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AlTi Global, Inc.（ALTI）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
Ribbon Communications Inc.的季度营收约是AlTi Global, Inc.的1.9倍（$162.6M vs $86.6M），Ribbon Communications Inc.净利率更高（54.8% vs -15.1%，领先69.9%），AlTi Global, Inc.同比增速更快（87.0% vs -10.3%），过去两年AlTi Global, Inc.的营收复合增速更高（30.6% vs -8.1%）
该公司原名Cristal Global，是全球第二大二氧化钛生产商，同时也是钛化学品的龙头供应商，由原国家二氧化钛有限公司与 Millennium Chemicals 合并组建而成，总部设于沙特阿拉伯吉达。该公司是全球第五大二氧化钛原料生产商Bemax的重要股东。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
ALTI vs RBBN — 直观对比
营收规模更大
RBBN
是对方的1.9倍
$86.6M
营收增速更快
ALTI
高出97.3%
-10.3%
净利率更高
RBBN
高出69.9%
-15.1%
两年增速更快
ALTI
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $86.6M | $162.6M |
| 净利润 | $-13.1M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | -2.1% | 37.6% |
| 净利率 | -15.1% | 54.8% |
| 营收同比 | 87.0% | -10.3% |
| 净利润同比 | 75.6% | — |
| 每股收益（稀释后） | — | $0.50 |
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ALTIRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $86.6M | $227.3M | ||
| Q3 25 | $57.2M | $215.4M | ||
| Q2 25 | $53.1M | $220.6M | ||
| Q1 25 | $58.0M | $181.3M | ||
| Q4 24 | $46.3M | $251.4M | ||
| Q3 24 | $51.8M | $210.2M | ||
| Q2 24 | $49.5M | $192.6M |
净利润ALTIRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-13.1M | — | ||
| Q3 25 | $-84.1M | $-12.1M | ||
| Q2 25 | $-24.4M | $-11.1M | ||
| Q1 25 | $1.9M | $-26.2M | ||
| Q4 24 | $-53.8M | — | ||
| Q3 24 | $-72.5M | $-13.4M | ||
| Q2 24 | $-6.4M | $-16.8M |
毛利率ALTIRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
营业利润率ALTIRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -2.1% | 4.1% | ||
| Q3 25 | -49.8% | 1.3% | ||
| Q2 25 | -56.7% | 1.9% | ||
| Q1 25 | -23.3% | -10.8% | ||
| Q4 24 | -42.7% | 13.2% | ||
| Q3 24 | -18.4% | -0.4% | ||
| Q2 24 | -30.2% | -1.0% |
净利率ALTIRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -15.1% | — | ||
| Q3 25 | -147.0% | -5.6% | ||
| Q2 25 | -45.9% | -5.0% | ||
| Q1 25 | 3.3% | -14.5% | ||
| Q4 24 | -116.1% | — | ||
| Q3 24 | -140.0% | -6.4% | ||
| Q2 24 | -12.9% | -8.7% |
每股收益（稀释后）ALTIRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | — | $0.50 | ||
| Q3 25 | — | $-0.07 | ||
| Q2 25 | $-0.33 | $-0.06 | ||
| Q1 25 | $-0.04 | $-0.15 | ||
| Q4 24 | $-0.71 | $0.05 | ||
| Q3 24 | $-0.88 | $-0.08 | ||
| Q2 24 | $-0.18 | $-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 | $41.2M | $67.6M |
| 总债务越低越好 | $883.0K | — |
| 股东权益账面价值 | $600.1M | $419.1M |
| 总资产 | $1.2B | — |
| 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ALTIRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $41.2M | $96.4M | ||
| Q3 25 | $35.8M | $74.8M | ||
| Q2 25 | $42.4M | $60.5M | ||
| Q1 25 | $52.8M | $71.2M | ||
| Q4 24 | $64.4M | $87.8M | ||
| Q3 24 | $220.6M | $37.2M | ||
| Q2 24 | $60.0M | $64.6M |
总债务ALTIRBBN
| Q1 26 | — | — | ||
| Q4 25 | $883.0K | $342.1M | ||
| Q3 25 | $586.0K | $344.3M | ||
| Q2 25 | $673.0K | $346.5M | ||
| Q1 25 | — | $347.4M | ||
| Q4 24 | $0 | $348.3M | ||
| Q3 24 | $128.4M | $349.1M | ||
| Q2 24 | $164.0M | $350.0M |
股东权益ALTIRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $600.1M | $449.0M | ||
| Q3 25 | $607.2M | $360.1M | ||
| Q2 25 | $685.4M | $370.4M | ||
| Q1 25 | $665.2M | $381.8M | ||
| Q4 24 | $658.4M | $404.6M | ||
| Q3 24 | $707.0M | $395.5M | ||
| Q2 24 | $540.2M | $405.0M |
总资产ALTIRBBN
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.3B | $1.1B |
负债/权益比ALTIRBBN
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | 0.76× | ||
| Q3 25 | 0.00× | 0.96× | ||
| Q2 25 | 0.00× | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | 0.00× | 0.86× | ||
| Q3 24 | 0.18× | 0.88× | ||
| Q2 24 | 0.30× | 0.86× |
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 | $-51.4M | — |
| 自由现金流经营现金流 - 资本支出 | $-52.2M | — |
| 自由现金流率自由现金流/营收 | -60.3% | — |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流ALTIRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-51.4M | $29.2M | ||
| Q3 25 | $-53.5M | $26.5M | ||
| Q2 25 | $-19.9M | $-795.0K | ||
| Q1 25 | $-30.2M | $-3.5M | ||
| Q4 24 | $-50.7M | $61.8M | ||
| Q3 24 | $-4.9M | $-14.8M | ||
| Q2 24 | $-30.2M | $-9.8M |
自由现金流ALTIRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-52.2M | $27.3M | ||
| Q3 25 | — | $21.0M | ||
| Q2 25 | $-20.0M | $-6.5M | ||
| Q1 25 | $-31.0M | $-15.7M | ||
| Q4 24 | $-58.2M | $53.8M | ||
| Q3 24 | $-9.4M | $-23.7M | ||
| Q2 24 | $-31.2M | $-12.9M |
自由现金流率ALTIRBBN
| Q1 26 | — | — | ||
| Q4 25 | -60.3% | 12.0% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | -37.6% | -2.9% | ||
| Q1 25 | -53.4% | -8.7% | ||
| Q4 24 | -125.7% | 21.4% | ||
| Q3 24 | -18.2% | -11.3% | ||
| Q2 24 | -63.2% | -6.7% |
资本支出强度ALTIRBBN
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | 0.9% | ||
| Q3 25 | 0.0% | 2.6% | ||
| Q2 25 | 0.0% | 2.6% | ||
| Q1 25 | 1.3% | 6.7% | ||
| Q4 24 | 16.3% | 3.2% | ||
| Q3 24 | 8.7% | 4.2% | ||
| Q2 24 | 2.2% | 1.6% |
现金转化率ALTIRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -15.80× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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
ALTI
| Management Advisory Fees | $51.1M | 59% |
| Other | $32.7M | 38% |
| Distributions From Investments | $2.9M | 3% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
