vs
Trade Desk (The)（TTD）与WINNEBAGO INDUSTRIES INC（WGO）财务数据对比。点击上方公司名可切换其他公司
Trade Desk (The)的季度营收约是WINNEBAGO INDUSTRIES INC的1.2倍（$846.8M vs $702.7M），Trade Desk (The)净利率更高（22.1% vs 0.8%，领先21.3%），Trade Desk (The)同比增速更快（14.3% vs 12.3%），Trade Desk (The)自由现金流更多（$285.3M vs $19.8M），过去两年Trade Desk (The)的营收复合增速更高（31.3% vs -4.5%）
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
温尼贝戈工业是美国知名的房车制造商，主营 recreational vehicle（ recreational vehicle 即休闲旅居车）生产制造，2018年收购克里斯-克拉夫特公司后进军摩托艇制造领域，企业也曾产出中轻型多用途车等相关产品，公司名称源自其原总部所在地爱荷华州的温纳贝戈县。
TTD vs WGO — 直观对比
营收规模更大
TTD
是对方的1.2倍
$702.7M
营收增速更快
TTD
高出2.0%
12.3%
净利率更高
TTD
高出21.3%
0.8%
自由现金流更多
TTD
多$265.5M
$19.8M
两年增速更快
TTD
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $846.8M | $702.7M |
| 净利润 | $186.9M | $5.5M |
| 毛利率 | 80.7% | 12.7% |
| 营业利润率 | 30.3% | 2.0% |
| 净利率 | 22.1% | 0.8% |
| 营收同比 | 14.3% | 12.3% |
| 净利润同比 | 2.6% | 205.8% |
| 每股收益（稀释后） | $0.39 | $0.19 |
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TTDWGO
| Q4 25 | $846.8M | $702.7M | ||
| Q3 25 | $739.4M | — | ||
| Q2 25 | $694.0M | $775.1M | ||
| Q1 25 | $616.0M | — | ||
| Q4 24 | $741.0M | $625.6M | ||
| Q3 24 | $628.0M | $720.9M | ||
| Q2 24 | $584.5M | $786.0M | ||
| Q1 24 | $491.3M | $703.6M |
净利润TTDWGO
| Q4 25 | $186.9M | $5.5M | ||
| Q3 25 | $115.5M | — | ||
| Q2 25 | $90.1M | $17.6M | ||
| Q1 25 | $50.7M | — | ||
| Q4 24 | $182.2M | $-5.2M | ||
| Q3 24 | $94.2M | $-29.1M | ||
| Q2 24 | $85.0M | $29.0M | ||
| Q1 24 | $31.7M | $-12.7M |
毛利率TTDWGO
| Q4 25 | 80.7% | 12.7% | ||
| Q3 25 | 78.1% | — | ||
| Q2 25 | 78.2% | 13.7% | ||
| Q1 25 | 76.8% | — | ||
| Q4 24 | 81.7% | 12.3% | ||
| Q3 24 | 80.5% | 13.1% | ||
| Q2 24 | 81.1% | 15.0% | ||
| Q1 24 | 78.9% | 15.0% |
营业利润率TTDWGO
| Q4 25 | 30.3% | 2.0% | ||
| Q3 25 | 21.8% | — | ||
| Q2 25 | 16.8% | 3.9% | ||
| Q1 25 | 8.8% | — | ||
| Q4 24 | 26.4% | -0.1% | ||
| Q3 24 | 17.3% | -2.5% | ||
| Q2 24 | 16.2% | 5.5% | ||
| Q1 24 | 5.8% | 5.0% |
净利率TTDWGO
| Q4 25 | 22.1% | 0.8% | ||
| Q3 25 | 15.6% | — | ||
| Q2 25 | 13.0% | 2.3% | ||
| Q1 25 | 8.2% | — | ||
| Q4 24 | 24.6% | -0.8% | ||
| Q3 24 | 15.0% | -4.0% | ||
| Q2 24 | 14.5% | 3.7% | ||
| Q1 24 | 6.4% | -1.8% |
每股收益（稀释后）TTDWGO
| Q4 25 | $0.39 | $0.19 | ||
| Q3 25 | $0.23 | — | ||
| Q2 25 | $0.18 | $0.62 | ||
| Q1 25 | $0.10 | — | ||
| Q4 24 | $0.36 | $-0.18 | ||
| Q3 24 | $0.19 | $-0.87 | ||
| Q2 24 | $0.17 | $0.96 | ||
| Q1 24 | $0.06 | $-0.43 |
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 | $1.3B | $181.7M |
| 总债务越低越好 | — | $541.0M |
| 股东权益账面价值 | $2.5B | $1.2B |
| 总资产 | $6.2B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资TTDWGO
| Q4 25 | $1.3B | $181.7M | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.7B | $10.5M | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.9B | $262.5M | ||
