vs
Liberty Broadband Corp（LBRDA）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
INNOVATE Corp.的季度营收约是Liberty Broadband Corp的1.5倍（$382.7M vs $261.0M），Liberty Broadband Corp净利率更高（146.7% vs -1.9%，领先148.7%），INNOVATE Corp.同比增速更快（61.7% vs 6.1%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% vs 4.3%）
本公司是一家覆盖英、荷、美三地的跨国电信企业，注册地为百慕大，在伦敦、阿姆斯特丹、丹佛设有总部，旗下拥有多家对应司法辖区的运营主体，其中英国主体为公开上市实体，2005年由自由媒体国际业务板块与UnitedGlobalCom合并成立。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
LBRDA vs VATE — 直观对比
营收规模更大
VATE
是对方的1.5倍
$261.0M
营收增速更快
VATE
高出55.7%
6.1%
净利率更高
LBRDA
高出148.7%
-1.9%
两年增速更快
VATE
近两年复合增速
4.3%
损益表 — Q2 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $261.0M | $382.7M |
| 净利润 | $383.0M | $-7.4M |
| 毛利率 | — | 15.4% |
| 营业利润率 | 15.7% | 3.7% |
| 净利率 | 146.7% | -1.9% |
| 营收同比 | 6.1% | 61.7% |
| 净利润同比 | 96.4% | 55.4% |
| 每股收益（稀释后） | $2.68 | $-0.57 |
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LBRDAVATE
| Q4 25 | — | $382.7M | ||
| Q3 25 | — | $347.1M | ||
| Q2 25 | $261.0M | $242.0M | ||
| Q1 25 | $266.0M | $274.2M | ||
| Q4 24 | $263.0M | $236.6M | ||
| Q3 24 | $262.0M | $242.2M | ||
| Q2 24 | $246.0M | $313.1M | ||
| Q1 24 | $245.0M | $315.2M |
净利润LBRDAVATE
| Q4 25 | — | $-7.4M | ||
| Q3 25 | — | $-8.9M | ||
| Q2 25 | $383.0M | $-19.8M | ||
| Q1 25 | $268.0M | $-24.5M | ||
| Q4 24 | $291.0M | $-16.6M | ||
| Q3 24 | $142.0M | $-15.0M | ||
| Q2 24 | $195.0M | $14.4M | ||
| Q1 24 | $241.0M | $-17.4M |
毛利率LBRDAVATE
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 15.4% |
营业利润率LBRDAVATE
| Q4 25 | — | 3.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | 15.7% | 2.0% | ||
| Q1 25 | 16.2% | 1.2% | ||
| Q4 24 | 4.9% | 1.1% | ||
| Q3 24 | 11.5% | 2.4% | ||
| Q2 24 | 8.5% | 9.2% | ||
| Q1 24 | 11.4% | 0.9% |
净利率LBRDAVATE
| Q4 25 | — | -1.9% | ||
| Q3 25 | — | -2.6% | ||
| Q2 25 | 146.7% | -8.2% | ||
| Q1 25 | 100.8% | -8.9% | ||
| Q4 24 | 110.6% | -7.0% | ||
| Q3 24 | 54.2% | -6.2% | ||
| Q2 24 | 79.3% | 4.6% | ||
| Q1 24 | 98.4% | -5.5% |
每股收益（稀释后）LBRDAVATE
| Q4 25 | — | $-0.57 | ||
| Q3 25 | — | $-0.71 | ||
| Q2 25 | $2.68 | $-1.67 | ||
| Q1 25 | $1.87 | $-1.89 | ||
| Q4 24 | $2.04 | $-0.72 | ||
| Q3 24 | $0.99 | $-1.18 | ||
| Q2 24 | $1.36 | $1.03 | ||
| Q1 24 | $1.69 | $-2.21 |
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 | $180.0M | $112.1M |
| 总债务越低越好 | $3.1B | $80.3M |
| 股东权益账面价值 | $10.4B | $-240.1M |
| 总资产 | $16.6B | $950.1M |
| 负债/权益比越低杠杆越低 | 0.30× | — |
8季度趋势，按日历期对齐
现金及短期投资LBRDAVATE
| Q4 25 | — | $112.1M | ||
| Q3 25 | — | $35.5M | ||
| Q2 25 | $180.0M | $33.4M | ||
