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COMTECH TELECOMMUNICATIONS CORP（CMTL）与HARMONIC INC.（HLIT）财务数据对比。点击上方公司名可切换其他公司
HARMONIC INC.净利率更高（103.4% vs -14.3%，领先117.7%）。COMTECH TELECOMMUNICATIONS CORP同比增速更快（-4.1% vs -267.6%）。HARMONIC INC.自由现金流更多（$9.6M vs $4.8M）。过去两年HARMONIC INC.的营收复合增速更高（NaN% vs NaN%）
Comtech Telecommunications是一家总部位于美国的全球通信技术提供商，主营卫星通信系统、地面网络基础设施及定位服务，客户覆盖政府、国防、移动运营商和企业领域，为各类关键应用场景提供安全可靠的连接解决方案。
哈莫尼克（Harmonic Inc.）是一家美国科技企业，核心业务为研发并销售视频路由、服务器与存储产品，主要服务对象是从事电视及互联网视频内容生产、处理与分发的企业，在视频基础设施领域拥有深厚的技术积累。
CMTL vs HLIT — 直观对比
营收规模更大
CMTL
是对方的-2.1倍
$-53.0M
营收增速更快
CMTL
高出263.4%
-267.6%
净利率更高
HLIT
高出117.7%
-14.3%
自由现金流更多
HLIT
多$4.8M
$4.8M
两年增速更快
HLIT
近两年复合增速
-9.0%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $111.0M | $-53.0M |
| 净利润 | $-15.9M | $-54.8M |
| 毛利率 | 33.1% | 103.3% |
| 营业利润率 | -2.5% | — |
| 净利率 | -14.3% | 103.4% |
| 营收同比 | -4.1% | -267.6% |
| 净利润同比 | 89.3% | -243.8% |
| 每股收益（稀释后） | $-0.67 | $-0.48 |
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CMTLHLIT
| Q4 25 | $111.0M | $-53.0M | ||
| Q3 25 | $130.4M | $142.4M | ||
| Q2 25 | $126.8M | $138.0M | ||
| Q1 25 | $126.6M | $133.1M | ||
| Q4 24 | $115.8M | $31.6M | ||
| Q3 24 | $126.2M | $195.8M | ||
| Q2 24 | $128.1M | $138.7M | ||
| Q1 24 | $134.2M | $122.1M |
净利润CMTLHLIT
| Q4 25 | $-15.9M | $-54.8M | ||
| Q3 25 | $7.9M | $2.7M | ||
| Q2 25 | $33.9M | $2.9M | ||
| Q1 25 | $-48.7M | $5.9M | ||
| Q4 24 | $-148.4M | $38.1M | ||
| Q3 24 | $-90.8M | $21.7M | ||
| Q2 24 | $2.8M | $-12.5M | ||
| Q1 24 | $-10.6M | $-8.1M |
毛利率CMTLHLIT
| Q4 25 | 33.1% | 103.3% | ||
| Q3 25 | 31.2% | 54.2% | ||
| Q2 25 | 30.7% | 53.5% | ||
| Q1 25 | 26.7% | 59.0% | ||
| Q4 24 | 12.5% | -3.7% | ||
| Q3 24 | 21.5% | 53.5% | ||
| Q2 24 | 30.4% | 52.9% | ||
| Q1 24 | 32.2% | 51.7% |
营业利润率CMTLHLIT
| Q4 25 | -2.5% | — | ||
| Q3 25 | 1.4% | 6.9% | ||
| Q2 25 | -1.2% | 2.8% | ||
| Q1 25 | -8.1% | 7.6% | ||
| Q4 24 | -111.5% | — | ||
| Q3 24 | -64.6% | 18.1% | ||
| Q2 24 | -2.7% | -11.3% | ||
| Q1 24 | 2.2% | -7.8% |
净利率CMTLHLIT
| Q4 25 | -14.3% | 103.4% | ||
| Q3 25 | 6.1% | 1.9% | ||
| Q2 25 | 26.8% | 2.1% | ||
| Q1 25 | -38.5% | 4.5% | ||
| Q4 24 | -128.2% | 120.5% | ||
| Q3 24 | -71.9% | 11.1% | ||
| Q2 24 | 2.2% | -9.0% | ||
| Q1 24 | -7.9% | -6.6% |
每股收益（稀释后）CMTLHLIT
| Q4 25 | $-0.67 | $-0.48 | ||
| Q3 25 | $-0.41 | $0.02 | ||
| Q2 25 | $-0.49 | $0.03 | ||
| Q1 25 | $-0.76 | $0.05 | ||
| Q4 24 | $-5.29 | $0.32 | ||
| Q3 24 | $-3.48 | $0.19 | ||
| Q2 24 | $-0.04 | $-0.11 | ||
| Q1 24 | $-1.07 | $-0.07 |
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 | $43.6M | $124.1M |
| 总债务越低越好 | — | $112.1M |
| 股东权益账面价值 | $85.6M | $383.2M |
| 总资产 | $734.1M | $718.5M |
| 负债/权益比越低杠杆越低 | — | 0.29× |
8季度趋势，按日历期对齐
现金及短期投资CMTLHLIT
| Q4 25 | $43.6M | $124.1M | ||
| Q3 25 | $40.0M | $127.4M | ||
