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NCR Atleos Corp（NATL）与NetApp（NTAP）财务数据对比。点击上方公司名可切换其他公司
NetApp的季度营收约是NCR Atleos Corp的1.5倍（$1.7B vs $1.2B），NetApp净利率更高（17.9% vs 7.2%，领先10.7%），NCR Atleos Corp同比增速更快（4.0% vs 2.8%），NCR Atleos Corp自由现金流更多（$194.0M vs $78.0M），过去两年NCR Atleos Corp的营收复合增速更高（4.9% vs 3.0%）
NCR Atleos Corp 前身为NCR公司（National Cash Register），是全球知名的软件、咨询与技术企业，提供多元专业服务与电子产品，业务覆盖自助服务 kiosk、销售点终端、自动柜员机、支票处理系统、条码扫描器等商用软硬件的研发与生产，服务全球各行业客户的数字化运营需求。
NetApp是总部位于美国加利福尼亚州圣何塞的企业级数据基础设施服务商，成立于1992年，2012至2021年连续入选《财富》世界500强。公司面向全球企业客户提供统一数据存储、集成数据服务及云运营解决方案，可满足线上线下全场景的应用与数据管理需求。
NATL vs NTAP — 直观对比
营收规模更大
NTAP
是对方的1.5倍
$1.2B
营收增速更快
NATL
高出1.1%
2.8%
净利率更高
NTAP
高出10.7%
7.2%
自由现金流更多
NATL
多$116.0M
$78.0M
两年增速更快
NATL
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | $83.0M | $305.0M |
| 毛利率 | — | 72.0% |
| 营业利润率 | 13.5% | 23.4% |
| 净利率 | 7.2% | 17.9% |
| 营收同比 | 4.0% | 2.8% |
| 净利润同比 | 102.4% | 2.0% |
| 每股收益（稀释后） | $1.09 | $1.51 |
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NATLNTAP
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $979.0M | $1.6B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $1.1B | $1.7B | ||
| Q1 24 | $1.0B | $1.6B |
净利润NATLNTAP
| Q4 25 | $83.0M | $305.0M | ||
| Q3 25 | $26.0M | $233.0M | ||
| Q2 25 | $39.0M | $340.0M | ||
| Q1 25 | $14.0M | $299.0M | ||
| Q4 24 | $41.0M | $299.0M | ||
| Q3 24 | $21.0M | $248.0M | ||
| Q2 24 | $27.0M | $291.0M | ||
| Q1 24 | $-9.0M | $313.0M |
毛利率NATLNTAP
| Q4 25 | — | 72.0% | ||
| Q3 25 | — | 70.4% | ||
| Q2 25 | — | 68.9% | ||
| Q1 25 | — | 69.8% | ||
| Q4 24 | — | 71.0% | ||
| Q3 24 | — | 71.3% | ||
| Q2 24 | — | 70.5% | ||
| Q1 24 | — | 71.7% |
营业利润率NATLNTAP
| Q4 25 | 13.5% | 23.4% | ||
| Q3 25 | 9.8% | 19.8% | ||
| Q2 25 | 10.8% | 20.1% | ||
| Q1 25 | 9.5% | 22.1% | ||
| Q4 24 | 13.4% | 20.8% | ||
| Q3 24 | 10.6% | 18.3% | ||
| Q2 24 | 9.8% | 21.9% | ||
| Q1 24 | 6.5% | 22.8% |
净利率NATLNTAP
| Q4 25 | 7.2% | 17.9% | ||
| Q3 25 | 2.3% | 14.9% | ||
| Q2 25 | 3.5% | 19.6% | ||
| Q1 25 | 1.4% | 18.2% | ||
| Q4 24 | 3.7% | 18.0% | ||
| Q3 24 | 2.0% | 16.1% | ||
| Q2 24 | 2.5% | 17.4% | ||
| Q1 24 | -0.9% | 19.5% |
每股收益（稀释后）NATLNTAP
| Q4 25 | $1.09 | $1.51 | ||
| Q3 25 | $0.34 | $1.15 | ||
| Q2 25 | $0.52 | $1.64 | ||
| Q1 25 | $0.19 | $1.44 | ||
| Q4 24 | $0.56 | $1.42 | ||
| Q3 24 | $0.28 | $1.17 | ||
| Q2 24 | $0.37 | $1.36 | ||
| Q1 24 | $-0.13 | $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 | $456.0M | $3.0B |
| 总债务越低越好 | $2.7B | $2.5B |
| 股东权益账面价值 | $403.0M | $986.0M |
| 总资产 | $5.7B | $9.6B |
| 负债/权益比越低杠杆越低 | 6.63× | 2.52× |
8季度趋势，按日历期对齐
现金及短期投资NATLNTAP
| Q4 25 | $456.0M | $3.0B | ||
| Q3 25 | $412.0M | $3.3B | ||
| Q2 25 | $357.0M | $3.8B | ||
| Q1 25 | $352.0M | $2.3B | ||
| Q4 24 | $419.0M | $2.2B | ||
| Q3 24 | $395.0M | $3.0B | ||
