vs
ADTRAN Holdings, Inc.（ADTN）与网件（NTGR）财务数据对比。点击上方公司名可切换其他公司
ADTRAN Holdings, Inc.的季度营收约是网件的1.6倍（$291.6M vs $182.5M）。ADTRAN Holdings, Inc.同比增速更快（20.1% vs 0.0%）。ADTRAN Holdings, Inc.自由现金流更多（$30.6M vs $13.6M）。过去两年ADTRAN Holdings, Inc.的营收复合增速更高（13.5% vs 5.3%）
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。
网件是总部位于美国加利福尼亚州圣何塞的计算机网络设备企业，在全球约22个国家设有分支机构，面向个人消费者、企业及服务提供商研发生产各类网络硬件，业务分为零售、商业客户、服务供应商三大板块。
ADTN vs NTGR — 直观对比
营收规模更大
ADTN
是对方的1.6倍
$182.5M
营收增速更快
ADTN
高出20.0%
0.0%
自由现金流更多
ADTN
多$16.9M
$13.6M
两年增速更快
ADTN
近两年复合增速
5.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $291.6M | $182.5M |
| 净利润 | $-3.6M | — |
| 毛利率 | 39.0% | 40.4% |
| 营业利润率 | 1.5% | -2.6% |
| 净利率 | -1.2% | — |
| 营收同比 | 20.1% | 0.0% |
| 净利润同比 | 92.2% | — |
| 每股收益（稀释后） | $-0.02 | $-0.03 |
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ADTNNTGR
| Q4 25 | $291.6M | $182.5M | ||
| Q3 25 | $279.4M | $184.6M | ||
| Q2 25 | $265.1M | $170.5M | ||
| Q1 25 | $247.7M | $162.1M | ||
| Q4 24 | $242.9M | $182.4M | ||
| Q3 24 | $227.7M | $182.9M | ||
| Q2 24 | $226.0M | $143.9M | ||
| Q1 24 | $226.2M | $164.6M |
净利润ADTNNTGR
| Q4 25 | $-3.6M | — | ||
| Q3 25 | $-10.3M | $-4.8M | ||
| Q2 25 | $-20.5M | $-6.4M | ||
| Q1 25 | $-11.3M | $-6.0M | ||
| Q4 24 | $-46.1M | $-8.9M | ||
| Q3 24 | $-33.3M | $85.1M | ||
| Q2 24 | $-49.7M | $-45.2M | ||
| Q1 24 | $-330.8M | $-18.6M |
毛利率ADTNNTGR
| Q4 25 | 39.0% | 40.4% | ||
| Q3 25 | 38.3% | 39.1% | ||
| Q2 25 | 37.3% | 37.5% | ||
| Q1 25 | 38.4% | 34.8% | ||
| Q4 24 | 36.9% | 32.6% | ||
| Q3 24 | 36.5% | 30.9% | ||
| Q2 24 | 36.0% | 22.1% | ||
| Q1 24 | 31.1% | 29.3% |
营业利润率ADTNNTGR
| Q4 25 | 1.5% | -2.6% | ||
| Q3 25 | -1.0% | -3.8% | ||
| Q2 25 | -5.0% | -5.6% | ||
| Q1 25 | -1.6% | -7.9% | ||
| Q4 24 | -6.9% | -8.3% | ||
| Q3 24 | -11.5% | 52.4% | ||
| Q2 24 | -17.0% | -32.6% | ||
| Q1 24 | -153.1% | -13.2% |
净利率ADTNNTGR
| Q4 25 | -1.2% | — | ||
| Q3 25 | -3.7% | -2.6% | ||
| Q2 25 | -7.7% | -3.8% | ||
| Q1 25 | -4.5% | -3.7% | ||
| Q4 24 | -19.0% | -4.9% | ||
| Q3 24 | -14.6% | 46.5% | ||
| Q2 24 | -22.0% | -31.4% | ||
| Q1 24 | -146.2% | -11.3% |
每股收益（稀释后）ADTNNTGR
| Q4 25 | $-0.02 | $-0.03 | ||
| Q3 25 | $-0.12 | $-0.17 | ||
| Q2 25 | $-0.24 | $-0.22 | ||
| Q1 25 | $-0.14 | $-0.21 | ||
| Q4 24 | $-0.58 | $-0.29 | ||
| Q3 24 | $-0.38 | $2.90 | ||
| Q2 24 | $-0.63 | $-1.56 | ||
| Q1 24 | $-4.20 | $-0.63 |
