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微策略（MSTR）与Tecnoglass Inc.（TGLS）财务数据对比。点击上方公司名可切换其他公司
Tecnoglass Inc.的季度营收约是微策略的2.0倍（$245.3M vs $123.0M），Tecnoglass Inc.同比增速更快（2.4% vs 1.9%），过去两年Tecnoglass Inc.的营收复合增速更高（12.8% vs 3.3%）
Strategy Inc（原名为微策略）是1989年成立的美国上市企业，主营商业智能与移动软件业务，旗下产品可帮助企业分析内外部数据以支撑经营决策，还可用于移动应用开发，总部位于弗吉尼亚州泰森斯角，商业分析赛道核心竞品包括SAP等。
Tecnoglass Inc.是一家领先的建筑玻璃、铝制门窗及相关建材生产商，主要服务北美及拉美地区的住宅和商业建筑领域，为新建及翻新项目提供定制化、高能效的建筑解决方案。
MSTR vs TGLS — 直观对比
营收规模更大
TGLS
是对方的2.0倍
$123.0M
营收增速更快
TGLS
高出0.5%
1.9%
两年增速更快
TGLS
近两年复合增速
3.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $123.0M | $245.3M |
| 净利润 | — | $26.1M |
| 毛利率 | 66.1% | 40.0% |
| 营业利润率 | — | 18.3% |
| 净利率 | — | 10.6% |
| 营收同比 | 1.9% | 2.4% |
| 净利润同比 | — | -44.5% |
| 每股收益（稀释后） | — | $0.57 |
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MSTRTGLS
| Q4 25 | $123.0M | $245.3M | ||
| Q3 25 | $128.7M | $260.5M | ||
| Q2 25 | $114.5M | $255.5M | ||
| Q1 25 | $111.1M | $222.3M | ||
| Q4 24 | $120.7M | $239.6M | ||
| Q3 24 | $116.1M | $238.3M | ||
| Q2 24 | $111.4M | $219.7M | ||
| Q1 24 | $115.2M | $192.6M |
净利润MSTRTGLS
| Q4 25 | — | $26.1M | ||
| Q3 25 | $2.8B | $47.2M | ||
| Q2 25 | $10.0B | $44.1M | ||
| Q1 25 | $-4.2B | $42.2M | ||
| Q4 24 | $-670.8M | $47.0M | ||
| Q3 24 | $-340.2M | $49.5M | ||
| Q2 24 | $-102.6M | $35.0M | ||
| Q1 24 | $-53.1M | $29.7M |
毛利率MSTRTGLS
| Q4 25 | 66.1% | 40.0% | ||
| Q3 25 | 70.5% | 42.7% | ||
| Q2 25 | 68.8% | 44.7% | ||
| Q1 25 | 69.4% | 43.9% | ||
| Q4 24 | 71.7% | 44.5% | ||
| Q3 24 | 70.4% | 45.8% | ||
| Q2 24 | 72.2% | 40.8% | ||
| Q1 24 | 74.0% | 38.8% |
营业利润率MSTRTGLS
| Q4 25 | — | 18.3% | ||
| Q3 25 | — | 25.1% | ||
| Q2 25 | — | 24.0% | ||
| Q1 25 | -5331.4% | 26.7% | ||
| Q4 24 | -842.1% | 28.0% | ||
| Q3 24 | -372.7% | 28.4% | ||
| Q2 24 | -179.7% | 23.3% | ||
| Q1 24 | -176.8% | 21.3% |
净利率MSTRTGLS
| Q4 25 | — | 10.6% | ||
| Q3 25 | 2164.1% | 18.1% | ||
| Q2 25 | 8752.7% | 17.3% | ||
| Q1 25 | -3797.2% | 19.0% | ||
| Q4 24 | -555.8% | 19.6% | ||
| Q3 24 | -293.1% | 20.8% | ||
| Q2 24 | -92.0% | 15.9% | ||
| Q1 24 | -46.1% | 15.4% |
每股收益（稀释后）MSTRTGLS
| Q4 25 | — | $0.57 | ||
| Q3 25 | $8.42 | $1.01 | ||
| Q2 25 | $32.60 | $0.94 | ||
| Q1 25 | $-16.49 | $0.90 | ||
| Q4 24 | $4.49 | $1.00 | ||
| Q3 24 | $-1.72 | $1.05 | ||
| Q2 24 | $-0.57 | $0.75 | ||
| Q1 24 | $-0.31 | $0.63 |
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 | $2.3B | $104.1M |
| 总债务越低越好 | $8.2B | $174.4M |
| 股东权益账面价值 | $44.1B | $713.1M |
| 总资产 | $61.6B | $1.3B |
| 负债/权益比越低杠杆越低 | 0.19× | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资MSTRTGLS
| Q4 25 | $2.3B | $104.1M | ||
| Q3 25 | $54.3M | $127.1M | ||
| Q2 25 | $50.1M | $140.9M | ||
