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AeroVironment Inc（AVAV）与MSA Safety Inc（MSA）财务数据对比。点击上方公司名可切换其他公司
MSA Safety Inc的季度营收约是AeroVironment Inc的1.1倍（$510.9M vs $472.5M），MSA Safety Inc净利率更高（17.0% vs -3.6%，领先20.6%），AeroVironment Inc同比增速更快（181.9% vs 2.2%），MSA Safety Inc自由现金流更多（$106.0M vs $-55.9M），过去两年AeroVironment Inc的营收复合增速更高（59.1% vs 11.2%）
AeroVironment是1971年由人力飞机设计师保罗·麦克里迪创立的美国国防科技企业，总部位于弗吉尼亚州阿灵顿，专注于自主系统、反无人机系统及航天系统的研发制造，为美国国防部及多国军方供应渡鸦、弹簧刀、黄蜂、美洲狮等系列中小型无人机产品。
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
AVAV vs MSA — 直观对比
营收规模更大
MSA
是对方的1.1倍
$472.5M
营收增速更快
AVAV
高出179.6%
2.2%
净利率更高
MSA
高出20.6%
-3.6%
自由现金流更多
MSA
多$161.9M
$-55.9M
两年增速更快
AVAV
近两年复合增速
11.2%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $472.5M | $510.9M |
| 净利润 | $-17.1M | $86.9M |
| 毛利率 | 22.0% | 46.9% |
| 营业利润率 | -6.4% | 22.3% |
| 净利率 | -3.6% | 17.0% |
| 营收同比 | 181.9% | 2.2% |
| 净利润同比 | -875.1% | -1.2% |
| 每股收益（稀释后） | $-0.34 | $2.22 |
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AVAVMSA
| Q4 25 | $472.5M | $510.9M | ||
| Q3 25 | $454.7M | $468.4M | ||
| Q2 25 | $275.1M | $474.1M | ||
| Q1 25 | $167.6M | $421.3M | ||
| Q4 24 | $188.5M | $499.7M | ||
| Q3 24 | $189.5M | $432.7M | ||
| Q2 24 | $197.0M | $462.5M | ||
| Q1 24 | $186.6M | $413.3M |
净利润AVAVMSA
| Q4 25 | $-17.1M | $86.9M | ||
| Q3 25 | $-67.4M | $69.6M | ||
| Q2 25 | $16.7M | $62.8M | ||
| Q1 25 | $-1.8M | $59.6M | ||
| Q4 24 | $7.5M | $87.9M | ||
| Q3 24 | $21.2M | $66.6M | ||
| Q2 24 | $6.0M | $72.2M | ||
| Q1 24 | $13.9M | $58.1M |
毛利率AVAVMSA
| Q4 25 | 22.0% | 46.9% | ||
| Q3 25 | 20.9% | 46.5% | ||
| Q2 25 | 36.5% | 46.6% | ||
| Q1 25 | 37.7% | 45.9% | ||
| Q4 24 | 39.1% | 46.9% | ||
| Q3 24 | 43.0% | 47.9% | ||
| Q2 24 | 38.4% | 48.2% | ||
| Q1 24 | 36.1% | 47.3% |
营业利润率AVAVMSA
| Q4 25 | -6.4% | 22.3% | ||
| Q3 25 | -15.2% | 20.1% | ||
| Q2 25 | 5.0% | 18.1% | ||
| Q1 25 | -1.8% | 18.5% | ||
| Q4 24 | 3.7% | 23.5% | ||
| Q3 24 | 12.2% | 21.1% | ||
| Q2 24 | 3.0% | 21.6% | ||
| Q1 24 | 7.7% | 19.4% |
净利率AVAVMSA
| Q4 25 | -3.6% | 17.0% | ||
| Q3 25 | -14.8% | 14.9% | ||
| Q2 25 | 6.1% | 13.2% | ||
| Q1 25 | -1.0% | 14.1% | ||
| Q4 24 | 4.0% | 17.6% | ||
| Q3 24 | 11.2% | 15.4% | ||
| Q2 24 | 3.1% | 15.6% | ||
| Q1 24 | 7.4% | 14.1% |
每股收益（稀释后）AVAVMSA
| Q4 25 | $-0.34 | $2.22 | ||
| Q3 25 | $-1.44 | $1.77 | ||
| Q2 25 | $0.59 | $1.59 | ||
| Q1 25 | $-0.06 | $1.51 | ||
| Q4 24 | $0.27 | $2.22 | ||
| Q3 24 | $0.75 | $1.69 | ||
| Q2 24 | $0.18 | $1.83 | ||
| Q1 24 | $0.50 | $1.47 |
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 | $588.5M | $165.1M |
| 总债务越低越好 | $747.5M | $580.9M |
| 股东权益账面价值 | $4.4B | $1.4B |
| 总资产 | $5.6B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.17× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资AVAVMSA
| Q4 25 | $588.5M | $165.1M | ||
| Q3 25 | $685.8M | $170.0M | ||
| Q2 25 | $40.9M | $147.0M | ||
| Q1 25 | $47.0M | $170.6M | ||
| Q4 24 | $69.0M | $164.6M | ||
| Q3 24 | $81.2M | $154.4M | ||
