vs
AtlasClear Holdings, Inc.（ATCH）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AtlasClear Holdings, Inc.的25.4倍（$128.7M vs $5.1M）。微策略净利率更高（2164.1% vs 134.2%，领先2030.0%）。AtlasClear Holdings, Inc.同比增速更快（84.1% vs 10.9%）。过去两年AtlasClear Holdings, Inc.的营收复合增速更高（99.5% vs 1.7%）
阿特拉斯漫画是1950年代活跃的漫画出版品牌，由出版商人马丁·古德曼推出，是古德曼旗下漫画业务的统称，其前身是古德曼1940年代创立的及时漫画，最终发展为知名的漫威漫画，办公地点曾位于帝国大厦14层，需要注意区分于1970年代同名的另一家漫画公司。
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。
ATCH vs MSTR — 直观对比
营收规模更大
MSTR
是对方的25.4倍
$5.1M
营收增速更快
ATCH
高出73.3%
10.9%
净利率更高
MSTR
高出2030.0%
134.2%
两年增速更快
ATCH
近两年复合增速
1.7%
损益表 — Q2 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $5.1M | $128.7M |
| 净利润 | $6.8M | $2.8B |
| 毛利率 | — | 70.5% |
| 营业利润率 | -48.6% | — |
| 净利率 | 134.2% | 2164.1% |
| 营收同比 | 84.1% | 10.9% |
| 净利润同比 | 1716.5% | 918.7% |
| 每股收益（稀释后） | $0.05 | $8.42 |
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ATCHMSTR
| Q4 25 | $5.1M | — | ||
| Q3 25 | $4.3M | $128.7M | ||
| Q2 25 | $2.8M | $114.5M | ||
| Q1 25 | $2.5M | $111.1M | ||
| Q4 24 | $2.7M | $120.7M | ||
| Q3 24 | $2.8M | $116.1M | ||
| Q2 24 | — | $111.4M | ||
| Q1 24 | $1.3M | $115.2M |
净利润ATCHMSTR
| Q4 25 | $6.8M | — | ||
| Q3 25 | $-440.3K | $2.8B | ||
| Q2 25 | $-1.7M | $10.0B | ||
| Q1 25 | $-2.9M | $-4.2B | ||
| Q4 24 | $-419.7K | $-670.8M | ||
| Q3 24 | $10.7M | $-340.2M | ||
| Q2 24 | — | $-102.6M | ||
| Q1 24 | $-88.6M | $-53.1M |
毛利率ATCHMSTR
| Q4 25 | — | — | ||
| 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ATCHMSTR
| Q4 25 | -48.6% | — | ||
| Q3 25 | -20.6% | — | ||
| Q2 25 | -63.5% | — | ||
| Q1 25 | -42.2% | -5331.4% | ||
| Q4 24 | -41.8% | -842.1% | ||
| Q3 24 | -33.6% | -372.7% | ||
| Q2 24 | — | -179.7% | ||
| Q1 24 | -1091.5% | -176.8% |
净利率ATCHMSTR
| Q4 25 | 134.2% | — | ||
| Q3 25 | -10.4% | 2164.1% | ||
| Q2 25 | -60.6% | 8752.7% | ||
| Q1 25 | -114.1% | -3797.2% | ||
| Q4 24 | -15.3% | -555.8% | ||
| Q3 24 | 383.3% | -293.1% | ||
| Q2 24 | — | -92.0% | ||
| Q1 24 | -6970.8% | -46.1% |
每股收益（稀释后）ATCHMSTR
| Q4 25 | $0.05 | — | ||
| Q3 25 | $-0.01 | $8.42 | ||
| Q2 25 | — | $32.60 | ||
| Q1 25 | — | $-16.49 | ||
| Q4 24 | $-1.11 | $4.49 | ||
| Q3 24 | $-1.90 | $-1.72 | ||
| Q2 24 | — | $-5.74 | ||
| Q1 24 | — | $-3.09 |
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 | $23.1M | $54.3M |
| 总债务越低越好 | — | $8.2B |
| 股东权益账面价值 | $21.7M | $52.3B |
| 总资产 | $77.6M | $73.6B |
| 负债/权益比越低杠杆越低 | — | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资ATCHMSTR
| Q4 25 | $23.1M | — | ||
| Q3 25 | $2.7M | $54.3M | ||
| Q2 25 | $7.5M | $50.1M | ||
| Q1 25 | $7.8M | $60.3M | ||
| Q4 24 | $6.9M | $38.1M | ||
| Q3 24 | $6.8M | $46.3M | ||
| Q2 24 | — | $66.9M | ||
| Q1 24 | $7.2M | $81.3M |
总债务ATCHMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | $8.2B | ||
| Q2 25 | $980.1K | $8.2B | ||
| Q1 25 | — | $8.1B | ||
| Q4 24 | $8.1M | $7.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | — | $3.6B |
股东权益ATCHMSTR
| Q4 25 | $21.7M | — | ||
| Q3 25 | $6.9M | $52.3B | ||
| Q2 25 | $-6.8M | $47.5B | ||
| Q1 25 | $-14.0M | $32.2B | ||
| Q4 24 | $-23.2M | $18.2B | ||
| Q3 24 | $-23.2M | $3.8B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | $-6.8M | $2.4B |
总资产ATCHMSTR
| Q4 25 | $77.6M | — | ||
| Q3 25 | $73.6M | $73.6B | ||
| Q2 25 | $60.9M | $64.8B | ||
| Q1 25 | $55.0M | $43.9B | ||
| Q4 24 | $56.0M | $25.8B | ||
| Q3 24 | $56.0M | $8.3B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | $76.4M | $6.4B |
负债/权益比ATCHMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | — | 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 | $1.5M | $-8.3M |
| 自由现金流经营现金流 - 资本支出 | — | $-11.1M |
| 自由现金流率自由现金流/营收 | — | -8.6% |
| 资本支出强度资本支出/营收 | — | 2.2% |
| 现金转化率经营现金流/净利润 | 0.22× | -0.00× |
| 过去12个月自由现金流最近4个季度 | — | $-70.8M |
8季度趋势，按日历期对齐
经营现金流ATCHMSTR
| Q4 25 | $1.5M | — | ||
| Q3 25 | $-2.5M | $-8.3M | ||
| Q2 25 | $1.9M | $-34.9M | ||
| Q1 25 | $-1.8M | $-2.4M | ||
| Q4 24 | — | $-17.3M | ||
| Q3 24 | $175.6K | $-41.0M | ||
| Q2 24 | — | $-23.3M | ||
| Q1 24 | $-13.3M | $28.6M |
自由现金流ATCHMSTR
| 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ATCHMSTR
| 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ATCHMSTR
| 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ATCHMSTR
| Q4 25 | 0.22× | — | ||
| Q3 25 | — | -0.00× | ||
| Q2 25 | — | -0.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.02× | — | ||
| Q2 24 | — | — | ||
| 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
ATCH
暂无分部数据
MSTR
| Current Deferred Revenue And Advanced Payments | $52.2M | 41% |
| Subscription And Circulation | $46.0M | 36% |
| License | $17.4M | 13% |
| Technology Service | $14.2M | 11% |
