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ATI INC（ATI）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是ATI INC的1.4倍（$1.7B vs $1.2B），ATI INC净利率更高（8.2% vs 3.7%，领先4.5%），ATI INC同比增速更快（0.4% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $223.1M），过去两年ATI INC的营收复合增速更高（6.2% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
ATI vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.4倍
$1.2B
营收增速更快
ATI
高出9.4%
-9.0%
净利率更高
ATI
高出4.5%
3.7%
自由现金流更多
RUSHA
多$188.5M
$223.1M
两年增速更快
ATI
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | $96.6M | $61.7M |
| 毛利率 | 23.2% | 20.4% |
| 营业利润率 | 14.5% | 4.9% |
| 净利率 | 8.2% | 3.7% |
| 营收同比 | 0.4% | -9.0% |
| 净利润同比 | -29.5% | 1.8% |
| 每股收益（稀释后） | $0.70 | $0.77 |
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ATIRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.1B | $1.8B | ||
| Q1 25 | $1.1B | $1.8B | ||
| Q4 24 | $1.2B | $1.9B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.1B | $1.9B |
净利润ATIRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $96.6M | $64.3M | ||
| Q3 25 | $110.0M | $66.7M | ||
| Q2 25 | $100.7M | $72.4M | ||
| Q1 25 | $97.0M | $60.3M | ||
| Q4 24 | $137.1M | $74.8M | ||
| Q3 24 | $82.7M | $79.1M | ||
| Q2 24 | $81.9M | $78.7M |
毛利率ATIRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 23.2% | 20.8% | ||
| Q3 25 | 22.7% | 21.0% | ||
| Q2 25 | 21.3% | 20.7% | ||
| Q1 25 | 20.6% | 20.3% | ||
| Q4 24 | 21.2% | 19.3% | ||
| Q3 24 | 21.4% | 21.0% | ||
| Q2 24 | 20.8% | 20.2% |
营业利润率ATIRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 14.5% | 5.5% | ||
| Q3 25 | 14.4% | 5.6% | ||
| Q2 25 | 14.1% | 6.0% | ||
| Q1 25 | 12.8% | 5.2% | ||
| Q4 24 | 17.8% | 5.8% | ||
| Q3 24 | 13.5% | 6.7% | ||
| Q2 24 | 13.0% | 6.4% |
净利率ATIRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 8.2% | 3.8% | ||
| Q3 25 | 9.8% | 3.7% | ||
| Q2 25 | 8.8% | 3.9% | ||
| Q1 25 | 8.5% | 3.4% | ||
| Q4 24 | 11.7% | 3.9% | ||
| Q3 24 | 7.9% | 4.4% | ||
| Q2 24 | 7.5% | 4.1% |
每股收益（稀释后）ATIRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $0.70 | $0.81 | ||
| Q3 25 | $0.78 | $0.83 | ||
| Q2 25 | $0.70 | $0.90 | ||
| Q1 25 | $0.67 | $0.73 | ||
| Q4 24 | $0.94 | $-95.13 | ||
| Q3 24 | $0.57 | $0.97 | ||
| Q2 24 | $0.58 | $97.00 |
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 | — |
| 总债务越低越好 | $1.7B | $277.8M |
| 股东权益账面价值 | $1.8B | $2.3B |
| 总资产 | $5.1B | $4.5B |
| 负债/权益比越低杠杆越低 | 0.95× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资ATIRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $416.7M | $212.6M | ||
| Q3 25 | $372.2M | $242.0M | ||
| Q2 25 | $319.6M | $211.1M | ||
| Q1 25 | $475.8M | $228.7M | ||
| Q4 24 | $721.2M | $228.1M | ||
| Q3 24 | $406.6M | $185.1M | ||
| Q2 24 | $425.6M | $167.3M |
总债务ATIRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $1.7B | $274.8M | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $408.4M | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — |
股东权益ATIRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.8B | $2.2B | ||
| Q3 25 | $1.7B | $2.2B | ||
| Q2 25 | $1.7B | $2.2B | ||
| Q1 25 | $1.9B | $2.2B | ||
| Q4 24 | $1.9B | $2.1B | ||
| Q3 24 | $1.8B | $2.1B | ||
| Q2 24 | $1.4B | $2.0B |
总资产ATIRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $5.1B | $4.4B | ||
| Q3 25 | $5.0B | $4.6B | ||
| Q2 25 | $5.0B | $4.7B | ||
| Q1 25 | $5.2B | $4.7B | ||
| Q4 24 | $5.2B | $4.6B | ||
| Q3 24 | $5.1B | $4.6B | ||
| Q2 24 | $4.9B | $4.5B |
负债/权益比ATIRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 0.95× | 0.12× | ||
| Q3 25 | 1.00× | — | ||
| Q2 25 | 0.98× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 0.93× | 0.19× | ||
| Q3 24 | 1.04× | — | ||
| Q2 24 | 1.37× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $223.1M | $411.6M |
| 自由现金流率自由现金流/营收 | 19.0% | 24.4% |
| 资本支出强度资本支出/营收 | 7.9% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流ATIRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $315.8M | $112.9M | ||
| Q3 25 | $229.5M | $367.8M | ||
| Q2 25 | $161.5M | $227.6M | ||
| Q1 25 | $-92.5M | $153.5M | ||
| Q4 24 | $380.9M | $392.3M | ||
| Q3 24 | $24.0M | $111.7M | ||
| Q2 24 | $101.1M | $270.6M |
自由现金流ATIRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $223.1M | $31.9M | ||
| Q3 25 | $167.0M | $271.2M | ||
| Q2 25 | $89.4M | $113.8M | ||
| Q1 25 | $-145.8M | $45.1M | ||
| Q4 24 | $333.6M | $263.5M | ||
| Q3 24 | $-41.8M | $-20.0M | ||
| Q2 24 | $40.9M | $177.2M |
自由现金流率ATIRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 19.0% | 1.9% | ||
| Q3 25 | 14.8% | 15.2% | ||
| Q2 25 | 7.8% | 6.2% | ||
| Q1 25 | -12.7% | 2.6% | ||
| Q4 24 | 28.4% | 13.7% | ||
| Q3 24 | -4.0% | -1.1% | ||
| Q2 24 | 3.7% | 9.1% |
资本支出强度ATIRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 7.9% | 4.8% | ||
| Q3 25 | 5.6% | 5.4% | ||
| Q2 25 | 6.3% | 6.2% | ||
| Q1 25 | 4.7% | 6.2% | ||
| Q4 24 | 4.0% | 6.7% | ||
| Q3 24 | 6.3% | 7.3% | ||
| Q2 24 | 5.5% | 4.8% |
现金转化率ATIRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 3.27× | 1.75× | ||
| Q3 25 | 2.09× | 5.51× | ||
| Q2 25 | 1.60× | 3.14× | ||
| Q1 25 | -0.95× | 2.55× | ||
| Q4 24 | 2.78× | 5.25× | ||
| Q3 24 | 0.29× | 1.41× | ||
| Q2 24 | 1.23× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
