vs
ATI INC（ATI）与布鲁克菲尔德资产管理（BAM）财务数据对比。点击上方公司名可切换其他公司
ATI INC的季度营收约是布鲁克菲尔德资产管理的1.1倍（$1.2B vs $1.1B），布鲁克菲尔德资产管理净利率更高（56.7% vs 8.2%，领先48.5%）
ATI是加拿大半导体科技企业，总部位于安大略省万锦市，专注于图形处理器（GPU）及芯片组研发。公司成立于1985年，1993年公开上市，2006年被AMD收购。作为无晶圆厂半导体巨头，ATI坚持自主研发，生产组装环节外包，2000年竞争对手3dfx破产后，成为全球图形芯片领域的核心厂商之一。
布鲁克菲尔德资产管理有限公司是加美两地的另类资产管理机构，2022年12月从布鲁克菲尔德集团的资管业务分拆成立，在全球范围内管理不动产、基础设施、可再生能源、私募股权及信贷市场等领域的投资。
ATI vs BAM — 直观对比
营收规模更大
ATI
是对方的1.1倍
$1.1B
净利率更高
BAM
高出48.5%
8.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.1B |
| 净利润 | $96.6M | $615.0M |
| 毛利率 | 23.2% | — |
| 营业利润率 | 14.5% | 84.2% |
| 净利率 | 8.2% | 56.7% |
| 营收同比 | 0.4% | — |
| 净利润同比 | -29.5% | — |
| 每股收益（稀释后） | $0.70 | — |
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ATIBAM
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $1.1B | $974.0M | ||
| Q2 25 | $1.1B | $931.0M | ||
| Q1 25 | $1.1B | $954.0M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | $873.0M | ||
| Q2 24 | $1.1B | $821.0M | ||
| Q1 24 | $1.0B | $786.0M |
净利润ATIBAM
| Q4 25 | $96.6M | $615.0M | ||
| Q3 25 | $110.0M | $692.0M | ||
| Q2 25 | $100.7M | $584.0M | ||
| Q1 25 | $97.0M | $507.0M | ||
| Q4 24 | $137.1M | — | ||
| Q3 24 | $82.7M | $537.0M | ||
| Q2 24 | $81.9M | $124.0M | ||
| Q1 24 | $66.1M | $373.0M |
毛利率ATIBAM
| Q4 25 | 23.2% | — | ||
| Q3 25 | 22.7% | — | ||
| Q2 25 | 21.3% | — | ||
| Q1 25 | 20.6% | — | ||
| Q4 24 | 21.2% | — | ||
| Q3 24 | 21.4% | — | ||
| Q2 24 | 20.8% | — | ||
| Q1 24 | 18.9% | — |
营业利润率ATIBAM
| Q4 25 | 14.5% | 84.2% | ||
| Q3 25 | 14.4% | 79.1% | ||
| Q2 25 | 14.1% | 70.8% | ||
| Q1 25 | 12.8% | 61.0% | ||
| Q4 24 | 17.8% | — | ||
| Q3 24 | 13.5% | 72.5% | ||
| Q2 24 | 13.0% | 80.4% | ||
| Q1 24 | 11.0% | 56.5% |
净利率ATIBAM
| Q4 25 | 8.2% | 56.7% | ||
| Q3 25 | 9.8% | 71.0% | ||
| Q2 25 | 8.8% | 62.7% | ||
| Q1 25 | 8.5% | 53.1% | ||
| Q4 24 | 11.7% | — | ||
| Q3 24 | 7.9% | 61.5% | ||
| Q2 24 | 7.5% | 15.1% | ||
| Q1 24 | 6.3% | 47.5% |
每股收益（稀释后）ATIBAM
| Q4 25 | $0.70 | — | ||
| Q3 25 | $0.78 | — | ||
| Q2 25 | $0.70 | — | ||
| Q1 25 | $0.67 | — | ||
| Q4 24 | $0.94 | — | ||
| Q3 24 | $0.57 | — | ||
| Q2 24 | $0.58 | — | ||
| 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 | $416.7M | $1.6B |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $1.8B | $8.9B |
| 总资产 | $5.1B | $17.0B |
| 负债/权益比越低杠杆越低 | 0.95× | — |
8季度趋势，按日历期对齐
现金及短期投资ATIBAM
| Q4 25 | $416.7M | $1.6B | ||
| Q3 25 | $372.2M | $1.1B | ||
| Q2 25 | $319.6M | $480.0M | ||
| Q1 25 | $475.8M | $332.0M | ||
| Q4 24 | $721.2M | — | ||
| Q3 24 | $406.6M | — | ||
| Q2 24 | $425.6M | $10.0M | ||
| Q1 24 | $394.4M | — |
总债务ATIBAM
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $2.1B | — |
股东权益ATIBAM
| Q4 25 | $1.8B | $8.9B | ||
| Q3 25 | $1.7B | $8.5B | ||
| Q2 25 | $1.7B | $8.5B | ||
