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CALIX, INC（CALX）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
EchoStar CORP的季度营收约是CALIX, INC的13.6倍（$3.8B vs $280.0M）。CALIX, INC净利率更高（4.0% vs -31.8%，领先35.8%）。CALIX, INC同比增速更快（27.1% vs -4.3%）。CALIX, INC自由现金流更多（$6.5M vs $-583.4M）。过去两年CALIX, INC的营收复合增速更高（18.9% vs -2.8%）
Calix是1999年成立、总部位于美国加利福尼亚州圣何塞的电信企业，专注于提供软件平台、系统及相关服务，为宽带业务的部署落地提供技术支撑，助力运营商为用户提供稳定高效的网络接入服务。
EchoStar Corp曾于2004年至2011年与TiVo公司发生专利纠纷，TiVo主张前者侵犯其DVR技术相关专利。该案先后由美国得克萨斯州东区联邦地区法院、联邦巡回上诉法院审理，涉及专利侵权判定、禁令条款、侵权产品改造、藐视法庭裁定及处罚等多个争议点。
CALX vs SATS — 直观对比
营收规模更大
SATS
是对方的13.6倍
$280.0M
营收增速更快
CALX
高出31.4%
-4.3%
净利率更高
CALX
高出35.8%
-31.8%
自由现金流更多
CALX
多$589.9M
$-583.4M
两年增速更快
CALX
近两年复合增速
-2.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $280.0M | $3.8B |
| 净利润 | $11.2M | $-1.2B |
| 毛利率 | 56.9% | — |
| 营业利润率 | — | -20.5% |
| 净利率 | 4.0% | -31.8% |
| 营收同比 | 27.1% | -4.3% |
| 净利润同比 | 334.2% | -460.1% |
| 每股收益（稀释后） | $0.16 | $-4.27 |
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CALXSATS
| Q1 26 | $280.0M | — | ||
| Q4 25 | $272.4M | $3.8B | ||
| Q3 25 | $265.4M | $3.6B | ||
| Q2 25 | $241.9M | $3.7B | ||
| Q1 25 | $220.2M | $3.9B | ||
| Q4 24 | $206.1M | $4.0B | ||
| Q3 24 | $200.9M | $3.9B | ||
| Q2 24 | $198.1M | $4.0B |
净利润CALXSATS
| Q1 26 | $11.2M | — | ||
| Q4 25 | $7.2M | $-1.2B | ||
| Q3 25 | $15.7M | $-12.8B | ||
| Q2 25 | $-199.0K | $-306.1M | ||
| Q1 25 | $-4.8M | $-202.7M | ||
| Q4 24 | $-17.9M | $335.2M | ||
| Q3 24 | $-4.0M | $-141.8M | ||
| Q2 24 | $-8.0M | $-205.6M |
毛利率CALXSATS
| Q1 26 | 56.9% | — | ||
| Q4 25 | 57.7% | — | ||
| Q3 25 | 57.3% | — | ||
| Q2 25 | 56.3% | — | ||
| Q1 25 | 55.7% | — | ||
| Q4 24 | 55.0% | — | ||
| Q3 24 | 54.8% | — | ||
| Q2 24 | 54.3% | — |
营业利润率CALXSATS
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | -20.5% | ||
| Q3 25 | 6.6% | -460.5% | ||
| Q2 25 | 0.2% | -5.7% | ||
| Q1 25 | -2.8% | -2.3% | ||
| Q4 24 | -9.1% | -1.6% | ||
| Q3 24 | -5.4% | -4.1% | ||
| Q2 24 | -5.7% | -1.7% |
净利率CALXSATS
| Q1 26 | 4.0% | — | ||
| Q4 25 | 2.6% | -31.8% | ||
| Q3 25 | 5.9% | -353.6% | ||
| Q2 25 | -0.1% | -8.2% | ||
| Q1 25 | -2.2% | -5.2% | ||
| Q4 24 | -8.7% | 8.5% | ||
| Q3 24 | -2.0% | -3.6% | ||
| Q2 24 | -4.0% | -5.2% |
每股收益（稀释后）CALXSATS
| Q1 26 | $0.16 | — | ||
| Q4 25 | $0.11 | $-4.27 | ||
| Q3 25 | $0.22 | $-44.37 | ||
| Q2 25 | $0.00 | $-1.06 | ||
| Q1 25 | $-0.07 | $-0.71 | ||
| Q4 24 | $-0.27 | $1.24 | ||
| Q3 24 | $-0.06 | $-0.52 | ||
| Q2 24 | $-0.12 | $-0.76 |
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 | $54.6M | $3.0B |
| 总债务越低越好 | — | $18.7B |
| 股东权益账面价值 | $738.0M | $5.8B |
| 总资产 | — | $43.0B |
| 负债/权益比越低杠杆越低 | — | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资CALXSATS
| Q1 26 | $54.6M | — | ||
| Q4 25 | $143.1M | $3.0B | ||
