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Liberty Global Ltd.（LBTYA）与Zscaler, Inc.（ZS）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Zscaler, Inc.的1.6倍（$1.2B vs $788.1M），Zscaler, Inc.净利率更高（-1.5% vs -237.0%，领先235.5%），Liberty Global Ltd.同比增速更快（187.2% vs 25.5%），Zscaler, Inc.自由现金流更多（$431.0M vs $193.3M），过去两年Zscaler, Inc.的营收复合增速更高（22.5% vs -20.4%）
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。
Zscaler是总部位于美国加利福尼亚州圣何塞的云安全企业，专注提供云原生安全服务，为全球各行业企业的网络系统与数据资产提供全方位防护，助力企业在数字化运营过程中抵御各类安全风险，保障业务稳定开展。
LBTYA vs ZS — 直观对比
营收规模更大
LBTYA
是对方的1.6倍
$788.1M
营收增速更快
LBTYA
高出161.7%
25.5%
净利率更高
ZS
高出235.5%
-237.0%
自由现金流更多
ZS
多$237.7M
$193.3M
两年增速更快
ZS
近两年复合增速
-20.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $788.1M |
| 净利润 | $-2.9B | $-11.6M |
| 毛利率 | 66.8% | 76.6% |
| 营业利润率 | -8.6% | -4.6% |
| 净利率 | -237.0% | -1.5% |
| 营收同比 | 187.2% | 25.5% |
| 净利润同比 | -230.0% | 3.6% |
| 每股收益（稀释后） | $-8.66 | $-0.07 |
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LBTYAZS
| Q4 25 | $1.2B | $788.1M | ||
| Q3 25 | $1.2B | $719.2M | ||
| Q2 25 | $1.3B | $678.0M | ||
| Q1 25 | $1.2B | $647.9M | ||
| Q4 24 | $-1.4B | $628.0M | ||
| Q3 24 | $1.9B | $592.9M | ||
| Q2 24 | $1.9B | $553.2M | ||
| Q1 24 | $1.9B | $525.0M |
净利润LBTYAZS
| Q4 25 | $-2.9B | $-11.6M | ||
| Q3 25 | $-90.7M | $-17.6M | ||
| Q2 25 | $-2.8B | $-4.1M | ||
| Q1 25 | $-1.3B | $-7.7M | ||
| Q4 24 | $2.2B | $-12.1M | ||
| Q3 24 | $-1.4B | $-14.9M | ||
| Q2 24 | $268.1M | $19.1M | ||
| Q1 24 | $510.0M | $-28.5M |
毛利率LBTYAZS
| Q4 25 | 66.8% | 76.6% | ||
| Q3 25 | 67.5% | 76.1% | ||
| Q2 25 | 63.3% | 77.0% | ||
| Q1 25 | 65.6% | 77.1% | ||
| Q4 24 | — | 77.5% | ||
| Q3 24 | 69.4% | 78.0% | ||
| Q2 24 | 68.5% | 78.6% | ||
| Q1 24 | 65.4% | 77.7% |
营业利润率LBTYAZS
| Q4 25 | -8.6% | -4.6% | ||
| Q3 25 | -0.7% | -4.5% | ||
| Q2 25 | 2.3% | -3.7% | ||
| Q1 25 | 5.2% | -6.2% | ||
| Q4 24 | — | -4.9% | ||
| Q3 24 | 5.2% | -4.5% | ||
| Q2 24 | 1.0% | -0.5% | ||
| Q1 24 | 1.2% | -8.7% |
净利率LBTYAZS
| Q4 25 | -237.0% | -1.5% | ||
| Q3 25 | -7.5% | -2.4% | ||
| Q2 25 | -220.1% | -0.6% | ||
| Q1 25 | -114.2% | -1.2% | ||
| Q4 24 | -158.9% | -1.9% | ||
| Q3 24 | -74.1% | -2.5% | ||
| Q2 24 | 14.3% | 3.5% | ||
| Q1 24 | 26.2% | -5.4% |
每股收益（稀释后）LBTYAZS
| Q4 25 | $-8.66 | $-0.07 | ||
| Q3 25 | $-0.27 | $-0.11 | ||
| Q2 25 | $-8.09 | $-0.03 | ||
| Q1 25 | $-3.84 | $-0.05 | ||
| Q4 24 | $6.15 | $-0.08 | ||
| Q3 24 | $-3.95 | $-0.09 | ||
| Q2 24 | $0.71 | $0.12 | ||
| Q1 24 | $1.32 | $-0.19 |
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 | $2.2B | $1.3B |
| 总债务越低越好 | $7.8B | — |
| 股东权益账面价值 | $9.7B | $2.0B |
| 总资产 | $22.6B | $6.5B |
| 负债/权益比越低杠杆越低 | 0.80× | — |
8季度趋势，按日历期对齐
