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朗美通（LITE）与SBA Communications（SBAC）财务数据对比。点击上方公司名可切换其他公司
SBA Communications的季度营收约是朗美通的1.1倍（$703.4M vs $665.5M），SBA Communications净利率更高（26.3% vs 11.8%，领先14.5%），朗美通同比增速更快（65.5% vs -1.6%），过去两年朗美通的营收复合增速更高（34.8% vs 3.2%）
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。
SBA Communications是一家房地产投资信托企业，核心业务为持有、运营无线通信基础设施，市场覆盖美国、加拿大、中南美洲及南非地区。公司由Steven Bernstein于1989年创立，前身为Steven Bernstein and Associates。
LITE vs SBAC — 直观对比
营收规模更大
SBAC
是对方的1.1倍
$665.5M
营收增速更快
LITE
高出67.0%
-1.6%
净利率更高
SBAC
高出14.5%
11.8%
两年增速更快
LITE
近两年复合增速
3.2%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $703.4M |
| 净利润 | $78.2M | $184.9M |
| 毛利率 | 36.1% | — |
| 营业利润率 | 9.7% | 48.7% |
| 净利率 | 11.8% | 26.3% |
| 营收同比 | 65.5% | -1.6% |
| 净利润同比 | 228.4% | -15.1% |
| 每股收益（稀释后） | $0.89 | $1.74 |
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LITESBAC
| Q1 26 | — | $703.4M | ||
| Q4 25 | $665.5M | $719.6M | ||
| Q3 25 | $533.8M | $732.3M | ||
| Q2 25 | $480.7M | $699.0M | ||
| Q1 25 | $425.2M | $664.2M | ||
| Q4 24 | $402.2M | $693.7M | ||
| Q3 24 | $336.9M | $667.6M | ||
| Q2 24 | $308.3M | $660.5M |
净利润LITESBAC
| Q1 26 | — | $184.9M | ||
| Q4 25 | $78.2M | $370.4M | ||
| Q3 25 | $4.2M | $236.8M | ||
| Q2 25 | $213.3M | $225.8M | ||
| Q1 25 | $-44.1M | $220.7M | ||
| Q4 24 | $-60.9M | $178.8M | ||
| Q3 24 | $-82.4M | $258.5M | ||
| Q2 24 | $-252.5M | $162.8M |
毛利率LITESBAC
| Q1 26 | — | — | ||
| Q4 25 | 36.1% | 75.6% | ||
| Q3 25 | 34.0% | 74.1% | ||
| Q2 25 | 33.3% | 75.4% | ||
| Q1 25 | 28.8% | 76.9% | ||
| Q4 24 | 24.8% | 78.1% | ||
| Q3 24 | 23.1% | 77.5% | ||
| Q2 24 | 16.6% | 78.6% |
营业利润率LITESBAC
| Q1 26 | — | 48.7% | ||
| Q4 25 | 9.7% | 41.5% | ||
| Q3 25 | 1.3% | 51.1% | ||
| Q2 25 | -1.7% | 47.9% | ||
| Q1 25 | -8.9% | 50.4% | ||
| Q4 24 | -12.8% | 55.1% | ||
| Q3 24 | -24.5% | 56.3% | ||
| Q2 24 | -43.3% | 53.7% |
净利率LITESBAC
| Q1 26 | — | 26.3% | ||
| Q4 25 | 11.8% | 51.5% | ||
| Q3 25 | 0.8% | 32.3% | ||
| Q2 25 | 44.4% | 32.3% | ||
| Q1 25 | -10.4% | 33.2% | ||
| Q4 24 | -15.1% | 25.8% | ||
| Q3 24 | -24.5% | 38.7% | ||
| Q2 24 | -81.9% | 24.7% |
每股收益（稀释后）LITESBAC
| Q1 26 | — | $1.74 | ||
| Q4 25 | $0.89 | $3.47 | ||
| Q3 25 | $0.05 | $2.20 | ||
| Q2 25 | $3.10 | $2.09 | ||
| Q1 25 | $-0.64 | $2.04 | ||
| Q4 24 | $-0.88 | $1.61 | ||
| Q3 24 | $-1.21 | $2.40 | ||
| Q2 24 | $-3.75 | $1.51 |
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 | $269.1M |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $846.6M | — |
| 总资产 | $4.8B | $11.7B |
| 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LITESBAC
