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CALIFORNIA WATER SERVICE GROUP（CWT）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
CALIFORNIA WATER SERVICE GROUP的季度营收约是Ribbon Communications Inc.的1.3倍（$210.7M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs 5.4%，领先49.3%），CALIFORNIA WATER SERVICE GROUP同比增速更快（-3.3% vs -10.3%），过去两年CALIFORNIA WATER SERVICE GROUP的营收复合增速更高（16.6% vs -8.1%）
加利福尼亚水务集团是美国公共事业企业，主营饮用水及污水处理服务，是美国第三大上市投资者所有水务公司，通过加利福尼亚、夏威夷、新墨西哥、华盛顿等州的子公司，为约200万民众提供服务。集团成立于1997年，作为加州水务的控股主体，推动业务向美国其他各州拓展。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
CWT vs RBBN — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $210.7M | $162.6M |
| 净利润 | $11.5M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | 12.2% | 37.6% |
| 净利率 | 5.4% | 54.8% |
| 营收同比 | -3.3% | -10.3% |
| 净利润同比 | -41.0% | — |
| 每股收益（稀释后） | $0.19 | $0.50 |
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
| Q1 26 | — | $162.6M | ||
| Q4 25 | $210.7M | $227.3M | ||
| Q3 25 | $314.1M | $215.4M | ||
| Q2 25 | $256.2M | $220.6M | ||
| Q1 25 | $182.7M | $181.3M | ||
| Q4 24 | $217.8M | $251.4M | ||
| Q3 24 | $306.2M | $210.2M | ||
| Q2 24 | $226.7M | $192.6M |
| Q1 26 | — | $89.1M | ||
| Q4 25 | $11.5M | — | ||
| Q3 25 | $61.2M | $-12.1M | ||
| Q2 25 | $42.2M | $-11.1M | ||
| Q1 25 | $13.3M | $-26.2M | ||
| Q4 24 | $19.5M | — | ||
| Q3 24 | $60.7M | $-13.4M | ||
| Q2 24 | $40.6M | $-16.8M |
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
| Q1 26 | — | 37.6% | ||
| Q4 25 | 12.2% | 4.1% | ||
| Q3 25 | 22.5% | 1.3% | ||
| Q2 25 | 20.2% | 1.9% | ||
| Q1 25 | 12.2% | -10.8% | ||
| Q4 24 | 14.8% | 13.2% | ||
| Q3 24 | 21.8% | -0.4% | ||
| Q2 24 | 21.2% | -1.0% |
| Q1 26 | — | 54.8% | ||
| Q4 25 | 5.4% | — | ||
| Q3 25 | 19.5% | -5.6% | ||
| Q2 25 | 16.5% | -5.0% | ||
| Q1 25 | 7.3% | -14.5% | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 19.8% | -6.4% | ||
| Q2 24 | 17.9% | -8.7% |
| Q1 26 | — | $0.50 | ||
| Q4 25 | $0.19 | $0.50 | ||
| Q3 25 | $1.03 | $-0.07 | ||
| Q2 25 | $0.71 | $-0.06 | ||
| Q1 25 | $0.22 | $-0.15 | ||
| Q4 24 | $0.31 | $0.05 | ||
| Q3 24 | $1.03 | $-0.08 | ||
| Q2 24 | $0.70 | $-0.10 |
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 | $51.8M | $67.6M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $1.7B | $419.1M |
| 总资产 | $5.7B | — |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
| Q1 26 | — | $67.6M | ||
| Q4 25 | $51.8M | $96.4M | ||
| Q3 25 | $76.0M | $74.8M | ||
| Q2 25 | $50.5M | $60.5M | ||
| Q1 25 | $44.5M | $71.2M | ||
| Q4 24 | $50.1M | $87.8M | ||
| Q3 24 | $59.6M | $37.2M | ||
| Q2 24 | $37.3M | $64.6M |
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $342.1M | ||
| Q3 25 | $1.1B | $344.3M | ||
| Q2 25 | $1.1B | $346.5M | ||
| Q1 25 | $1.1B | $347.4M | ||
| Q4 24 | $1.1B | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M |
| Q1 26 | — | $419.1M | ||
| Q4 25 | $1.7B | $449.0M | ||
| Q3 25 | $1.7B | $360.1M | ||
| Q2 25 | $1.7B | $370.4M | ||
| Q1 25 | $1.6B | $381.8M | ||
| Q4 24 | $1.6B | $404.6M | ||
| Q3 24 | $1.6B | $395.5M | ||
| Q2 24 | $1.5B | $405.0M |
| Q1 26 | — | — | ||
| Q4 25 | $5.7B | $1.2B | ||
| Q3 25 | $5.5B | $1.1B | ||
| Q2 25 | $5.4B | $1.1B | ||
| Q1 25 | $5.3B | $1.1B | ||
| Q4 24 | $5.2B | $1.2B | ||
| Q3 24 | $5.0B | $1.1B | ||
| Q2 24 | $4.9B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.87× | 0.76× | ||
| Q3 25 | 0.65× | 0.96× | ||
| Q2 25 | 0.67× | 0.94× | ||
| Q1 25 | 0.68× | 0.91× | ||
| Q4 24 | 0.67× | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
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 | $47.9M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 4.17× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $47.9M | $29.2M | ||
| Q3 25 | $167.3M | $26.5M | ||
| Q2 25 | $48.9M | $-795.0K | ||
| Q1 25 | $38.4M | $-3.5M | ||
| Q4 24 | $68.1M | $61.8M | ||
| Q3 24 | $101.8M | $-14.8M | ||
| Q2 24 | $94.4M | $-9.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $27.3M | ||
| Q3 25 | — | $21.0M | ||
| Q2 25 | — | $-6.5M | ||
| Q1 25 | — | $-15.7M | ||
| Q4 24 | — | $53.8M | ||
| Q3 24 | — | $-23.7M | ||
| Q2 24 | — | $-12.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | -2.9% | ||
| Q1 25 | — | -8.7% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | -11.3% | ||
| Q2 24 | — | -6.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 6.7% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 4.2% | ||
| Q2 24 | — | 1.6% |
| Q1 26 | — | — | ||
| Q4 25 | 4.17× | — | ||
| Q3 25 | 2.73× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 2.88× | — | ||
| Q4 24 | 3.50× | — | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | 2.33× | — |
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
CWT
| Residential | $133.2M | 63% |
| Business | $47.7M | 23% |
| Public Authorities | $13.4M | 6% |
| Industrial | $6.9M | 3% |
| Non Regulated Services | $4.8M | 2% |
| Other Non Regulated Service | $1.2M | 1% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
