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达尔科技（DIOD）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达尔科技的1.5倍（$586.5M vs $391.6M），达尔科技净利率更高（2.6% vs -21.0%，领先23.7%），罗塞塔石碑同比增速更快（73.0% vs 15.4%），罗塞塔石碑自由现金流更多（$26.7M vs $12.4M），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs 13.9%）
达尔科技是一家全球性半导体制造商，主营分立器件、模拟及混合信号半导体产品的设计、生产与销售，产品广泛应用于汽车、工业、消费电子、计算及通信基础设施等核心领域，服务全球各地客户。
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。
DIOD vs STEP — 直观对比
营收规模更大
STEP
是对方的1.5倍
$391.6M
营收增速更快
STEP
高出57.6%
15.4%
净利率更高
DIOD
高出23.7%
-21.0%
自由现金流更多
STEP
多$14.3M
$12.4M
两年增速更快
STEP
近两年复合增速
13.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $391.6M | $586.5M |
| 净利润 | $10.2M | $-123.5M |
| 毛利率 | 31.1% | — |
| 营业利润率 | 3.4% | -33.2% |
| 净利率 | 2.6% | -21.0% |
| 营收同比 | 15.4% | 73.0% |
| 净利润同比 | 23.8% | 35.7% |
| 每股收益（稀释后） | $0.23 | $-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DIODSTEP
| Q4 25 | $391.6M | $586.5M | ||
| Q3 25 | $392.2M | $454.2M | ||
| Q2 25 | $366.2M | $364.3M | ||
| Q1 25 | $332.1M | $377.7M | ||
| Q4 24 | $339.3M | $339.0M | ||
| Q3 24 | $350.1M | $271.7M | ||
| Q2 24 | $319.8M | $186.4M | ||
| Q1 24 | $302.0M | $356.8M |
净利润DIODSTEP
| Q4 25 | $10.2M | $-123.5M | ||
| Q3 25 | $14.3M | $-366.1M | ||
| Q2 25 | $46.1M | $-38.4M | ||
| Q1 25 | $-4.4M | $-18.5M | ||
| Q4 24 | $8.2M | $-192.0M | ||
| Q3 24 | $13.7M | $17.6M | ||
| Q2 24 | $8.0M | $13.3M | ||
| Q1 24 | $14.0M | $30.8M |
毛利率DIODSTEP
| Q4 25 | 31.1% | — | ||
| Q3 25 | 30.7% | — | ||
| Q2 25 | 31.5% | — | ||
| Q1 25 | 31.5% | — | ||
| Q4 24 | 32.7% | — | ||
| Q3 24 | 33.7% | — | ||
| Q2 24 | 33.6% | — | ||
| Q1 24 | 33.0% | — |
营业利润率DIODSTEP
| Q4 25 | 3.4% | -33.2% | ||
| Q3 25 | 3.0% | -148.8% | ||
| Q2 25 | 2.6% | -5.6% | ||
| Q1 25 | 0.4% | 2.6% | ||
| Q4 24 | 3.5% | -101.7% | ||
| Q3 24 | 6.2% | 21.3% | ||
| Q2 24 | 1.2% | 29.4% | ||
| Q1 24 | 4.3% | 26.5% |
净利率DIODSTEP
| Q4 25 | 2.6% | -21.0% | ||
| Q3 25 | 3.6% | -80.6% | ||
| Q2 25 | 12.6% | -10.5% | ||
| Q1 25 | -1.3% | -4.9% | ||
| Q4 24 | 2.4% | -56.6% | ||
| Q3 24 | 3.9% | 6.5% | ||
| Q2 24 | 2.5% | 7.2% | ||
| Q1 24 | 4.6% | 8.6% |
每股收益（稀释后）DIODSTEP
| Q4 25 | $0.23 | $-1.55 | ||
| Q3 25 | $0.31 | $-4.66 | ||
| Q2 25 | $0.99 | $-0.49 | ||
| Q1 25 | $-0.10 | $-0.37 | ||
| Q4 24 | $0.18 | $-2.61 | ||
| Q3 24 | $0.30 | $0.26 | ||
| Q2 24 | $0.17 | $0.20 | ||
| Q1 24 | $0.30 | $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 | $377.0M | — |
| 总债务越低越好 | $25.7M | $270.2M |
| 股东权益账面价值 | $1.9B | $-378.8M |
| 总资产 | $2.4B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.01× | — |
8季度趋势，按日历期对齐
现金及短期投资DIODSTEP
| Q4 25 | $377.0M | — | ||
| Q3 25 | $386.4M | — | ||
| Q2 25 | $327.3M | — | ||
| Q1 25 | $343.9M | — | ||
| Q4 24 | $316.1M | — | ||
