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亚什兰（ASH）与PTC Inc.（PTC）财务数据对比。点击上方公司名可切换其他公司
PTC Inc.的季度营收约是亚什兰的1.8倍（$685.8M vs $386.0M），PTC Inc.净利率更高（24.3% vs -3.1%，领先27.4%），PTC Inc.同比增速更快（21.4% vs -4.7%），PTC Inc.自由现金流更多（$267.4M vs $111.0M），过去两年PTC Inc.的营收复合增速更高（6.6% vs -18.1%）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
ASH vs PTC — 直观对比
营收规模更大
PTC
是对方的1.8倍
$386.0M
营收增速更快
PTC
高出26.0%
-4.7%
净利率更高
PTC
高出27.4%
-3.1%
自由现金流更多
PTC
多$156.4M
$111.0M
两年增速更快
PTC
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $685.8M |
| 净利润 | $-12.0M | $166.5M |
| 毛利率 | 27.2% | 82.8% |
| 营业利润率 | -1.6% | 32.2% |
| 净利率 | -3.1% | 24.3% |
| 营收同比 | -4.7% | 21.4% |
| 净利润同比 | 92.7% | 102.5% |
| 每股收益（稀释后） | $-0.26 | $1.39 |
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ASHPTC
| Q4 25 | $386.0M | $685.8M | ||
| Q3 25 | $477.0M | $893.8M | ||
| Q2 25 | $463.0M | $643.9M | ||
| Q1 25 | $479.0M | $636.4M | ||
| Q4 24 | $405.0M | $565.1M | ||
| Q3 24 | $521.0M | $626.5M | ||
| Q2 24 | $544.0M | $518.6M | ||
| Q1 24 | $575.0M | $603.1M |
净利润ASHPTC
| Q4 25 | $-12.0M | $166.5M | ||
| Q3 25 | $31.0M | $347.8M | ||
| Q2 25 | $-742.0M | $141.3M | ||
| Q1 25 | $31.0M | $162.6M | ||
| Q4 24 | $-165.0M | $82.2M | ||
| Q3 24 | $17.0M | $126.5M | ||
| Q2 24 | $6.0M | $69.0M | ||
| Q1 24 | $120.0M | $114.4M |
毛利率ASHPTC
| Q4 25 | 27.2% | 82.8% | ||
| Q3 25 | 33.3% | 86.9% | ||
| Q2 25 | 28.5% | 82.9% | ||
| Q1 25 | 30.7% | 83.3% | ||
| Q4 24 | 27.4% | 80.2% | ||
| Q3 24 | 33.2% | 82.0% | ||
| Q2 24 | 34.2% | 78.4% | ||
| Q1 24 | 28.0% | 81.8% |
营业利润率ASHPTC
| Q4 25 | -1.6% | 32.2% | ||
| Q3 25 | 12.8% | 48.5% | ||
| Q2 25 | -152.9% | 32.6% | ||
| Q1 25 | 10.6% | 35.1% | ||
| Q4 24 | -44.2% | 20.4% | ||
| Q3 24 | 6.1% | 31.0% | ||
| Q2 24 | -11.2% | 18.5% | ||
| Q1 24 | 3.7% | 29.8% |
净利率ASHPTC
| Q4 25 | -3.1% | 24.3% | ||
| Q3 25 | 6.5% | 38.9% | ||
| Q2 25 | -160.3% | 21.9% | ||
| Q1 25 | 6.5% | 25.6% | ||
| Q4 24 | -40.7% | 14.6% | ||
| Q3 24 | 3.3% | 20.2% | ||
| Q2 24 | 1.1% | 13.3% | ||
| Q1 24 | 20.9% | 19.0% |
每股收益（稀释后）ASHPTC
| Q4 25 | $-0.26 | $1.39 | ||
| Q3 25 | $0.83 | $2.88 | ||
| Q2 25 | $-16.21 | $1.17 | ||
| Q1 25 | $0.65 | $1.35 | ||
| Q4 24 | $-3.50 | $0.68 | ||
| Q3 24 | $0.34 | $1.05 | ||
| Q2 24 | $0.12 | $0.57 | ||
| Q1 24 | $2.39 | $0.95 |
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 | $304.0M | $209.7M |
| 总债务越低越好 | $1.4B | $1.2B |
| 股东权益账面价值 | $1.9B | $3.8B |
| 总资产 | $4.5B | $6.4B |
| 负债/权益比越低杠杆越低 | 0.74× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资ASHPTC
| Q4 25 | $304.0M | $209.7M | ||
| Q3 25 | $215.0M | $184.4M | ||
| Q2 25 | $207.0M | $199.3M | ||
| Q1 25 | $168.0M | $235.2M | ||
