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BGC Group, Inc.（BGC）与朗美通（LITE）财务数据对比。点击上方公司名可切换其他公司
朗美通的季度营收约是BGC Group, Inc.的1.0倍（$665.5M vs $638.6M），朗美通净利率更高（11.8% vs 2.3%，领先9.5%），朗美通同比增速更快（65.5% vs 34.4%），BGC Group, Inc.自由现金流更多（$175.1M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs 18.7%）
BGC集团是一家总部位于纽约和伦敦的美国全球性金融服务企业，最初隶属于康托·菲茨杰拉德集团，2004年正式独立运营，业务范围覆盖全球金融市场相关服务领域。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
BGC vs LITE — 直观对比
营收规模更大
LITE
是对方的1.0倍
$638.6M
营收增速更快
LITE
高出31.1%
34.4%
净利率更高
LITE
高出9.5%
2.3%
自由现金流更多
BGC
多$132.0M
$43.1M
两年增速更快
LITE
近两年复合增速
18.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $665.5M |
| 净利润 | $14.4M | $78.2M |
| 毛利率 | — | 36.1% |
| 营业利润率 | 3.9% | 9.7% |
| 净利率 | 2.3% | 11.8% |
| 营收同比 | 34.4% | 65.5% |
| 净利润同比 | -43.0% | 228.4% |
| 每股收益（稀释后） | $0.03 | $0.89 |
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BGCLITE
| Q4 25 | $638.6M | $665.5M | ||
| Q3 25 | $620.8M | $533.8M | ||
| Q2 25 | $648.0M | $480.7M | ||
| Q1 25 | $534.6M | $425.2M | ||
| Q4 24 | $475.2M | $402.2M | ||
| Q3 24 | $448.9M | $336.9M | ||
| Q2 24 | $435.0M | $308.3M | ||
| Q1 24 | $453.6M | $366.5M |
净利润BGCLITE
| Q4 25 | $14.4M | $78.2M | ||
| Q3 25 | $27.9M | $4.2M | ||
| Q2 25 | $57.5M | $213.3M | ||
| Q1 25 | $55.2M | $-44.1M | ||
| Q4 24 | $25.2M | $-60.9M | ||
| Q3 24 | $14.7M | $-82.4M | ||
| Q2 24 | $37.8M | $-252.5M | ||
| Q1 24 | $49.2M | $-127.0M |
毛利率BGCLITE
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 33.3% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 24.8% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | — | 16.6% | ||
| Q1 24 | — | 16.2% |
营业利润率BGCLITE
| Q4 25 | 3.9% | 9.7% | ||
| Q3 25 | 5.4% | 1.3% | ||
| Q2 25 | 11.6% | -1.7% | ||
| Q1 25 | 15.0% | -8.9% | ||
| Q4 24 | 5.7% | -12.8% | ||
| Q3 24 | 4.4% | -24.5% | ||
| Q2 24 | 12.7% | -43.3% | ||
| Q1 24 | 15.7% | -31.3% |
净利率BGCLITE
| Q4 25 | 2.3% | 11.8% | ||
| Q3 25 | 4.5% | 0.8% | ||
| Q2 25 | 8.9% | 44.4% | ||
| Q1 25 | 10.3% | -10.4% | ||
| Q4 24 | 5.3% | -15.1% | ||
| Q3 24 | 3.3% | -24.5% | ||
| Q2 24 | 8.7% | -81.9% | ||
| Q1 24 | 10.8% | -34.7% |
每股收益（稀释后）BGCLITE
| Q4 25 | $0.03 | $0.89 | ||
| Q3 25 | $0.06 | $0.05 | ||
| Q2 25 | $0.11 | $3.10 | ||
| Q1 25 | $0.11 | $-0.64 | ||
| Q4 24 | $0.04 | $-0.88 | ||
| Q3 24 | $0.03 | $-1.21 | ||
| Q2 24 | $0.08 | $-3.75 | ||
| Q1 24 | $0.10 | $-1.88 |
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 | $851.5M | $1.2B |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $972.5M | $846.6M |
| 总资产 | $4.4B | $4.8B |
| 负债/权益比越低杠杆越低 | 1.58× | — |
8季度趋势，按日历期对齐
现金及短期投资BGCLITE
| Q4 25 | $851.5M | $1.2B | ||
| Q3 25 | $774.9M | $1.1B | ||
| Q2 25 | $827.8M | $877.1M | ||
