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AZZ INC（AZZ）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
AZZ INC的季度营收约是INNOVATE Corp.的1.0倍（$385.1M vs $382.7M），AZZ INC净利率更高（4.1% vs -1.9%，领先6.1%），INNOVATE Corp.同比增速更快（61.7% vs -75.6%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% vs -3.5%）
AZZ公司是全球领先的金属防护解决方案供应商，主营热浸镀锌、表面涂层处理服务及特种电气、工业零部件，主要服务于北美及其他核心国际市场的建筑、能源、基建、制造等下游领域。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
AZZ vs VATE — 直观对比
营收规模更大
AZZ
是对方的1.0倍
$382.7M
营收增速更快
VATE
高出137.3%
-75.6%
净利率更高
AZZ
高出6.1%
-1.9%
两年增速更快
VATE
近两年复合增速
-3.5%
损益表 — Q4 FY2027 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $385.1M | $382.7M |
| 净利润 | $15.9M | $-7.4M |
| 毛利率 | 22.7% | 15.4% |
| 营业利润率 | 14.8% | 3.7% |
| 净利率 | 4.1% | -1.9% |
| 营收同比 | -75.6% | 61.7% |
| 净利润同比 | -21.2% | 55.4% |
| 每股收益（稀释后） | $0.53 | $-0.57 |
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AZZVATE
| Q4 26 | $385.1M | — | ||
| Q4 25 | $425.7M | $382.7M | ||
| Q3 25 | $417.3M | $347.1M | ||
| Q2 25 | $422.0M | $242.0M | ||
| Q1 25 | $351.9M | $274.2M | ||
| Q4 24 | $403.7M | $236.6M | ||
| Q3 24 | $409.0M | $242.2M | ||
| Q2 24 | $413.2M | $313.1M |
净利润AZZVATE
| Q4 26 | $15.9M | — | ||
| Q4 25 | $41.1M | $-7.4M | ||
| Q3 25 | $89.3M | $-8.9M | ||
| Q2 25 | $170.9M | $-19.8M | ||
| Q1 25 | $20.2M | $-24.5M | ||
| Q4 24 | $33.6M | $-16.6M | ||
| Q3 24 | $35.4M | $-15.0M | ||
| Q2 24 | $39.6M | $14.4M |
毛利率AZZVATE
| Q4 26 | 22.7% | — | ||
| Q4 25 | 23.9% | 15.4% | ||
| Q3 25 | 24.3% | 14.3% | ||
| Q2 25 | 24.7% | 18.8% | ||
| Q1 25 | 22.4% | 16.6% | ||
| Q4 24 | 24.2% | 19.6% | ||
| Q3 24 | 25.3% | 19.9% | ||
| Q2 24 | 24.8% | 21.0% |
营业利润率AZZVATE
| Q4 26 | 14.8% | — | ||
| Q4 25 | 16.3% | 3.7% | ||
| Q3 25 | 16.4% | 1.8% | ||
| Q2 25 | 16.5% | 2.0% | ||
| Q1 25 | 11.5% | 1.2% | ||
| Q4 24 | 14.5% | 1.1% | ||
| Q3 24 | 16.5% | 2.4% | ||
| Q2 24 | 16.9% | 9.2% |
净利率AZZVATE
| Q4 26 | 4.1% | — | ||
| Q4 25 | 9.6% | -1.9% | ||
| Q3 25 | 21.4% | -2.6% | ||
| Q2 25 | 40.5% | -8.2% | ||
| Q1 25 | 5.7% | -8.9% | ||
| Q4 24 | 8.3% | -7.0% | ||
| Q3 24 | 8.7% | -6.2% | ||
| Q2 24 | 9.6% | 4.6% |
每股收益（稀释后）AZZVATE
| Q4 26 | $0.53 | — | ||
| Q4 25 | $1.36 | $-0.57 | ||
| Q3 25 | $2.95 | $-0.71 | ||
| Q2 25 | $5.66 | $-1.67 | ||
| Q1 25 | $0.87 | $-1.89 | ||
| Q4 24 | $1.12 | $-0.72 | ||
| Q3 24 | $1.18 | $-1.18 | ||
| Q2 24 | $-1.38 | $1.03 |
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 | — | $112.1M |
| 总债务越低越好 | — | $80.3M |
