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Lumen Technologies, Inc.（LUMN）与NetApp（NTAP）财务数据对比。点击上方公司名可切换其他公司
Lumen Technologies, Inc.的季度营收约是NetApp的1.6倍（$2.7B vs $1.7B），NetApp净利率更高（17.9% vs -0.1%，领先18.0%），NetApp同比增速更快（2.8% vs -11.0%），NetApp自由现金流更多（$78.0M vs $-1.1B），过去两年NetApp的营收复合增速更高（3.0% vs -5.3%）
Lumen Technologies是总部位于美国路易斯安那州门罗市的电信企业，依托自有光纤、铜线网络、数据中心及云计算资源，为客户提供网络、安全、云、语音及各类托管通信服务，2023年3月起纳入标普600指数，此前曾为标普500指数成分股。
NetApp是总部位于美国加利福尼亚州圣何塞的企业级数据基础设施服务商，成立于1992年，2012至2021年连续入选《财富》世界500强。公司面向全球企业客户提供统一数据存储、集成数据服务及云运营解决方案，可满足线上线下全场景的应用与数据管理需求。
LUMN vs NTAP — 直观对比
营收规模更大
LUMN
是对方的1.6倍
$1.7B
营收增速更快
NTAP
高出13.8%
-11.0%
净利率更高
NTAP
高出18.0%
-0.1%
自由现金流更多
NTAP
多$1.2B
$-1.1B
两年增速更快
NTAP
近两年复合增速
-5.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $1.7B |
| 净利润 | $-2.0M | $305.0M |
| 毛利率 | 40.7% | 72.0% |
| 营业利润率 | -7.3% | 23.4% |
| 净利率 | -0.1% | 17.9% |
| 营收同比 | -11.0% | 2.8% |
| 净利润同比 | -102.4% | 2.0% |
| 每股收益（稀释后） | $-0.01 | $1.51 |
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LUMNNTAP
| Q4 25 | $2.7B | $1.7B | ||
| Q3 25 | $2.8B | $1.6B | ||
| Q2 25 | $2.9B | $1.7B | ||
| Q1 25 | $2.9B | $1.6B | ||
| Q4 24 | $3.1B | $1.7B | ||
| Q3 24 | $3.0B | $1.5B | ||
| Q2 24 | $3.0B | $1.7B | ||
| Q1 24 | $3.1B | $1.6B |
净利润LUMNNTAP
| Q4 25 | $-2.0M | $305.0M | ||
| Q3 25 | $-621.0M | $233.0M | ||
| Q2 25 | $-915.0M | $340.0M | ||
| Q1 25 | $-201.0M | $299.0M | ||
| Q4 24 | $85.0M | $299.0M | ||
| Q3 24 | $-148.0M | $248.0M | ||
| Q2 24 | $-49.0M | $291.0M | ||
| Q1 24 | $57.0M | $313.0M |
毛利率LUMNNTAP
| Q4 25 | 40.7% | 72.0% | ||
| Q3 25 | 39.4% | 70.4% | ||
| Q2 25 | 43.4% | 68.9% | ||
| Q1 25 | 42.0% | 69.8% | ||
| Q4 24 | 44.7% | 71.0% | ||
| Q3 24 | 43.0% | 71.3% | ||
| Q2 24 | 45.2% | 70.5% | ||
| Q1 24 | 46.0% | 71.7% |
营业利润率LUMNNTAP
| Q4 25 | -7.3% | 23.4% | ||
| Q3 25 | -4.1% | 19.8% | ||
| Q2 25 | -21.0% | 20.1% | ||
| Q1 25 | 3.7% | 22.1% | ||
| Q4 24 | 5.0% | 20.8% | ||
| Q3 24 | 4.2% | 18.3% | ||
| Q2 24 | 4.5% | 21.9% | ||
| Q1 24 | 1.5% | 22.8% |
净利率LUMNNTAP
| Q4 25 | -0.1% | 17.9% | ||
| Q3 25 | -22.1% | 14.9% | ||
| Q2 25 | -31.9% | 19.6% | ||
| Q1 25 | -6.9% | 18.2% | ||
| Q4 24 | 2.8% | 18.0% | ||
| Q3 24 | -5.0% | 16.1% | ||
| Q2 24 | -1.6% | 17.4% | ||
| Q1 24 | 1.9% | 19.5% |
每股收益（稀释后）LUMNNTAP
| Q4 25 | $-0.01 | $1.51 | ||
| Q3 25 | $-0.62 | $1.15 | ||
| Q2 25 | $-0.92 | $1.64 | ||
| Q1 25 | $-0.20 | $1.44 | ||
| Q4 24 | $0.08 | $1.42 | ||
| Q3 24 | $-0.15 | $1.17 | ||
| Q2 24 | $-0.05 | $1.36 | ||
| Q1 24 | $0.06 | $1.48 |
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 | $1.0B | $3.0B |
| 总债务越低越好 | $17.4B | $2.5B |
| 股东权益账面价值 | $-1.1B | $986.0M |
| 总资产 | $34.3B | $9.6B |
| 负债/权益比越低杠杆越低 | — | 2.52× |
8季度趋势，按日历期对齐
现金及短期投资LUMNNTAP
| Q4 25 | $1.0B | $3.0B | ||
| Q3 25 | $2.4B | $3.3B | ||
| Q2 25 | $1.6B | $3.8B | ||
| Q1 25 | $1.9B | $2.3B | ||
| Q4 24 | $1.9B | $2.2B | ||
| Q3 24 | $2.6B | $3.0B | ||
| Q2 24 | $1.5B | $3.3B | ||
| Q1 24 | $1.6B | $2.9B |
总债务LUMNNTAP
| Q4 25 | $17.4B | $2.5B | ||
