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阿普塔集团（ATR）与罗塞塔石碑（STEP）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罗塞塔石碑的1.7倍（$982.9M vs $586.5M），阿普塔集团净利率更高（7.4% vs -21.0%，领先28.5%），罗塞塔石碑同比增速更快（73.0% vs 10.8%），阿普塔集团自由现金流更多（$53.3M vs $26.7M），过去两年罗塞塔石碑的营收复合增速更高（28.2% 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。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
ATR vs STEP — 直观对比
营收规模更大
ATR
是对方的1.7倍
$586.5M
营收增速更快
STEP
高出62.2%
10.8%
净利率更高
ATR
高出28.5%
-21.0%
自由现金流更多
ATR
多$26.6M
$26.7M
两年增速更快
STEP
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $982.9M | $586.5M |
| 净利润 | $72.8M | $-123.5M |
| 毛利率 | — | — |
| 营业利润率 | 10.9% | -33.2% |
| 净利率 | 7.4% | -21.0% |
| 营收同比 | 10.8% | 73.0% |
| 净利润同比 | -7.5% | 35.7% |
| 每股收益（稀释后） | $1.12 | $-1.55 |
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ATRSTEP
| Q1 26 | $982.9M | — | ||
| Q4 25 | $962.7M | $586.5M | ||
| Q3 25 | $961.1M | $454.2M | ||
| Q2 25 | $966.0M | $364.3M | ||
| Q1 25 | $887.3M | $377.7M | ||
| Q4 24 | $848.1M | $339.0M | ||
| Q3 24 | $909.3M | $271.7M | ||
| Q2 24 | $910.1M | $186.4M |
净利润ATRSTEP
| Q1 26 | $72.8M | — | ||
| Q4 25 | $74.3M | $-123.5M | ||
| Q3 25 | $127.9M | $-366.1M | ||
| Q2 25 | $111.7M | $-38.4M | ||
| Q1 25 | $78.8M | $-18.5M | ||
| Q4 24 | $100.9M | $-192.0M | ||
| Q3 24 | $100.0M | $17.6M | ||
| Q2 24 | $90.5M | $13.3M |
营业利润率ATRSTEP
| Q1 26 | 10.9% | — | ||
| Q4 25 | 11.0% | -33.2% | ||
| Q3 25 | 14.2% | -148.8% | ||
| Q2 25 | 14.9% | -5.6% | ||
| Q1 25 | 12.8% | 2.6% | ||
| Q4 24 | 14.2% | -101.7% | ||
| Q3 24 | 15.2% | 21.3% | ||
| Q2 24 | 13.8% | 29.4% |
净利率ATRSTEP
| Q1 26 | 7.4% | — | ||
| Q4 25 | 7.7% | -21.0% | ||
| Q3 25 | 13.3% | -80.6% | ||
| Q2 25 | 11.6% | -10.5% | ||
| Q1 25 | 8.9% | -4.9% | ||
| Q4 24 | 11.9% | -56.6% | ||
| Q3 24 | 11.0% | 6.5% | ||
| Q2 24 | 9.9% | 7.2% |
每股收益（稀释后）ATRSTEP
| Q1 26 | $1.12 | — | ||
| Q4 25 | $1.13 | $-1.55 | ||
| Q3 25 | $1.92 | $-4.66 | ||
| Q2 25 | $1.67 | $-0.49 | ||
| Q1 25 | $1.17 | $-0.37 | ||
| Q4 24 | $1.48 | $-2.61 | ||
| Q3 24 | $1.48 | $0.26 | ||
| Q2 24 | $1.34 | $0.20 |
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 | — |
| 总债务越低越好 | — | $270.2M |
| 股东权益账面价值 | $2.6B | $-378.8M |
| 总资产 | $5.1B | $5.2B |
| 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ATRSTEP
| Q1 26 | $229.5M | — | ||
| Q4 25 | $409.5M | — | ||
| Q3 25 | $264.8M | — | ||
| Q2 25 | $169.8M | — | ||
| Q1 25 | $136.8M | — | ||
| Q4 24 | $226.2M | — | ||
| Q3 24 | $327.9M | — | ||
| Q2 24 | $223.9M | — |
总债务ATRSTEP