| Q1 26 | — | $269.1M | ||
| Q4 25 | $1.2B | $271.2M | ||
| Q3 25 | $1.1B | $431.1M | ||
| Q2 25 | $877.1M | $276.8M | ||
| Q1 25 | $866.7M | $702.2M | ||
| Q4 24 | $896.7M | $444.4M | ||
| Q3 24 | $916.1M | $202.6M | ||
| Q2 24 | $887.0M | $250.9M |
总债务LITESBAC
| Q1 26 | — | $2.7B | ||
| Q4 25 | — | $12.9B | ||
| Q3 25 | — | $12.7B | ||
| Q2 25 | — | $12.5B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | — | $13.6B | ||
| Q3 24 | — | $12.3B | ||
| Q2 24 | — | $12.3B |
股东权益LITESBAC
| Q1 26 | — | — | ||
| Q4 25 | $846.6M | $-4.9B | ||
| Q3 25 | $780.8M | $-4.9B | ||
| Q2 25 | $1.1B | $-4.9B | ||
| Q1 25 | $879.5M | $-5.0B | ||
| Q4 24 | $872.3M | $-5.1B | ||
| Q3 24 | $895.9M | $-5.2B | ||
| Q2 24 | $957.3M | $-5.3B |
总资产LITESBAC
| Q1 26 | — | $11.7B | ||
| Q4 25 | $4.8B | $11.6B | ||
| Q3 25 | $4.6B | $11.3B | ||
| Q2 25 | $4.2B | $10.8B | ||
| Q1 25 | $4.0B | $10.4B | ||
| Q4 24 | $4.0B | $11.4B | ||
| Q3 24 | $4.0B | $10.2B | ||
| Q2 24 | $3.9B | $9.8B |
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 | $255.1M |
| 自由现金流经营现金流 - 资本支出 | $43.1M | — |
| 自由现金流率自由现金流/营收 | 6.5% | — |
| 资本支出强度资本支出/营收 | 12.6% | 9.5% |
| 现金转化率经营现金流/净利润 | 1.62× | 1.38× |
| 过去12个月自由现金流最近4个季度 | $-29.5M | — |
8季度趋势，按日历期对齐
经营现金流LITESBAC
| Q1 26 | — | $255.1M | ||
| Q4 25 | $126.7M | $1.3B | ||
| Q3 25 | $57.9M | $318.0M | ||
| Q2 25 | $64.0M | $368.1M | ||
| Q1 25 | $-1.6M | $301.2M | ||
| Q4 24 | $24.3M | $1.3B | ||
| Q3 24 | $39.6M | $304.7M | ||
| Q2 24 | $35.5M | $425.6M |
自由现金流LITESBAC
| Q1 26 | — | — | ||
| Q4 25 | $43.1M | $833.3M | ||
| Q3 25 | $-18.3M | $258.0M | ||
| Q2 25 | $10.1M | $312.2M | ||
| Q1 25 | $-64.4M | $255.0M | ||
| Q4 24 | $-15.9M | $1.2B | ||
| Q3 24 | $-34.5M | $239.9M | ||
| Q2 24 | $10.9M | $375.6M |
自由现金流率LITESBAC
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | 115.8% | ||
| Q3 25 | -3.4% | 35.2% | ||
| Q2 25 | 2.1% | 44.7% | ||
| Q1 25 | -15.1% | 38.4% | ||
| Q4 24 | -4.0% | 179.9% | ||
| Q3 24 | -10.2% | 35.9% | ||
| Q2 24 | 3.5% | 56.9% |
资本支出强度LITESBAC
| Q1 26 | — | 9.5% | ||
| Q4 25 | 12.6% | 63.7% | ||
| Q3 25 | 14.3% | 8.2% | ||
| Q2 25 | 11.2% | 8.0% | ||
| Q1 25 | 14.8% | 7.0% | ||
| Q4 24 | 10.0% | 12.6% | ||
| Q3 24 | 22.0% | 9.7% | ||
| Q2 24 | 8.0% | 7.6% |
现金转化率LITESBAC
| Q1 26 | — | 1.38× | ||
| Q4 25 | 1.62× | 3.49× | ||
| Q3 25 | 13.79× | 1.34× | ||
| Q2 25 | 0.30× | 1.63× | ||
| Q1 25 | — | 1.36× | ||
| Q4 24 | — | 7.47× | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 2.61× |
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% |
SBAC
| Site leasing | $656.1M | 93% |
| Site development | $47.3M | 7% |
