vs
CrossAmerica Partners LP（CAPL）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
CrossAmerica Partners LP的季度营收约是朗美通的1.3倍（$866.3M vs $665.5M），朗美通净利率更高（11.8% vs 1.2%，领先10.6%），朗美通同比增速更快（65.5% vs -8.3%），朗美通自由现金流更多（$43.1M vs $22.4M），过去两年朗美通的营收复合增速更高（34.8% vs -4.1%）
塔峰资本合伙人（TowerBrook Capital Partners）是一家总部位于伦敦和纽约的投资管理公司，2005年从索罗斯基金管理分拆独立。该机构主打私募股权及结构性机会投资，曾收购奢侈品品牌Jimmy Choo控股权，截至2025年其管理规模超250亿美元，官网公示在管投资项目共110个。
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。
CAPL vs LITE — 直观对比
营收规模更大
CAPL
是对方的1.3倍
$665.5M
营收增速更快
LITE
高出73.7%
-8.3%
净利率更高
LITE
高出10.6%
1.2%
自由现金流更多
LITE
多$20.7M
$22.4M
两年增速更快
LITE
近两年复合增速
-4.1%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $866.3M | $665.5M |
| 净利润 | $10.2M | $78.2M |
| 毛利率 | 12.4% | 36.1% |
| 营业利润率 | 3.0% | 9.7% |
| 净利率 | 1.2% | 11.8% |
| 营收同比 | -8.3% | 65.5% |
| 净利润同比 | -39.6% | 228.4% |
| 每股收益（稀释后） | $0.24 | $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CAPLLITE
| Q4 25 | $866.3M | $665.5M | ||
| Q3 25 | $971.8M | $533.8M | ||
| Q2 25 | $961.9M | $480.7M | ||
| Q1 25 | $862.5M | $425.2M | ||
| Q4 24 | $944.2M | $402.2M | ||
| Q3 24 | $1.1B | $336.9M | ||
| Q2 24 | $1.1B | $308.3M | ||
| Q1 24 | $941.5M | $366.5M |
净利润CAPLLITE
| Q4 25 | $10.2M | $78.2M | ||
| Q3 25 | $13.6M | $4.2M | ||
| Q2 25 | $25.2M | $213.3M | ||
| Q1 25 | $-7.1M | $-44.1M | ||
| Q4 24 | $16.9M | $-60.9M | ||
| Q3 24 | $10.7M | $-82.4M | ||
| Q2 24 | $12.4M | $-252.5M | ||
| Q1 24 | $-17.5M | $-127.0M |
毛利率CAPLLITE
| Q4 25 | 12.4% | 36.1% | ||
| Q3 25 | 10.8% | 34.0% | ||
| Q2 25 | 10.5% | 33.3% | ||
| Q1 25 | 10.4% | 28.8% | ||
| Q4 24 | 10.7% | 24.8% | ||
| Q3 24 | 10.3% | 23.1% | ||
| Q2 24 | 9.2% | 16.6% | ||
| Q1 24 | 8.6% | 16.2% |
营业利润率CAPLLITE
| Q4 25 | 3.0% | 9.7% | ||
| Q3 25 | 2.9% | 1.3% | ||
| Q2 25 | 4.3% | -1.7% | ||
| Q1 25 | 0.2% | -8.9% | ||
| Q4 24 | 3.0% | -12.8% | ||
| Q3 24 | 2.5% | -24.5% | ||
| Q2 24 | 2.5% | -43.3% | ||
| Q1 24 | -1.4% | -31.3% |
净利率CAPLLITE
| Q4 25 | 1.2% | 11.8% | ||
| Q3 25 | 1.4% | 0.8% | ||
| Q2 25 | 2.6% | 44.4% | ||
| Q1 25 | -0.8% | -10.4% | ||
| Q4 24 | 1.8% | -15.1% | ||
| Q3 24 | 1.0% | -24.5% | ||
| Q2 24 | 1.1% | -81.9% | ||
| Q1 24 | -1.9% | -34.7% |
每股收益（稀释后）CAPLLITE
| Q4 25 | $0.24 | $0.89 | ||
| Q3 25 | $0.34 | $0.05 | ||
| Q2 25 | $0.64 | $3.10 | ||
| Q1 25 | $-0.20 | $-0.64 | ||
| Q4 24 | $0.42 | $-0.88 | ||
| Q3 24 | $0.27 | $-1.21 | ||
| Q2 24 | $0.31 | $-3.75 | ||
| Q1 24 | $-0.48 | $-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 | $3.1M | $1.2B |
| 总债务越低越好 | $687.2M | — |
| 股东权益账面价值 | — | $846.6M |
| 总资产 | $964.7M | $4.8B |
| 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CAPLLITE