| 股东权益账面价值 | $1.3B | $-240.1M |
| 总资产 | $2.2B | $950.1M |
| 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AZZVATE
| Q4 26 | — | — | ||
| Q4 25 | $623.0K | $112.1M | ||
| Q3 25 | $897.0K | $35.5M | ||
| Q2 25 | $3.0M | $33.4M | ||
| Q1 25 | $1.5M | $33.3M | ||
| Q4 24 | $1.5M | $48.8M | ||
| Q3 24 | $2.2M | $51.0M | ||
| Q2 24 | $10.5M | $80.2M |
总债务AZZVATE
| Q4 26 | — | — | ||
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M |
股东权益AZZVATE
| Q4 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $-240.1M | ||
| Q3 25 | $1.3B | $-233.3M | ||
| Q2 25 | $1.2B | $-224.8M | ||
| Q1 25 | $1.0B | $-204.2M | ||
| Q4 24 | $1.0B | $-180.4M | ||
| Q3 24 | $999.8M | $-163.1M | ||
| Q2 24 | $967.2M | $-149.0M |
总资产AZZVATE
| Q4 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $950.1M | ||
| Q3 25 | $2.2B | $913.2M | ||
| Q2 25 | $2.2B | $890.9M | ||
| Q1 25 | $2.2B | $868.0M | ||
| Q4 24 | $2.2B | $891.1M | ||
| Q3 24 | $2.2B | $897.2M | ||
| Q2 24 | $2.2B | $898.9M |
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 | $525.4M | $101.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 32.98× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AZZVATE
| Q4 26 | $525.4M | — | ||
| Q4 25 | $79.7M | $101.1M | ||
| Q3 25 | $58.4M | $19.2M | ||
| Q2 25 | $314.8M | $40.4M | ||
| Q1 25 | — | $-14.1M | ||
| Q4 24 | $66.2M | $41.4M | ||
| Q3 24 | $47.5M | $-28.4M | ||
| Q2 24 | $71.9M | $21.5M |
自由现金流AZZVATE
| Q4 26 | — | — | ||
| Q4 25 | $61.2M | — | ||
| Q3 25 | $39.1M | $19.0M | ||
| Q2 25 | $293.9M | — | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | $39.7M | $34.2M | ||
| Q3 24 | $15.4M | $-31.5M | ||
| Q2 24 | $44.5M | $18.4M |
自由现金流率AZZVATE
| Q4 26 | — | — | ||
| Q4 25 | 14.4% | — | ||
| Q3 25 | 9.4% | 5.5% | ||
| Q2 25 | 69.6% | — | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | 9.8% | 14.5% | ||
| Q3 24 | 3.8% | -13.0% | ||
| Q2 24 | 10.8% | 5.9% |
资本支出强度AZZVATE
| Q4 26 | — | — | ||
| Q4 25 | 4.4% | — | ||
| Q3 25 | 4.6% | 0.1% | ||
| Q2 25 | 5.0% | — | ||
| Q1 25 | 8.5% | 1.7% | ||
| Q4 24 | 6.6% | 3.0% | ||
| Q3 24 | 7.8% | 1.3% | ||
| Q2 24 | 6.6% | 1.0% |
现金转化率AZZVATE
| Q4 26 | 32.98× | — | ||
| Q4 25 | 1.94× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.97× | — | ||
| Q3 24 | 1.34× | — | ||
| Q2 24 | 1.82× | 1.49× |
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
AZZ
| Precoat Metals | $203.5M | 53% |
| Metal Coatings | $186.5M | 48% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