| Q3 25 | $95.0M | $3.9B | ||
| Q2 25 | $76.5M | $4.3B | ||
| Q1 25 | $42.3M | $5.1B | ||
| Q4 24 | $43.2M | $5.5B | ||
| Q3 24 | $62.4M | $674.4M | ||
| Q2 24 | $84.5M | $520.6M |
总债务CALXSATS
| Q1 26 | — | — | ||
| Q4 25 | — | $18.7B | ||
| Q3 25 | — | $21.8B | ||
| Q2 25 | — | $25.4B | ||
| Q1 25 | — | $25.3B | ||
| Q4 24 | — | $25.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CALXSATS
| Q1 26 | $738.0M | — | ||
| Q4 25 | $859.2M | $5.8B | ||
| Q3 25 | $822.5M | $7.0B | ||
| Q2 25 | $772.7M | $19.7B | ||
| Q1 25 | $767.2M | $20.0B | ||
| Q4 24 | $780.9M | $20.2B | ||
| Q3 24 | $778.7M | $19.4B | ||
| Q2 24 | $754.2M | $19.6B |
总资产CALXSATS
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $43.0B | ||
| Q3 25 | $976.4M | $45.3B | ||
| Q2 25 | $921.4M | $59.9B | ||
| Q1 25 | $917.1M | $60.6B | ||
| Q4 24 | $939.3M | $60.9B | ||
| Q3 24 | $937.5M | $57.5B | ||
| Q2 24 | $917.9M | $55.3B |
负债/权益比CALXSATS
| Q1 26 | — | — | ||
| Q4 25 | — | 3.24× | ||
| Q3 25 | — | 3.13× | ||
| Q2 25 | — | 1.29× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $14.6M | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $6.5M | $-583.4M |
| 自由现金流率自由现金流/营收 | 2.3% | -15.4% |
| 资本支出强度资本支出/营收 | — | 4.2% |
| 现金转化率经营现金流/净利润 | 1.31× | — |
| 过去12个月自由现金流最近4个季度 | $109.1M | $-1.1B |
8季度趋势，按日历期对齐
经营现金流CALXSATS
| Q1 26 | $14.6M | — | ||
| Q4 25 | $46.0M | $-425.3M | ||
| Q3 25 | $32.3M | $111.7M | ||
| Q2 25 | $39.4M | $7.5M | ||
| Q1 25 | $17.2M | $206.8M | ||
| Q4 24 | $15.4M | $45.6M | ||
| Q3 24 | $16.0M | $276.2M | ||
| Q2 24 | $22.3M | $479.7M |
自由现金流CALXSATS
| Q1 26 | $6.5M | — | ||
| Q4 25 | $40.3M | $-583.4M | ||
| Q3 25 | $26.7M | $-144.4M | ||
| Q2 25 | $35.6M | $-285.7M | ||
| Q1 25 | $12.9M | $-51.7M | ||
| Q4 24 | $10.2M | $-298.7M | ||
| Q3 24 | $12.8M | $-57.5M | ||
| Q2 24 | $16.4M | $132.4M |
自由现金流率CALXSATS
| Q1 26 | 2.3% | — | ||
| Q4 25 | 14.8% | -15.4% | ||
| Q3 25 | 10.1% | -4.0% | ||
| Q2 25 | 14.7% | -7.7% | ||
| Q1 25 | 5.9% | -1.3% | ||
| Q4 24 | 5.0% | -7.5% | ||
| Q3 24 | 6.3% | -1.5% | ||
| Q2 24 | 8.3% | 3.3% |
资本支出强度CALXSATS
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 4.2% | ||
| Q3 25 | 2.1% | 7.1% | ||
| Q2 25 | 1.5% | 7.9% | ||
| Q1 25 | 2.0% | 6.7% | ||
| Q4 24 | 2.5% | 8.7% | ||
| Q3 24 | 1.6% | 8.6% | ||
| Q2 24 | 3.0% | 8.8% |
现金转化率CALXSATS
| Q1 26 | 1.31× | — | ||
| Q4 25 | 6.38× | — | ||
| Q3 25 | 2.06× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.14× | ||
| 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
CALX
| Appliance | $232.8M | 83% |
| Software and service | $47.1M | 17% |
SATS
| Pay Tv | $2.4B | 62% |
| Wireless Services And Related Revenue | $846.5M | 22% |
| Equipment Sales And Other Revenue | $346.5M | 9% |
| Broadband And Satellite Services And Other Revenue | $264.1M | 7% |
