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奥飞娱乐（MAX）与Shoals Technologies Group, Inc.（SHLS）财务数据对比。点击上方公司名可切换其他公司
奥飞娱乐的季度营收约是Shoals Technologies Group, Inc.的2.0倍（$291.2M vs $148.3M），奥飞娱乐净利率更高（10.8% vs 5.5%，领先5.3%），Shoals Technologies Group, Inc.同比增速更快（38.6% vs -3.2%），奥飞娱乐自由现金流更多（$-7.5M vs $-11.3M），过去两年奥飞娱乐的营收复合增速更高（51.6% vs 27.8%）
奥飞娱乐股份有限公司由蔡东青于1993年创立，是一家中国跨国综合企业集团，主营动漫、玩具、传媒资产与娱乐业务，2016年由原奥飞动漫更名而来。集团拥有国漫平台有妖气，还在美国设有影视公司奥飞影业，并宣布将在美国设立动漫业务部门。
Shoals科技集团是可再生能源及电动出行领域的电气系统平衡解决方案供应商，核心产品覆盖光伏、储能及充电桩用连接组件，主要服务北美、欧洲、亚太市场的公用事业、工商业及民用客户。
MAX vs SHLS — 直观对比
营收规模更大
MAX
是对方的2.0倍
$148.3M
营收增速更快
SHLS
高出41.8%
-3.2%
净利率更高
MAX
高出5.3%
5.5%
自由现金流更多
MAX
多$3.8M
$-11.3M
两年增速更快
MAX
近两年复合增速
27.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.2M | $148.3M |
| 净利润 | $31.4M | $8.1M |
| 毛利率 | 15.4% | 31.6% |
| 营业利润率 | 7.7% | 11.7% |
| 净利率 | 10.8% | 5.5% |
| 营收同比 | -3.2% | 38.6% |
| 净利润同比 | 576.9% | 3.9% |
| 每股收益（稀释后） | $0.50 | $0.05 |
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MAXSHLS
| Q4 25 | $291.2M | $148.3M | ||
| Q3 25 | $306.5M | $135.8M | ||
| Q2 25 | $251.6M | $110.8M | ||
| Q1 25 | $264.3M | $80.4M | ||
| Q4 24 | $300.6M | $107.0M | ||
| Q3 24 | $259.1M | $102.2M | ||
| Q2 24 | $178.3M | $99.2M | ||
| Q1 24 | $126.6M | $90.8M |
净利润MAXSHLS
| Q4 25 | $31.4M | $8.1M | ||
| Q3 25 | $14.9M | $11.9M | ||
| Q2 25 | $-18.7M | $13.9M | ||
| Q1 25 | $-1.9M | $-282.0K | ||
| Q4 24 | $4.6M | $7.8M | ||
| Q3 24 | $9.5M | $-267.0K | ||
| Q2 24 | $3.6M | $11.8M | ||
| Q1 24 | $-1.1M | $4.8M |
毛利率MAXSHLS
| Q4 25 | 15.4% | 31.6% | ||
| Q3 25 | 14.2% | 37.0% | ||
| Q2 25 | 15.0% | 37.2% | ||
| Q1 25 | 15.8% | 35.0% | ||
| Q4 24 | 16.3% | 37.6% | ||
| Q3 24 | 15.1% | 24.8% | ||
| Q2 24 | 17.8% | 40.3% | ||
| Q1 24 | 18.7% | 40.2% |
营业利润率MAXSHLS
| Q4 25 | 7.7% | 11.7% | ||
| Q3 25 | 6.4% | 13.7% | ||
| Q2 25 | -8.0% | 14.4% | ||
| Q1 25 | 0.0% | 5.4% | ||
| Q4 24 | 6.1% | 15.4% | ||
| Q3 24 | 6.0% | 4.4% | ||
| Q2 24 | 3.6% | 18.7% | ||
| Q1 24 | 1.9% | 12.8% |
净利率MAXSHLS
| Q4 25 | 10.8% | 5.5% | ||
| Q3 25 | 4.9% | 8.7% | ||
| Q2 25 | -7.4% | 12.5% | ||
| Q1 25 | -0.7% | -0.4% | ||
| Q4 24 | 1.5% | 7.3% | ||
| Q3 24 | 3.7% | -0.3% | ||
| Q2 24 | 2.0% | 11.9% | ||
| Q1 24 | -0.9% | 5.3% |
每股收益（稀释后）MAXSHLS
| Q4 25 | $0.50 | $0.05 | ||
| Q3 25 | $0.26 | $0.07 | ||
| Q2 25 | $-0.33 | $0.08 | ||
| Q1 25 | $-0.04 | $0.00 | ||
| Q4 24 | $0.09 | $0.04 | ||
| Q3 24 | $0.17 | $0.00 | ||
| Q2 24 | $0.07 | $0.07 | ||
| Q1 24 | $-0.02 | $0.03 |
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 | $46.9M | $7.3M |
| 总债务越低越好 | $153.4M | — |
| 股东权益账面价值 | $4.2M | $600.0M |
| 总资产 | $383.8M | $904.1M |
| 负债/权益比越低杠杆越低 | 36.88× | — |
8季度趋势，按日历期对齐
现金及短期投资MAXSHLS
| Q4 25 | $46.9M | $7.3M | ||
| Q3 25 | $38.8M | $8.6M | ||
| Q2 25 | $85.4M | $4.7M | ||
| Q1 25 | $63.6M | $35.6M | ||
