vs
Generac（GNRC）与泰瑞达（TER）财务数据对比。点击上方公司名可切换其他公司
Generac的季度营收约是泰瑞达的1.0倍（$1.1B vs $1.1B），泰瑞达净利率更高（23.7% vs -2.2%，领先26.0%），泰瑞达同比增速更快（43.9% vs -11.6%），泰瑞达自由现金流更多（$218.8M vs $129.9M），过去两年泰瑞达的营收复合增速更高（34.4% vs 10.8%）
Generac Holdings Inc.（简称Generac）是美国财富1000强企业，主营面向住宅、小型商业及工业领域的备用发电产品，功率覆盖800瓦至9兆瓦，通过独立经销商、零售商及批发商渠道发售，总部位于威斯康星州沃基肖，在该州多地设有生产基地。
泰瑞达是总部位于美国马萨诸塞州北雷丁的自动测试设备（ATE）设计及制造企业，在全球半导体测试领域拥有深厚技术积累，服务的知名客户涵盖三星、高通、英特尔、亚德诺、德州仪器、IBM等行业头部企业。
GNRC vs TER — 直观对比
营收规模更大
GNRC
是对方的1.0倍
$1.1B
营收增速更快
TER
高出55.5%
-11.6%
净利率更高
TER
高出26.0%
-2.2%
自由现金流更多
TER
多$88.8M
$129.9M
两年增速更快
TER
近两年复合增速
10.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.1B |
| 净利润 | $-24.5M | $257.2M |
| 毛利率 | 36.3% | 57.2% |
| 营业利润率 | -0.9% | 27.1% |
| 净利率 | -2.2% | 23.7% |
| 营收同比 | -11.6% | 43.9% |
| 净利润同比 | -120.9% | 75.9% |
| 每股收益（稀释后） | $-0.41 | $1.62 |
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GNRCTER
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $769.2M | ||
| Q2 25 | $1.1B | $651.8M | ||
| Q1 25 | $942.1M | $685.7M | ||
| Q4 24 | $1.2B | $752.9M | ||
| Q3 24 | $1.2B | $737.3M | ||
| Q2 24 | $998.2M | $729.9M | ||
| Q1 24 | $889.3M | $599.8M |
净利润GNRCTER
| Q4 25 | $-24.5M | $257.2M | ||
| Q3 25 | $66.2M | $119.6M | ||
| Q2 25 | $74.0M | $78.4M | ||
| Q1 25 | $43.8M | $98.9M | ||
| Q4 24 | $117.2M | $146.3M | ||
| Q3 24 | $113.7M | $145.6M | ||
| Q2 24 | $59.1M | $186.3M | ||
| Q1 24 | $26.2M | $64.2M |
毛利率GNRCTER
| Q4 25 | 36.3% | 57.2% | ||
| Q3 25 | 38.3% | 58.4% | ||
| Q2 25 | 39.3% | 57.2% | ||
| Q1 25 | 39.5% | 60.6% | ||
| Q4 24 | 40.6% | 59.4% | ||
| Q3 24 | 40.2% | 59.2% | ||
| Q2 24 | 37.6% | 58.3% | ||
| Q1 24 | 35.6% | 56.6% |
营业利润率GNRCTER
| Q4 25 | -0.9% | 27.1% | ||
| Q3 25 | 9.3% | 18.9% | ||
| Q2 25 | 10.5% | 13.9% | ||
| Q1 25 | 8.9% | 17.6% | ||
| Q4 24 | 16.0% | 20.4% | ||
| Q3 24 | 14.4% | 20.6% | ||
| Q2 24 | 10.3% | 28.8% | ||
| Q1 24 | 7.5% | 13.0% |
净利率GNRCTER
| Q4 25 | -2.2% | 23.7% | ||
| Q3 25 | 5.9% | 15.5% | ||
| Q2 25 | 7.0% | 12.0% | ||
| Q1 25 | 4.7% | 14.4% | ||
| Q4 24 | 9.5% | 19.4% | ||
| Q3 24 | 9.7% | 19.8% | ||
| Q2 24 | 5.9% | 25.5% | ||
| Q1 24 | 2.9% | 10.7% |
每股收益（稀释后）GNRCTER
| Q4 25 | $-0.41 | $1.62 | ||
| Q3 25 | $1.12 | $0.75 | ||
| Q2 25 | $1.25 | $0.49 | ||
| Q1 25 | $0.73 | $0.61 | ||
| Q4 24 | $2.14 | $0.89 | ||
| Q3 24 | $1.89 | $0.89 | ||
| Q2 24 | $0.97 | $1.14 | ||
| Q1 24 | $0.39 | $0.40 |
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 | $341.4M | $293.8M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $2.6B | $2.8B |
| 总资产 | $5.6B | $4.2B |
| 负债/权益比越低杠杆越低 | 0.48× | — |
8季度趋势，按日历期对齐
现金及短期投资GNRCTER
| Q4 25 | $341.4M | $293.8M | ||
| Q3 25 | $300.0M | $272.7M | ||
| Q2 25 | $223.5M | $339.3M | ||
| Q1 25 | $187.5M | $475.6M | ||
| Q4 24 | $281.3M | $553.4M | ||
| Q3 24 | $214.2M | $510.0M | ||
