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GRAHAM CORP（GHM）与斑马技术（ZBRA）财务数据对比。点击上方公司名可切换其他公司
斑马技术的季度营收约是GRAHAM CORP的26.0倍（$1.5B vs $56.7M）。GRAHAM CORP净利率更高（5.0% vs 4.7%，领先0.3%）。GRAHAM CORP同比增速更快（20.5% vs 10.6%）。斑马技术自由现金流更多（$327.0M vs $2.4M）。过去两年斑马技术的营收复合增速更高（12.0% vs 7.5%）
格雷厄姆控股公司是一家多元化的美国控股集团，总部位于弗吉尼亚州阿灵顿县，在特拉华州注册成立，该集团曾是《华盛顿邮报》与《新闻周刊》杂志的所有者。
斑马技术（Zebra Technologies）是源自美国的跨国科技企业，专注于智能数据采集系统领域的研发与落地。公司总部位于芝加哥郊外的伊利诺伊州林肯郡，目前在全球57个国家和地区开展业务，雇员总数达10700名。
GHM vs ZBRA — 直观对比
营收规模更大
ZBRA
是对方的26.0倍
$56.7M
营收增速更快
GHM
高出10.0%
10.6%
净利率更高
GHM
高出0.3%
4.7%
自由现金流更多
ZBRA
多$324.6M
$2.4M
两年增速更快
ZBRA
近两年复合增速
7.5%
损益表 — Q3 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $56.7M | $1.5B |
| 净利润 | $2.8M | $70.0M |
| 毛利率 | 23.8% | 47.3% |
| 营业利润率 | 5.5% | 9.4% |
| 净利率 | 5.0% | 4.7% |
| 营收同比 | 20.5% | 10.6% |
| 净利润同比 | 79.2% | -57.1% |
| 每股收益（稀释后） | $0.25 | $1.40 |
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GHMZBRA
| Q4 25 | $56.7M | $1.5B | ||
| Q3 25 | $66.0M | $1.3B | ||
| Q2 25 | $55.5M | $1.3B | ||
| Q1 25 | $59.3M | $1.3B | ||
| Q4 24 | $47.0M | $1.3B | ||
| Q3 24 | $53.6M | $1.3B | ||
| Q2 24 | $50.0M | $1.2B | ||
| Q1 24 | $49.1M | $1.2B |
净利润GHMZBRA
| Q4 25 | $2.8M | $70.0M | ||
| Q3 25 | $3.1M | $101.0M | ||
| Q2 25 | $4.6M | $112.0M | ||
| Q1 25 | $4.4M | $136.0M | ||
| Q4 24 | $1.6M | $163.0M | ||
| Q3 24 | $3.3M | $137.0M | ||
| Q2 24 | $3.0M | $113.0M | ||
| Q1 24 | $1.3M | $115.0M |
毛利率GHMZBRA
| Q4 25 | 23.8% | 47.3% | ||
| Q3 25 | 21.7% | 48.0% | ||
| Q2 25 | 26.5% | 47.6% | ||
| Q1 25 | 27.0% | 49.3% | ||
| Q4 24 | 24.8% | 48.6% | ||
| Q3 24 | 23.9% | 48.8% | ||
| Q2 24 | 24.8% | 48.4% | ||
| Q1 24 | 25.9% | 47.9% |
营业利润率GHMZBRA
| Q4 25 | 5.5% | 9.4% | ||
| Q3 25 | 6.5% | 13.9% | ||
| Q2 25 | 8.9% | 14.2% | ||
| Q1 25 | 9.3% | 14.9% | ||
| Q4 24 | 4.7% | 16.9% | ||
| Q3 24 | 7.9% | 15.2% | ||
| Q2 24 | 6.5% | 13.7% | ||
| Q1 24 | 3.1% | 13.5% |
净利率GHMZBRA
| Q4 25 | 5.0% | 4.7% | ||
| Q3 25 | 4.7% | 7.7% | ||
| Q2 25 | 8.3% | 8.7% | ||
| Q1 25 | 7.4% | 10.4% | ||
| Q4 24 | 3.4% | 12.2% | ||
| Q3 24 | 6.1% | 10.9% | ||
| Q2 24 | 5.9% | 9.3% | ||
| Q1 24 | 2.7% | 9.8% |
每股收益（稀释后）GHMZBRA
| Q4 25 | $0.25 | $1.40 | ||
| Q3 25 | $0.28 | $1.97 | ||
| Q2 25 | $0.42 | $2.19 | ||
| Q1 25 | $0.40 | $2.62 | ||
| Q4 24 | $0.14 | $3.14 | ||
| Q3 24 | $0.30 | $2.64 | ||
| Q2 24 | $0.27 | $2.17 | ||
| Q1 24 | $0.11 | $2.23 |
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 | $22.3M | $125.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $131.3M | $3.6B |
| 总资产 | $292.9M | $8.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资GHMZBRA
| Q4 25 | $22.3M | $125.0M | ||
| Q3 25 | $20.6M | $1.1B | ||
