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ASTRONICS CORP（ATRO）与Karman Holdings Inc.（KRMN）财务数据对比。点击上方公司名可切换其他公司
ASTRONICS CORP的季度营收约是Karman Holdings Inc.的1.8倍（$240.1M vs $134.5M）。Karman Holdings Inc.同比增速更快（47.4% vs 15.1%）。ASTRONICS CORP自由现金流更多（$15.8M vs $4.0M）。过去两年Karman Holdings Inc.的营收复合增速更高（27.3% vs 13.9%）
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。
Karman Holdings是一家美国航天与防务系统制造商，总部位于加利福尼亚州亨廷顿海滩，当前估值约40亿美元，近期已完成首次公开发行，专注为航天及国防领域提供相关系统产品及配套服务。
ATRO vs KRMN — 直观对比
营收规模更大
ATRO
是对方的1.8倍
$134.5M
营收增速更快
KRMN
高出32.3%
15.1%
自由现金流更多
ATRO
多$11.8M
$4.0M
两年增速更快
KRMN
近两年复合增速
13.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $240.1M | $134.5M |
| 净利润 | — | $7.7M |
| 毛利率 | 33.3% | 39.9% |
| 营业利润率 | 14.8% | 15.7% |
| 净利率 | — | 5.7% |
| 营收同比 | 15.1% | 47.4% |
| 净利润同比 | — | 358.3% |
| 每股收益（稀释后） | $0.82 | $0.06 |
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ATROKRMN
| Q4 25 | $240.1M | $134.5M | ||
| Q3 25 | $211.4M | $121.8M | ||
| Q2 25 | $204.7M | $115.1M | ||
| Q1 25 | $205.9M | $100.1M | ||
| Q4 24 | $208.5M | $91.2M | ||
| Q3 24 | $203.7M | $86.0M | ||
| Q2 24 | $198.1M | $85.0M | ||
| Q1 24 | $185.1M | $83.0M |
净利润ATROKRMN
| Q4 25 | — | $7.7M | ||
| Q3 25 | $-11.1M | $7.6M | ||
| Q2 25 | $1.3M | $6.8M | ||
| Q1 25 | $9.5M | $-4.8M | ||
| Q4 24 | — | $1.7M | ||
| Q3 24 | $-11.7M | $4.3M | ||
| Q2 24 | $1.5M | $4.6M | ||
| Q1 24 | $-3.2M | $2.1M |
毛利率ATROKRMN
| Q4 25 | 33.3% | 39.9% | ||
| Q3 25 | 30.5% | 41.0% | ||
| Q2 25 | 25.8% | 40.9% | ||
| Q1 25 | 29.5% | 39.4% | ||
| Q4 24 | 29.8% | 38.1% | ||
| Q3 24 | 27.1% | 39.3% | ||
| Q2 24 | 28.0% | 40.7% | ||
| Q1 24 | 25.7% | 34.9% |
营业利润率ATROKRMN
| Q4 25 | 14.8% | 15.7% | ||
| Q3 25 | 10.9% | 17.9% | ||
| Q2 25 | 2.3% | 17.5% | ||
| Q1 25 | 6.4% | 10.0% | ||
| Q4 24 | 4.3% | 15.8% | ||
| Q3 24 | 4.1% | 20.2% | ||
| Q2 24 | 3.8% | 21.5% | ||
| Q1 24 | 0.9% | 16.3% |
净利率ATROKRMN
| Q4 25 | — | 5.7% | ||
| Q3 25 | -5.2% | 6.3% | ||
| Q2 25 | 0.6% | 5.9% | ||
| Q1 25 | 4.6% | -4.8% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | -5.8% | 5.0% | ||
| Q2 24 | 0.8% | 5.4% | ||
| Q1 24 | -1.7% | 2.6% |
每股收益（稀释后）ATROKRMN
| Q4 25 | $0.82 | $0.06 | ||
| Q3 25 | $-0.31 | $0.06 | ||
| Q2 25 | $0.04 | $0.05 | ||
| Q1 25 | $0.26 | $-0.04 | ||
| Q4 24 | $-0.07 | $0.01 | ||
| Q3 24 | $-0.34 | $0.03 | ||
| Q2 24 | $0.04 | $0.03 | ||
| Q1 24 | $-0.09 | $0.01 |
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 | $34.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $140.1M | $382.7M |
