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美国艺电（EA）与托尔工业（THO）财务数据对比。点击上方公司名可切换其他公司
托尔工业的季度营收约是美国艺电的1.3倍（$2.4B vs $1.9B），美国艺电净利率更高（4.6% vs 0.9%，领先3.7%），托尔工业同比增速更快（11.5% vs 1.0%），过去两年托尔工业的营收复合增速更高（4.0% vs 3.4%）
美国艺电（EA）是总部位于美国加利福尼亚州雷德伍德城的电子游戏企业，1982年5月由前苹果员工特里普·霍金斯创立。作为早期家用电脑游戏行业的先驱，公司将旗下游戏设计师与程序员称作“软件艺术家”，是全球知名的游戏厂商。
托尔工业是美国知名休闲房车（RV）生产商，旗下拥有Airstream、Heartland RV、Jayco等多个子品牌，主营拖挂式及自行式休闲房车的生产销售，总部位于印第安纳州埃尔克哈特，在密歇根、俄亥俄、爱达荷、俄勒冈等多个州设有生产基地。
EA vs THO — 直观对比
营收规模更大
THO
是对方的1.3倍
$1.9B
营收增速更快
THO
高出10.5%
1.0%
净利率更高
EA
高出3.7%
0.9%
两年增速更快
THO
近两年复合增速
3.4%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.4B |
| 净利润 | $88.0M | $21.7M |
| 毛利率 | 73.8% | 13.4% |
| 营业利润率 | 6.7% | 1.4% |
| 净利率 | 4.6% | 0.9% |
| 营收同比 | 1.0% | 11.5% |
| 净利润同比 | -70.0% | 1282.8% |
| 每股收益（稀释后） | $0.35 | $0.41 |
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EATHO
| Q4 25 | $1.9B | $2.4B | ||
| Q3 25 | $1.8B | $2.5B | ||
| Q2 25 | $1.7B | $2.9B | ||
| Q1 25 | $1.9B | $2.0B | ||
| Q4 24 | $1.9B | $2.1B | ||
| Q3 24 | $2.0B | $2.5B | ||
| Q2 24 | $1.7B | $2.8B | ||
| Q1 24 | $1.8B | $2.2B |
净利润EATHO
| Q4 25 | $88.0M | $21.7M | ||
| Q3 25 | $137.0M | $125.8M | ||
| Q2 25 | $201.0M | $135.2M | ||
| Q1 25 | $254.0M | $-551.0K | ||
| Q4 24 | $293.0M | $-1.8M | ||
| Q3 24 | $294.0M | $90.0M | ||
| Q2 24 | $280.0M | $114.5M | ||
| Q1 24 | $182.0M | $7.2M |
毛利率EATHO
| Q4 25 | 73.8% | 13.4% | ||
| Q3 25 | 75.9% | 14.7% | ||
| Q2 25 | 83.3% | 15.3% | ||
| Q1 25 | 80.6% | 12.1% | ||
| Q4 24 | 75.8% | 13.1% | ||
| Q3 24 | 77.5% | 15.8% | ||
| Q2 24 | 84.2% | 15.1% | ||
| Q1 24 | 79.9% | 12.3% |
营业利润率EATHO
| Q4 25 | 6.7% | 1.4% | ||
| Q3 25 | 10.9% | 5.7% | ||
| Q2 25 | 16.2% | 5.4% | ||
| Q1 25 | 20.8% | -0.1% | ||
| Q4 24 | 20.0% | -0.1% | ||
| Q3 24 | 19.0% | 5.0% | ||
| Q2 24 | 21.9% | 5.1% | ||
| Q1 24 | 13.2% | 0.3% |
净利率EATHO
| Q4 25 | 4.6% | 0.9% | ||
| Q3 25 | 7.4% | 5.0% | ||
| Q2 25 | 12.0% | 4.7% | ||
| Q1 25 | 13.4% | -0.0% | ||
| Q4 24 | 15.6% | -0.1% | ||
| Q3 24 | 14.5% | 3.6% | ||
| Q2 24 | 16.9% | 4.1% | ||
| Q1 24 | 10.2% | 0.3% |
每股收益（稀释后）EATHO
| Q4 25 | $0.35 | $0.41 | ||
| Q3 25 | $0.54 | $2.35 | ||
| Q2 25 | $0.79 | $2.53 | ||
| Q1 25 | $0.99 | $-0.01 | ||
| Q4 24 | $1.11 | $-0.03 | ||
| Q3 24 | $1.11 | $1.69 | ||
| Q2 24 | $1.04 | $2.13 | ||
| Q1 24 | $0.67 | $0.13 |
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 | $2.8B | $509.9M |
| 总债务越低越好 | — | $916.0M |
| 股东权益账面价值 | $6.2B | $4.3B |
| 总资产 | $13.3B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资EATHO
