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Elastic N.V.（ESTC）与摩丁制造（MOD）财务数据对比。点击上方公司名可切换其他公司
摩丁制造的季度营收约是Elastic N.V.的1.9倍（$805.0M vs $423.5M），摩丁制造净利率更高（-5.9% vs -12.1%，领先6.2%），摩丁制造同比增速更快（30.5% vs 15.9%），Elastic N.V.自由现金流更多（$26.0M vs $-17.1M），过去两年摩丁制造的营收复合增速更高（15.5% vs 13.6%）
Elastic是荷美合资软件企业，2012年成立于荷兰阿姆斯特丹，运营总部分设于荷兰及美国加利福尼亚州旧金山市，于纽交所上市。公司提供企业级搜索、可观测性、网络安全平台，可支持用户实现大规模数据搜索分析、系统性能监测及异常检测。
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
ESTC vs MOD — 直观对比
营收规模更大
MOD
是对方的1.9倍
$423.5M
营收增速更快
MOD
高出14.6%
15.9%
净利率更高
MOD
高出6.2%
-12.1%
自由现金流更多
ESTC
多$43.1M
$-17.1M
两年增速更快
MOD
近两年复合增速
13.6%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $423.5M | $805.0M |
| 净利润 | $-51.3M | $-47.4M |
| 毛利率 | 75.9% | 23.1% |
| 营业利润率 | -1.9% | 11.1% |
| 净利率 | -12.1% | -5.9% |
| 营收同比 | 15.9% | 30.5% |
| 净利润同比 | -101.5% | -215.6% |
| 每股收益（稀释后） | $-0.48 | $-0.90 |
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ESTCMOD
| Q4 25 | $423.5M | $805.0M | ||
| Q3 25 | $415.3M | $738.9M | ||
| Q2 25 | $388.4M | $682.8M | ||
| Q1 25 | $382.1M | $647.2M | ||
| Q4 24 | $365.4M | $616.8M | ||
| Q3 24 | $347.4M | $658.0M | ||
| Q2 24 | $335.0M | $661.5M | ||
| Q1 24 | $328.0M | $603.5M |
净利润ESTCMOD
| Q4 25 | $-51.3M | $-47.4M | ||
| Q3 25 | $-24.6M | $44.4M | ||
| Q2 25 | $-16.4M | $51.2M | ||
| Q1 25 | $-17.1M | $49.6M | ||
| Q4 24 | $-25.4M | $41.0M | ||
| Q3 24 | $-49.2M | $46.1M | ||
| Q2 24 | $-41.1M | $47.3M | ||
| Q1 24 | $176.1M | $25.8M |
毛利率ESTCMOD
| Q4 25 | 75.9% | 23.1% | ||
| Q3 25 | 76.7% | 22.3% | ||
| Q2 25 | 74.8% | 24.2% | ||
| Q1 25 | 74.6% | 25.6% | ||
| Q4 24 | 74.5% | 24.3% | ||
| Q3 24 | 73.6% | 25.2% | ||
| Q2 24 | 73.8% | 24.6% | ||
| Q1 24 | 74.2% | 22.4% |
营业利润率ESTCMOD
| Q4 25 | -1.9% | 11.1% | ||
| Q3 25 | -2.3% | 9.9% | ||
| Q2 25 | -3.1% | 11.1% | ||
| Q1 25 | -1.2% | 11.5% | ||
| Q4 24 | -1.2% | 9.6% | ||
| Q3 24 | -9.7% | 11.4% | ||
| Q2 24 | -13.6% | 11.2% | ||
| Q1 24 | -8.1% | 7.8% |
净利率ESTCMOD
| Q4 25 | -12.1% | -5.9% | ||
| Q3 25 | -5.9% | 6.0% | ||
| Q2 25 | -4.2% | 7.5% | ||
| Q1 25 | -4.5% | 7.7% | ||
| Q4 24 | -7.0% | 6.6% | ||
| Q3 24 | -14.2% | 7.0% | ||
| Q2 24 | -12.3% | 7.2% | ||
| Q1 24 | 53.7% | 4.3% |
每股收益（稀释后）ESTCMOD
| Q4 25 | $-0.48 | $-0.90 | ||
| Q3 25 | $-0.23 | $0.83 | ||
| Q2 25 | $-0.15 | $0.95 | ||
| Q1 25 | $-0.16 | $0.92 | ||
| Q4 24 | $-0.25 | $0.76 | ||
| Q3 24 | $-0.48 | $0.86 | ||
| Q2 24 | $-0.35 | $0.88 | ||
| Q1 24 | $1.69 | $0.48 |
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 | $1.4B | $98.7M |
| 总债务越低越好 | $570.3M | $570.7M |
| 股东权益账面价值 | $891.1M | $1.1B |
| 总资产 | $2.5B | $2.5B |
| 负债/权益比越低杠杆越低 | 0.64× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资ESTCMOD
| Q4 25 | $1.4B | $98.7M | ||
| Q3 25 | $1.5B | $83.8M | ||
| Q2 25 | $1.4B | $124.5M | ||
| Q1 25 | $584.0M | $71.6M | ||
| Q4 24 | $658.5M | $83.8M | ||
