vs
Ardmore Shipping Corp（ASC）与微策略（MSTR）财务数据对比。点击上方公司名可切换其他公司
微策略的季度营收约是Ardmore Shipping Corp的1.5倍（$123.0M vs $81.2M），微策略同比增速更快（1.9% vs -15.5%），过去两年微策略的营收复合增速更高（3.3% vs -6.0%）
阿德莫尔航运是一家全球化海上运输企业，持有并运营中型成品油轮与化学品运输船队，可为全球能源、化工及贸易领域客户提供石油产品、特种化学品及其他散装液态货物的海运服务。
Strategy Inc（原名为微策略）是1989年成立的美国上市企业，主营商业智能与移动软件业务，旗下产品可帮助企业分析内外部数据以支撑经营决策，还可用于移动应用开发，总部位于弗吉尼亚州泰森斯角，商业分析赛道核心竞品包括SAP等。
ASC vs MSTR — 直观对比
营收规模更大
MSTR
是对方的1.5倍
$81.2M
营收增速更快
MSTR
高出17.4%
-15.5%
两年增速更快
MSTR
近两年复合增速
-6.0%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $81.2M | $123.0M |
| 净利润 | $12.8M | — |
| 毛利率 | — | 66.1% |
| 营业利润率 | 16.1% | — |
| 净利率 | 15.7% | — |
| 营收同比 | -15.5% | 1.9% |
| 净利润同比 | -47.0% | — |
| 每股收益（稀释后） | $0.30 | — |
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ASCMSTR
| Q4 25 | — | $123.0M | ||
| Q3 25 | $81.2M | $128.7M | ||
| Q2 25 | $72.0M | $114.5M | ||
| Q1 25 | $74.0M | $111.1M | ||
| Q4 24 | — | $120.7M | ||
| Q3 24 | $96.1M | $116.1M | ||
| Q2 24 | $121.3M | $111.4M | ||
| Q1 24 | $106.3M | $115.2M |
净利润ASCMSTR
| Q4 25 | — | — | ||
| Q3 25 | $12.8M | $2.8B | ||
| Q2 25 | $9.6M | $10.0B | ||
| Q1 25 | $6.3M | $-4.2B | ||
| Q4 24 | — | $-670.8M | ||
| Q3 24 | $24.1M | $-340.2M | ||
| Q2 24 | $62.7M | $-102.6M | ||
| Q1 24 | $39.2M | $-53.1M |
毛利率ASCMSTR
| Q4 25 | — | 66.1% | ||
| Q3 25 | — | 70.5% | ||
| Q2 25 | — | 68.8% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 71.7% | ||
| Q3 24 | — | 70.4% | ||
| Q2 24 | — | 72.2% | ||
| Q1 24 | — | 74.0% |
营业利润率ASCMSTR
| Q4 25 | — | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 13.5% | — | ||
| Q1 25 | 8.6% | -5331.4% | ||
| Q4 24 | — | -842.1% | ||
| Q3 24 | 25.4% | -372.7% | ||
| Q2 24 | 51.3% | -179.7% | ||
| Q1 24 | 37.2% | -176.8% |
净利率ASCMSTR
| Q4 25 | — | — | ||
| Q3 25 | 15.7% | 2164.1% | ||
| Q2 25 | 13.3% | 8752.7% | ||
| Q1 25 | 8.5% | -3797.2% | ||
| Q4 24 | — | -555.8% | ||
| Q3 24 | 25.1% | -293.1% | ||
| Q2 24 | 51.7% | -92.0% | ||
| Q1 24 | 36.9% | -46.1% |
每股收益（稀释后）ASCMSTR
| Q4 25 | — | — | ||
| Q3 25 | $0.30 | $8.42 | ||
| Q2 25 | $0.22 | $32.60 | ||
| Q1 25 | $0.14 | $-16.49 | ||
| Q4 24 | — | $4.49 | ||
| Q3 24 | $0.55 | $-1.72 | ||
| Q2 24 | $1.47 | $-0.57 | ||
| Q1 24 | $0.92 | $-0.31 |
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 | — | $2.3B |
| 总债务越低越好 | $116.1M | $8.2B |
| 股东权益账面价值 | $628.2M | $44.1B |
| 总资产 | $799.8M | $61.6B |
| 负债/权益比越低杠杆越低 | 0.18× | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资ASCMSTR
