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ASTRONICS CORP（ATRO）与BLACKBAUD INC（BLKB）财务数据对比。点击上方公司名可切换其他公司
BLACKBAUD INC的季度营收约是ASTRONICS CORP的1.2倍（$295.3M vs $240.1M），ASTRONICS CORP同比增速更快（15.1% vs -2.3%），BLACKBAUD INC自由现金流更多（$55.0M vs $15.8M），过去两年ASTRONICS CORP的营收复合增速更高（13.9% vs 3.0%）
Astronics Corporation是一家成立于1968年的美国航空航天电子企业，总部位于纽约州东奥罗拉，在纳斯达克上市，股票代码为ATRO。该公司专注于军用、商用及公务机的照明与电子系统集成业务，同时还提供半导体测试系统，在相关领域拥有较高知名度。
Blackbaud是全球知名的云服务提供商，专注为非营利组织、基金会、企业、教育机构、医疗机构、宗教团体及个人公益推动者提供技术支持，旗下产品覆盖筹款、网站管理、客户关系管理、数据分析、财务管理、票务系统、教育管理等多元场景。
ATRO vs BLKB — 直观对比
营收规模更大
BLKB
是对方的1.2倍
$240.1M
营收增速更快
ATRO
高出17.4%
-2.3%
自由现金流更多
BLKB
多$39.2M
$15.8M
两年增速更快
ATRO
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $240.1M | $295.3M |
| 净利润 | — | $36.7M |
| 毛利率 | 33.3% | 58.3% |
| 营业利润率 | 14.8% | 20.0% |
| 净利率 | — | 12.4% |
| 营收同比 | 15.1% | -2.3% |
| 净利润同比 | — | 110.6% |
| 每股收益（稀释后） | $0.82 | $0.75 |
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ATROBLKB
| Q4 25 | $240.1M | $295.3M | ||
| Q3 25 | $211.4M | $281.1M | ||
| Q2 25 | $204.7M | $282.0M | ||
| Q1 25 | $205.9M | $269.9M | ||
| Q4 24 | $208.5M | $302.1M | ||
| Q3 24 | $203.7M | $286.6M | ||
| Q2 24 | $198.1M | $287.3M | ||
| Q1 24 | $185.1M | $278.6M |
净利润ATROBLKB
| Q4 25 | — | $36.7M | ||
| Q3 25 | $-11.1M | $47.5M | ||
| Q2 25 | $1.3M | $26.5M | ||
| Q1 25 | $9.5M | $4.3M | ||
| Q4 24 | — | $-346.4M | ||
| Q3 24 | $-11.7M | $18.3M | ||
| Q2 24 | $1.5M | $21.2M | ||
| Q1 24 | $-3.2M | $7.3M |
毛利率ATROBLKB
| Q4 25 | 33.3% | 58.3% | ||
| Q3 25 | 30.5% | 59.6% | ||
| Q2 25 | 25.8% | 59.7% | ||
| Q1 25 | 29.5% | 57.5% | ||
| Q4 24 | 29.8% | 53.8% | ||
| Q3 24 | 27.1% | 54.9% | ||
| Q2 24 | 28.0% | 56.0% | ||
| Q1 24 | 25.7% | 54.1% |
营业利润率ATROBLKB
| Q4 25 | 14.8% | 20.0% | ||
| Q3 25 | 10.9% | 19.4% | ||
| Q2 25 | 2.3% | 20.3% | ||
| Q1 25 | 6.4% | 7.3% | ||
| Q4 24 | 4.3% | -121.5% | ||
| Q3 24 | 4.1% | 14.4% | ||
| Q2 24 | 3.8% | 14.4% | ||
| Q1 24 | 0.9% | 4.8% |
净利率ATROBLKB
| Q4 25 | — | 12.4% | ||
| Q3 25 | -5.2% | 16.9% | ||
| Q2 25 | 0.6% | 9.4% | ||
| Q1 25 | 4.6% | 1.6% | ||
| Q4 24 | — | -114.6% | ||
| Q3 24 | -5.8% | 6.4% | ||
| Q2 24 | 0.8% | 7.4% | ||
| Q1 24 | -1.7% | 2.6% |
每股收益（稀释后）ATROBLKB
| Q4 25 | $0.82 | $0.75 | ||
| Q3 25 | $-0.31 | $0.98 | ||
| Q2 25 | $0.04 | $0.55 | ||
| Q1 25 | $0.26 | $0.09 | ||
| Q4 24 | $-0.07 | $-6.82 | ||
| Q3 24 | $-0.34 | $0.35 | ||
| Q2 24 | $0.04 | $0.41 | ||
| Q1 24 | $-0.09 | $0.14 |
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 | $18.2M | $38.9M |
| 总债务越低越好 | — | $1.1B |
| 股东权益账面价值 | $140.1M | $85.1M |
| 总资产 | $706.7M | $2.4B |
| 负债/权益比越低杠杆越低 | — | 13.06× |
8季度趋势，按日历期对齐
现金及短期投资ATROBLKB
| Q4 25 | $18.2M | $38.9M | ||
| Q3 25 | $13.5M | $38.3M | ||
| Q2 25 | $13.5M | $41.6M | ||
| Q1 25 | $24.8M | $37.2M | ||
| Q4 24 | $9.3M | $67.6M | ||
| Q3 24 | $5.2M | $34.6M | ||
