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莱迪思半导体（LSCC）与MARTIN MIDSTREAM PARTNERS L.P.（MMLP）财务数据对比。点击上方公司名可切换其他公司
MARTIN MIDSTREAM PARTNERS L.P.的季度营收约是莱迪思半导体的1.3倍（$187.7M vs $145.8M），MARTIN MIDSTREAM PARTNERS L.P.净利率更高（1.7% vs -5.2%，领先6.9%），莱迪思半导体同比增速更快（24.2% vs -2.5%），莱迪思半导体自由现金流更多（$44.0M vs $-6.0M），过去两年莱迪思半导体的营收复合增速更高（1.8% vs 0.8%）
莱迪思半导体是美国专注于低功耗现场可编程门阵列（FPGA）设计制造的半导体企业，1983年成立，1989年上市，总部位于俄勒冈州希尔斯伯勒硅林区，在圣何塞、上海、马尼拉、槟城、新加坡等地设有运营网点，截至2022年员工超1000人，年营收超6.6亿美元。
Martin Midstream Partners L.P.是美国中游能源服务提供商，主营原油、天然气液、精炼石油产品及特种化学品的存储、运输、分销与加工服务，主要服务北美能源及工业领域客户。
LSCC vs MMLP — 直观对比
营收规模更大
MMLP
是对方的1.3倍
$145.8M
营收增速更快
LSCC
高出26.7%
-2.5%
净利率更高
MMLP
高出6.9%
-5.2%
自由现金流更多
LSCC
多$50.0M
$-6.0M
两年增速更快
LSCC
近两年复合增速
0.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $145.8M | $187.7M |
| 净利润 | $-7.6M | $3.2M |
| 毛利率 | 68.5% | — |
| 营业利润率 | 0.7% | 4.1% |
| 净利率 | -5.2% | 1.7% |
| 营收同比 | 24.2% | -2.5% |
| 净利润同比 | -146.3% | -37.1% |
| 每股收益（稀释后） | $-0.06 | — |
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LSCCMMLP
| Q1 26 | $145.8M | $187.7M | ||
| Q4 25 | — | $174.2M | ||
| Q3 25 | $133.3M | $168.7M | ||
| Q2 25 | $124.0M | $180.7M | ||
| Q1 25 | $120.2M | $192.5M | ||
| Q4 24 | $117.4M | $171.3M | ||
| Q3 24 | $127.1M | $170.9M | ||
| Q2 24 | $124.1M | $184.5M |
净利润LSCCMMLP
| Q1 26 | $-7.6M | $3.2M | ||
| Q4 25 | — | $-2.9M | ||
| Q3 25 | $2.8M | $-8.4M | ||
| Q2 25 | $2.9M | $-2.4M | ||
| Q1 25 | $5.0M | $-1.0M | ||
| Q4 24 | $16.5M | $-8.9M | ||
| Q3 24 | $7.2M | $-3.3M | ||
| Q2 24 | $22.6M | $3.8M |
毛利率LSCCMMLP
| Q1 26 | 68.5% | — | ||
| Q4 25 | — | 57.1% | ||
| Q3 25 | 67.9% | 55.1% | ||
| Q2 25 | 68.4% | 56.5% | ||
| Q1 25 | 68.0% | 53.5% | ||
| Q4 24 | 61.1% | 58.2% | ||
| Q3 24 | 69.0% | 58.5% | ||
| Q2 24 | 68.3% | 58.4% |
营业利润率LSCCMMLP
| Q1 26 | 0.7% | 4.1% | ||
| Q4 25 | — | 7.3% | ||
| Q3 25 | -1.2% | 4.1% | ||
| Q2 25 | 3.8% | 8.2% | ||
| Q1 25 | 5.8% | 7.5% | ||
| Q4 24 | -10.4% | 4.0% | ||
| Q3 24 | 5.9% | 7.4% | ||
| Q2 24 | 18.2% | 10.8% |
净利率LSCCMMLP
| Q1 26 | -5.2% | 1.7% | ||
| Q4 25 | — | -1.7% | ||
| Q3 25 | 2.1% | -5.0% | ||
| Q2 25 | 2.3% | -1.3% | ||
| Q1 25 | 4.2% | -0.5% | ||
| Q4 24 | 14.1% | -5.2% | ||
| Q3 24 | 5.7% | -1.9% | ||
| Q2 24 | 18.2% | 2.0% |
每股收益（稀释后）LSCCMMLP
| Q1 26 | $-0.06 | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $0.02 | — | ||
| Q2 25 | $0.02 | — | ||
| Q1 25 | $0.04 | — | ||
| Q4 24 | $0.12 | — | ||
| Q3 24 | $0.05 | — | ||
| Q2 24 | $0.16 | — |
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 | $133.9M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $714.1M | — |
| 总资产 | $883.1M | $537.1M |
| 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LSCCMMLP
