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NLIGHT, INC.（LASR）与Proto Labs Inc（PRLB）财务数据对比。点击上方公司名可切换其他公司
Proto Labs Inc的季度营收约是NLIGHT, INC.的1.7倍（$139.3M vs $81.2M），Proto Labs Inc净利率更高（5.8% vs -6.0%，领先11.9%），NLIGHT, INC.同比增速更快（71.3% vs 10.4%），过去两年NLIGHT, INC.的营收复合增速更高（35.0% vs 5.3%）
nLight Inc.是全球领先的高性能半导体激光器、光纤激光器及相关光学组件研发生产商，产品广泛应用于工业精密制造、航空航天与国防、医疗设备、前沿研究等核心领域，客户遍及北美、欧洲及亚太地区。
Proto Labs是一家提供快速制造服务的企业，可通过3D打印、CNC加工、钣金加工以及注塑成型工艺，为客户生产用于原型制作和量产的定制零部件，产品广泛应用于医疗设备、航空航天、电子、家电、汽车、消费品等多个领域，公司总部位于美国明尼苏达州，在美国多地设有生产基地。
LASR vs PRLB — 直观对比
营收规模更大
PRLB
是对方的1.7倍
$81.2M
营收增速更快
LASR
高出60.9%
10.4%
净利率更高
PRLB
高出11.9%
-6.0%
两年增速更快
LASR
近两年复合增速
5.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $81.2M | $139.3M |
| 净利润 | $-4.9M | $8.1M |
| 毛利率 | 30.7% | 45.6% |
| 营业利润率 | -6.7% | 7.1% |
| 净利率 | -6.0% | 5.8% |
| 营收同比 | 71.3% | 10.4% |
| 净利润同比 | 80.3% | 125.4% |
| 每股收益（稀释后） | $-0.10 | $0.29 |
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LASRPRLB
| Q1 26 | — | $139.3M | ||
| Q4 25 | $81.2M | $136.5M | ||
| Q3 25 | $66.7M | $135.4M | ||
| Q2 25 | $61.7M | $135.1M | ||
| Q1 25 | $51.7M | $126.2M | ||
| Q4 24 | $47.4M | $121.8M | ||
| Q3 24 | $56.1M | $125.6M | ||
| Q2 24 | $50.5M | $125.6M |
净利润LASRPRLB
| Q1 26 | — | $8.1M | ||
| Q4 25 | $-4.9M | — | ||
| Q3 25 | $-6.9M | $7.2M | ||
| Q2 25 | $-3.6M | $4.4M | ||
| Q1 25 | $-8.1M | $3.6M | ||
| Q4 24 | $-25.0M | — | ||
| Q3 24 | $-10.3M | $7.2M | ||
| Q2 24 | $-11.7M | $4.5M |
毛利率LASRPRLB
| Q1 26 | — | 45.6% | ||
| Q4 25 | 30.7% | 44.2% | ||
| Q3 25 | 31.1% | 45.3% | ||
| Q2 25 | 29.9% | 44.3% | ||
| Q1 25 | 26.7% | 44.1% | ||
| Q4 24 | 2.4% | 42.7% | ||
| Q3 24 | 22.4% | 45.6% | ||
| Q2 24 | 23.5% | 45.0% |
营业利润率LASRPRLB
| Q1 26 | — | 7.1% | ||
| Q4 25 | -6.7% | 5.0% | ||
| Q3 25 | -10.9% | 6.5% | ||
| Q2 25 | -6.9% | 3.7% | ||
| Q1 25 | -18.6% | 3.6% | ||
| Q4 24 | -55.8% | -1.2% | ||
| Q3 24 | -21.0% | 6.8% | ||
| Q2 24 | -25.1% | 4.8% |
净利率LASRPRLB
| Q1 26 | — | 5.8% | ||
| Q4 25 | -6.0% | — | ||
| Q3 25 | -10.3% | 5.3% | ||
| Q2 25 | -5.8% | 3.3% | ||
| Q1 25 | -15.7% | 2.9% | ||
| Q4 24 | -52.7% | — | ||
| Q3 24 | -18.4% | 5.7% | ||
| Q2 24 | -23.2% | 3.6% |
每股收益（稀释后）LASRPRLB
| Q1 26 | — | $0.29 | ||
| Q4 25 | $-0.10 | $0.25 | ||
| Q3 25 | $-0.14 | $0.30 | ||
| Q2 25 | $-0.07 | $0.18 | ||
| Q1 25 | $-0.16 | $0.15 | ||
| Q4 24 | $-0.52 | $-0.01 | ||
| Q3 24 | $-0.21 | $0.29 | ||
| Q2 24 | $-0.25 | $0.18 |
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 | $98.7M | $124.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $226.7M | $683.1M |
| 总资产 | $315.2M | $778.6M |
