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阿普塔集团（ATR）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
阿普塔集团的季度营收约是明晟的1.2倍（$982.9M vs $822.5M），明晟净利率更高（34.6% vs 7.4%，领先27.2%），阿普塔集团同比增速更快（10.8% vs 10.6%），明晟自由现金流更多（$488.7M vs $53.3M），过去两年明晟的营收复合增速更高（10.0% vs 3.9%）
阿普塔集团（AptarGroup, Inc.）是总部位于美国的全球性制造企业，主营消费品分配包装产品及药物给药装置的研发与生产，目前在全球18个国家设有生产运营基地，服务医药、快消等多领域客户。
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
ATR vs MSCI — 直观对比
营收规模更大
ATR
是对方的1.2倍
$822.5M
营收增速更快
ATR
高出0.1%
10.6%
净利率更高
MSCI
高出27.2%
7.4%
自由现金流更多
MSCI
多$435.4M
$53.3M
两年增速更快
MSCI
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $982.9M | $822.5M |
| 净利润 | $72.8M | $284.7M |
| 毛利率 | — | — |
| 营业利润率 | 10.9% | 56.4% |
| 净利率 | 7.4% | 34.6% |
| 营收同比 | 10.8% | 10.6% |
| 净利润同比 | -7.5% | -6.8% |
| 每股收益（稀释后） | $1.12 | $3.81 |
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ATRMSCI
| Q1 26 | $982.9M | — | ||
| Q4 25 | $962.7M | $822.5M | ||
| Q3 25 | $961.1M | $793.4M | ||
| Q2 25 | $966.0M | $772.7M | ||
| Q1 25 | $887.3M | $745.8M | ||
| Q4 24 | $848.1M | $743.5M | ||
| Q3 24 | $909.3M | $724.7M | ||
| Q2 24 | $910.1M | $707.9M |
净利润ATRMSCI
| Q1 26 | $72.8M | — | ||
| Q4 25 | $74.3M | $284.7M | ||
| Q3 25 | $127.9M | $325.4M | ||
| Q2 25 | $111.7M | $303.6M | ||
| Q1 25 | $78.8M | $288.6M | ||
| Q4 24 | $100.9M | $305.5M | ||
| Q3 24 | $100.0M | $280.9M | ||
| Q2 24 | $90.5M | $266.8M |
营业利润率ATRMSCI
| Q1 26 | 10.9% | — | ||
| Q4 25 | 11.0% | 56.4% | ||
| Q3 25 | 14.2% | 56.4% | ||
| Q2 25 | 14.9% | 55.0% | ||
| Q1 25 | 12.8% | 50.6% | ||
| Q4 24 | 14.2% | 54.5% | ||
| Q3 24 | 15.2% | 55.4% | ||
| Q2 24 | 13.8% | 54.0% |
净利率ATRMSCI
| Q1 26 | 7.4% | — | ||
| Q4 25 | 7.7% | 34.6% | ||
| Q3 25 | 13.3% | 41.0% | ||
| Q2 25 | 11.6% | 39.3% | ||
| Q1 25 | 8.9% | 38.7% | ||
| Q4 24 | 11.9% | 41.1% | ||
| Q3 24 | 11.0% | 38.8% | ||
| Q2 24 | 9.9% | 37.7% |
每股收益（稀释后）ATRMSCI
| Q1 26 | $1.12 | — | ||
| Q4 25 | $1.13 | $3.81 | ||
| Q3 25 | $1.92 | $4.25 | ||
| Q2 25 | $1.67 | $3.92 | ||
| Q1 25 | $1.17 | $3.71 | ||
| Q4 24 | $1.48 | $3.89 | ||
| Q3 24 | $1.48 | $3.57 | ||
| Q2 24 | $1.34 | $3.37 |
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 | $229.5M | $515.3M |
| 总债务越低越好 | — | $6.2B |
| 股东权益账面价值 | $2.6B | $-2.7B |
| 总资产 | $5.1B | $5.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ATRMSCI
| Q1 26 | $229.5M | — | ||
| Q4 25 | $409.5M | $515.3M | ||
| Q3 25 | $264.8M | $400.1M | ||
| Q2 25 | $169.8M | $347.3M | ||
| Q1 25 | $136.8M | $360.7M | ||
| Q4 24 | $226.2M | $409.4M | ||
