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AeroVironment Inc（AVAV）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
罗塞塔石碑的季度营收约是AeroVironment Inc的1.2倍（$586.5M vs $472.5M），AeroVironment Inc净利率更高（-3.6% vs -21.0%，领先17.4%），AeroVironment Inc同比增速更快（181.9% vs 73.0%），罗塞塔石碑自由现金流更多（$26.7M vs $-55.9M），过去两年AeroVironment Inc的营收复合增速更高（59.1% vs 28.2%）
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。
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。
AVAV vs STEP — 直观对比
营收规模更大
STEP
是对方的1.2倍
$472.5M
营收增速更快
AVAV
高出108.9%
73.0%
净利率更高
AVAV
高出17.4%
-21.0%
自由现金流更多
STEP
多$82.6M
$-55.9M
两年增速更快
AVAV
近两年复合增速
28.2%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $472.5M | $586.5M |
| 净利润 | $-17.1M | $-123.5M |
| 毛利率 | 22.0% | — |
| 营业利润率 | -6.4% | -33.2% |
| 净利率 | -3.6% | -21.0% |
| 营收同比 | 181.9% | 73.0% |
| 净利润同比 | -875.1% | 35.7% |
| 每股收益（稀释后） | $-0.34 | $-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AVAVSTEP
| Q4 25 | $472.5M | $586.5M | ||
| Q3 25 | $454.7M | $454.2M | ||
| Q2 25 | $275.1M | $364.3M | ||
| Q1 25 | $167.6M | $377.7M | ||
| Q4 24 | $188.5M | $339.0M | ||
| Q3 24 | $189.5M | $271.7M | ||
| Q2 24 | $197.0M | $186.4M | ||
| Q1 24 | $186.6M | $356.8M |
净利润AVAVSTEP
| Q4 25 | $-17.1M | $-123.5M | ||
| Q3 25 | $-67.4M | $-366.1M | ||
| Q2 25 | $16.7M | $-38.4M | ||
| Q1 25 | $-1.8M | $-18.5M | ||
| Q4 24 | $7.5M | $-192.0M | ||
| Q3 24 | $21.2M | $17.6M | ||
| Q2 24 | $6.0M | $13.3M | ||
| Q1 24 | $13.9M | $30.8M |
毛利率AVAVSTEP
| Q4 25 | 22.0% | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 37.7% | — | ||
| Q4 24 | 39.1% | — | ||
| Q3 24 | 43.0% | — | ||
| Q2 24 | 38.4% | — | ||
| Q1 24 | 36.1% | — |
营业利润率AVAVSTEP
| Q4 25 | -6.4% | -33.2% | ||
| Q3 25 | -15.2% | -148.8% | ||
| Q2 25 | 5.0% | -5.6% | ||
| Q1 25 | -1.8% | 2.6% | ||
| Q4 24 | 3.7% | -101.7% | ||
| Q3 24 | 12.2% | 21.3% | ||
| Q2 24 | 3.0% | 29.4% | ||
| Q1 24 | 7.7% | 26.5% |
净利率AVAVSTEP
| Q4 25 | -3.6% | -21.0% | ||
| Q3 25 | -14.8% | -80.6% | ||
| Q2 25 | 6.1% | -10.5% | ||
| Q1 25 | -1.0% | -4.9% | ||
| Q4 24 | 4.0% | -56.6% | ||
| Q3 24 | 11.2% | 6.5% | ||
| Q2 24 | 3.1% | 7.2% | ||
| Q1 24 | 7.4% | 8.6% |
每股收益（稀释后）AVAVSTEP
| Q4 25 | $-0.34 | $-1.55 | ||
| Q3 25 | $-1.44 | $-4.66 | ||
| Q2 25 | $0.59 | $-0.49 | ||
| Q1 25 | $-0.06 | $-0.37 | ||
| Q4 24 | $0.27 | $-2.61 | ||
| Q3 24 | $0.75 | $0.26 | ||
| Q2 24 | $0.18 | $0.20 | ||
| Q1 24 | $0.50 | $0.47 |
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 | — |
| 总债务越低越好 | $747.5M | $270.2M |
| 股东权益账面价值 | $4.4B | $-378.8M |
| 总资产 | $5.6B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.17× | — |
8季度趋势，按日历期对齐
现金及短期投资AVAVSTEP
| Q4 25 | $588.5M | — | ||
| Q3 25 | $685.8M | — | ||
| Q2 25 | $40.9M | — | ||
| Q1 25 | $47.0M | — | ||
