vs
Atmos Energy（ATO）与Maplebear Inc.（CART）财务数据对比。点击上方公司名可切换其他公司
Atmos Energy的季度营收约是Maplebear Inc.的1.4倍（$1.3B vs $992.0M），Atmos Energy净利率更高（30.0% vs 8.2%，领先21.8%），Atmos Energy同比增速更快（14.2% vs 12.3%），Maplebear Inc.自由现金流更多（$171.0M vs $-725.3M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs -9.7%）
Atmos Energy总部位于美国得克萨斯州达拉斯，是美国规模最大的纯天然气分销商之一，业务覆盖美国9个州的1400多个社区，为东起蓝岭山脉、西至落基山脉区域内的约300万天然气用户提供服务。
Maplebear Inc. 以Instacart为品牌开展业务，是总部位于美国旧金山的零售媒体及配送企业，在美国和加拿大运营生鲜杂货配送与自提服务。用户可通过官网及移动应用从合作商户订购食品杂货，在法律允许的地区还可选购酒类商品，所有订单由专属采购专员负责拣选、打包并配送上门。
ATO vs CART — 直观对比
营收规模更大
ATO
是对方的1.4倍
$992.0M
营收增速更快
ATO
高出1.8%
12.3%
净利率更高
ATO
高出21.8%
8.2%
自由现金流更多
CART
多$896.3M
$-725.3M
两年增速更快
CART
近两年复合增速
-9.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $992.0M |
| 净利润 | $403.0M | $81.0M |
| 毛利率 | — | 72.3% |
| 营业利润率 | 38.3% | 9.9% |
| 净利率 | 30.0% | 8.2% |
| 营收同比 | 14.2% | 12.3% |
| 净利润同比 | 14.5% | -45.3% |
| 每股收益（稀释后） | $2.44 | $0.31 |
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ATOCART
| Q4 25 | $1.3B | $992.0M | ||
| Q3 25 | $737.5M | $939.0M | ||
| Q2 25 | $838.8M | $914.0M | ||
| Q1 25 | $2.0B | $897.0M | ||
| Q4 24 | $1.2B | $883.0M | ||
| Q3 24 | $657.9M | $852.0M | ||
| Q2 24 | $701.5M | $823.0M | ||
| Q1 24 | $1.6B | $820.0M |
净利润ATOCART
| Q4 25 | $403.0M | $81.0M | ||
| Q3 25 | $174.9M | $144.0M | ||
| Q2 25 | $186.4M | $116.0M | ||
| Q1 25 | $485.6M | $106.0M | ||
| Q4 24 | $351.9M | $148.0M | ||
| Q3 24 | $134.0M | $118.0M | ||
| Q2 24 | $165.6M | $61.0M | ||
| Q1 24 | $432.0M | $130.0M |
毛利率ATOCART
| Q4 25 | — | 72.3% | ||
| Q3 25 | — | 73.7% | ||
| Q2 25 | — | 74.2% | ||
| Q1 25 | 60.0% | 74.8% | ||
| Q4 24 | 80.1% | 75.2% | ||
| Q3 24 | — | 75.2% | ||
| Q2 24 | — | 75.7% | ||
| Q1 24 | 62.1% | 74.9% |
营业利润率ATOCART
| Q4 25 | 38.3% | 9.9% | ||
| Q3 25 | 29.8% | 17.7% | ||
| Q2 25 | 30.1% | 13.6% | ||
| Q1 25 | 32.2% | 12.3% | ||
| Q4 24 | 39.1% | 17.6% | ||
| Q3 24 | 28.1% | 16.2% | ||
| Q2 24 | 31.4% | 6.3% | ||
| Q1 24 | 33.4% | 17.6% |
净利率ATOCART
| Q4 25 | 30.0% | 8.2% | ||
| Q3 25 | 23.7% | 15.3% | ||
| Q2 25 | 22.2% | 12.7% | ||
| Q1 25 | 24.9% | 11.8% | ||
| Q4 24 | 29.9% | 16.8% | ||
| Q3 24 | 20.4% | 13.8% | ||
| Q2 24 | 23.6% | 7.4% | ||
| Q1 24 | 26.2% | 15.9% |
每股收益（稀释后）ATOCART
| Q4 25 | $2.44 | $0.31 | ||
| Q3 25 | $1.04 | $0.51 | ||
| Q2 25 | $1.16 | $0.41 | ||
| Q1 25 | $3.03 | $0.37 | ||
| Q4 24 | $2.23 | $0.53 | ||
| Q3 24 | $0.82 | $0.42 | ||
| Q2 24 | $1.08 | $0.20 | ||
| Q1 24 | $2.85 | $0.43 |
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 | $367.0M | $687.0M |
| 总债务越低越好 | $9.6B | — |
| 股东权益账面价值 | $14.3B | $2.5B |
| 总资产 | $29.8B | $3.7B |
| 负债/权益比越低杠杆越低 | 0.67× | — |
8季度趋势，按日历期对齐
现金及短期投资ATOCART
| Q4 25 | $367.0M | $687.0M | ||
| Q3 25 | $202.7M | $1.7B | ||
| Q2 25 | $709.4M | $1.6B | ||