| Q4 25 | $2.8B | $509.9M | ||
| Q3 25 | $1.1B | $586.6M | ||
| Q2 25 | $1.5B | $508.3M | ||
| Q1 25 | $2.1B | $373.8M | ||
| Q4 24 | $2.8B | $445.2M | ||
| Q3 24 | $2.2B | $501.3M | ||
| Q2 24 | $2.4B | $371.8M | ||
| Q1 24 | $2.9B | $340.2M |
总债务EATHO
| Q4 25 | — | $916.0M | ||
| Q3 25 | — | $923.0M | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.4B |
股东权益EATHO
| Q4 25 | $6.2B | $4.3B | ||
| Q3 25 | $6.0B | $4.3B | ||
| Q2 25 | $6.1B | $4.2B | ||
| Q1 25 | $6.4B | $4.0B | ||
| Q4 24 | $7.4B | $4.1B | ||
| Q3 24 | $7.4B | $4.1B | ||
| Q2 24 | $7.4B | $4.0B | ||
| Q1 24 | $7.5B | $3.9B |
总资产EATHO
| Q4 25 | $13.3B | $7.0B | ||
| Q3 25 | $11.9B | $7.1B | ||
| Q2 25 | $11.7B | $7.2B | ||
| Q1 25 | $12.4B | $6.7B | ||
| Q4 24 | $13.5B | $6.9B | ||
| Q3 24 | $13.1B | $7.0B | ||
| Q2 24 | $12.7B | $7.2B | ||
| Q1 24 | $13.4B | $7.2B |
负债/权益比EATHO
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 0.28× | ||
| Q2 24 | — | 0.31× | ||
| Q1 24 | — | 0.36× |
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 | $1.8B | $-44.9M |
| 自由现金流经营现金流 - 资本支出 | — | $-74.8M |
| 自由现金流率自由现金流/营收 | — | -3.1% |
| 资本支出强度资本支出/营收 | — | 1.3% |
| 现金转化率经营现金流/净利润 | 20.75× | -2.07× |
| 过去12个月自由现金流最近4个季度 | — | $375.1M |
8季度趋势，按日历期对齐
经营现金流EATHO
| Q4 25 | $1.8B | $-44.9M | ||
| Q3 25 | $130.0M | $258.7M | ||
| Q2 25 | $17.0M | $257.7M | ||
| Q1 25 | $549.0M | $30.8M | ||
| Q4 24 | $1.2B | $30.7M | ||
| Q3 24 | $234.0M | $338.0M | ||
| Q2 24 | $120.0M | $251.7M | ||
| Q1 24 | $580.0M | $-103.9M |
自由现金流EATHO
| Q4 25 | — | $-74.8M | ||
| Q3 25 | — | $221.6M | ||
| Q2 25 | — | $222.5M | ||
| Q1 25 | — | $5.8M | ||
| Q4 24 | — | $6.4M | ||
| Q3 24 | — | $301.3M | ||
| Q2 24 | — | $225.4M | ||
| Q1 24 | — | $-140.2M |
自由现金流率EATHO
| Q4 25 | — | -3.1% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 11.9% | ||
| Q2 24 | — | 8.0% | ||
| Q1 24 | — | -6.4% |
资本支出强度EATHO
| Q4 25 | — | 1.3% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 1.6% |
现金转化率EATHO
| Q4 25 | 20.75× | -2.07× | ||
| Q3 25 | 0.95× | 2.06× | ||
| Q2 25 | 0.08× | 1.91× | ||
| Q1 25 | 2.16× | — | ||
| Q4 24 | 4.01× | — | ||
| Q3 24 | 0.80× | 3.76× | ||
| Q2 24 | 0.43× | 2.20× | ||
| Q1 24 | 3.19× | -14.39× |
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
EA
| Live Services And Other Net Revenue | $1.3B | 67% |
| PC And Other Net Revenue | $465.0M | 24% |
| Packaged Goods Net Revenue | $86.0M | 5% |
| Other | $56.0M | 3% |
| Estimated Service Offering Period | $25.0M | 1% |
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
