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Alphatec Holdings, Inc.（ATEC）与Liberty Broadband Corp（LBRDA）财务数据对比。点击上方公司名可切换其他公司
Liberty Broadband Corp的季度营收约是Alphatec Holdings, Inc.的1.2倍（$261.0M vs $212.9M），Liberty Broadband Corp净利率更高（146.7% vs -10.2%，领先156.9%），Alphatec Holdings, Inc.同比增速更快（20.4% vs 6.1%），Liberty Broadband Corp自由现金流更多（$37.0M vs $7.7M），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs 4.3%）
Alphatec Holdings是一家全球医疗科技企业，专注于研发、生产及销售脊柱外科手术相关的植入物、手术器械与数字化手术平台，服务骨科及神经外科医疗从业者，核心市场覆盖北美、欧洲及亚太主要区域。
本公司是一家覆盖英、荷、美三地的跨国电信企业，注册地为百慕大，在伦敦、阿姆斯特丹、丹佛设有总部，旗下拥有多家对应司法辖区的运营主体，其中英国主体为公开上市实体，2005年由自由媒体国际业务板块与UnitedGlobalCom合并成立。
ATEC vs LBRDA — 直观对比
营收规模更大
LBRDA
是对方的1.2倍
$212.9M
营收增速更快
ATEC
高出14.3%
6.1%
净利率更高
LBRDA
高出156.9%
-10.2%
自由现金流更多
LBRDA
多$29.3M
$7.7M
两年增速更快
ATEC
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q2 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $261.0M |
| 净利润 | $-21.7M | $383.0M |
| 毛利率 | 70.2% | — |
| 营业利润率 | -4.1% | 15.7% |
| 净利率 | -10.2% | 146.7% |
| 营收同比 | 20.4% | 6.1% |
| 净利润同比 | 34.8% | 96.4% |
| 每股收益（稀释后） | $-0.15 | $2.68 |
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ATECLBRDA
| Q4 25 | $212.9M | — | ||
| Q3 25 | $196.5M | — | ||
| Q2 25 | $185.5M | $261.0M | ||
| Q1 25 | $169.2M | $266.0M | ||
| Q4 24 | $176.8M | $263.0M | ||
| Q3 24 | $150.7M | $262.0M | ||
| Q2 24 | $145.6M | $246.0M | ||
| Q1 24 | $138.5M | $245.0M |
净利润ATECLBRDA
| Q4 25 | $-21.7M | — | ||
| Q3 25 | $-28.6M | — | ||
| Q2 25 | $-41.1M | $383.0M | ||
| Q1 25 | $-51.9M | $268.0M | ||
| Q4 24 | $-33.3M | $291.0M | ||
| Q3 24 | $-39.6M | $142.0M | ||
| Q2 24 | $-40.7M | $195.0M | ||
| Q1 24 | $-48.5M | $241.0M |
毛利率ATECLBRDA
| Q4 25 | 70.2% | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | 69.6% | — | ||
| Q1 25 | 68.6% | — | ||
| Q4 24 | 68.8% | — | ||
| Q3 24 | 68.2% | — | ||
| Q2 24 | 70.5% | — | ||
| Q1 24 | 70.3% | — |
营业利润率ATECLBRDA
| Q4 25 | -4.1% | — | ||
| Q3 25 | -8.1% | — | ||
| Q2 25 | -7.1% | 15.7% | ||
| Q1 25 | -26.2% | 16.2% | ||
| Q4 24 | -13.5% | 4.9% | ||
| Q3 24 | -22.4% | 11.5% | ||
| Q2 24 | -24.3% | 8.5% | ||
| Q1 24 | -31.3% | 11.4% |
净利率ATECLBRDA
| Q4 25 | -10.2% | — | ||
| Q3 25 | -14.5% | — | ||
| Q2 25 | -22.2% | 146.7% | ||
| Q1 25 | -30.7% | 100.8% | ||
| Q4 24 | -18.9% | 110.6% | ||
| Q3 24 | -26.3% | 54.2% | ||
| Q2 24 | -27.9% | 79.3% | ||
| Q1 24 | -35.0% | 98.4% |
每股收益（稀释后）ATECLBRDA
| Q4 25 | $-0.15 | — | ||
| Q3 25 | $-0.19 | — | ||
| Q2 25 | $-0.27 | $2.68 | ||
| Q1 25 | $-0.35 | $1.87 | ||
| Q4 24 | $-0.22 | $2.04 | ||
| Q3 24 | $-0.28 | $0.99 | ||
| Q2 24 | $-0.29 | $1.36 | ||
| Q1 24 | $-0.34 | $1.69 |
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 | $160.8M | $180.0M |
| 总债务越低越好 | $565.9M | $3.1B |
| 股东权益账面价值 | $12.4M | $10.4B |
