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AT&T（T）与ZIFF DAVIS, INC.（ZD）财务数据对比。点击上方公司名可切换其他公司
AT&T的季度营收约是ZIFF DAVIS, INC.的77.5倍（$31.5B vs $406.7M）。AT&T净利率更高（13.3% vs 0.1%，领先13.2%）。AT&T同比增速更快（2.9% vs -1.5%）。AT&T自由现金流更多（$2.5B vs $157.8M）。过去两年ZIFF DAVIS, INC.的营收复合增速更高（13.7% vs 2.8%）
AT&T是总部位于美国得克萨斯州达拉斯市中心惠塔克大厦的跨国电信集团，前身为美国电话电报公司。按营收计算，AT&T为全球第三大电信运营商，是美国仅次于T-Mobile和威瑞森的第三大无线运营商，同时也是全美规模最大的光纤互联网服务商。
齐夫戴维斯是美国知名数字媒体及互联网企业，由威廉·伯纳德·齐夫一世与伯纳德·乔治·戴维斯于1927年创立。公司核心业务涵盖科技、健康类媒体网站，线上购物相关服务，互联网接入服务，游戏娱乐品牌，以及网络安全和营销技术工具，早年曾以爱好者类杂志出版为主要业务。
T vs ZD — 直观对比
营收规模更大
T
是对方的77.5倍
$406.7M
营收增速更快
T
高出4.4%
-1.5%
净利率更高
T
高出13.2%
0.1%
自由现金流更多
T
多$2.3B
$157.8M
两年增速更快
ZD
近两年复合增速
2.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $31.5B | $406.7M |
| 净利润 | $4.2B | $370.0K |
| 毛利率 | — | 85.9% |
| 营业利润率 | 21.1% | 21.2% |
| 净利率 | 13.3% | 0.1% |
| 营收同比 | 2.9% | -1.5% |
| 净利润同比 | -10.9% | -99.4% |
| 每股收益（稀释后） | $0.54 | $0.06 |
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TZD
| Q1 26 | $31.5B | — | ||
| Q4 25 | $33.5B | $406.7M | ||
| Q3 25 | $30.7B | $363.7M | ||
| Q2 25 | $30.8B | $352.2M | ||
| Q1 25 | $30.6B | $328.6M | ||
| Q4 24 | $32.3B | $412.8M | ||
| Q3 24 | $30.2B | $353.6M | ||
| Q2 24 | $29.8B | $320.8M |
净利润TZD
| Q1 26 | $4.2B | — | ||
| Q4 25 | $3.8B | $370.0K | ||
| Q3 25 | $9.3B | $-3.6M | ||
| Q2 25 | $4.5B | $26.3M | ||
| Q1 25 | $4.4B | $24.2M | ||
| Q4 24 | $4.1B | $64.1M | ||
| Q3 24 | $-174.0M | $-48.6M | ||
| Q2 24 | $3.6B | $36.9M |
毛利率TZD
| Q1 26 | — | — | ||
| Q4 25 | — | 85.9% | ||
| Q3 25 | — | 85.4% | ||
| Q2 25 | — | 86.1% | ||
| Q1 25 | — | 85.6% | ||
| Q4 24 | — | 87.1% | ||
| Q3 24 | — | 85.5% | ||
| Q2 24 | — | 84.4% |
营业利润率TZD
| Q1 26 | 21.1% | — | ||
| Q4 25 | 17.3% | 21.2% | ||
| Q3 25 | 19.9% | 7.8% | ||
| Q2 25 | 21.1% | 9.5% | ||
| Q1 25 | 18.8% | 10.7% | ||
| Q4 24 | 16.5% | 19.0% | ||
| Q3 24 | 7.0% | -8.3% | ||
| Q2 24 | 19.3% | 8.9% |
净利率TZD
| Q1 26 | 13.3% | — | ||
| Q4 25 | 11.3% | 0.1% | ||
| Q3 25 | 30.3% | -1.0% | ||
| Q2 25 | 14.6% | 7.5% | ||
| Q1 25 | 14.2% | 7.4% | ||
| Q4 24 | 12.6% | 15.5% | ||
| Q3 24 | -0.6% | -13.7% | ||
| Q2 24 | 12.1% | 11.5% |
每股收益（稀释后）TZD
| Q1 26 | $0.54 | — | ||
| Q4 25 | $0.52 | $0.06 | ||
| Q3 25 | $1.29 | $-0.09 | ||
| Q2 25 | $0.62 | $0.62 | ||
| Q1 25 | $0.61 | $0.56 | ||
| Q4 24 | $0.56 | $1.53 | ||
| Q3 24 | $-0.03 | $-1.11 | ||
| Q2 24 | $0.49 | $0.77 |
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 | $12.0B | $607.0M |
| 总债务越低越好 | $131.6B | $866.5M |
| 股东权益账面价值 | $125.6B | $1.8B |
| 总资产 | $421.2B | $3.7B |
| 负债/权益比越低杠杆越低 | 1.05× | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资TZD
| Q1 26 | $12.0B | — | ||
| Q4 25 | $18.2B | $607.0M | ||
| Q3 25 | $20.3B | $503.4M | ||
| Q2 25 | $10.5B | $457.3M | ||
| Q1 25 | $6.9B | $431.0M | ||
| Q4 24 | $3.3B | $505.9M | ||
| Q3 24 | $2.6B | $386.1M | ||
