财务数据
金额单位：亿美元；每股数据：美元；股数：亿股。* 为推导值（如第四季度 = 全年 − 前三季度；半年报公司的下半年 = 全年 − 上半年），悬停任一数字可查看来源（XBRL 标签 / PDF 页码 / 计算公式）。
年度营收（亿美元）
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 营业收入 | 88.3 | 116.9 | 157.9 | 201.6 | 250.0 | 297.0 | 316.2 | 337.2 | 390.0 | 451.8 |
年度利润（亿美元）
营业利润净利润
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 营业利润 | 3.8 | 8.4 | 16.1 | 26.0 | 45.9 | 61.9 | 56.3 | 69.5 | 104.2 | 133.3 |
| 净利润 | 1.9 | 5.6 | 12.1 | 18.7 | 27.6 | 51.2 | 44.9 | 54.1 | 87.1 | 109.8 |
市盈率对比：表观 vs 实际（倍，按当前市值折算）
表观市盈率（账面口径）实际市盈率（主业口径）
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| FY22 | FY23 | FY24 | FY25 | TTM | |
|---|---|---|---|---|---|
| 表观市盈率（账面口径） | 56.8x | 47.2x | 29.3x | 23.2x | 17.3x |
| 实际市盈率（主业口径） | 53.1x | 42.1x | 28.0x | 22.2x | 19.7x |
最新滚动 12 个月（FY2025Q4–FY2026Q3）：总市值 2,551.7 亿美元；账面净利润 147.7 亿美元 → 表观市盈率 17.3x；剔除税后非主业净收益 17.8 亿美元（投资/股权及利息等营业外收支税前 21.4 亿，有效税率 16.6%）后，实际主业盈利 129.8 亿美元 → 实际市盈率 19.7x（表观市盈率被非主业收益拉低 2.4x）。
年度账面盈利 vs 实际主业盈利（亿美元，含 TTM）
账面净利润实际主业盈利
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 账面净利润 | 1.9 | 5.6 | 12.1 | 18.7 | 27.6 | 51.2 | 44.9 | 54.1 | 87.1 | 109.8 | 147.7 |
| 实际主业盈利 | 2.7 | 8.4 | 15.9 | 23.6 | 39.6 | 54.3 | 48.1 | 60.6 | 91.1 | 115.0 | 129.8 |
年度利润率
毛利率营业利润率税后营业利润率净利率
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 毛利率 | 29.1% | 31.3% | 36.9% | 38.3% | 38.9% | 41.6% | 39.4% | 41.5% | 46.1% | 48.5% |
| 营业利润率 | 4.3% | 7.2% | 10.2% | 12.9% | 18.3% | 20.9% | 17.8% | 20.6% | 26.7% | 29.5% |
| 税后营业利润率 | 3.1% | 10.0% | 11.7% | 15.8% | 18.3% | 15.2% | 18.0% | 23.4% | 25.5% | |
| 净利率 | 2.1% | 4.8% | 7.7% | 9.3% | 11.0% | 17.2% | 14.2% | 16.0% | 22.3% | 24.3% |
净利率受营业外收支影响大（营业外收支占税前利润：FY16 -45.8%、FY17 -72.8%、FY18 -30.9%、FY19 -26.3%、FY20 -43.3%），这部分（投资收益、公允价值变动、利息等）不反映主业；看经营盈利用税后营业利润率（营业利润按当期有效税率扣税后 ÷ 营收）。
资本开支与自由现金流（亿美元）
资本开支自由现金流
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 资本开支 | 1.1 | 1.7 | 1.7 | 2.5 | 5.0 | 5.2 | 4.1 | 3.5 | 4.4 | 6.9 |
| 自由现金流 | -15.8 | -19.6 | -28.5 | -31.4 | 19.3 | -1.3 | 16.2 | 69.3 | 69.2 | 94.6 |
年度ROE 与 ROIC
ROEROIC三年增量 ROIC
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.6% | 17.9% | 27.5% | 29.1% | 29.6% | 38.0% | 24.5% | 26.1% | 38.4% | 42.8% |
| ROIC | 5.9% | 13.3% | 13.4% | 13.6% | 21.2% | 22.1% | 16.0% | 21.9% | 29.6% | 37.1% |