| Q3 24 | $319.3M | — | ||
| Q2 24 | $273.9M | — | ||
| Q1 24 | $276.0M | — |
总债务DIODSTEP
| Q4 25 | $25.7M | $270.2M | ||
| Q3 25 | $24.9M | $269.9M | ||
| Q2 25 | $26.4M | $269.6M | ||
| Q1 25 | $20.5M | $269.3M | ||
| Q4 24 | $20.7M | $168.9M | ||
| Q3 24 | $22.2M | $172.3M | ||
| Q2 24 | $20.3M | $172.1M | ||
| Q1 24 | $20.9M | $148.8M |
股东权益DIODSTEP
| Q4 25 | $1.9B | $-378.8M | ||
| Q3 25 | $1.9B | $-233.5M | ||
| Q2 25 | $1.9B | $153.9M | ||
| Q1 25 | $1.8B | $179.4M | ||
| Q4 24 | $1.8B | $209.8M | ||
| Q3 24 | $1.8B | $397.5M | ||
| Q2 24 | $1.8B | $366.9M | ||
| Q1 24 | $1.7B | $324.5M |
总资产DIODSTEP
| Q4 25 | $2.4B | $5.2B | ||
| Q3 25 | $2.5B | $5.3B | ||
| Q2 25 | $2.5B | $4.8B | ||
| Q1 25 | $2.4B | $4.6B | ||
| Q4 24 | $2.4B | $4.3B | ||
| Q3 24 | $2.4B | $4.0B | ||
| Q2 24 | $2.4B | $3.8B | ||
| Q1 24 | $2.4B | $3.8B |
负债/权益比DIODSTEP
| Q4 25 | 0.01× | — | ||
| Q3 25 | 0.01× | — | ||
| Q2 25 | 0.01× | 1.75× | ||
| Q1 25 | 0.01× | 1.50× | ||
| Q4 24 | 0.01× | 0.81× | ||
| Q3 24 | 0.01× | 0.43× | ||
| Q2 24 | 0.01× | 0.47× | ||
| Q1 24 | 0.01× | 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 | $38.1M | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $12.4M | $26.7M |
| 自由现金流率自由现金流/营收 | 3.2% | 4.6% |
| 资本支出强度资本支出/营收 | 6.6% | 0.1% |
| 现金转化率经营现金流/净利润 | 3.74× | — |
| 过去12个月自由现金流最近4个季度 | $137.2M | $18.6M |
8季度趋势，按日历期对齐
经营现金流DIODSTEP
| Q4 25 | $38.1M | $27.2M | ||
| Q3 25 | $79.1M | $16.2M | ||
| Q2 25 | $41.5M | $46.3M | ||
| Q1 25 | $56.7M | $-66.5M | ||
| Q4 24 | $81.8M | $27.6M | ||
| Q3 24 | $54.4M | $53.7M | ||
| Q2 24 | $14.4M | $50.2M | ||
| Q1 24 | $-31.1M | $7.6M |
自由现金流DIODSTEP
| Q4 25 | $12.4M | $26.7M | ||
| Q3 25 | $62.8M | $15.9M | ||
| Q2 25 | $21.1M | $45.2M | ||
| Q1 25 | $40.8M | $-69.2M | ||
| Q4 24 | $62.1M | $27.0M | ||
| Q3 24 | $39.4M | $52.4M | ||
| Q2 24 | $-3.5M | $49.6M | ||
| Q1 24 | $-51.5M | $6.7M |
自由现金流率DIODSTEP
| Q4 25 | 3.2% | 4.6% | ||
| Q3 25 | 16.0% | 3.5% | ||
| Q2 25 | 5.8% | 12.4% | ||
| Q1 25 | 12.3% | -18.3% | ||
| Q4 24 | 18.3% | 8.0% | ||
| Q3 24 | 11.2% | 19.3% | ||
| Q2 24 | -1.1% | 26.6% | ||
| Q1 24 | -17.1% | 1.9% |
资本支出强度DIODSTEP
| Q4 25 | 6.6% | 0.1% | ||
| Q3 25 | 4.2% | 0.1% | ||
| Q2 25 | 5.6% | 0.3% | ||
| Q1 25 | 4.8% | 0.7% | ||
| Q4 24 | 5.8% | 0.2% | ||
| Q3 24 | 4.3% | 0.5% | ||
| Q2 24 | 5.6% | 0.3% | ||
| Q1 24 | 6.7% | 0.3% |
现金转化率DIODSTEP
| Q4 25 | 3.74× | — | ||
| Q3 25 | 5.54× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 9.93× | — | ||
| Q3 24 | 3.95× | 3.05× | ||
| Q2 24 | 1.80× | 3.76× | ||
| Q1 24 | -2.22× | 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
DIOD
| Distributor | $253.1M | 65% |
| Direct Sales | $138.5M | 35% |
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% |
