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泰瑞达（TER）与沃特世（WAT）财务数据对比。点击上方公司名可切换其他公司
泰瑞达的季度营收约是沃特世的1.2倍（$1.1B vs $932.4M），沃特世净利率更高（24.2% vs 23.7%，领先0.4%），泰瑞达同比增速更快（43.9% vs 6.8%），过去两年泰瑞达的营收复合增速更高（34.4% vs 21.0%）
泰瑞达是总部位于美国马萨诸塞州北雷丁的自动测试设备（ATE）设计及制造企业，在全球半导体测试领域拥有深厚技术积累，服务的知名客户涵盖三星、高通、英特尔、亚德诺、德州仪器、IBM等行业头部企业。
沃特世是总部位于美国马萨诸塞州米尔福德的企业，面向生命科学、材料、食品等行业，提供色谱、质谱、实验室信息学、流变测量领域所用的分析仪器及配套软件，为各领域的检测、研发等工作提供可靠技术支持。
TER vs WAT — 直观对比
营收规模更大
TER
是对方的1.2倍
$932.4M
营收增速更快
TER
高出37.1%
6.8%
净利率更高
WAT
高出0.4%
23.7%
两年增速更快
TER
近两年复合增速
21.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $932.4M |
| 净利润 | $257.2M | $225.2M |
| 毛利率 | 57.2% | 61.1% |
| 营业利润率 | 27.1% | 29.0% |
| 净利率 | 23.7% | 24.2% |
| 营收同比 | 43.9% | 6.8% |
| 净利润同比 | 75.9% | -2.7% |
| 每股收益（稀释后） | $1.62 | $3.76 |
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TERWAT
| Q4 25 | $1.1B | $932.4M | ||
| Q3 25 | $769.2M | $799.9M | ||
| Q2 25 | $651.8M | $771.3M | ||
| Q1 25 | $685.7M | $661.7M | ||
| Q4 24 | $752.9M | $872.7M | ||
| Q3 24 | $737.3M | $740.3M | ||
| Q2 24 | $729.9M | $708.5M | ||
| Q1 24 | $599.8M | $636.8M |
净利润TERWAT
| Q4 25 | $257.2M | $225.2M | ||
| Q3 25 | $119.6M | $148.9M | ||
| Q2 25 | $78.4M | $147.1M | ||
| Q1 25 | $98.9M | $121.4M | ||
| Q4 24 | $146.3M | $231.4M | ||
| Q3 24 | $145.6M | $161.5M | ||
| Q2 24 | $186.3M | $142.7M | ||
| Q1 24 | $64.2M | $102.2M |
毛利率TERWAT
| Q4 25 | 57.2% | 61.1% | ||
| Q3 25 | 58.4% | 59.0% | ||
| Q2 25 | 57.2% | 58.3% | ||
| Q1 25 | 60.6% | 58.2% | ||
| Q4 24 | 59.4% | 60.1% | ||
| Q3 24 | 59.2% | 59.3% | ||
| Q2 24 | 58.3% | 59.3% | ||
| Q1 24 | 56.6% | 58.9% |
营业利润率TERWAT
| Q4 25 | 27.1% | 29.0% | ||
| Q3 25 | 18.9% | 24.0% | ||
| Q2 25 | 13.9% | 24.4% | ||
| Q1 25 | 17.6% | 22.9% | ||
| Q4 24 | 20.4% | 33.5% | ||
| Q3 24 | 20.6% | 28.5% | ||
| Q2 24 | 28.8% | 26.7% | ||
| Q1 24 | 13.0% | 21.0% |
净利率TERWAT
| Q4 25 | 23.7% | 24.2% | ||
| Q3 25 | 15.5% | 18.6% | ||
| Q2 25 | 12.0% | 19.1% | ||
| Q1 25 | 14.4% | 18.3% | ||
| Q4 24 | 19.4% | 26.5% | ||
| Q3 24 | 19.8% | 21.8% | ||
| Q2 24 | 25.5% | 20.1% | ||
| Q1 24 | 10.7% | 16.0% |
每股收益（稀释后）TERWAT
| Q4 25 | $1.62 | $3.76 | ||
| Q3 25 | $0.75 | $2.50 | ||
| Q2 25 | $0.49 | $2.47 | ||
| Q1 25 | $0.61 | $2.03 | ||
| Q4 24 | $0.89 | $3.88 | ||
| Q3 24 | $0.89 | $2.71 | ||
| Q2 24 | $1.14 | $2.40 | ||
| Q1 24 | $0.40 | $1.72 |
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 | $293.8M | $587.8M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $2.8B | $2.6B |
| 总资产 | $4.2B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资TERWAT