| 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LASRPRLB
| Q1 26 | — | $124.0M | ||
| Q4 25 | $98.7M | $128.1M | ||
| Q3 25 | $81.1M | $119.2M | ||
| Q2 25 | $78.8M | $103.2M | ||
| Q1 25 | $82.2M | $96.8M | ||
| Q4 24 | $65.8M | $103.1M | ||
| Q3 24 | $41.5M | $100.5M | ||
| Q2 24 | $49.4M | $112.9M |
股东权益LASRPRLB
| Q1 26 | — | $683.1M | ||
| Q4 25 | $226.7M | $673.9M | ||
| Q3 25 | $218.5M | $664.7M | ||
| Q2 25 | $216.0M | $664.7M | ||
| Q1 25 | $212.8M | $656.8M | ||
| Q4 24 | $216.4M | $670.2M | ||
| Q3 24 | $235.3M | $680.0M | ||
| Q2 24 | $239.5M | $685.2M |
总资产LASRPRLB
| Q1 26 | — | $778.6M | ||
| Q4 25 | $315.2M | $763.4M | ||
| Q3 25 | $298.7M | $756.9M | ||
| Q2 25 | $295.3M | $743.3M | ||
| Q1 25 | $290.0M | $737.5M | ||
| Q4 24 | $270.2M | $743.5M | ||
| Q3 24 | $291.3M | $753.8M | ||
| Q2 24 | $294.3M | $758.2M |
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 | $17.5M | $17.5M |
| 自由现金流经营现金流 - 资本支出 | $15.9M | — |
| 自由现金流率自由现金流/营收 | 19.6% | — |
| 资本支出强度资本支出/营收 | 2.0% | — |
| 现金转化率经营现金流/净利润 | — | 2.16× |
| 过去12个月自由现金流最近4个季度 | $12.3M | — |
8季度趋势，按日历期对齐
经营现金流LASRPRLB
| Q1 26 | — | $17.5M | ||
| Q4 25 | $17.5M | $16.5M | ||
| Q3 25 | $5.2M | $29.1M | ||
| Q2 25 | $-1.4M | $10.6M | ||
| Q1 25 | $-20.0K | $18.4M | ||
| Q4 24 | $-3.9M | $17.3M | ||
| Q3 24 | $-5.6M | $24.8M | ||
| Q2 24 | $-4.2M | $14.4M |
自由现金流LASRPRLB
| Q1 26 | — | — | ||
| Q4 25 | $15.9M | $8.4M | ||
| Q3 25 | $2.4M | $25.0M | ||
| Q2 25 | $-3.8M | $9.1M | ||
| Q1 25 | $-2.3M | $17.1M | ||
| Q4 24 | $-6.5M | $16.5M | ||
| Q3 24 | $-7.2M | $23.2M | ||
| Q2 24 | $-6.4M | $10.2M |
自由现金流率LASRPRLB
| Q1 26 | — | — | ||
| Q4 25 | 19.6% | 6.2% | ||
| Q3 25 | 3.7% | 18.5% | ||
| Q2 25 | -6.1% | 6.7% | ||
| Q1 25 | -4.5% | 13.6% | ||
| Q4 24 | -13.7% | 13.5% | ||
| Q3 24 | -12.9% | 18.5% | ||
| Q2 24 | -12.6% | 8.2% |
资本支出强度LASRPRLB
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 5.9% | ||
| Q3 25 | 4.2% | 3.0% | ||
| Q2 25 | 3.9% | 1.1% | ||
| Q1 25 | 4.4% | 1.0% | ||
| Q4 24 | 5.5% | 0.7% | ||
| Q3 24 | 2.9% | 1.2% | ||
| Q2 24 | 4.2% | 3.3% |
现金转化率LASRPRLB
| Q1 26 | — | 2.16× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 4.03× | ||
| Q2 25 | — | 2.39× | ||
| Q1 25 | — | 5.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.44× | ||
| Q2 24 | — | 3.18× |
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
LASR
| Aerospaceand Defense | $56.3M | 69% |
| Microfabrication | $14.2M | 18% |
| Industrial | $10.7M | 13% |
PRLB
| CNC Machining | $63.2M | 45% |
| Injection Molding | $51.1M | 37% |
| 3D Printing | $20.5M | 15% |
| Sheet Metal | $4.4M | 3% |
| Other Revenue | $207.0K | 0% |