| Q1 25 | $966.4M | $866.7M | ||
| Q4 24 | $711.6M | $896.7M | ||
| Q3 24 | $563.5M | $916.1M | ||
| Q2 24 | $571.7M | $887.0M | ||
| Q1 24 | $566.8M | $870.9M |
总债务BGCLITE
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $945.0M | — |
股东权益BGCLITE
| Q4 25 | $972.5M | $846.6M | ||
| Q3 25 | $965.3M | $780.8M | ||
| Q2 25 | $930.5M | $1.1B | ||
| Q1 25 | $963.8M | $879.5M | ||
| Q4 24 | $898.5M | $872.3M | ||
| Q3 24 | $860.1M | $895.9M | ||
| Q2 24 | $858.1M | $957.3M | ||
| Q1 24 | $912.1M | $1.2B |
总资产BGCLITE
| Q4 25 | $4.4B | $4.8B | ||
| Q3 25 | $5.8B | $4.6B | ||
| Q2 25 | $4.9B | $4.2B | ||
| Q1 25 | $4.9B | $4.0B | ||
| Q4 24 | $3.6B | $4.0B | ||
| Q3 24 | $4.4B | $4.0B | ||
| Q2 24 | $4.3B | $3.9B | ||
| Q1 24 | $4.4B | $4.2B |
负债/权益比BGCLITE
| Q4 25 | 1.58× | — | ||
| Q3 25 | 1.90× | — | ||
| Q2 25 | 1.97× | — | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | 1.68× | — | ||
| Q1 24 | 1.04× | — |
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 | $180.4M | $126.7M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $43.1M |
| 自由现金流率自由现金流/营收 | 27.4% | 6.5% |
| 资本支出强度资本支出/营收 | 0.8% | 12.6% |
| 现金转化率经营现金流/净利润 | 12.55× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $372.9M | $-29.5M |
8季度趋势，按日历期对齐
经营现金流BGCLITE
| Q4 25 | $180.4M | $126.7M | ||
| Q3 25 | $141.9M | $57.9M | ||
| Q2 25 | $71.2M | $64.0M | ||
| Q1 25 | $839.0K | $-1.6M | ||
| Q4 24 | $251.9M | $24.3M | ||
| Q3 24 | $88.3M | $39.6M | ||
| Q2 24 | $-53.0M | $35.5M | ||
| Q1 24 | $28.1M | $-7.0M |
自由现金流BGCLITE
| Q4 25 | $175.1M | $43.1M | ||
| Q3 25 | $137.2M | $-18.3M | ||
| Q2 25 | $65.0M | $10.1M | ||
| Q1 25 | $-4.4M | $-64.4M | ||
| Q4 24 | $245.6M | $-15.9M | ||
| Q3 24 | $78.8M | $-34.5M | ||
| Q2 24 | $-63.5M | $10.9M | ||
| Q1 24 | $24.9M | $-26.6M |
自由现金流率BGCLITE
| Q4 25 | 27.4% | 6.5% | ||
| Q3 25 | 22.1% | -3.4% | ||
| Q2 25 | 10.0% | 2.1% | ||
| Q1 25 | -0.8% | -15.1% | ||
| Q4 24 | 51.7% | -4.0% | ||
| Q3 24 | 17.5% | -10.2% | ||
| Q2 24 | -14.6% | 3.5% | ||
| Q1 24 | 5.5% | -7.3% |
资本支出强度BGCLITE
| Q4 25 | 0.8% | 12.6% | ||
| Q3 25 | 0.8% | 14.3% | ||
| Q2 25 | 1.0% | 11.2% | ||
| Q1 25 | 1.0% | 14.8% | ||
| Q4 24 | 1.3% | 10.0% | ||
| Q3 24 | 2.1% | 22.0% | ||
| Q2 24 | 2.4% | 8.0% | ||
| Q1 24 | 0.7% | 5.3% |
现金转化率BGCLITE
| Q4 25 | 12.55× | 1.62× | ||
| Q3 25 | 5.09× | 13.79× | ||
| Q2 25 | 1.24× | 0.30× | ||
| Q1 25 | 0.02× | — | ||
| Q4 24 | 9.99× | — | ||
| Q3 24 | 5.99× | — | ||
| Q2 24 | -1.40× | — | ||
| Q1 24 | 0.57× | — |
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
BGC
| Commissions | $590.2M | 92% |
| Data Software And Post Trade | $36.7M | 6% |
| Fees From Related Parties | $4.6M | 1% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