| Q1 25 | $60.3M | $160.2M | ||
| Q4 24 | $38.1M | $137.5M | ||
| Q3 24 | $46.3M | $124.8M | ||
| Q2 24 | $66.9M | $129.5M | ||
| Q1 24 | $81.3M | $138.8M |
总债务MSTRTGLS
| Q4 25 | $8.2B | $174.4M | ||
| Q3 25 | $8.2B | $114.7M | ||
| Q2 25 | $8.2B | $110.6M | ||
| Q1 25 | $8.1B | $110.6M | ||
| Q4 24 | $7.2B | $111.1M | ||
| Q3 24 | $4.2B | $126.8M | ||
| Q2 24 | $3.8B | $144.7M | ||
| Q1 24 | $3.6B | $160.9M |
股东权益MSTRTGLS
| Q4 25 | $44.1B | $713.1M | ||
| Q3 25 | $52.3B | $764.0M | ||
| Q2 25 | $47.5B | $736.0M | ||
| Q1 25 | $32.2B | $685.1M | ||
| Q4 24 | $18.2B | $631.2M | ||
| Q3 24 | $3.8B | $613.3M | ||
| Q2 24 | $2.8B | $574.8M | ||
| Q1 24 | $2.4B | $573.6M |
总资产MSTRTGLS
| Q4 25 | $61.6B | $1.3B | ||
| Q3 25 | $73.6B | $1.2B | ||
| Q2 25 | $64.8B | $1.2B | ||
| Q1 25 | $43.9B | $1.1B | ||
| Q4 24 | $25.8B | $1.0B | ||
| Q3 24 | $8.3B | $996.3M | ||
| Q2 24 | $7.1B | $942.5M | ||
| Q1 24 | $6.4B | $981.6M |
负债/权益比MSTRTGLS
| Q4 25 | 0.19× | 0.24× | ||
| Q3 25 | 0.16× | 0.15× | ||
| Q2 25 | 0.17× | 0.15× | ||
| Q1 25 | 0.25× | 0.16× | ||
| Q4 24 | 0.39× | 0.18× | ||
| Q3 24 | 1.12× | 0.21× | ||
| Q2 24 | 1.36× | 0.25× | ||
| Q1 24 | 1.48× | 0.28× |
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 | — | $31.0M |
| 自由现金流经营现金流 - 资本支出 | — | $11.4M |
| 自由现金流率自由现金流/营收 | — | 4.7% |
| 资本支出强度资本支出/营收 | — | 8.0% |
| 现金转化率经营现金流/净利润 | — | 1.19× |
| 过去12个月自由现金流最近4个季度 | — | $34.5M |
8季度趋势，按日历期对齐
经营现金流MSTRTGLS
| Q4 25 | — | $31.0M | ||
| Q3 25 | $-8.3M | $40.0M | ||
| Q2 25 | $-34.9M | $17.9M | ||
| Q1 25 | $-2.4M | $46.9M | ||
| Q4 24 | $-17.3M | $61.1M | ||
| Q3 24 | $-41.0M | $41.5M | ||
| Q2 24 | $-23.3M | $34.5M | ||
| Q1 24 | $28.6M | $33.4M |
自由现金流MSTRTGLS
| Q4 25 | — | $11.4M | ||
| Q3 25 | $-11.1M | $21.2M | ||
| Q2 25 | $-37.0M | $-14.7M | ||
| Q1 25 | $-5.1M | $16.5M | ||
| Q4 24 | $-17.6M | $35.4M | ||
| Q3 24 | $-41.4M | $17.8M | ||
| Q2 24 | $-24.1M | $14.2M | ||
| Q1 24 | $27.0M | $23.6M |
自由现金流率MSTRTGLS
| Q4 25 | — | 4.7% | ||
| Q3 25 | -8.6% | 8.2% | ||
| Q2 25 | -32.3% | -5.7% | ||
| Q1 25 | -4.6% | 7.4% | ||
| Q4 24 | -14.6% | 14.8% | ||
| Q3 24 | -35.7% | 7.5% | ||
| Q2 24 | -21.6% | 6.5% | ||
| Q1 24 | 23.5% | 12.2% |
资本支出强度MSTRTGLS
| Q4 25 | — | 8.0% | ||
| Q3 25 | 2.2% | 7.2% | ||
| Q2 25 | 1.8% | 12.7% | ||
| Q1 25 | 2.5% | 13.7% | ||
| Q4 24 | 0.2% | 10.7% | ||
| Q3 24 | 0.4% | 9.9% | ||
| Q2 24 | 0.6% | 9.2% | ||
| Q1 24 | 1.3% | 5.1% |
现金转化率MSTRTGLS
| Q4 25 | — | 1.19× | ||
| Q3 25 | -0.00× | 0.85× | ||
| Q2 25 | -0.00× | 0.41× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.98× | ||
| Q1 24 | — | 1.13× |
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
MSTR
暂无分部数据
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
