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ATI INC（ATI）与摩丁制造（MOD）财务数据对比。点击上方公司名可切换其他公司
ATI INC的季度营收约是摩丁制造的1.5倍（$1.2B vs $805.0M），ATI INC净利率更高（8.2% vs -5.9%，领先14.1%），摩丁制造同比增速更快（30.5% vs 0.4%），ATI INC自由现金流更多（$223.1M vs $-17.1M），过去两年摩丁制造的营收复合增速更高（15.5% vs 6.2%）
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。
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
ATI vs MOD — 直观对比
营收规模更大
ATI
是对方的1.5倍
$805.0M
营收增速更快
MOD
高出30.1%
0.4%
净利率更高
ATI
高出14.1%
-5.9%
自由现金流更多
ATI
多$240.2M
$-17.1M
两年增速更快
MOD
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $805.0M |
| 净利润 | $96.6M | $-47.4M |
| 毛利率 | 23.2% | 23.1% |
| 营业利润率 | 14.5% | 11.1% |
| 净利率 | 8.2% | -5.9% |
| 营收同比 | 0.4% | 30.5% |
| 净利润同比 | -29.5% | -215.6% |
| 每股收益（稀释后） | $0.70 | $-0.90 |
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ATIMOD
| Q4 25 | $1.2B | $805.0M | ||
| Q3 25 | $1.1B | $738.9M | ||
| Q2 25 | $1.1B | $682.8M | ||
| Q1 25 | $1.1B | $647.2M | ||
| Q4 24 | $1.2B | $616.8M | ||
| Q3 24 | $1.1B | $658.0M | ||
| Q2 24 | $1.1B | $661.5M | ||
| Q1 24 | $1.0B | $603.5M |
净利润ATIMOD
| Q4 25 | $96.6M | $-47.4M | ||
| Q3 25 | $110.0M | $44.4M | ||
| Q2 25 | $100.7M | $51.2M | ||
| Q1 25 | $97.0M | $49.6M | ||
| Q4 24 | $137.1M | $41.0M | ||
| Q3 24 | $82.7M | $46.1M | ||
| Q2 24 | $81.9M | $47.3M | ||
| Q1 24 | $66.1M | $25.8M |
毛利率ATIMOD
| Q4 25 | 23.2% | 23.1% | ||
| Q3 25 | 22.7% | 22.3% | ||
| Q2 25 | 21.3% | 24.2% | ||
| Q1 25 | 20.6% | 25.6% | ||
| Q4 24 | 21.2% | 24.3% | ||
| Q3 24 | 21.4% | 25.2% | ||
| Q2 24 | 20.8% | 24.6% | ||
| Q1 24 | 18.9% | 22.4% |
营业利润率ATIMOD
| Q4 25 | 14.5% | 11.1% | ||
| Q3 25 | 14.4% | 9.9% | ||
| Q2 25 | 14.1% | 11.1% | ||
| Q1 25 | 12.8% | 11.5% | ||
| Q4 24 | 17.8% | 9.6% | ||
| Q3 24 | 13.5% | 11.4% | ||
| Q2 24 | 13.0% | 11.2% | ||
| Q1 24 | 11.0% | 7.8% |
净利率ATIMOD
| Q4 25 | 8.2% | -5.9% | ||
| Q3 25 | 9.8% | 6.0% | ||
| Q2 25 | 8.8% | 7.5% | ||
| Q1 25 | 8.5% | 7.7% | ||
| Q4 24 | 11.7% | 6.6% | ||
| Q3 24 | 7.9% | 7.0% | ||
| Q2 24 | 7.5% | 7.2% | ||
| Q1 24 | 6.3% | 4.3% |
每股收益（稀释后）ATIMOD
| Q4 25 | $0.70 | $-0.90 | ||
| Q3 25 | $0.78 | $0.83 | ||
| Q2 25 | $0.70 | $0.95 | ||
| Q1 25 | $0.67 | $0.92 | ||
| Q4 24 | $0.94 | $0.76 | ||
| Q3 24 | $0.57 | $0.86 | ||
| Q2 24 | $0.58 | $0.88 | ||
| 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 | $98.7M |
| 总债务越低越好 | $1.7B | $570.7M |
| 股东权益账面价值 | $1.8B | $1.1B |
| 总资产 | $5.1B | $2.5B |
| 负债/权益比越低杠杆越低 | 0.95× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资ATIMOD
| Q4 25 | $416.7M | $98.7M | ||
| Q3 25 | $372.2M | $83.8M | ||
| Q2 25 | $319.6M | $124.5M | ||
| Q1 25 | $475.8M | $71.6M | ||
| Q4 24 | $721.2M | $83.8M | ||
| Q3 24 | $406.6M | $78.6M | ||
