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朗美通（LITE）与Penumbra Inc（PEN）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Penumbra Inc的1.7倍（$665.5M vs $385.4M），Penumbra Inc净利率更高（12.3% vs 11.8%，领先0.5%），朗美通同比增速更快（65.5% vs 22.1%），Penumbra Inc自由现金流更多（$68.0M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs 17.6%）
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。
Penumbra Inc是2004年由Arani Bose与Adam Elsesser联合创立的美国医疗器械企业，总部位于加利福尼亚州阿拉米达，核心业务为研发、生产中风、动脉瘤等血管疾病介入治疗所用的专业医疗设备，产品已在全球多个国家的临床诊疗场景中投入使用。
LITE vs PEN — 直观对比
营收规模更大
LITE
是对方的1.7倍
$385.4M
营收增速更快
LITE
高出43.3%
22.1%
净利率更高
PEN
高出0.5%
11.8%
自由现金流更多
PEN
多$24.9M
$43.1M
两年增速更快
LITE
近两年复合增速
17.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $385.4M |
| 净利润 | $78.2M | $47.3M |
| 毛利率 | 36.1% | 68.0% |
| 营业利润率 | 9.7% | 15.4% |
| 净利率 | 11.8% | 12.3% |
| 营收同比 | 65.5% | 22.1% |
| 净利润同比 | 228.4% | 40.6% |
| 每股收益（稀释后） | $0.89 | $1.20 |
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LITEPEN
| Q4 25 | $665.5M | $385.4M | ||
| Q3 25 | $533.8M | $354.7M | ||
| Q2 25 | $480.7M | $339.5M | ||
| Q1 25 | $425.2M | $324.1M | ||
| Q4 24 | $402.2M | $315.5M | ||
| Q3 24 | $336.9M | $301.0M | ||
| Q2 24 | $308.3M | $299.4M | ||
| Q1 24 | $366.5M | $278.7M |
净利润LITEPEN
| Q4 25 | $78.2M | $47.3M | ||
| Q3 25 | $4.2M | $45.9M | ||
| Q2 25 | $213.3M | $45.3M | ||
| Q1 25 | $-44.1M | $39.2M | ||
| Q4 24 | $-60.9M | $33.7M | ||
| Q3 24 | $-82.4M | $29.5M | ||
| Q2 24 | $-252.5M | $-60.2M | ||
| Q1 24 | $-127.0M | $11.0M |
毛利率LITEPEN
| Q4 25 | 36.1% | 68.0% | ||
| Q3 25 | 34.0% | 67.8% | ||
| Q2 25 | 33.3% | 66.0% | ||
| Q1 25 | 28.8% | 66.6% | ||
| Q4 24 | 24.8% | 66.8% | ||
| Q3 24 | 23.1% | 66.5% | ||
| Q2 24 | 16.6% | 54.4% | ||
| Q1 24 | 16.2% | 65.0% |
营业利润率LITEPEN
| Q4 25 | 9.7% | 15.4% | ||
| Q3 25 | 1.3% | 13.8% | ||
| Q2 25 | -1.7% | 12.0% | ||
| Q1 25 | -8.9% | 12.4% | ||
| Q4 24 | -12.8% | 13.6% | ||
| Q3 24 | -24.5% | 11.7% | ||
| Q2 24 | -43.3% | -27.0% | ||
| Q1 24 | -31.3% | 4.3% |
净利率LITEPEN
| Q4 25 | 11.8% | 12.3% | ||
| Q3 25 | 0.8% | 12.9% | ||
| Q2 25 | 44.4% | 13.3% | ||
| Q1 25 | -10.4% | 12.1% | ||
| Q4 24 | -15.1% | 10.7% | ||
| Q3 24 | -24.5% | 9.8% | ||
| Q2 24 | -81.9% | -20.1% | ||
| Q1 24 | -34.7% | 3.9% |
每股收益（稀释后）LITEPEN
| Q4 25 | $0.89 | $1.20 | ||
| Q3 25 | $0.05 | $1.17 | ||
| Q2 25 | $3.10 | $1.15 | ||
| Q1 25 | $-0.64 | $1.00 | ||
| Q4 24 | $-0.88 | $0.88 | ||
| Q3 24 | $-1.21 | $0.75 | ||
| Q2 24 | $-3.75 | $-1.55 | ||
| Q1 24 | $-1.88 | $0.28 |
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 | $186.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $846.6M | $1.4B |
