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Liberty Global Ltd.（LBTYA）与罗技（LOGI）财务数据对比。点击上方公司名可切换其他公司
Liberty Global Ltd.的季度营收约是罗技的1.7倍（$2.4B vs $1.4B），罗技净利率更高（17.7% vs 15.0%，领先2.7%），罗技同比增速更快（6.1% vs -3.6%），过去两年罗技的营收复合增速更高（18.5% vs 12.9%）
自由全球有限公司是一家英荷美合资的跨国电信企业，注册地位于百慕大，在伦敦、阿姆斯特丹和丹佛均设有总部。公司旗下拥有英国自由全球控股有限公司、荷兰自由全球有限公司及美国自由全球公司三大主体，其中英国主体为上市实体。企业由自由媒体国际业务部与UnitedGlobalCom于2005年合并成立，在全球电信服务领域拥有深厚的行业积累。
罗技国际是总部位于瑞士洛桑的跨国企业，专注于计算机外设及相关软件的研发与生产，在欧洲、亚洲、大洋洲、美洲均设有分支机构，为瑞士市场指数成分股，同时在纳斯达克交易所挂牌上市。
LBTYA vs LOGI — 直观对比
营收规模更大
LBTYA
是对方的1.7倍
$1.4B
营收增速更快
LOGI
高出9.7%
-3.6%
净利率更高
LOGI
高出2.7%
15.0%
两年增速更快
LOGI
近两年复合增速
12.9%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $1.4B |
| 净利润 | $358.2M | $251.0M |
| 毛利率 | — | 43.2% |
| 营业利润率 | 1.0% | 20.1% |
| 净利率 | 15.0% | 17.7% |
| 营收同比 | -3.6% | 6.1% |
| 净利润同比 | 127.1% | 25.4% |
| 每股收益（稀释后） | — | $1.69 |
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LBTYALOGI
| Q1 26 | $2.4B | — | ||
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $-1.4B | $1.3B | ||
| Q3 24 | $1.9B | $1.1B | ||
| Q2 24 | $1.9B | $1.1B |
净利润LBTYALOGI
| Q1 26 | $358.2M | — | ||
| Q4 25 | $-2.9B | $251.0M | ||
| Q3 25 | $-90.7M | $170.7M | ||
| Q2 25 | $-2.8B | $146.0M | ||
| Q1 25 | $-1.3B | $144.1M | ||
| Q4 24 | $2.2B | $200.1M | ||
| Q3 24 | $-1.4B | $145.5M | ||
| Q2 24 | $268.1M | $141.8M |
毛利率LBTYALOGI
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | 43.2% | ||
| Q3 25 | 67.5% | 43.4% | ||
| Q2 25 | 63.3% | 41.7% | ||
| Q1 25 | 65.6% | 43.1% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | 69.4% | 43.6% | ||
| Q2 24 | 68.5% | 42.8% |
营业利润率LBTYALOGI
| Q1 26 | 1.0% | — | ||
| Q4 25 | -8.6% | 20.1% | ||
| Q3 25 | -0.7% | 16.1% | ||
| Q2 25 | 2.3% | 14.1% | ||
| Q1 25 | 5.2% | 10.5% | ||
| Q4 24 | — | 17.5% | ||
| Q3 24 | 5.2% | 14.4% | ||
| Q2 24 | 1.0% | 14.1% |
净利率LBTYALOGI
| Q1 26 | 15.0% | — | ||
| Q4 25 | -237.0% | 17.7% | ||
| Q3 25 | -7.5% | 14.4% | ||
| Q2 25 | -220.1% | 12.7% | ||
| Q1 25 | -114.2% | 14.3% | ||
| Q4 24 | -158.9% | 14.9% | ||
| Q3 24 | -74.1% | 13.0% | ||
| Q2 24 | 14.3% | 13.0% |
每股收益（稀释后）LBTYALOGI
| Q1 26 | — | — | ||
| Q4 25 | $-8.66 | $1.69 | ||
| Q3 25 | $-0.27 | $1.15 | ||
| Q2 25 | $-8.09 | $0.98 | ||
| Q1 25 | $-3.84 | $0.94 | ||
| Q4 24 | $6.15 | $1.32 | ||
| Q3 24 | $-3.95 | $0.95 | ||
| Q2 24 | $0.71 | $0.92 |
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 | $-387.3M | $1.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $2.3B |
| 总资产 | — | $4.1B |
| 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LBTYALOGI
| Q1 26 | $-387.3M | — | ||
| Q4 25 | $2.2B | $1.8B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $3.1B | $1.5B | ||
