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Dynatrace, Inc.（DT）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）财务数据对比。点击上方公司名可切换其他公司
ADVANCED DRAINAGE SYSTEMS, INC.的季度营收约是Dynatrace, Inc.的1.3倍（$693.4M vs $515.5M），ADVANCED DRAINAGE SYSTEMS, INC.净利率更高（13.5% vs 7.8%，领先5.7%），Dynatrace, Inc.同比增速更快（18.2% vs 0.4%），ADVANCED DRAINAGE SYSTEMS, INC.自由现金流更多（$183.6M vs $27.2M），过去两年Dynatrace, Inc.的营收复合增速更高（16.3% vs 3.0%）
Dynatrace是总部位于美国的跨国科技企业，主打AI驱动的可观测性平台，旗下软件可用于应用性能监控分析、软件开发流程优化、网络安全防护、IT基础设施运维及用户体验提升等场景，为各行业客户的数字化运营提供有力技术支撑。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
DT vs WMS — 直观对比
营收规模更大
WMS
是对方的1.3倍
$515.5M
营收增速更快
DT
高出17.8%
0.4%
净利率更高
WMS
高出5.7%
7.8%
自由现金流更多
WMS
多$156.3M
$27.2M
两年增速更快
DT
近两年复合增速
3.0%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $515.5M | $693.4M |
| 净利润 | $40.1M | $93.6M |
| 毛利率 | 81.4% | 37.4% |
| 营业利润率 | 14.1% | 19.7% |
| 净利率 | 7.8% | 13.5% |
| 营收同比 | 18.2% | 0.4% |
| 净利润同比 | -88.9% | 15.3% |
| 每股收益（稀释后） | $0.13 | $1.19 |
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DTWMS
| Q4 25 | $515.5M | $693.4M | ||
| Q3 25 | $493.8M | $850.4M | ||
| Q2 25 | $477.3M | $829.9M | ||
| Q1 25 | $445.2M | $615.8M | ||
| Q4 24 | $436.2M | $690.5M | ||
| Q3 24 | $418.1M | $782.6M | ||
| Q2 24 | $399.2M | $815.3M | ||
| Q1 24 | $380.8M | $653.8M |
净利润DTWMS
| Q4 25 | $40.1M | $93.6M | ||
| Q3 25 | $57.2M | $156.0M | ||
| Q2 25 | $48.0M | $143.9M | ||
| Q1 25 | $39.3M | $77.2M | ||
| Q4 24 | $361.8M | $81.2M | ||
| Q3 24 | $44.0M | $130.4M | ||
| Q2 24 | $38.6M | $161.4M | ||
| Q1 24 | $37.9M | $94.8M |
毛利率DTWMS
| Q4 25 | 81.4% | 37.4% | ||
| Q3 25 | 81.8% | 40.0% | ||
| Q2 25 | 82.1% | 39.8% | ||
| Q1 25 | 80.9% | 36.7% | ||
| Q4 24 | 81.1% | 35.0% | ||
| Q3 24 | 81.4% | 37.6% | ||
| Q2 24 | 81.3% | 40.8% | ||
| Q1 24 | 81.1% | 38.5% |
营业利润率DTWMS
| Q4 25 | 14.1% | 19.7% | ||
| Q3 25 | 14.8% | 26.3% | ||
| Q2 25 | 13.1% | 24.8% | ||
| Q1 25 | 9.6% | 19.0% | ||
| Q4 24 | 10.9% | 18.4% | ||
| Q3 24 | 11.2% | 23.9% | ||
| Q2 24 | 10.5% | 27.7% | ||
| Q1 24 | 6.1% | 20.7% |
净利率DTWMS
| Q4 25 | 7.8% | 13.5% | ||
| Q3 25 | 11.6% | 18.3% | ||
| Q2 25 | 10.0% | 17.3% | ||
| Q1 25 | 8.8% | 12.5% | ||
| Q4 24 | 82.9% | 11.8% | ||
| Q3 24 | 10.5% | 16.7% | ||
| Q2 24 | 9.7% | 19.8% | ||
| Q1 24 | 10.0% | 14.5% |
每股收益（稀释后）DTWMS
| Q4 25 | $0.13 | $1.19 | ||
| Q3 25 | $0.19 | $1.99 | ||
| Q2 25 | $0.16 | $1.84 | ||
| Q1 25 | $0.12 | $0.99 | ||
| Q4 24 | $1.19 | $1.04 | ||
| Q3 24 | $0.15 | $1.67 | ||
| Q2 24 | $0.13 | $2.06 | ||
| Q1 24 | $0.13 | $1.22 |
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 | $1.2B | $1.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.7B | $1.9B |
