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Globalstar, Inc.（GSAT）与LandBridge Co LLC（LB）财务数据对比。点击上方公司名可切换其他公司
Globalstar, Inc.的季度营收约是LandBridge Co LLC的1.4倍（$72.0M vs $51.0M），LandBridge Co LLC净利率更高（35.0% vs -16.1%，领先51.2%），Globalstar, Inc.同比增速更快（17.6% vs 16.0%），过去两年LandBridge Co LLC的营收复合增速更高（40.2% vs 12.9%）
Globalstar Inc.是一家美国电信企业，运营近地轨道卫星星座，可提供卫星电话、低速数据传输及对地观测服务，其第二代卫星星座由25颗卫星组成，相关服务可覆盖全球大部分区域的通信及遥感需求。
GSAT vs LB — 直观对比
营收规模更大
GSAT
是对方的1.4倍
$51.0M
营收增速更快
GSAT
高出1.6%
16.0%
净利率更高
LB
高出51.2%
-16.1%
两年增速更快
LB
近两年复合增速
12.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $72.0M | $51.0M |
| 净利润 | $-11.6M | $17.9M |
| 毛利率 | — | — |
| 营业利润率 | -0.5% | 57.2% |
| 净利率 | -16.1% | 35.0% |
| 营收同比 | 17.6% | 16.0% |
| 净利润同比 | 76.9% | 15.6% |
| 每股收益（稀释后） | $-0.11 | — |
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GSATLB
| Q1 26 | — | $51.0M | ||
| Q4 25 | $72.0M | $56.8M | ||
| Q3 25 | $73.8M | $50.8M | ||
| Q2 25 | $67.1M | $47.5M | ||
| Q1 25 | $60.0M | $44.0M | ||
| Q4 24 | $61.2M | $36.5M | ||
| Q3 24 | $72.3M | $28.5M | ||
| Q2 24 | $60.4M | $26.0M |
净利润GSATLB
| Q1 26 | — | $17.9M | ||
| Q4 25 | $-11.6M | $8.1M | ||
| Q3 25 | $1.1M | $8.1M | ||
| Q2 25 | $19.2M | $7.5M | ||
| Q1 25 | $-17.3M | $6.5M | ||
| Q4 24 | $-50.2M | $49.3M | ||
| Q3 24 | $9.9M | $2.7M | ||
| Q2 24 | $-9.7M | $-57.7M |
营业利润率GSATLB
| Q1 26 | — | 57.2% | ||
| Q4 25 | -0.5% | 60.0% | ||
| Q3 25 | 13.8% | 60.8% | ||
| Q2 25 | 9.2% | 60.0% | ||
| Q1 25 | -14.2% | 57.0% | ||
| Q4 24 | -6.9% | 49.4% | ||
| Q3 24 | 13.0% | 11.2% | ||
| Q2 24 | -2.4% | -197.4% |
净利率GSATLB
| Q1 26 | — | 35.0% | ||
| Q4 25 | -16.1% | 14.2% | ||
| Q3 25 | 1.5% | 15.9% | ||
| Q2 25 | 28.6% | 15.8% | ||
| Q1 25 | -28.9% | 14.7% | ||
| Q4 24 | -82.1% | 135.2% | ||
| Q3 24 | 13.7% | 9.3% | ||
| Q2 24 | -16.0% | -222.1% |
每股收益（稀释后）GSATLB
| Q1 26 | — | — | ||
| Q4 25 | $-0.11 | $0.24 | ||
| Q3 25 | $-0.01 | $0.26 | ||
| Q2 25 | $0.13 | $0.24 | ||
| Q1 25 | $-0.16 | $0.20 | ||
| Q4 24 | $-0.57 | — | ||
| Q3 24 | $0.00 | $-0.04 | ||
| Q2 24 | $-0.01 | — |
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 | $447.5M | $29.7M |
| 总债务越低越好 | $483.8M | $433.0K |
| 股东权益账面价值 | $355.7M | — |
| 总资产 | $2.3B | $1.4B |
| 负债/权益比越低杠杆越低 | 1.36× | — |
8季度趋势，按日历期对齐
现金及短期投资GSATLB
| Q1 26 | — | $29.7M | ||
| Q4 25 | $447.5M | $30.7M | ||
| Q3 25 | $346.3M | $28.3M | ||
| Q2 25 | $308.2M | $20.3M | ||
| Q1 25 | $241.4M | $14.9M | ||
| Q4 24 | $391.2M | $37.0M | ||
| Q3 24 | $51.9M | $14.4M | ||
| Q2 24 | $64.3M | $24.6M |
总债务GSATLB
| Q1 26 | — | $433.0K | ||
| Q4 25 | $483.8M | $570.7M | ||
| Q3 25 | $508.6M | $366.1M | ||
| Q2 25 | $491.5M | $370.9M | ||
| Q1 25 | $502.7M | $375.5M | ||