| Q4 24 | $43.3M | $23.5M | ||
| Q3 24 | $32.3M | $11.1M | ||
| Q2 24 | $28.7M | $3.2M | ||
| Q1 24 | $14.5M | $15.2M |
总债务MAXSHLS
| Q4 25 | $153.4M | — | ||
| Q3 25 | $155.7M | — | ||
| Q2 25 | $158.0M | — | ||
| Q1 25 | $160.2M | $141.8M | ||
| Q4 24 | $162.4M | $141.8M | ||
| Q3 24 | $164.7M | $141.8M | ||
| Q2 24 | $166.9M | $146.8M | ||
| Q1 24 | $172.1M | $168.8M |
股东权益MAXSHLS
| Q4 25 | $4.2M | $600.0M | ||
| Q3 25 | $-29.8M | $589.6M | ||
| Q2 25 | $-3.8M | $575.4M | ||
| Q1 25 | $7.9M | $558.9M | ||
| Q4 24 | $2.4M | $556.8M | ||
| Q3 24 | $-8.4M | $545.2M | ||
| Q2 24 | $-24.4M | $544.6M | ||
| Q1 24 | $-19.1M | $554.0M |
总资产MAXSHLS
| Q4 25 | $383.8M | $904.1M | ||
| Q3 25 | $266.2M | $851.8M | ||
| Q2 25 | $249.4M | $795.0M | ||
| Q1 25 | $240.0M | $788.4M | ||
| Q4 24 | $262.4M | $793.1M | ||
| Q3 24 | $236.1M | $801.3M | ||
| Q2 24 | $198.2M | $788.4M | ||
| Q1 24 | $153.0M | $825.3M |
负债/权益比MAXSHLS
| Q4 25 | 36.88× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 20.23× | 0.25× | ||
| Q4 24 | 68.31× | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.30× |
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 | $-7.4M | $-4.1M |
| 自由现金流经营现金流 - 资本支出 | $-7.5M | $-11.3M |
| 自由现金流率自由现金流/营收 | -2.6% | -7.6% |
| 资本支出强度资本支出/营收 | 0.0% | 4.8% |
| 现金转化率经营现金流/净利润 | -0.24× | -0.50× |
| 过去12个月自由现金流最近4个季度 | $65.3M | $-16.0M |
8季度趋势，按日历期对齐
经营现金流MAXSHLS
| Q4 25 | $-7.4M | $-4.1M | ||
| Q3 25 | $23.6M | $19.4M | ||
| Q2 25 | $25.7M | $-13.8M | ||
| Q1 25 | $23.7M | $15.6M | ||
| Q4 24 | $14.5M | $14.0M | ||
| Q3 24 | $8.1M | $15.7M | ||
| Q2 24 | $21.6M | $37.8M | ||
| Q1 24 | $1.7M | $12.9M |
自由现金流MAXSHLS
| Q4 25 | $-7.5M | $-11.3M | ||
| Q3 25 | $23.6M | $9.0M | ||
| Q2 25 | $25.5M | $-26.0M | ||
| Q1 25 | $23.6M | $12.3M | ||
| Q4 24 | $14.5M | $12.5M | ||
| Q3 24 | $8.0M | $13.3M | ||
| Q2 24 | $21.5M | $35.8M | ||
| Q1 24 | $1.6M | $10.4M |
自由现金流率MAXSHLS
| Q4 25 | -2.6% | -7.6% | ||
| Q3 25 | 7.7% | 6.6% | ||
| Q2 25 | 10.2% | -23.5% | ||
| Q1 25 | 8.9% | 15.4% | ||
| Q4 24 | 4.8% | 11.6% | ||
| Q3 24 | 3.1% | 13.0% | ||
| Q2 24 | 12.0% | 36.1% | ||
| Q1 24 | 1.3% | 11.4% |
资本支出强度MAXSHLS
| Q4 25 | 0.0% | 4.8% | ||
| Q3 25 | 0.0% | 7.7% | ||
| Q2 25 | 0.1% | 11.0% | ||
| Q1 25 | 0.0% | 4.0% | ||
| Q4 24 | 0.0% | 1.4% | ||
| Q3 24 | 0.0% | 2.3% | ||
| Q2 24 | 0.1% | 2.0% | ||
| Q1 24 | 0.0% | 2.7% |
现金转化率MAXSHLS
| Q4 25 | -0.24× | -0.50× | ||
| Q3 25 | 1.58× | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.13× | 1.79× | ||
| Q3 24 | 0.85× | — | ||
| Q2 24 | 5.97× | 3.21× | ||
| Q1 24 | — | 2.69× |
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
MAX
| Property And Casualty Insurance | $264.8M | 91% |
| Health Insurance | $20.8M | 7% |
| Sales Channel Through Intermediary | $7.2M | 2% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