| Q2 25 | $28.4M | $123.9M | ||
| Q1 25 | $26.7M | $148.7M | ||
| Q4 24 | $29.6M | $101.5M | ||
| Q3 24 | $32.4M | $58.2M | ||
| Q2 24 | $27.2M | $45.9M | ||
| Q1 24 | $40.0M | $84.3M |
总债务CMTLHLIT
| Q4 25 | — | $112.1M | ||
| Q3 25 | — | $112.8M | ||
| Q2 25 | — | $113.3M | ||
| Q1 25 | — | $113.8M | ||
| Q4 24 | — | $114.3M | ||
| Q3 24 | — | $114.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CMTLHLIT
| Q4 25 | $85.6M | $383.2M | ||
| Q3 25 | $104.4M | $443.0M | ||
| Q2 25 | $115.4M | $446.4M | ||
| Q1 25 | $128.7M | $446.1M | ||
| Q4 24 | $150.4M | $465.3M | ||
| Q3 24 | $306.3M | $428.9M | ||
| Q2 24 | $406.4M | $392.8M | ||
| Q1 24 | $407.0M | $409.2M |
总资产CMTLHLIT
| Q4 25 | $734.1M | $718.5M | ||
| Q3 25 | $740.8M | $758.6M | ||
| Q2 25 | $751.1M | $783.3M | ||
| Q1 25 | $770.6M | $773.7M | ||
| Q4 24 | $793.2M | $796.5M | ||
| Q3 24 | $793.2M | $759.9M | ||
| Q2 24 | $991.0M | $713.7M | ||
| Q1 24 | $996.8M | $740.7M |
负债/权益比CMTLHLIT
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.25× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | — | ||
| Q1 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 | $8.1M | $12.3M |
| 自由现金流经营现金流 - 资本支出 | $4.8M | $9.6M |
| 自由现金流率自由现金流/营收 | 4.3% | -18.1% |
| 资本支出强度资本支出/营收 | 2.9% | -5.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $12.2M | $96.9M |
8季度趋势，按日历期对齐
经营现金流CMTLHLIT
| Q4 25 | $8.1M | $12.3M | ||
| Q3 25 | $11.4M | $23.8M | ||
| Q2 25 | $2.3M | $-11.7M | ||
| Q1 25 | $-234.0K | $83.6M | ||
| Q4 24 | $-21.8M | $48.5M | ||
| Q3 24 | $-9.5M | $8.7M | ||
| Q2 24 | $-3.8M | $-22.2M | ||
| Q1 24 | $-26.7M | $26.8M |
自由现金流CMTLHLIT
| Q4 25 | $4.8M | $9.6M | ||
| Q3 25 | $9.4M | $21.0M | ||
| Q2 25 | $-160.0K | $-15.5M | ||
| Q1 25 | $-1.9M | $81.7M | ||
| Q4 24 | $-24.2M | $46.2M | ||
| Q3 24 | $-12.4M | $5.7M | ||
| Q2 24 | $-6.5M | $-24.1M | ||
| Q1 24 | $-30.9M | $24.9M |
自由现金流率CMTLHLIT
| Q4 25 | 4.3% | -18.1% | ||
| Q3 25 | 7.2% | 14.8% | ||
| Q2 25 | -0.1% | -11.2% | ||
| Q1 25 | -1.5% | 61.4% | ||
| Q4 24 | -20.9% | 146.0% | ||
| Q3 24 | -9.8% | 2.9% | ||
| Q2 24 | -5.0% | -17.4% | ||
| Q1 24 | -23.0% | 20.4% |
资本支出强度CMTLHLIT
| Q4 25 | 2.9% | -5.0% | ||
| Q3 25 | 1.6% | 1.9% | ||
| Q2 25 | 1.9% | 2.8% | ||
| Q1 25 | 1.3% | 1.4% | ||
| Q4 24 | 2.1% | 7.4% | ||
| Q3 24 | 2.3% | 1.5% | ||
| Q2 24 | 2.1% | 1.4% | ||
| Q1 24 | 3.2% | 1.6% |
现金转化率CMTLHLIT
| Q4 25 | — | — | ||
| Q3 25 | 1.45× | 8.82× | ||
| Q2 25 | 0.07× | -4.07× | ||
| Q1 25 | — | 14.07× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | -1.36× | — | ||
| 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
CMTL
| Satellite And Space Communications Segment | $55.1M | 50% |
| Transferred At Point In Time | $39.4M | 36% |
| Satellite And Space Communications | $16.3M | 15% |
| Terrestrial And Wireless Networks | $1.1M | 1% |
HLIT
暂无分部数据