| Q1 25 | $1.9B | $8.5B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.8B | $9.0B | ||
| Q2 24 | $1.4B | $3.2B | ||
| Q1 24 | $1.3B | $2.2B |
总资产ATIBAM
| Q4 25 | $5.1B | $17.0B | ||
| Q3 25 | $5.0B | $16.5B | ||
| Q2 25 | $5.0B | $16.1B | ||
| Q1 25 | $5.2B | $15.0B | ||
| Q4 24 | $5.2B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $4.9B | $4.2B | ||
| Q1 24 | $4.8B | — |
负债/权益比ATIBAM
| Q4 25 | 0.95× | — | ||
| Q3 25 | 1.00× | — | ||
| Q2 25 | 0.98× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 0.93× | — | ||
| Q3 24 | 1.04× | — | ||
| Q2 24 | 1.37× | — | ||
| Q1 24 | 1.70× | — |
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 | $315.8M | $562.0M |
| 自由现金流经营现金流 - 资本支出 | $223.1M | — |
| 自由现金流率自由现金流/营收 | 19.0% | — |
| 资本支出强度资本支出/营收 | 7.9% | — |
| 现金转化率经营现金流/净利润 | 3.27× | 0.91× |
| 过去12个月自由现金流最近4个季度 | $333.7M | — |
8季度趋势，按日历期对齐
经营现金流ATIBAM
| Q4 25 | $315.8M | $562.0M | ||
| Q3 25 | $229.5M | $745.0M | ||
| Q2 25 | $161.5M | $529.0M | ||
| Q1 25 | $-92.5M | $265.0M | ||
| Q4 24 | $380.9M | — | ||
| Q3 24 | $24.0M | $567.0M | ||
| Q2 24 | $101.1M | $159.0M | ||
| Q1 24 | $-98.8M | $516.0M |
自由现金流ATIBAM
| Q4 25 | $223.1M | — | ||
| Q3 25 | $167.0M | — | ||
| Q2 25 | $89.4M | — | ||
| Q1 25 | $-145.8M | — | ||
| Q4 24 | $333.6M | — | ||
| Q3 24 | $-41.8M | — | ||
| Q2 24 | $40.9M | — | ||
| Q1 24 | $-164.6M | — |
自由现金流率ATIBAM
| Q4 25 | 19.0% | — | ||
| Q3 25 | 14.8% | — | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | -12.7% | — | ||
| Q4 24 | 28.4% | — | ||
| Q3 24 | -4.0% | — | ||
| Q2 24 | 3.7% | — | ||
| Q1 24 | -15.8% | — |
资本支出强度ATIBAM
| Q4 25 | 7.9% | — | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 6.3% | — | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 6.3% | — | ||
| Q2 24 | 5.5% | — | ||
| Q1 24 | 6.3% | — |
现金转化率ATIBAM
| Q4 25 | 3.27× | 0.91× | ||
| Q3 25 | 2.09× | 1.08× | ||
| Q2 25 | 1.60× | 0.91× | ||
| Q1 25 | -0.95× | 0.52× | ||
| Q4 24 | 2.78× | — | ||
| Q3 24 | 0.29× | 1.06× | ||
| Q2 24 | 1.23× | 1.28× | ||
| Q1 24 | -1.49× | 1.38× |
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
ATI
| Other | $527.1M | 45% |
| Advanced Alloys Solutions | $333.5M | 28% |
| Airframes Commercial | $82.0M | 7% |
| Defense | $73.7M | 6% |
| Electronics Market | $53.1M | 5% |
| Internal Customers | $50.9M | 4% |
| Specialty Energy | $29.3M | 2% |
| Medical Market | $12.2M | 1% |
| Construction Mining Market | $7.2M | 1% |
| Other Market | $5.6M | 0% |
| Conventional Energy | $1.9M | 0% |
| Automotive Market | $600.0K | 0% |
BAM
| Incentive Fees | $452.0M | 42% |
| Infrastruture | $332.0M | 31% |
| Private Equity | $174.0M | 16% |
| Renewable Power And Transition | $66.0M | 6% |
| Other | $47.0M | 4% |
| Management And Advisory Fees | $14.0M | 1% |
