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铱星通信（IRDM）与温德姆酒店及度假村集团（WH）财务数据对比。点击上方公司名可切换其他公司
温德姆酒店及度假村集团的季度营收约是铱星通信的1.5倍（$334.0M vs $219.1M），铱星通信净利率更高（9.9% vs -18.0%，领先27.8%），铱星通信同比增速更快（1.9% vs -76.3%），过去两年铱星通信的营收复合增速更高（4.4% vs -4.6%）
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。
温德姆酒店及度假村集团是总部位于美国新泽西州帕西帕尼的酒店企业，自称是全球规模最大的酒店特许经营商，在全球范围内共设有9100家门店，旗下拥有多个酒店及度假住宿品牌，服务全球各地的出行旅客。
IRDM vs WH — 直观对比
营收规模更大
WH
是对方的1.5倍
$219.1M
营收增速更快
IRDM
高出78.2%
-76.3%
净利率更高
IRDM
高出27.8%
-18.0%
两年增速更快
IRDM
近两年复合增速
-4.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $219.1M | $334.0M |
| 净利润 | $21.6M | $-60.0M |
| 毛利率 | — | — |
| 营业利润率 | 23.2% | — |
| 净利率 | 9.9% | -18.0% |
| 营收同比 | 1.9% | -76.3% |
| 净利润同比 | — | -170.6% |
| 每股收益（稀释后） | — | $-0.80 |
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IRDMWH
| Q1 26 | $219.1M | $334.0M | ||
| Q4 25 | $212.9M | $334.0M | ||
| Q3 25 | $226.9M | $382.0M | ||
| Q2 25 | $216.9M | $397.0M | ||
| Q1 25 | $214.9M | $316.0M | ||
| Q4 24 | $213.0M | $336.0M | ||
| Q3 24 | $212.8M | $396.0M | ||
| Q2 24 | $201.1M | $367.0M |
净利润IRDMWH
| Q1 26 | $21.6M | $-60.0M | ||
| Q4 25 | $24.9M | $-60.0M | ||
| Q3 25 | $37.1M | $105.0M | ||
| Q2 25 | $22.0M | $87.0M | ||
| Q1 25 | $30.4M | $61.0M | ||
| Q4 24 | $36.3M | $85.0M | ||
| Q3 24 | $24.4M | $102.0M | ||
| Q2 24 | $32.3M | $86.0M |
营业利润率IRDMWH
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | -11.4% | ||
| Q3 25 | 30.9% | 46.6% | ||
| Q2 25 | 23.2% | 37.8% | ||
| Q1 25 | 28.1% | 35.4% | ||
| Q4 24 | 24.5% | 38.4% | ||
| Q3 24 | 25.8% | 43.2% | ||
| Q2 24 | 21.7% | 39.5% |
净利率IRDMWH
| Q1 26 | 9.9% | -18.0% | ||
| Q4 25 | 11.7% | -18.0% | ||
| Q3 25 | 16.4% | 27.5% | ||
| Q2 25 | 10.1% | 21.9% | ||
| Q1 25 | 14.2% | 19.3% | ||
| Q4 24 | 17.1% | 25.3% | ||
| Q3 24 | 11.5% | 25.8% | ||
| Q2 24 | 16.1% | 23.4% |
每股收益（稀释后）IRDMWH
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $0.24 | $-0.77 | ||
| Q3 25 | $0.35 | $1.36 | ||
| Q2 25 | $0.20 | $1.13 | ||
| Q1 25 | $0.27 | $0.78 | ||
| Q4 24 | $0.30 | $1.06 | ||
| Q3 24 | $0.21 | $1.29 | ||
| Q2 24 | $0.27 | $1.07 |
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 | — | $64.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $468.0M |
| 总资产 | — | $4.2B |
| 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IRDMWH
| Q1 26 | — | $64.0M | ||
| Q4 25 | $96.5M | $64.0M | ||
| Q3 25 | $88.5M | $70.0M | ||
| Q2 25 | $79.3M | $50.0M | ||
| Q1 25 | $50.9M | $48.0M | ||
| Q4 24 | $93.5M | $103.0M | ||
| Q3 24 | $159.6M | $72.0M | ||
