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ATI INC（ATI）与CrossAmerica Partners LP（CAPL）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CrossAmerica Partners LP的1.4倍（$1.2B vs $866.3M），ATI INC净利率更高（8.2% vs 1.2%，领先7.0%），ATI INC同比增速更快（0.4% vs -8.3%），ATI INC自由现金流更多（$223.1M vs $22.4M），过去两年ATI INC的营收复合增速更高（6.2% vs -4.1%）
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。
塔峰资本合伙人（TowerBrook Capital Partners）是一家总部位于伦敦和纽约的投资管理公司，2005年从索罗斯基金管理分拆独立。该机构主打私募股权及结构性机会投资，曾收购奢侈品品牌Jimmy Choo控股权，截至2025年其管理规模超250亿美元，官网公示在管投资项目共110个。
ATI vs CAPL — 直观对比
营收规模更大
ATI
是对方的1.4倍
$866.3M
营收增速更快
ATI
高出8.6%
-8.3%
净利率更高
ATI
高出7.0%
1.2%
自由现金流更多
ATI
多$200.7M
$22.4M
两年增速更快
ATI
近两年复合增速
-4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $866.3M |
| 净利润 | $96.6M | $10.2M |
| 毛利率 | 23.2% | 12.4% |
| 营业利润率 | 14.5% | 3.0% |
| 净利率 | 8.2% | 1.2% |
| 营收同比 | 0.4% | -8.3% |
| 净利润同比 | -29.5% | -39.6% |
| 每股收益（稀释后） | $0.70 | $0.24 |
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ATICAPL
| Q4 25 | $1.2B | $866.3M | ||
| Q3 25 | $1.1B | $971.8M | ||
| Q2 25 | $1.1B | $961.9M | ||
| Q1 25 | $1.1B | $862.5M | ||
| Q4 24 | $1.2B | $944.2M | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $1.0B | $941.5M |
净利润ATICAPL
| Q4 25 | $96.6M | $10.2M | ||
| Q3 25 | $110.0M | $13.6M | ||
| Q2 25 | $100.7M | $25.2M | ||
| Q1 25 | $97.0M | $-7.1M | ||
| Q4 24 | $137.1M | $16.9M | ||
| Q3 24 | $82.7M | $10.7M | ||
| Q2 24 | $81.9M | $12.4M | ||
| Q1 24 | $66.1M | $-17.5M |
毛利率ATICAPL
| Q4 25 | 23.2% | 12.4% | ||
| Q3 25 | 22.7% | 10.8% | ||
| Q2 25 | 21.3% | 10.5% | ||
| Q1 25 | 20.6% | 10.4% | ||
| Q4 24 | 21.2% | 10.7% | ||
| Q3 24 | 21.4% | 10.3% | ||
| Q2 24 | 20.8% | 9.2% | ||
| Q1 24 | 18.9% | 8.6% |
营业利润率ATICAPL
| Q4 25 | 14.5% | 3.0% | ||
| Q3 25 | 14.4% | 2.9% | ||
| Q2 25 | 14.1% | 4.3% | ||
| Q1 25 | 12.8% | 0.2% | ||
| Q4 24 | 17.8% | 3.0% | ||
| Q3 24 | 13.5% | 2.5% | ||
| Q2 24 | 13.0% | 2.5% | ||
| Q1 24 | 11.0% | -1.4% |
净利率ATICAPL
| Q4 25 | 8.2% | 1.2% | ||
| Q3 25 | 9.8% | 1.4% | ||
| Q2 25 | 8.8% | 2.6% | ||
| Q1 25 | 8.5% | -0.8% | ||
| Q4 24 | 11.7% | 1.8% | ||
| Q3 24 | 7.9% | 1.0% | ||
| Q2 24 | 7.5% | 1.1% | ||
| Q1 24 | 6.3% | -1.9% |
每股收益（稀释后）ATICAPL
| Q4 25 | $0.70 | $0.24 | ||
| Q3 25 | $0.78 | $0.34 | ||
| Q2 25 | $0.70 | $0.64 | ||
| Q1 25 | $0.67 | $-0.20 | ||
| Q4 24 | $0.94 | $0.42 | ||
| Q3 24 | $0.57 | $0.27 | ||
| Q2 24 | $0.58 | $0.31 | ||
| Q1 24 | $0.46 | $-0.48 |
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 | $3.1M |
| 总债务越低越好 | $1.7B | $687.2M |
| 股东权益账面价值 | $1.8B | — |
| 总资产 | $5.1B | $964.7M |
