vs
QWEST CORP（CTBB）与盖尔斯（GES）财务数据对比。点击上方公司名可切换其他公司
QWEST CORP的季度营收约是盖尔斯的1.4倍（$1.1B vs $791.4M），盖尔斯净利率更高（3.2% vs -187.5%，领先190.7%），盖尔斯同比增速更快（7.2% vs -15.0%），QWEST CORP自由现金流更多（$160.0M vs $-56.3M），过去两年盖尔斯的营收复合增速更高（-5.8% vs -8.6%）
奎斯特公司（以CenturyLink QC名义运营）是一家隶属于 lumen Technologies 的地区性贝尔运营公司。其前身为1911年成立的山地电话电报公司，先后更名为山地贝尔、美国西部通讯，2000年改为现名，业务整合了原Malheur Bell、西北贝尔、太平洋西北贝尔的运营资源。
盖尔斯是美国知名服饰品牌企业，以标志性的黑白风格广告广为人知。除核心服饰产品外，品牌还通过品牌授权模式推出腕表、珠宝、香水、包袋、鞋履等各类时尚配饰，在全球时尚消费市场拥有较高知名度。
CTBB vs GES — 直观对比
营收规模更大
CTBB
是对方的1.4倍
$791.4M
营收增速更快
GES
高出22.2%
-15.0%
净利率更高
GES
高出190.7%
-187.5%
自由现金流更多
CTBB
多$216.3M
$-56.3M
两年增速更快
GES
近两年复合增速
-8.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $791.4M |
| 净利润 | $-2.1B | $25.6M |
| 毛利率 | 67.9% | 42.5% |
| 营业利润率 | -183.2% | 2.9% |
| 净利率 | -187.5% | 3.2% |
| 营收同比 | -15.0% | 7.2% |
| 净利润同比 | -627.9% | 209.6% |
| 每股收益（稀释后） | — | $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CTBBGES
| Q4 25 | $1.1B | $791.4M | ||
| Q3 25 | $1.1B | $772.9M | ||
| Q2 25 | $1.1B | $647.8M | ||
| Q1 25 | $1.2B | $932.3M | ||
| Q4 24 | $1.3B | $738.5M | ||
| Q3 24 | $1.3B | $732.6M | ||
| Q2 24 | $1.3B | $591.9M | ||
| Q1 24 | $1.3B | $891.0M |
净利润CTBBGES
| Q4 25 | $-2.1B | $25.6M | ||
| Q3 25 | $176.0M | $6.2M | ||
| Q2 25 | $277.0M | $-32.9M | ||
| Q1 25 | $284.0M | $81.4M | ||
| Q4 24 | $391.0M | $-23.4M | ||
| Q3 24 | $365.0M | $-10.6M | ||
| Q2 24 | $378.0M | $13.0M | ||
| Q1 24 | $353.0M | $115.3M |
毛利率CTBBGES
| Q4 25 | 67.9% | 42.5% | ||
| Q3 25 | 65.3% | 42.5% | ||
| Q2 25 | 68.2% | 39.9% | ||
| Q1 25 | 69.3% | 44.1% | ||
| Q4 24 | 71.2% | 43.6% | ||
| Q3 24 | 69.9% | 43.7% | ||
| Q2 24 | 71.6% | 41.9% | ||
| Q1 24 | 71.9% | 45.4% |
营业利润率CTBBGES
| Q4 25 | -183.2% | 2.9% | ||
| Q3 25 | 22.3% | 2.3% | ||
| Q2 25 | 33.1% | -5.1% | ||
| Q1 25 | 33.7% | 11.1% | ||
| Q4 24 | 40.7% | 5.7% | ||
| Q3 24 | 38.5% | 6.5% | ||
| Q2 24 | 40.3% | -3.4% | ||
| Q1 24 | 37.6% | 16.3% |
净利率CTBBGES
| Q4 25 | -187.5% | 3.2% | ||
| Q3 25 | 16.1% | 0.8% | ||
| Q2 25 | 24.3% | -5.1% | ||
| Q1 25 | 24.7% | 8.7% | ||
| Q4 24 | 30.2% | -3.2% | ||
| Q3 24 | 28.2% | -1.4% | ||
| Q2 24 | 28.7% | 2.2% | ||
| Q1 24 | 26.8% | 12.9% |
每股收益（稀释后）CTBBGES
| Q4 25 | — | $0.48 | ||
| Q3 25 | — | $0.12 | ||
| Q2 25 | — | $-0.65 | ||
| Q1 25 | — | $1.29 | ||
| Q4 24 | — | $-0.47 | ||
| Q3 24 | — | $-0.28 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | — | $1.90 |
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 | $39.0M | $154.2M |
| 总债务越低越好 | $1.7B | $299.5M |
| 股东权益账面价值 | $10.9B | $508.5M |
| 总资产 | $15.8B | $3.0B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资CTBBGES
| Q4 25 | $39.0M | $154.2M | ||
| Q3 25 | $36.0M | $189.6M | ||
| Q2 25 | $25.0M | $151.2M | ||
| Q1 25 | $40.0M | $187.7M | ||
| Q4 24 | $26.0M | $140.9M | ||
| Q3 24 | $22.0M | $218.9M | ||