| Q3 24 | $327.9M | $501.0M | ||
| Q2 24 | $223.9M | $451.4M |
总债务ATRMSCI
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $6.2B | ||
| Q3 25 | $546.0M | $5.5B | ||
| Q2 25 | $535.1M | $4.5B | ||
| Q1 25 | $561.2M | $4.5B | ||
| Q4 24 | $688.1M | $4.5B | ||
| Q3 24 | $822.7M | $4.5B | ||
| Q2 24 | $681.5M | $4.5B |
股东权益ATRMSCI
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.7B | $-2.7B | ||
| Q3 25 | $2.8B | $-1.9B | ||
| Q2 25 | $2.7B | $-886.2M | ||
| Q1 25 | $2.5B | $-958.6M | ||
| Q4 24 | $2.5B | $-940.0M | ||
| Q3 24 | $2.5B | $-751.0M | ||
| Q2 24 | $2.4B | $-734.5M |
总资产ATRMSCI
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.3B | $5.7B | ||
| Q3 25 | $5.1B | $5.4B | ||
| Q2 25 | $4.9B | $5.4B | ||
| Q1 25 | $4.5B | $5.3B | ||
| Q4 24 | $4.4B | $5.4B | ||
| Q3 24 | $4.6B | $5.4B | ||
| Q2 24 | $4.5B | $5.5B |
负债/权益比ATRMSCI
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.28× | — |
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 | — | $501.1M |
| 自由现金流经营现金流 - 资本支出 | $53.3M | $488.7M |
| 自由现金流率自由现金流/营收 | 5.4% | 59.4% |
| 资本支出强度资本支出/营收 | 6.7% | 1.5% |
| 现金转化率经营现金流/净利润 | — | 1.76× |
| 过去12个月自由现金流最近4个季度 | $327.0M | $1.5B |
8季度趋势，按日历期对齐
经营现金流ATRMSCI
| Q1 26 | — | — | ||
| Q4 25 | $183.7M | $501.1M | ||
| Q3 25 | $177.6M | $449.4M | ||
| Q2 25 | $126.0M | $336.1M | ||
| Q1 25 | $82.7M | $301.7M | ||
| Q4 24 | $178.2M | $430.6M | ||
| Q3 24 | $229.3M | $421.6M | ||
| Q2 24 | $143.6M | $349.2M |
自由现金流ATRMSCI
| Q1 26 | $53.3M | — | ||
| Q4 25 | $96.9M | $488.7M | ||
| Q3 25 | $114.3M | $445.5M | ||
| Q2 25 | $62.5M | $324.7M | ||
| Q1 25 | $25.9M | $290.2M | ||
| Q4 24 | $112.2M | $416.4M | ||
| Q3 24 | $162.7M | $415.0M | ||
| Q2 24 | $75.4M | $340.6M |
自由现金流率ATRMSCI
| Q1 26 | 5.4% | — | ||
| Q4 25 | 10.1% | 59.4% | ||
| Q3 25 | 11.9% | 56.2% | ||
| Q2 25 | 6.5% | 42.0% | ||
| Q1 25 | 2.9% | 38.9% | ||
| Q4 24 | 13.2% | 56.0% | ||
| Q3 24 | 17.9% | 57.3% | ||
| Q2 24 | 8.3% | 48.1% |
资本支出强度ATRMSCI
| Q1 26 | 6.7% | — | ||
| Q4 25 | 9.0% | 1.5% | ||
| Q3 25 | 6.6% | 0.5% | ||
| Q2 25 | 6.6% | 1.5% | ||
| Q1 25 | 6.4% | 1.5% | ||
| Q4 24 | 7.8% | 1.9% | ||
| Q3 24 | 7.3% | 0.9% | ||
| Q2 24 | 7.5% | 1.2% |
现金转化率ATRMSCI
| Q1 26 | — | — | ||
| Q4 25 | 2.47× | 1.76× | ||
| Q3 25 | 1.39× | 1.38× | ||
| Q2 25 | 1.13× | 1.11× | ||
| Q1 25 | 1.05× | 1.05× | ||
| Q4 24 | 1.77× | 1.41× | ||
| Q3 24 | 2.29× | 1.50× | ||
| Q2 24 | 1.59× | 1.31× |
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
ATR
暂无分部数据
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