| Q1 25 | $226.0M | $33.3M | ||
| Q4 24 | $163.0M | $48.8M | ||
| Q3 24 | $168.0M | $51.0M | ||
| Q2 24 | $73.0M | $80.2M | ||
| Q1 24 | $108.0M | $38.4M |
总债务LBRDAVATE
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | $3.1B | $160.1M | ||
| Q1 25 | $3.8B | $139.9M | ||
| Q4 24 | $3.8B | $500.6M | ||
| Q3 24 | $3.7B | $502.4M | ||
| Q2 24 | $3.6B | $638.3M | ||
| Q1 24 | $3.6B | $641.5M |
股东权益LBRDAVATE
| Q4 25 | — | $-240.1M | ||
| Q3 25 | — | $-233.3M | ||
| Q2 25 | $10.4B | $-224.8M | ||
| Q1 25 | $10.1B | $-204.2M | ||
| Q4 24 | $9.8B | $-180.4M | ||
| Q3 24 | $9.5B | $-163.1M | ||
| Q2 24 | $9.3B | $-149.0M | ||
| Q1 24 | $9.1B | $-184.4M |
总资产LBRDAVATE
| Q4 25 | — | $950.1M | ||
| Q3 25 | — | $913.2M | ||
| Q2 25 | $16.6B | $890.9M | ||
| Q1 25 | $17.0B | $868.0M | ||
| Q4 24 | $16.7B | $891.1M | ||
| Q3 24 | $16.3B | $897.2M | ||
| Q2 24 | $16.0B | $898.9M | ||
| Q1 24 | $15.7B | $943.5M |
负债/权益比LBRDAVATE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | 0.38× | — | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 0.39× | — | ||
| Q1 24 | 0.40× | — |
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 | $91.0M | $101.1M |
| 自由现金流经营现金流 - 资本支出 | $37.0M | — |
| 自由现金流率自由现金流/营收 | 14.2% | — |
| 资本支出强度资本支出/营收 | 20.7% | — |
| 现金转化率经营现金流/净利润 | 0.24× | — |
| 过去12个月自由现金流最近4个季度 | $-49.0M | — |
8季度趋势，按日历期对齐
经营现金流LBRDAVATE
| Q4 25 | — | $101.1M | ||
| Q3 25 | — | $19.2M | ||
| Q2 25 | $91.0M | $40.4M | ||
| Q1 25 | $78.0M | $-14.1M | ||
| Q4 24 | $1.0M | $41.4M | ||
| Q3 24 | $24.0M | $-28.4M | ||
| Q2 24 | $27.0M | $21.5M | ||
| Q1 24 | $52.0M | $-25.4M |
自由现金流LBRDAVATE
| Q4 25 | — | — | ||
| Q3 25 | — | $19.0M | ||
| Q2 25 | $37.0M | — | ||
| Q1 25 | $13.0M | $-18.8M | ||
| Q4 24 | $-63.0M | $34.2M | ||
| Q3 24 | $-36.0M | $-31.5M | ||
| Q2 24 | $-35.0M | $18.4M | ||
| Q1 24 | $-9.0M | $-31.0M |
自由现金流率LBRDAVATE
| Q4 25 | — | — | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | 14.2% | — | ||
| Q1 25 | 4.9% | -6.9% | ||
| Q4 24 | -24.0% | 14.5% | ||
| Q3 24 | -13.7% | -13.0% | ||
| Q2 24 | -14.2% | 5.9% | ||
| Q1 24 | -3.7% | -9.8% |
资本支出强度LBRDAVATE
| Q4 25 | — | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | 20.7% | — | ||
| Q1 25 | 24.4% | 1.7% | ||
| Q4 24 | 24.3% | 3.0% | ||
| Q3 24 | 22.9% | 1.3% | ||
| Q2 24 | 25.2% | 1.0% | ||
| Q1 24 | 24.9% | 1.8% |
现金转化率LBRDAVATE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.17× | — | ||
| Q2 24 | 0.14× | 1.49× | ||
| Q1 24 | 0.22× | — |
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
LBRDA
暂无分部数据
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
