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朗美通（LITE）与Mid-America Apartment Communities（MAA）财务数据对比。点击上方公司名可切换其他公司
朗美通的季度营收约是Mid-America Apartment Communities的1.2倍（$665.5M vs $555.6M），朗美通净利率更高（11.8% vs 10.4%，领先1.4%），朗美通同比增速更快（65.5% vs 1.0%），Mid-America Apartment Communities自由现金流更多（$158.6M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs 1.1%）
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
Mid-America Apartment Communities（股票代码：MAA）是一家公开上市的房地产投资信托基金，总部位于美国田纳西州孟菲斯市，核心业务为投资美国东南部及西南部地区的公寓物业，深耕美国高增长区域住宅不动产赛道，为股东创造稳定的长期投资回报。
LITE vs MAA — 直观对比
营收规模更大
LITE
是对方的1.2倍
$555.6M
营收增速更快
LITE
高出64.4%
1.0%
净利率更高
LITE
高出1.4%
10.4%
自由现金流更多
MAA
多$115.5M
$43.1M
两年增速更快
LITE
近两年复合增速
1.1%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $555.6M |
| 净利润 | $78.2M | $57.6M |
| 毛利率 | 36.1% | — |
| 营业利润率 | 9.7% | 10.4% |
| 净利率 | 11.8% | 10.4% |
| 营收同比 | 65.5% | 1.0% |
| 净利润同比 | 228.4% | -65.5% |
| 每股收益（稀释后） | $0.89 | $0.48 |
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LITEMAA
| Q4 25 | $665.5M | $555.6M | ||
| Q3 25 | $533.8M | $554.4M | ||
| Q2 25 | $480.7M | $549.9M | ||
| Q1 25 | $425.2M | $549.3M | ||
| Q4 24 | $402.2M | $549.8M | ||
| Q3 24 | $336.9M | $551.1M | ||
| Q2 24 | $308.3M | $546.4M | ||
| Q1 24 | $366.5M | $543.6M |
净利润LITEMAA
| Q4 25 | $78.2M | $57.6M | ||
| Q3 25 | $4.2M | $99.5M | ||
| Q2 25 | $213.3M | $108.1M | ||
| Q1 25 | $-44.1M | $181.7M | ||
| Q4 24 | $-60.9M | $166.6M | ||
| Q3 24 | $-82.4M | $115.2M | ||
| Q2 24 | $-252.5M | $102.0M | ||
| Q1 24 | $-127.0M | $143.7M |
毛利率LITEMAA
| Q4 25 | 36.1% | — | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 33.3% | — | ||
| Q1 25 | 28.8% | — | ||
| Q4 24 | 24.8% | — | ||
| Q3 24 | 23.1% | — | ||
| Q2 24 | 16.6% | — | ||
| Q1 24 | 16.2% | — |
营业利润率LITEMAA
| Q4 25 | 9.7% | 10.4% | ||
| Q3 25 | 1.3% | 18.7% | ||
| Q2 25 | -1.7% | 20.2% | ||
| Q1 25 | -8.9% | 34.0% | ||
| Q4 24 | -12.8% | 31.3% | ||
| Q3 24 | -24.5% | 21.5% | ||
| Q2 24 | -43.3% | 19.3% | ||
| Q1 24 | -31.3% | 27.4% |
净利率LITEMAA
| Q4 25 | 11.8% | 10.4% | ||
| Q3 25 | 0.8% | 18.0% | ||
| Q2 25 | 44.4% | 19.7% | ||
| Q1 25 | -10.4% | 33.1% | ||
| Q4 24 | -15.1% | 30.3% | ||
| Q3 24 | -24.5% | 20.9% | ||
| Q2 24 | -81.9% | 18.7% | ||
| Q1 24 | -34.7% | 26.4% |
每股收益（稀释后）LITEMAA
| Q4 25 | $0.89 | $0.48 | ||
| Q3 25 | $0.05 | $0.84 | ||
| Q2 25 | $3.10 | $0.92 | ||
| Q1 25 | $-0.64 | $1.54 | ||
| Q4 24 | $-0.88 | $1.43 | ||
| Q3 24 | $-1.21 | $0.98 | ||
| Q2 24 | $-3.75 | $0.86 | ||
| Q1 24 | $-1.88 | $1.22 |
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 | $1.2B | $60.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $846.6M | $5.7B |
