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朗美通（LITE）与世纪互联（VNET）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世纪互联的1.8倍（$665.5M vs $362.7M），朗美通净利率更高（11.8% vs -10.7%，领先22.4%），朗美通自由现金流更多（$43.1M vs $-193.1M），过去两年朗美通的营收复合增速更高（34.8% vs 17.4%）
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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
LITE vs VNET — 直观对比
营收规模更大
LITE
是对方的1.8倍
$362.7M
净利率更高
LITE
高出22.4%
-10.7%
自由现金流更多
LITE
多$236.2M
$-193.1M
两年增速更快
LITE
近两年复合增速
17.4%
损益表 — Q2 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $362.7M |
| 净利润 | $78.2M | $-38.7M |
| 毛利率 | 36.1% | 20.9% |
| 营业利润率 | 9.7% | 0.5% |
| 净利率 | 11.8% | -10.7% |
| 营收同比 | 65.5% | — |
| 净利润同比 | 228.4% | — |
| 每股收益（稀释后） | $0.89 | — |
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LITEVNET
| Q4 25 | $665.5M | — | ||
| Q3 25 | $533.8M | $362.7M | ||
| Q2 25 | $480.7M | — | ||
| Q1 25 | $425.2M | $309.5M | ||
| Q4 24 | $402.2M | — | ||
| Q3 24 | $336.9M | $302.2M | ||
| Q2 24 | $308.3M | $274.4M | ||
| Q1 24 | $366.5M | $262.9M |
净利润LITEVNET
| Q4 25 | $78.2M | — | ||
| Q3 25 | $4.2M | $-38.7M | ||
| Q2 25 | $213.3M | — | ||
| Q1 25 | $-44.1M | $-2.4M | ||
| Q4 24 | $-60.9M | — | ||
| Q3 24 | $-82.4M | $-2.1M | ||
| Q2 24 | $-252.5M | $-1.1M | ||
| Q1 24 | $-127.0M | $-22.0M |
毛利率LITEVNET
| Q4 25 | 36.1% | — | ||
| Q3 25 | 34.0% | 20.9% | ||
| Q2 25 | 33.3% | — | ||
| Q1 25 | 28.8% | 25.2% | ||
| Q4 24 | 24.8% | — | ||
| Q3 24 | 23.1% | 23.2% | ||
| Q2 24 | 16.6% | 21.3% | ||
| Q1 24 | 16.2% | 21.6% |
营业利润率LITEVNET
| Q4 25 | 9.7% | — | ||
| Q3 25 | 1.3% | 0.5% | ||
| Q2 25 | -1.7% | — | ||
| Q1 25 | -8.9% | 0.1% | ||
| Q4 24 | -12.8% | — | ||
| Q3 24 | -24.5% | 24.5% | ||
| Q2 24 | -43.3% | 0.2% | ||
| Q1 24 | -31.3% | 0.2% |
净利率LITEVNET
| Q4 25 | 11.8% | — | ||
| Q3 25 | 0.8% | -10.7% | ||
| Q2 25 | 44.4% | — | ||
| Q1 25 | -10.4% | -0.8% | ||
| Q4 24 | -15.1% | — | ||
| Q3 24 | -24.5% | -0.7% | ||
| Q2 24 | -81.9% | -0.4% | ||
| Q1 24 | -34.7% | -8.4% |
每股收益（稀释后）LITEVNET
| Q4 25 | $0.89 | — | ||
| Q3 25 | $0.05 | — | ||
| Q2 25 | $3.10 | — | ||
| Q1 25 | $-0.64 | — | ||
| Q4 24 | $-0.88 | — | ||
| Q3 24 | $-1.21 | — | ||
| Q2 24 | $-3.75 | — | ||
| Q1 24 | $-1.88 | — |
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 | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $846.6M | $890.8M |
| 总资产 | $4.8B | $6.1B |
| 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LITEVNET
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.1B | $492.1M | ||
| Q2 25 | $877.1M | — | ||
| Q1 25 | $866.7M | $544.3M | ||
| Q4 24 | $896.7M | — | ||
| Q3 24 | $916.1M | $219.5M | ||
| Q2 24 | $887.0M | $247.2M | ||
| Q1 24 | $870.9M | $246.9M |
总债务LITEVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LITEVNET
| Q4 25 | $846.6M | — | ||
| Q3 25 | $780.8M | $890.8M | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $879.5M | $927.8M | ||
| Q4 24 | $872.3M | — | ||
| Q3 24 | $895.9M | $902.9M | ||
| Q2 24 | $957.3M | $900.6M | ||
| Q1 24 | $1.2B | $895.1M |
总资产LITEVNET
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.6B | $6.1B | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.0B | $5.4B | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $4.0B | $4.3B | ||
| Q2 24 | $3.9B | $4.0B | ||
| Q1 24 | $4.2B | $3.9B |
负债/权益比LITEVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $43.1M | $-193.1M |
| 自由现金流率自由现金流/营收 | 6.5% | -53.2% |
| 资本支出强度资本支出/营收 | 12.6% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.62× | — |
| 过去12个月自由现金流最近4个季度 | $-29.5M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流LITEVNET
| Q4 25 | $126.7M | — | ||
| Q3 25 | $57.9M | $113.8M | ||
| Q2 25 | $64.0M | — | ||
| Q1 25 | $-1.6M | $27.0M | ||
| Q4 24 | $24.3M | — | ||
| Q3 24 | $39.6M | $108.3M | ||
| Q2 24 | $35.5M | $55.8M | ||
| Q1 24 | $-7.0M | $37.1M |
自由现金流LITEVNET
| Q4 25 | $43.1M | — | ||
| Q3 25 | $-18.3M | $-193.1M | ||
| Q2 25 | $10.1M | — | ||
| Q1 25 | $-64.4M | $-220.0M | ||
| Q4 24 | $-15.9M | — | ||
| Q3 24 | $-34.5M | $-95.0M | ||
| Q2 24 | $10.9M | $-81.6M | ||
| Q1 24 | $-26.6M | $-102.2M |
自由现金流率LITEVNET
| Q4 25 | 6.5% | — | ||
| Q3 25 | -3.4% | -53.2% | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | -15.1% | -71.1% | ||
| Q4 24 | -4.0% | — | ||
| Q3 24 | -10.2% | -31.4% | ||
| Q2 24 | 3.5% | -29.8% | ||
| Q1 24 | -7.3% | -38.9% |
资本支出强度LITEVNET
| Q4 25 | 12.6% | — | ||
| Q3 25 | 14.3% | 84.6% | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | 14.8% | 79.8% | ||
| Q4 24 | 10.0% | — | ||
| Q3 24 | 22.0% | 67.3% | ||
| Q2 24 | 8.0% | 50.1% | ||
| Q1 24 | 5.3% | 53.0% |
现金转化率LITEVNET
| Q4 25 | 1.62× | — | ||
| Q3 25 | 13.79× | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
VNET
暂无分部数据
