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ADTRAN Holdings, Inc.（ADTN）与Clearfield, Inc.（CLFD）财务数据对比。点击上方公司名可切换其他公司
ADTRAN Holdings, Inc.的季度营收约是Clearfield, Inc.的8.5倍（$291.6M vs $34.3M）。ADTRAN Holdings, Inc.净利率更高（-1.2% vs -1.8%，领先0.6%）。ADTRAN Holdings, Inc.同比增速更快（20.1% vs -3.2%）。ADTRAN Holdings, Inc.自由现金流更多（$30.6M vs $-2.4M）。过去两年ADTRAN Holdings, Inc.的营收复合增速更高（13.5% vs -3.5%）
ADTRAN Holdings, Inc.是一家总部位于美国阿拉巴马州亨茨维尔的光纤网络与电信企业，主要面向通信服务商、政府机构、企业及公共事业单位，供应面向住宅用户与企业级的网络硬件设备，同时提供用于网络管理与部署的管理软件。
Clearfield, Inc.总部位于美国明尼苏达州明尼阿波利斯市，是一家专注于光纤产品研发生产的企业，其产品主要应用于光纤通信网络建设领域，为通信基础设施部署提供相关硬件支撑。
ADTN vs CLFD — 直观对比
营收规模更大
ADTN
是对方的8.5倍
$34.3M
营收增速更快
ADTN
高出23.3%
-3.2%
净利率更高
ADTN
高出0.6%
-1.8%
自由现金流更多
ADTN
多$33.0M
$-2.4M
两年增速更快
ADTN
近两年复合增速
-3.5%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $291.6M | $34.3M |
| 净利润 | $-3.6M | $-614.0K |
| 毛利率 | 39.0% | 33.2% |
| 营业利润率 | 1.5% | -5.3% |
| 净利率 | -1.2% | -1.8% |
| 营收同比 | 20.1% | -3.2% |
| 净利润同比 | 92.2% | 67.8% |
| 每股收益（稀释后） | $-0.02 | $-0.04 |
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ADTNCLFD
| Q4 25 | $291.6M | $34.3M | ||
| Q3 25 | $279.4M | $23.4M | ||
| Q2 25 | $265.1M | $49.9M | ||
| Q1 25 | $247.7M | $47.2M | ||
| Q4 24 | $242.9M | $29.7M | ||
| Q3 24 | $227.7M | $5.6M | ||
| Q2 24 | $226.0M | $48.8M | ||
| Q1 24 | $226.2M | $36.9M |
净利润ADTNCLFD
| Q4 25 | $-3.6M | $-614.0K | ||
| Q3 25 | $-10.3M | $-9.1M | ||
| Q2 25 | $-20.5M | $1.6M | ||
| Q1 25 | $-11.3M | $1.3M | ||
| Q4 24 | $-46.1M | $-1.9M | ||
| Q3 24 | $-33.3M | $-827.0K | ||
| Q2 24 | $-49.7M | $-447.0K | ||
| Q1 24 | $-330.8M | $-5.9M |
毛利率ADTNCLFD
| Q4 25 | 39.0% | 33.2% | ||
| Q3 25 | 38.3% | 53.2% | ||
| Q2 25 | 37.3% | 30.5% | ||
| Q1 25 | 38.4% | 30.1% | ||
| Q4 24 | 36.9% | 29.2% | ||
| Q3 24 | 36.5% | — | ||
| Q2 24 | 36.0% | 21.9% | ||
| Q1 24 | 31.1% | 7.7% |
营业利润率ADTNCLFD
| Q4 25 | 1.5% | -5.3% | ||
| Q3 25 | -1.0% | 10.3% | ||
| Q2 25 | -5.0% | 3.0% | ||
| Q1 25 | -1.6% | 0.6% | ||
| Q4 24 | -6.9% | -6.9% | ||
| Q3 24 | -11.5% | 17.3% | ||
| Q2 24 | -17.0% | -4.7% | ||
| Q1 24 | -153.1% | -26.4% |
净利率ADTNCLFD
| Q4 25 | -1.2% | -1.8% | ||
| Q3 25 | -3.7% | -38.8% | ||
| Q2 25 | -7.7% | 3.2% | ||
| Q1 25 | -4.5% | 2.8% | ||
| Q4 24 | -19.0% | -6.4% | ||
| Q3 24 | -14.6% | -14.7% | ||
| Q2 24 | -22.0% | -0.9% | ||
| Q1 24 | -146.2% | -16.0% |
每股收益（稀释后）ADTNCLFD
| Q4 25 | $-0.02 | $-0.04 | ||
| Q3 25 | $-0.12 | $-0.65 | ||
| Q2 25 | $-0.24 | $0.11 | ||
| Q1 25 | $-0.14 | $0.09 | ||
| Q4 24 | $-0.58 | $-0.13 | ||
| Q3 24 | $-0.38 | $-0.06 | ||
| Q2 24 | $-0.63 | $-0.04 | ||
| Q1 24 | $-4.20 | $-0.40 |
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 | $95.7M | $96.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $145.8M | $249.7M |