| 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ATICAPL
| Q4 25 | $416.7M | $3.1M | ||
| Q3 25 | $372.2M | $5.8M | ||
| Q2 25 | $319.6M | $9.7M | ||
| Q1 25 | $475.8M | $6.7M | ||
| Q4 24 | $721.2M | $3.4M | ||
| Q3 24 | $406.6M | $7.8M | ||
| Q2 24 | $425.6M | $5.5M | ||
| Q1 24 | $394.4M | $6.3M |
总债务ATICAPL
| Q4 25 | $1.7B | $687.2M | ||
| Q3 25 | $1.7B | $700.8M | ||
| Q2 25 | $1.7B | $722.7M | ||
| Q1 25 | $1.7B | $774.1M | ||
| Q4 24 | $1.7B | $763.9M | ||
| Q3 24 | $1.9B | $769.2M | ||
| Q2 24 | $1.9B | $786.7M | ||
| Q1 24 | $2.1B | $795.8M |
股东权益ATICAPL
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.3B | — |
总资产ATICAPL
| Q4 25 | $5.1B | $964.7M | ||
| Q3 25 | $5.0B | $998.9M | ||
| Q2 25 | $5.0B | $1.0B | ||
| Q1 25 | $5.2B | $1.1B | ||
| Q4 24 | $5.2B | $1.1B | ||
| Q3 24 | $5.1B | $1.1B | ||
| Q2 24 | $4.9B | $1.2B | ||
| Q1 24 | $4.8B | $1.2B |
负债/权益比ATICAPL
| 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 | $29.4M |
| 自由现金流经营现金流 - 资本支出 | $223.1M | $22.4M |
| 自由现金流率自由现金流/营收 | 19.0% | 2.6% |
| 资本支出强度资本支出/营收 | 7.9% | 0.8% |
| 现金转化率经营现金流/净利润 | 3.27× | 2.89× |
| 过去12个月自由现金流最近4个季度 | $333.7M | $55.8M |
8季度趋势，按日历期对齐
经营现金流ATICAPL
| Q4 25 | $315.8M | $29.4M | ||
| Q3 25 | $229.5M | $24.4M | ||
| Q2 25 | $161.5M | $22.6M | ||
| Q1 25 | $-92.5M | $15.0M | ||
| Q4 24 | $380.9M | $11.1M | ||
| Q3 24 | $24.0M | $41.9M | ||
| Q2 24 | $101.1M | $28.9M | ||
| Q1 24 | $-98.8M | $5.8M |
自由现金流ATICAPL
| Q4 25 | $223.1M | $22.4M | ||
| Q3 25 | $167.0M | $17.7M | ||
| Q2 25 | $89.4M | $10.8M | ||
| Q1 25 | $-145.8M | $4.9M | ||
| Q4 24 | $333.6M | $3.9M | ||
| Q3 24 | $-41.8M | $34.2M | ||
| Q2 24 | $40.9M | $23.6M | ||
| Q1 24 | $-164.6M | $-289.0K |
自由现金流率ATICAPL
| Q4 25 | 19.0% | 2.6% | ||
| Q3 25 | 14.8% | 1.8% | ||
| Q2 25 | 7.8% | 1.1% | ||
| Q1 25 | -12.7% | 0.6% | ||
| Q4 24 | 28.4% | 0.4% | ||
| Q3 24 | -4.0% | 3.2% | ||
| Q2 24 | 3.7% | 2.1% | ||
| Q1 24 | -15.8% | -0.0% |
资本支出强度ATICAPL
| Q4 25 | 7.9% | 0.8% | ||
| Q3 25 | 5.6% | 0.7% | ||
| Q2 25 | 6.3% | 1.2% | ||
| Q1 25 | 4.7% | 1.2% | ||
| Q4 24 | 4.0% | 0.8% | ||
| Q3 24 | 6.3% | 0.7% | ||
| Q2 24 | 5.5% | 0.5% | ||
| Q1 24 | 6.3% | 0.6% |
现金转化率ATICAPL
| Q4 25 | 3.27× | 2.89× | ||
| Q3 25 | 2.09× | 1.79× | ||
| Q2 25 | 1.60× | 0.90× | ||
| Q1 25 | -0.95× | — | ||
| Q4 24 | 2.78× | 0.66× | ||
| Q3 24 | 0.29× | 3.92× | ||
| Q2 24 | 1.23× | 2.33× | ||
| Q1 24 | -1.49× | — |
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% |
CAPL
| Retail Segment | $505.3M | 58% |
| Wholesale | $360.9M | 42% |
| Other | $1.2M | 0% |
