vs
朗美通（LITE）与晨星（MORN）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晨星的1.0倍（$665.5M vs $641.1M），晨星净利率更高（18.0% vs 11.8%，领先6.2%），朗美通同比增速更快（65.5% vs 8.5%），晨星自由现金流更多（$161.3M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs 8.7%）
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。
晨星（Morningstar, Inc.）是总部位于美国伊利诺伊州芝加哥的金融服务机构，由乔·曼苏托于1984年创立，面向全球提供全方位的投资研究、投资管理等专业服务，是全球颇具知名度的投资资讯服务提供商。
LITE vs MORN — 直观对比
营收规模更大
LITE
是对方的1.0倍
$641.1M
营收增速更快
LITE
高出57.0%
8.5%
净利率更高
MORN
高出6.2%
11.8%
自由现金流更多
MORN
多$118.2M
$43.1M
两年增速更快
LITE
近两年复合增速
8.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $641.1M |
| 净利润 | $78.2M | $115.1M |
| 毛利率 | 36.1% | 61.1% |
| 营业利润率 | 9.7% | 24.9% |
| 净利率 | 11.8% | 18.0% |
| 营收同比 | 65.5% | 8.5% |
| 净利润同比 | 228.4% | -1.5% |
| 每股收益（稀释后） | $0.89 | $2.79 |
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LITEMORN
| Q4 25 | $665.5M | $641.1M | ||
| Q3 25 | $533.8M | $617.4M | ||
| Q2 25 | $480.7M | $605.1M | ||
| Q1 25 | $425.2M | $581.9M | ||
| Q4 24 | $402.2M | $591.0M | ||
| Q3 24 | $336.9M | $569.4M | ||
| Q2 24 | $308.3M | $571.9M | ||
| Q1 24 | $366.5M | $542.8M |
净利润LITEMORN
| Q4 25 | $78.2M | $115.1M | ||
| Q3 25 | $4.2M | $91.6M | ||
| Q2 25 | $213.3M | $89.0M | ||
| Q1 25 | $-44.1M | $78.5M | ||
| Q4 24 | $-60.9M | $116.9M | ||
| Q3 24 | $-82.4M | $119.7M | ||
| Q2 24 | $-252.5M | $69.1M | ||
| Q1 24 | $-127.0M | $64.2M |
毛利率LITEMORN
| Q4 25 | 36.1% | 61.1% | ||
| Q3 25 | 34.0% | 60.9% | ||
| Q2 25 | 33.3% | 61.9% | ||
| Q1 25 | 28.8% | 60.2% | ||
| Q4 24 | 24.8% | 60.7% | ||
| Q3 24 | 23.1% | 60.9% | ||
| Q2 24 | 16.6% | 61.1% | ||
| Q1 24 | 16.2% | 59.8% |
营业利润率LITEMORN
| Q4 25 | 9.7% | 24.9% | ||
| Q3 25 | 1.3% | 20.7% | ||
| Q2 25 | -1.7% | 20.7% | ||
| Q1 25 | -8.9% | 19.6% | ||
| Q4 24 | -12.8% | 28.5% | ||
| Q3 24 | -24.5% | 20.3% | ||
| Q2 24 | -43.3% | 19.0% | ||
| Q1 24 | -31.3% | 17.1% |
净利率LITEMORN
| Q4 25 | 11.8% | 18.0% | ||
| Q3 25 | 0.8% | 14.8% | ||
| Q2 25 | 44.4% | 14.7% | ||
| Q1 25 | -10.4% | 13.5% | ||
| Q4 24 | -15.1% | 19.8% | ||
| Q3 24 | -24.5% | 21.0% | ||
| Q2 24 | -81.9% | 12.1% | ||
| Q1 24 | -34.7% | 11.8% |
每股收益（稀释后）LITEMORN
| Q4 25 | $0.89 | $2.79 | ||
| Q3 25 | $0.05 | $2.17 | ||
| Q2 25 | $3.10 | $2.09 | ||
| Q1 25 | $-0.64 | $1.82 | ||
| Q4 24 | $-0.88 | $2.72 | ||
| Q3 24 | $-1.21 | $2.77 | ||
| Q2 24 | $-3.75 | $1.60 | ||
| Q1 24 | $-1.88 | $1.49 |
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 | $528.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $846.6M | $1.2B |
| 总资产 | $4.8B | $3.6B |
| 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LITEMORN
| Q4 25 | $1.2B | $528.7M | ||
| Q3 25 | $1.1B | $40.3M | ||
| Q2 25 | $877.1M | $38.1M | ||
| Q1 25 | $866.7M | $47.7M | ||
| Q4 24 | $896.7M | $551.0M | ||
| Q3 24 | $916.1M | $48.8M | ||
| Q2 24 | $887.0M | $48.0M | ||
| Q1 24 | $870.9M | $55.4M |