| 总资产 | $791.2M | $16.6B |
| 负债/权益比越低杠杆越低 | 45.54× | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资ATECLBRDA
| Q4 25 | $160.8M | — | ||
| Q3 25 | $155.7M | — | ||
| Q2 25 | $157.1M | $180.0M | ||
| Q1 25 | $153.2M | $226.0M | ||
| Q4 24 | $138.8M | $163.0M | ||
| Q3 24 | $81.0M | $168.0M | ||
| Q2 24 | $99.8M | $73.0M | ||
| Q1 24 | $144.1M | $108.0M |
总债务ATECLBRDA
| Q4 25 | $565.9M | — | ||
| Q3 25 | $559.7M | — | ||
| Q2 25 | $553.9M | $3.1B | ||
| Q1 25 | $548.4M | $3.8B | ||
| Q4 24 | $576.2M | $3.8B | ||
| Q3 24 | $527.7M | $3.7B | ||
| Q2 24 | $519.2M | $3.6B | ||
| Q1 24 | $514.4M | $3.6B |
股东权益ATECLBRDA
| Q4 25 | $12.4M | — | ||
| Q3 25 | $11.5M | — | ||
| Q2 25 | $23.8M | $10.4B | ||
| Q1 25 | $-85.9M | $10.1B | ||
| Q4 24 | $-14.2M | $9.8B | ||
| Q3 24 | $-1.4M | $9.5B | ||
| Q2 24 | $17.1M | $9.3B | ||
| Q1 24 | $37.6M | $9.1B |
总资产ATECLBRDA
| Q4 25 | $791.2M | — | ||
| Q3 25 | $787.2M | — | ||
| Q2 25 | $790.3M | $16.6B | ||
| Q1 25 | $785.5M | $17.0B | ||
| Q4 24 | $775.7M | $16.7B | ||
| Q3 24 | $745.9M | $16.3B | ||
| Q2 24 | $768.6M | $16.0B | ||
| Q1 24 | $774.6M | $15.7B |
负债/权益比ATECLBRDA
| Q4 25 | 45.54× | — | ||
| Q3 25 | 48.64× | — | ||
| Q2 25 | 23.30× | 0.30× | ||
| Q1 25 | — | 0.38× | ||
| Q4 24 | — | 0.38× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | 30.34× | 0.39× | ||
| Q1 24 | 13.70× | 0.40× |
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 | $20.7M | $91.0M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $37.0M |
| 自由现金流率自由现金流/营收 | 3.6% | 14.2% |
| 资本支出强度资本支出/营收 | 6.1% | 20.7% |
| 现金转化率经营现金流/净利润 | — | 0.24× |
| 过去12个月自由现金流最近4个季度 | $2.8M | $-49.0M |
8季度趋势，按日历期对齐
经营现金流ATECLBRDA
| Q4 25 | $20.7M | — | ||
| Q3 25 | $14.0M | — | ||
| Q2 25 | $15.5M | $91.0M | ||
| Q1 25 | $-5.0M | $78.0M | ||
| Q4 24 | $10.5M | $1.0M | ||
| Q3 24 | $-5.3M | $24.0M | ||
| Q2 24 | $-11.4M | $27.0M | ||
| Q1 24 | $-38.4M | $52.0M |
自由现金流ATECLBRDA
| Q4 25 | $7.7M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $5.2M | $37.0M | ||
| Q1 25 | $-15.0M | $13.0M | ||
| Q4 24 | $8.5M | $-63.0M | ||
| Q3 24 | $-21.2M | $-36.0M | ||
| Q2 24 | $-45.5M | $-35.0M | ||
| Q1 24 | $-69.8M | $-9.0M |
自由现金流率ATECLBRDA
| Q4 25 | 3.6% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 2.8% | 14.2% | ||
| Q1 25 | -8.9% | 4.9% | ||
| Q4 24 | 4.8% | -24.0% | ||
| Q3 24 | -14.1% | -13.7% | ||
| Q2 24 | -31.3% | -14.2% | ||
| Q1 24 | -50.4% | -3.7% |
资本支出强度ATECLBRDA
| Q4 25 | 6.1% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 5.6% | 20.7% | ||
| Q1 25 | 5.9% | 24.4% | ||
| Q4 24 | 1.1% | 24.3% | ||
| Q3 24 | 10.5% | 22.9% | ||
| Q2 24 | 23.4% | 25.2% | ||
| Q1 24 | 22.6% | 24.9% |
现金转化率ATECLBRDA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.22× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
