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ADTRAN Holdings, Inc.（ADTN）与GIBRALTAR INDUSTRIES, INC.（ROCK）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GIBRALTAR INDUSTRIES, INC.的1.3倍（$291.6M vs $225.0M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs 20.1%），ADTRAN Holdings, Inc.自由现金流更多（$30.6M vs $26.2M），过去两年ADTRAN Holdings, Inc.的营收复合增速更高（13.5% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
ADTN vs ROCK — 直观对比
营收规模更大
ADTN
是对方的1.3倍
$225.0M
营收增速更快
ROCK
高出4.9%
20.1%
自由现金流更多
ADTN
多$4.4M
$26.2M
两年增速更快
ADTN
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.6M | $225.0M |
| 净利润 | $-3.6M | — |
| 毛利率 | 39.0% | 25.3% |
| 营业利润率 | 1.5% | 7.9% |
| 净利率 | -1.2% | — |
| 营收同比 | 20.1% | 24.9% |
| 净利润同比 | 92.2% | — |
| 每股收益（稀释后） | $-0.02 | — |
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ADTNROCK
| Q4 25 | $291.6M | $225.0M | ||
| Q3 25 | $279.4M | $310.9M | ||
| Q2 25 | $265.1M | $309.5M | ||
| Q1 25 | $247.7M | $290.0M | ||
| Q4 24 | $242.9M | $180.1M | ||
| Q3 24 | $227.7M | $277.1M | ||
| Q2 24 | $226.0M | $273.6M | ||
| Q1 24 | $226.2M | $292.5M |
净利润ADTNROCK
| Q4 25 | $-3.6M | — | ||
| Q3 25 | $-10.3M | $-89.1M | ||
| Q2 25 | $-20.5M | $26.0M | ||
| Q1 25 | $-11.3M | $21.1M | ||
| Q4 24 | $-46.1M | — | ||
| Q3 24 | $-33.3M | $34.0M | ||
| Q2 24 | $-49.7M | $32.2M | ||
| Q1 24 | $-330.8M | $24.9M |
毛利率ADTNROCK
| Q4 25 | 39.0% | 25.3% | ||
| Q3 25 | 38.3% | 26.6% | ||
| Q2 25 | 37.3% | 28.4% | ||
| Q1 25 | 38.4% | 26.8% | ||
| Q4 24 | 36.9% | 29.0% | ||
| Q3 24 | 36.5% | 29.4% | ||
| Q2 24 | 36.0% | 30.5% | ||
| Q1 24 | 31.1% | 28.9% |
营业利润率ADTNROCK
| Q4 25 | 1.5% | 7.9% | ||
| Q3 25 | -1.0% | 12.8% | ||
| Q2 25 | -5.0% | 12.8% | ||
| Q1 25 | -1.6% | 8.8% | ||
| Q4 24 | -6.9% | 13.3% | ||
| Q3 24 | -11.5% | 15.6% | ||
| Q2 24 | -17.0% | 14.9% | ||
| Q1 24 | -153.1% | 10.8% |
净利率ADTNROCK
| Q4 25 | -1.2% | — | ||
| Q3 25 | -3.7% | -28.6% | ||
| Q2 25 | -7.7% | 8.4% | ||
| Q1 25 | -4.5% | 7.3% | ||
| Q4 24 | -19.0% | — | ||
| Q3 24 | -14.6% | 12.3% | ||
| Q2 24 | -22.0% | 11.8% | ||
| Q1 24 | -146.2% | 8.5% |
每股收益（稀释后）ADTNROCK
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $-0.12 | $-2.98 | ||
| Q2 25 | $-0.24 | $0.87 | ||
| Q1 25 | $-0.14 | — | ||
| Q4 24 | $-0.58 | — | ||
| Q3 24 | $-0.38 | $1.11 | ||
| Q2 24 | $-0.63 | $1.05 | ||
| Q1 24 | $-4.20 | — |
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 | $115.7M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $145.8M | $950.4M |
| 总资产 | $1.2B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ADTNROCK
| Q4 25 | $95.7M | $115.7M | ||
| Q3 25 | $93.7M | $89.4M | ||
| Q2 25 | $106.3M | $43.3M | ||
| Q1 25 | $101.3M | $25.1M | ||
| Q4 24 | $76.0M | $269.5M | ||
| Q3 24 | $88.5M | $228.9M | ||
| Q2 24 | $111.2M | $179.1M | ||
| Q1 24 | $106.8M | $146.7M |
总债务ADTNROCK
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
股东权益ADTNROCK
| Q4 25 | $145.8M | $950.4M | ||
| Q3 25 | $141.6M | $951.8M | ||
| Q2 25 | $169.6M | $1.0B | ||
| Q1 25 | $138.9M | $1.0B | ||
| Q4 24 | $127.0M | $1.0B | ||
| Q3 24 | $205.6M | $1.0B | ||
| Q2 24 | $213.6M | $975.7M | ||
| Q1 24 | $260.8M | $940.2M |
总资产ADTNROCK
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $1.3B | $1.4B | ||
| Q1 24 | $1.3B | $1.3B |
负债/权益比ADTNROCK
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $30.6M | $26.2M |
| 自由现金流率自由现金流/营收 | 10.5% | 11.7% |
| 资本支出强度资本支出/营收 | 4.0% | 4.1% |
| 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 | $120.6M |
8季度趋势，按日历期对齐
经营现金流ADTNROCK
| Q4 25 | $42.2M | $35.5M | ||
| Q3 25 | $12.2M | $73.0M | ||
| Q2 25 | $32.2M | $44.9M | ||
| Q1 25 | $43.2M | $13.7M | ||
| Q4 24 | $2.4M | $19.9M | ||
| Q3 24 | $43.3M | $64.7M | ||
| Q2 24 | $19.9M | $36.5M | ||
| Q1 24 | $37.9M | $53.2M |
自由现金流ADTNROCK
| Q4 25 | $30.6M | $26.2M | ||
| Q3 25 | $4.2M | $64.8M | ||
| Q2 25 | $27.5M | $27.3M | ||
| Q1 25 | $35.8M | $2.3M | ||
| Q4 24 | $-895.0K | $14.1M | ||
| Q3 24 | $37.1M | $60.5M | ||
| Q2 24 | $8.4M | $33.5M | ||
| Q1 24 | $24.4M | $48.8M |
自由现金流率ADTNROCK
| Q4 25 | 10.5% | 11.7% | ||
| Q3 25 | 1.5% | 20.8% | ||
| Q2 25 | 10.4% | 8.8% | ||
| Q1 25 | 14.4% | 0.8% | ||
| Q4 24 | -0.4% | 7.8% | ||
| Q3 24 | 16.3% | 21.8% | ||
| Q2 24 | 3.7% | 12.2% | ||
| Q1 24 | 10.8% | 16.7% |
资本支出强度ADTNROCK
| Q4 25 | 4.0% | 4.1% | ||
| Q3 25 | 2.9% | 2.6% | ||
| Q2 25 | 1.8% | 5.7% | ||
| Q1 25 | 3.0% | 3.9% | ||
| Q4 24 | 1.4% | 3.3% | ||
| Q3 24 | 2.7% | 1.5% | ||
| Q2 24 | 5.1% | 1.1% | ||
| Q1 24 | 6.0% | 1.5% |
现金转化率ADTNROCK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.90× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
