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NetApp（NTAP）与Ulta Beauty（ULTA）财务数据对比。点击上方公司名可切换其他公司
Ulta Beauty的季度营收约是NetApp的1.7倍（$2.9B vs $1.7B），NetApp净利率更高（17.9% vs 8.1%，领先9.8%），Ulta Beauty同比增速更快（12.9% vs 2.8%），NetApp自由现金流更多（$78.0M vs $-81.6M），过去两年Ulta Beauty的营收复合增速更高（7.2% 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。
Ulta Beauty是美国头部美妆连锁品牌，总部位于伊利诺伊州博林布鲁克，旗下门店在售商品覆盖高低端彩妆、香水、美甲、身体护理、美发产品及美妆工具等全品类美妆个护产品，每家门店均配备对外开放的美容沙龙，为消费者提供一站式美妆消费及服务体验。
NTAP vs ULTA — 直观对比
营收规模更大
ULTA
是对方的1.7倍
$1.7B
营收增速更快
ULTA
高出10.1%
2.8%
净利率更高
NTAP
高出9.8%
8.1%
自由现金流更多
NTAP
多$159.6M
$-81.6M
两年增速更快
ULTA
近两年复合增速
3.0%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.9B |
| 净利润 | $305.0M | $230.9M |
| 毛利率 | 72.0% | 40.4% |
| 营业利润率 | 23.4% | 10.8% |
| 净利率 | 17.9% | 8.1% |
| 营收同比 | 2.8% | 12.9% |
| 净利润同比 | 2.0% | -4.7% |
| 每股收益（稀释后） | $1.51 | $5.14 |
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NTAPULTA
| Q4 25 | $1.7B | $2.9B | ||
| Q3 25 | $1.6B | $2.8B | ||
| Q2 25 | $1.7B | $2.8B | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.7B | $2.5B | ||
| Q3 24 | $1.5B | $2.6B | ||
| Q2 24 | $1.7B | $2.7B | ||
| Q1 24 | $1.6B | $3.6B |
净利润NTAPULTA
| Q4 25 | $305.0M | $230.9M | ||
| Q3 25 | $233.0M | $260.9M | ||
| Q2 25 | $340.0M | $305.1M | ||
| Q1 25 | $299.0M | — | ||
| Q4 24 | $299.0M | $242.2M | ||
| Q3 24 | $248.0M | $252.6M | ||
| Q2 24 | $291.0M | $313.1M | ||
| Q1 24 | $313.0M | $394.4M |
毛利率NTAPULTA
| Q4 25 | 72.0% | 40.4% | ||
| Q3 25 | 70.4% | 39.2% | ||
| Q2 25 | 68.9% | 39.1% | ||
| Q1 25 | 69.8% | — | ||
| Q4 24 | 71.0% | 39.7% | ||
| Q3 24 | 71.3% | 38.3% | ||
| Q2 24 | 70.5% | 39.2% | ||
| Q1 24 | 71.7% | 37.7% |
营业利润率NTAPULTA
| Q4 25 | 23.4% | 10.8% | ||
| Q3 25 | 19.8% | 12.4% | ||
| Q2 25 | 20.1% | 14.1% | ||
| Q1 25 | 22.1% | — | ||
| Q4 24 | 20.8% | 12.6% | ||
| Q3 24 | 18.3% | 12.9% | ||
| Q2 24 | 21.9% | 14.7% | ||
| Q1 24 | 22.8% | 14.5% |
净利率NTAPULTA
| Q4 25 | 17.9% | 8.1% | ||
| Q3 25 | 14.9% | 9.4% | ||
| Q2 25 | 19.6% | 10.7% | ||
| Q1 25 | 18.2% | — | ||
| Q4 24 | 18.0% | 9.6% | ||
| Q3 24 | 16.1% | 9.9% | ||
| Q2 24 | 17.4% | 11.5% | ||
| Q1 24 | 19.5% | 11.1% |
每股收益（稀释后）NTAPULTA
| Q4 25 | $1.51 | $5.14 | ||
| Q3 25 | $1.15 | $5.78 | ||
| Q2 25 | $1.64 | $6.70 | ||
| Q1 25 | $1.44 | — | ||
| Q4 24 | $1.42 | $5.14 | ||
| Q3 24 | $1.17 | $5.30 | ||
| Q2 24 | $1.36 | $6.47 | ||
| Q1 24 | $1.48 | $8.06 |
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 | $204.9M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $986.0M | $2.6B |