| 三年增量 ROIC | 3.6% | 11.7% | 14.6% | 16.4% | 26.2% | 30.2% | 19.3% | 23.5% | 59.1% |
FY2025 ROIC 37.1% = 税后营业利润（NOPAT）115.0 亿美元 ÷ 投入资本 310.5 亿美元（杜邦拆解：税后营业利润率 25.5% × 投入资本周转率 1.46x）。
年度税后营业利润（NOPAT）与投入资本（亿美元）
税后营业利润（NOPAT）投入资本
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 税后营业利润（NOPAT） | 2.7 | 9.7 | 15.9 | 23.6 | 39.6 | 54.3 | 48.1 | 60.6 | 91.1 | 115.0 |
| 投入资本 | 45.8 | 72.6 | 118.0 | 173.2 | 186.7 | 245.1 | 299.8 | 276.1 | 307.4 | 310.5 |
| 科目 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 利润表 | ||||||||||
| 营业收入IS_REVENUE | 88.3 | 116.9 | 157.9 | 201.6 | 250.0 | 297.0 | 316.2 | 337.2 | 390.0 | 451.8 |
| 营业成本IS_COGS | 62.6 | 80.3 | 99.7 | 124.4 | 152.8 | 173.3 | 191.7 | 197.2 | 210.4 | 232.8 |
| 毛利IS_GROSS_PROFIT | 25.7 | 36.6 | 58.3 | 77.2 | 97.2 | 123.7 | 124.5 | 140.1 | 179.6 | 219.1 |
| 研发费用IS_RND | 7.7 | 9.8 | 12.2 | 16.7 | 18.3 | 22.7 | 27.1 | 26.8 | 29.3 | 33.9 |
| 营业利润IS_OPERATING_PROFIT | 3.8 | 8.4 | 16.1 | 26.0 | 45.9 | 61.9 | 56.3 | 69.5 | 104.2 | 133.3 |
| 营业外收支净额IS_NONOPERATING | 0.3 | -1.2 | 0.4 | 0.8 | -6.2 | 4.1 | 3.4 | -0.5 | 2.7 | 1.7 |
| 税前利润IS_PRETAX_PROFIT | 2.6 | 4.9 | 12.3 | 20.6 | 32.0 | 58.4 | 52.6 | 62.1 | 99.7 | 127.2 |
| 所得税IS_TAX | 0.7 | -0.7 | 0.2 | 2.0 | 4.4 | 7.2 | 7.7 | 8.0 | 12.5 | 17.4 |
| 净利润IS_NET_PROFIT | 1.9 | 5.6 | 12.1 | 18.7 | 27.6 | 51.2 | 44.9 | 54.1 | 87.1 | 109.8 |
| 基本每股收益IS_EPS_BASIC | 0.44 | 1.29 | 2.78 | 4.26 | 6.26 | 11.55 | 10.10 | 1.22 | 2.03 | 2.58 |
| 摊薄每股收益IS_EPS_DILUTED | 0.43 | 1.25 | 2.68 | 4.13 | 6.08 | 11.24 | 9.95 | 1.20 | 1.98 | 2.53 |
| 基本加权股数IS_SHARES_BASIC | 4.29 | 4.32 | 4.35 | 4.38 | 4.41 | 4.43 | 4.45 | 44.16 | 42.95 | 42.50 |
| 摊薄加权股数IS_SHARES_DILUTED | 4.39 | 4.47 | 4.51 | 4.52 | 4.54 | 4.55 | 4.51 | 44.95 | 43.93 | 43.44 |
| 资产负债表 | ||||||||||
| 总资产BS_TOTAL_ASSETS | 135.9 | 190.1 | 259.7 | 339.8 | 392.8 | 445.8 | 485.9 | 487.3 | 536.3 | 556.0 |
| 流动资产BS_CURRENT_ASSETS | 57.2 | 76.7 | 96.9 | 61.8 | 97.6 | 80.7 | 92.7 | 99.2 | 131.0 | 130.2 |
| 现金及等价物BS_CASH | 14.7 | 28.2 | 37.9 | 50.2 | 82.1 | 60.3 | 51.5 | 71.2 | 78.0 | 90.3 |
| 短期投资（有价证券/定期存款）BS_ST_INVESTMENTS | 2.7 | 0.0 | 0.0 | 9.1 | 0.2 | 17.8 | 0.3 | |||
| 固定资产净值BS_PPE_NET | 2.5 | 3.2 | 4.2 | 5.7 | 9.6 | 13.2 | 14.0 | 14.9 | 15.9 | 20.0 |
