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ASPEN AEROGELS INC（ASPN）与Star Holdings（STHO）财务数据对比。点击上方公司名可切换其他公司
ASPEN AEROGELS INC的季度营收约是Star Holdings的1.6倍（$41.3M vs $25.4M），Star Holdings净利率更高（-75.5% vs -176.4%，领先100.9%），Star Holdings同比增速更快（-22.6% vs -66.4%），过去两年Star Holdings的营收复合增速更高（-0.2% vs -33.9%）
Aspen Aerogels Inc是全球领先的气凝胶基高性能隔热及热管理材料生产商，产品广泛应用于可再生能源、油气基础设施、航空航天、商业建筑与工业制造领域，核心市场覆盖北美、欧洲及亚太地区，旗下材料以优异的耐热性、防火性能和轻量化特性广受客户认可。
蓝星有限公司是一家印度跨国家电企业，总部位于孟买，主营空调、商用制冷以及机电工程业务，是印度本土市场规模第二大的空调领域本土企业。
ASPN vs STHO — 直观对比
营收规模更大
ASPN
是对方的1.6倍
$25.4M
营收增速更快
STHO
高出43.8%
-66.4%
净利率更高
STHO
高出100.9%
-176.4%
两年增速更快
STHO
近两年复合增速
-33.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $41.3M | $25.4M |
| 净利润 | $-72.9M | $-19.1M |
| 毛利率 | -55.5% | — |
| 营业利润率 | -170.3% | -91.7% |
| 净利率 | -176.4% | -75.5% |
| 营收同比 | -66.4% | -22.6% |
| 净利润同比 | -741.7% | 81.3% |
| 每股收益（稀释后） | $-0.87 | $-1.52 |
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ASPNSTHO
| Q4 25 | $41.3M | $25.4M | ||
| Q3 25 | $73.0M | $28.1M | ||
| Q2 25 | $78.0M | $42.1M | ||
| Q1 25 | $78.7M | $14.6M | ||
| Q4 24 | $123.1M | $32.8M | ||
| Q3 24 | $117.3M | $24.6M | ||
| Q2 24 | $117.8M | $30.6M | ||
| Q1 24 | $94.5M | $25.4M |
净利润ASPNSTHO
| Q4 25 | $-72.9M | $-19.1M | ||
| Q3 25 | $-6.3M | $1.8M | ||
| Q2 25 | $-9.1M | $-39.3M | ||
| Q1 25 | $-301.2M | $-7.6M | ||
| Q4 24 | $11.4M | $-102.6M | ||
| Q3 24 | $-13.0M | $91.9M | ||
| Q2 24 | $16.8M | $-27.1M | ||
| Q1 24 | $-1.8M | $-49.0M |
毛利率ASPNSTHO
| Q4 25 | -55.5% | — | ||
| Q3 25 | 28.5% | — | ||
| Q2 25 | 32.4% | — | ||
| Q1 25 | 29.0% | — | ||
| Q4 24 | 38.3% | — | ||
| Q3 24 | 41.8% | — | ||
| Q2 24 | 43.8% | — | ||
| Q1 24 | 37.2% | — |
营业利润率ASPNSTHO
| Q4 25 | -170.3% | -91.7% | ||
| Q3 25 | -4.6% | 1.0% | ||
| Q2 25 | -6.6% | -94.5% | ||
| Q1 25 | -380.2% | -55.0% | ||
| Q4 24 | 12.0% | -314.1% | ||
| Q3 24 | 14.8% | — | ||
| Q2 24 | 17.0% | -91.5% | ||
| Q1 24 | 2.6% | -192.6% |
净利率ASPNSTHO
| Q4 25 | -176.4% | -75.5% | ||
| Q3 25 | -8.7% | 6.4% | ||
| Q2 25 | -11.6% | -93.5% | ||
| Q1 25 | -382.7% | -52.0% | ||
| Q4 24 | 9.2% | -313.1% | ||
| Q3 24 | -11.1% | 374.3% | ||
| Q2 24 | 14.3% | -88.8% | ||
| Q1 24 | -1.9% | -192.6% |
每股收益（稀释后）ASPNSTHO
| Q4 25 | $-0.87 | $-1.52 | ||
| Q3 25 | $-0.08 | $0.14 | ||
| Q2 25 | $-0.11 | $-2.95 | ||
| Q1 25 | $-3.67 | $-0.57 | ||
| Q4 24 | $0.15 | $-7.69 | ||
| Q3 24 | $-0.17 | $6.90 | ||
| Q2 24 | $0.21 | $-2.04 | ||
| Q1 24 | $-0.02 | $-3.68 |
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 | $156.9M | $50.1M |
| 总债务越低越好 | $65.5M | $268.7M |
| 股东权益账面价值 | $235.5M | $251.8M |
| 总资产 | $406.7M | $570.2M |
| 负债/权益比越低杠杆越低 | 0.28× | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资ASPNSTHO
| Q4 25 | $156.9M | $50.1M | ||
| Q3 25 | $150.7M | $40.6M | ||
| Q2 25 | $167.6M | $44.2M | ||