| Q4 25 | $3.1M | $1.2B | ||
| Q3 25 | $5.8M | $1.1B | ||
| Q2 25 | $9.7M | $877.1M | ||
| Q1 25 | $6.7M | $866.7M | ||
| Q4 24 | $3.4M | $896.7M | ||
| Q3 24 | $7.8M | $916.1M | ||
| Q2 24 | $5.5M | $887.0M | ||
| Q1 24 | $6.3M | $870.9M |
总债务CAPLLITE
| Q4 25 | $687.2M | — | ||
| Q3 25 | $700.8M | — | ||
| Q2 25 | $722.7M | — | ||
| Q1 25 | $774.1M | — | ||
| Q4 24 | $763.9M | — | ||
| Q3 24 | $769.2M | — | ||
| Q2 24 | $786.7M | — | ||
| Q1 24 | $795.8M | — |
股东权益CAPLLITE
| Q4 25 | — | $846.6M | ||
| Q3 25 | — | $780.8M | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $879.5M | ||
| Q4 24 | — | $872.3M | ||
| Q3 24 | — | $895.9M | ||
| Q2 24 | — | $957.3M | ||
| Q1 24 | — | $1.2B |
总资产CAPLLITE
| Q4 25 | $964.7M | $4.8B | ||
| Q3 25 | $998.9M | $4.6B | ||
| Q2 25 | $1.0B | $4.2B | ||
| Q1 25 | $1.1B | $4.0B | ||
| Q4 24 | $1.1B | $4.0B | ||
| Q3 24 | $1.1B | $4.0B | ||
| Q2 24 | $1.2B | $3.9B | ||
| Q1 24 | $1.2B | $4.2B |
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 | $29.4M | $126.7M |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $43.1M |
| 自由现金流率自由现金流/营收 | 2.6% | 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 | 2.89× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $55.8M | $-29.5M |
8季度趋势，按日历期对齐
经营现金流CAPLLITE
| Q4 25 | $29.4M | $126.7M | ||
| Q3 25 | $24.4M | $57.9M | ||
| Q2 25 | $22.6M | $64.0M | ||
| Q1 25 | $15.0M | $-1.6M | ||
| Q4 24 | $11.1M | $24.3M | ||
| Q3 24 | $41.9M | $39.6M | ||
| Q2 24 | $28.9M | $35.5M | ||
| Q1 24 | $5.8M | $-7.0M |
自由现金流CAPLLITE
| Q4 25 | $22.4M | $43.1M | ||
| Q3 25 | $17.7M | $-18.3M | ||
| Q2 25 | $10.8M | $10.1M | ||
| Q1 25 | $4.9M | $-64.4M | ||
| Q4 24 | $3.9M | $-15.9M | ||
| Q3 24 | $34.2M | $-34.5M | ||
| Q2 24 | $23.6M | $10.9M | ||
| Q1 24 | $-289.0K | $-26.6M |
自由现金流率CAPLLITE
| Q4 25 | 2.6% | 6.5% | ||
| Q3 25 | 1.8% | -3.4% | ||
| Q2 25 | 1.1% | 2.1% | ||
| Q1 25 | 0.6% | -15.1% | ||
| Q4 24 | 0.4% | -4.0% | ||
| Q3 24 | 3.2% | -10.2% | ||
| Q2 24 | 2.1% | 3.5% | ||
| Q1 24 | -0.0% | -7.3% |
资本支出强度CAPLLITE
| Q4 25 | 0.8% | 12.6% | ||
| Q3 25 | 0.7% | 14.3% | ||
| Q2 25 | 1.2% | 11.2% | ||
| Q1 25 | 1.2% | 14.8% | ||
| Q4 24 | 0.8% | 10.0% | ||
| Q3 24 | 0.7% | 22.0% | ||
| Q2 24 | 0.5% | 8.0% | ||
| Q1 24 | 0.6% | 5.3% |
现金转化率CAPLLITE
| Q4 25 | 2.89× | 1.62× | ||
| Q3 25 | 1.79× | 13.79× | ||
| Q2 25 | 0.90× | 0.30× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 3.92× | — | ||
| Q2 24 | 2.33× | — | ||
| Q1 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
CAPL
| Retail Segment | $505.3M | 58% |
| Wholesale | $360.9M | 42% |
| Other | $1.2M | 0% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