| Q2 24 | $374.0M | $3.3B | ||
| Q1 24 | $343.0M | $2.9B |
总债务NATLNTAP
| Q4 25 | $2.7B | $2.5B | ||
| Q3 25 | $2.8B | $2.5B | ||
| Q2 25 | $2.8B | $3.2B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $2.9B | $2.0B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.4B |
股东权益NATLNTAP
| Q4 25 | $403.0M | $986.0M | ||
| Q3 25 | $330.0M | $975.0M | ||
| Q2 25 | $350.0M | $1.0B | ||
| Q1 25 | $275.0M | $995.0M | ||
| Q4 24 | $219.0M | $892.0M | ||
| Q3 24 | $264.0M | $929.0M | ||
| Q2 24 | $250.0M | $1.1B | ||
| Q1 24 | $283.0M | $994.0M |
总资产NATLNTAP
| Q4 25 | $5.7B | $9.6B | ||
| Q3 25 | $5.7B | $9.7B | ||
| Q2 25 | $5.8B | $10.8B | ||
| Q1 25 | $5.7B | $9.0B | ||
| Q4 24 | $5.5B | $9.0B | ||
| Q3 24 | $5.7B | $9.3B | ||
| Q2 24 | $5.8B | $9.9B | ||
| Q1 24 | $5.8B | $9.4B |
负债/权益比NATLNTAP
| Q4 25 | 6.63× | 2.52× | ||
| Q3 25 | 8.45× | 2.55× | ||
| Q2 25 | 8.05× | 3.11× | ||
| Q1 25 | — | 2.00× | ||
| Q4 24 | 13.05× | 2.23× | ||
| Q3 24 | — | 2.58× | ||
| Q2 24 | — | 2.09× | ||
| Q1 24 | — | 2.41× |
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 | $231.0M | $127.0M |
| 自由现金流经营现金流 - 资本支出 | $194.0M | $78.0M |
| 自由现金流率自由现金流/营收 | 16.8% | 4.6% |
| 资本支出强度资本支出/营收 | 3.2% | 2.9% |
| 现金转化率经营现金流/净利润 | 2.78× | 0.42× |
| 过去12个月自由现金流最近4个季度 | $239.0M | — |
8季度趋势，按日历期对齐
经营现金流NATLNTAP
| Q4 25 | $231.0M | $127.0M | ||
| Q3 25 | $25.0M | $673.0M | ||
| Q2 25 | $-23.0M | — | ||
| Q1 25 | $123.0M | $385.0M | ||
| Q4 24 | $80.0M | — | ||
| Q3 24 | $107.0M | $341.0M | ||
| Q2 24 | $9.0M | $613.0M | ||
| Q1 24 | $148.0M | $484.0M |
自由现金流NATLNTAP
| Q4 25 | $194.0M | $78.0M | ||
| Q3 25 | $-5.0M | $620.0M | ||
| Q2 25 | $-44.0M | — | ||
| Q1 25 | $94.0M | $338.0M | ||
| Q4 24 | $62.0M | — | ||
| Q3 24 | $85.0M | $300.0M | ||
| Q2 24 | $-14.0M | $567.0M | ||
| Q1 24 | $124.0M | $448.0M |
自由现金流率NATLNTAP
| Q4 25 | 16.8% | 4.6% | ||
| Q3 25 | -0.4% | 39.8% | ||
| Q2 25 | -4.0% | — | ||
| Q1 25 | 9.6% | 20.6% | ||
| Q4 24 | 5.6% | — | ||
| Q3 24 | 7.9% | 19.5% | ||
| Q2 24 | -1.3% | 34.0% | ||
| Q1 24 | 11.9% | 27.9% |
资本支出强度NATLNTAP
| Q4 25 | 3.2% | 2.9% | ||
| Q3 25 | 2.7% | 3.4% | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 3.0% | 2.9% | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 2.1% | 2.7% | ||
| Q2 24 | 2.1% | 2.8% | ||
| Q1 24 | 2.3% | 2.2% |
现金转化率NATLNTAP
| Q4 25 | 2.78× | 0.42× | ||
| Q3 25 | 0.96× | 2.89× | ||
| Q2 25 | -0.59× | — | ||
| Q1 25 | 8.79× | 1.29× | ||
| Q4 24 | 1.95× | — | ||
| Q3 24 | 5.10× | 1.38× | ||
| Q2 24 | 0.33× | 2.11× | ||
| Q1 24 | — | 1.55× |
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
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
NTAP
| Products | $788.0M | 46% |
| Support | $647.0M | 38% |
| Public Cloud Segment | $171.0M | 10% |
| Professional And Other Services | $99.0M | 6% |
