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佳明（GRMN）与Intuitive Machines, Inc.（LUNR）财务数据对比。点击上方公司名可切换其他公司
佳明的季度营收约是Intuitive Machines, Inc.的49.1倍（$2.1B vs $43.3M）。佳明净利率更高（24.9% vs -92.1%，领先117.0%）。佳明同比增速更快（16.6% vs -20.8%）。佳明自由现金流更多（$429.6M vs $-22.9M）。过去两年佳明的营收复合增速更高（24.0% vs -23.1%）
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
Intuitive Machines是一家总部位于美国得克萨斯州休斯敦的航天探索企业，由斯蒂芬·阿尔特穆斯、卡姆·加法里安和蒂姆·克莱因于2013年创立，主营业务为商业及政府部门提供月球探索相关服务，目前可提供月球表面运输与载荷投递、数据传输服务以及基础设施即服务，还持有NASA商业月球载荷服务项目下的三项合同。
GRMN vs LUNR — 直观对比
营收规模更大
GRMN
是对方的49.1倍
$43.3M
营收增速更快
GRMN
高出37.4%
-20.8%
净利率更高
GRMN
高出117.0%
-92.1%
自由现金流更多
GRMN
多$452.6M
$-22.9M
两年增速更快
GRMN
近两年复合增速
-23.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $43.3M |
| 净利润 | $528.7M | $-39.9M |
| 毛利率 | 59.2% | — |
| 营业利润率 | 28.9% | -76.4% |
| 净利率 | 24.9% | -92.1% |
| 营收同比 | 16.6% | -20.8% |
| 净利润同比 | 21.3% | 73.3% |
| 每股收益（稀释后） | $2.72 | $-0.34 |
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GRMNLUNR
| Q4 25 | $2.1B | $43.3M | ||
| Q3 25 | $1.8B | $51.0M | ||
| Q2 25 | $1.8B | $50.3M | ||
| Q1 25 | $1.5B | $62.5M | ||
| Q4 24 | $1.8B | $54.7M | ||
| Q3 24 | $1.6B | $58.5M | ||
| Q2 24 | $1.5B | $41.6M | ||
| Q1 24 | $1.4B | $73.2M |
净利润GRMNLUNR
| Q4 25 | $528.7M | $-39.9M | ||
| Q3 25 | $401.6M | $-6.8M | ||
| Q2 25 | $400.8M | $-25.2M | ||
| Q1 25 | $332.8M | $-11.4M | ||
| Q4 24 | $435.7M | $-149.2M | ||
| Q3 24 | $399.1M | $-55.4M | ||
| Q2 24 | $300.6M | $18.7M | ||
| Q1 24 | $276.0M | $-97.5M |
毛利率GRMNLUNR
| Q4 25 | 59.2% | — | ||
| Q3 25 | 59.1% | — | ||
| Q2 25 | 58.8% | — | ||
| Q1 25 | 57.6% | — | ||
| Q4 24 | 59.3% | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | 57.3% | — | ||
| Q1 24 | 58.1% | — |
营业利润率GRMNLUNR
| Q4 25 | 28.9% | -76.4% | ||
| Q3 25 | 25.8% | -30.2% | ||
| Q2 25 | 26.0% | -56.9% | ||
| Q1 25 | 21.7% | -16.1% | ||
| Q4 24 | 28.3% | -24.5% | ||
| Q3 24 | 27.6% | -23.5% | ||
| Q2 24 | 22.7% | -66.0% | ||
| Q1 24 | 21.6% | -3.8% |
净利率GRMNLUNR
| Q4 25 | 24.9% | -92.1% | ||
| Q3 25 | 22.7% | -13.4% | ||
| Q2 25 | 22.1% | -50.0% | ||
| Q1 25 | 21.7% | -18.2% | ||
| Q4 24 | 23.9% | -272.9% | ||
| Q3 24 | 25.2% | -94.7% | ||
| Q2 24 | 20.0% | 44.8% | ||
| Q1 24 | 20.0% | -133.1% |
每股收益（稀释后）GRMNLUNR
| Q4 25 | $2.72 | $-0.34 | ||
| Q3 25 | $2.08 | $-0.06 | ||
| Q2 25 | $2.07 | $-0.22 | ||
| Q1 25 | $1.72 | $-0.11 | ||
| Q4 24 | $2.24 | $-1.42 | ||
| Q3 24 | $2.07 | $-0.83 | ||
| Q2 24 | $1.56 | $0.30 | ||
| Q1 24 | $1.43 | $-2.68 |
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 | $2.3B | $582.6M |
| 总债务越低越好 | — | $335.3M |
