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Liberty Global Ltd.（LBTYA）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是Liberty Global Ltd.的1.9倍（$4.4B vs $2.4B），标普全球净利率更高（26.8% vs 15.0%，领先11.8%），标普全球同比增速更快（191.7% vs -3.6%），过去两年标普全球的营收复合增速更高（77.3% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
LBTYA vs VG — 直观对比
营收规模更大
VG
是对方的1.9倍
$2.4B
营收增速更快
VG
高出195.3%
-3.6%
净利率更高
VG
高出11.8%
15.0%
两年增速更快
VG
近两年复合增速
12.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $4.4B |
| 净利润 | $358.2M | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 1.0% | 38.7% |
| 净利率 | 15.0% | 26.8% |
| 营收同比 | -3.6% | 191.7% |
| 净利润同比 | 127.1% | 20.3% |
| 每股收益（稀释后） | — | $0.41 |
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LBTYAVG
| Q1 26 | $2.4B | — | ||
| Q4 25 | $1.2B | $4.4B | ||
| Q3 25 | $1.2B | $3.3B | ||
| Q2 25 | $1.3B | $3.1B | ||
| Q1 25 | $1.2B | $2.9B | ||
| Q4 24 | $-1.4B | $1.5B | ||
| Q3 24 | $1.9B | $926.0M | ||
| Q2 24 | $1.9B | $1.1B |
净利润LBTYAVG
| Q1 26 | $358.2M | — | ||
| Q4 25 | $-2.9B | $1.2B | ||
| Q3 25 | $-90.7M | $550.0M | ||
| Q2 25 | $-2.8B | $475.0M | ||
| Q1 25 | $-1.3B | $517.0M | ||
| Q4 24 | $2.2B | $990.0M | ||
| Q3 24 | $-1.4B | $-294.0M | ||
| Q2 24 | $268.1M | $352.0M |
毛利率LBTYAVG
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | — | ||
| Q3 25 | 67.5% | — | ||
| Q2 25 | 63.3% | — | ||
| Q1 25 | 65.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 69.4% | — | ||
| Q2 24 | 68.5% | — |
营业利润率LBTYAVG
| Q1 26 | 1.0% | — | ||
| Q4 25 | -8.6% | 38.7% | ||
| Q3 25 | -0.7% | 39.7% | ||
| Q2 25 | 2.3% | 33.5% | ||
| Q1 25 | 5.2% | 37.3% | ||
| Q4 24 | — | 39.0% | ||
| Q3 24 | 5.2% | 20.4% | ||
| Q2 24 | 1.0% | 32.8% |
净利率LBTYAVG
| Q1 26 | 15.0% | — | ||
| Q4 25 | -237.0% | 26.8% | ||
| Q3 25 | -7.5% | 16.5% | ||
| Q2 25 | -220.1% | 15.3% | ||
| Q1 25 | -114.2% | 17.9% | ||
| Q4 24 | -158.9% | 65.0% | ||
| Q3 24 | -74.1% | -31.7% | ||
| Q2 24 | 14.3% | 31.8% |
每股收益（稀释后）LBTYAVG
| Q1 26 | — | — | ||
| Q4 25 | $-8.66 | $0.41 | ||
| Q3 25 | $-0.27 | $0.16 | ||
| Q2 25 | $-8.09 | $0.14 | ||
| Q1 25 | $-3.84 | $0.15 | ||
| Q4 24 | $6.15 | $0.35 | ||
| Q3 24 | $-3.95 | $-0.15 | ||
| Q2 24 | $0.71 | $0.12 |
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 | $2.4B |
| 总债务越低越好 | — | $34.2B |
| 股东权益账面价值 | — | $6.7B |
| 总资产 | — | $53.4B |
| 负债/权益比越低杠杆越低 | — | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资LBTYAVG
| Q1 26 | $-387.3M | — | ||
| Q4 25 | $2.2B | $2.4B | ||
| Q3 25 | $1.7B | $1.9B | ||
| Q2 25 | $3.1B | $2.2B | ||
| Q1 25 | $2.0B | $3.6B | ||