| 总负债BS_TOTAL_LIABILITIES | 109.1 | 154.3 | 207.4 | 263.9 | 282.2 | 287.4 | 278.2 | 281.4 | 288.9 | 289.8 |
| 流动负债BS_CURRENT_LIABILITIES | 45.9 | 54.7 | 64.9 | 68.6 | 78.1 | 84.9 | 79.3 | 88.6 | 107.6 | 109.8 |
| 一年内到期借款BS_ST_DEBT | 0.0 | 5.0 | 7.0 | 0.0 | 4.0 | 17.8 | 10.0 | |||
| 应付账款BS_AP | 3.1 | 3.6 | 5.6 | 6.7 | 6.6 | 8.4 | 6.7 | 7.5 | 9.0 | 9.0 |
| 合同负债BS_CONTRACT_LIAB | 4.4 | 6.2 | 7.6 | 9.2 | 11.2 | 12.1 | 12.6 | 14.4 | 15.2 | 17.8 |
| 长期借款BS_LT_DEBT | 33.6 | 65.0 | 103.6 | 147.6 | 158.1 | 146.9 | 143.5 | 141.4 | 138.0 | 134.6 |
| 股东权益BS_TOTAL_EQUITY | 26.8 | 35.8 | 52.4 | 75.8 | 110.7 | 158.5 | 207.8 | 205.9 | 247.4 | 266.2 |
| 现金流量表 | ||||||||||
| 经营活动现金流CF_OPERATING | -14.7 | -17.9 | -26.8 | -28.9 | 24.3 | 3.9 | 20.3 | 72.7 | 73.6 | 101.5 |
| 折旧摊销CF_DEPRECIATION | 0.6 | 0.7 | 0.8 | 1.0 | 1.2 | 2.1 | 3.4 | 3.6 | 3.3 | 3.3 |
| 股权激励费用CF_SBC | 1.7 | 1.8 | 3.2 | 4.1 | 4.2 | 4.0 | 5.8 | 3.4 | 2.7 | 3.7 |
| 投资活动现金流CF_INVESTING | 0.5 | 0.3 | -3.4 | -3.9 | -5.1 | -13.4 | -20.8 | 5.4 | -21.8 | 10.4 |
| 资本开支CF_CAPEX | 1.1 | 1.7 | 1.7 | 2.5 | 5.0 | 5.2 | 4.1 | 3.5 | 4.4 | 6.9 |
| 经营租赁新增使用权资产（非现金）CF_OPLEASE_ADDITIONS | 16.7 | 7.3 | 7.6 | 2.5 | 2.0 | 4.4 | 4.7 | |||
| 筹资活动现金流CF_FINANCING | 10.9 | 30.8 | 40.5 | 45.1 | 12.4 | -11.5 | -6.6 | -59.5 | -40.7 | -103.5 |
| 回购CF_BUYBACK | 0.0 | 0.0 | 6.0 | 0.0 | 60.5 | 62.6 | 91.3 | |||
| 财务指标 | ||||||||||
| 毛利率GROSS_MARGIN | 29.1% | 31.3% | 36.9% | 38.3% | 38.9% | 41.6% | 39.4% | 41.5% | 46.1% | 48.5% |
| 营业利润率OPERATING_MARGIN | 4.3% | 7.2% | 10.2% | 12.9% | 18.3% | 20.9% | 17.8% | 20.6% | 26.7% | 29.5% |
| 净利率NET_MARGIN | 2.1% | 4.8% | 7.7% | 9.3% | 11.0% | 17.2% | 14.2% | 16.0% | 22.3% | 24.3% |
| 税后营业利润NOPAT | 2.7 | 9.7 | 15.9 | 23.6 | 39.6 | 54.3 | 48.1 | 60.6 | 91.1 | 115.0 |
| 税后营业利润率NOPAT_MARGIN | 3.1% | 10.0% | 11.7% | 15.8% | 18.3% | 15.2% | 18.0% | 23.4% | 25.5% | |
| 投入资本INVESTED_CAPITAL | 45.8 | 72.6 | 118.0 | 173.2 | 186.7 | 245.1 | 299.8 | 276.1 | 307.4 | 310.5 |
| 投入资本周转率CAPITAL_TURNOVER | 1.93 | 1.61 | 1.34 | 1.16 | 1.34 | 1.21 | 1.05 | 1.22 | 1.27 | 1.46 |
| ROEROE | 7.6% | 17.9% | 27.5% | 29.1% | 29.6% | 38.0% | 24.5% | 26.1% | 38.4% | 42.8% |
| ROICROIC | 5.9% | 13.3% | 13.4% | 13.6% | 21.2% | 22.1% | 16.0% | 21.9% | 29.6% | 37.1% |
