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柯蒂斯-莱特（CW）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
柯蒂斯-莱特的季度营收约是Ubiquiti Inc.的1.2倍（$947.0M vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 14.5%，领先14.2%），Ubiquiti Inc.同比增速更快（35.8% vs 14.9%），柯蒂斯-莱特自由现金流更多（$315.1M vs $260.3M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 15.2%）
柯蒂斯-莱特公司是总部位于美国北卡罗来纳州戴维森的制造与服务提供商，在美国内外均设有工厂及业务网点。公司1929年由柯蒂斯、莱特及多家供应商合并成立，成立之初即为美国最大航空企业，二战期间为美军生产了超14.2万台航空发动机。
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。
CW vs UI — 直观对比
营收规模更大
CW
是对方的1.2倍
$814.9M
营收增速更快
UI
高出21.0%
14.9%
净利率更高
UI
高出14.2%
14.5%
自由现金流更多
CW
多$54.8M
$260.3M
两年增速更快
UI
近两年复合增速
15.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $814.9M |
| 净利润 | $137.0M | $233.6M |
| 毛利率 | 37.5% | 45.9% |
| 营业利润率 | 19.2% | 35.9% |
| 净利率 | 14.5% | 28.7% |
| 营收同比 | 14.9% | 35.8% |
| 净利润同比 | 16.2% | 70.8% |
| 每股收益（稀释后） | $3.69 | $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CWUI
| Q4 25 | $947.0M | $814.9M | ||
| Q3 25 | $869.2M | $733.8M | ||
| Q2 25 | $876.6M | $759.2M | ||
| Q1 25 | $805.6M | $664.2M | ||
| Q4 24 | $824.3M | $599.9M | ||
| Q3 24 | $798.9M | $550.3M | ||
| Q2 24 | $784.8M | $507.5M | ||
| Q1 24 | $713.2M | $493.0M |
净利润CWUI
| Q4 25 | $137.0M | $233.6M | ||
| Q3 25 | $124.8M | $207.9M | ||
| Q2 25 | $121.1M | $266.7M | ||
| Q1 25 | $101.3M | $180.4M | ||
| Q4 24 | $117.9M | $136.8M | ||
| Q3 24 | $111.2M | $128.0M | ||
| Q2 24 | $99.5M | $103.8M | ||
| Q1 24 | $76.5M | $76.3M |
毛利率CWUI
| Q4 25 | 37.5% | 45.9% | ||
| Q3 25 | 37.7% | 46.0% | ||
| Q2 25 | 37.2% | 45.1% | ||
| Q1 25 | 36.3% | 44.5% | ||
| Q4 24 | 38.5% | 41.2% | ||
| Q3 24 | 37.3% | 42.1% | ||
| Q2 24 | 36.2% | 40.2% | ||
| Q1 24 | 35.6% | 35.3% |
营业利润率CWUI
| Q4 25 | 19.2% | 35.9% | ||
| Q3 25 | 19.1% | 35.7% | ||
| Q2 25 | 17.8% | 34.4% | ||
| Q1 25 | 16.0% | 34.2% | ||
| Q4 24 | 18.8% | 29.8% | ||
| Q3 24 | 18.1% | 30.7% | ||
| Q2 24 | 16.4% | 27.3% | ||
| Q1 24 | 14.0% | 22.6% |
净利率CWUI
| Q4 25 | 14.5% | 28.7% | ||
| Q3 25 | 14.4% | 28.3% | ||
| Q2 25 | 13.8% | 35.1% | ||
| Q1 25 | 12.6% | 27.2% | ||
| Q4 24 | 14.3% | 22.8% | ||
| Q3 24 | 13.9% | 23.3% | ||
| Q2 24 | 12.7% | 20.5% | ||
| Q1 24 | 10.7% | 15.5% |
每股收益（稀释后）CWUI
| Q4 25 | $3.69 | $3.86 | ||
| Q3 25 | $3.31 | $3.43 | ||
| Q2 25 | $3.19 | $4.40 | ||
| Q1 25 | $2.68 | $2.98 | ||
| Q4 24 | $3.09 | $2.26 | ||
| Q3 24 | $2.89 | $2.12 | ||
| Q2 24 | $2.58 | $1.72 | ||
| Q1 24 | $1.99 | $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 | $957.9M | $47.5M |
| 股东权益账面价值 | $2.5B | $1.0B |
| 总资产 | $5.2B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.38× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资CWUI
| Q4 25 | — | $302.8M | ||
| Q3 25 | — | $177.2M | ||
| Q2 25 | — | $149.7M | ||
| Q1 25 | $226.5M | $151.0M | ||