| Q2 24 | $73.3M | $146.8M | ||
| Q1 24 | $107.7M | $148.3M |
总债务AVAVMSA
| Q4 25 | $747.5M | $580.9M | ||
| Q3 25 | $747.5M | $628.6M | ||
| Q2 25 | $30.0M | $679.3M | ||
| Q1 25 | $25.0M | $502.1M | ||
| Q4 24 | $15.0M | $508.0M | ||
| Q3 24 | $17.5M | $554.7M | ||
| Q2 24 | $28.0M | $588.2M | ||
| Q1 24 | $40.0M | $596.2M |
股东权益AVAVMSA
| Q4 25 | $4.4B | $1.4B | ||
| Q3 25 | $4.4B | $1.3B | ||
| Q2 25 | $886.5M | $1.3B | ||
| Q1 25 | $861.1M | $1.2B | ||
| Q4 24 | $858.4M | $1.1B | ||
| Q3 24 | $845.5M | $1.1B | ||
| Q2 24 | $822.7M | $1.0B | ||
| Q1 24 | $813.0M | $994.8M |
总资产AVAVMSA
| Q4 25 | $5.6B | $2.6B | ||
| Q3 25 | $5.6B | $2.6B | ||
| Q2 25 | $1.1B | $2.6B | ||
| Q1 25 | $1.0B | $2.2B | ||
| Q4 24 | $1.0B | $2.2B | ||
| Q3 24 | $999.2M | $2.2B | ||
| Q2 24 | $1.0B | $2.2B | ||
| Q1 24 | $980.3M | $2.2B |
负债/权益比AVAVMSA
| Q4 25 | 0.17× | 0.42× | ||
| Q3 25 | 0.17× | 0.48× | ||
| Q2 25 | 0.03× | 0.54× | ||
| Q1 25 | 0.03× | 0.42× | ||
| Q4 24 | 0.02× | 0.44× | ||
| Q3 24 | 0.02× | 0.51× | ||
| Q2 24 | 0.03× | 0.57× | ||
| Q1 24 | 0.05× | 0.60× |
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 | $-45.1M | $122.4M |
| 自由现金流经营现金流 - 资本支出 | $-55.9M | $106.0M |
| 自由现金流率自由现金流/营收 | -11.8% | 20.8% |
| 资本支出强度资本支出/营收 | 2.3% | 3.2% |
| 现金转化率经营现金流/净利润 | — | 1.41× |
| 过去12个月自由现金流最近4个季度 | $-240.7M | $295.4M |
8季度趋势，按日历期对齐
经营现金流AVAVMSA
| Q4 25 | $-45.1M | $122.4M | ||
| Q3 25 | $-123.7M | $112.5M | ||
| Q2 25 | $-264.0K | $67.2M | ||
| Q1 25 | $-25.8M | $61.8M | ||
| Q4 24 | $-3.6M | $107.9M | ||
| Q3 24 | $28.4M | $84.3M | ||
| Q2 24 | $-11.7M | $53.3M | ||
| Q1 24 | $52.6M | $50.9M |
自由现金流AVAVMSA
| Q4 25 | $-55.9M | $106.0M | ||
| Q3 25 | $-146.5M | $100.5M | ||
| Q2 25 | $-8.8M | $37.9M | ||
| Q1 25 | $-29.6M | $51.0M | ||
| Q4 24 | $-8.7M | $93.5M | ||
| Q3 24 | $22.9M | $70.1M | ||
| Q2 24 | $-20.8M | $39.0M | ||
| Q1 24 | $48.8M | $39.7M |
自由现金流率AVAVMSA
| Q4 25 | -11.8% | 20.8% | ||
| Q3 25 | -32.2% | 21.4% | ||
| Q2 25 | -3.2% | 8.0% | ||
| Q1 25 | -17.7% | 12.1% | ||
| Q4 24 | -4.6% | 18.7% | ||
| Q3 24 | 12.1% | 16.2% | ||
| Q2 24 | -10.5% | 8.4% | ||
| Q1 24 | 26.1% | 9.6% |
资本支出强度AVAVMSA
| Q4 25 | 2.3% | 3.2% | ||
| Q3 25 | 5.0% | 2.6% | ||
| Q2 25 | 3.1% | 6.2% | ||
| Q1 25 | 2.3% | 2.6% | ||
| Q4 24 | 2.7% | 2.9% | ||
| Q3 24 | 2.9% | 3.3% | ||
| Q2 24 | 4.6% | 3.1% | ||
| Q1 24 | 2.0% | 2.7% |
现金转化率AVAVMSA
| Q4 25 | — | 1.41× | ||
| Q3 25 | — | 1.62× | ||
| Q2 25 | -0.02× | 1.07× | ||
| Q1 25 | — | 1.04× | ||
| Q4 24 | -0.48× | 1.23× | ||
| Q3 24 | 1.34× | 1.27× | ||
| Q2 24 | -1.93× | 0.74× | ||
| Q1 24 | 3.79× | 0.88× |
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
AVAV
| Services | $130.2M | 28% |
| Cost Plus | $95.8M | 20% |
| Uncrewed Aircraft Systems | $89.8M | 19% |
| Space And Directed Energy | $53.2M | 11% |
| Non U.s.Government | $42.2M | 9% |
| TM | $31.9M | 7% |
| Other | $30.7M | 7% |
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