| 三年增量 ROICINCREMENTAL_ROIC_3Y | 3.6% | 11.7% | 14.6% | 16.4% | 26.2% | 30.2% | 19.3% | 23.5% | 59.1% | |
| 资产负债率DEBT_RATIO | 80.3% | 81.2% | 79.8% | 77.7% | 71.8% | 64.5% | 57.2% | 57.8% | 53.9% | 52.1% |
| 经营现金流/净利润OCF_TO_PROFIT | -789.6% | -319.5% | -221.3% | -154.7% | 87.9% | 7.7% | 45.1% | 134.5% | 84.5% | 92.4% |
| 应计比率ACCRUAL_RATIO | 12.2% | 12.3% | 15.0% | 14.0% | 0.9% | 10.6% | 5.1% | -3.8% | 2.5% | 1.5% |
| 营业外收支/税前利润NONOP_TO_PRETAX | -45.8% | -72.8% | -30.9% | -26.3% | -43.3% | -6.1% | -7.0% | -12.1% | -4.5% | -4.7% |
| 自由现金流FCF | -15.8 | -19.6 | -28.5 | -31.4 | 19.3 | -1.3 | 16.2 | 69.3 | 69.2 | 94.6 |
| 自由现金流利润率FCF_MARGIN | -17.9% | -16.8% | -18.1% | -15.6% | 7.7% | -0.4% | 5.1% | 20.5% | 17.7% | 20.9% |
| 股权激励/营收SBC_TO_REVENUE | 2.0% | 1.6% | 2.0% | 2.0% | 1.7% | 1.4% | 1.8% | 1.0% | 0.7% | 0.8% |
| 扣股权激励自由现金流FCF_AFTER_SBC | -17.6 | -21.4 | -31.8 | -35.5 | 15.1 | -5.4 | 10.4 | 65.9 | 66.5 | 90.9 |
| 资本开支/折旧摊销CAPEX_TO_DA | 1.87 | 2.41 | 2.09 | 2.44 | 4.30 | 2.52 | 1.21 | 0.98 | 1.34 | 2.06 |
| 固定资产周转率PPE_TURNOVER | 35.27 | 36.61 | 37.76 | 35.66 | 26.03 | 22.44 | 22.61 | 22.61 | 24.47 | 22.54 |
| 总资产周转率ASSET_TURNOVER | 0.74 | 0.72 | 0.70 | 0.67 | 0.68 | 0.71 | 0.68 | 0.69 | 0.76 | 0.83 |
| 权益乘数EQUITY_MULTIPLIER | 4.85 | 5.21 | 5.10 | 4.68 | 3.93 | 3.12 | 2.54 | 2.35 | 2.26 | 2.13 |
| 应付周转天数DPO | 18.2 | 16.3 | 20.6 | 19.8 | 15.7 | 17.6 | 12.8 | 13.8 | 15.6 | 14.1 |
| 合同负债同比CONTRACT_LIAB_YOY | 27.9% | 39.5% | 23.0% | 21.5% | 20.9% | 8.2% | 4.6% | 14.1% | 5.4% | 16.8% |
| 所有者盈余OWNER_EARNINGS | -15.3 | -18.6 | -27.6 | -29.9 | 23.1 | 1.8 | 16.9 | 69.2 | 70.3 | 98.2 |
| 股东回报（派息+回购）SHAREHOLDER_RETURN | 0.0 | 0.0 | 6.0 | 0.0 | 60.5 | 62.6 | 91.3 | |||
| 股东回报/自由现金流SHAREHOLDER_RETURN_TO_FCF | 0.0% | 0.0% | 87.3% | 90.5% | 96.5% | |||||
| 稀释率DILUTION_RATE | 2.3% | 3.5% | 3.6% | 3.2% | 3.0% | 2.8% | 1.5% | 1.8% | 2.3% | 2.2% |
| 摊薄股数同比SHARES_DILUTED_CHANGE | 0.5% | 1.9% | 1.0% | 0.1% | 0.5% | 0.3% | -0.9% | 896.0% | -2.3% | -1.1% |
| 摊薄 EPS 同比EPS_DILUTED_GROWTH | 53.6% | 190.7% | 114.4% | 54.1% | 47.2% | 84.9% | -11.5% | -87.9% | 65.0% | 27.8% |
勾稽校验（所示期间）：10 项， 全部通过
季度营收（亿美元）
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 营业收入 | 88.3 | 93.7 | 95.6 | 98.2 | 102.5 | 105.4 | 110.8 | 115.1 | 120.5 | 122.5 | 125.6 | 128.7 |