| 总资产 | $1.2B | $268.1M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ADTNCLFD
| Q4 25 | $95.7M | $96.4M | ||
| Q3 25 | $93.7M | $106.0M | ||
| Q2 25 | $106.3M | $117.2M | ||
| Q1 25 | $101.3M | $112.0M | ||
| Q4 24 | $76.0M | $113.0M | ||
| Q3 24 | $88.5M | $129.0M | ||
| Q2 24 | $111.2M | $123.8M | ||
| Q1 24 | $106.8M | $142.9M |
总债务ADTNCLFD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.2M | ||
| Q2 24 | — | $2.1M | ||
| Q1 24 | — | — |
股东权益ADTNCLFD
| Q4 25 | $145.8M | $249.7M | ||
| Q3 25 | $141.6M | $256.2M | ||
| Q2 25 | $169.6M | $264.5M | ||
| Q1 25 | $138.9M | $265.9M | ||
| Q4 24 | $127.0M | $267.4M | ||
| Q3 24 | $205.6M | $275.8M | ||
| Q2 24 | $213.6M | $274.6M | ||
| Q1 24 | $260.8M | $279.2M |
总资产ADTNCLFD
| Q4 25 | $1.2B | $268.1M | ||
| Q3 25 | $1.2B | $306.2M | ||
| Q2 25 | $1.2B | $314.7M | ||
| Q1 25 | $1.2B | $310.9M | ||
| Q4 24 | $1.2B | $303.2M | ||
| Q3 24 | $1.3B | $315.3M | ||
| Q2 24 | $1.3B | $318.1M | ||
| Q1 24 | $1.3B | $315.4M |
负债/权益比ADTNCLFD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | 0.01× | ||
| 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 | $42.2M | $-1.4M |
| 自由现金流经营现金流 - 资本支出 | $30.6M | $-2.4M |
| 自由现金流率自由现金流/营收 | 10.5% | -7.1% |
| 资本支出强度资本支出/营收 | 4.0% | 2.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $98.0M | — |
8季度趋势，按日历期对齐
经营现金流ADTNCLFD
| Q4 25 | $42.2M | $-1.4M | ||
| Q3 25 | $12.2M | — | ||
| Q2 25 | $32.2M | $7.9M | ||
| Q1 25 | $43.2M | $3.0M | ||
| Q4 24 | $2.4M | $7.2M | ||
| Q3 24 | $43.3M | $13.1M | ||
| Q2 24 | $19.9M | $4.0M | ||
| Q1 24 | $37.9M | $-5.7M |
自由现金流ADTNCLFD
| Q4 25 | $30.6M | $-2.4M | ||
| Q3 25 | $4.2M | — | ||
| Q2 25 | $27.5M | $7.5M | ||
| Q1 25 | $35.8M | $654.0K | ||
| Q4 24 | $-895.0K | $5.1M | ||
| Q3 24 | $37.1M | $9.1M | ||
| Q2 24 | $8.4M | $2.8M | ||
| Q1 24 | $24.4M | $-7.7M |
自由现金流率ADTNCLFD
| Q4 25 | 10.5% | -7.1% | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 10.4% | 15.1% | ||
| Q1 25 | 14.4% | 1.4% | ||
| Q4 24 | -0.4% | 17.1% | ||
| Q3 24 | 16.3% | 160.9% | ||
| Q2 24 | 3.7% | 5.8% | ||
| Q1 24 | 10.8% | -20.8% |
资本支出强度ADTNCLFD
| Q4 25 | 4.0% | 2.9% | ||
| Q3 25 | 2.9% | 2.0% | ||
| Q2 25 | 1.8% | 0.8% | ||
| Q1 25 | 3.0% | 5.1% | ||
| Q4 24 | 1.4% | 7.0% | ||
| Q3 24 | 2.7% | 71.4% | ||
| Q2 24 | 5.1% | 2.5% | ||
| Q1 24 | 6.0% | 5.3% |
现金转化率ADTNCLFD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.93× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
ADTN
| Subscriber Solutions | $96.2M | 33% |
| Optical Networking Solutions | $81.8M | 28% |
| Access Aggregation Solutions | $64.6M | 22% |
| Services And Support | $48.9M | 17% |
CLFD
暂无分部数据
