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Arista Networks（ANET）与Lumen Technologies, Inc.（LUMN）财务数据对比。点击上方公司名可切换其他公司
Lumen Technologies, Inc.的季度营收约是Arista Networks的1.1倍（$2.7B vs $2.5B），Arista Networks净利率更高（38.4% vs -0.1%，领先38.5%），Arista Networks同比增速更快（28.9% vs -11.0%），过去两年Arista Networks的营收复合增速更高（25.8% vs -5.3%）
Arista Networks是总部位于美国加利福尼亚州圣克拉拉的计算机网络企业，专注于设计销售多层网络交换机，为大型数据中心、云计算、高性能计算、高频交易等场景提供软件定义网络（SDN）解决方案，旗下拥有10G至800G系列低延迟直通以太网交换机，搭载自研基于Linux的可扩展操作系统EOS。
Lumen Technologies是总部位于美国路易斯安那州门罗市的电信企业，依托自有光纤、铜线网络、数据中心及云计算资源，为客户提供网络、安全、云、语音及各类托管通信服务，2023年3月起纳入标普600指数，此前曾为标普500指数成分股。
ANET vs LUMN — 直观对比
营收规模更大
LUMN
是对方的1.1倍
$2.5B
营收增速更快
ANET
高出39.8%
-11.0%
净利率更高
ANET
高出38.5%
-0.1%
两年增速更快
ANET
近两年复合增速
-5.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $2.7B |
| 净利润 | $955.8M | $-2.0M |
| 毛利率 | 62.9% | 40.7% |
| 营业利润率 | 41.5% | -7.3% |
| 净利率 | 38.4% | -0.1% |
| 营收同比 | 28.9% | -11.0% |
| 净利润同比 | 19.3% | -102.4% |
| 每股收益（稀释后） | $0.74 | $-0.01 |
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ANETLUMN
| Q4 25 | $2.5B | $2.7B | ||
| Q3 25 | $2.3B | $2.8B | ||
| Q2 25 | $2.2B | $2.9B | ||
| Q1 25 | $2.0B | $2.9B | ||
| Q4 24 | $1.9B | $3.1B | ||
| Q3 24 | $1.8B | $3.0B | ||
| Q2 24 | $1.7B | $3.0B | ||
| Q1 24 | $1.6B | $3.1B |
净利润ANETLUMN
| Q4 25 | $955.8M | $-2.0M | ||
| Q3 25 | $853.0M | $-621.0M | ||
| Q2 25 | $888.8M | $-915.0M | ||
| Q1 25 | $813.8M | $-201.0M | ||
| Q4 24 | $801.0M | $85.0M | ||
| Q3 24 | $747.9M | $-148.0M | ||
| Q2 24 | $665.4M | $-49.0M | ||
| Q1 24 | $637.7M | $57.0M |
毛利率ANETLUMN
| Q4 25 | 62.9% | 40.7% | ||
| Q3 25 | 64.6% | 39.4% | ||
| Q2 25 | 65.2% | 43.4% | ||
| Q1 25 | 63.7% | 42.0% | ||
| Q4 24 | 63.8% | 44.7% | ||
| Q3 24 | 64.2% | 43.0% | ||
| Q2 24 | 64.9% | 45.2% | ||
| Q1 24 | 63.7% | 46.0% |
营业利润率ANETLUMN
| Q4 25 | 41.5% | -7.3% | ||
| Q3 25 | 42.4% | -4.1% | ||
| Q2 25 | 44.7% | -21.0% | ||
| Q1 25 | 42.8% | 3.7% | ||
| Q4 24 | 41.4% | 5.0% | ||
| Q3 24 | 43.4% | 4.2% | ||
| Q2 24 | 41.4% | 4.5% | ||
| Q1 24 | 42.0% | 1.5% |
净利率ANETLUMN
| Q4 25 | 38.4% | -0.1% | ||
| Q3 25 | 37.0% | -22.1% | ||
| Q2 25 | 40.3% | -31.9% | ||
| Q1 25 | 40.6% | -6.9% | ||
| Q4 24 | 41.5% | 2.8% | ||
| Q3 24 | 41.3% | -5.0% | ||
| Q2 24 | 39.4% | -1.6% | ||
| Q1 24 | 40.6% | 1.9% |
每股收益（稀释后）ANETLUMN
| Q4 25 | $0.74 | $-0.01 | ||
| Q3 25 | $0.67 | $-0.62 | ||
| Q2 25 | $0.70 | $-0.92 | ||
| Q1 25 | $0.64 | $-0.20 | ||
| Q4 24 | $-4.17 | $0.08 | ||
| Q3 24 | $2.33 | $-0.15 | ||
| Q2 24 | $2.08 | $-0.05 | ||
| Q1 24 | $1.99 | $0.06 |
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 | $2.0B | $1.0B |
| 总债务越低越好 | — | $17.4B |
| 股东权益账面价值 | $12.4B | $-1.1B |
| 总资产 | $19.4B | $34.3B |
| 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ANETLUMN
| Q4 25 | $2.0B | $1.0B | ||
| Q3 25 | $2.3B | $2.4B | ||
| Q2 25 | $2.2B | $1.6B | ||
| Q1 25 | $1.8B | $1.9B | ||
| Q4 24 | $2.8B | $1.9B | ||