季度利润（亿美元）
营业利润净利润
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| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 营业利润 | 15.0 | 26.3 | 26.0 | 29.1 | 22.7 | 33.5 | 37.7 | 32.5 | 29.6 | 39.6 | 41.9 | 44.6 |
| 净利润 | 9.4 | 23.3 | 21.5 | 23.6 | 18.7 | 28.9 | 31.3 | 25.5 | 24.2 | 52.8 | 34.0 | 36.6 |
滚动 TTM 市盈率对比：表观 vs 实际（倍，按当前市值折算）
表观市盈率（TTM）实际市盈率（TTM）
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| 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|
| 表观市盈率（TTM） | 29.3x | 27.5x | 24.9x | 24.5x | 23.2x | 19.1x | 18.7x | 17.3x |
| 实际市盈率（TTM） | 28.0x | 26.1x | 23.6x | 23.4x | 22.2x | 22.0x | 21.5x | 19.7x |
季度账面盈利 vs 实际主业盈利（亿美元）
账面净利润实际主业盈利
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| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 账面净利润 | 9.4 | 23.3 | 21.5 | 23.6 | 18.7 | 28.9 | 31.3 | 25.5 | 24.2 | 52.8 | 34.0 | 36.6 |
| 实际主业盈利 | 12.2 | 23.5 | 22.2 | 25.4 | 19.9 | 30.1 | 32.5 | 26.6 | 25.8 | 31.9 | 35.1 | 37.8 |
季度利润率
毛利率营业利润率税后营业利润率净利率
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 毛利率 | 39.9% | 46.9% | 45.9% | 47.9% | 43.7% | 50.1% | 51.9% | 46.4% | 45.9% | 51.9% | 51.9% | 52.8% |
| 营业利润率 | 16.9% | 28.1% | 27.2% | 29.6% | 22.2% | 31.7% | 34.1% | 28.2% | 24.5% | 32.3% | 33.4% | 34.6% |
| 税后营业利润率 | 13.8% | 25.1% | 23.3% | 25.9% | 19.4% | 28.6% | 29.3% | 23.1% | 21.4% | 26.1% | 27.9% | 29.4% |
| 净利率 | 10.6% | 24.9% | 22.5% | 24.1% | 18.2% | 27.4% | 28.2% | 22.1% | 20.1% | 43.1% | 27.1% | 28.5% |
净利率受营业外收支影响大（营业外收支占税前利润：23Q4 -30.3%、26Q1 39.6%），这部分（投资收益、公允价值变动、利息等）不反映主业；看经营盈利用税后营业利润率（营业利润按当期有效税率扣税后 ÷ 营收）。
资本开支与自由现金流（亿美元）
资本开支自由现金流
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| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 资本开支 | 0.8 | 0.8 | 0.8 | 1.3 | 1.6 | 1.3 | 1.6 | 1.6 | 2.4 | 2.0 | 2.2 | 2.8 |
| 自由现金流 | 15.8 | 21.4 | 12.1 | 21.9 | 13.8 | 26.6 | 22.7 | 26.6 | 18.7 | 50.9 | 15.3 | 28.8 |
季度ROE 与 ROIC
ROEROIC
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| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.6% | 10.9% | 9.7% | 10.4% | 7.6% | 12.0% | 12.5% | 9.8% | 9.1% | 17.0% | 11.3% | 12.5% |
| ROIC | 4.4% | 8.5% | 8.0% | 8.6% | 6.5% | 9.8% | 10.4% | 8.5% | 8.3% | 9.9% | 10.7% | 11.2% |
FY2026Q3 ROIC 11.2% = 税后营业利润（NOPAT）37.8 亿美元 ÷ 投入资本 337.5 亿美元（杜邦拆解：税后营业利润率 29.4% × 投入资本周转率 1.53x）。
