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朗美通（LITE）与West Pharmaceutical Services（WST）财务数据对比。点击上方公司名可切换其他公司
West Pharmaceutical Services的季度营收约是朗美通的1.2倍（$805.0M vs $665.5M），West Pharmaceutical Services净利率更高（16.4% vs 11.8%，领先4.7%），朗美通同比增速更快（65.5% vs 7.5%），West Pharmaceutical Services自由现金流更多（$175.0M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs 7.6%）
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。
美国West Pharmaceutical Services是注射用药品包装及给药系统的设计和制造商，1923年成立，总部位于宾夕法尼亚州埃克斯顿。成立初期主营注射类药物包装用橡胶组件，曾为青霉素和胰岛素生产商提供符合无菌要求的配套产品。
LITE vs WST — 直观对比
营收规模更大
WST
是对方的1.2倍
$665.5M
营收增速更快
LITE
高出58.0%
7.5%
净利率更高
WST
高出4.7%
11.8%
自由现金流更多
WST
多$131.9M
$43.1M
两年增速更快
LITE
近两年复合增速
7.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $805.0M |
| 净利润 | $78.2M | $132.1M |
| 毛利率 | 36.1% | 37.8% |
| 营业利润率 | 9.7% | 19.5% |
| 净利率 | 11.8% | 16.4% |
| 营收同比 | 65.5% | 7.5% |
| 净利润同比 | 228.4% | 1.5% |
| 每股收益（稀释后） | $0.89 | $1.82 |
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LITEWST
| Q4 25 | $665.5M | $805.0M | ||
| Q3 25 | $533.8M | $804.6M | ||
| Q2 25 | $480.7M | $766.5M | ||
| Q1 25 | $425.2M | $698.0M | ||
| Q4 24 | $402.2M | $748.8M | ||
| Q3 24 | $336.9M | $746.9M | ||
| Q2 24 | $308.3M | $702.1M | ||
| Q1 24 | $366.5M | $695.4M |
净利润LITEWST
| Q4 25 | $78.2M | $132.1M | ||
| Q3 25 | $4.2M | $140.0M | ||
| Q2 25 | $213.3M | $131.8M | ||
| Q1 25 | $-44.1M | $89.8M | ||
| Q4 24 | $-60.9M | $130.1M | ||
| Q3 24 | $-82.4M | $136.0M | ||
| Q2 24 | $-252.5M | $111.3M | ||
| Q1 24 | $-127.0M | $115.3M |
毛利率LITEWST
| Q4 25 | 36.1% | 37.8% | ||
| Q3 25 | 34.0% | 36.6% | ||
| Q2 25 | 33.3% | 35.7% | ||
| Q1 25 | 28.8% | 33.2% | ||
| Q4 24 | 24.8% | 36.5% | ||
| Q3 24 | 23.1% | 35.4% | ||
| Q2 24 | 16.6% | 32.8% | ||
| Q1 24 | 16.2% | 33.1% |
营业利润率LITEWST
| Q4 25 | 9.7% | 19.5% | ||
| Q3 25 | 1.3% | 20.8% | ||
| Q2 25 | -1.7% | 20.1% | ||
| Q1 25 | -8.9% | 15.3% | ||
| Q4 24 | -12.8% | 21.3% | ||
| Q3 24 | -24.5% | 21.6% | ||
| Q2 24 | -43.3% | 18.0% | ||
| Q1 24 | -31.3% | 17.7% |
净利率LITEWST
| Q4 25 | 11.8% | 16.4% | ||
| Q3 25 | 0.8% | 17.4% | ||
| Q2 25 | 44.4% | 17.2% | ||
| Q1 25 | -10.4% | 12.9% | ||
| Q4 24 | -15.1% | 17.4% | ||
| Q3 24 | -24.5% | 18.2% | ||
| Q2 24 | -81.9% | 15.9% | ||
| Q1 24 | -34.7% | 16.6% |
每股收益（稀释后）LITEWST
| Q4 25 | $0.89 | $1.82 | ||
| Q3 25 | $0.05 | $1.92 | ||
| Q2 25 | $3.10 | $1.82 | ||
| Q1 25 | $-0.64 | $1.23 | ||
| Q4 24 | $-0.88 | $1.78 | ||
| Q3 24 | $-1.21 | $1.85 | ||
| Q2 24 | $-3.75 | $1.51 | ||
| Q1 24 | $-1.88 | $1.55 |
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 | $791.3M |
| 总债务越低越好 | — | $202.8M |
| 股东权益账面价值 | $846.6M | $3.2B |
| 总资产 | $4.8B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资LITEWST
| Q4 25 | $1.2B | $791.3M | ||