| 总资产 | $706.7M | $1.1B |
| 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ATROKRMN
| Q4 25 | $18.2M | $34.0M | ||
| Q3 25 | $13.5M | $18.7M | ||
| Q2 25 | $13.5M | $27.4M | ||
| Q1 25 | $24.8M | $113.7M | ||
| Q4 24 | $9.3M | $11.5M | ||
| Q3 24 | $5.2M | — | ||
| Q2 24 | $2.9M | — | ||
| Q1 24 | $5.3M | — |
股东权益ATROKRMN
| Q4 25 | $140.1M | $382.7M | ||
| Q3 25 | $108.9M | $369.1M | ||
| Q2 25 | $271.6M | $361.5M | ||
| Q1 25 | $266.8M | $348.9M | ||
| Q4 24 | $256.1M | $196.0M | ||
| Q3 24 | $249.2M | $194.1M | ||
| Q2 24 | $257.9M | $189.6M | ||
| Q1 24 | $251.7M | $184.8M |
总资产ATROKRMN
| Q4 25 | $706.7M | $1.1B | ||
| Q3 25 | $682.2M | $968.1M | ||
| Q2 25 | $646.7M | $953.9M | ||
| Q1 25 | $662.2M | $875.4M | ||
| Q4 24 | $648.8M | $774.0M | ||
| Q3 24 | $651.6M | — | ||
| Q2 24 | $644.9M | — | ||
| Q1 24 | $630.0M | — |
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 | $8.7M |
| 自由现金流经营现金流 - 资本支出 | $15.8M | $4.0M |
| 自由现金流率自由现金流/营收 | 6.6% | 3.0% |
| 资本支出强度资本支出/营收 | 4.9% | 3.5% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | $43.1M | $-42.5M |
8季度趋势，按日历期对齐
经营现金流ATROKRMN
| Q4 25 | $27.6M | $8.7M | ||
| Q3 25 | $34.2M | $131.0K | ||
| Q2 25 | $-7.6M | $-17.4M | ||
| Q1 25 | $20.6M | $-13.6M | ||
| Q4 24 | $26.4M | — | ||
| Q3 24 | $8.4M | — | ||
| Q2 24 | $-6.3M | — | ||
| Q1 24 | $2.0M | $3.1M |
自由现金流ATROKRMN
| Q4 25 | $15.8M | $4.0M | ||
| Q3 25 | $21.0M | $-6.8M | ||
| Q2 25 | $-12.2M | $-21.0M | ||
| Q1 25 | $18.5M | $-18.6M | ||
| Q4 24 | $23.2M | — | ||
| Q3 24 | $6.5M | — | ||
| Q2 24 | $-8.1M | — | ||
| Q1 24 | $439.0K | $1.5M |
自由现金流率ATROKRMN
| Q4 25 | 6.6% | 3.0% | ||
| Q3 25 | 9.9% | -5.6% | ||
| Q2 25 | -6.0% | -18.2% | ||
| Q1 25 | 9.0% | -18.6% | ||
| Q4 24 | 11.1% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | -4.1% | — | ||
| Q1 24 | 0.2% | 1.8% |
资本支出强度ATROKRMN
| Q4 25 | 4.9% | 3.5% | ||
| Q3 25 | 6.2% | 5.7% | ||
| Q2 25 | 2.2% | 3.2% | ||
| Q1 25 | 1.0% | 5.0% | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 0.9% | 1.9% |
现金转化率ATROKRMN
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | -5.81× | -2.55× | ||
| Q1 25 | 2.17× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.08× | — | ||
| Q1 24 | — | 1.45× |
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% |
KRMN
| Tactical Missile And Integrated Defense Systems | $50.5M | 38% |
| Hypersonic And Strategic Missile Defense | $48.4M | 36% |
| Space And Launch | $35.7M | 27% |