总债务LITEMORN
| Q4 25 | — | — | ||
| Q3 25 | — | $848.9M | ||
| Q2 25 | — | $838.8M | ||
| Q1 25 | — | $803.7M | ||
| Q4 24 | — | $698.6M | ||
| Q3 24 | — | $864.7M | ||
| Q2 24 | — | $899.6M | ||
| Q1 24 | — | $917.3M |
股东权益LITEMORN
| Q4 25 | $846.6M | $1.2B | ||
| Q3 25 | $780.8M | $1.5B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $879.5M | $1.6B | ||
| Q4 24 | $872.3M | $1.6B | ||
| Q3 24 | $895.9M | $1.6B | ||
| Q2 24 | $957.3M | $1.4B | ||
| Q1 24 | $1.2B | $1.4B |
总资产LITEMORN
| Q4 25 | $4.8B | $3.6B | ||
| Q3 25 | $4.6B | $3.6B | ||
| Q2 25 | $4.2B | $3.6B | ||
| Q1 25 | $4.0B | $3.6B | ||
| Q4 24 | $4.0B | $3.5B | ||
| Q3 24 | $4.0B | $3.6B | ||
| Q2 24 | $3.9B | $3.4B | ||
| Q1 24 | $4.2B | $3.4B |
负债/权益比LITEMORN
| Q4 25 | — | — | ||
| Q3 25 | — | 0.56× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.55× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.66× |
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 | $204.0M |
| 自由现金流经营现金流 - 资本支出 | $43.1M | $161.3M |
| 自由现金流率自由现金流/营收 | 6.5% | 25.2% |
| 资本支出强度资本支出/营收 | 12.6% | 6.7% |
| 现金转化率经营现金流/净利润 | 1.62× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $-29.5M | $442.6M |
8季度趋势，按日历期对齐
经营现金流LITEMORN
| Q4 25 | $126.7M | $204.0M | ||
| Q3 25 | $57.9M | $195.7M | ||
| Q2 25 | $64.0M | $99.0M | ||
| Q1 25 | $-1.6M | $91.0M | ||
| Q4 24 | $24.3M | $153.4M | ||
| Q3 24 | $39.6M | $191.9M | ||
| Q2 24 | $35.5M | $152.7M | ||
| Q1 24 | $-7.0M | $93.6M |
自由现金流LITEMORN
| Q4 25 | $43.1M | $161.3M | ||
| Q3 25 | $-18.3M | $160.1M | ||
| Q2 25 | $10.1M | $62.4M | ||
| Q1 25 | $-64.4M | $58.8M | ||
| Q4 24 | $-15.9M | $112.8M | ||
| Q3 24 | $-34.5M | $155.8M | ||
| Q2 24 | $10.9M | $120.8M | ||
| Q1 24 | $-26.6M | $59.5M |
自由现金流率LITEMORN
| Q4 25 | 6.5% | 25.2% | ||
| Q3 25 | -3.4% | 25.9% | ||
| Q2 25 | 2.1% | 10.3% | ||
| Q1 25 | -15.1% | 10.1% | ||
| Q4 24 | -4.0% | 19.1% | ||
| Q3 24 | -10.2% | 27.4% | ||
| Q2 24 | 3.5% | 21.1% | ||
| Q1 24 | -7.3% | 11.0% |
资本支出强度LITEMORN
| Q4 25 | 12.6% | 6.7% | ||
| Q3 25 | 14.3% | 5.8% | ||
| Q2 25 | 11.2% | 6.0% | ||
| Q1 25 | 14.8% | 5.5% | ||
| Q4 24 | 10.0% | 6.9% | ||
| Q3 24 | 22.0% | 6.3% | ||
| Q2 24 | 8.0% | 5.6% | ||
| Q1 24 | 5.3% | 6.3% |
现金转化率LITEMORN
| Q4 25 | 1.62× | 1.77× | ||
| Q3 25 | 13.79× | 2.14× | ||
| Q2 25 | 0.30× | 1.11× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 1.31× | ||
| Q3 24 | — | 1.60× | ||
| Q2 24 | — | 2.21× | ||
| Q1 24 | — | 1.46× |
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% |
MORN
| Pitch Book Segment | $172.6M | 27% |
| Morningstar Credit Segment | $166.7M | 26% |
| Transaction Based | $113.1M | 18% |
| Asset Based | $90.2M | 14% |
| Morningstar Retirement Segment | $38.1M | 6% |
| Morningstar Sustainalytics | $27.8M | 4% |
| Morningstar Indexes | $22.5M | 4% |
| Morningstar Wealth Segment | $2.3M | 0% |