| Q2 24 | $2.9M | $30.4M | ||
| Q1 24 | $5.3M | $26.4M |
总债务ATROBLKB
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | — |
股东权益ATROBLKB
| Q4 25 | $140.1M | $85.1M | ||
| Q3 25 | $108.9M | $108.2M | ||
| Q2 25 | $271.6M | $72.7M | ||
| Q1 25 | $266.8M | $17.5M | ||
| Q4 24 | $256.1M | $126.8M | ||
| Q3 24 | $249.2M | $544.8M | ||
| Q2 24 | $257.9M | $577.5M | ||
| Q1 24 | $251.7M | $534.0M |
总资产ATROBLKB
| Q4 25 | $706.7M | $2.4B | ||
| Q3 25 | $682.2M | $2.1B | ||
| Q2 25 | $646.7M | $2.6B | ||
| Q1 25 | $662.2M | $2.1B | ||
| Q4 24 | $648.8M | $2.5B | ||
| Q3 24 | $651.6M | $2.6B | ||
| Q2 24 | $644.9M | $3.0B | ||
| Q1 24 | $630.0M | $2.5B |
负债/权益比ATROBLKB
| Q4 25 | — | 13.06× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 8.50× | ||
| Q3 24 | — | 1.84× | ||
| Q2 24 | — | 1.78× | ||
| Q1 24 | — | — |
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 | $27.6M | $58.0M |
| 自由现金流经营现金流 - 资本支出 | $15.8M | $55.0M |
| 自由现金流率自由现金流/营收 | 6.6% | 18.6% |
| 资本支出强度资本支出/营收 | 4.9% | 1.0% |
| 现金转化率经营现金流/净利润 | — | 1.58× |
| 过去12个月自由现金流最近4个季度 | $43.1M | $257.8M |
8季度趋势，按日历期对齐
经营现金流ATROBLKB
| Q4 25 | $27.6M | $58.0M | ||
| Q3 25 | $34.2M | $139.2M | ||
| Q2 25 | $-7.6M | $66.9M | ||
| Q1 25 | $20.6M | $1.4M | ||
| Q4 24 | $26.4M | $73.6M | ||
| Q3 24 | $8.4M | $104.0M | ||
| Q2 24 | $-6.3M | $53.1M | ||
| Q1 24 | $2.0M | $65.3M |
自由现金流ATROBLKB
| Q4 25 | $15.8M | $55.0M | ||
| Q3 25 | $21.0M | $135.7M | ||
| Q2 25 | $-12.2M | $66.3M | ||
| Q1 25 | $18.5M | $712.0K | ||
| Q4 24 | $23.2M | $73.4M | ||
| Q3 24 | $6.5M | $102.9M | ||
| Q2 24 | $-8.1M | $48.0M | ||
| Q1 24 | $439.0K | $64.3M |
自由现金流率ATROBLKB
| Q4 25 | 6.6% | 18.6% | ||
| Q3 25 | 9.9% | 48.3% | ||
| Q2 25 | -6.0% | 23.5% | ||
| Q1 25 | 9.0% | 0.3% | ||
| Q4 24 | 11.1% | 24.3% | ||
| Q3 24 | 3.2% | 35.9% | ||
| Q2 24 | -4.1% | 16.7% | ||
| Q1 24 | 0.2% | 23.1% |
资本支出强度ATROBLKB
| Q4 25 | 4.9% | 1.0% | ||
| Q3 25 | 6.2% | 1.2% | ||
| Q2 25 | 2.2% | 0.2% | ||
| Q1 25 | 1.0% | 0.3% | ||
| Q4 24 | 1.5% | 0.1% | ||
| Q3 24 | 0.9% | 0.4% | ||
| Q2 24 | 0.9% | 1.8% | ||
| Q1 24 | 0.9% | 0.4% |
现金转化率ATROBLKB
| Q4 25 | — | 1.58× | ||
| Q3 25 | — | 2.93× | ||
| Q2 25 | -5.81× | 2.53× | ||
| Q1 25 | 2.17× | 0.32× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.69× | ||
| Q2 24 | -4.08× | 2.50× | ||
| Q1 24 | — | 8.94× |
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
ATRO
| Product Line Electrical Power And Motion | $113.8M | 47% |
| Product Line Avionics | $32.0M | 13% |
| Military Aircraft | $28.0M | 12% |
| General Aviation | $22.3M | 9% |
| Government And Defense | $20.5M | 9% |
| Product Line Systems Certification | $13.2M | 6% |
| Product Line Structures | $3.7M | 2% |
| Product Line Other | $2.3M | 1% |
BLKB
| Contractual Recurring | $182.7M | 62% |
| Transactional Recurring | $108.0M | 37% |
| One Time Services And Other | $4.5M | 2% |
