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杜比实验室（DLB）与RAYONIER ADVANCED MATERIALS INC.（RYAM）财务数据对比。点击上方公司名可切换其他公司
RAYONIER ADVANCED MATERIALS INC.的季度营收约是杜比实验室的1.1倍（$417.5M vs $395.6M），杜比实验室净利率更高（24.0% vs -5.0%，领先29.0%），杜比实验室同比增速更快（7.1% vs -1.2%），过去两年杜比实验室的营收复合增速更高（13.9% vs 3.8%）
杜比实验室是一家美国科技企业，专注于音频降噪、音频编码压缩、空间音频及高动态范围（HDR）影像等技术的研发，旗下技术广泛授权给全球各地的消费电子制造商使用，助力终端产品为用户带来更出色的视听体验。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
DLB vs RYAM — 直观对比
营收规模更大
RYAM
是对方的1.1倍
$395.6M
营收增速更快
DLB
高出8.2%
-1.2%
净利率更高
DLB
高出29.0%
-5.0%
两年增速更快
DLB
近两年复合增速
3.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $395.6M | $417.5M |
| 净利润 | $94.9M | $-21.1M |
| 毛利率 | 88.7% | 8.9% |
| 营业利润率 | 28.5% | 2.6% |
| 净利率 | 24.0% | -5.0% |
| 营收同比 | 7.1% | -1.2% |
| 净利润同比 | 3.4% | -31.9% |
| 每股收益（稀释后） | $0.99 | $-0.33 |
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DLBRYAM
| Q2 26 | $395.6M | — | ||
| Q1 26 | $346.7M | — | ||
| Q4 25 | $346.7M | $417.5M | ||
| Q3 25 | $307.0M | $352.8M | ||
| Q2 25 | $315.5M | $340.0M | ||
| Q1 25 | $369.6M | $356.0M | ||
| Q4 24 | $357.0M | $422.5M | ||
| Q3 24 | $304.8M | $401.1M |
净利润DLBRYAM
| Q2 26 | $94.9M | — | ||
| Q1 26 | $53.3M | — | ||
| Q4 25 | $53.3M | $-21.1M | ||
| Q3 25 | $49.3M | $-4.5M | ||
| Q2 25 | $46.1M | $-363.2M | ||
| Q1 25 | $91.8M | $-32.0M | ||
| Q4 24 | $67.8M | $-16.0M | ||
| Q3 24 | $58.6M | $-32.6M |
毛利率DLBRYAM
| Q2 26 | 88.7% | — | ||
| Q1 26 | 87.5% | — | ||
| Q4 25 | 87.5% | 8.9% | ||
| Q3 25 | 87.1% | 9.7% | ||
| Q2 25 | 86.1% | 7.0% | ||
| Q1 25 | 90.3% | 6.8% | ||
| Q4 24 | 88.6% | 8.7% | ||
| Q3 24 | 88.8% | 10.9% |
营业利润率DLBRYAM
| Q2 26 | 28.5% | — | ||
| Q1 26 | 17.9% | — | ||
| Q4 25 | 17.9% | 2.6% | ||
| Q3 25 | 9.7% | 2.8% | ||
| Q2 25 | 15.1% | -0.4% | ||
| Q1 25 | 29.2% | -4.2% | ||
| Q4 24 | 22.4% | 2.6% | ||
| Q3 24 | 15.2% | -4.2% |
净利率DLBRYAM
| Q2 26 | 24.0% | — | ||
| Q1 26 | 15.4% | — | ||
| Q4 25 | 15.4% | -5.0% | ||
| Q3 25 | 16.1% | -1.3% | ||
| Q2 25 | 14.6% | -106.8% | ||
| Q1 25 | 24.8% | -9.0% | ||
| Q4 24 | 19.0% | -3.8% | ||
| Q3 24 | 19.2% | -8.1% |
每股收益（稀释后）DLBRYAM
| Q2 26 | $0.99 | — | ||
| Q1 26 | $0.55 | — | ||
| Q4 25 | $0.55 | $-0.33 | ||
| Q3 25 | $0.50 | $-0.07 | ||
| Q2 25 | $0.48 | $-5.44 | ||
| Q1 25 | $0.94 | $-0.49 | ||
| Q4 24 | $0.70 | $-0.25 | ||
| Q3 24 | $0.59 | $-0.49 |
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 | $594.7M | $75.4M |
| 总债务越低越好 | — | $758.1M |
| 股东权益账面价值 | $2.6B | $316.6M |
| 总资产 | $3.2B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资DLBRYAM
| Q2 26 | $594.7M | — | ||
