vs
ATI INC（ATI）与SPX Technologies, Inc.（SPXC）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SPX Technologies, Inc.的1.8倍（$1.2B vs $637.3M），SPX Technologies, Inc.净利率更高（12.2% vs 8.2%，领先4.0%），SPX Technologies, Inc.同比增速更快（19.4% vs 0.4%），ATI INC自由现金流更多（$223.1M vs $126.7M），过去两年SPX Technologies, Inc.的营收复合增速更高（17.0% 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。
SPX Technologies是美国头部制造企业，总部位于北卡罗来纳州夏洛特市，业务布局暖通空调、检测测量、输发电及工程解决方案四大核心领域，产品涵盖冷却塔、锅炉、地下管线定位仪、电力变压器、热交换器等，旗下拥有Waukesha、Dielectric、Genfare等多个知名品牌。
ATI vs SPXC — 直观对比
营收规模更大
ATI
是对方的1.8倍
$637.3M
营收增速更快
SPXC
高出19.0%
0.4%
净利率更高
SPXC
高出4.0%
8.2%
自由现金流更多
ATI
多$96.4M
$126.7M
两年增速更快
SPXC
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $637.3M |
| 净利润 | $96.6M | $77.9M |
| 毛利率 | 23.2% | 39.8% |
| 营业利润率 | 14.5% | 15.7% |
| 净利率 | 8.2% | 12.2% |
| 营收同比 | 0.4% | 19.4% |
| 净利润同比 | -29.5% | 36.4% |
| 每股收益（稀释后） | $0.70 | $1.56 |
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ATISPXC
| Q4 25 | $1.2B | $637.3M | ||
| Q3 25 | $1.1B | $592.8M | ||
| Q2 25 | $1.1B | $552.4M | ||
| Q1 25 | $1.1B | $482.6M | ||
| Q4 24 | $1.2B | $533.7M | ||
| Q3 24 | $1.1B | $483.7M | ||
| Q2 24 | $1.1B | $501.3M | ||
| Q1 24 | $1.0B | $465.2M |
净利润ATISPXC
| Q4 25 | $96.6M | $77.9M | ||
| Q3 25 | $110.0M | $62.7M | ||
| Q2 25 | $100.7M | $52.2M | ||
| Q1 25 | $97.0M | $51.2M | ||
| Q4 24 | $137.1M | $57.1M | ||
| Q3 24 | $82.7M | $50.2M | ||
| Q2 24 | $81.9M | $44.2M | ||
| Q1 24 | $66.1M | $49.0M |
毛利率ATISPXC
| Q4 25 | 23.2% | 39.8% | ||
| Q3 25 | 22.7% | 40.4% | ||
| Q2 25 | 21.3% | 41.4% | ||
| Q1 25 | 20.6% | 40.6% | ||
| Q4 24 | 21.2% | 40.9% | ||
| Q3 24 | 21.4% | 40.9% | ||
| Q2 24 | 20.8% | 40.1% | ||
| Q1 24 | 18.9% | 39.3% |
营业利润率ATISPXC
| Q4 25 | 14.5% | 15.7% | ||
| Q3 25 | 14.4% | 16.4% | ||
| Q2 25 | 14.1% | 15.7% | ||
| Q1 25 | 12.8% | 13.8% | ||
| Q4 24 | 17.8% | 16.9% | ||
| Q3 24 | 13.5% | 16.3% | ||
| Q2 24 | 13.0% | 14.9% | ||
| Q1 24 | 11.0% | 13.9% |
净利率ATISPXC
| Q4 25 | 8.2% | 12.2% | ||
| Q3 25 | 9.8% | 10.6% | ||
| Q2 25 | 8.8% | 9.4% | ||
| Q1 25 | 8.5% | 10.6% | ||
| Q4 24 | 11.7% | 10.7% | ||
| Q3 24 | 7.9% | 10.4% | ||
| Q2 24 | 7.5% | 8.8% | ||
| Q1 24 | 6.3% | 10.5% |
每股收益（稀释后）ATISPXC
| Q4 25 | $0.70 | $1.56 | ||
| Q3 25 | $0.78 | $1.28 | ||
| Q2 25 | $0.70 | $1.10 | ||
| Q1 25 | $0.67 | $1.09 | ||
| Q4 24 | $0.94 | $1.21 | ||
| Q3 24 | $0.57 | $1.06 | ||
| Q2 24 | $0.58 | $0.94 | ||
| Q1 24 | $0.46 | $1.05 |
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 | $364.0M |
| 总债务越低越好 | $1.7B | $496.7M |
| 股东权益账面价值 | $1.8B | $2.2B |
| 总资产 | $5.1B | $3.6B |
| 负债/权益比越低杠杆越低 | 0.95× | 0.22× |
8季度趋势，按日历期对齐
现金及短期投资ATISPXC
| Q4 25 | $416.7M | $364.0M | ||
| Q3 25 | $372.2M | $229.4M | ||
| Q2 25 | $319.6M | $132.8M | ||
| Q1 25 | $475.8M | $177.8M | ||
| Q4 24 | $721.2M | $156.9M | ||
| Q3 24 | $406.6M | $124.8M | ||
| Q2 24 | $425.6M | $128.1M | ||
| Q1 24 | $394.4M | $100.5M |