| Q4 24 | $219.0M | $196.3M | ||
| Q3 24 | $300.0M | $265.8M | ||
| Q2 24 | $399.0M | $247.7M | ||
| Q1 24 | $439.0M | $249.0M |
总债务ASHPTC
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | $1.3B | $1.0B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.3B | ||
| Q1 24 | $1.3B | $1.5B |
股东权益ASHPTC
| Q4 25 | $1.9B | $3.8B | ||
| Q3 25 | $1.9B | $3.8B | ||
| Q2 25 | $1.9B | $3.5B | ||
| Q1 25 | $2.6B | $3.4B | ||
| Q4 24 | $2.6B | $3.2B | ||
| Q3 24 | $2.9B | $3.2B | ||
| Q2 24 | $3.0B | $3.0B | ||
| Q1 24 | $3.1B | $2.9B |
总资产ASHPTC
| Q4 25 | $4.5B | $6.4B | ||
| Q3 25 | $4.6B | $6.6B | ||
| Q2 25 | $4.6B | $6.2B | ||
| Q1 25 | $5.2B | $6.2B | ||
| Q4 24 | $5.2B | $6.1B | ||
| Q3 24 | $5.6B | $6.4B | ||
| Q2 24 | $5.7B | $6.1B | ||
| Q1 24 | $5.9B | $6.2B |
负债/权益比ASHPTC
| Q4 25 | 0.74× | 0.31× | ||
| Q3 25 | 0.73× | 0.31× | ||
| Q2 25 | 0.73× | 0.34× | ||
| Q1 25 | 0.52× | 0.40× | ||
| Q4 24 | 0.51× | 0.32× | ||
| Q3 24 | 0.47× | 0.38× | ||
| Q2 24 | 0.45× | 0.43× | ||
| Q1 24 | 0.42× | 0.51× |
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 | $125.0M | $269.7M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $267.4M |
| 自由现金流率自由现金流/营收 | 28.8% | 39.0% |
| 资本支出强度资本支出/营收 | 3.6% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | $200.0M | $888.4M |
8季度趋势，按日历期对齐
经营现金流ASHPTC
| Q4 25 | $125.0M | $269.7M | ||
| Q3 25 | $40.0M | $104.0M | ||
| Q2 25 | $115.0M | $243.9M | ||
| Q1 25 | $9.0M | $281.3M | ||
| Q4 24 | $-30.0M | $238.4M | ||
| Q3 24 | $80.0M | $98.1M | ||
| Q2 24 | $127.0M | $213.8M | ||
| Q1 24 | $54.0M | $250.7M |
自由现金流ASHPTC
| Q4 25 | $111.0M | $267.4M | ||
| Q3 25 | $6.0M | $100.5M | ||
| Q2 25 | $95.0M | $242.0M | ||
| Q1 25 | $-12.0M | $278.5M | ||
| Q4 24 | $-53.0M | $235.7M | ||
| Q3 24 | $42.0M | $93.6M | ||
| Q2 24 | $98.0M | $212.2M | ||
| Q1 24 | $20.0M | $247.1M |
自由现金流率ASHPTC
| Q4 25 | 28.8% | 39.0% | ||
| Q3 25 | 1.3% | 11.2% | ||
| Q2 25 | 20.5% | 37.6% | ||
| Q1 25 | -2.5% | 43.8% | ||
| Q4 24 | -13.1% | 41.7% | ||
| Q3 24 | 8.1% | 14.9% | ||
| Q2 24 | 18.0% | 40.9% | ||
| Q1 24 | 3.5% | 41.0% |
资本支出强度ASHPTC
| Q4 25 | 3.6% | 0.3% | ||
| Q3 25 | 7.1% | 0.4% | ||
| Q2 25 | 4.3% | 0.3% | ||
| Q1 25 | 4.4% | 0.4% | ||
| Q4 24 | 5.7% | 0.5% | ||
| Q3 24 | 7.3% | 0.7% | ||
| Q2 24 | 5.3% | 0.3% | ||
| Q1 24 | 5.9% | 0.6% |
现金转化率ASHPTC
| Q4 25 | — | 1.62× | ||
| Q3 25 | 1.29× | 0.30× | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | 0.29× | 1.73× | ||
| Q4 24 | — | 2.90× | ||
| Q3 24 | 4.71× | 0.78× | ||
| Q2 24 | 21.17× | 3.10× | ||
| Q1 24 | 0.45× | 2.19× |
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
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
