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COMTECH TELECOMMUNICATIONS CORP（CMTL）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COMTECH TELECOMMUNICATIONS CORP的7.3倍（$814.9M vs $111.0M）。Ubiquiti Inc.净利率更高（28.7% vs -14.3%，领先43.0%）。Ubiquiti Inc.同比增速更快（35.8% vs -4.1%）。Ubiquiti Inc.自由现金流更多（$260.3M vs $4.8M）。过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs -9.0%）
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。
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。
CMTL vs UI — 直观对比
营收规模更大
UI
是对方的7.3倍
$111.0M
营收增速更快
UI
高出40.0%
-4.1%
净利率更高
UI
高出43.0%
-14.3%
自由现金流更多
UI
多$255.5M
$4.8M
两年增速更快
UI
近两年复合增速
-9.0%
损益表 — Q1 2026 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $111.0M | $814.9M |
| 净利润 | $-15.9M | $233.6M |
| 毛利率 | 33.1% | 45.9% |
| 营业利润率 | -2.5% | 35.9% |
| 净利率 | -14.3% | 28.7% |
| 营收同比 | -4.1% | 35.8% |
| 净利润同比 | 89.3% | 70.8% |
| 每股收益（稀释后） | $-0.67 | $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CMTLUI
| Q4 25 | $111.0M | $814.9M | ||
| Q3 25 | $130.4M | $733.8M | ||
| Q2 25 | $126.8M | $759.2M | ||
| Q1 25 | $126.6M | $664.2M | ||
| Q4 24 | $115.8M | $599.9M | ||
| Q3 24 | $126.2M | $550.3M | ||
| Q2 24 | $128.1M | $507.5M | ||
| Q1 24 | $134.2M | $493.0M |
净利润CMTLUI
| Q4 25 | $-15.9M | $233.6M | ||
| Q3 25 | $7.9M | $207.9M | ||
| Q2 25 | $33.9M | $266.7M | ||
| Q1 25 | $-48.7M | $180.4M | ||
| Q4 24 | $-148.4M | $136.8M | ||
| Q3 24 | $-90.8M | $128.0M | ||
| Q2 24 | $2.8M | $103.8M | ||
| Q1 24 | $-10.6M | $76.3M |
毛利率CMTLUI
| Q4 25 | 33.1% | 45.9% | ||
| Q3 25 | 31.2% | 46.0% | ||
| Q2 25 | 30.7% | 45.1% | ||
| Q1 25 | 26.7% | 44.5% | ||
| Q4 24 | 12.5% | 41.2% | ||
| Q3 24 | 21.5% | 42.1% | ||
| Q2 24 | 30.4% | 40.2% | ||
| Q1 24 | 32.2% | 35.3% |
营业利润率CMTLUI
| Q4 25 | -2.5% | 35.9% | ||
| Q3 25 | 1.4% | 35.7% | ||
| Q2 25 | -1.2% | 34.4% | ||
| Q1 25 | -8.1% | 34.2% | ||
| Q4 24 | -111.5% | 29.8% | ||
| Q3 24 | -64.6% | 30.7% | ||
| Q2 24 | -2.7% | 27.3% | ||
| Q1 24 | 2.2% | 22.6% |
净利率CMTLUI
| Q4 25 | -14.3% | 28.7% | ||
| Q3 25 | 6.1% | 28.3% | ||
| Q2 25 | 26.8% | 35.1% | ||
| Q1 25 | -38.5% | 27.2% | ||
| Q4 24 | -128.2% | 22.8% | ||
| Q3 24 | -71.9% | 23.3% | ||
| Q2 24 | 2.2% | 20.5% | ||
| Q1 24 | -7.9% | 15.5% |
每股收益（稀释后）CMTLUI
| Q4 25 | $-0.67 | $3.86 | ||
| Q3 25 | $-0.41 | $3.43 | ||
| Q2 25 | $-0.49 | $4.40 | ||
| Q1 25 | $-0.76 | $2.98 | ||
| Q4 24 | $-5.29 | $2.26 | ||
| Q3 24 | $-3.48 | $2.12 | ||
| Q2 24 | $-0.04 | $1.72 | ||
| Q1 24 | $-1.07 | $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 | $43.6M | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $85.6M | $1.0B |