| Q1 26 | $644.6M | — | ||
| Q4 25 | $644.6M | $75.4M | ||
| Q3 25 | $702.6M | $77.0M | ||
| Q2 25 | $699.3M | $70.7M | ||
| Q1 25 | $626.6M | $129.9M | ||
| Q4 24 | $520.8M | $125.2M | ||
| Q3 24 | $482.0M | $136.1M |
总债务DLBRYAM
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | $758.1M | ||
| Q3 25 | — | $763.5M | ||
| Q2 25 | — | $720.4M | ||
| Q1 25 | — | $707.0M | ||
| Q4 24 | — | $706.4M | ||
| Q3 24 | — | $747.7M |
股东权益DLBRYAM
| Q2 26 | $2.6B | — | ||
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $316.6M | ||
| Q3 25 | $2.6B | $338.2M | ||
| Q2 25 | $2.6B | $342.3M | ||
| Q1 25 | $2.6B | $688.1M | ||
| Q4 24 | $2.5B | $713.9M | ||
| Q3 24 | $2.5B | $732.7M |
总资产DLBRYAM
| Q2 26 | $3.2B | — | ||
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $1.8B | ||
| Q3 25 | $3.2B | $1.8B | ||
| Q2 25 | $3.2B | $1.8B | ||
| Q1 25 | $3.2B | $2.1B | ||
| Q4 24 | $3.2B | $2.1B | ||
| Q3 24 | $3.1B | $2.2B |
负债/权益比DLBRYAM
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | 2.39× | ||
| Q3 25 | — | 2.26× | ||
| Q2 25 | — | 2.10× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | 0.99× | ||
| Q3 24 | — | 1.02× |
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 | $147.3M | $32.3M |
| 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 | 1.55× | — |
| 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
经营现金流DLBRYAM
| Q2 26 | $147.3M | — | ||
| Q1 26 | $54.8M | — | ||
| Q4 25 | $54.8M | $32.3M | ||
| Q3 25 | $472.2M | $-17.8M | ||
| Q2 25 | $67.7M | $-30.2M | ||
| Q1 25 | $174.9M | $39.6M | ||
| Q4 24 | $106.8M | $54.9M | ||
| Q3 24 | $327.3M | $49.8M |
自由现金流DLBRYAM
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | — | ||
| Q3 25 | $435.9M | — | ||
| Q2 25 | $61.3M | — | ||
| Q1 25 | $168.0M | — | ||
| Q4 24 | $100.0M | — | ||
| Q3 24 | $297.2M | — |
自由现金流率DLBRYAM
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 14.5% | — | ||
| Q3 25 | 142.0% | — | ||
| Q2 25 | 19.4% | — | ||
| Q1 25 | 45.5% | — | ||
| Q4 24 | 28.0% | — | ||
| Q3 24 | 97.5% | — |
资本支出强度DLBRYAM
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | — | ||
| Q3 25 | 11.8% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 9.8% | — |
现金转化率DLBRYAM
| Q2 26 | 1.55× | — | ||
| Q1 26 | 1.03× | — | ||
| Q4 25 | 1.03× | — | ||
| Q3 25 | 9.57× | — | ||
| Q2 25 | 1.47× | — | ||
| Q1 25 | 1.91× | — | ||
| Q4 24 | 1.57× | — | ||
| Q3 24 | 5.59× | — |
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
DLB
| Licensing | $372.2M | 94% |
| Products and services | $23.4M | 6% |
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