| Q2 24 | $18.0M | $241.7M | ||
| Q1 24 | $14.0M | $360.3M |
总债务CTBBGES
| Q4 25 | $1.7B | $299.5M | ||
| Q3 25 | $1.7B | $258.4M | ||
| Q2 25 | $1.7B | $241.7M | ||
| Q1 25 | $1.7B | $150.7M | ||
| Q4 24 | $1.7B | $238.3M | ||
| Q3 24 | $1.7B | $187.8M | ||
| Q2 24 | $1.9B | $196.9M | ||
| Q1 24 | $1.9B | $28.2M |
股东权益CTBBGES
| Q4 25 | $10.9B | $508.5M | ||
| Q3 25 | $13.0B | $487.6M | ||
| Q2 25 | $12.8B | $483.6M | ||
| Q1 25 | $12.5B | $505.0M | ||
| Q4 24 | $12.2B | $450.7M | ||
| Q3 24 | $11.9B | $491.2M | ||
| Q2 24 | $11.5B | $565.5M | ||
| Q1 24 | $11.1B | $684.9M |
总资产CTBBGES
| Q4 25 | $15.8B | $3.0B | ||
| Q3 25 | $17.9B | $3.0B | ||
| Q2 25 | $17.8B | $2.9B | ||
| Q1 25 | $17.6B | $2.8B | ||
| Q4 24 | $17.4B | $2.8B | ||
| Q3 24 | $17.0B | $2.8B | ||
| Q2 24 | $16.6B | $2.7B | ||
| Q1 24 | $16.4B | $2.6B |
负债/权益比CTBBGES
| Q4 25 | 0.15× | 0.59× | ||
| Q3 25 | 0.13× | 0.53× | ||
| Q2 25 | 0.13× | 0.50× | ||
| Q1 25 | 0.13× | 0.30× | ||
| Q4 24 | 0.14× | 0.53× | ||
| Q3 24 | 0.14× | 0.38× | ||
| Q2 24 | 0.17× | 0.35× | ||
| Q1 24 | 0.17× | 0.04× |
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 | $402.0M | $-39.5M |
| 自由现金流经营现金流 - 资本支出 | $160.0M | $-56.3M |
| 自由现金流率自由现金流/营收 | 14.5% | -7.1% |
| 资本支出强度资本支出/营收 | 22.0% | 2.1% |
| 现金转化率经营现金流/净利润 | — | -1.54× |
| 过去12个月自由现金流最近4个季度 | $938.0M | $62.5M |
8季度趋势，按日历期对齐
经营现金流CTBBGES
| Q4 25 | $402.0M | $-39.5M | ||
| Q3 25 | $427.0M | $74.9M | ||
| Q2 25 | $480.0M | $-73.4M | ||
| Q1 25 | $453.0M | $183.2M | ||
| Q4 24 | $548.0M | $-83.3M | ||
| Q3 24 | $627.0M | $44.7M | ||
| Q2 24 | $548.0M | $-22.9M | ||
| Q1 24 | $471.0M | $289.5M |
自由现金流CTBBGES
| Q4 25 | $160.0M | $-56.3M | ||
| Q3 25 | $252.0M | $53.4M | ||
| Q2 25 | $276.0M | $-95.3M | ||
| Q1 25 | $250.0M | $160.7M | ||
| Q4 24 | $277.0M | $-105.4M | ||
| Q3 24 | $396.0M | $24.3M | ||
| Q2 24 | $280.0M | $-44.0M | ||
| Q1 24 | $194.0M | $267.8M |
自由现金流率CTBBGES
| Q4 25 | 14.5% | -7.1% | ||
| Q3 25 | 23.1% | 6.9% | ||
| Q2 25 | 24.2% | -14.7% | ||
| Q1 25 | 21.7% | 17.2% | ||
| Q4 24 | 21.4% | -14.3% | ||
| Q3 24 | 30.6% | 3.3% | ||
| Q2 24 | 21.3% | -7.4% | ||
| Q1 24 | 14.7% | 30.1% |
资本支出强度CTBBGES
| Q4 25 | 22.0% | 2.1% | ||
| Q3 25 | 16.0% | 2.8% | ||
| Q2 25 | 17.9% | 3.4% | ||
| Q1 25 | 17.6% | 2.4% | ||
| Q4 24 | 20.9% | 3.0% | ||
| Q3 24 | 17.9% | 2.8% | ||
| Q2 24 | 20.4% | 3.6% | ||
| Q1 24 | 21.0% | 2.4% |
现金转化率CTBBGES
| Q4 25 | — | -1.54× | ||
| Q3 25 | 2.43× | 12.00× | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 1.60× | 2.25× | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | 1.72× | — | ||
| Q2 24 | 1.45× | -1.76× | ||
| Q1 24 | 1.33× | 2.51× |
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
CTBB
| Nonrelated Party | $665.0M | 60% |
| Other | $436.0M | 40% |
GES
| Products | $760.3M | 96% |
| Royalty | $31.1M | 4% |
