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Hut 8 Corp.（HUT）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
Ribbon Communications Inc.的季度营收约是Hut 8 Corp.的1.8倍（$162.6M vs $88.5M），Ribbon Communications Inc.净利率更高（54.8% vs -316.0%，领先370.8%），Hut 8 Corp.同比增速更快（179.2% vs -10.3%），过去两年Hut 8 Corp.的营收复合增速更高（30.8% vs -8.1%）
Tropical Hut是菲律宾水星集团旗下的快餐连锁品牌，是菲律宾历史第七悠久的餐饮连锁品牌，创立时间早于1978年成立的快乐蜂及1981年进入菲律宾市场的麦当劳。
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。
HUT vs RBBN — 直观对比
营收规模更大
RBBN
是对方的1.8倍
$88.5M
营收增速更快
HUT
高出189.5%
-10.3%
净利率更高
RBBN
高出370.8%
-316.0%
两年增速更快
HUT
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $88.5M | $162.6M |
| 净利润 | $-279.7M | $89.1M |
| 毛利率 | 60.4% | 42.9% |
| 营业利润率 | -491.4% | 37.6% |
| 净利率 | -316.0% | 54.8% |
| 营收同比 | 179.2% | -10.3% |
| 净利润同比 | -283.7% | — |
| 每股收益（稀释后） | $-2.45 | $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HUTRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $88.5M | $227.3M | ||
| Q3 25 | $83.5M | $215.4M | ||
| Q2 25 | $41.3M | $220.6M | ||
| Q1 25 | $21.8M | $181.3M | ||
| Q4 24 | $31.7M | $251.4M | ||
| Q3 24 | $43.7M | $210.2M | ||
| Q2 24 | $35.2M | $192.6M |
净利润HUTRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-279.7M | — | ||
| Q3 25 | $50.1M | $-12.1M | ||
| Q2 25 | $137.3M | $-11.1M | ||
| Q1 25 | $-133.9M | $-26.2M | ||
| Q4 24 | $152.2M | — | ||
| Q3 24 | $647.0K | $-13.4M | ||
| Q2 24 | $-71.9M | $-16.8M |
毛利率HUTRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | 60.4% | 53.3% | ||
| Q3 25 | 61.3% | 50.1% | ||
| Q2 25 | 47.3% | 49.6% | ||
| Q1 25 | 14.5% | 45.4% | ||
| Q4 24 | 35.9% | 55.7% | ||
| Q3 24 | 59.9% | 52.1% | ||
| Q2 24 | 41.4% | 50.8% |
营业利润率HUTRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -491.4% | 4.1% | ||
| Q3 25 | 87.0% | 1.3% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | -676.8% | -10.8% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | -3.6% | -0.4% | ||
| Q2 24 | -246.2% | -1.0% |
净利率HUTRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -316.0% | — | ||
| Q3 25 | 60.0% | -5.6% | ||
| Q2 25 | 332.5% | -5.0% | ||
| Q1 25 | -613.7% | -14.5% | ||
| Q4 24 | 480.3% | — | ||
| Q3 24 | 1.5% | -6.4% | ||
| Q2 24 | -204.1% | -8.7% |
每股收益（稀释后）HUTRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-2.45 | $0.50 | ||
| Q3 25 | $0.43 | $-0.07 | ||
| Q2 25 | $1.18 | $-0.06 | ||
| Q1 25 | $-1.30 | $-0.15 | ||
| Q4 24 | $1.41 | $0.05 | ||
| Q3 24 | $0.01 | $-0.08 | ||
| Q2 24 | $-0.78 | $-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 | $44.9M | $67.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $419.1M |
| 总资产 | $2.8B | — |
| 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HUTRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $44.9M | $96.4M | ||
| Q3 25 | $33.5M | $74.8M | ||
| Q2 25 | $216.3M | $60.5M | ||
| Q1 25 | $108.4M | $71.2M | ||
| Q4 24 | $85.0M | $87.8M | ||
| Q3 24 | — | $37.2M | ||
| Q2 24 | — | $64.6M |
总债务HUTRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | $342.1M | ||
| Q3 25 | — | $344.3M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $347.4M | ||
| Q4 24 | $300.6M | $348.3M | ||
| Q3 24 | $297.3M | $349.1M | ||
| Q2 24 | $328.8M | $350.0M |
股东权益HUTRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $1.4B | $449.0M | ||
| Q3 25 | $1.4B | $360.1M | ||
| Q2 25 | $1.3B | $370.4M | ||
| Q1 25 | $960.0M | $381.8M | ||
| Q4 24 | $976.7M | $404.6M | ||
| Q3 24 | $703.9M | $395.5M | ||
| Q2 24 | $660.1M | $405.0M |
总资产HUTRBBN
| Q1 26 | — | — | ||
| Q4 25 | $2.8B | $1.2B | ||
| Q3 25 | $2.7B | $1.1B | ||
| Q2 25 | $2.0B | $1.1B | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $1.1B | $1.1B |
负债/权益比HUTRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | 0.31× | 0.86× | ||
| Q3 24 | 0.42× | 0.88× | ||
| Q2 24 | 0.50× | 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 | $-139.2M | — |
| 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 | — | — |
| 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HUTRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-139.2M | $29.2M | ||
| Q3 25 | $770.0K | $26.5M | ||
| Q2 25 | $-48.8M | $-795.0K | ||
| Q1 25 | $-33.8M | $-3.5M | ||
| Q4 24 | $-68.5M | $61.8M | ||
| Q3 24 | $-4.2M | $-14.8M | ||
| Q2 24 | $-16.4M | $-9.8M |
自由现金流HUTRBBN
| 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HUTRBBN
| 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HUTRBBN
| 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HUTRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | -0.36× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.45× | — | ||
| Q3 24 | -6.49× | — | ||
| 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
HUT
| High Performance Computing Colocation And Cloud | $81.9M | 93% |
| Power | $5.0M | 6% |
| Digital Infrastructure | $1.6M | 2% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