| Q1 25 | $2.0B | $1.5B | ||
| Q4 24 | $2.2B | $1.5B | ||
| Q3 24 | $3.3B | $1.4B | ||
| Q2 24 | $3.2B | $1.5B |
总债务LBTYALOGI
| Q1 26 | — | — | ||
| Q4 25 | $7.8B | — | ||
| Q3 25 | $7.8B | — | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.2B | — | ||
| Q3 24 | $14.9B | — | ||
| Q2 24 | $14.7B | — |
股东权益LBTYALOGI
| Q1 26 | — | — | ||
| Q4 25 | $9.7B | $2.3B | ||
| Q3 25 | $12.7B | $2.1B | ||
| Q2 25 | $13.0B | $2.2B | ||
| Q1 25 | $12.6B | $2.1B | ||
| Q4 24 | $12.4B | $2.1B | ||
| Q3 24 | $18.7B | $2.1B | ||
| Q2 24 | $18.3B | $2.2B |
总资产LBTYALOGI
| Q1 26 | — | — | ||
| Q4 25 | $22.6B | $4.1B | ||
| Q3 25 | $25.4B | $3.7B | ||
| Q2 25 | $27.2B | $3.7B | ||
| Q1 25 | $26.0B | $3.5B | ||
| Q4 24 | $25.4B | $3.7B | ||
| Q3 24 | $41.8B | $3.6B | ||
| Q2 24 | $40.8B | $3.7B |
负债/权益比LBTYALOGI
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.80× | — | ||
| Q2 24 | 0.80× | — |
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 | $107.6M | $480.5M |
| 自由现金流经营现金流 - 资本支出 | — | $465.6M |
| 自由现金流率自由现金流/营收 | — | 32.8% |
| 资本支出强度资本支出/营收 | 1.5% | 1.0% |
| 现金转化率经营现金流/净利润 | 0.30× | 1.91× |
| 过去12个月自由现金流最近4个季度 | — | $903.6M |
8季度趋势，按日历期对齐
经营现金流LBTYALOGI
| Q1 26 | $107.6M | — | ||
| Q4 25 | $630.9M | $480.5M | ||
| Q3 25 | $301.8M | $228.8M | ||
| Q2 25 | $149.2M | $125.0M | ||
| Q1 25 | $129.2M | $129.7M | ||
| Q4 24 | $791.6M | $370.9M | ||
| Q3 24 | $449.5M | $166.0M | ||
| Q2 24 | $546.1M | $176.0M |
自由现金流LBTYALOGI
| Q1 26 | — | — | ||
| Q4 25 | $193.3M | $465.6M | ||
| Q3 25 | $-41.1M | $212.3M | ||
| Q2 25 | $-170.1M | $108.8M | ||
| Q1 25 | $-114.1M | $116.9M | ||
| Q4 24 | $712.9M | $356.6M | ||
| Q3 24 | $102.4M | $151.5M | ||
| Q2 24 | $256.8M | $161.4M |
自由现金流率LBTYALOGI
| Q1 26 | — | — | ||
| Q4 25 | 15.7% | 32.8% | ||
| Q3 25 | -3.4% | 17.9% | ||
| Q2 25 | -13.4% | 9.5% | ||
| Q1 25 | -9.7% | 11.6% | ||
| Q4 24 | -50.5% | 26.6% | ||
| Q3 24 | 5.3% | 13.6% | ||
| Q2 24 | 13.7% | 14.8% |
资本支出强度LBTYALOGI
| Q1 26 | 1.5% | — | ||
| Q4 25 | 35.5% | 1.0% | ||
| Q3 25 | 28.4% | 1.4% | ||
| Q2 25 | 25.2% | 1.4% | ||
| Q1 25 | 20.8% | 1.3% | ||
| Q4 24 | -5.6% | 1.1% | ||
| Q3 24 | 17.9% | 1.3% | ||
| Q2 24 | 15.4% | 1.3% |
现金转化率LBTYALOGI
| Q1 26 | 0.30× | — | ||
| Q4 25 | — | 1.91× | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | 0.86× | ||
| Q1 25 | — | 0.90× | ||
| Q4 24 | 0.35× | 1.85× | ||
| Q3 24 | — | 1.14× | ||
| Q2 24 | 2.04× | 1.24× |
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
LBTYA
| Mobile Service | $775.2M | 32% |
| Fixed Service | $772.0M | 32% |
| Business | $308.7M | 13% |
| Wholesale | $256.9M | 11% |
| Business Service | $233.2M | 10% |
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