季度税后营业利润（NOPAT）与投入资本（亿美元）
税后营业利润（NOPAT）投入资本
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 税后营业利润（NOPAT） | 12.2 | 23.5 | 22.2 | 25.4 | 19.9 | 30.1 | 32.5 | 26.6 | 25.8 | 31.9 | 35.1 | 37.8 |
| 投入资本 | 276.1 | 275.6 | 276.7 | 294.2 | 307.4 | 308.4 | 312.3 | 311.3 | 310.5 | 322.3 | 328.8 | 337.5 |
| 科目 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 利润表 | ||||||||||||
| 营业收入IS_REVENUE | 88.3 | 93.7 | 95.6 | 98.2 | 102.5 | 105.4 | 110.8 | 115.1 | 120.5 | 122.5 | 125.6 | 128.7 |
| 营业成本IS_COGS | 53.1 | 49.8 | 51.7 | 51.2 | 57.7 | 52.6 | 53.3 | 61.6 | 65.2 | 58.9 | 60.4 | 60.8 |
| 毛利IS_GROSS_PROFIT | 35.3 | 43.9 | 43.9 | 47.0 | 44.8 | 52.8 | 57.5 | 53.5 | 55.3 | 63.6 | 65.2 | 68.0 |
| 研发费用IS_RND | 6.7 | 7.0 | 7.1 | 7.4 | 7.8 | 8.2 | 8.2 | 8.5 | 8.9 | 9.6 | 10.1 | 10.3 |
| 营业利润IS_OPERATING_PROFIT | 15.0 | 26.3 | 26.0 | 29.1 | 22.7 | 33.5 | 37.7 | 32.5 | 29.6 | 39.6 | 41.9 | 44.6 |
| 营业外收支净额IS_NONOPERATING | -1.7 | 1.6 | 0.8 | -0.2 | 0.5 | 0.5 | 0.4 | 0.4 | 0.5 | 28.5 | 0.5 | 0.4 |
| 税前利润IS_PRETAX_PROFIT | 11.5 | 26.1 | 25.1 | 27.0 | 21.3 | 32.1 | 36.3 | 31.1 | 27.7 | 65.5 | 40.7 | 43.2 |
| 所得税IS_TAX | 2.1 | 2.8 | 3.7 | 3.4 | 2.7 | 3.2 | 5.1 | 5.6 | 3.5 | 12.6 | 6.7 | 6.5 |
| 净利润IS_NET_PROFIT | 9.4 | 23.3 | 21.5 | 23.6 | 18.7 | 28.9 | 31.3 | 25.5 | 24.2 | 52.8 | 34.0 | 36.6 |
| 基本每股收益IS_EPS_BASIC | 5.40 | 4.99 | 5.52 | 0.68 | 0.74 | 0.60 | 1.25 | 0.81 | 0.89 | |||
| 摊薄每股收益IS_EPS_DILUTED | 5.28 | 4.88 | 5.40 | 0.66 | 0.72 | 0.59 | 1.23 | 0.80 | 0.87 | |||
| 基本加权股数IS_SHARES_BASIC | 4.32 | 4.30 | 4.28 | 42.73 | 42.52 | 42.45 | 42.23 | 41.89 | 41.34 | |||
| 摊薄加权股数IS_SHARES_DILUTED | 4.42 | 4.40 | 4.38 | 43.70 | 43.49 | 43.40 | 42.98 | 42.61 | 41.95 | |||
| 资产负债表 | ||||||||||||
| 总资产BS_TOTAL_ASSETS | 487.3 | 488.3 | 491.0 | 522.8 | 536.3 | 520.9 | 531.0 | 549.3 | 556.0 | 610.2 | 584.5 | 586.8 |
| 流动资产BS_CURRENT_ASSETS | 99.2 | 99.2 | 96.2 | 121.3 | 131.0 | 117.0 | 119.9 | 129.6 | 130.2 | 170.7 | 138.5 | 132.2 |
| 现金及等价物BS_CASH | 71.2 | 70.2 | 66.2 | 74.6 | 78.0 | 72.0 | 81.8 | 92.9 | 90.3 | 122.6 | 91.0 | 81.9 |
| 短期投资（有价证券/定期存款）BS_ST_INVESTMENTS | 0.2 | 0.2 | 0.3 | 17.7 | 17.8 | 11.7 | 2.1 | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 |
