vs
铱星通信（IRDM）与MARTIN MIDSTREAM PARTNERS L.P.（MMLP）财务数据对比。点击上方公司名可切换其他公司
铱星通信的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的1.2倍（$219.1M vs $187.7M），铱星通信净利率更高（9.9% vs 1.7%，领先8.2%），铱星通信同比增速更快（1.9% vs -2.5%），过去两年铱星通信的营收复合增速更高（4.4% vs 0.8%）
铱星通信是一家总部位于美国弗吉尼亚州麦克莱恩的上市企业，运营着由80颗卫星组成的铱星星座，其中66颗为工作星，14颗为在轨备用星。其卫星网络支持手持卫星电话、卫星通信终端及集成收发设备实现全球范围的语音和数据传输，还可提供双向卫星消息服务，满足全球各场景的通信需求。
Martin Midstream Partners L.P.是美国中游能源服务提供商，主营原油、天然气液、精炼石油产品及特种化学品的存储、运输、分销与加工服务，主要服务北美能源及工业领域客户。
IRDM vs MMLP — 直观对比
营收规模更大
IRDM
是对方的1.2倍
$187.7M
营收增速更快
IRDM
高出4.5%
-2.5%
净利率更高
IRDM
高出8.2%
1.7%
两年增速更快
IRDM
近两年复合增速
0.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $219.1M | $187.7M |
| 净利润 | $21.6M | $3.2M |
| 毛利率 | — | — |
| 营业利润率 | 23.2% | — |
| 净利率 | 9.9% | 1.7% |
| 营收同比 | 1.9% | -2.5% |
| 净利润同比 | -29.0% | 132.4% |
| 每股收益（稀释后） | — | — |
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IRDMMMLP
| Q1 26 | $219.1M | $187.7M | ||
| Q4 25 | $212.9M | $174.2M | ||
| Q3 25 | $226.9M | $168.7M | ||
| Q2 25 | $216.9M | $180.7M | ||
| Q1 25 | $214.9M | $192.5M | ||
| Q4 24 | $213.0M | $171.3M | ||
| Q3 24 | $212.8M | $170.9M | ||
| Q2 24 | $201.1M | $184.5M |
净利润IRDMMMLP
| Q1 26 | $21.6M | $3.2M | ||
| Q4 25 | $24.9M | $-2.9M | ||
| Q3 25 | $37.1M | $-8.4M | ||
| Q2 25 | $22.0M | $-2.4M | ||
| Q1 25 | $30.4M | $-1.0M | ||
| Q4 24 | $36.3M | $-8.9M | ||
| Q3 24 | $24.4M | $-3.3M | ||
| Q2 24 | $32.3M | $3.8M |
毛利率IRDMMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | 57.1% | ||
| Q3 25 | — | 55.1% | ||
| Q2 25 | — | 56.5% | ||
| Q1 25 | — | 53.5% | ||
| Q4 24 | — | 58.2% | ||
| Q3 24 | — | 58.5% | ||
| Q2 24 | — | 58.4% |
营业利润率IRDMMMLP
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 7.3% | ||
| Q3 25 | 30.9% | 4.1% | ||
| Q2 25 | 23.2% | 8.2% | ||
| Q1 25 | 28.1% | 7.5% | ||
| Q4 24 | 24.5% | 4.0% | ||
| Q3 24 | 25.8% | 7.4% | ||
| Q2 24 | 21.7% | 10.8% |
净利率IRDMMMLP
| Q1 26 | 9.9% | 1.7% | ||
| Q4 25 | 11.7% | -1.7% | ||
| Q3 25 | 16.4% | -5.0% | ||
| Q2 25 | 10.1% | -1.3% | ||
| Q1 25 | 14.2% | -0.5% | ||
| Q4 24 | 17.1% | -5.2% | ||
| Q3 24 | 11.5% | -1.9% | ||
| Q2 24 | 16.1% | 2.0% |
每股收益（稀释后）IRDMMMLP
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.35 | — | ||
| Q2 25 | $0.20 | — | ||
| Q1 25 | $0.27 | — | ||
| Q4 24 | $0.30 | — | ||
| Q3 24 | $0.21 | — | ||
| Q2 24 | $0.27 | — |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | — | $-6.0M |
| 自由现金流率自由现金流/营收 | — | -3.2% |
| 资本支出强度资本支出/营收 | 13.7% | 1.6% |
| 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 | — | $27.2M |
8季度趋势，按日历期对齐
经营现金流IRDMMMLP
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $22.4M | ||
| Q3 25 | $100.8M | $-1.2M | ||
| Q2 25 | $129.6M | $30.9M | ||
| Q1 25 | $61.1M | $-6.0M | ||
| Q4 24 | $104.8M | $42.2M | ||
| Q3 24 | $118.6M | $-15.8M | ||
| Q2 24 | $81.1M | $11.8M |
自由现金流IRDMMMLP
| Q1 26 | — | $-6.0M | ||
| Q4 25 | $75.1M | $15.6M | ||
| Q3 25 | $79.2M | $-7.9M | ||
| Q2 25 | $108.9M | $25.6M | ||
| Q1 25 | $36.5M | $-11.9M | ||
| Q4 24 | $80.5M | $34.2M | ||
| Q3 24 | $100.0M | $-25.6M | ||
| Q2 24 | $68.7M | $-696.0K |
自由现金流率IRDMMMLP
| Q1 26 | — | -3.2% | ||
| Q4 25 | 35.3% | 8.9% | ||
| Q3 25 | 34.9% | -4.7% | ||
| Q2 25 | 50.2% | 14.2% | ||
| Q1 25 | 17.0% | -6.2% | ||
| Q4 24 | 37.8% | 20.0% | ||
| Q3 24 | 47.0% | -15.0% | ||
| Q2 24 | 34.2% | -0.4% |
资本支出强度IRDMMMLP
| Q1 26 | 13.7% | 1.6% | ||
| Q4 25 | 15.7% | 3.9% | ||
| Q3 25 | 9.5% | 4.0% | ||
| Q2 25 | 9.5% | 3.0% | ||
| Q1 25 | 11.4% | 3.1% | ||
| Q4 24 | 11.4% | 4.6% | ||
| Q3 24 | 8.7% | 5.8% | ||
| Q2 24 | 6.2% | 6.8% |
现金转化率IRDMMMLP
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | — | ||
| Q3 25 | 2.71× | — | ||
| Q2 25 | 5.90× | — | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 2.88× | — | ||
| Q3 24 | 4.85× | — | ||
| Q2 24 | 2.51× | 3.13× |
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
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $43.9M | 20% |
| Government | $35.8M | 16% |
| Government service revenue (5) | $26.8M | 12% |
| Subscriber equipment | $23.1M | 11% |
| Hosted payload and other data service (4) | $14.9M | 7% |
| Broadband (3) | $12.9M | 6% |
| Commercial | $1.6M | 1% |
MMLP
| Specialty products | $61.6M | 33% |
| Transportation * | $52.8M | 28% |
| Other | $46.5M | 25% |
| Terminalling and storage * | $22.4M | 12% |
| Sulfur services | $4.4M | 2% |
