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Installed Building Products, Inc.（IBP）与朗美通（LITE）财务数据对比。点击上方公司名可切换其他公司
Installed Building Products, Inc.的季度营收约是朗美通的1.1倍（$747.5M vs $665.5M），朗美通净利率更高（11.8% vs 10.2%，领先1.5%），朗美通同比增速更快（65.5% vs -0.4%），Installed Building Products, Inc.自由现金流更多（$49.3M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs 3.9%）
Installed Building Products, Inc.是美国领先的建筑产品安装服务商，主营绝缘材料、排水沟、车库门、消防系统及窗帘等产品的专业安装服务，覆盖住宅新建、翻新改造及商业建筑三大领域，业务遍及美国大部分地区。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
IBP vs LITE — 直观对比
营收规模更大
IBP
是对方的1.1倍
$665.5M
营收增速更快
LITE
高出65.8%
-0.4%
净利率更高
LITE
高出1.5%
10.2%
自由现金流更多
IBP
多$6.2M
$43.1M
两年增速更快
LITE
近两年复合增速
3.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $747.5M | $665.5M |
| 净利润 | $76.6M | $78.2M |
| 毛利率 | 35.0% | 36.1% |
| 营业利润率 | 14.6% | 9.7% |
| 净利率 | 10.2% | 11.8% |
| 营收同比 | -0.4% | 65.5% |
| 净利润同比 | 14.5% | 228.4% |
| 每股收益（稀释后） | $2.81 | $0.89 |
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IBPLITE
| Q4 25 | $747.5M | $665.5M | ||
| Q3 25 | $778.2M | $533.8M | ||
| Q2 25 | $760.3M | $480.7M | ||
| Q1 25 | $684.8M | $425.2M | ||
| Q4 24 | $750.2M | $402.2M | ||
| Q3 24 | $760.6M | $336.9M | ||
| Q2 24 | $737.6M | $308.3M | ||
| Q1 24 | $692.9M | $366.5M |
净利润IBPLITE
| Q4 25 | $76.6M | $78.2M | ||
| Q3 25 | $74.4M | $4.2M | ||
| Q2 25 | $69.0M | $213.3M | ||
| Q1 25 | $45.4M | $-44.1M | ||
| Q4 24 | $66.9M | $-60.9M | ||
| Q3 24 | $68.6M | $-82.4M | ||
| Q2 24 | $65.2M | $-252.5M | ||
| Q1 24 | $55.9M | $-127.0M |
毛利率IBPLITE
| Q4 25 | 35.0% | 36.1% | ||
| Q3 25 | 34.0% | 34.0% | ||
| Q2 25 | 34.2% | 33.3% | ||
| Q1 25 | 32.7% | 28.8% | ||
| Q4 24 | 33.6% | 24.8% | ||
| Q3 24 | 33.8% | 23.1% | ||
| Q2 24 | 34.1% | 16.6% | ||
| Q1 24 | 33.8% | 16.2% |
营业利润率IBPLITE
| Q4 25 | 14.6% | 9.7% | ||
| Q3 25 | 13.7% | 1.3% | ||
| Q2 25 | 13.3% | -1.7% | ||
| Q1 25 | 10.2% | -8.9% | ||
| Q4 24 | 13.1% | -12.8% | ||
| Q3 24 | 13.3% | -24.5% | ||
| Q2 24 | 12.9% | -43.3% | ||
| Q1 24 | 12.7% | -31.3% |
净利率IBPLITE
| Q4 25 | 10.2% | 11.8% | ||
| Q3 25 | 9.6% | 0.8% | ||
| Q2 25 | 9.1% | 44.4% | ||
| Q1 25 | 6.6% | -10.4% | ||
| Q4 24 | 8.9% | -15.1% | ||
| Q3 24 | 9.0% | -24.5% | ||
| Q2 24 | 8.8% | -81.9% | ||
| Q1 24 | 8.1% | -34.7% |
每股收益（稀释后）IBPLITE
| Q4 25 | $2.81 | $0.89 | ||
| Q3 25 | $2.74 | $0.05 | ||
| Q2 25 | $2.52 | $3.10 | ||
| Q1 25 | $1.64 | $-0.64 | ||
| Q4 24 | $2.39 | $-0.88 | ||
| Q3 24 | $2.44 | $-1.21 | ||
| Q2 24 | $2.30 | $-3.75 | ||
| Q1 24 | $1.97 | $-1.88 |
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 | $321.9M | $1.2B |
| 总债务越低越好 | $886.6M | — |
| 股东权益账面价值 | $709.9M | $846.6M |
| 总资产 | $2.1B | $4.8B |
| 负债/权益比越低杠杆越低 | 1.25× | — |
8季度趋势，按日历期对齐
现金及短期投资IBPLITE
| Q4 25 | $321.9M | $1.2B | ||
| Q3 25 | $333.3M | $1.1B | ||
| Q2 25 | $305.2M | $877.1M | ||