| 固定资产净值BS_PPE_NET | 14.9 | 15.0 | 15.1 | 15.7 | 15.9 | 16.4 | 17.4 | 18.4 | 20.0 | 21.5 | 24.0 | 25.6 |
| 总负债BS_TOTAL_LIABILITIES | 281.4 | 274.6 | 269.9 | 295.6 | 288.9 | 280.6 | 281.5 | 289.8 | 289.8 | 298.9 | 283.0 | 294.0 |
| 流动负债BS_CURRENT_LIABILITIES | 88.6 | 92.9 | 101.4 | 107.1 | 107.6 | 97.2 | 89.4 | 97.3 | 109.8 | 121.3 | 121.3 | 123.0 |
| 一年内到期借款BS_ST_DEBT | 4.0 | 8.0 | 18.0 | 18.2 | 17.8 | 10.1 | 0.0 | 0.0 | 10.0 | 10.0 | 24.8 | 24.7 |
| 应付账款BS_AP | 7.5 | 6.1 | 6.0 | 6.4 | 9.0 | 6.1 | 6.3 | 7.9 | 9.0 | 8.9 | 8.1 | 8.6 |
| 合同负债BS_CONTRACT_LIAB | 14.4 | 14.7 | 14.7 | 15.1 | 15.2 | 16.1 | 17.3 | 17.2 | 17.8 | 17.4 | 18.0 | 17.8 |
| 长期借款BS_LT_DEBT | 141.4 | 132.2 | 121.8 | 141.6 | 138.0 | 140.1 | 144.5 | 144.6 | 134.6 | 133.6 | 118.3 | 126.6 |
| 股东权益BS_TOTAL_EQUITY | 205.9 | 213.7 | 221.1 | 227.2 | 247.4 | 240.3 | 249.5 | 259.5 | 266.2 | 311.3 | 301.5 | 292.9 |
| 现金流量表 | ||||||||||||
| 经营活动现金流CF_OPERATING | 16.6 | 22.1 | 12.9 | 23.2 | 15.4 | 27.9 | 24.2 | 28.3 | 21.1 | 52.9 | 17.4 | 31.6 |
| 折旧摊销CF_DEPRECIATION | 0.9 | 0.9 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.9 | 0.9 | 1.0 | 1.0 | 1.1 |
| 股权激励费用CF_SBC | 0.8 | 0.8 | 0.7 | 0.7 | 0.6 | 0.7 | 0.8 | 0.8 | 1.3 | 1.4 | 1.3 | 1.3 |
| 投资活动现金流CF_INVESTING | 4.1 | -0.8 | -0.8 | -18.7 | -1.6 | 4.9 | 7.7 | 0.4 | -2.6 | -7.8 | -2.2 | -3.3 |
| 资本开支CF_CAPEX | 0.8 | 0.8 | 0.8 | 1.3 | 1.6 | 1.3 | 1.6 | 1.6 | 2.4 | 2.0 | 2.2 | 2.8 |
| 经营租赁新增使用权资产（非现金）CF_OPLEASE_ADDITIONS | 0.3 | 1.8 | 1.6 | 0.5 | 0.5 | 0.7 | 1.4 | 2.4 | 0.2 | 0.1 | 0.4 | 0.4 |
| 筹资活动现金流CF_FINANCING | -24.5 | -21.3 | -14.9 | 2.3 | -6.8 | -40.3 | -25.0 | -17.4 | -20.8 | -12.3 | -46.7 | -37.5 |
| 回购CF_BUYBACK | 25.0 | 20.0 | 16.0 | 17.0 | 9.6 | 35.4 | 16.5 | 18.6 | 20.8 | 12.7 | 47.1 | 48.0 |
| 财务指标 | ||||||||||||
| 毛利率GROSS_MARGIN | 39.9% | 46.9% | 45.9% | 47.9% | 43.7% | 50.1% | 51.9% | 46.4% | 45.9% | 51.9% | 51.9% | 52.8% |
| 营业利润率OPERATING_MARGIN | 16.9% | 28.1% | 27.2% | 29.6% | 22.2% | 31.7% | 34.1% | 28.2% | 24.5% | 32.3% | 33.4% | 34.6% |
| 净利率NET_MARGIN | 10.6% | 24.9% | 22.5% | 24.1% | 18.2% | 27.4% | 28.2% | 22.1% | 20.1% | 43.1% | 27.1% | 28.5% |
| 税后营业利润NOPAT | 12.2 | 23.5 | 22.2 | 25.4 | 19.9 | 30.1 | 32.5 | 26.6 | 25.8 | 31.9 | 35.1 | 37.8 |