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $54.3M | ||
| Q2 25 | — | $50.1M | ||
| Q1 25 | — | $60.3M | ||
| Q4 24 | — | $38.1M | ||
| Q3 24 | — | $46.3M | ||
| Q2 24 | — | $66.9M | ||
| Q1 24 | — | $81.3M |
总债务ASCMSTR
| Q4 25 | — | $8.2B | ||
| Q3 25 | $116.1M | $8.2B | ||
| Q2 25 | $25.0M | $8.2B | ||
| Q1 25 | $20.5M | $8.1B | ||
| Q4 24 | — | $7.2B | ||
| Q3 24 | $22.5M | $4.2B | ||
| Q2 24 | $44.2M | $3.8B | ||
| Q1 24 | $23.1M | $3.6B |
股东权益ASCMSTR
| Q4 25 | — | $44.1B | ||
| Q3 25 | $628.2M | $52.3B | ||
| Q2 25 | $618.3M | $47.5B | ||
| Q1 25 | $610.7M | $32.2B | ||
| Q4 24 | — | $18.2B | ||
| Q3 24 | $627.0M | $3.8B | ||
| Q2 24 | $617.7M | $2.8B | ||
| Q1 24 | $567.9M | $2.4B |
总资产ASCMSTR
| Q4 25 | — | $61.6B | ||
| Q3 25 | $799.8M | $73.6B | ||
| Q2 25 | $703.8M | $64.8B | ||
| Q1 25 | $690.4M | $43.9B | ||
| Q4 24 | — | $25.8B | ||
| Q3 24 | $722.8M | $8.3B | ||
| Q2 24 | $742.0M | $7.1B | ||
| Q1 24 | $704.1M | $6.4B |
负债/权益比ASCMSTR
| Q4 25 | — | 0.19× | ||
| Q3 25 | 0.18× | 0.16× | ||
| Q2 25 | 0.04× | 0.17× | ||
| Q1 25 | 0.03× | 0.25× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | 0.04× | 1.12× | ||
| Q2 24 | 0.07× | 1.36× | ||
| Q1 24 | 0.04× | 1.48× |
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 | $17.9M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.40× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ASCMSTR
| Q4 25 | — | — | ||
| Q3 25 | $17.9M | $-8.3M | ||
| Q2 25 | $11.2M | $-34.9M | ||
| Q1 25 | $26.3M | $-2.4M | ||
| Q4 24 | — | $-17.3M | ||
| Q3 24 | $39.9M | $-41.0M | ||
| Q2 24 | $48.4M | $-23.3M | ||
| Q1 24 | $49.2M | $28.6M |
自由现金流ASCMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | $-11.1M | ||
| Q2 25 | — | $-37.0M | ||
| Q1 25 | — | $-5.1M | ||
| Q4 24 | — | $-17.6M | ||
| Q3 24 | — | $-41.4M | ||
| Q2 24 | — | $-24.1M | ||
| Q1 24 | — | $27.0M |
自由现金流率ASCMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | -8.6% | ||
| Q2 25 | — | -32.3% | ||
| Q1 25 | — | -4.6% | ||
| Q4 24 | — | -14.6% | ||
| Q3 24 | — | -35.7% | ||
| Q2 24 | — | -21.6% | ||
| Q1 24 | — | 23.5% |
资本支出强度ASCMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 1.3% |
现金转化率ASCMSTR
| Q4 25 | — | — | ||
| Q3 25 | 1.40× | -0.00× | ||
| Q2 25 | 1.17× | -0.00× | ||
| Q1 25 | 4.20× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 0.77× | — | ||
| Q1 24 | 1.25× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