| Q4 24 | $2.2B | $3.6B | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $3.2B | — |
总债务LBTYAVG
| Q1 26 | — | — | ||
| Q4 25 | $7.8B | $34.2B | ||
| Q3 25 | $7.8B | $32.6B | ||
| Q2 25 | $7.8B | $30.0B | ||
| Q1 25 | $8.2B | $29.3B | ||
| Q4 24 | $8.2B | $29.3B | ||
| Q3 24 | $14.9B | — | ||
| Q2 24 | $14.7B | — |
股东权益LBTYAVG
| Q1 26 | — | — | ||
| Q4 25 | $9.7B | $6.7B | ||
| Q3 25 | $12.7B | $5.7B | ||
| Q2 25 | $13.0B | $5.3B | ||
| Q1 25 | $12.6B | $4.9B | ||
| Q4 24 | $12.4B | $2.9B | ||
| Q3 24 | $18.7B | — | ||
| Q2 24 | $18.3B | — |
总资产LBTYAVG
| Q1 26 | — | — | ||
| Q4 25 | $22.6B | $53.4B | ||
| Q3 25 | $25.4B | $50.1B | ||
| Q2 25 | $27.2B | $46.5B | ||
| Q1 25 | $26.0B | $45.1B | ||
| Q4 24 | $25.4B | $43.5B | ||
| Q3 24 | $41.8B | — | ||
| Q2 24 | $40.8B | — |
负债/权益比LBTYAVG
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | 5.07× | ||
| Q3 25 | 0.61× | 5.73× | ||
| Q2 25 | 0.60× | 5.69× | ||
| Q1 25 | 0.65× | 6.01× | ||
| Q4 24 | 0.66× | 10.11× | ||
| 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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | — | $-1.5B |
| 自由现金流率自由现金流/营收 | — | -34.1% |
| 资本支出强度资本支出/营收 | 1.5% | 81.6% |
| 现金转化率经营现金流/净利润 | 0.30× | 1.77× |
| 过去12个月自由现金流最近4个季度 | — | $-6.8B |
8季度趋势，按日历期对齐
经营现金流LBTYAVG
| Q1 26 | $107.6M | — | ||
| Q4 25 | $630.9M | $2.1B | ||
| Q3 25 | $301.8M | $1.9B | ||
| Q2 25 | $149.2M | $1.5B | ||
| Q1 25 | $129.2M | $1.1B | ||
| Q4 24 | $791.6M | — | ||
| Q3 24 | $449.5M | — | ||
| Q2 24 | $546.1M | — |
自由现金流LBTYAVG
| Q1 26 | — | — | ||
| Q4 25 | $193.3M | $-1.5B | ||
| Q3 25 | $-41.1M | $-1.4B | ||
| Q2 25 | $-170.1M | $-1.5B | ||
| Q1 25 | $-114.1M | $-2.4B | ||
| Q4 24 | $712.9M | — | ||
| Q3 24 | $102.4M | — | ||
| Q2 24 | $256.8M | — |
自由现金流率LBTYAVG
| Q1 26 | — | — | ||
| Q4 25 | 15.7% | -34.1% | ||
| Q3 25 | -3.4% | -42.4% | ||
| Q2 25 | -13.4% | -49.1% | ||
| Q1 25 | -9.7% | -81.3% | ||
| Q4 24 | -50.5% | — | ||
| Q3 24 | 5.3% | — | ||
| Q2 24 | 13.7% | — |
资本支出强度LBTYAVG
| Q1 26 | 1.5% | — | ||
| Q4 25 | 35.5% | 81.6% | ||
| Q3 25 | 28.4% | 98.9% | ||
| Q2 25 | 25.2% | 96.1% | ||
| Q1 25 | 20.8% | 119.8% | ||
| Q4 24 | -5.6% | — | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 15.4% | — |
现金转化率LBTYAVG
| Q1 26 | 0.30× | — | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | 3.42× | ||
| Q2 25 | — | 3.07× | ||
| Q1 25 | — | 2.15× | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.04× | — |
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% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