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $270.2M | ||
| Q3 25 | $546.0M | $269.9M | ||
| Q2 25 | $535.1M | $269.6M | ||
| Q1 25 | $561.2M | $269.3M | ||
| Q4 24 | $688.1M | $168.9M | ||
| Q3 24 | $822.7M | $172.3M | ||
| Q2 24 | $681.5M | $172.1M |
股东权益ATRSTEP
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.7B | $-378.8M | ||
| Q3 25 | $2.8B | $-233.5M | ||
| Q2 25 | $2.7B | $153.9M | ||
| Q1 25 | $2.5B | $179.4M | ||
| Q4 24 | $2.5B | $209.8M | ||
| Q3 24 | $2.5B | $397.5M | ||
| Q2 24 | $2.4B | $366.9M |
总资产ATRSTEP
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.3B | $5.2B | ||
| Q3 25 | $5.1B | $5.3B | ||
| Q2 25 | $4.9B | $4.8B | ||
| Q1 25 | $4.5B | $4.6B | ||
| Q4 24 | $4.4B | $4.3B | ||
| Q3 24 | $4.6B | $4.0B | ||
| Q2 24 | $4.5B | $3.8B |
负债/权益比ATRSTEP
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.20× | 1.75× | ||
| Q1 25 | 0.22× | 1.50× | ||
| Q4 24 | 0.28× | 0.81× | ||
| Q3 24 | 0.32× | 0.43× | ||
| Q2 24 | 0.28× | 0.47× |
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 | — | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $53.3M | $26.7M |
| 自由现金流率自由现金流/营收 | 5.4% | 4.6% |
| 资本支出强度资本支出/营收 | 6.7% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $327.0M | $18.6M |
8季度趋势，按日历期对齐
经营现金流ATRSTEP
| Q1 26 | — | — | ||
| Q4 25 | $183.7M | $27.2M | ||
| Q3 25 | $177.6M | $16.2M | ||
| Q2 25 | $126.0M | $46.3M | ||
| Q1 25 | $82.7M | $-66.5M | ||
| Q4 24 | $178.2M | $27.6M | ||
| Q3 24 | $229.3M | $53.7M | ||
| Q2 24 | $143.6M | $50.2M |
自由现金流ATRSTEP
| Q1 26 | $53.3M | — | ||
| Q4 25 | $96.9M | $26.7M | ||
| Q3 25 | $114.3M | $15.9M | ||
| Q2 25 | $62.5M | $45.2M | ||
| Q1 25 | $25.9M | $-69.2M | ||
| Q4 24 | $112.2M | $27.0M | ||
| Q3 24 | $162.7M | $52.4M | ||
| Q2 24 | $75.4M | $49.6M |
自由现金流率ATRSTEP
| Q1 26 | 5.4% | — | ||
| Q4 25 | 10.1% | 4.6% | ||
| Q3 25 | 11.9% | 3.5% | ||
| Q2 25 | 6.5% | 12.4% | ||
| Q1 25 | 2.9% | -18.3% | ||
| Q4 24 | 13.2% | 8.0% | ||
| Q3 24 | 17.9% | 19.3% | ||
| Q2 24 | 8.3% | 26.6% |
资本支出强度ATRSTEP
| Q1 26 | 6.7% | — | ||
| Q4 25 | 9.0% | 0.1% | ||
| Q3 25 | 6.6% | 0.1% | ||
| Q2 25 | 6.6% | 0.3% | ||
| Q1 25 | 6.4% | 0.7% | ||
| Q4 24 | 7.8% | 0.2% | ||
| Q3 24 | 7.3% | 0.5% | ||
| Q2 24 | 7.5% | 0.3% |
现金转化率ATRSTEP
| Q1 26 | — | — | ||
| Q4 25 | 2.47× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.13× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 2.29× | 3.05× | ||
| Q2 24 | 1.59× | 3.76× |
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
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