| 总资产 | $9.6B | $7.0B |
| 负债/权益比越低杠杆越低 | 2.52× | — |
8季度趋势，按日历期对齐
现金及短期投资NTAPULTA
| Q4 25 | $3.0B | $204.9M | ||
| Q3 25 | $3.3B | $242.7M | ||
| Q2 25 | $3.8B | $454.6M | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.2B | $177.8M | ||
| Q3 24 | $3.0B | $414.0M | ||
| Q2 24 | $3.3B | $524.6M | ||
| Q1 24 | $2.9B | $766.6M |
总债务NTAPULTA
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.4B | — |
股东权益NTAPULTA
| Q4 25 | $986.0M | $2.6B | ||
| Q3 25 | $975.0M | $2.6B | ||
| Q2 25 | $1.0B | $2.4B | ||
| Q1 25 | $995.0M | — | ||
| Q4 24 | $892.0M | $2.3B | ||
| Q3 24 | $929.0M | $2.3B | ||
| Q2 24 | $1.1B | $2.3B | ||
| Q1 24 | $994.0M | $2.3B |
总资产NTAPULTA
| Q4 25 | $9.6B | $7.0B | ||
| Q3 25 | $9.7B | $6.6B | ||
| Q2 25 | $10.8B | $6.0B | ||
| Q1 25 | $9.0B | — | ||
| Q4 24 | $9.0B | $6.0B | ||
| Q3 24 | $9.3B | $5.7B | ||
| Q2 24 | $9.9B | $5.6B | ||
| Q1 24 | $9.4B | $5.7B |
负债/权益比NTAPULTA
| Q4 25 | 2.52× | — | ||
| Q3 25 | 2.55× | — | ||
| Q2 25 | 3.11× | — | ||
| Q1 25 | 2.00× | — | ||
| Q4 24 | 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 | $127.0M | $5.6M |
| 自由现金流经营现金流 - 资本支出 | $78.0M | $-81.6M |
| 自由现金流率自由现金流/营收 | 4.6% | -2.9% |
| 资本支出强度资本支出/营收 | 2.9% | 3.1% |
| 现金转化率经营现金流/净利润 | 0.42× | 0.02× |
| 过去12个月自由现金流最近4个季度 | — | $-92.2M |
8季度趋势，按日历期对齐
经营现金流NTAPULTA
| Q4 25 | $127.0M | $5.6M | ||
| Q3 25 | $673.0M | $96.5M | ||
| Q2 25 | — | $220.0M | ||
| Q1 25 | $385.0M | — | ||
| Q4 24 | — | $-56.8M | ||
| Q3 24 | $341.0M | $199.5M | ||
| Q2 24 | $613.0M | $159.3M | ||
| Q1 24 | $484.0M | $1.1B |
自由现金流NTAPULTA
| Q4 25 | $78.0M | $-81.6M | ||
| Q3 25 | $620.0M | $19.6M | ||
| Q2 25 | — | $141.0M | ||
| Q1 25 | $338.0M | — | ||
| Q4 24 | — | $-171.1M | ||
| Q3 24 | $300.0M | $104.3M | ||
| Q2 24 | $567.0M | $68.3M | ||
| Q1 24 | $448.0M | $994.0M |
自由现金流率NTAPULTA
| Q4 25 | 4.6% | -2.9% | ||
| Q3 25 | 39.8% | 0.7% | ||
| Q2 25 | — | 4.9% | ||
| Q1 25 | 20.6% | — | ||
| Q4 24 | — | -6.8% | ||
| Q3 24 | 19.5% | 4.1% | ||
| Q2 24 | 34.0% | 2.5% | ||
| Q1 24 | 27.9% | 28.0% |
资本支出强度NTAPULTA
| Q4 25 | 2.9% | 3.1% | ||
| Q3 25 | 3.4% | 2.8% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | 2.7% | 3.7% | ||
| Q2 24 | 2.8% | 3.3% | ||
| Q1 24 | 2.2% | 3.5% |
现金转化率NTAPULTA
| Q4 25 | 0.42× | 0.02× | ||
| Q3 25 | 2.89× | 0.37× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | 1.29× | — | ||
| Q4 24 | — | -0.23× | ||
| Q3 24 | 1.38× | 0.79× | ||
| Q2 24 | 2.11× | 0.51× | ||
| Q1 24 | 1.55× | 2.84× |
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% |
ULTA
暂无分部数据
