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GREENLIGHT CAPITAL RE, LTD.（GLRE）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
GREENLIGHT CAPITAL RE, LTD.的季度营收约是Ribbon Communications Inc.的1.3倍（$210.3M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs 23.4%，领先31.3%），GREENLIGHT CAPITAL RE, LTD.同比增速更快（48.3% vs -10.3%），过去两年GREENLIGHT CAPITAL RE, LTD.的营收复合增速更高（4.8% vs -8.1%）
绿光资本再保险有限公司关联的绿光资本是1996年由大卫·艾因霍恩创立的美国对冲基金，主要投资北美公开交易的企业债务产品与股票，因2008年雷曼兄弟破产前做空其股票、2012年1月在英国因内幕交易被罚1100万美元而受到市场关注，艾因霍恩至今仍担任该基金管理人。
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。
GLRE vs RBBN — 直观对比
营收规模更大
GLRE
是对方的1.3倍
$162.6M
营收增速更快
GLRE
高出58.6%
-10.3%
净利率更高
RBBN
高出31.3%
23.4%
两年增速更快
GLRE
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $210.3M | $162.6M |
| 净利润 | $49.3M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | — | — |
| 净利率 | 23.4% | 54.8% |
| 营收同比 | 48.3% | -10.3% |
| 净利润同比 | 279.7% | — |
| 每股收益（稀释后） | $1.43 | $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
营收GLRERBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $210.3M | $227.3M | ||
| Q3 25 | $146.1M | $215.4M | ||
| Q2 25 | $160.1M | $220.6M | ||
| Q1 25 | $213.3M | $181.3M | ||
| Q4 24 | $141.8M | $251.4M | ||
| Q3 24 | $188.0M | $210.2M | ||
| Q2 24 | $174.9M | $192.6M |
净利润GLRERBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $49.3M | — | ||
| Q3 25 | $-4.4M | $-12.1M | ||
| Q2 25 | $329.0K | $-11.1M | ||
| Q1 25 | $29.6M | $-26.2M | ||
| Q4 24 | $-27.4M | — | ||
| Q3 24 | $35.2M | $-13.4M | ||
| Q2 24 | $8.0M | $-16.8M |
毛利率GLRERBBN
| 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% |
营业利润率GLRERBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | -10.8% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | -0.4% | ||
| Q2 24 | — | -1.0% |
净利率GLRERBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | 23.4% | — | ||
| Q3 25 | -3.0% | -5.6% | ||
| Q2 25 | 0.2% | -5.0% | ||
| Q1 25 | 13.9% | -14.5% | ||
| Q4 24 | -19.3% | — | ||
| Q3 24 | 18.7% | -6.4% | ||
| Q2 24 | 4.6% | -8.7% |
每股收益（稀释后）GLRERBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $1.43 | $0.50 | ||
| Q3 25 | $-0.13 | $-0.07 | ||
| Q2 25 | $0.01 | $-0.06 | ||
| Q1 25 | $0.86 | $-0.15 | ||
| Q4 24 | $-0.78 | $0.05 | ||
| Q3 24 | $1.01 | $-0.08 | ||
| Q2 24 | $0.23 | $-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 | $111.8M | $67.6M |
| 总债务越低越好 | $4.7M | — |
| 股东权益账面价值 | $708.0M | $419.1M |
| 总资产 | $2.2B | — |
| 负债/权益比越低杠杆越低 | 0.01× | — |
8季度趋势，按日历期对齐
现金及短期投资GLRERBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $111.8M | $96.4M | ||
| Q3 25 | $68.8M | $74.8M | ||
| Q2 25 | $82.4M | $60.5M | ||
| Q1 25 | $47.5M | $71.2M | ||
| Q4 24 | $64.7M | $87.8M | ||
| Q3 24 | $54.6M | $37.2M | ||
| Q2 24 | $52.2M | $64.6M |
总债务GLRERBBN
| Q1 26 | — | — | ||
| Q4 25 | $4.7M | $342.1M | ||
| Q3 25 | $34.7M | $344.3M | ||
| Q2 25 | $58.9M | $346.5M | ||
| Q1 25 | $59.8M | $347.4M | ||
| Q4 24 | $60.7M | $348.3M | ||
| Q3 24 | $62.6M | $349.1M | ||
| Q2 24 | $61.6M | $350.0M |
股东权益GLRERBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $708.0M | $449.0M | ||
| Q3 25 | $658.9M | $360.1M | ||
| Q2 25 | $663.3M | $370.4M | ||
| Q1 25 | $666.8M | $381.8M | ||
| Q4 24 | $635.9M | $404.6M | ||
| Q3 24 | $663.4M | $395.5M | ||
| Q2 24 | $634.0M | $405.0M |
总资产GLRERBBN
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $2.1B | $1.1B | ||
| Q2 25 | $2.2B | $1.1B | ||
| Q1 25 | $2.2B | $1.1B | ||
| Q4 24 | $2.0B | $1.2B | ||
| Q3 24 | $2.0B | $1.1B | ||
| Q2 24 | $1.9B | $1.1B |
负债/权益比GLRERBBN
| Q1 26 | — | — | ||
| Q4 25 | 0.01× | 0.76× | ||
| Q3 25 | 0.05× | 0.96× | ||
| Q2 25 | 0.09× | 0.94× | ||
| Q1 25 | 0.09× | 0.91× | ||
| Q4 24 | 0.10× | 0.86× | ||
| Q3 24 | 0.09× | 0.88× | ||
| Q2 24 | 0.10× | 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 | $100.2M | — |
| 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 | 2.03× | — |
| 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GLRERBBN
| Q1 26 | — | — | ||
| Q4 25 | $100.2M | $29.2M | ||
| Q3 25 | $31.2M | $26.5M | ||
| Q2 25 | $68.4M | $-795.0K | ||
| Q1 25 | $10.4M | $-3.5M | ||
| Q4 24 | $29.5M | $61.8M | ||
| Q3 24 | $41.3M | $-14.8M | ||
| Q2 24 | $22.7M | $-9.8M |
自由现金流GLRERBBN
| 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 |
自由现金流率GLRERBBN
| 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% |
资本支出强度GLRERBBN
| 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% |
现金转化率GLRERBBN
| Q1 26 | — | — | ||
| Q4 25 | 2.03× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 208.02× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.17× | — | ||
| Q2 24 | 2.85× | — |
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
GLRE
| Other | $124.7M | 59% |
| Innovations | $85.6M | 41% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
