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天弘科技（CLS）与TTM TECHNOLOGIES INC（TTMI）财务数据对比。点击上方公司名可切换其他公司
天弘科技的季度营收约是TTM TECHNOLOGIES INC的4.7倍（$3.7B vs $774.3M）。天弘科技净利率更高（7.3% vs 6.5%，领先0.8%）。天弘科技自由现金流更多（$155.9M vs $-6.5M）
天弘科技（Celestica Inc.）是总部位于加拿大安大略省多伦多的跨国电子制造服务（EMS）企业，业务涵盖设计、生产制造、硬件平台搭建及供应链服务，目前在全球15个国家设有50个运营站点，为各行业客户提供专业的电子产业链相关解决方案。
TTM科技是总部位于美国加利福尼亚州圣安娜的印刷电路板（PCB）生产商，成立于1998年，位列全球PCB制造商前五，是北美最大的PCB生产企业，同时也是美国军方最大的PCB供应商，服务航空航天、国防、医疗、工业、汽车、计算、网络等多个领域的客户。
CLS vs TTMI — 直观对比
营收规模更大
CLS
是对方的4.7倍
$774.3M
净利率更高
CLS
高出0.8%
6.5%
自由现金流更多
CLS
多$162.4M
$-6.5M
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.7B | $774.3M |
| 净利润 | $267.5M | $50.7M |
| 毛利率 | 11.8% | 21.4% |
| 营业利润率 | 8.6% | 10.4% |
| 净利率 | 7.3% | 6.5% |
| 营收同比 | — | 18.9% |
| 净利润同比 | — | 880.4% |
| 每股收益（稀释后） | $2.29 | $0.47 |
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CLSTTMI
| Q4 25 | $3.7B | $774.3M | ||
| Q3 25 | $3.2B | $752.7M | ||
| Q2 25 | $2.9B | $730.6M | ||
| Q1 25 | $2.6B | $648.7M | ||
| Q4 24 | — | $651.0M | ||
| Q3 24 | $2.5B | $616.5M | ||
| Q2 24 | $2.4B | $570.1M | ||
| Q1 24 | $2.2B | $569.0M |
净利润CLSTTMI
| Q4 25 | $267.5M | $50.7M | ||
| Q3 25 | $267.8M | $53.1M | ||
| Q2 25 | $211.0M | $41.5M | ||
| Q1 25 | $86.2M | $32.2M | ||
| Q4 24 | — | $5.2M | ||
| Q3 24 | $89.5M | $14.3M | ||
| Q2 24 | $95.0M | $10.5M | ||
| Q1 24 | $91.8M | $17.3M |
毛利率CLSTTMI
| Q4 25 | 11.8% | 21.4% | ||
| Q3 25 | 13.0% | 20.8% | ||
| Q2 25 | 12.8% | 20.3% | ||
| Q1 25 | 10.3% | 20.2% | ||
| Q4 24 | — | 19.4% | ||
| Q3 24 | 10.4% | 21.1% | ||
| Q2 24 | 10.6% | 18.2% | ||
| Q1 24 | 10.1% | 20.3% |
营业利润率CLSTTMI
| Q4 25 | 8.6% | 10.4% | ||
| Q3 25 | 10.2% | 9.6% | ||
| Q2 25 | 9.4% | 8.5% | ||
| Q1 25 | 4.9% | 7.7% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 5.5% | 8.3% | ||
| Q2 24 | 5.6% | 3.0% | ||
| Q1 24 | 5.7% | 6.1% |
净利率CLSTTMI
| Q4 25 | 7.3% | 6.5% | ||
| Q3 25 | 8.4% | 7.0% | ||
| Q2 25 | 7.3% | 5.7% | ||
| Q1 25 | 3.3% | 5.0% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | 3.6% | 2.3% | ||
| Q2 24 | 4.0% | 1.8% | ||
| Q1 24 | 4.2% | 3.0% |
每股收益（稀释后）CLSTTMI
| Q4 25 | $2.29 | $0.47 | ||
| Q3 25 | $2.31 | $0.50 | ||
| Q2 25 | $1.82 | $0.40 | ||
| Q1 25 | $0.74 | $0.31 | ||
| Q4 24 | — | $0.05 | ||
| Q3 24 | $0.75 | $0.14 | ||
| Q2 24 | $0.80 | $0.10 | ||
| Q1 24 | $0.77 | $0.17 |
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 | $595.6M | $501.2M |
| 总债务越低越好 | $750.5M | $916.2M |
| 股东权益账面价值 | $2.2B | $1.8B |
| 总资产 | $7.2B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.34× | 0.52× |
8季度趋势，按日历期对齐
现金及短期投资CLSTTMI
| Q4 25 | $595.6M | $501.2M | ||
| Q3 25 | $305.9M | $491.1M | ||
| Q2 25 | $313.8M | $448.0M | ||
| Q1 25 | $303.0M | $411.3M | ||
| Q4 24 | — | $503.9M | ||
| Q3 24 | — | $469.5M | ||
| Q2 24 | — | $440.4M | ||
| Q1 24 | — | $450.2M |
总债务CLSTTMI
| Q4 25 | $750.5M | $916.2M | ||
| Q3 25 | $756.7M | $916.6M | ||