| Q4 24 | $69.0M | — | ||
| Q3 24 | $81.2M | — | ||
| Q2 24 | $73.3M | — | ||
| Q1 24 | $107.7M | — |
总债务AVAVSTEP
| Q4 25 | $747.5M | $270.2M | ||
| Q3 25 | $747.5M | $269.9M | ||
| Q2 25 | $30.0M | $269.6M | ||
| Q1 25 | $25.0M | $269.3M | ||
| Q4 24 | $15.0M | $168.9M | ||
| Q3 24 | $17.5M | $172.3M | ||
| Q2 24 | $28.0M | $172.1M | ||
| Q1 24 | $40.0M | $148.8M |
股东权益AVAVSTEP
| Q4 25 | $4.4B | $-378.8M | ||
| Q3 25 | $4.4B | $-233.5M | ||
| Q2 25 | $886.5M | $153.9M | ||
| Q1 25 | $861.1M | $179.4M | ||
| Q4 24 | $858.4M | $209.8M | ||
| Q3 24 | $845.5M | $397.5M | ||
| Q2 24 | $822.7M | $366.9M | ||
| Q1 24 | $813.0M | $324.5M |
总资产AVAVSTEP
| Q4 25 | $5.6B | $5.2B | ||
| Q3 25 | $5.6B | $5.3B | ||
| Q2 25 | $1.1B | $4.8B | ||
| Q1 25 | $1.0B | $4.6B | ||
| Q4 24 | $1.0B | $4.3B | ||
| Q3 24 | $999.2M | $4.0B | ||
| Q2 24 | $1.0B | $3.8B | ||
| Q1 24 | $980.3M | $3.8B |
负债/权益比AVAVSTEP
| Q4 25 | 0.17× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.03× | 1.75× | ||
| Q1 25 | 0.03× | 1.50× | ||
| Q4 24 | 0.02× | 0.81× | ||
| Q3 24 | 0.02× | 0.43× | ||
| Q2 24 | 0.03× | 0.47× | ||
| Q1 24 | 0.05× | 0.46× |
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 | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $-55.9M | $26.7M |
| 自由现金流率自由现金流/营收 | -11.8% | 4.6% |
| 资本支出强度资本支出/营收 | 2.3% | 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 | $-240.7M | $18.6M |
8季度趋势，按日历期对齐
经营现金流AVAVSTEP
| Q4 25 | $-45.1M | $27.2M | ||
| Q3 25 | $-123.7M | $16.2M | ||
| Q2 25 | $-264.0K | $46.3M | ||
| Q1 25 | $-25.8M | $-66.5M | ||
| Q4 24 | $-3.6M | $27.6M | ||
| Q3 24 | $28.4M | $53.7M | ||
| Q2 24 | $-11.7M | $50.2M | ||
| Q1 24 | $52.6M | $7.6M |
自由现金流AVAVSTEP
| Q4 25 | $-55.9M | $26.7M | ||
| Q3 25 | $-146.5M | $15.9M | ||
| Q2 25 | $-8.8M | $45.2M | ||
| Q1 25 | $-29.6M | $-69.2M | ||
| Q4 24 | $-8.7M | $27.0M | ||
| Q3 24 | $22.9M | $52.4M | ||
| Q2 24 | $-20.8M | $49.6M | ||
| Q1 24 | $48.8M | $6.7M |
自由现金流率AVAVSTEP
| Q4 25 | -11.8% | 4.6% | ||
| Q3 25 | -32.2% | 3.5% | ||
| Q2 25 | -3.2% | 12.4% | ||
| Q1 25 | -17.7% | -18.3% | ||
| Q4 24 | -4.6% | 8.0% | ||
| Q3 24 | 12.1% | 19.3% | ||
| Q2 24 | -10.5% | 26.6% | ||
| Q1 24 | 26.1% | 1.9% |
资本支出强度AVAVSTEP
| Q4 25 | 2.3% | 0.1% | ||
| Q3 25 | 5.0% | 0.1% | ||
| Q2 25 | 3.1% | 0.3% | ||
| Q1 25 | 2.3% | 0.7% | ||
| Q4 24 | 2.7% | 0.2% | ||
| Q3 24 | 2.9% | 0.5% | ||
| Q2 24 | 4.6% | 0.3% | ||
| Q1 24 | 2.0% | 0.3% |
现金转化率AVAVSTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.02× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.48× | — | ||
| Q3 24 | 1.34× | 3.05× | ||
| Q2 24 | -1.93× | 3.76× | ||
| Q1 24 | 3.79× | 0.25× |
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% |
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% |