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 | $323.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $145.8M | $497.8M |
| 总资产 | $1.2B | $836.3M |
| 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ADTNNTGR
| Q4 25 | $95.7M | $323.0M | ||
| Q3 25 | $93.7M | $326.4M | ||
| Q2 25 | $106.3M | $363.5M | ||
| Q1 25 | $101.3M | $391.9M | ||
| Q4 24 | $76.0M | $408.7M | ||
| Q3 24 | $88.5M | $395.7M | ||
| Q2 24 | $111.2M | $294.3M | ||
| Q1 24 | $106.8M | $289.4M |
股东权益ADTNNTGR
| Q4 25 | $145.8M | $497.8M | ||
| Q3 25 | $141.6M | $506.8M | ||
| Q2 25 | $169.6M | $523.2M | ||
| Q1 25 | $138.9M | $534.2M | ||
| Q4 24 | $127.0M | $541.1M | ||
| Q3 24 | $205.6M | $550.3M | ||
| Q2 24 | $213.6M | $459.4M | ||
| Q1 24 | $260.8M | $511.4M |
总资产ADTNNTGR
| Q4 25 | $1.2B | $836.3M | ||
| Q3 25 | $1.2B | $810.8M | ||
| Q2 25 | $1.2B | $803.5M | ||
| Q1 25 | $1.2B | $814.2M | ||
| Q4 24 | $1.2B | $850.2M | ||
| Q3 24 | $1.3B | $862.6M | ||
| Q2 24 | $1.3B | $754.1M | ||
| Q1 24 | $1.3B | $801.3M |
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 | $19.5M |
| 自由现金流经营现金流 - 资本支出 | $30.6M | $13.6M |
| 自由现金流率自由现金流/营收 | 10.5% | 7.5% |
| 资本支出强度资本支出/营收 | 4.0% | 3.2% |
| 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 | $-18.9M |
8季度趋势，按日历期对齐
经营现金流ADTNNTGR
| Q4 25 | $42.2M | $19.5M | ||
| Q3 25 | $12.2M | $-7.4M | ||
| Q2 25 | $32.2M | $-1.8M | ||
| Q1 25 | $43.2M | $-8.7M | ||
| Q4 24 | $2.4M | $21.5M | ||
| Q3 24 | $43.3M | $107.7M | ||
| Q2 24 | $19.9M | $18.4M | ||
| Q1 24 | $37.9M | $17.2M |
自由现金流ADTNNTGR
| Q4 25 | $30.6M | $13.6M | ||
| Q3 25 | $4.2M | $-17.1M | ||
| Q2 25 | $27.5M | $-5.3M | ||
| Q1 25 | $35.8M | $-10.1M | ||
| Q4 24 | $-895.0K | $19.0M | ||
| Q3 24 | $37.1M | $106.0M | ||
| Q2 24 | $8.4M | $16.1M | ||
| Q1 24 | $24.4M | $14.7M |
自由现金流率ADTNNTGR
| Q4 25 | 10.5% | 7.5% | ||
| Q3 25 | 1.5% | -9.3% | ||
| Q2 25 | 10.4% | -3.1% | ||
| Q1 25 | 14.4% | -6.3% | ||
| Q4 24 | -0.4% | 10.4% | ||
| Q3 24 | 16.3% | 58.0% | ||
| Q2 24 | 3.7% | 11.2% | ||
| Q1 24 | 10.8% | 8.9% |
资本支出强度ADTNNTGR
| Q4 25 | 4.0% | 3.2% | ||
| Q3 25 | 2.9% | 5.3% | ||
| Q2 25 | 1.8% | 2.1% | ||
| Q1 25 | 3.0% | 0.9% | ||
| Q4 24 | 1.4% | 1.4% | ||
| Q3 24 | 2.7% | 0.9% | ||
| Q2 24 | 5.1% | 1.6% | ||
| Q1 24 | 6.0% | 1.5% |
现金转化率ADTNNTGR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.27× | ||
| 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% |
NTGR
暂无分部数据