| 税后营业利润率NOPAT_MARGIN | 13.8% | 25.1% | 23.3% | 25.9% | 19.4% | 28.6% | 29.3% | 23.1% | 21.4% | 26.1% | 27.9% | 29.4% |
| 投入资本INVESTED_CAPITAL | 276.1 | 275.6 | 276.7 | 294.2 | 307.4 | 308.4 | 312.3 | 311.3 | 310.5 | 322.3 | 328.8 | 337.5 |
| 投入资本周转率CAPITAL_TURNOVER | 1.28 | 1.36 | 1.38 | 1.34 | 1.33 | 1.37 | 1.42 | 1.48 | 1.55 | 1.52 | 1.53 | 1.53 |
| ROEROE | 4.6% | 10.9% | 9.7% | 10.4% | 7.6% | 12.0% | 12.5% | 9.8% | 9.1% | 17.0% | 11.3% | 12.5% |
| ROICROIC | 4.4% | 8.5% | 8.0% | 8.6% | 6.5% | 9.8% | 10.4% | 8.5% | 8.3% | 9.9% | 10.7% | 11.2% |
| 资产负债率DEBT_RATIO | 57.8% | 56.2% | 55.0% | 56.5% | 53.9% | 53.9% | 53.0% | 52.8% | 52.1% | 49.0% | 48.4% | 50.1% |
| 经营现金流/净利润OCF_TO_PROFIT | 177.3% | 94.9% | 60.1% | 98.2% | 82.2% | 96.5% | 77.5% | 110.9% | 87.3% | 100.1% | 51.3% | 86.3% |
| 应计比率ACCRUAL_RATIO | -1.5% | 0.2% | 1.7% | 0.1% | 0.6% | 0.2% | 1.3% | -0.5% | 0.6% | -0.0% | 2.8% | 0.9% |
| 营业外收支/税前利润NONOP_TO_PRETAX | -30.3% | -0.7% | -3.5% | -7.6% | -6.5% | -4.1% | -3.9% | -4.5% | -6.8% | 39.6% | -3.0% | -3.3% |
| 自由现金流FCF | 15.8 | 21.4 | 12.1 | 21.9 | 13.8 | 26.6 | 22.7 | 26.6 | 18.7 | 50.9 | 15.3 | 28.8 |
| 自由现金流利润率FCF_MARGIN | 17.9% | 22.8% | 12.7% | 22.3% | 13.5% | 25.2% | 20.5% | 23.1% | 15.5% | 41.6% | 12.1% | 22.4% |
| 股权激励/营收SBC_TO_REVENUE | 0.9% | 0.8% | 0.7% | 0.7% | 0.6% | 0.7% | 0.7% | 0.7% | 1.1% | 1.1% | 1.0% | 1.0% |
| 扣股权激励自由现金流FCF_AFTER_SBC | 15.0 | 20.6 | 11.4 | 21.3 | 13.2 | 25.9 | 21.9 | 25.8 | 17.4 | 49.5 | 13.9 | 27.5 |
| 资本开支/折旧摊销CAPEX_TO_DA | 0.94 | 0.87 | 0.96 | 1.57 | 1.99 | 1.60 | 1.95 | 1.89 | 2.78 | 1.99 | 2.17 | 2.60 |
| 固定资产周转率PPE_TURNOVER | 23.69 | 24.97 | 25.31 | 25.06 | 25.72 | 25.65 | 25.42 | 25.05 | 24.05 | 22.81 | 20.94 | 20.11 |
| 应付周转天数DPO | 12.8 | 11.1 | 10.6 | 11.4 | 14.2 | 10.7 | 10.8 | 11.7 | 12.6 | 13.9 | 12.3 | 12.9 |
| 合同负债同比CONTRACT_LIAB_YOY | 14.1% | 16.4% | 12.3% | 15.8% | 5.4% | 9.5% | 17.3% | 14.0% | 16.8% | 8.3% | 4.0% | 3.2% |
| 股东回报（派息+回购）SHAREHOLDER_RETURN | 25.0 | 20.0 | 16.0 | 17.0 | 9.6 | 35.4 | 16.5 | 18.6 | 20.8 | 12.7 | 47.1 | 48.0 |
| 股东回报/自由现金流SHAREHOLDER_RETURN_TO_FCF | 158.1% | 93.6% | 132.0% | 77.5% | 69.9% | 132.9% | 73.0% | 69.8% | 111.1% | 24.9% | 309.1% | 166.4% |
| 稀释率DILUTION_RATE | 2.2% | 2.2% | 2.3% | 2.3% | 2.3% | 2.3% | 1.8% | 1.7% | 1.5% | |||
勾稽校验（所示期间）：12 项， 全部通过