| Q2 24 | $218.3M | $421.9M | ||
| Q1 24 | $249.4M | $707.4M |
总债务GNRCTER
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益GNRCTER
| Q4 25 | $2.6B | $2.8B | ||
| Q3 25 | $2.6B | $2.7B | ||
| Q2 25 | $2.6B | $2.8B | ||
| Q1 25 | $2.5B | $2.8B | ||
| Q4 24 | $2.5B | $2.8B | ||
| Q3 24 | $2.4B | $2.9B | ||
| Q2 24 | $2.4B | $2.7B | ||
| Q1 24 | $2.4B | $2.6B |
总资产GNRCTER
| Q4 25 | $5.6B | $4.2B | ||
| Q3 25 | $5.6B | $4.0B | ||
| Q2 25 | $5.4B | $3.8B | ||
| Q1 25 | $5.1B | $3.7B | ||
| Q4 24 | $5.1B | $3.7B | ||
| Q3 24 | $5.2B | $3.8B | ||
| Q2 24 | $5.1B | $3.6B | ||
| Q1 24 | $5.1B | $3.4B |
负债/权益比GNRCTER
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.50× | — | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 0.49× | — | ||
| Q3 24 | 0.56× | — | ||
| Q2 24 | 0.61× | — | ||
| Q1 24 | 0.61× | — |
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 | $189.3M | $281.6M |
| 自由现金流经营现金流 - 资本支出 | $129.9M | $218.8M |
| 自由现金流率自由现金流/营收 | 11.9% | 20.2% |
| 资本支出强度资本支出/营收 | 5.4% | 5.8% |
| 现金转化率经营现金流/净利润 | — | 1.09× |
| 过去12个月自由现金流最近4个季度 | $268.1M | $450.4M |
8季度趋势，按日历期对齐
经营现金流GNRCTER
| Q4 25 | $189.3M | $281.6M | ||
| Q3 25 | $118.4M | $49.0M | ||
| Q2 25 | $72.2M | $182.1M | ||
| Q1 25 | $58.2M | $161.6M | ||
| Q4 24 | $339.5M | $282.6M | ||
| Q3 24 | $212.3M | $166.3M | ||
| Q2 24 | $77.7M | $216.1M | ||
| Q1 24 | $111.9M | $7.3M |
自由现金流GNRCTER
| Q4 25 | $129.9M | $218.8M | ||
| Q3 25 | $96.5M | $2.4M | ||
| Q2 25 | $14.5M | $131.7M | ||
| Q1 25 | $27.2M | $97.6M | ||
| Q4 24 | $286.1M | $225.2M | ||
| Q3 24 | $183.7M | $114.4M | ||
| Q2 24 | $49.7M | $171.2M | ||
| Q1 24 | $85.1M | $-36.7M |
自由现金流率GNRCTER
| Q4 25 | 11.9% | 20.2% | ||
| Q3 25 | 8.7% | 0.3% | ||
| Q2 25 | 1.4% | 20.2% | ||
| Q1 25 | 2.9% | 14.2% | ||
| Q4 24 | 23.2% | 29.9% | ||
| Q3 24 | 15.6% | 15.5% | ||
| Q2 24 | 5.0% | 23.5% | ||
| Q1 24 | 9.6% | -6.1% |
资本支出强度GNRCTER
| Q4 25 | 5.4% | 5.8% | ||
| Q3 25 | 2.0% | 6.1% | ||
| Q2 25 | 5.4% | 7.7% | ||
| Q1 25 | 3.3% | 9.3% | ||
| Q4 24 | 4.3% | 7.6% | ||
| Q3 24 | 2.4% | 7.0% | ||
| Q2 24 | 2.8% | 6.1% | ||
| Q1 24 | 3.0% | 7.3% |
现金转化率GNRCTER
| Q4 25 | — | 1.09× | ||
| Q3 25 | 1.79× | 0.41× | ||
| Q2 25 | 0.98× | 2.32× | ||
| Q1 25 | 1.33× | 1.63× | ||
| Q4 24 | 2.90× | 1.93× | ||
| Q3 24 | 1.87× | 1.14× | ||
| Q2 24 | 1.31× | 1.16× | ||
| Q1 24 | 4.27× | 0.11× |
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
GNRC
| Residential Power Products | $550.1M | 50% |
| Commercial And Industrial Power Products | $228.4M | 21% |
| Other | $202.3M | 19% |
| Other Products And Services | $106.0M | 10% |
| Intersegment Sales | $4.8M | 0% |
TER
| Soc | $646.5M | 60% |
| Memory | $206.5M | 19% |
| Transferred At Point In Time | $90.0M | 8% |
| Universal Robots | $89.4M | 8% |
| IST | $30.5M | 3% |
| Transferred Over Time | $20.5M | 2% |
