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格罗方德（GFS）与VIAVI SOLUTIONS INC.（VIAV）财务数据对比。点击上方公司名可切换其他公司
格罗方德的季度营收约是VIAVI SOLUTIONS INC.的4.6倍（$1.7B vs $369.3M），格罗方德净利率更高（14.8% vs -13.0%，领先27.8%），VIAVI SOLUTIONS INC.同比增速更快（36.4% vs -2.9%），过去两年VIAVI SOLUTIONS INC.的营收复合增速更高（22.5% vs -4.3%）
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
VIAVI Solutions前身为JDS Uniphase（JDSU）的一部分，是总部位于美国亚利桑那州钱德勒的网络测试、测量与保障技术企业，主营网络测试和监控设备，同时研发的光学技术可应用于材料质量管控、货币防伪、3D动作传感等多个领域，微软Kinect体感游戏控制器的相关技术也来自该公司。
GFS vs VIAV — 直观对比
营收规模更大
GFS
是对方的4.6倍
$369.3M
营收增速更快
VIAV
高出39.3%
-2.9%
净利率更高
GFS
高出27.8%
-13.0%
两年增速更快
VIAV
近两年复合增速
-4.3%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $369.3M |
| 净利润 | $249.0M | $-48.1M |
| 毛利率 | 24.8% | 57.0% |
| 营业利润率 | 11.6% | 3.1% |
| 净利率 | 14.8% | -13.0% |
| 营收同比 | -2.9% | 36.4% |
| 净利润同比 | 39.9% | -628.6% |
| 每股收益（稀释后） | $0.44 | $-0.21 |
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GFSVIAV
| Q4 25 | — | $369.3M | ||
| Q3 25 | $1.7B | $299.1M | ||
| Q2 25 | $1.7B | $290.5M | ||
| Q1 25 | $1.6B | $284.8M | ||
| Q4 24 | — | $270.8M | ||
| Q3 24 | $1.7B | $238.2M | ||
| Q2 24 | $1.6B | $252.0M | ||
| Q1 24 | $1.5B | $246.0M |
净利润GFSVIAV
| Q4 25 | — | $-48.1M | ||
| Q3 25 | $249.0M | $-21.4M | ||
| Q2 25 | $228.0M | $8.0M | ||
| Q1 25 | $211.0M | $19.5M | ||
| Q4 24 | — | $9.1M | ||
| Q3 24 | $178.0M | $-1.8M | ||
| Q2 24 | $155.0M | $-21.7M | ||
| Q1 24 | $134.0M | $-24.6M |
毛利率GFSVIAV
| Q4 25 | — | 57.0% | ||
| Q3 25 | 24.8% | 56.5% | ||
| Q2 25 | 24.2% | 56.3% | ||
| Q1 25 | 22.4% | 56.4% | ||
| Q4 24 | — | 59.4% | ||
| Q3 24 | 23.8% | 57.1% | ||
| Q2 24 | 24.2% | 57.8% | ||
| Q1 24 | 25.4% | 56.1% |
营业利润率GFSVIAV
| Q4 25 | — | 3.1% | ||
| Q3 25 | 11.6% | 2.5% | ||
| Q2 25 | 11.6% | 5.3% | ||
| Q1 25 | 9.5% | 3.0% | ||
| Q4 24 | — | 8.2% | ||
| Q3 24 | 10.6% | 4.8% | ||
| Q2 24 | 9.5% | -2.3% | ||
| Q1 24 | 9.5% | -4.8% |
净利率GFSVIAV
| Q4 25 | — | -13.0% | ||
| Q3 25 | 14.8% | -7.2% | ||
| Q2 25 | 13.5% | 2.8% | ||
| Q1 25 | 13.3% | 6.8% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | 10.2% | -0.8% | ||
| Q2 24 | 9.5% | -8.6% | ||
| Q1 24 | 8.7% | -10.0% |
每股收益（稀释后）GFSVIAV
| Q4 25 | — | $-0.21 | ||
| Q3 25 | $0.44 | $-0.10 | ||
| Q2 25 | $0.41 | $0.03 | ||
| Q1 25 | $0.38 | $0.09 | ||
| Q4 24 | — | $0.04 | ||
| Q3 24 | $0.32 | $-0.01 | ||
| Q2 24 | $0.28 | $-0.10 | ||
| Q1 24 | $0.24 | $-0.11 |
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 | $2.0B | $767.4M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $11.8B | $834.3M |
| 总资产 | $16.7B | $2.8B |
| 负债/权益比越低杠杆越低 | — | 1.46× |
8季度趋势，按日历期对齐