| Q4 24 | $385.0M | $133.1M | ||
| Q3 24 | — | $165.2M | ||
| Q2 24 | — | $126.3M | ||
| Q1 24 | $338.0M | $102.5M |
总债务CWUI
| Q4 25 | $957.9M | $47.5M | ||
| Q3 25 | $968.6M | $133.8M | ||
| Q2 25 | $958.4M | $250.0M | ||
| Q1 25 | $958.6M | $340.0M | ||
| Q4 24 | $1.0B | $406.3M | ||
| Q3 24 | $1.0B | $552.5M | ||
| Q2 24 | $1.0B | $708.1M | ||
| Q1 24 | $1.1B | $877.5M |
股东权益CWUI
| Q4 25 | $2.5B | $1.0B | ||
| Q3 25 | $2.5B | $828.4M | ||
| Q2 25 | $2.7B | $668.3M | ||
| Q1 25 | $2.6B | $436.1M | ||
| Q4 24 | $2.4B | $290.4M | ||
| Q3 24 | $2.5B | $188.1M | ||
| Q2 24 | $2.5B | $95.1M | ||
| Q1 24 | $2.4B | $25.9M |
总资产CWUI
| Q4 25 | $5.2B | $1.6B | ||
| Q3 25 | $5.1B | $1.5B | ||
| Q2 25 | $5.2B | $1.5B | ||
| Q1 25 | $5.0B | $1.3B | ||
| Q4 24 | $5.0B | $1.2B | ||
| Q3 24 | $4.9B | $1.2B | ||
| Q2 24 | $4.7B | $1.2B | ||
| Q1 24 | $4.6B | $1.2B |
负债/权益比CWUI
| Q4 25 | 0.38× | 0.05× | ||
| Q3 25 | 0.38× | 0.16× | ||
| Q2 25 | 0.35× | 0.37× | ||
| Q1 25 | 0.37× | 0.78× | ||
| Q4 24 | 0.43× | 1.40× | ||
| Q3 24 | 0.42× | 2.94× | ||
| Q2 24 | 0.43× | 7.45× | ||
| Q1 24 | 0.44× | 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 | $352.7M | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $315.1M | $260.3M |
| 自由现金流率自由现金流/营收 | 33.3% | 31.9% |
| 资本支出强度资本支出/营收 | 4.0% | 0.4% |
| 现金转化率经营现金流/净利润 | 2.57× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $553.7M | $699.5M |
8季度趋势，按日历期对齐
经营现金流CWUI
| Q4 25 | $352.7M | $263.9M | ||
| Q3 25 | $192.8M | $198.5M | ||
| Q2 25 | $136.6M | $130.4M | ||
| Q1 25 | $-38.8M | $123.6M | ||
| Q4 24 | $301.3M | $152.4M | ||
| Q3 24 | $177.3M | $233.7M | ||
| Q2 24 | $111.3M | $231.4M | ||
| Q1 24 | $-45.6M | $163.9M |
自由现金流CWUI
| Q4 25 | $315.1M | $260.3M | ||
| Q3 25 | $175.9M | $193.3M | ||
| Q2 25 | $117.2M | $125.2M | ||
| Q1 25 | $-54.5M | $120.7M | ||
| Q4 24 | $278.0M | $150.4M | ||
| Q3 24 | $162.7M | $231.1M | ||
| Q2 24 | $100.3M | $229.5M | ||
| Q1 24 | $-57.7M | $160.6M |
自由现金流率CWUI
| Q4 25 | 33.3% | 31.9% | ||
| Q3 25 | 20.2% | 26.3% | ||
| Q2 25 | 13.4% | 16.5% | ||
| Q1 25 | -6.8% | 18.2% | ||
| Q4 24 | 33.7% | 25.1% | ||
| Q3 24 | 20.4% | 42.0% | ||
| Q2 24 | 12.8% | 45.2% | ||
| Q1 24 | -8.1% | 32.6% |
资本支出强度CWUI
| Q4 25 | 4.0% | 0.4% | ||
| Q3 25 | 1.9% | 0.7% | ||
| Q2 25 | 2.2% | 0.7% | ||
| Q1 25 | 2.0% | 0.4% | ||
| Q4 24 | 2.8% | 0.3% | ||
| Q3 24 | 1.8% | 0.5% | ||
| Q2 24 | 1.4% | 0.4% | ||
| Q1 24 | 1.7% | 0.7% |
现金转化率CWUI
| Q4 25 | 2.57× | 1.13× | ||
| Q3 25 | 1.54× | 0.95× | ||
| Q2 25 | 1.13× | 0.49× | ||
| Q1 25 | -0.38× | 0.68× | ||
| Q4 24 | 2.56× | 1.11× | ||
| Q3 24 | 1.59× | 1.83× | ||
| Q2 24 | 1.12× | 2.23× | ||
| Q1 24 | -0.60× | 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
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
