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Cambium Networks Corp（CMBM）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是Cambium Networks Corp的20.2倍（$814.9M vs $40.3M）。Ubiquiti Inc.净利率更高（28.7% vs -17.9%，领先46.6%）。Ubiquiti Inc.同比增速更快（35.8% vs -23.2%）。Ubiquiti Inc.自由现金流更多（$260.3M vs $-10.8M）。过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs -27.2%）
坎布里姆网络公司是美国的无线通信设备制造商，主营企业WiFi、网络交换设备、物联网相关产品，以及面向企业的固定无线宽带、WiFi接入产品。该公司于2011年10月从摩托罗拉分拆，目前在纳斯达克上市。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
CMBM vs UI — 直观对比
营收规模更大
UI
是对方的20.2倍
$40.3M
营收增速更快
UI
高出59.0%
-23.2%
净利率更高
UI
高出46.6%
-17.9%
自由现金流更多
UI
多$271.1M
$-10.8M
两年增速更快
UI
近两年复合增速
-27.2%
损益表 — Q4 2024 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $40.3M | $814.9M |
| 净利润 | $-7.2M | $233.6M |
| 毛利率 | 36.6% | 45.9% |
| 营业利润率 | -28.4% | 35.9% |
| 净利率 | -17.9% | 28.7% |
| 营收同比 | -23.2% | 35.8% |
| 净利润同比 | 71.0% | 70.8% |
| 每股收益（稀释后） | $-0.26 | $3.86 |
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CMBMUI
| Q4 25 | — | $814.9M | ||
| Q3 25 | — | $733.8M | ||
| Q2 25 | — | $759.2M | ||
| Q1 25 | — | $664.2M | ||
| Q4 24 | $40.3M | $599.9M | ||
| Q3 24 | $44.7M | $550.3M | ||
| Q2 24 | $45.2M | $507.5M | ||
| Q1 24 | $47.1M | $493.0M |
净利润CMBMUI
| Q4 25 | — | $233.6M | ||
| Q3 25 | — | $207.9M | ||
| Q2 25 | — | $266.7M | ||
| Q1 25 | — | $180.4M | ||
| Q4 24 | $-7.2M | $136.8M | ||
| Q3 24 | $-34.5M | $128.0M | ||
| Q2 24 | $-14.2M | $103.8M | ||
| Q1 24 | $-18.4M | $76.3M |
毛利率CMBMUI
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | 36.6% | 41.2% | ||
| Q3 24 | 43.6% | 42.1% | ||
| Q2 24 | 32.5% | 40.2% | ||
| Q1 24 | 29.8% | 35.3% |
营业利润率CMBMUI
| Q4 25 | — | 35.9% | ||
| Q3 25 | — | 35.7% | ||
| Q2 25 | — | 34.4% | ||
| Q1 25 | — | 34.2% | ||
| Q4 24 | -28.4% | 29.8% | ||
| Q3 24 | -69.6% | 30.7% | ||
| Q2 24 | -27.2% | 27.3% | ||
| Q1 24 | -33.1% | 22.6% |
净利率CMBMUI
| Q4 25 | — | 28.7% | ||
| Q3 25 | — | 28.3% | ||
| Q2 25 | — | 35.1% | ||
| Q1 25 | — | 27.2% | ||
| Q4 24 | -17.9% | 22.8% | ||
| Q3 24 | -77.3% | 23.3% | ||
| Q2 24 | -31.5% | 20.5% | ||
| Q1 24 | -39.2% | 15.5% |
每股收益（稀释后）CMBMUI
| Q4 25 | — | $3.86 | ||
| Q3 25 | — | $3.43 | ||
| Q2 25 | — | $4.40 | ||
| Q1 25 | — | $2.98 | ||
| Q4 24 | $-0.26 | $2.26 | ||
| Q3 24 | $-1.22 | $2.12 | ||
| Q2 24 | $-0.51 | $1.72 | ||
| Q1 24 | $-0.66 | $1.26 |
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 | — | $302.8M |
| 总债务越低越好 | $67.6M | $47.5M |
| 股东权益账面价值 | $-3.2M | $1.0B |
| 总资产 | $173.7M | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资CMBMUI
| Q4 25 | — | $302.8M | ||
| Q3 25 | — | $177.2M | ||
| Q2 25 | — | $149.7M | ||
| Q1 25 | — | $151.0M | ||
| Q4 24 | — | $133.1M | ||
| Q3 24 | — | $165.2M | ||
| Q2 24 | — | $126.3M | ||
| Q1 24 | — | $102.5M |
总债务CMBMUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | $67.6M | $406.3M | ||
| Q3 24 | $67.6M | $552.5M | ||
| Q2 24 | $68.9M | $708.1M | ||
| Q1 24 | $63.8M | $877.5M |
股东权益CMBMUI
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $828.4M | ||
| Q2 25 | — | $668.3M | ||
| Q1 25 | — | $436.1M | ||
| Q4 24 | $-3.2M | $290.4M | ||
| Q3 24 | $1.9M | $188.1M | ||
| Q2 24 | $34.1M | $95.1M | ||
| Q1 24 | $45.0M | $25.9M |
总资产CMBMUI
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $173.7M | $1.2B | ||
| Q3 24 | $194.3M | $1.2B | ||
| Q2 24 | $221.1M | $1.2B | ||
| Q1 24 | $219.8M | $1.2B |
负债/权益比CMBMUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | 36.12× | 2.94× | ||
| Q2 24 | 2.02× | 7.45× | ||
| Q1 24 | 1.42× | 33.92× |
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 | $-10.4M | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $-10.8M | $260.3M |
| 自由现金流率自由现金流/营收 | -26.8% | 31.9% |
| 资本支出强度资本支出/营收 | 1.1% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | $-21.4M | $699.5M |
8季度趋势，按日历期对齐
经营现金流CMBMUI
| Q4 25 | — | $263.9M | ||
| Q3 25 | — | $198.5M | ||
| Q2 25 | — | $130.4M | ||
| Q1 25 | — | $123.6M | ||
| Q4 24 | $-10.4M | $152.4M | ||
| Q3 24 | $8.9M | $233.7M | ||
| Q2 24 | $2.4M | $231.4M | ||
| Q1 24 | $-15.9M | $163.9M |
自由现金流CMBMUI
| Q4 25 | — | $260.3M | ||
| Q3 25 | — | $193.3M | ||
| Q2 25 | — | $125.2M | ||
| Q1 25 | — | $120.7M | ||
| Q4 24 | $-10.8M | $150.4M | ||
| Q3 24 | $6.8M | $231.1M | ||
| Q2 24 | $87.0K | $229.5M | ||
| Q1 24 | $-17.4M | $160.6M |
自由现金流率CMBMUI
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 26.3% | ||
| Q2 25 | — | 16.5% | ||
| Q1 25 | — | 18.2% | ||
| Q4 24 | -26.8% | 25.1% | ||
| Q3 24 | 15.2% | 42.0% | ||
| Q2 24 | 0.2% | 45.2% | ||
| Q1 24 | -37.0% | 32.6% |
资本支出强度CMBMUI
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 1.1% | 0.3% | ||
| Q3 24 | 4.8% | 0.5% | ||
| Q2 24 | 5.1% | 0.4% | ||
| Q1 24 | 3.3% | 0.7% |
现金转化率CMBMUI
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 0.95× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.68× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | — | 1.83× | ||
| Q2 24 | — | 2.23× | ||
| Q1 24 | — | 2.15× |
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
CMBM
| Enterprise | $16.6M | 41% |
| Point To Multi Point | $16.4M | 41% |
| Other | $5.8M | 14% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