| Q1 25 | $192.0M | $30.3M | ||
| Q4 24 | $220.9M | $35.0M | ||
| Q3 24 | $113.5M | $45.0M | ||
| Q2 24 | $91.4M | $48.3M | ||
| Q1 24 | $101.5M | $45.7M |
总债务ASPNSTHO
| Q4 25 | $65.5M | $268.7M | ||
| Q3 25 | $70.1M | $259.3M | ||
| Q2 25 | $77.3M | $245.4M | ||
| Q1 25 | $95.4M | $231.5M | ||
| Q4 24 | $95.0M | $217.3M | ||
| Q3 24 | $93.7M | $201.2M | ||
| Q2 24 | — | $197.2M | ||
| Q1 24 | — | $195.0M |
股东权益ASPNSTHO
| Q4 25 | $235.5M | $251.8M | ||
| Q3 25 | $305.7M | $275.4M | ||
| Q2 25 | $308.8M | $276.1M | ||
| Q1 25 | $314.8M | $316.1M | ||
| Q4 24 | $614.7M | $324.3M | ||
| Q3 24 | $507.6M | $427.5M | ||
| Q2 24 | $517.8M | $335.3M | ||
| Q1 24 | $491.2M | $362.4M |
总资产ASPNSTHO
| Q4 25 | $406.7M | $570.2M | ||
| Q3 25 | $491.4M | $595.9M | ||
| Q2 25 | $525.1M | $589.9M | ||
| Q1 25 | $555.0M | $618.2M | ||
| Q4 24 | $895.1M | $608.7M | ||
| Q3 24 | $782.6M | $696.5M | ||
| Q2 24 | $748.6M | $601.0M | ||
| Q1 24 | $698.0M | $622.9M |
负债/权益比ASPNSTHO
| Q4 25 | 0.28× | 1.07× | ||
| Q3 25 | 0.23× | 0.94× | ||
| Q2 25 | 0.25× | 0.89× | ||
| Q1 25 | 0.30× | 0.73× | ||
| Q4 24 | 0.15× | 0.67× | ||
| Q3 24 | 0.18× | 0.47× | ||
| Q2 24 | — | 0.59× | ||
| Q1 24 | — | 0.54× |
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 | $16.1M | $-11.7M |
| 自由现金流经营现金流 - 资本支出 | $13.7M | — |
| 自由现金流率自由现金流/营收 | 33.1% | — |
| 资本支出强度资本支出/营收 | 6.0% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-4.6M | — |
8季度趋势，按日历期对齐
经营现金流ASPNSTHO
| Q4 25 | $16.1M | $-11.7M | ||
| Q3 25 | $15.0M | $5.3M | ||
| Q2 25 | $-3.9M | $-2.6M | ||
| Q1 25 | $5.6M | $-6.3M | ||
| Q4 24 | $35.7M | $-31.3M | ||
| Q3 24 | $20.8M | $-3.8M | ||
| Q2 24 | $6.8M | $-6.4M | ||
| Q1 24 | $-17.7M | $-14.2M |
自由现金流ASPNSTHO
| Q4 25 | $13.7M | — | ||
| Q3 25 | $5.9M | — | ||
| Q2 25 | $-16.8M | — | ||
| Q1 25 | $-7.4M | — | ||
| Q4 24 | $20.9M | — | ||
| Q3 24 | $-50.0K | — | ||
| Q2 24 | $-18.0M | — | ||
| Q1 24 | $-43.6M | — |
自由现金流率ASPNSTHO
| Q4 25 | 33.1% | — | ||
| Q3 25 | 8.1% | — | ||
| Q2 25 | -21.6% | — | ||
| Q1 25 | -9.4% | — | ||
| Q4 24 | 17.0% | — | ||
| Q3 24 | -0.0% | — | ||
| Q2 24 | -15.3% | — | ||
| Q1 24 | -46.1% | — |
资本支出强度ASPNSTHO
| Q4 25 | 6.0% | — | ||
| Q3 25 | 12.5% | — | ||
| Q2 25 | 16.5% | — | ||
| Q1 25 | 16.5% | — | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | 17.7% | — | ||
| Q2 24 | 21.1% | — | ||
| Q1 24 | 27.4% | — |
现金转化率ASPNSTHO
| Q4 25 | — | — | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.14× | — | ||
| Q3 24 | — | -0.04× | ||
| Q2 24 | 0.41× | — | ||
| Q1 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
ASPN
| Energy Industrial | $14.5M | 35% |
| Other | $13.9M | 34% |
| Thermal Barrier | $12.9M | 31% |
STHO
| Land Development | $13.0M | 51% |
| Other Income Revenue | $9.3M | 37% |
| Operating Lease Income | $2.0M | 8% |
| Other | $1.2M | 5% |