| Q1 26 | $133.9M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $117.9M | — | ||
| Q2 25 | $107.2M | — | ||
| Q1 25 | $127.6M | — | ||
| Q4 24 | $136.3M | — | ||
| Q3 24 | $124.3M | — | ||
| Q2 24 | $109.2M | — |
总债务LSCCMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | $428.0M | ||
| Q3 25 | — | $441.3M | ||
| Q2 25 | — | $427.8M | ||
| Q1 25 | — | $451.4M | ||
| Q4 24 | — | $437.6M | ||
| Q3 24 | — | $469.3M | ||
| Q2 24 | — | $439.4M |
股东权益LSCCMMLP
| Q1 26 | $714.1M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $706.4M | — | ||
| Q2 25 | $687.0M | — | ||
| Q1 25 | $707.9M | — | ||
| Q4 24 | $710.9M | — | ||
| Q3 24 | $703.5M | — | ||
| Q2 24 | $698.8M | — |
总资产LSCCMMLP
| Q1 26 | $883.1M | $537.1M | ||
| Q4 25 | — | $522.4M | ||
| Q3 25 | $844.4M | $510.1M | ||
| Q2 25 | $808.6M | $515.6M | ||
| Q1 25 | $823.6M | $533.4M | ||
| Q4 24 | $843.9M | $538.5M | ||
| Q3 24 | $853.7M | $554.8M | ||
| Q2 24 | $827.5M | $535.1M |
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 | $57.6M | — |
| 自由现金流经营现金流 - 资本支出 | $44.0M | $-6.0M |
| 自由现金流率自由现金流/营收 | 30.2% | -3.2% |
| 资本支出强度资本支出/营收 | 9.3% | 1.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $132.6M | $27.2M |
8季度趋势，按日历期对齐
经营现金流LSCCMMLP
| Q1 26 | $57.6M | — | ||
| Q4 25 | — | $22.4M | ||
| Q3 25 | $47.1M | $-1.2M | ||
| Q2 25 | $38.5M | $30.9M | ||
| Q1 25 | $31.9M | $-6.0M | ||
| Q4 24 | $45.4M | $42.2M | ||
| Q3 24 | $44.0M | $-15.8M | ||
| Q2 24 | $21.9M | $11.8M |
自由现金流LSCCMMLP
| Q1 26 | $44.0M | $-6.0M | ||
| Q4 25 | — | $15.6M | ||
| Q3 25 | $34.0M | $-7.9M | ||
| Q2 25 | $31.3M | $25.6M | ||
| Q1 25 | $23.3M | $-11.9M | ||
| Q4 24 | $39.7M | $34.2M | ||
| Q3 24 | $39.4M | $-25.6M | ||
| Q2 24 | $14.8M | $-696.0K |
自由现金流率LSCCMMLP
| Q1 26 | 30.2% | -3.2% | ||
| Q4 25 | — | 8.9% | ||
| Q3 25 | 25.5% | -4.7% | ||
| Q2 25 | 25.2% | 14.2% | ||
| Q1 25 | 19.4% | -6.2% | ||
| Q4 24 | 33.8% | 20.0% | ||
| Q3 24 | 31.0% | -15.0% | ||
| Q2 24 | 11.9% | -0.4% |
资本支出强度LSCCMMLP
| Q1 26 | 9.3% | 1.6% | ||
| Q4 25 | — | 3.9% | ||
| Q3 25 | 9.8% | 4.0% | ||
| Q2 25 | 5.8% | 3.0% | ||
| Q1 25 | 7.2% | 3.1% | ||
| Q4 24 | 4.9% | 4.6% | ||
| Q3 24 | 3.7% | 5.8% | ||
| Q2 24 | 5.8% | 6.8% |
现金转化率LSCCMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 16.86× | — | ||
| Q2 25 | 13.23× | — | ||
| Q1 25 | 6.35× | — | ||
| Q4 24 | 2.75× | — | ||
| Q3 24 | 6.12× | — | ||
| Q2 24 | 0.97× | 3.13× |
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
LSCC
| Asia | $106.3M | 73% |
| Americas | $21.0M | 14% |
| Europe | $18.5M | 13% |
MMLP
| Specialty products | $61.6M | 33% |
| Transportation * | $52.8M | 28% |
| Other | $46.5M | 25% |
| Terminalling and storage * | $22.4M | 12% |
| Sulfur services | $4.4M | 2% |