| Q3 24 | $3.2B | $2.6B | ||
| Q2 24 | $2.4B | $1.5B | ||
| Q1 24 | $2.1B | $1.6B |
总债务ANETLUMN
| Q4 25 | — | $17.4B | ||
| Q3 25 | — | $17.6B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $17.3B | ||
| Q4 24 | — | $17.5B | ||
| Q3 24 | — | $18.1B | ||
| Q2 24 | — | $18.4B | ||
| Q1 24 | — | $18.6B |
股东权益ANETLUMN
| Q4 25 | $12.4B | $-1.1B | ||
| Q3 25 | $11.9B | $-1.2B | ||
| Q2 25 | $10.9B | $-595.0M | ||
| Q1 25 | $10.1B | $289.0M | ||
| Q4 24 | $10.0B | $464.0M | ||
| Q3 24 | $9.2B | $342.0M | ||
| Q2 24 | $8.4B | $466.0M | ||
| Q1 24 | $7.9B | $504.0M |
总资产ANETLUMN
| Q4 25 | $19.4B | $34.3B | ||
| Q3 25 | $18.0B | $34.3B | ||
| Q2 25 | $16.5B | $33.0B | ||
| Q1 25 | $14.5B | $33.5B | ||
| Q4 24 | $14.0B | $33.5B | ||
| Q3 24 | $12.8B | $34.0B | ||
| Q2 24 | $11.6B | $32.9B | ||
| Q1 24 | $10.6B | $33.2B |
负债/权益比ANETLUMN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 59.98× | ||
| Q4 24 | — | 37.70× | ||
| Q3 24 | — | 53.05× | ||
| Q2 24 | — | 39.51× | ||
| Q1 24 | — | 36.89× |
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 | $1.3B | $562.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-1.1B |
| 自由现金流率自由现金流/营收 | — | -39.4% |
| 资本支出强度资本支出/营收 | — | 59.9% |
| 现金转化率经营现金流/净利润 | 1.32× | — |
| 过去12个月自由现金流最近4个季度 | — | $371.0M |
8季度趋势，按日历期对齐
经营现金流ANETLUMN
| Q4 25 | $1.3B | $562.0M | ||
| Q3 25 | $1.3B | $2.5B | ||
| Q2 25 | $1.2B | $570.0M | ||
| Q1 25 | $641.7M | $1.1B | ||
| Q4 24 | $1.0B | $688.0M | ||
| Q3 24 | $1.2B | $2.0B | ||
| Q2 24 | $989.0M | $511.0M | ||
| Q1 24 | $513.8M | $1.1B |
自由现金流ANETLUMN
| Q4 25 | — | $-1.1B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.2B | $-321.0M | ||
| Q1 25 | $613.3M | $304.0M | ||
| Q4 24 | — | $-227.0M | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $985.9M | $-242.0M | ||
| Q1 24 | $504.4M | $389.0M |
自由现金流率ANETLUMN
| Q4 25 | — | -39.4% | ||
| Q3 25 | 53.6% | 52.4% | ||
| Q2 25 | 53.3% | -11.2% | ||
| Q1 25 | 30.6% | 10.4% | ||
| Q4 24 | — | -7.4% | ||
| Q3 24 | 64.5% | 39.8% | ||
| Q2 24 | 58.3% | -8.0% | ||
| Q1 24 | 32.1% | 12.7% |
资本支出强度ANETLUMN
| Q4 25 | — | 59.9% | ||
| Q3 25 | 1.3% | 37.1% | ||
| Q2 25 | 1.1% | 31.1% | ||
| Q1 25 | 1.4% | 27.2% | ||
| Q4 24 | — | 29.7% | ||
| Q3 24 | 0.4% | 28.6% | ||
| Q2 24 | 0.2% | 25.0% | ||
| Q1 24 | 0.6% | 23.3% |
现金转化率ANETLUMN
| Q4 25 | 1.32× | — | ||
| Q3 25 | 1.49× | — | ||
| Q2 25 | 1.35× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 1.29× | 8.09× | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 0.81× | 19.33× |
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
ANET
| Products | $2.1B | 84% |
| Services | $392.1M | 16% |
LUMN
| Large Enterprise | $758.0M | 28% |
| Wholesale | $661.0M | 24% |
| Mid Market Enterprise | $472.0M | 17% |
| Fiber Broadband | $232.0M | 8% |
| Other Broadband | $218.0M | 8% |
| Other | $184.0M | 7% |
| Voice And Other | $166.0M | 6% |
| International And Other | $77.0M | 3% |
