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铱星通信（IRDM）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
世纪互联的季度营收约是铱星通信的1.7倍（$362.7M vs $219.1M），铱星通信净利率更高（9.9% vs -10.7%，领先20.5%），过去两年世纪互联的营收复合增速更高（17.4% 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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
IRDM vs VNET — 直观对比
营收规模更大
VNET
是对方的1.7倍
$219.1M
净利率更高
IRDM
高出20.5%
-10.7%
两年增速更快
VNET
近两年复合增速
4.4%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $219.1M | $362.7M |
| 净利润 | $21.6M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 23.2% | 0.5% |
| 净利率 | 9.9% | -10.7% |
| 营收同比 | 1.9% | — |
| 净利润同比 | — | — |
| 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IRDMVNET
| Q1 26 | $219.1M | — | ||
| Q4 25 | $212.9M | — | ||
| Q3 25 | $226.9M | $362.7M | ||
| Q2 25 | $216.9M | — | ||
| Q1 25 | $214.9M | $309.5M | ||
| Q4 24 | $213.0M | — | ||
| Q3 24 | $212.8M | $302.2M | ||
| Q2 24 | $201.1M | $274.4M |
净利润IRDMVNET
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | — | ||
| Q3 25 | $37.1M | $-38.7M | ||
| Q2 25 | $22.0M | — | ||
| Q1 25 | $30.4M | $-2.4M | ||
| Q4 24 | $36.3M | — | ||
| Q3 24 | $24.4M | $-2.1M | ||
| Q2 24 | $32.3M | $-1.1M |
毛利率IRDMVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% |
营业利润率IRDMVNET
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | — | ||
| Q3 25 | 30.9% | 0.5% | ||
| Q2 25 | 23.2% | — | ||
| Q1 25 | 28.1% | 0.1% | ||
| Q4 24 | 24.5% | — | ||
| Q3 24 | 25.8% | 24.5% | ||
| Q2 24 | 21.7% | 0.2% |
净利率IRDMVNET
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | — | ||
| Q3 25 | 16.4% | -10.7% | ||
| Q2 25 | 10.1% | — | ||
| Q1 25 | 14.2% | -0.8% | ||
| Q4 24 | 17.1% | — | ||
| Q3 24 | 11.5% | -0.7% | ||
| Q2 24 | 16.1% | -0.4% |
每股收益（稀释后）IRDMVNET
| 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 | — |
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 | — | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $890.8M |
| 总资产 | — | $6.1B |
| 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IRDMVNET
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | — | ||
| Q3 25 | $88.5M | $492.1M | ||
| Q2 25 | $79.3M | — | ||
| Q1 25 | $50.9M | $544.3M | ||
| Q4 24 | $93.5M | — | ||
| Q3 24 | $159.6M | $219.5M | ||
| Q2 24 | $63.5M | $247.2M |
总债务IRDMVNET
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — |
股东权益IRDMVNET
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | — | ||
| Q3 25 | $450.5M | $890.8M | ||
| Q2 25 | $473.6M | — | ||
| Q1 25 | $518.4M | $927.8M | ||
| Q4 24 | $576.6M | — | ||
| Q3 24 | $663.8M | $902.9M | ||
| Q2 24 | $786.7M | $900.6M |
总资产IRDMVNET
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | $6.1B | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.6B | $5.4B | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.8B | $4.3B | ||
| Q2 24 | $2.7B | $4.0B |
负债/权益比IRDMVNET
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — |
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 | — | $113.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-193.1M |
| 自由现金流率自由现金流/营收 | — | -53.2% |
| 资本支出强度资本支出/营收 | 13.7% | 84.6% |
| 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 | — | $-589.7M |
8季度趋势，按日历期对齐
经营现金流IRDMVNET
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | — | ||
| Q3 25 | $100.8M | $113.8M | ||
| Q2 25 | $129.6M | — | ||
| Q1 25 | $61.1M | $27.0M | ||
| Q4 24 | $104.8M | — | ||
| Q3 24 | $118.6M | $108.3M | ||
| Q2 24 | $81.1M | $55.8M |
自由现金流IRDMVNET
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | — | ||
| Q3 25 | $79.2M | $-193.1M | ||
| Q2 25 | $108.9M | — | ||
| Q1 25 | $36.5M | $-220.0M | ||
| Q4 24 | $80.5M | — | ||
| Q3 24 | $100.0M | $-95.0M | ||
| Q2 24 | $68.7M | $-81.6M |
自由现金流率IRDMVNET
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | — | ||
| Q3 25 | 34.9% | -53.2% | ||
| Q2 25 | 50.2% | — | ||
| Q1 25 | 17.0% | -71.1% | ||
| Q4 24 | 37.8% | — | ||
| Q3 24 | 47.0% | -31.4% | ||
| Q2 24 | 34.2% | -29.8% |
资本支出强度IRDMVNET
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | — | ||
| Q3 25 | 9.5% | 84.6% | ||
| Q2 25 | 9.5% | — | ||
| Q1 25 | 11.4% | 79.8% | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 8.7% | 67.3% | ||
| Q2 24 | 6.2% | 50.1% |
现金转化率IRDMVNET
| 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) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 1% |
VNET
暂无分部数据