| Q3 24 | $594.9M | $78.6M | ||
| Q2 24 | $1.1B | $72.9M | ||
| Q1 24 | $526.9M | $60.1M |
总债务ESTCMOD
| Q4 25 | $570.3M | $570.7M | ||
| Q3 25 | $570.0M | $525.8M | ||
| Q2 25 | $569.7M | $482.1M | ||
| Q1 25 | $569.4M | $296.7M | ||
| Q4 24 | $569.2M | $330.0M | ||
| Q3 24 | $568.9M | $359.1M | ||
| Q2 24 | $568.6M | $405.7M | ||
| Q1 24 | $568.3M | $399.9M |
股东权益ESTCMOD
| Q4 25 | $891.1M | $1.1B | ||
| Q3 25 | $971.4M | $1.1B | ||
| Q2 25 | $927.2M | $1.0B | ||
| Q1 25 | $859.1M | $910.2M | ||
| Q4 24 | $811.5M | $855.1M | ||
| Q3 24 | $759.4M | $858.8M | ||
| Q2 24 | $738.2M | $788.4M | ||
| Q1 24 | $707.8M | $747.6M |
总资产ESTCMOD
| Q4 25 | $2.5B | $2.5B | ||
| Q3 25 | $2.5B | $2.4B | ||
| Q2 25 | $2.6B | $2.2B | ||
| Q1 25 | $2.3B | $1.9B | ||
| Q4 24 | $2.2B | $1.8B | ||
| Q3 24 | $2.2B | $1.9B | ||
| Q2 24 | $2.2B | $1.9B | ||
| Q1 24 | $2.1B | $1.9B |
负债/权益比ESTCMOD
| Q4 25 | 0.64× | 0.51× | ||
| Q3 25 | 0.59× | 0.50× | ||
| Q2 25 | 0.61× | 0.48× | ||
| Q1 25 | 0.66× | 0.33× | ||
| Q4 24 | 0.70× | 0.39× | ||
| Q3 24 | 0.75× | 0.42× | ||
| Q2 24 | 0.77× | 0.51× | ||
| Q1 24 | 0.80× | 0.53× |
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 | $26.6M | $24.7M |
| 自由现金流经营现金流 - 资本支出 | $26.0M | $-17.1M |
| 自由现金流率自由现金流/营收 | 6.1% | -2.1% |
| 资本支出强度资本支出/营收 | 0.1% | 5.2% |
| 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 | $302.3M | $-20.3M |
8季度趋势，按日历期对齐
经营现金流ESTCMOD
| Q4 25 | $26.6M | $24.7M | ||
| Q3 25 | $104.8M | $1.4M | ||
| Q2 25 | $87.0M | $27.7M | ||
| Q1 25 | $88.1M | $54.8M | ||
| Q4 24 | $38.4M | $60.7M | ||
| Q3 24 | $52.8M | $57.3M | ||
| Q2 24 | $60.9M | $40.5M | ||
| Q1 24 | $52.4M | $39.6M |
自由现金流ESTCMOD
| Q4 25 | $26.0M | $-17.1M | ||
| Q3 25 | $104.2M | $-30.5M | ||
| Q2 25 | $84.9M | $200.0K | ||
| Q1 25 | $87.3M | $27.1M | ||
| Q4 24 | $37.7M | $44.7M | ||
| Q3 24 | $52.0M | $43.8M | ||
| Q2 24 | $60.1M | $13.7M | ||
| Q1 24 | $51.3M | $-4.3M |
自由现金流率ESTCMOD
| Q4 25 | 6.1% | -2.1% | ||
| Q3 25 | 25.1% | -4.1% | ||
| Q2 25 | 21.8% | 0.0% | ||
| Q1 25 | 22.8% | 4.2% | ||
| Q4 24 | 10.3% | 7.2% | ||
| Q3 24 | 15.0% | 6.7% | ||
| Q2 24 | 17.9% | 2.1% | ||
| Q1 24 | 15.6% | -0.7% |
资本支出强度ESTCMOD
| Q4 25 | 0.1% | 5.2% | ||
| Q3 25 | 0.2% | 4.3% | ||
| Q2 25 | 0.5% | 4.0% | ||
| Q1 25 | 0.2% | 4.3% | ||
| Q4 24 | 0.2% | 2.6% | ||
| Q3 24 | 0.2% | 2.1% | ||
| Q2 24 | 0.3% | 4.1% | ||
| Q1 24 | 0.3% | 7.3% |
现金转化率ESTCMOD
| Q4 25 | — | — | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 1.24× | ||
| Q2 24 | — | 0.86× | ||
| Q1 24 | 0.30× | 1.53× |
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
ESTC
| Self Managed Subscription | $192.0M | 45% |
| Saa S Self Managed Annual | $156.9M | 37% |
| Saa S Self Managed Monthly | $48.8M | 12% |
| Professional Services | $25.8M | 6% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