| 总资产 | $4.1B | $4.1B |
| 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DTWMS
| Q4 25 | $1.2B | $1.0B | ||
| Q3 25 | $1.3B | $812.9M | ||
| Q2 25 | $1.3B | $638.3M | ||
| Q1 25 | $1.1B | $463.3M | ||
| Q4 24 | $1.0B | $488.9M | ||
| Q3 24 | $1.0B | $613.0M | ||
| Q2 24 | $1.0B | $541.6M | ||
| Q1 24 | $836.9M | $490.2M |
总债务DTWMS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.3B |
股东权益DTWMS
| Q4 25 | $2.7B | $1.9B | ||
| Q3 25 | $2.8B | $1.8B | ||
| Q2 25 | $2.7B | $1.7B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.1B | $1.4B | ||
| Q2 24 | $2.1B | $1.3B | ||
| Q1 24 | $2.0B | $1.2B |
总资产DTWMS
| Q4 25 | $4.1B | $4.1B | ||
| Q3 25 | $4.1B | $4.1B | ||
| Q2 25 | $4.1B | $3.9B | ||
| Q1 25 | $4.1B | $3.7B | ||
| Q4 24 | $3.7B | $3.6B | ||
| Q3 24 | $3.3B | $3.5B | ||
| Q2 24 | $3.3B | $3.4B | ||
| Q1 24 | $3.4B | $3.3B |
负债/权益比DTWMS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.11× |
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 | $33.8M | $269.3M |
| 自由现金流经营现金流 - 资本支出 | $27.2M | $183.6M |
| 自由现金流率自由现金流/营收 | 5.3% | 26.5% |
| 资本支出强度资本支出/营收 | 1.3% | 12.4% |
| 现金转化率经营现金流/净利润 | 0.84× | 2.88× |
| 过去12个月自由现金流最近4个季度 | $465.5M | $577.1M |
8季度趋势，按日历期对齐
经营现金流DTWMS
| Q4 25 | $33.8M | $269.3M | ||
| Q3 25 | $32.0M | $234.9M | ||
| Q2 25 | $269.7M | $275.0M | ||
| Q1 25 | $162.8M | $41.2M | ||
| Q4 24 | $42.2M | $189.9M | ||
| Q3 24 | $23.6M | $166.9M | ||
| Q2 24 | $230.7M | $183.4M | ||
| Q1 24 | $131.7M | $17.7M |
自由现金流DTWMS
| Q4 25 | $27.2M | $183.6M | ||
| Q3 25 | $27.8M | $176.4M | ||
| Q2 25 | $262.2M | $222.4M | ||
| Q1 25 | $148.2M | $-5.3M | ||
| Q4 24 | $37.6M | $135.7M | ||
| Q3 24 | $20.1M | $112.4M | ||
| Q2 24 | $227.4M | $125.7M | ||
| Q1 24 | $121.9M | $-29.8M |
自由现金流率DTWMS
| Q4 25 | 5.3% | 26.5% | ||
| Q3 25 | 5.6% | 20.7% | ||
| Q2 25 | 54.9% | 26.8% | ||
| Q1 25 | 33.3% | -0.9% | ||
| Q4 24 | 8.6% | 19.7% | ||
| Q3 24 | 4.8% | 14.4% | ||
| Q2 24 | 57.0% | 15.4% | ||
| Q1 24 | 32.0% | -4.6% |
资本支出强度DTWMS
| Q4 25 | 1.3% | 12.4% | ||
| Q3 25 | 0.8% | 6.9% | ||
| Q2 25 | 1.6% | 6.3% | ||
| Q1 25 | 3.3% | 7.6% | ||
| Q4 24 | 1.1% | 7.9% | ||
| Q3 24 | 0.8% | 7.0% | ||
| Q2 24 | 0.8% | 7.1% | ||
| Q1 24 | 2.6% | 7.3% |
现金转化率DTWMS
| Q4 25 | 0.84× | 2.88× | ||
| Q3 25 | 0.56× | 1.51× | ||
| Q2 25 | 5.62× | 1.91× | ||
| Q1 25 | 4.14× | 0.53× | ||
| Q4 24 | 0.12× | 2.34× | ||
| Q3 24 | 0.54× | 1.28× | ||
| Q2 24 | 5.97× | 1.14× | ||
| Q1 24 | 3.47× | 0.19× |
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
DT
| Subscription And Circulation | $493.4M | 96% |
| Services | $22.1M | 4% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
