04 | $0.82 | ||
| Q1 25 | — | $0.69 | ||
| Q4 24 | — | $0.45 | ||
| Q3 24 | — | $0.67 | ||
| Q2 24 | — | $0.52 | ||
| Q1 24 | — | $0.46 |
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 | $1.6B | $45.3M |
| 总债务越低越好 | $121.9M | $298.8M |
| 股东权益账面价值 | $676.1M | $662.1M |
| 总资产 | $7.9B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.18× | 0.45× |
8季度趋势，按日历期对齐
现金及短期投资ARXDCO
| Q4 25 | — | $45.3M | ||
| Q3 25 | $1.6B | $50.9M | ||
| Q2 25 | $1.4B | $37.1M | ||
| Q1 25 | — | $30.7M | ||
| Q4 24 | — | $37.1M | ||
| Q3 24 | — | $37.3M | ||
| Q2 24 | — | $29.4M | ||
| Q1 24 | — | $32.1M |
总债务ARXDCO
| Q4 25 | — | $298.8M | ||
| Q3 25 | $121.9M | $215.0M | ||
| Q2 25 | $126.7M | $218.1M | ||
| Q1 25 | — | $229.9M | ||
| Q4 24 | — | $229.8M | ||
| Q3 24 | — | $246.0M | ||
| Q2 24 | — | $250.9M | ||
| Q1 24 | — | $253.9M |
股东权益ARXDCO
| Q4 25 | — | $662.1M | ||
| Q3 25 | $676.1M | $649.0M | ||
| Q2 25 | $346.2M | $707.8M | ||
| Q1 25 | — | $693.0M | ||
| Q4 24 | — | $682.5M | ||
| Q3 24 | — | $665.6M | ||
| Q2 24 | — | $655.9M | ||
| Q1 24 | — | $645.5M |
总资产ARXDCO
| Q4 25 | — | $1.2B | ||
| Q3 25 | $7.9B | $1.2B | ||
| Q2 25 | $7.5B | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
负债/权益比ARXDCO
| Q4 25 | — | 0.45× | ||
| Q3 25 | 0.18× | 0.33× | ||
| Q2 25 | 0.37× | 0.31× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | — | 0.39× |
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 | $73.9M | $-74.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-78.8M |
| 自由现金流率自由现金流/营收 | — | -36.5% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | — | -10.03× |
| 过去12个月自由现金流最近4个季度 | — | $-48.6M |
8季度趋势，按日历期对齐
经营现金流ARXDCO
| Q4 25 | — | $-74.7M | ||
| Q3 25 | $73.9M | $18.1M | ||
| Q2 25 | $309.3M | $22.4M | ||
| Q1 25 | — | $771.0K | ||
| Q4 24 | — | $18.4M | ||
| Q3 24 | — | $13.9M | ||
| Q2 24 | — | $3.5M | ||
| Q1 24 | — | $-1.6M |
自由现金流ARXDCO
| Q4 25 | — | $-78.8M | ||
| Q3 25 | — | $16.0M | ||
| Q2 25 | — | $18.1M | ||
| Q1 25 | — | $-4.0M | ||
| Q4 24 | — | $14.6M | ||
| Q3 24 | — | $12.0M | ||
| Q2 24 | — | $144.0K | ||
| Q1 24 | — | $-6.6M |
自由现金流率ARXDCO
| Q4 25 | — | -36.5% | ||
| Q3 25 | — | 7.5% | ||
| Q2 25 | — | 9.0% | ||
| Q1 25 | — | -2.1% | ||
| Q4 24 | — | 7.4% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | -3.5% |
资本支出强度ARXDCO
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 2.0% | ||
| Q3 24 | — | 1.0% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.6% |
现金转化率ARXDCO
| Q4 25 | — | -10.03× | ||
| Q3 25 | — | — | ||
| Q2 25 | 35.15× | 1.79× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | 2.72× | ||
| Q3 24 | — | 1.37× | ||
| Q2 24 | — | 0.45× | ||
| Q1 24 | — | -0.24× |
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
ARX
| Underwriting Segment | $117.6M | 44% |
| Exchange Services Segment | $85.0M | 32% |
| Other | $64.8M | 24% |
DCO
| Other | $90.1M | 42% |
| Militaryand Space | $60.0M | 28% |
| Electronic Systems Segment | $31.3M | 15% |
| Commercial Aerospace | $24.8M | 11% |
| Estimate At Completion Adjustment | $6.6M | 3% |
| Industrial | $3.0M | 1% |
