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亚德诺半导体（ADI）与VIAVI SOLUTIONS INC.（VIAV）财务数据对比。点击上方公司名可切换其他公司
亚德诺半导体的季度营收约是VIAVI SOLUTIONS INC.的8.6倍（$3.2B vs $369.3M），亚德诺半导体净利率更高（26.3% vs -13.0%，领先39.3%），VIAVI SOLUTIONS INC.同比增速更快（36.4% vs 30.4%），亚德诺半导体自由现金流更多（$1.3B vs $36.9M），过去两年VIAVI SOLUTIONS INC.的营收复合增速更高（22.5% vs 21.0%）
亚德诺半导体（ADI）是总部位于美国马萨诸塞州威尔明顿的跨国半导体企业，专注于数据转换、信号处理与电源管理技术研发，相关产品广泛应用于通信、工业、汽车等多个领域，是全球模拟芯片领域的领先厂商。
VIAVI Solutions前身为JDS Uniphase（JDSU）的一部分，是总部位于美国亚利桑那州钱德勒的网络测试、测量与保障技术企业，主营网络测试和监控设备，同时研发的光学技术可应用于材料质量管控、货币防伪、3D动作传感等多个领域，微软Kinect体感游戏控制器的相关技术也来自该公司。
ADI vs VIAV — 直观对比
营收规模更大
ADI
是对方的8.6倍
$369.3M
营收增速更快
VIAV
高出6.0%
30.4%
净利率更高
ADI
高出39.3%
-13.0%
自由现金流更多
ADI
多$1.2B
$36.9M
两年增速更快
VIAV
近两年复合增速
21.0%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $369.3M |
| 净利润 | $830.8M | $-48.1M |
| 毛利率 | 64.7% | 57.0% |
| 营业利润率 | 31.5% | 3.1% |
| 净利率 | 26.3% | -13.0% |
| 营收同比 | 30.4% | 36.4% |
| 净利润同比 | 112.3% | -628.6% |
| 每股收益（稀释后） | $1.69 | $-0.21 |
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ADIVIAV
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $369.3M | ||
| Q3 25 | $2.9B | $299.1M | ||
| Q2 25 | $2.6B | $290.5M | ||
| Q1 25 | $2.4B | $284.8M | ||
| Q4 24 | $2.4B | $270.8M | ||
| Q3 24 | $2.3B | $238.2M | ||
| Q2 24 | $2.2B | $252.0M |
净利润ADIVIAV
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $-48.1M | ||
| Q3 25 | $518.5M | $-21.4M | ||
| Q2 25 | $569.8M | $8.0M | ||
| Q1 25 | $391.3M | $19.5M | ||
| Q4 24 | $478.1M | $9.1M | ||
| Q3 24 | $392.2M | $-1.8M | ||
| Q2 24 | $302.2M | $-21.7M |
毛利率ADIVIAV
| Q1 26 | 64.7% | — | ||
| Q4 25 | 63.1% | 57.0% | ||
| Q3 25 | 62.1% | 56.5% | ||
| Q2 25 | 61.0% | 56.3% | ||
| Q1 25 | 59.0% | 56.4% | ||
| Q4 24 | 58.0% | 59.4% | ||
| Q3 24 | 56.7% | 57.1% | ||
| Q2 24 | 54.7% | 57.8% |
营业利润率ADIVIAV
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 3.1% | ||
| Q3 25 | 28.4% | 2.5% | ||
| Q2 25 | 25.7% | 5.3% | ||
| Q1 25 | 20.3% | 3.0% | ||
| Q4 24 | 23.3% | 8.2% | ||
| Q3 24 | 21.2% | 4.8% | ||
| Q2 24 | 17.9% | -2.3% |
净利率ADIVIAV
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | -13.0% | ||
| Q3 25 | 18.0% | -7.2% | ||
| Q2 25 | 21.6% | 2.8% | ||
| Q1 25 | 16.1% | 6.8% | ||
| Q4 24 | 19.6% | 3.4% | ||
| Q3 24 | 17.0% | -0.8% | ||
| Q2 24 | 14.0% | -8.6% |
每股收益（稀释后）ADIVIAV
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | $-0.21 | ||
| Q3 25 | $1.04 | $-0.10 | ||
| Q2 25 | $1.14 | $0.03 | ||
| Q1 25 | $0.78 | $0.09 | ||
| Q4 24 | $0.95 | $0.04 | ||
| Q3 24 | $0.79 | $-0.01 | ||
| Q2 24 | $0.61 | $-0.10 |
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 | $2.9B | $767.4M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $33.8B | $834.3M |
| 总资产 | $48.0B | $2.8B |
| 负债/权益比越低杠杆越低 | — | 1.46× |
8季度趋势，按日历期对齐
现金及短期投资ADIVIAV
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $767.4M | ||
| Q3 25 | $2.3B | $545.6M | ||
| Q2 25 | $2.4B | $425.3M | ||
