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铱星通信（IRDM）与Rocket Lab Corp（RKLB）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Rocket Lab Corp的1.2倍（$219.1M vs $179.7M），铱星通信净利率更高（9.9% vs -29.5%，领先39.3%），Rocket Lab Corp同比增速更快（35.7% vs 1.9%），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 4.4%）
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。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
IRDM vs RKLB — 直观对比
营收规模更大
IRDM
是对方的1.2倍
$179.7M
营收增速更快
RKLB
高出33.8%
1.9%
净利率更高
IRDM
高出39.3%
-29.5%
两年增速更快
RKLB
近两年复合增速
4.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $219.1M | $179.7M |
| 净利润 | $21.6M | $-52.9M |
| 毛利率 | — | 38.0% |
| 营业利润率 | 23.2% | -28.4% |
| 净利率 | 9.9% | -29.5% |
| 营收同比 | 1.9% | 35.7% |
| 净利润同比 | -29.0% | -1.1% |
| 每股收益（稀释后） | — | $-0.09 |
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IRDMRKLB
| Q1 26 | $219.1M | — | ||
| Q4 25 | $212.9M | $179.7M | ||
| Q3 25 | $226.9M | $155.1M | ||
| Q2 25 | $216.9M | $144.5M | ||
| Q1 25 | $214.9M | $122.6M | ||
| Q4 24 | $213.0M | $132.4M | ||
| Q3 24 | $212.8M | $104.8M | ||
| Q2 24 | $201.1M | $106.3M |
净利润IRDMRKLB
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $-52.9M | ||
| Q3 25 | $37.1M | $-18.3M | ||
| Q2 25 | $22.0M | $-66.4M | ||
| Q1 25 | $30.4M | $-60.6M | ||
| Q4 24 | $36.3M | $-52.3M | ||
| Q3 24 | $24.4M | $-51.9M | ||
| Q2 24 | $32.3M | $-41.6M |
毛利率IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | — | 38.0% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 32.1% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | — | 26.7% | ||
| Q2 24 | — | 25.6% |
营业利润率IRDMRKLB
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | -28.4% | ||
| Q3 25 | 30.9% | -38.0% | ||
| Q2 25 | 23.2% | -41.3% | ||
| Q1 25 | 28.1% | -48.3% | ||
| Q4 24 | 24.5% | -38.9% | ||
| Q3 24 | 25.8% | -49.5% | ||
| Q2 24 | 21.7% | -40.7% |
净利率IRDMRKLB
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | -29.5% | ||
| Q3 25 | 16.4% | -11.8% | ||
| Q2 25 | 10.1% | -46.0% | ||
| Q1 25 | 14.2% | -49.5% | ||
| Q4 24 | 17.1% | -39.5% | ||
| Q3 24 | 11.5% | -49.6% | ||
| Q2 24 | 16.1% | -39.2% |
每股收益（稀释后）IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $-0.09 | ||
| Q3 25 | $0.35 | $-0.03 | ||
| Q2 25 | $0.20 | $-0.13 | ||
| Q1 25 | $0.27 | $-0.12 | ||
| Q4 24 | $0.30 | $-0.11 | ||
| Q3 24 | $0.21 | $-0.10 | ||
| Q2 24 | $0.27 | $-0.08 |
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 | — | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | — | $1.7B |
| 总资产 | — | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $1.0B | ||
| Q3 25 | $88.5M | $976.7M | ||
| Q2 25 | $79.3M | $688.1M | ||
| Q1 25 | $50.9M | $428.4M | ||
| Q4 24 | $93.5M | $419.0M | ||
| Q3 24 | $159.6M | $442.4M | ||
| Q2 24 | $63.5M | $496.8M |
总债务IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | $1.8B | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M |
股东权益IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $1.7B | ||
| Q3 25 | $450.5M | $1.3B | ||
| Q2 25 | $473.6M | $688.5M | ||
| Q1 25 | $518.4M | $431.3M | ||
| Q4 24 | $576.6M | $382.5M | ||
| Q3 24 | $663.8M | $419.8M | ||
| Q2 24 | $786.7M | $455.2M |
总资产IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $2.3B | ||
| Q3 25 | $2.6B | $2.2B | ||
| Q2 25 | $2.6B | $1.6B | ||
| Q1 25 | $2.6B | $1.3B | ||
| Q4 24 | $2.7B | $1.2B | ||
| Q3 24 | $2.8B | $1.2B | ||
| Q2 24 | $2.7B | $1.2B |
负债/权益比IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | 3.05× | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× |
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 | — | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | — | $-114.2M |
| 自由现金流率自由现金流/营收 | — | -63.6% |
| 资本支出强度资本支出/营收 | 13.7% | 27.6% |
| 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 | — | $-321.8M |
8季度趋势，按日历期对齐
经营现金流IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $-64.5M | ||
| Q3 25 | $100.8M | $-23.5M | ||
| Q2 25 | $129.6M | $-23.2M | ||
| Q1 25 | $61.1M | $-54.2M | ||
| Q4 24 | $104.8M | $-2.4M | ||
| Q3 24 | $118.6M | $-30.9M | ||
| Q2 24 | $81.1M | $-13.0M |
自由现金流IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $-114.2M | ||
| Q3 25 | $79.2M | $-69.4M | ||
| Q2 25 | $108.9M | $-55.3M | ||
| Q1 25 | $36.5M | $-82.9M | ||
| Q4 24 | $80.5M | $-23.9M | ||
| Q3 24 | $100.0M | $-41.9M | ||
| Q2 24 | $68.7M | $-28.3M |
自由现金流率IRDMRKLB
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | -63.6% | ||
| Q3 25 | 34.9% | -44.8% | ||
| Q2 25 | 50.2% | -38.3% | ||
| Q1 25 | 17.0% | -67.6% | ||
| Q4 24 | 37.8% | -18.1% | ||
| Q3 24 | 47.0% | -40.0% | ||
| Q2 24 | 34.2% | -26.7% |
资本支出强度IRDMRKLB
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 27.6% | ||
| Q3 25 | 9.5% | 29.6% | ||
| Q2 25 | 9.5% | 22.2% | ||
| Q1 25 | 11.4% | 23.4% | ||
| Q4 24 | 11.4% | 16.3% | ||
| Q3 24 | 8.7% | 10.5% | ||
| Q2 24 | 6.2% | 14.4% |
现金转化率IRDMRKLB
| 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× | — |
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% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
