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ADTRAN Holdings, Inc.（ADTN）与Fabrinet（FN）财务数据对比。点击上方公司名可切换其他公司
Fabrinet的季度营收约是ADTRAN Holdings, Inc.的3.9倍（$1.1B vs $291.6M）。Fabrinet净利率更高（9.9% vs -1.2%，领先11.2%）。Fabrinet同比增速更快（35.9% vs 20.1%）。ADTRAN Holdings, Inc.自由现金流更多（$30.6M vs $-5.3M）。过去两年Fabrinet的营收复合增速更高（24.4% vs 13.5%）
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。
Fabrinet（股票代码FN）为标普中型股400指数成分股。该指数由标普道琼斯指数公司维护，覆盖400家以美企为主的中等市值企业，若成分企业存在多类流通股，指数的成分股总量有时会超过400只。
ADTN vs FN — 直观对比
营收规模更大
FN
是对方的3.9倍
$291.6M
营收增速更快
FN
高出15.8%
20.1%
净利率更高
FN
高出11.2%
-1.2%
自由现金流更多
ADTN
多$35.9M
$-5.3M
两年增速更快
FN
近两年复合增速
13.5%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $291.6M | $1.1B |
| 净利润 | $-3.6M | $112.6M |
| 毛利率 | 39.0% | 12.2% |
| 营业利润率 | 1.5% | 10.1% |
| 净利率 | -1.2% | 9.9% |
| 营收同比 | 20.1% | 35.9% |
| 净利润同比 | 92.2% | 30.0% |
| 每股收益（稀释后） | $-0.02 | $3.11 |
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ADTNFN
| Q4 25 | $291.6M | $1.1B | ||
| Q3 25 | $279.4M | $978.1M | ||
| Q2 25 | $265.1M | $909.7M | ||
| Q1 25 | $247.7M | $871.8M | ||
| Q4 24 | $242.9M | $833.6M | ||
| Q3 24 | $227.7M | $804.2M | ||
| Q2 24 | $226.0M | $753.3M | ||
| Q1 24 | $226.2M | $731.5M |
净利润ADTNFN
| Q4 25 | $-3.6M | $112.6M | ||
| Q3 25 | $-10.3M | $95.9M | ||
| Q2 25 | $-20.5M | $87.2M | ||
| Q1 25 | $-11.3M | $81.3M | ||
| Q4 24 | $-46.1M | $86.6M | ||
| Q3 24 | $-33.3M | $77.4M | ||
| Q2 24 | $-49.7M | $81.1M | ||
| Q1 24 | $-330.8M | $80.9M |
毛利率ADTNFN
| Q4 25 | 39.0% | 12.2% | ||
| Q3 25 | 38.3% | 11.9% | ||
| Q2 25 | 37.3% | 12.2% | ||
| Q1 25 | 38.4% | 11.7% | ||
| Q4 24 | 36.9% | 12.1% | ||
| Q3 24 | 36.5% | 12.3% | ||
| Q2 24 | 36.0% | 12.3% | ||
| Q1 24 | 31.1% | 12.4% |
营业利润率ADTNFN
| Q4 25 | 1.5% | 10.1% | ||
| Q3 25 | -1.0% | 9.6% | ||
| Q2 25 | -5.0% | 9.8% | ||
| Q1 25 | -1.6% | 9.0% | ||
| Q4 24 | -6.9% | 9.5% | ||
| Q3 24 | -11.5% | 9.6% | ||
| Q2 24 | -17.0% | 9.7% | ||
| Q1 24 | -153.1% | 9.7% |
净利率ADTNFN
| Q4 25 | -1.2% | 9.9% | ||
| Q3 25 | -3.7% | 9.8% | ||
| Q2 25 | -7.7% | 9.6% | ||
| Q1 25 | -4.5% | 9.3% | ||
| Q4 24 | -19.0% | 10.4% | ||
| Q3 24 | -14.6% | 9.6% | ||
| Q2 24 | -22.0% | 10.8% | ||
| Q1 24 | -146.2% | 11.1% |
每股收益（稀释后）ADTNFN
| Q4 25 | $-0.02 | $3.11 | ||
| Q3 25 | $-0.12 | $2.66 | ||
| Q2 25 | $-0.24 | $2.41 | ||
| Q1 25 | $-0.14 | $2.25 | ||
| Q4 24 | $-0.58 | $2.38 | ||
| Q3 24 | $-0.38 | $2.13 | ||
| Q2 24 | $-0.63 | $2.22 | ||
| Q1 24 | $-4.20 | $2.21 |