| Q4 24 | $511.4M | $385.5M | ||
| Q3 24 | $394.4M | $242.4M | ||
| Q2 24 | $393.1M | $360.8M |
股东权益GSATLB
| Q1 26 | — | — | ||
| Q4 25 | $355.7M | $340.3M | ||
| Q3 25 | $364.8M | $272.0M | ||
| Q2 25 | $360.9M | $266.4M | ||
| Q1 25 | $344.3M | $217.0M | ||
| Q4 24 | $358.9M | $211.8M | ||
| Q3 24 | $394.1M | $97.2M | ||
| Q2 24 | $383.0M | $296.4M |
总资产GSATLB
| Q1 26 | — | $1.4B | ||
| Q4 25 | $2.3B | $1.4B | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $1.9B | $1.1B | ||
| Q1 25 | $1.7B | $1.0B | ||
| Q4 24 | $1.7B | $1.0B | ||
| Q3 24 | $917.6M | $689.9M | ||
| Q2 24 | $926.2M | $710.5M |
负债/权益比GSATLB
| Q1 26 | — | — | ||
| Q4 25 | 1.36× | 1.68× | ||
| Q3 25 | 1.39× | 1.35× | ||
| Q2 25 | 1.36× | 1.39× | ||
| Q1 25 | 1.46× | 1.73× | ||
| Q4 24 | 1.43× | 1.82× | ||
| Q3 24 | 1.00× | 2.49× | ||
| Q2 24 | 1.03× | 1.22× |
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 | $175.9M | $41.1M |
| 自由现金流经营现金流 - 资本支出 | — | $40.9M |
| 自由现金流率自由现金流/营收 | — | 80.3% |
| 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 | — | 2.30× |
| 过去12个月自由现金流最近4个季度 | — | $232.8M |
8季度趋势，按日历期对齐
经营现金流GSATLB
| Q1 26 | — | $41.1M | ||
| Q4 25 | $175.9M | $126.3M | ||
| Q3 25 | $236.0M | $34.9M | ||
| Q2 25 | $157.9M | $37.3M | ||
| Q1 25 | $51.9M | $15.9M | ||
| Q4 24 | $340.7M | $67.6M | ||
| Q3 24 | $32.0M | $7.5M | ||
| Q2 24 | $36.7M | $16.0M |
自由现金流GSATLB
| Q1 26 | — | $40.9M | ||
| Q4 25 | — | $122.0M | ||
| Q3 25 | — | $33.7M | ||
| Q2 25 | — | $36.1M | ||
| Q1 25 | — | $15.8M | ||
| Q4 24 | — | $66.7M | ||
| Q3 24 | — | $7.1M | ||
| Q2 24 | — | $15.7M |
自由现金流率GSATLB
| Q1 26 | — | 80.3% | ||
| Q4 25 | — | 214.9% | ||
| Q3 25 | — | 66.3% | ||
| Q2 25 | — | 75.9% | ||
| Q1 25 | — | 36.0% | ||
| Q4 24 | — | 182.6% | ||
| Q3 24 | — | 25.1% | ||
| Q2 24 | — | 60.4% |
资本支出强度GSATLB
| Q1 26 | — | — | ||
| Q4 25 | — | 7.5% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.4% |
现金转化率GSATLB
| Q1 26 | — | 2.30× | ||
| Q4 25 | — | 15.68× | ||
| Q3 25 | 216.53× | 4.31× | ||
| Q2 25 | 8.22× | 4.98× | ||
| Q1 25 | — | 2.46× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | 3.23× | 2.80× | ||
| Q2 24 | — | — |
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
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
LB
| Other | $14.2M | 28% |
| Easements and other surface-related revenues | $11.6M | 23% |
| Surface use royalties - related party | $11.0M | 22% |
| Resource sales | $5.2M | 10% |
| Resource royalties | $4.3M | 8% |
| Easements and other surface-related revenues - related party | $3.2M | 6% |
| Resource royalties - related party | $1.3M | 2% |
| Resource sales - related party | $205.0K | 0% |