| 总资产 | $734.1M | $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CMTLUI
| Q4 25 | $43.6M | $302.8M | ||
| Q3 25 | $40.0M | $177.2M | ||
| Q2 25 | $28.4M | $149.7M | ||
| Q1 25 | $26.7M | $151.0M | ||
| Q4 24 | $29.6M | $133.1M | ||
| Q3 24 | $32.4M | $165.2M | ||
| Q2 24 | $27.2M | $126.3M | ||
| Q1 24 | $40.0M | $102.5M |
总债务CMTLUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益CMTLUI
| Q4 25 | $85.6M | $1.0B | ||
| Q3 25 | $104.4M | $828.4M | ||
| Q2 25 | $115.4M | $668.3M | ||
| Q1 25 | $128.7M | $436.1M | ||
| Q4 24 | $150.4M | $290.4M | ||
| Q3 24 | $306.3M | $188.1M | ||
| Q2 24 | $406.4M | $95.1M | ||
| Q1 24 | $407.0M | $25.9M |
总资产CMTLUI
| Q4 25 | $734.1M | $1.6B | ||
| Q3 25 | $740.8M | $1.5B | ||
| Q2 25 | $751.1M | $1.5B | ||
| Q1 25 | $770.6M | $1.3B | ||
| Q4 24 | $793.2M | $1.2B | ||
| Q3 24 | $793.2M | $1.2B | ||
| Q2 24 | $991.0M | $1.2B | ||
| Q1 24 | $996.8M | $1.2B |
负债/权益比CMTLUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 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 | $8.1M | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $4.8M | $260.3M |
| 自由现金流率自由现金流/营收 | 4.3% | 31.9% |
| 资本支出强度资本支出/营收 | 2.9% | 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 | $12.2M | $699.5M |
8季度趋势，按日历期对齐
经营现金流CMTLUI
| Q4 25 | $8.1M | $263.9M | ||
| Q3 25 | $11.4M | $198.5M | ||
| Q2 25 | $2.3M | $130.4M | ||
| Q1 25 | $-234.0K | $123.6M | ||
| Q4 24 | $-21.8M | $152.4M | ||
| Q3 24 | $-9.5M | $233.7M | ||
| Q2 24 | $-3.8M | $231.4M | ||
| Q1 24 | $-26.7M | $163.9M |
自由现金流CMTLUI
| Q4 25 | $4.8M | $260.3M | ||
| Q3 25 | $9.4M | $193.3M | ||
| Q2 25 | $-160.0K | $125.2M | ||
| Q1 25 | $-1.9M | $120.7M | ||
| Q4 24 | $-24.2M | $150.4M | ||
| Q3 24 | $-12.4M | $231.1M | ||
| Q2 24 | $-6.5M | $229.5M | ||
| Q1 24 | $-30.9M | $160.6M |
自由现金流率CMTLUI
| Q4 25 | 4.3% | 31.9% | ||
| Q3 25 | 7.2% | 26.3% | ||
| Q2 25 | -0.1% | 16.5% | ||
| Q1 25 | -1.5% | 18.2% | ||
| Q4 24 | -20.9% | 25.1% | ||
| Q3 24 | -9.8% | 42.0% | ||
| Q2 24 | -5.0% | 45.2% | ||
| Q1 24 | -23.0% | 32.6% |
资本支出强度CMTLUI
| Q4 25 | 2.9% | 0.4% | ||
| Q3 25 | 1.6% | 0.7% | ||
| Q2 25 | 1.9% | 0.7% | ||
| Q1 25 | 1.3% | 0.4% | ||
| Q4 24 | 2.1% | 0.3% | ||
| Q3 24 | 2.3% | 0.5% | ||
| Q2 24 | 2.1% | 0.4% | ||
| Q1 24 | 3.2% | 0.7% |
现金转化率CMTLUI
| Q4 25 | — | 1.13× | ||
| Q3 25 | 1.45× | 0.95× | ||
| Q2 25 | 0.07× | 0.49× | ||
| Q1 25 | — | 0.68× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | — | 1.83× | ||
| Q2 24 | -1.36× | 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
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