| Q3 24 | $1.7B | $330.9M | ||
| Q2 24 | $1.5B | $318.1M | ||
| Q1 24 | $1.4B | $265.7M |
总债务TTDWGO
| Q4 25 | — | $541.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $539.9M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $637.7M | ||
| Q3 24 | — | $637.1M | ||
| Q2 24 | — | $636.4M | ||
| Q1 24 | — | $694.8M |
股东权益TTDWGO
| Q4 25 | $2.5B | $1.2B | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.7B | $1.2B | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.9B | $1.2B | ||
| Q3 24 | $2.6B | $1.3B | ||
| Q2 24 | $2.4B | $1.3B | ||
| Q1 24 | $2.2B | $1.3B |
总资产TTDWGO
| Q4 25 | $6.2B | $2.1B | ||
| Q3 25 | $5.9B | — | ||
| Q2 25 | $6.0B | $2.1B | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $6.1B | $2.3B | ||
| Q3 24 | $5.5B | $2.4B | ||
| Q2 24 | $5.2B | $2.4B | ||
| Q1 24 | $4.7B | $2.4B |
负债/权益比TTDWGO
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.50× | ||
| Q2 24 | — | 0.48× | ||
| Q1 24 | — | 0.52× |
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 | $311.6M | $25.4M |
| 自由现金流经营现金流 - 资本支出 | $285.3M | $19.8M |
| 自由现金流率自由现金流/营收 | 33.7% | 2.8% |
| 资本支出强度资本支出/营收 | 3.1% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.67× | 4.62× |
| 过去12个月自由现金流最近4个季度 | $795.7M | $-32.4M |
8季度趋势，按日历期对齐
经营现金流TTDWGO
| Q4 25 | $311.6M | $25.4M | ||
| Q3 25 | $224.7M | — | ||
| Q2 25 | $165.0M | $-35.8M | ||
| Q1 25 | $291.4M | — | ||
| Q4 24 | $199.4M | $-16.7M | ||
| Q3 24 | $273.3M | $40.7M | ||
| Q2 24 | $81.3M | $99.4M | ||
| Q1 24 | $185.5M | $25.2M |
自由现金流TTDWGO
| Q4 25 | $285.3M | $19.8M | ||
| Q3 25 | $158.3M | — | ||
| Q2 25 | $119.8M | $-55.0M | ||
| Q1 25 | $232.3M | — | ||
| Q4 24 | $179.2M | $-26.7M | ||
| Q3 24 | $224.6M | $29.5M | ||
| Q2 24 | $59.1M | $88.4M | ||
| Q1 24 | $178.2M | $14.2M |
自由现金流率TTDWGO
| Q4 25 | 33.7% | 2.8% | ||
| Q3 25 | 21.4% | — | ||
| Q2 25 | 17.3% | -7.1% | ||
| Q1 25 | 37.7% | — | ||
| Q4 24 | 24.2% | -4.3% | ||
| Q3 24 | 35.8% | 4.1% | ||
| Q2 24 | 10.1% | 11.2% | ||
| Q1 24 | 36.3% | 2.0% |
资本支出强度TTDWGO
| Q4 25 | 3.1% | 0.8% | ||
| Q3 25 | 9.0% | — | ||
| Q2 25 | 6.5% | 2.5% | ||
| Q1 25 | 9.6% | — | ||
| Q4 24 | 2.7% | 1.6% | ||
| Q3 24 | 7.8% | 1.6% | ||
| Q2 24 | 3.8% | 1.4% | ||
| Q1 24 | 1.5% | 1.6% |
现金转化率TTDWGO
| Q4 25 | 1.67× | 4.62× | ||
| Q3 25 | 1.94× | — | ||
| Q2 25 | 1.83× | -2.03× | ||
| Q1 25 | 5.75× | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 2.90× | — | ||
| Q2 24 | 0.96× | 3.43× | ||
| Q1 24 | 5.86× | — |
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
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
WGO
| Travel Trailer | $139.2M | 20% |
| Class C And Other | $131.0M | 19% |
| Fifth Wheel | $116.0M | 17% |
| Class A | $97.4M | 14% |
| Marine Segment | $79.2M | 11% |
| Class B | $76.3M | 11% |
| Other | $56.4M | 8% |