| Q2 24 | $63.5M | $70.0M |
总债务IRDMWH
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $1.8B | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B |
股东权益IRDMWH
| Q1 26 | — | $468.0M | ||
| Q4 25 | $462.6M | $468.0M | ||
| Q3 25 | $450.5M | $583.0M | ||
| Q2 25 | $473.6M | $570.0M | ||
| Q1 25 | $518.4M | $579.0M | ||
| Q4 24 | $576.6M | $650.0M | ||
| Q3 24 | $663.8M | $583.0M | ||
| Q2 24 | $786.7M | $623.0M |
总资产IRDMWH
| Q1 26 | — | $4.2B | ||
| Q4 25 | $2.5B | $4.2B | ||
| Q3 25 | $2.6B | $4.3B | ||
| Q2 25 | $2.6B | $4.3B | ||
| Q1 25 | $2.6B | $4.2B | ||
| Q4 24 | $2.7B | $4.2B | ||
| Q3 24 | $2.8B | $4.2B | ||
| Q2 24 | $2.7B | $4.2B |
负债/权益比IRDMWH
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | 5.37× | ||
| Q3 25 | — | 4.43× | ||
| Q2 25 | — | 4.44× | ||
| Q1 25 | — | 4.29× | ||
| Q4 24 | 3.05× | 3.72× | ||
| Q3 24 | — | 4.19× | ||
| Q2 24 | — | 3.83× |
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 | — | $367.0M |
| 自由现金流经营现金流 - 资本支出 | — | $168.0M |
| 自由现金流率自由现金流/营收 | — | 50.3% |
| 资本支出强度资本支出/营收 | 13.7% | — |
| 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 | — | $437.0M |
8季度趋势，按日历期对齐
经营现金流IRDMWH
| Q1 26 | — | $367.0M | ||
| Q4 25 | $108.6M | $152.0M | ||
| Q3 25 | $100.8M | $86.0M | ||
| Q2 25 | $129.6M | $70.0M | ||
| Q1 25 | $61.1M | $59.0M | ||
| Q4 24 | $104.8M | $134.0M | ||
| Q3 24 | $118.6M | $79.0M | ||
| Q2 24 | $81.1M | $1.0M |
自由现金流IRDMWH
| Q1 26 | — | $168.0M | ||
| Q4 25 | $75.1M | $136.0M | ||
| Q3 25 | $79.2M | $75.0M | ||
| Q2 25 | $108.9M | $58.0M | ||
| Q1 25 | $36.5M | $52.0M | ||
| Q4 24 | $80.5M | $109.0M | ||
| Q3 24 | $100.0M | $71.0M | ||
| Q2 24 | $68.7M | $-6.0M |
自由现金流率IRDMWH
| Q1 26 | — | 50.3% | ||
| Q4 25 | 35.3% | 40.7% | ||
| Q3 25 | 34.9% | 19.6% | ||
| Q2 25 | 50.2% | 14.6% | ||
| Q1 25 | 17.0% | 16.5% | ||
| Q4 24 | 37.8% | 32.4% | ||
| Q3 24 | 47.0% | 17.9% | ||
| Q2 24 | 34.2% | -1.6% |
资本支出强度IRDMWH
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 4.8% | ||
| Q3 25 | 9.5% | 2.9% | ||
| Q2 25 | 9.5% | 3.0% | ||
| Q1 25 | 11.4% | 2.2% | ||
| Q4 24 | 11.4% | 7.4% | ||
| Q3 24 | 8.7% | 2.0% | ||
| Q2 24 | 6.2% | 1.9% |
现金转化率IRDMWH
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | — | ||
| Q3 25 | 2.71× | 0.82× | ||
| Q2 25 | 5.90× | 0.80× | ||
| Q1 25 | 2.01× | 0.97× | ||
| Q4 24 | 2.88× | 1.58× | ||
| Q3 24 | 4.85× | 0.77× | ||
| Q2 24 | 2.51× | 0.01× |
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% |
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