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 | $960.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $145.8M | $2.2B |
| 总资产 | $1.2B | $3.3B |
| 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ADTNFN
| Q4 25 | $95.7M | $960.8M | ||
| Q3 25 | $93.7M | $968.8M | ||
| Q2 25 | $106.3M | $934.2M | ||
| Q1 25 | $101.3M | $950.7M | ||
| Q4 24 | $76.0M | $934.6M | ||
| Q3 24 | $88.5M | $908.9M | ||
| Q2 24 | $111.2M | $858.6M | ||
| Q1 24 | $106.8M | $794.0M |
股东权益ADTNFN
| Q4 25 | $145.8M | $2.2B | ||
| Q3 25 | $141.6M | $2.1B | ||
| Q2 25 | $169.6M | $2.0B | ||
| Q1 25 | $138.9M | $1.9B | ||
| Q4 24 | $127.0M | $1.8B | ||
| Q3 24 | $205.6M | $1.8B | ||
| Q2 24 | $213.6M | $1.7B | ||
| Q1 24 | $260.8M | $1.7B |
总资产ADTNFN
| Q4 25 | $1.2B | $3.3B | ||
| Q3 25 | $1.2B | $3.0B | ||
| Q2 25 | $1.2B | $2.8B | ||
| Q1 25 | $1.2B | $2.6B | ||
| Q4 24 | $1.2B | $2.5B | ||
| Q3 24 | $1.3B | $2.4B | ||
| Q2 24 | $1.3B | $2.3B | ||
| Q1 24 | $1.3B | $2.2B |
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 | $46.3M |
| 自由现金流经营现金流 - 资本支出 | $30.6M | $-5.3M |
| 自由现金流率自由现金流/营收 | 10.5% | -0.5% |
| 资本支出强度资本支出/营收 | 4.0% | 4.6% |
| 现金转化率经营现金流/净利润 | — | 0.41× |
| 过去12个月自由现金流最近4个季度 | $98.0M | $102.3M |
8季度趋势，按日历期对齐
经营现金流ADTNFN
| Q4 25 | $42.2M | $46.3M | ||
| Q3 25 | $12.2M | $102.6M | ||
| Q2 25 | $32.2M | $55.1M | ||
| Q1 25 | $43.2M | $74.2M | ||
| Q4 24 | $2.4M | $115.9M | ||
| Q3 24 | $43.3M | $83.2M | ||
| Q2 24 | $19.9M | $83.1M | ||
| Q1 24 | $37.9M | $100.9M |
自由现金流ADTNFN
| Q4 25 | $30.6M | $-5.3M | ||
| Q3 25 | $4.2M | $57.3M | ||
| Q2 25 | $27.5M | $4.7M | ||
| Q1 25 | $35.8M | $45.7M | ||
| Q4 24 | $-895.0K | $94.0M | ||
| Q3 24 | $37.1M | $62.9M | ||
| Q2 24 | $8.4M | $70.4M | ||
| Q1 24 | $24.4M | $87.3M |
自由现金流率ADTNFN
| Q4 25 | 10.5% | -0.5% | ||
| Q3 25 | 1.5% | 5.9% | ||
| Q2 25 | 10.4% | 0.5% | ||
| Q1 25 | 14.4% | 5.2% | ||
| Q4 24 | -0.4% | 11.3% | ||
| Q3 24 | 16.3% | 7.8% | ||
| Q2 24 | 3.7% | 9.3% | ||
| Q1 24 | 10.8% | 11.9% |
资本支出强度ADTNFN
| Q4 25 | 4.0% | 4.6% | ||
| Q3 25 | 2.9% | 4.6% | ||
| Q2 25 | 1.8% | 5.5% | ||
| Q1 25 | 3.0% | 3.3% | ||
| Q4 24 | 1.4% | 2.6% | ||
| Q3 24 | 2.7% | 2.5% | ||
| Q2 24 | 5.1% | 1.7% | ||
| Q1 24 | 6.0% | 1.9% |
现金转化率ADTNFN
| Q4 25 | — | 0.41× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 1.34× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.02× | ||
| Q1 24 | — | 1.25× |
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% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