| 总资产 | $4.8B | $1.8B |
| 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LITEPEN
| Q4 25 | $1.2B | $186.9M | ||
| Q3 25 | $1.1B | $321.0M | ||
| Q2 25 | $877.1M | $421.8M | ||
| Q1 25 | $866.7M | $376.1M | ||
| Q4 24 | $896.7M | $324.4M | ||
| Q3 24 | $916.1M | $280.5M | ||
| Q2 24 | $887.0M | $288.3M | ||
| Q1 24 | $870.9M | $223.1M |
股东权益LITEPEN
| Q4 25 | $846.6M | $1.4B | ||
| Q3 25 | $780.8M | $1.4B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $879.5M | $1.2B | ||
| Q4 24 | $872.3M | $1.2B | ||
| Q3 24 | $895.9M | $1.1B | ||
| Q2 24 | $957.3M | $1.2B | ||
| Q1 24 | $1.2B | $1.2B |
总资产LITEPEN
| Q4 25 | $4.8B | $1.8B | ||
| Q3 25 | $4.6B | $1.7B | ||
| Q2 25 | $4.2B | $1.7B | ||
| Q1 25 | $4.0B | $1.6B | ||
| Q4 24 | $4.0B | $1.5B | ||
| Q3 24 | $4.0B | $1.5B | ||
| Q2 24 | $3.9B | $1.5B | ||
| Q1 24 | $4.2B | $1.6B |
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 | $86.5M |
| 自由现金流经营现金流 - 资本支出 | $43.1M | $68.0M |
| 自由现金流率自由现金流/营收 | 6.5% | 17.7% |
| 资本支出强度资本支出/营收 | 12.6% | 4.8% |
| 现金转化率经营现金流/净利润 | 1.62× | 1.83× |
| 过去12个月自由现金流最近4个季度 | $-29.5M | $174.9M |
8季度趋势，按日历期对齐
经营现金流LITEPEN
| Q4 25 | $126.7M | $86.5M | ||
| Q3 25 | $57.9M | $58.3M | ||
| Q2 25 | $64.0M | $44.9M | ||
| Q1 25 | $-1.6M | $49.0M | ||
| Q4 24 | $24.3M | $51.1M | ||
| Q3 24 | $39.6M | $56.5M | ||
| Q2 24 | $35.5M | $22.6M | ||
| Q1 24 | $-7.0M | $38.3M |
自由现金流LITEPEN
| Q4 25 | $43.1M | $68.0M | ||
| Q3 25 | $-18.3M | $42.0M | ||
| Q2 25 | $10.1M | $29.4M | ||
| Q1 25 | $-64.4M | $35.5M | ||
| Q4 24 | $-15.9M | $45.7M | ||
| Q3 24 | $-34.5M | $51.0M | ||
| Q2 24 | $10.9M | $18.1M | ||
| Q1 24 | $-26.6M | $32.5M |
自由现金流率LITEPEN
| Q4 25 | 6.5% | 17.7% | ||
| Q3 25 | -3.4% | 11.8% | ||
| Q2 25 | 2.1% | 8.7% | ||
| Q1 25 | -15.1% | 11.0% | ||
| Q4 24 | -4.0% | 14.5% | ||
| Q3 24 | -10.2% | 16.9% | ||
| Q2 24 | 3.5% | 6.0% | ||
| Q1 24 | -7.3% | 11.7% |
资本支出强度LITEPEN
| Q4 25 | 12.6% | 4.8% | ||
| Q3 25 | 14.3% | 4.6% | ||
| Q2 25 | 11.2% | 4.6% | ||
| Q1 25 | 14.8% | 4.2% | ||
| Q4 24 | 10.0% | 1.7% | ||
| Q3 24 | 22.0% | 1.8% | ||
| Q2 24 | 8.0% | 1.5% | ||
| Q1 24 | 5.3% | 2.1% |
现金转化率LITEPEN
| Q4 25 | 1.62× | 1.83× | ||
| Q3 25 | 13.79× | 1.27× | ||
| Q2 25 | 0.30× | 0.99× | ||
| Q1 25 | — | 1.25× | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | — | 1.91× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 3.48× |
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% |
PEN
| Thrombectomy | $254.7M | 66% |
| Other | $130.7M | 34% |