| Q2 24 | $3.1B | $687.2M |
总债务TZD
| Q1 26 | $131.6B | — | ||
| Q4 25 | $127.1B | $866.5M | ||
| Q3 25 | $128.1B | — | ||
| Q2 25 | $123.1B | — | ||
| Q1 25 | $117.3B | — | ||
| Q4 24 | $118.4B | $864.3M | ||
| Q3 24 | $126.4B | — | ||
| Q2 24 | $125.4B | — |
股东权益TZD
| Q1 26 | $125.6B | — | ||
| Q4 25 | $126.5B | $1.8B | ||
| Q3 25 | $126.8B | $1.8B | ||
| Q2 25 | $121.4B | $1.8B | ||
| Q1 25 | $119.9B | $1.8B | ||
| Q4 24 | $118.2B | $1.8B | ||
| Q3 24 | $116.3B | $1.8B | ||
| Q2 24 | $119.3B | $1.9B |
总资产TZD
| Q1 26 | $421.2B | — | ||
| Q4 25 | $420.2B | $3.7B | ||
| Q3 25 | $423.2B | $3.5B | ||
| Q2 25 | $405.5B | $3.5B | ||
| Q1 25 | $397.5B | $3.5B | ||
| Q4 24 | $394.8B | $3.7B | ||
| Q3 24 | $393.7B | $3.4B | ||
| Q2 24 | $398.0B | $3.7B |
负债/权益比TZD
| Q1 26 | 1.05× | — | ||
| Q4 25 | 1.00× | 0.49× | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 1.01× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 1.00× | 0.48× | ||
| Q3 24 | 1.09× | — | ||
| Q2 24 | 1.05× | — |
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 | $7.6B | $191.1M |
| 自由现金流经营现金流 - 资本支出 | $2.5B | $157.8M |
| 自由现金流率自由现金流/营收 | 8.0% | 38.8% |
| 资本支出强度资本支出/营收 | 15.5% | 8.2% |
| 现金转化率经营现金流/净利润 | 1.82× | 516.44× |
| 过去12个月自由现金流最近4个季度 | $17.2B | $287.9M |
8季度趋势，按日历期对齐
经营现金流TZD
| Q1 26 | $7.6B | — | ||
| Q4 25 | $11.3B | $191.1M | ||
| Q3 25 | $10.2B | $138.3M | ||
| Q2 25 | $9.8B | $57.1M | ||
| Q1 25 | $9.0B | $20.6M | ||
| Q4 24 | $11.9B | $158.2M | ||
| Q3 24 | $10.2B | $106.0M | ||
| Q2 24 | $9.1B | $50.6M |
自由现金流TZD
| Q1 26 | $2.5B | — | ||
| Q4 25 | $4.5B | $157.8M | ||
| Q3 25 | $5.3B | $108.2M | ||
| Q2 25 | $4.9B | $26.9M | ||
| Q1 25 | $4.8B | $-5.0M | ||
| Q4 24 | $5.1B | $131.1M | ||
| Q3 24 | $4.9B | $80.1M | ||
| Q2 24 | $4.7B | $25.1M |
自由现金流率TZD
| Q1 26 | 8.0% | — | ||
| Q4 25 | 13.6% | 38.8% | ||
| Q3 25 | 17.1% | 29.7% | ||
| Q2 25 | 15.8% | 7.6% | ||
| Q1 25 | 15.6% | -1.5% | ||
| Q4 24 | 15.6% | 31.8% | ||
| Q3 24 | 16.3% | 22.7% | ||
| Q2 24 | 15.9% | 7.8% |
资本支出强度TZD
| Q1 26 | 15.5% | — | ||
| Q4 25 | 20.3% | 8.2% | ||
| Q3 25 | 15.9% | 8.3% | ||
| Q2 25 | 15.9% | 8.6% | ||
| Q1 25 | 14.0% | 7.8% | ||
| Q4 24 | 21.2% | 6.6% | ||
| Q3 24 | 17.5% | 7.3% | ||
| Q2 24 | 14.6% | 8.0% |
现金转化率TZD
| Q1 26 | 1.82× | — | ||
| Q4 25 | 2.99× | 516.44× | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 2.17× | 2.17× | ||
| Q1 25 | 2.08× | 0.85× | ||
| Q4 24 | 2.92× | 2.47× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.53× | 1.37× |
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
T
| Service | $25.5B | 81% |
| Equipment | $6.0B | 19% |
ZD
| Health And Wellness | $114.8M | 28% |
| Technology And Shopping | $108.9M | 27% |
| Cybersecurity And Martech Segment | $70.9M | 17% |
| Connectivity | $60.3M | 15% |
| Gaming And Entertainment | $51.7M | 13% |
| Subscription And Licensing | $2.9M | 1% |