| Q1 25 | $2.3B | $396.8M | ||
| Q4 24 | $2.4B | $509.4M | ||
| Q3 24 | $2.1B | $493.1M | ||
| Q2 24 | $2.4B | $491.2M |
总债务ADIVIAV
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $640.5M | ||
| Q2 25 | — | $396.3M | ||
| Q1 25 | — | $396.1M | ||
| Q4 24 | — | $639.3M | ||
| Q3 24 | — | $637.6M | ||
| Q2 24 | — | $636.0M |
股东权益ADIVIAV
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $834.3M | ||
| Q3 25 | $34.1B | $723.9M | ||
| Q2 25 | $35.0B | $780.2M | ||
| Q1 25 | $35.1B | $728.8M | ||
| Q4 24 | $35.2B | $682.8M | ||
| Q3 24 | $35.2B | $702.1M | ||
| Q2 24 | $35.2B | $681.6M |
总资产ADIVIAV
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $2.8B | ||
| Q3 25 | $48.2B | $2.1B | ||
| Q2 25 | $47.3B | $2.0B | ||
| Q1 25 | $48.0B | $1.9B | ||
| Q4 24 | $48.2B | $1.7B | ||
| Q3 24 | $48.6B | $1.7B | ||
| Q2 24 | $48.9B | $1.7B |
负债/权益比ADIVIAV
| Q1 26 | — | — | ||
| Q4 25 | — | 1.46× | ||
| Q3 25 | — | 0.88× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 0.54× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | — | 0.93× |
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 | $1.4B | $42.5M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $36.9M |
| 自由现金流率自由现金流/营收 | 39.8% | 10.0% |
| 资本支出强度资本支出/营收 | 3.5% | 1.5% |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | $4.6B | $78.7M |
8季度趋势，按日历期对齐
经营现金流ADIVIAV
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $42.5M | ||
| Q3 25 | $1.2B | $31.0M | ||
| Q2 25 | $819.5M | $23.8M | ||
| Q1 25 | $1.1B | $7.8M | ||
| Q4 24 | $1.1B | $44.7M | ||
| Q3 24 | $855.0M | $13.5M | ||
| Q2 24 | $807.9M | $26.2M |
自由现金流ADIVIAV
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $36.9M | ||
| Q3 25 | $1.1B | $22.5M | ||
| Q2 25 | $729.2M | $18.3M | ||
| Q1 25 | $977.8M | $1.0M | ||
| Q4 24 | $885.4M | $36.5M | ||
| Q3 24 | $701.1M | $6.2M | ||
| Q2 24 | $619.7M | $22.4M |
自由现金流率ADIVIAV
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | 10.0% | ||
| Q3 25 | 37.7% | 7.5% | ||
| Q2 25 | 27.6% | 6.3% | ||
| Q1 25 | 40.4% | 0.4% | ||
| Q4 24 | 36.2% | 13.5% | ||
| Q3 24 | 30.3% | 2.6% | ||
| Q2 24 | 28.7% | 8.9% |
资本支出强度ADIVIAV
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 1.5% | ||
| Q3 25 | 2.7% | 2.8% | ||
| Q2 25 | 3.4% | 1.9% | ||
| Q1 25 | 6.1% | 2.4% | ||
| Q4 24 | 6.8% | 3.0% | ||
| Q3 24 | 6.7% | 3.1% | ||
| Q2 24 | 8.7% | 1.5% |
现金转化率ADIVIAV
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | — | ||
| Q3 25 | 2.25× | — | ||
| Q2 25 | 1.44× | 2.98× | ||
| Q1 25 | 2.88× | 0.40× | ||
| Q4 24 | 2.20× | 4.91× | ||
| Q3 24 | 2.18× | — | ||
| Q2 24 | 2.67× | — |
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
ADI
| Sales Channel Directly To Consumer | $1.4B | 44% |
| Automotive | $794.4M | 25% |
| Communications | $476.8M | 15% |
| Consumer | $399.8M | 13% |
| Other | $71.3M | 2% |
| Sales Channel Other | $40.8M | 1% |
VIAV
| Products | $317.3M | 86% |
| Services | $52.0M | 14% |