| Q2 25 | $10.8M | $872.0M | ||
| Q1 25 | $21.6M | $879.0M | ||
| Q4 24 | $30.0M | $901.0M | ||
| Q3 24 | $32.3M | $676.0M | ||
| Q2 24 | $21.6M | $411.0M | ||
| Q1 24 | $16.9M | $127.0M |
总债务GHMZBRA
| Q4 25 | — | — | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
股东权益GHMZBRA
| Q4 25 | $131.3M | $3.6B | ||
| Q3 25 | $127.6M | $3.7B | ||
| Q2 25 | $123.4M | $3.6B | ||
| Q1 25 | $119.6M | $3.6B | ||
| Q4 24 | $114.4M | $3.6B | ||
| Q3 24 | $112.5M | $3.4B | ||
| Q2 24 | $108.2M | $3.3B | ||
| Q1 24 | $105.6M | $3.2B |
总资产GHMZBRA
| Q4 25 | $292.9M | $8.5B | ||
| Q3 25 | $287.0M | $8.1B | ||
| Q2 25 | $252.3M | $7.9B | ||
| Q1 25 | $264.1M | $7.9B | ||
| Q4 24 | $264.3M | $8.0B | ||
| Q3 24 | $249.5M | $7.7B | ||
| Q2 24 | $244.2M | $7.5B | ||
| Q1 24 | $233.9M | $7.3B |
负债/权益比GHMZBRA
| Q4 25 | — | — | ||
| Q3 25 | — | 0.58× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.66× | ||
| Q1 24 | — | 0.66× |
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 | $4.8M | $357.0M |
| 自由现金流经营现金流 - 资本支出 | $2.4M | $327.0M |
| 自由现金流率自由现金流/营收 | 4.3% | 22.2% |
| 资本支出强度资本支出/营收 | 4.1% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.67× | 5.10× |
| 过去12个月自由现金流最近4个季度 | $-6.1M | $831.0M |
8季度趋势，按日历期对齐
经营现金流GHMZBRA
| Q4 25 | $4.8M | $357.0M | ||
| Q3 25 | $13.6M | $235.0M | ||
| Q2 25 | $-2.3M | $147.0M | ||
| Q1 25 | $-3.6M | $178.0M | ||
| Q4 24 | $5.2M | $306.0M | ||
| Q3 24 | $13.9M | $294.0M | ||
| Q2 24 | $8.7M | $288.0M | ||
| Q1 24 | $8.6M | $125.0M |
自由现金流GHMZBRA
| Q4 25 | $2.4M | $327.0M | ||
| Q3 25 | $9.4M | $216.0M | ||
| Q2 25 | $-9.3M | $130.0M | ||
| Q1 25 | $-8.7M | $158.0M | ||
| Q4 24 | $-2.1M | $288.0M | ||
| Q3 24 | $10.4M | $277.0M | ||
| Q2 24 | $5.7M | $278.0M | ||
| Q1 24 | $4.6M | $111.0M |
自由现金流率GHMZBRA
| Q4 25 | 4.3% | 22.2% | ||
| Q3 25 | 14.3% | 16.4% | ||
| Q2 25 | -16.7% | 10.1% | ||
| Q1 25 | -14.7% | 12.1% | ||
| Q4 24 | -4.5% | 21.6% | ||
| Q3 24 | 19.5% | 22.1% | ||
| Q2 24 | 11.5% | 22.8% | ||
| Q1 24 | 9.4% | 9.4% |
资本支出强度GHMZBRA
| Q4 25 | 4.1% | 2.0% | ||
| Q3 25 | 6.3% | 1.4% | ||
| Q2 25 | 12.6% | 1.3% | ||
| Q1 25 | 8.7% | 1.5% | ||
| Q4 24 | 15.6% | 1.3% | ||
| Q3 24 | 6.5% | 1.4% | ||
| Q2 24 | 6.0% | 0.8% | ||
| Q1 24 | 8.2% | 1.2% |
现金转化率GHMZBRA
| Q4 25 | 1.67× | 5.10× | ||
| Q3 25 | 4.40× | 2.33× | ||
| Q2 25 | -0.49× | 1.31× | ||
| Q1 25 | -0.81× | 1.31× | ||
| Q4 24 | 3.29× | 1.88× | ||
| Q3 24 | 4.25× | 2.15× | ||
| Q2 24 | 2.94× | 2.55× | ||
| Q1 24 | 6.45× | 1.09× |
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
GHM
| Defense | $35.3M | 62% |
| Energy And Process | $18.3M | 32% |
| Space | $3.1M | 6% |
ZBRA
| Tangible Products | $1.2B | 83% |
| Service And Software | $255.0M | 17% |