| 股东权益账面价值 | $9.0B | $-755.0M |
| 总资产 | $11.0B | $757.2M |
| 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GRMNLUNR
| Q4 25 | $2.3B | $582.6M | ||
| Q3 25 | $2.1B | $622.0M | ||
| Q2 25 | $2.1B | $344.9M | ||
| Q1 25 | $2.2B | $373.3M | ||
| Q4 24 | $2.1B | $207.6M | ||
| Q3 24 | $2.0B | $89.6M | ||
| Q2 24 | $1.9B | $31.6M | ||
| Q1 24 | $1.9B | $55.2M |
总债务GRMNLUNR
| Q4 25 | — | $335.3M | ||
| Q3 25 | — | $334.8M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GRMNLUNR
| Q4 25 | $9.0B | $-755.0M | ||
| Q3 25 | $8.5B | $-404.2M | ||
| Q2 25 | $8.1B | $-381.2M | ||
| Q1 25 | $8.2B | $-136.9M | ||
| Q4 24 | $7.8B | $-1.0B | ||
| Q3 24 | $7.5B | $-496.8M | ||
| Q2 24 | $7.0B | $-235.0M | ||
| Q1 24 | $7.2B | $-493.6M |
总资产GRMNLUNR
| Q4 25 | $11.0B | $757.2M | ||
| Q3 25 | $10.5B | $753.5M | ||
| Q2 25 | $10.3B | $475.6M | ||
| Q1 25 | $9.8B | $500.0M | ||
| Q4 24 | $9.6B | $355.4M | ||
| Q3 24 | $9.3B | $224.8M | ||
| Q2 24 | $8.9B | $140.1M | ||
| Q1 24 | $8.6B | $170.8M |
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 | $553.8M | $-7.3M |
| 自由现金流经营现金流 - 资本支出 | $429.6M | $-22.9M |
| 自由现金流率自由现金流/营收 | 20.2% | -53.0% |
| 资本支出强度资本支出/营收 | 5.8% | 36.1% |
| 现金转化率经营现金流/净利润 | 1.05× | — |
| 过去12个月自由现金流最近4个季度 | $1.4B | $-56.0M |
8季度趋势，按日历期对齐
经营现金流GRMNLUNR
| Q4 25 | $553.8M | $-7.3M | ||
| Q3 25 | $485.6M | $-7.2M | ||
| Q2 25 | $173.2M | $-19.3M | ||
| Q1 25 | $420.8M | $19.4M | ||
| Q4 24 | $483.9M | $-2.0M | ||
| Q3 24 | $258.0M | $-17.9M | ||
| Q2 24 | $255.3M | $-31.3M | ||
| Q1 24 | $435.3M | $-6.4M |
自由现金流GRMNLUNR
| Q4 25 | $429.6M | $-22.9M | ||
| Q3 25 | $425.1M | $-19.0M | ||
| Q2 25 | $127.5M | $-27.3M | ||
| Q1 25 | $380.7M | $13.3M | ||
| Q4 24 | $399.2M | $-6.9M | ||
| Q3 24 | $219.4M | $-19.3M | ||
| Q2 24 | $218.2M | $-33.5M | ||
| Q1 24 | $402.1M | $-8.0M |
自由现金流率GRMNLUNR
| Q4 25 | 20.2% | -53.0% | ||
| Q3 25 | 24.0% | -37.2% | ||
| Q2 25 | 7.0% | -54.3% | ||
| Q1 25 | 24.8% | 21.3% | ||
| Q4 24 | 21.9% | -12.6% | ||
| Q3 24 | 13.8% | -33.0% | ||
| Q2 24 | 14.5% | -80.4% | ||
| Q1 24 | 29.1% | -11.0% |
资本支出强度GRMNLUNR
| Q4 25 | 5.8% | 36.1% | ||
| Q3 25 | 3.4% | 23.2% | ||
| Q2 25 | 2.5% | 16.0% | ||
| Q1 25 | 2.6% | 9.8% | ||
| Q4 24 | 4.6% | 9.0% | ||
| Q3 24 | 2.4% | 2.4% | ||
| Q2 24 | 2.5% | 5.3% | ||
| Q1 24 | 2.4% | 2.2% |
现金转化率GRMNLUNR
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.11× | — | ||
| Q3 24 | 0.65× | — | ||
| Q2 24 | 0.85× | -1.67× | ||
| Q1 24 | 1.58× | — |
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
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
LUNR
暂无分部数据