现金及短期投资GFSVIAV
| Q4 25 | — | $767.4M | ||
| Q3 25 | $2.0B | $545.6M | ||
| Q2 25 | $1.8B | $425.3M | ||
| Q1 25 | $1.6B | $396.8M | ||
| Q4 24 | — | $509.4M | ||
| Q3 24 | $2.3B | $493.1M | ||
| Q2 24 | $2.2B | $491.2M | ||
| Q1 24 | $2.2B | $482.6M |
总债务GFSVIAV
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $640.5M | ||
| Q2 25 | — | $396.3M | ||
| Q1 25 | — | $396.1M | ||
| Q4 24 | — | $639.3M | ||
| Q3 24 | — | $637.6M | ||
| Q2 24 | — | $636.0M | ||
| Q1 24 | — | $634.4M |
股东权益GFSVIAV
| Q4 25 | — | $834.3M | ||
| Q3 25 | $11.8B | $723.9M | ||
| Q2 25 | $11.5B | $780.2M | ||
| Q1 25 | $11.1B | $728.8M | ||
| Q4 24 | — | $682.8M | ||
| Q3 24 | $11.6B | $702.1M | ||
| Q2 24 | $11.3B | $681.6M | ||
| Q1 24 | $11.3B | $705.1M |
总资产GFSVIAV
| Q4 25 | — | $2.8B | ||
| Q3 25 | $16.7B | $2.1B | ||
| Q2 25 | $16.8B | $2.0B | ||
| Q1 25 | $16.5B | $1.9B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $18.1B | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.7B |
负债/权益比GFSVIAV
| Q4 25 | — | 1.46× | ||
| Q3 25 | — | 0.88× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 0.54× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | — | 0.93× | ||
| Q1 24 | — | 0.90× |
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 | $595.0M | $42.5M |
| 自由现金流经营现金流 - 资本支出 | — | $36.9M |
| 自由现金流率自由现金流/营收 | — | 10.0% |
| 资本支出强度资本支出/营收 | — | 1.5% |
| 现金转化率经营现金流/净利润 | 2.39× | — |
| 过去12个月自由现金流最近4个季度 | — | $78.7M |
8季度趋势，按日历期对齐
经营现金流GFSVIAV
| Q4 25 | — | $42.5M | ||
| Q3 25 | $595.0M | $31.0M | ||
| Q2 25 | $431.0M | $23.8M | ||
| Q1 25 | $331.0M | $7.8M | ||
| Q4 24 | — | $44.7M | ||
| Q3 24 | $375.0M | $13.5M | ||
| Q2 24 | $402.0M | $26.2M | ||
| Q1 24 | $488.0M | $19.5M |
自由现金流GFSVIAV
| Q4 25 | — | $36.9M | ||
| Q3 25 | — | $22.5M | ||
| Q2 25 | — | $18.3M | ||
| Q1 25 | — | $1.0M | ||
| Q4 24 | — | $36.5M | ||
| Q3 24 | — | $6.2M | ||
| Q2 24 | — | $22.4M | ||
| Q1 24 | — | $16.3M |
自由现金流率GFSVIAV
| Q4 25 | — | 10.0% | ||
| Q3 25 | — | 7.5% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 8.9% | ||
| Q1 24 | — | 6.6% |
资本支出强度GFSVIAV
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 3.1% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.3% |
现金转化率GFSVIAV
| Q4 25 | — | — | ||
| Q3 25 | 2.39× | — | ||
| Q2 25 | 1.89× | 2.98× | ||
| Q1 25 | 1.57× | 0.40× | ||
| Q4 24 | — | 4.91× | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 2.59× | — | ||
| Q1 24 | 3.64× | — |
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
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
VIAV
| Products | $317.3M | 86% |
| Services | $52.0M | 14% |