| 总资产 | $4.8B | $12.0B |
| 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LITEMAA
| Q4 25 | $1.2B | $60.3M | ||
| Q3 25 | $1.1B | $32.2M | ||
| Q2 25 | $877.1M | $54.5M | ||
| Q1 25 | $866.7M | $55.8M | ||
| Q4 24 | $896.7M | $43.0M | ||
| Q3 24 | $916.1M | $50.2M | ||
| Q2 24 | $887.0M | $62.8M | ||
| Q1 24 | $870.9M | $54.6M |
股东权益LITEMAA
| Q4 25 | $846.6M | $5.7B | ||
| Q3 25 | $780.8M | $5.8B | ||
| Q2 25 | $1.1B | $5.9B | ||
| Q1 25 | $879.5M | $5.9B | ||
| Q4 24 | $872.3M | $5.9B | ||
| Q3 24 | $895.9M | $5.9B | ||
| Q2 24 | $957.3M | $6.0B | ||
| Q1 24 | $1.2B | $6.1B |
总资产LITEMAA
| Q4 25 | $4.8B | $12.0B | ||
| Q3 25 | $4.6B | $11.9B | ||
| Q2 25 | $4.2B | $11.8B | ||
| Q1 25 | $4.0B | $11.8B | ||
| Q4 24 | $4.0B | $11.8B | ||
| Q3 24 | $4.0B | $11.8B | ||
| Q2 24 | $3.9B | $11.6B | ||
| Q1 24 | $4.2B | $11.5B |
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 | $126.7M | $261.7M |
| 自由现金流经营现金流 - 资本支出 | $43.1M | $158.6M |
| 自由现金流率自由现金流/营收 | 6.5% | 28.5% |
| 资本支出强度资本支出/营收 | 12.6% | 18.6% |
| 现金转化率经营现金流/净利润 | 1.62× | 4.55× |
| 过去12个月自由现金流最近4个季度 | $-29.5M | $717.9M |
8季度趋势，按日历期对齐
经营现金流LITEMAA
| Q4 25 | $126.7M | $261.7M | ||
| Q3 25 | $57.9M | $266.4M | ||
| Q2 25 | $64.0M | $353.4M | ||
| Q1 25 | $-1.6M | $196.6M | ||
| Q4 24 | $24.3M | $239.1M | ||
| Q3 24 | $39.6M | $309.5M | ||
| Q2 24 | $35.5M | $349.4M | ||
| Q1 24 | $-7.0M | $200.3M |
自由现金流LITEMAA
| Q4 25 | $43.1M | $158.6M | ||
| Q3 25 | $-18.3M | $170.8M | ||
| Q2 25 | $10.1M | $264.5M | ||
| Q1 25 | $-64.4M | $124.0M | ||
| Q4 24 | $-15.9M | $152.6M | ||
| Q3 24 | $-34.5M | $215.5M | ||
| Q2 24 | $10.9M | $259.7M | ||
| Q1 24 | $-26.6M | $148.2M |
自由现金流率LITEMAA
| Q4 25 | 6.5% | 28.5% | ||
| Q3 25 | -3.4% | 30.8% | ||
| Q2 25 | 2.1% | 48.1% | ||
| Q1 25 | -15.1% | 22.6% | ||
| Q4 24 | -4.0% | 27.8% | ||
| Q3 24 | -10.2% | 39.1% | ||
| Q2 24 | 3.5% | 47.5% | ||
| Q1 24 | -7.3% | 27.3% |
资本支出强度LITEMAA
| Q4 25 | 12.6% | 18.6% | ||
| Q3 25 | 14.3% | 17.2% | ||
| Q2 25 | 11.2% | 16.2% | ||
| Q1 25 | 14.8% | 13.2% | ||
| Q4 24 | 10.0% | 15.7% | ||
| Q3 24 | 22.0% | 17.1% | ||
| Q2 24 | 8.0% | 16.4% | ||
| Q1 24 | 5.3% | 9.6% |
现金转化率LITEMAA
| Q4 25 | 1.62× | 4.55× | ||
| Q3 25 | 13.79× | 2.68× | ||
| Q2 25 | 0.30× | 3.27× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.43× | ||
| Q1 24 | — | 1.39× |
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
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
MAA
| Same Store | $515.5M | 93% |
| Non Same Store And Other | $36.8M | 7% |
