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是德科技（KEYS）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
是德科技的季度营收约是Rivian Automotive, Inc.的1.1倍（$1.4B vs $1.3B），是德科技净利率更高（16.4% vs -63.1%，领先79.5%），是德科技同比增速更快（10.3% vs -25.8%），是德科技自由现金流更多（$187.0M vs $-1.1B），过去两年是德科技的营收复合增速更高（6.2% vs 3.3%）
是德科技是一家美国企业，主营电子测试测量设备与软件的研发、生产业务。公司由安捷伦科技拆分而来，核心产品线继承自惠普测试测量部门上世纪60年代末至千禧年间开发的相关产品，后独立为现有品牌。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
KEYS vs RIVN — 直观对比
营收规模更大
KEYS
是对方的1.1倍
$1.3B
营收增速更快
KEYS
高出36.1%
-25.8%
净利率更高
KEYS
高出79.5%
-63.1%
自由现金流更多
KEYS
多$1.3B
$-1.1B
两年增速更快
KEYS
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.3B |
| 净利润 | $233.0M | $-811.0M |
| 毛利率 | 61.2% | 9.3% |
| 营业利润率 | 15.3% | -64.8% |
| 净利率 | 16.4% | -63.1% |
| 营收同比 | 10.3% | -25.8% |
| 净利润同比 | 419.2% | -9.0% |
| 每股收益（稀释后） | $1.35 | $-0.66 |
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KEYSRIVN
| Q4 25 | $1.4B | $1.3B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.2B | $874.0M | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.3B | $1.2B |
净利润KEYSRIVN
| Q4 25 | $233.0M | $-811.0M | ||
| Q3 25 | $191.0M | $-1.2B | ||
| Q2 25 | $257.0M | $-1.1B | ||
| Q1 25 | $169.0M | $-545.0M | ||
| Q4 24 | $-73.0M | $-744.0M | ||
| Q3 24 | $389.0M | $-1.1B | ||
| Q2 24 | $126.0M | $-1.5B | ||
| Q1 24 | $172.0M | $-1.4B |
毛利率KEYSRIVN
| Q4 25 | 61.2% | 9.3% | ||
| Q3 25 | 61.7% | 1.5% | ||
| Q2 25 | 62.3% | -15.8% | ||
| Q1 25 | 63.2% | 16.6% | ||
| Q4 24 | 62.3% | 9.8% | ||
| Q3 24 | 62.0% | -44.9% | ||
| Q2 24 | 62.7% | -38.9% | ||
| Q1 24 | 64.6% | -43.8% |
营业利润率KEYSRIVN
| Q4 25 | 15.3% | -64.8% | ||
| Q3 25 | 17.3% | -63.1% | ||
| Q2 25 | 15.8% | -85.5% | ||
| Q1 25 | 16.8% | -52.8% | ||
| Q4 24 | 17.9% | -38.1% | ||
| Q3 24 | 16.8% | -133.8% | ||
| Q2 24 | 14.6% | -118.7% | ||
| Q1 24 | 17.6% | -123.3% |
净利率KEYSRIVN
| Q4 25 | 16.4% | -63.1% | ||
| Q3 25 | 14.1% | -75.3% | ||
| Q2 25 | 19.7% | -85.7% | ||
| Q1 25 | 13.0% | -44.0% | ||
| Q4 24 | -5.7% | -42.9% | ||
| Q3 24 | 32.0% | -125.9% | ||
| Q2 24 | 10.4% | -125.8% | ||
| Q1 24 | 13.7% | -120.1% |
每股收益（稀释后）KEYSRIVN
| Q4 25 | $1.35 | $-0.66 | ||
| Q3 25 | $1.10 | $-0.96 | ||
| Q2 25 | $1.49 | $-0.97 | ||
| Q1 25 | $0.97 | $-0.48 | ||
| Q4 24 | $-0.41 | $-0.67 | ||
| Q3 24 | $2.22 | $-1.08 | ||
| Q2 24 | $0.72 | $-1.46 | ||
| Q1 24 | $0.98 | $-1.48 |
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 | $1.9B | $6.1B |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $5.9B | $4.6B |
| 总资产 | $11.3B | $14.9B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资KEYSRIVN
| Q4 25 | $1.9B | $6.1B | ||
| Q3 25 | $2.6B | $7.1B | ||
| Q2 25 | $3.1B | $7.5B | ||
