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NetApp（NTAP）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
NetApp的季度营收约是利氏兄弟拍卖行的1.4倍（$1.7B vs $1.2B），NetApp净利率更高（17.9% vs 9.1%，领先8.8%），利氏兄弟拍卖行同比增速更快（5.4% vs 2.8%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $78.0M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% vs 3.0%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
NTAP vs RBA — 直观对比
营收规模更大
NTAP
是对方的1.4倍
$1.2B
营收增速更快
RBA
高出2.6%
2.8%
净利率更高
NTAP
高出8.8%
9.1%
自由现金流更多
RBA
多$108.5M
$78.0M
两年增速更快
RBA
近两年复合增速
3.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $305.0M | $109.7M |
| 毛利率 | 72.0% | — |
| 营业利润率 | 23.4% | 14.7% |
| 净利率 | 17.9% | 9.1% |
| 营收同比 | 2.8% | 5.4% |
| 净利润同比 | 2.0% | -7.4% |
| 每股收益（稀释后） | $1.51 | $0.53 |
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NTAPRBA
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.6B | $1.1B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.7B | $1.1B | ||
| Q3 24 | $1.5B | $981.8M | ||
| Q2 24 | $1.7B | $1.1B | ||
| Q1 24 | $1.6B | $1.1B |
净利润NTAPRBA
| Q4 25 | $305.0M | $109.7M | ||
| Q3 25 | $233.0M | $95.5M | ||
| Q2 25 | $340.0M | $109.8M | ||
| Q1 25 | $299.0M | $113.4M | ||
| Q4 24 | $299.0M | $118.5M | ||
| Q3 24 | $248.0M | $76.1M | ||
| Q2 24 | $291.0M | $111.1M | ||
| Q1 24 | $313.0M | $107.4M |
毛利率NTAPRBA
| 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NTAPRBA
| Q4 25 | 23.4% | 14.7% | ||
| Q3 25 | 19.8% | 14.5% | ||
| Q2 25 | 20.1% | 15.9% | ||
| Q1 25 | 22.1% | 17.1% | ||
| Q4 24 | 20.8% | 18.1% | ||
| Q3 24 | 18.3% | 15.6% | ||
| Q2 24 | 21.9% | 18.4% | ||
| Q1 24 | 22.8% | 18.7% |
净利率NTAPRBA
| Q4 25 | 17.9% | 9.1% | ||
| Q3 25 | 14.9% | 8.7% | ||
| Q2 25 | 19.6% | 9.3% | ||
| Q1 25 | 18.2% | 10.2% | ||
| Q4 24 | 18.0% | 10.4% | ||
| Q3 24 | 16.1% | 7.8% | ||
| Q2 24 | 17.4% | 10.1% | ||
| Q1 24 | 19.5% | 10.1% |
每股收益（稀释后）NTAPRBA
| Q4 25 | $1.51 | $0.53 | ||
| Q3 25 | $1.15 | $0.43 | ||
| Q2 25 | $1.64 | $0.53 | ||
| Q1 25 | $1.44 | $0.55 | ||
| Q4 24 | $1.42 | $0.58 | ||
| Q3 24 | $1.17 | $0.36 | ||
| Q2 24 | $1.36 | $0.54 | ||
| Q1 24 | $1.48 | $0.53 |
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 | $3.0B | $531.5M |
| 总债务越低越好 | $2.5B | $2.3B |
| 股东权益账面价值 | $986.0M | $5.6B |
| 总资产 | $9.6B | $12.1B |
| 负债/权益比越低杠杆越低 | 2.52× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资NTAPRBA
| Q4 25 | $3.0B | $531.5M | ||
| Q3 25 | $3.3B | $674.7M | ||
| Q2 25 | $3.8B | $710.2M | ||
| Q1 25 | $2.3B | $578.1M | ||
| Q4 24 | $2.2B | $533.9M | ||
| Q3 24 | $3.0B | $650.7M | ||
| Q2 24 | $3.3B | $599.5M | ||
| Q1 24 | $2.9B | $462.8M |
总债务NTAPRBA
| Q4 25 | $2.5B | $2.3B | ||
| Q3 25 | $2.5B | $2.6B | ||
| Q2 25 | $3.2B | $2.6B | ||
| Q1 25 | $2.0B | $2.6B | ||