| Q1 25 | $543.5M | $1.6B | ||
| Q4 24 | $584.5M | $1.4B | ||
| Q3 24 | $307.3M | $1.3B | ||
| Q2 24 | $674.6M | $1.4B | ||
| Q1 24 | $262.5M | $1.5B |
总债务ATOCART
| Q4 25 | $9.6B | — | ||
| Q3 25 | $8.9B | — | ||
| Q2 25 | $8.9B | — | ||
| Q1 25 | $8.4B | — | ||
| Q4 24 | $8.4B | — | ||
| Q3 24 | $7.8B | — | ||
| Q2 24 | $7.8B | — | ||
| Q1 24 | $7.4B | — |
股东权益ATOCART
| Q4 25 | $14.3B | $2.5B | ||
| Q3 25 | $13.6B | $3.5B | ||
| Q2 25 | $13.4B | $3.3B | ||
| Q1 25 | $13.1B | $3.2B | ||
| Q4 24 | $12.8B | $3.1B | ||
| Q3 24 | $12.2B | $2.9B | ||
| Q2 24 | $12.2B | $3.0B | ||
| Q1 24 | $11.6B | $3.1B |
总资产ATOCART
| Q4 25 | $29.8B | $3.7B | ||
| Q3 25 | $28.2B | $4.5B | ||
| Q2 25 | $27.7B | $4.4B | ||
| Q1 25 | $27.0B | $4.3B | ||
| Q4 24 | $26.5B | $4.1B | ||
| Q3 24 | $25.2B | $3.9B | ||
| Q2 24 | $24.9B | $4.0B | ||
| Q1 24 | $24.0B | $4.1B |
负债/权益比ATOCART
| Q4 25 | 0.67× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.64× | — | ||
| Q1 24 | 0.64× | — |
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 | $308.1M | $183.0M |
| 自由现金流经营现金流 - 资本支出 | $-725.3M | $171.0M |
| 自由现金流率自由现金流/营收 | -54.0% | 17.2% |
| 资本支出强度资本支出/营收 | 77.0% | 1.2% |
| 现金转化率经营现金流/净利润 | 0.76× | 2.26× |
| 过去12个月自由现金流最近4个季度 | $-1.6B | $910.0M |
8季度趋势，按日历期对齐
经营现金流ATOCART
| Q4 25 | $308.1M | $183.0M | ||
| Q3 25 | $348.1M | $287.0M | ||
| Q2 25 | $496.4M | $203.0M | ||
| Q1 25 | $922.9M | $298.0M | ||
| Q4 24 | $282.0M | $153.0M | ||
| Q3 24 | $330.7M | $185.0M | ||
| Q2 24 | $411.2M | $244.0M | ||
| Q1 24 | $746.6M | $105.0M |
自由现金流ATOCART
| Q4 25 | $-725.3M | $171.0M | ||
| Q3 25 | $-615.5M | $272.0M | ||
| Q2 25 | $-370.6M | $187.0M | ||
| Q1 25 | $83.3M | $280.0M | ||
| Q4 24 | $-609.2M | $141.0M | ||
| Q3 24 | $-477.3M | $171.0M | ||
| Q2 24 | $-302.4M | $220.0M | ||
| Q1 24 | $100.7M | $91.0M |
自由现金流率ATOCART
| Q4 25 | -54.0% | 17.2% | ||
| Q3 25 | -83.5% | 29.0% | ||
| Q2 25 | -44.2% | 20.5% | ||
| Q1 25 | 4.3% | 31.2% | ||
| Q4 24 | -51.8% | 16.0% | ||
| Q3 24 | -72.5% | 20.1% | ||
| Q2 24 | -43.1% | 26.7% | ||
| Q1 24 | 6.1% | 11.1% |
资本支出强度ATOCART
| Q4 25 | 77.0% | 1.2% | ||
| Q3 25 | 130.7% | 1.6% | ||
| Q2 25 | 103.4% | 1.8% | ||
| Q1 25 | 43.0% | 2.0% | ||
| Q4 24 | 75.8% | 1.4% | ||
| Q3 24 | 122.8% | 1.6% | ||
| Q2 24 | 101.7% | 2.9% | ||
| Q1 24 | 39.2% | 1.7% |
现金转化率ATOCART
| Q4 25 | 0.76× | 2.26× | ||
| Q3 25 | 1.99× | 1.99× | ||
| Q2 25 | 2.66× | 1.75× | ||
| Q1 25 | 1.90× | 2.81× | ||
| Q4 24 | 0.80× | 1.03× | ||
| Q3 24 | 2.47× | 1.57× | ||
| Q2 24 | 2.48× | 4.00× | ||
| Q1 24 | 1.73× | 0.81× |
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
ATO
| Distribution Segment | $1.3B | 94% |
| Transportation Revenue | $41.5M | 3% |
| Other | $39.4M | 3% |
| Miscellaneous Revenue | $2.8M | 0% |
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