| Q1 25 | $298.7M | $866.7M | ||
| Q4 24 | $327.6M | $896.7M | ||
| Q3 24 | $406.2M | $916.1M | ||
| Q2 24 | $380.3M | $887.0M | ||
| Q1 24 | $399.9M | $870.9M |
总债务IBPLITE
| Q4 25 | $886.6M | — | ||
| Q3 25 | $880.8M | — | ||
| Q2 25 | $876.1M | — | ||
| Q1 25 | $872.4M | — | ||
| Q4 24 | $874.8M | — | ||
| Q3 24 | $872.3M | — | ||
| Q2 24 | $875.8M | — | ||
| Q1 24 | $875.0M | — |
股东权益IBPLITE
| Q4 25 | $709.9M | $846.6M | ||
| Q3 25 | $678.6M | $780.8M | ||
| Q2 25 | $664.5M | $1.1B | ||
| Q1 25 | $660.9M | $879.5M | ||
| Q4 24 | $705.3M | $872.3M | ||
| Q3 24 | $716.4M | $895.9M | ||
| Q2 24 | $685.3M | $957.3M | ||
| Q1 24 | $679.2M | $1.2B |
总资产IBPLITE
| Q4 25 | $2.1B | $4.8B | ||
| Q3 25 | $2.1B | $4.6B | ||
| Q2 25 | $2.0B | $4.2B | ||
| Q1 25 | $2.0B | $4.0B | ||
| Q4 24 | $2.1B | $4.0B | ||
| Q3 24 | $2.1B | $4.0B | ||
| Q2 24 | $2.0B | $3.9B | ||
| Q1 24 | $2.0B | $4.2B |
负债/权益比IBPLITE
| Q4 25 | 1.25× | — | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.32× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 1.24× | — | ||
| Q3 24 | 1.22× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.29× | — |
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 | $64.9M | $126.7M |
| 自由现金流经营现金流 - 资本支出 | $49.3M | $43.1M |
| 自由现金流率自由现金流/营收 | 6.6% | 6.5% |
| 资本支出强度资本支出/营收 | 2.1% | 12.6% |
| 现金转化率经营现金流/净利润 | 0.85× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $300.8M | $-29.5M |
8季度趋势，按日历期对齐
经营现金流IBPLITE
| Q4 25 | $64.9M | $126.7M | ||
| Q3 25 | $124.0M | $57.9M | ||
| Q2 25 | $90.4M | $64.0M | ||
| Q1 25 | $92.1M | $-1.6M | ||
| Q4 24 | $74.8M | $24.3M | ||
| Q3 24 | $101.4M | $39.6M | ||
| Q2 24 | $79.0M | $35.5M | ||
| Q1 24 | $84.8M | $-7.0M |
自由现金流IBPLITE
| Q4 25 | $49.3M | $43.1M | ||
| Q3 25 | $104.8M | $-18.3M | ||
| Q2 25 | $74.8M | $10.1M | ||
| Q1 25 | $71.9M | $-64.4M | ||
| Q4 24 | $52.9M | $-15.9M | ||
| Q3 24 | $77.3M | $-34.5M | ||
| Q2 24 | $58.2M | $10.9M | ||
| Q1 24 | $63.0M | $-26.6M |
自由现金流率IBPLITE
| Q4 25 | 6.6% | 6.5% | ||
| Q3 25 | 13.5% | -3.4% | ||
| Q2 25 | 9.8% | 2.1% | ||
| Q1 25 | 10.5% | -15.1% | ||
| Q4 24 | 7.1% | -4.0% | ||
| Q3 24 | 10.2% | -10.2% | ||
| Q2 24 | 7.9% | 3.5% | ||
| Q1 24 | 9.1% | -7.3% |
资本支出强度IBPLITE
| Q4 25 | 2.1% | 12.6% | ||
| Q3 25 | 2.5% | 14.3% | ||
| Q2 25 | 2.1% | 11.2% | ||
| Q1 25 | 2.9% | 14.8% | ||
| Q4 24 | 2.9% | 10.0% | ||
| Q3 24 | 3.2% | 22.0% | ||
| Q2 24 | 2.8% | 8.0% | ||
| Q1 24 | 3.1% | 5.3% |
现金转化率IBPLITE
| Q4 25 | 0.85× | 1.62× | ||
| Q3 25 | 1.67× | 13.79× | ||
| Q2 25 | 1.31× | 0.30× | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | 1.12× | — | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 1.21× | — | ||
| Q1 24 | 1.52× | — |
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
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