| Q3 25 | $17.6B | $2.5B | ||
| Q2 25 | $17.6B | $3.2B | ||
| Q1 25 | $17.3B | $2.0B | ||
| Q4 24 | $17.5B | $2.0B | ||
| Q3 24 | $18.1B | $2.4B | ||
| Q2 24 | $18.4B | $2.4B | ||
| Q1 24 | $18.6B | $2.4B |
股东权益LUMNNTAP
| Q4 25 | $-1.1B | $986.0M | ||
| Q3 25 | $-1.2B | $975.0M | ||
| Q2 25 | $-595.0M | $1.0B | ||
| Q1 25 | $289.0M | $995.0M | ||
| Q4 24 | $464.0M | $892.0M | ||
| Q3 24 | $342.0M | $929.0M | ||
| Q2 24 | $466.0M | $1.1B | ||
| Q1 24 | $504.0M | $994.0M |
总资产LUMNNTAP
| Q4 25 | $34.3B | $9.6B | ||
| Q3 25 | $34.3B | $9.7B | ||
| Q2 25 | $33.0B | $10.8B | ||
| Q1 25 | $33.5B | $9.0B | ||
| Q4 24 | $33.5B | $9.0B | ||
| Q3 24 | $34.0B | $9.3B | ||
| Q2 24 | $32.9B | $9.9B | ||
| Q1 24 | $33.2B | $9.4B |
负债/权益比LUMNNTAP
| Q4 25 | — | 2.52× | ||
| Q3 25 | — | 2.55× | ||
| Q2 25 | — | 3.11× | ||
| Q1 25 | 59.98× | 2.00× | ||
| Q4 24 | 37.70× | 2.23× | ||
| Q3 24 | 53.05× | 2.58× | ||
| Q2 24 | 39.51× | 2.09× | ||
| Q1 24 | 36.89× | 2.41× |
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 | $562.0M | $127.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.1B | $78.0M |
| 自由现金流率自由现金流/营收 | -39.4% | 4.6% |
| 资本支出强度资本支出/营收 | 59.9% | 2.9% |
| 现金转化率经营现金流/净利润 | — | 0.42× |
| 过去12个月自由现金流最近4个季度 | $371.0M | — |
8季度趋势，按日历期对齐
经营现金流LUMNNTAP
| Q4 25 | $562.0M | $127.0M | ||
| Q3 25 | $2.5B | $673.0M | ||
| Q2 25 | $570.0M | — | ||
| Q1 25 | $1.1B | $385.0M | ||
| Q4 24 | $688.0M | — | ||
| Q3 24 | $2.0B | $341.0M | ||
| Q2 24 | $511.0M | $613.0M | ||
| Q1 24 | $1.1B | $484.0M |
自由现金流LUMNNTAP
| Q4 25 | $-1.1B | $78.0M | ||
| Q3 25 | $1.5B | $620.0M | ||
| Q2 25 | $-321.0M | — | ||
| Q1 25 | $304.0M | $338.0M | ||
| Q4 24 | $-227.0M | — | ||
| Q3 24 | $1.2B | $300.0M | ||
| Q2 24 | $-242.0M | $567.0M | ||
| Q1 24 | $389.0M | $448.0M |
自由现金流率LUMNNTAP
| Q4 25 | -39.4% | 4.6% | ||
| Q3 25 | 52.4% | 39.8% | ||
| Q2 25 | -11.2% | — | ||
| Q1 25 | 10.4% | 20.6% | ||
| Q4 24 | -7.4% | — | ||
| Q3 24 | 39.8% | 19.5% | ||
| Q2 24 | -8.0% | 34.0% | ||
| Q1 24 | 12.7% | 27.9% |
资本支出强度LUMNNTAP
| Q4 25 | 59.9% | 2.9% | ||
| Q3 25 | 37.1% | 3.4% | ||
| Q2 25 | 31.1% | — | ||
| Q1 25 | 27.2% | 2.9% | ||
| Q4 24 | 29.7% | — | ||
| Q3 24 | 28.6% | 2.7% | ||
| Q2 24 | 25.0% | 2.8% | ||
| Q1 24 | 23.3% | 2.2% |
现金转化率LUMNNTAP
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 2.89× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.29× | ||
| Q4 24 | 8.09× | — | ||
| Q3 24 | — | 1.38× | ||
| Q2 24 | — | 2.11× | ||
| Q1 24 | 19.33× | 1.55× |
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
LUMN
| Large Enterprise | $758.0M | 28% |
| Wholesale | $661.0M | 24% |
| Mid Market Enterprise | $472.0M | 17% |
| Fiber Broadband | $232.0M | 8% |
| Other Broadband | $218.0M | 8% |
| Other | $184.0M | 7% |
| Voice And Other | $166.0M | 6% |
| International And Other | $77.0M | 3% |
NTAP
| Products | $788.0M | 46% |
| Support | $647.0M | 38% |
| Public Cloud Segment | $171.0M | 10% |
| Professional And Other Services | $99.0M | 6% |