| Q4 25 | $293.8M | $587.8M | ||
| Q3 25 | $272.7M | $459.1M | ||
| Q2 25 | $339.3M | $367.2M | ||
| Q1 25 | $475.6M | $382.9M | ||
| Q4 24 | $553.4M | $325.4M | ||
| Q3 24 | $510.0M | $331.5M | ||
| Q2 24 | $421.9M | $327.4M | ||
| Q1 24 | $707.4M | $338.2M |
总债务TERWAT
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益TERWAT
| Q4 25 | $2.8B | $2.6B | ||
| Q3 25 | $2.7B | $2.3B | ||
| Q2 25 | $2.8B | $2.2B | ||
| Q1 25 | $2.8B | $2.0B | ||
| Q4 24 | $2.8B | $1.8B | ||
| Q3 24 | $2.9B | $1.6B | ||
| Q2 24 | $2.7B | $1.4B | ||
| Q1 24 | $2.6B | $1.3B |
总资产TERWAT
| Q4 25 | $4.2B | $5.1B | ||
| Q3 25 | $4.0B | $4.9B | ||
| Q2 25 | $3.8B | $4.7B | ||
| Q1 25 | $3.7B | $4.6B | ||
| Q4 24 | $3.7B | $4.6B | ||
| Q3 24 | $3.8B | $4.5B | ||
| Q2 24 | $3.6B | $4.4B | ||
| Q1 24 | $3.4B | $4.5B |
负债/权益比TERWAT
| Q4 25 | — | 0.55× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $281.6M | $164.6M |
| 自由现金流经营现金流 - 资本支出 | $218.8M | — |
| 自由现金流率自由现金流/营收 | 20.2% | — |
| 资本支出强度资本支出/营收 | 5.8% | — |
| 现金转化率经营现金流/净利润 | 1.09× | 0.73× |
| 过去12个月自由现金流最近4个季度 | $450.4M | — |
8季度趋势，按日历期对齐
经营现金流TERWAT
| Q4 25 | $281.6M | $164.6M | ||
| Q3 25 | $49.0M | $187.3M | ||
| Q2 25 | $182.1M | $41.1M | ||
| Q1 25 | $161.6M | $259.6M | ||
| Q4 24 | $282.6M | $240.1M | ||
| Q3 24 | $166.3M | $204.6M | ||
| Q2 24 | $216.1M | $54.5M | ||
| Q1 24 | $7.3M | $262.9M |
自由现金流TERWAT
| Q4 25 | $218.8M | — | ||
| Q3 25 | $2.4M | — | ||
| Q2 25 | $131.7M | — | ||
| Q1 25 | $97.6M | — | ||
| Q4 24 | $225.2M | — | ||
| Q3 24 | $114.4M | — | ||
| Q2 24 | $171.2M | — | ||
| Q1 24 | $-36.7M | — |
自由现金流率TERWAT
| Q4 25 | 20.2% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 20.2% | — | ||
| Q1 25 | 14.2% | — | ||
| Q4 24 | 29.9% | — | ||
| Q3 24 | 15.5% | — | ||
| Q2 24 | 23.5% | — | ||
| Q1 24 | -6.1% | — |
资本支出强度TERWAT
| Q4 25 | 5.8% | — | ||
| Q3 25 | 6.1% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | 7.6% | — | ||
| Q3 24 | 7.0% | — | ||
| Q2 24 | 6.1% | — | ||
| Q1 24 | 7.3% | — |
现金转化率TERWAT
| Q4 25 | 1.09× | 0.73× | ||
| Q3 25 | 0.41× | 1.26× | ||
| Q2 25 | 2.32× | 0.28× | ||
| Q1 25 | 1.63× | 2.14× | ||
| Q4 24 | 1.93× | 1.04× | ||
| Q3 24 | 1.14× | 1.27× | ||
| Q2 24 | 1.16× | 0.38× | ||
| Q1 24 | 0.11× | 2.57× |
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
TER
| Soc | $646.5M | 60% |
| Memory | $206.5M | 19% |
| Transferred At Point In Time | $90.0M | 8% |
| Universal Robots | $89.4M | 8% |
| IST | $30.5M | 3% |
| Transferred Over Time | $20.5M | 2% |
WAT
暂无分部数据