现金及短期投资LBTYAZS
| Q4 25 | $2.2B | $1.3B | ||
| Q3 25 | $1.7B | $2.4B | ||
| Q2 25 | $3.1B | $2.0B | ||
| Q1 25 | $2.0B | $1.8B | ||
| Q4 24 | $2.2B | $1.6B | ||
| Q3 24 | $3.3B | $1.4B | ||
| Q2 24 | $3.2B | $1.3B | ||
| Q1 24 | $2.8B | $1.4B |
总债务LBTYAZS
| Q4 25 | $7.8B | — | ||
| Q3 25 | $7.8B | — | ||
| Q2 25 | $7.8B | $1.1B | ||
| Q1 25 | $8.2B | $1.1B | ||
| Q4 24 | $8.2B | $1.1B | ||
| Q3 24 | $14.9B | $1.1B | ||
| Q2 24 | $14.7B | $1.1B | ||
| Q1 24 | $14.8B | $1.1B |
股东权益LBTYAZS
| Q4 25 | $9.7B | $2.0B | ||
| Q3 25 | $12.7B | $1.8B | ||
| Q2 25 | $13.0B | $1.8B | ||
| Q1 25 | $12.6B | $1.6B | ||
| Q4 24 | $12.4B | $1.4B | ||
| Q3 24 | $18.7B | $1.3B | ||
| Q2 24 | $18.3B | $1.1B | ||
| Q1 24 | $18.4B | $958.9M |
总资产LBTYAZS
| Q4 25 | $22.6B | $6.5B | ||
| Q3 25 | $25.4B | $6.4B | ||
| Q2 25 | $27.2B | $5.3B | ||
| Q1 25 | $26.0B | $5.0B | ||
| Q4 24 | $25.4B | $4.7B | ||
| Q3 24 | $41.8B | $4.7B | ||
| Q2 24 | $40.8B | $4.2B | ||
| Q1 24 | $40.6B | $3.9B |
负债/权益比LBTYAZS
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | 0.64× | ||
| Q1 25 | 0.65× | 0.71× | ||
| Q4 24 | 0.66× | 0.80× | ||
| Q3 24 | 0.80× | 0.90× | ||
| Q2 24 | 0.80× | 1.04× | ||
| Q1 24 | 0.80× | 1.19× |
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 | $630.9M | $448.3M |
| 自由现金流经营现金流 - 资本支出 | $193.3M | $431.0M |
| 自由现金流率自由现金流/营收 | 15.7% | 54.7% |
| 资本支出强度资本支出/营收 | 35.5% | 2.2% |
| 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 | $-132.0M | $924.9M |
8季度趋势，按日历期对齐
经营现金流LBTYAZS
| Q4 25 | $630.9M | $448.3M | ||
| Q3 25 | $301.8M | $250.6M | ||
| Q2 25 | $149.2M | $211.1M | ||
| Q1 25 | $129.2M | $179.4M | ||
| Q4 24 | $791.6M | $331.3M | ||
| Q3 24 | $449.5M | $203.6M | ||
| Q2 24 | $546.1M | $173.4M | ||
| Q1 24 | $245.7M | $142.1M |
自由现金流LBTYAZS
| Q4 25 | $193.3M | $431.0M | ||
| Q3 25 | $-41.1M | $190.6M | ||
| Q2 25 | $-170.1M | $138.9M | ||
| Q1 25 | $-114.1M | $164.4M | ||
| Q4 24 | $712.9M | $314.3M | ||
| Q3 24 | $102.4M | $154.2M | ||
| Q2 24 | $256.8M | $137.8M | ||
| Q1 24 | $-105.1M | $111.2M |
自由现金流率LBTYAZS
| Q4 25 | 15.7% | 54.7% | ||
| Q3 25 | -3.4% | 26.5% | ||
| Q2 25 | -13.4% | 20.5% | ||
| Q1 25 | -9.7% | 25.4% | ||
| Q4 24 | -50.5% | 50.1% | ||
| Q3 24 | 5.3% | 26.0% | ||
| Q2 24 | 13.7% | 24.9% | ||
| Q1 24 | -5.4% | 21.2% |
资本支出强度LBTYAZS
| Q4 25 | 35.5% | 2.2% | ||
| Q3 25 | 28.4% | 8.3% | ||
| Q2 25 | 25.2% | 10.6% | ||
| Q1 25 | 20.8% | 2.3% | ||
| Q4 24 | -5.6% | 2.7% | ||
| Q3 24 | 17.9% | 8.3% | ||
| Q2 24 | 15.4% | 6.4% | ||
| Q1 24 | 18.0% | 5.9% |
现金转化率LBTYAZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.04× | 9.07× | ||
| Q1 24 | 0.48× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