| Q1 25 | $2.1B | $7.2B | ||
| Q4 24 | $1.8B | $7.7B | ||
| Q3 24 | $1.6B | $6.7B | ||
| Q2 24 | $1.7B | $7.9B | ||
| Q1 24 | $1.7B | $7.9B |
总债务KEYSRIVN
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.8B | $5.5B | ||
| Q1 24 | $1.8B | $4.4B |
股东权益KEYSRIVN
| Q4 25 | $5.9B | $4.6B | ||
| Q3 25 | $5.7B | $5.1B | ||
| Q2 25 | $5.5B | $6.1B | ||
| Q1 25 | $5.2B | $6.2B | ||
| Q4 24 | $5.1B | $6.6B | ||
| Q3 24 | $5.2B | $5.9B | ||
| Q2 24 | $4.9B | $6.8B | ||
| Q1 24 | $4.8B | $8.1B |
总资产KEYSRIVN
| Q4 25 | $11.3B | $14.9B | ||
| Q3 25 | $10.7B | $15.2B | ||
| Q2 25 | $10.5B | $15.6B | ||
| Q1 25 | $9.4B | $15.5B | ||
| Q4 24 | $9.3B | $15.4B | ||
| Q3 24 | $9.3B | $14.3B | ||
| Q2 24 | $9.0B | $15.4B | ||
| Q1 24 | $9.1B | $15.7B |
负债/权益比KEYSRIVN
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.37× | 0.81× | ||
| Q1 24 | 0.38× | 0.55× |
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 | $225.0M | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $187.0M | $-1.1B |
| 自由现金流率自由现金流/营收 | 13.2% | -89.0% |
| 资本支出强度资本支出/营收 | 2.7% | 36.0% |
| 现金转化率经营现金流/净利润 | 0.97× | — |
| 过去12个月自由现金流最近4个季度 | $1.3B | $-2.5B |
8季度趋势，按日历期对齐
经营现金流KEYSRIVN
| Q4 25 | $225.0M | $-681.0M | ||
| Q3 25 | $322.0M | $26.0M | ||
| Q2 25 | $484.0M | $64.0M | ||
| Q1 25 | $378.0M | $-188.0M | ||
| Q4 24 | $359.0M | $1.2B | ||
| Q3 24 | $255.0M | $-876.0M | ||
| Q2 24 | $110.0M | $-754.0M | ||
| Q1 24 | $328.0M | $-1.3B |
自由现金流KEYSRIVN
| Q4 25 | $187.0M | $-1.1B | ||
| Q3 25 | $291.0M | $-421.0M | ||
| Q2 25 | $457.0M | $-398.0M | ||
| Q1 25 | $346.0M | $-526.0M | ||
| Q4 24 | $321.0M | $856.0M | ||
| Q3 24 | $222.0M | $-1.2B | ||
| Q2 24 | $74.0M | $-1.0B | ||
| Q1 24 | $281.0M | $-1.5B |
自由现金流率KEYSRIVN
| Q4 25 | 13.2% | -89.0% | ||
| Q3 25 | 21.5% | -27.0% | ||
| Q2 25 | 35.0% | -30.5% | ||
| Q1 25 | 26.7% | -42.4% | ||
| Q4 24 | 24.9% | 49.4% | ||
| Q3 24 | 18.2% | -131.9% | ||
| Q2 24 | 6.1% | -89.6% | ||
| Q1 24 | 22.3% | -126.5% |
资本支出强度KEYSRIVN
| Q4 25 | 2.7% | 36.0% | ||
| Q3 25 | 2.3% | 28.7% | ||
| Q2 25 | 2.1% | 35.5% | ||
| Q1 25 | 2.5% | 27.3% | ||
| Q4 24 | 3.0% | 18.9% | ||
| Q3 24 | 2.7% | 31.7% | ||
| Q2 24 | 3.0% | 24.4% | ||
| Q1 24 | 3.7% | 21.1% |
现金转化率KEYSRIVN
| Q4 25 | 0.97× | — | ||
| Q3 25 | 1.69× | — | ||
| Q2 25 | 1.88× | — | ||
| Q1 25 | 2.24× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.87× | — | ||
| Q1 24 | 1.91× | — |
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
KEYS
| Transferred At Point In Time | $790.0M | 56% |
| Electronicindustrial | $429.0M | 30% |
| Transferred Over Time | $200.0M | 14% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