| Q4 24 | $2.0B | $2.6B | ||
| Q3 24 | $2.4B | $2.7B | ||
| Q2 24 | $2.4B | $2.8B | ||
| Q1 24 | $2.4B | $2.9B |
股东权益NTAPRBA
| Q4 25 | $986.0M | $5.6B | ||
| Q3 25 | $975.0M | $5.5B | ||
| Q2 25 | $1.0B | $5.5B | ||
| Q1 25 | $995.0M | $5.3B | ||
| Q4 24 | $892.0M | $5.2B | ||
| Q3 24 | $929.0M | $5.2B | ||
| Q2 24 | $1.1B | $5.2B | ||
| Q1 24 | $994.0M | $5.1B |
总资产NTAPRBA
| Q4 25 | $9.6B | $12.1B | ||
| Q3 25 | $9.7B | $12.2B | ||
| Q2 25 | $10.8B | $12.2B | ||
| Q1 25 | $9.0B | $11.9B | ||
| Q4 24 | $9.0B | $11.8B | ||
| Q3 24 | $9.3B | $11.9B | ||
| Q2 24 | $9.9B | $12.1B | ||
| Q1 24 | $9.4B | $12.0B |
负债/权益比NTAPRBA
| Q4 25 | 2.52× | 0.42× | ||
| Q3 25 | 2.55× | 0.47× | ||
| Q2 25 | 3.11× | 0.47× | ||
| Q1 25 | 2.00× | 0.50× | ||
| Q4 24 | 2.23× | 0.50× | ||
| Q3 24 | 2.58× | 0.52× | ||
| Q2 24 | 2.09× | 0.55× | ||
| Q1 24 | 2.41× | 0.58× |
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 | $127.0M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $78.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 4.6% | 15.5% |
| 资本支出强度资本支出/营收 | 2.9% | 5.7% |
| 现金转化率经营现金流/净利润 | 0.42× | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流NTAPRBA
| Q4 25 | $127.0M | $255.2M | ||
| Q3 25 | $673.0M | $239.7M | ||
| Q2 25 | — | $326.5M | ||
| Q1 25 | $385.0M | $156.8M | ||
| Q4 24 | — | $184.5M | ||
| Q3 24 | $341.0M | $285.4M | ||
| Q2 24 | $613.0M | $337.3M | ||
| Q1 24 | $484.0M | $124.8M |
自由现金流NTAPRBA
| Q4 25 | $78.0M | $186.5M | ||
| Q3 25 | $620.0M | $188.5M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | $338.0M | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | $300.0M | $248.5M | ||
| Q2 24 | $567.0M | $308.6M | ||
| Q1 24 | $448.0M | $79.6M |
自由现金流率NTAPRBA
| Q4 25 | 4.6% | 15.5% | ||
| Q3 25 | 39.8% | 17.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | 20.6% | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | 19.5% | 25.3% | ||
| Q2 24 | 34.0% | 28.2% | ||
| Q1 24 | 27.9% | 7.5% |
资本支出强度NTAPRBA
| Q4 25 | 2.9% | 5.7% | ||
| Q3 25 | 3.4% | 4.7% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | 2.9% | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | 2.7% | 3.8% | ||
| Q2 24 | 2.8% | 2.6% | ||
| Q1 24 | 2.2% | 4.2% |
现金转化率NTAPRBA
| Q4 25 | 0.42× | 2.33× | ||
| Q3 25 | 2.89× | 2.51× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | 1.29× | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 1.38× | 3.75× | ||
| Q2 24 | 2.11× | 3.04× | ||
| Q1 24 | 1.55× | 1.16× |
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
NTAP
| Products | $788.0M | 46% |
| Support | $647.0M | 38% |
| Public Cloud Segment | $171.0M | 10% |
| Professional And Other Services | $99.0M | 6% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