| Q2 24 | $425.6M | $72.9M | ||
| Q1 24 | $394.4M | $60.1M |
总债务ATIMOD
| Q4 25 | $1.7B | $570.7M | ||
| Q3 25 | $1.7B | $525.8M | ||
| Q2 25 | $1.7B | $482.1M | ||
| Q1 25 | $1.7B | $296.7M | ||
| Q4 24 | $1.7B | $330.0M | ||
| Q3 24 | $1.9B | $359.1M | ||
| Q2 24 | $1.9B | $405.7M | ||
| Q1 24 | $2.1B | $399.9M |
股东权益ATIMOD
| Q4 25 | $1.8B | $1.1B | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.7B | $1.0B | ||
| Q1 25 | $1.9B | $910.2M | ||
| Q4 24 | $1.9B | $855.1M | ||
| Q3 24 | $1.8B | $858.8M | ||
| Q2 24 | $1.4B | $788.4M | ||
| Q1 24 | $1.3B | $747.6M |
总资产ATIMOD
| Q4 25 | $5.1B | $2.5B | ||
| Q3 25 | $5.0B | $2.4B | ||
| Q2 25 | $5.0B | $2.2B | ||
| Q1 25 | $5.2B | $1.9B | ||
| Q4 24 | $5.2B | $1.8B | ||
| Q3 24 | $5.1B | $1.9B | ||
| Q2 24 | $4.9B | $1.9B | ||
| Q1 24 | $4.8B | $1.9B |
负债/权益比ATIMOD
| Q4 25 | 0.95× | 0.51× | ||
| Q3 25 | 1.00× | 0.50× | ||
| Q2 25 | 0.98× | 0.48× | ||
| Q1 25 | 0.91× | 0.33× | ||
| Q4 24 | 0.93× | 0.39× | ||
| Q3 24 | 1.04× | 0.42× | ||
| Q2 24 | 1.37× | 0.51× | ||
| Q1 24 | 1.70× | 0.53× |
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 | $24.7M |
| 自由现金流经营现金流 - 资本支出 | $223.1M | $-17.1M |
| 自由现金流率自由现金流/营收 | 19.0% | -2.1% |
| 资本支出强度资本支出/营收 | 7.9% | 5.2% |
| 现金转化率经营现金流/净利润 | 3.27× | — |
| 过去12个月自由现金流最近4个季度 | $333.7M | $-20.3M |
8季度趋势，按日历期对齐
经营现金流ATIMOD
| Q4 25 | $315.8M | $24.7M | ||
| Q3 25 | $229.5M | $1.4M | ||
| Q2 25 | $161.5M | $27.7M | ||
| Q1 25 | $-92.5M | $54.8M | ||
| Q4 24 | $380.9M | $60.7M | ||
| Q3 24 | $24.0M | $57.3M | ||
| Q2 24 | $101.1M | $40.5M | ||
| Q1 24 | $-98.8M | $39.6M |
自由现金流ATIMOD
| Q4 25 | $223.1M | $-17.1M | ||
| Q3 25 | $167.0M | $-30.5M | ||
| Q2 25 | $89.4M | $200.0K | ||
| Q1 25 | $-145.8M | $27.1M | ||
| Q4 24 | $333.6M | $44.7M | ||
| Q3 24 | $-41.8M | $43.8M | ||
| Q2 24 | $40.9M | $13.7M | ||
| Q1 24 | $-164.6M | $-4.3M |
自由现金流率ATIMOD
| Q4 25 | 19.0% | -2.1% | ||
| Q3 25 | 14.8% | -4.1% | ||
| Q2 25 | 7.8% | 0.0% | ||
| Q1 25 | -12.7% | 4.2% | ||
| Q4 24 | 28.4% | 7.2% | ||
| Q3 24 | -4.0% | 6.7% | ||
| Q2 24 | 3.7% | 2.1% | ||
| Q1 24 | -15.8% | -0.7% |
资本支出强度ATIMOD
| Q4 25 | 7.9% | 5.2% | ||
| Q3 25 | 5.6% | 4.3% | ||
| Q2 25 | 6.3% | 4.0% | ||
| Q1 25 | 4.7% | 4.3% | ||
| Q4 24 | 4.0% | 2.6% | ||
| Q3 24 | 6.3% | 2.1% | ||
| Q2 24 | 5.5% | 4.1% | ||
| Q1 24 | 6.3% | 7.3% |
现金转化率ATIMOD
| Q4 25 | 3.27× | — | ||
| Q3 25 | 2.09× | 0.03× | ||
| Q2 25 | 1.60× | 0.54× | ||
| Q1 25 | -0.95× | 1.10× | ||
| Q4 24 | 2.78× | 1.48× | ||
| Q3 24 | 0.29× | 1.24× | ||
| Q2 24 | 1.23× | 0.86× | ||
| Q1 24 | -1.49× | 1.53× |
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% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