| Q3 25 | $1.1B | $628.5M | ||
| Q2 25 | $877.1M | $509.7M | ||
| Q1 25 | $866.7M | $404.2M | ||
| Q4 24 | $896.7M | $484.6M | ||
| Q3 24 | $916.1M | $490.9M | ||
| Q2 24 | $887.0M | $446.2M | ||
| Q1 24 | $870.9M | $601.8M |
总债务LITEWST
| Q4 25 | — | $202.8M | ||
| Q3 25 | — | $202.7M | ||
| Q2 25 | — | $202.6M | ||
| Q1 25 | — | $202.6M | ||
| Q4 24 | — | $202.6M | ||
| Q3 24 | — | $202.6M | ||
| Q2 24 | — | $205.8M | ||
| Q1 24 | — | $206.2M |
股东权益LITEWST
| Q4 25 | $846.6M | $3.2B | ||
| Q3 25 | $780.8M | $3.1B | ||
| Q2 25 | $1.1B | $2.9B | ||
| Q1 25 | $879.5M | $2.7B | ||
| Q4 24 | $872.3M | $2.7B | ||
| Q3 24 | $895.9M | $2.8B | ||
| Q2 24 | $957.3M | $2.6B | ||
| Q1 24 | $1.2B | $2.7B |
总资产LITEWST
| Q4 25 | $4.8B | $4.3B | ||
| Q3 25 | $4.6B | $4.1B | ||
| Q2 25 | $4.2B | $4.0B | ||
| Q1 25 | $4.0B | $3.6B | ||
| Q4 24 | $4.0B | $3.6B | ||
| Q3 24 | $4.0B | $3.7B | ||
| Q2 24 | $3.9B | $3.5B | ||
| Q1 24 | $4.2B | $3.6B |
负债/权益比LITEWST
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.08× |
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 | $251.1M |
| 自由现金流经营现金流 - 资本支出 | $43.1M | $175.0M |
| 自由现金流率自由现金流/营收 | 6.5% | 21.7% |
| 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× | 1.90× |
| 过去12个月自由现金流最近4个季度 | $-29.5M | $468.9M |
8季度趋势，按日历期对齐
经营现金流LITEWST
| Q4 25 | $126.7M | $251.1M | ||
| Q3 25 | $57.9M | $197.2M | ||
| Q2 25 | $64.0M | $177.1M | ||
| Q1 25 | $-1.6M | $129.4M | ||
| Q4 24 | $24.3M | $190.1M | ||
| Q3 24 | $39.6M | $180.1M | ||
| Q2 24 | $35.5M | $165.0M | ||
| Q1 24 | $-7.0M | $118.2M |
自由现金流LITEWST
| Q4 25 | $43.1M | $175.0M | ||
| Q3 25 | $-18.3M | $133.9M | ||
| Q2 25 | $10.1M | $101.9M | ||
| Q1 25 | $-64.4M | $58.1M | ||
| Q4 24 | $-15.9M | $85.2M | ||
| Q3 24 | $-34.5M | $98.8M | ||
| Q2 24 | $10.9M | $64.8M | ||
| Q1 24 | $-26.6M | $27.6M |
自由现金流率LITEWST
| Q4 25 | 6.5% | 21.7% | ||
| Q3 25 | -3.4% | 16.6% | ||
| Q2 25 | 2.1% | 13.3% | ||
| Q1 25 | -15.1% | 8.3% | ||
| Q4 24 | -4.0% | 11.4% | ||
| Q3 24 | -10.2% | 13.2% | ||
| Q2 24 | 3.5% | 9.2% | ||
| Q1 24 | -7.3% | 4.0% |
资本支出强度LITEWST
| Q4 25 | 12.6% | 9.5% | ||
| Q3 25 | 14.3% | 7.9% | ||
| Q2 25 | 11.2% | 9.8% | ||
| Q1 25 | 14.8% | 10.2% | ||
| Q4 24 | 10.0% | 14.0% | ||
| Q3 24 | 22.0% | 10.9% | ||
| Q2 24 | 8.0% | 14.3% | ||
| Q1 24 | 5.3% | 13.0% |
现金转化率LITEWST
| Q4 25 | 1.62× | 1.90× | ||
| Q3 25 | 13.79× | 1.41× | ||
| Q2 25 | 0.30× | 1.34× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 1.46× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | — | 1.48× | ||
| Q1 24 | — | 1.03× |
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% |
WST
| Proprietary Products | $661.8M | 82% |
| Contract Manufactured Products | $143.2M | 18% |
| Affiliated Entity | $3.3M | 0% |