| Q2 25 | $848.6M | $917.1M | ||
| Q1 25 | $915.0M | $917.6M | ||
| Q4 24 | — | $914.4M | ||
| Q3 24 | — | $912.8M | ||
| Q2 24 | — | $913.9M | ||
| Q1 24 | — | $914.3M |
股东权益CLSTTMI
| Q4 25 | $2.2B | $1.8B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $1.8B | $1.6B | ||
| Q1 25 | $1.6B | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $1.8B | $1.5B | ||
| Q2 24 | $1.8B | $1.5B | ||
| Q1 24 | $1.7B | $1.5B |
总资产CLSTTMI
| Q4 25 | $7.2B | $3.8B | ||
| Q3 25 | $6.6B | $3.7B | ||
| Q2 25 | $6.2B | $3.6B | ||
| Q1 25 | $5.8B | $3.5B | ||
| Q4 24 | — | $3.5B | ||
| Q3 24 | — | $3.4B | ||
| Q2 24 | — | $3.3B | ||
| Q1 24 | — | $3.3B |
负债/权益比CLSTTMI
| Q4 25 | 0.34× | 0.52× | ||
| Q3 25 | 0.37× | 0.54× | ||
| Q2 25 | 0.48× | 0.56× | ||
| Q1 25 | 0.59× | 0.58× | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | 0.59× | ||
| Q2 24 | — | 0.60× | ||
| Q1 24 | — | 0.61× |
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 | $250.6M | $62.9M |
| 自由现金流经营现金流 - 资本支出 | $155.9M | $-6.5M |
| 自由现金流率自由现金流/营收 | 4.3% | -0.8% |
| 资本支出强度资本支出/营收 | 2.6% | 9.0% |
| 现金转化率经营现金流/净利润 | 0.94× | 1.24× |
| 过去12个月自由现金流最近4个季度 | $458.3M | $-683.0K |
8季度趋势，按日历期对齐
经营现金流CLSTTMI
| Q4 25 | $250.6M | $62.9M | ||
| Q3 25 | $126.2M | $141.8M | ||
| Q2 25 | $152.4M | $97.8M | ||
| Q1 25 | $130.3M | $-10.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | $122.8M | $65.1M | ||
| Q2 24 | $99.6M | $43.9M | ||
| Q1 24 | $108.1M | $47.5M |
自由现金流CLSTTMI
| Q4 25 | $155.9M | $-6.5M | ||
| Q3 25 | $88.9M | $42.4M | ||
| Q2 25 | $119.9M | $37.4M | ||
| Q1 25 | $93.6M | $-74.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $76.8M | $24.2M | ||
| Q2 24 | $62.7M | $-5.4M | ||
| Q1 24 | $67.7M | $1.4M |
自由现金流率CLSTTMI
| Q4 25 | 4.3% | -0.8% | ||
| Q3 25 | 2.8% | 5.6% | ||
| Q2 25 | 4.1% | 5.1% | ||
| Q1 25 | 3.5% | -11.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.1% | 3.9% | ||
| Q2 24 | 2.6% | -1.0% | ||
| Q1 24 | 3.1% | 0.2% |
资本支出强度CLSTTMI
| Q4 25 | 2.6% | 9.0% | ||
| Q3 25 | 1.2% | 13.2% | ||
| Q2 25 | 1.1% | 8.3% | ||
| Q1 25 | 1.4% | 9.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.8% | 6.6% | ||
| Q2 24 | 1.5% | 8.7% | ||
| Q1 24 | 1.8% | 8.1% |
现金转化率CLSTTMI
| Q4 25 | 0.94× | 1.24× | ||
| Q3 25 | 0.47× | 2.67× | ||
| Q2 25 | 0.72× | 2.36× | ||
| Q1 25 | 1.51× | -0.33× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.37× | 4.55× | ||
| Q2 24 | 1.05× | 4.19× | ||
| Q1 24 | 1.18× | 2.74× |
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
CLS
| CCS Communications | $2.1B | 58% |
| ATS Segment | $795.1M | 22% |
| CCS Enterprise | $745.2M | 20% |
TTMI
| Aerospace And Defense | $317.2M | 41% |
| Data Center Computing | $221.6M | 29% |
| Medical Industrial Instrumentation | $105.0M | 14% |
| Automotive Components | $69.7M | 9% |
| Networking Communication | $50.1M | 6% |
| Radio Frequency And Specialty Components | $10.6M | 1% |