总债务ATISPXC
| Q4 25 | $1.7B | $496.7M | ||
| Q3 25 | $1.7B | $499.8M | ||
| Q2 25 | $1.7B | $950.3M | ||
| Q1 25 | $1.7B | $872.0M | ||
| Q4 24 | $1.7B | $577.0M | ||
| Q3 24 | $1.9B | $665.2M | ||
| Q2 24 | $1.9B | $509.9M | ||
| Q1 24 | $2.1B | $516.6M |
股东权益ATISPXC
| Q4 25 | $1.8B | $2.2B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.7B | $1.5B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | $1.4B | $1.3B | ||
| Q1 24 | $1.3B | $1.2B |
总资产ATISPXC
| Q4 25 | $5.1B | $3.6B | ||
| Q3 25 | $5.0B | $3.4B | ||
| Q2 25 | $5.0B | $3.3B | ||
| Q1 25 | $5.2B | $3.1B | ||
| Q4 24 | $5.2B | $2.7B | ||
| Q3 24 | $5.1B | $2.8B | ||
| Q2 24 | $4.9B | $2.8B | ||
| Q1 24 | $4.8B | $2.8B |
负债/权益比ATISPXC
| Q4 25 | 0.95× | 0.22× | ||
| Q3 25 | 1.00× | 0.23× | ||
| Q2 25 | 0.98× | 0.62× | ||
| Q1 25 | 0.91× | 0.60× | ||
| Q4 24 | 0.93× | 0.42× | ||
| Q3 24 | 1.04× | 0.49× | ||
| Q2 24 | 1.37× | 0.40× | ||
| Q1 24 | 1.70× | 0.42× |
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 | $195.2M |
| 自由现金流经营现金流 - 资本支出 | $223.1M | $126.7M |
| 自由现金流率自由现金流/营收 | 19.0% | 19.9% |
| 资本支出强度资本支出/营收 | 7.9% | 10.7% |
| 现金转化率经营现金流/净利润 | 3.27× | 2.51× |
| 过去12个月自由现金流最近4个季度 | $333.7M | $241.2M |
8季度趋势，按日历期对齐
经营现金流ATISPXC
| Q4 25 | $315.8M | $195.2M | ||
| Q3 25 | $229.5M | $106.5M | ||
| Q2 25 | $161.5M | $42.5M | ||
| Q1 25 | $-92.5M | $-10.9M | ||
| Q4 24 | $380.9M | $166.5M | ||
| Q3 24 | $24.0M | $51.4M | ||
| Q2 24 | $101.1M | $57.5M | ||
| Q1 24 | $-98.8M | $10.5M |
自由现金流ATISPXC
| Q4 25 | $223.1M | $126.7M | ||
| Q3 25 | $167.0M | $96.1M | ||
| Q2 25 | $89.4M | $34.8M | ||
| Q1 25 | $-145.8M | $-16.4M | ||
| Q4 24 | $333.6M | $156.7M | ||
| Q3 24 | $-41.8M | $43.5M | ||
| Q2 24 | $40.9M | $47.1M | ||
| Q1 24 | $-164.6M | $600.0K |
自由现金流率ATISPXC
| Q4 25 | 19.0% | 19.9% | ||
| Q3 25 | 14.8% | 16.2% | ||
| Q2 25 | 7.8% | 6.3% | ||
| Q1 25 | -12.7% | -3.4% | ||
| Q4 24 | 28.4% | 29.4% | ||
| Q3 24 | -4.0% | 9.0% | ||
| Q2 24 | 3.7% | 9.4% | ||
| Q1 24 | -15.8% | 0.1% |
资本支出强度ATISPXC
| Q4 25 | 7.9% | 10.7% | ||
| Q3 25 | 5.6% | 1.8% | ||
| Q2 25 | 6.3% | 1.4% | ||
| Q1 25 | 4.7% | 1.1% | ||
| Q4 24 | 4.0% | 1.8% | ||
| Q3 24 | 6.3% | 1.6% | ||
| Q2 24 | 5.5% | 2.1% | ||
| Q1 24 | 6.3% | 2.1% |
现金转化率ATISPXC
| Q4 25 | 3.27× | 2.51× | ||
| Q3 25 | 2.09× | 1.70× | ||
| Q2 25 | 1.60× | 0.81× | ||
| Q1 25 | -0.95× | -0.21× | ||
| Q4 24 | 2.78× | 2.92× | ||
| Q3 24 | 0.29× | 1.02× | ||
| Q2 24 | 1.23× | 1.30× | ||
| Q1 24 | -1.49× | 0.21× |
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% |
SPXC
| Package And Process Cooling Equipment And Services And Engineered Air Movement And Handling Solutions | $258.5M | 41% |
| Detectionand Measurement Reportable Segment | $206.2M | 32% |
| CA | $57.7M | 9% |
| Kranze Technology Solutions Inc | $37.9M | 6% |
| GB | $32.0M | 5% |
| Other Foreign Countries | $28.6M | 4% |
| Other | $16.4M | 3% |
