vs
Lumen Technologies, Inc.（LUMN）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
Lumen Technologies, Inc.的季度营收约是瑞思迈的1.9倍（$2.7B vs $1.4B），瑞思迈净利率更高（27.6% vs -0.1%，领先27.7%），瑞思迈同比增速更快（11.0% vs -11.0%），瑞思迈自由现金流更多（$311.2M vs $-1.1B），过去两年瑞思迈的营收复合增速更高（9.0% 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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
LUMN vs RMD — 直观对比
营收规模更大
LUMN
是对方的1.9倍
$1.4B
营收增速更快
RMD
高出21.9%
-11.0%
净利率更高
RMD
高出27.7%
-0.1%
自由现金流更多
RMD
多$1.4B
$-1.1B
两年增速更快
RMD
近两年复合增速
-5.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $1.4B |
| 净利润 | $-2.0M | $392.6M |
| 毛利率 | 40.7% | 61.8% |
| 营业利润率 | -7.3% | 34.6% |
| 净利率 | -0.1% | 27.6% |
| 营收同比 | -11.0% | 11.0% |
| 净利润同比 | -102.4% | 13.9% |
| 每股收益（稀释后） | $-0.01 | $2.68 |
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LUMNRMD
| Q4 25 | $2.7B | $1.4B | ||
| Q3 25 | $2.8B | $1.3B | ||
| Q2 25 | $2.9B | $1.3B | ||
| Q1 25 | $2.9B | $1.3B | ||
| Q4 24 | $3.1B | $1.3B | ||
| Q3 24 | $3.0B | $1.2B | ||
| Q2 24 | $3.0B | $1.2B | ||
| Q1 24 | $3.1B | $1.2B |
净利润LUMNRMD
| Q4 25 | $-2.0M | $392.6M | ||
| Q3 25 | $-621.0M | $348.5M | ||
| Q2 25 | $-915.0M | $379.7M | ||
| Q1 25 | $-201.0M | $365.0M | ||
| Q4 24 | $85.0M | $344.6M | ||
| Q3 24 | $-148.0M | $311.4M | ||
| Q2 24 | $-49.0M | $292.2M | ||
| Q1 24 | $57.0M | $300.5M |
毛利率LUMNRMD
| Q4 25 | 40.7% | 61.8% | ||
| Q3 25 | 39.4% | 61.5% | ||
| Q2 25 | 43.4% | 60.8% | ||
| Q1 25 | 42.0% | 59.3% | ||
| Q4 24 | 44.7% | 58.6% | ||
| Q3 24 | 43.0% | 58.6% | ||
| Q2 24 | 45.2% | 58.5% | ||
| Q1 24 | 46.0% | 57.9% |
营业利润率LUMNRMD
| Q4 25 | -7.3% | 34.6% | ||
| Q3 25 | -4.1% | 33.4% | ||
| Q2 25 | -21.0% | 33.7% | ||
| Q1 25 | 3.7% | 33.0% | ||
| Q4 24 | 5.0% | 32.5% | ||
| Q3 24 | 4.2% | 31.6% | ||
| Q2 24 | 4.5% | 31.2% | ||
| Q1 24 | 1.5% | 31.3% |
净利率LUMNRMD
| Q4 25 | -0.1% | 27.6% | ||
| Q3 25 | -22.1% | 26.1% | ||
| Q2 25 | -31.9% | 28.2% | ||
| Q1 25 | -6.9% | 28.3% | ||
| Q4 24 | 2.8% | 26.9% | ||
| Q3 24 | -5.0% | 25.4% | ||
| Q2 24 | -1.6% | 23.9% | ||
| Q1 24 | 1.9% | 25.1% |
每股收益（稀释后）LUMNRMD
| Q4 25 | $-0.01 | $2.68 | ||
| Q3 25 | $-0.62 | $2.37 | ||
| Q2 25 | $-0.92 | $2.58 | ||
| Q1 25 | $-0.20 | $2.48 | ||
| Q4 24 | $0.08 | $2.34 | ||
| Q3 24 | $-0.15 | $2.11 | ||
| Q2 24 | $-0.05 | $1.97 | ||
| Q1 24 | $0.06 | $2.04 |
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 | $1.4B |
| 总债务越低越好 | $17.4B | $403.9M |
| 股东权益账面价值 | $-1.1B | $6.3B |
| 总资产 | $34.3B | $8.5B |
| 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LUMNRMD
| Q4 25 | $1.0B | $1.4B | ||
| Q3 25 | $2.4B | $1.4B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.9B | $932.7M | ||
| Q4 24 | $1.9B | $521.9M | ||
| Q3 24 | $2.6B | $426.4M | ||
| Q2 24 | $1.5B | $238.4M | ||
| Q1 24 | $1.6B | $237.9M |
总债务LUMNRMD
| Q4 25 | $17.4B | $403.9M | ||
| Q3 25 | $17.6B | $408.7M | ||
| Q2 25 | $17.6B | $658.4M | ||
| Q1 25 | $17.3B | $663.1M | ||
| Q4 24 | $17.5B | $662.9M | ||
| Q3 24 | $18.1B | $667.6M | ||
| Q2 24 | $18.4B | $697.3M | ||
| Q1 24 | $18.6B | $997.0M |
股东权益LUMNRMD
| Q4 25 | $-1.1B | $6.3B | ||
| Q3 25 | $-1.2B | $6.1B | ||
| Q2 25 | $-595.0M | $6.0B | ||
| Q1 25 | $289.0M | $5.5B | ||
| Q4 24 | $464.0M | $5.3B | ||
| Q3 24 | $342.0M | $5.2B | ||
| Q2 24 | $466.0M | $4.9B | ||
| Q1 24 | $504.0M | $4.6B |
总资产LUMNRMD
| Q4 25 | $34.3B | $8.5B | ||
| Q3 25 | $34.3B | $8.3B | ||
| Q2 25 | $33.0B | $8.2B | ||
| Q1 25 | $33.5B | $7.6B | ||
| Q4 24 | $33.5B | $7.1B | ||
| Q3 24 | $34.0B | $7.2B | ||
| Q2 24 | $32.9B | $6.9B | ||
| Q1 24 | $33.2B | $6.8B |
负债/权益比LUMNRMD
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | 59.98× | 0.12× | ||
| Q4 24 | 37.70× | 0.13× | ||
| Q3 24 | 53.05× | 0.13× | ||
| Q2 24 | 39.51× | 0.14× | ||
| Q1 24 | 36.89× | 0.22× |
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 | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $-1.1B | $311.2M |
| 自由现金流率自由现金流/营收 | -39.4% | 21.9% |
| 资本支出强度资本支出/营收 | 59.9% | 2.0% |
| 现金转化率经营现金流/净利润 | — | 0.87× |
| 过去12个月自由现金流最近4个季度 | $371.0M | $1.8B |
8季度趋势，按日历期对齐
经营现金流LUMNRMD
| Q4 25 | $562.0M | $339.7M | ||
| Q3 25 | $2.5B | $457.3M | ||
| Q2 25 | $570.0M | $538.8M | ||
| Q1 25 | $1.1B | $578.7M | ||
| Q4 24 | $688.0M | $308.6M | ||
| Q3 24 | $2.0B | $325.5M | ||
| Q2 24 | $511.0M | $440.1M | ||
| Q1 24 | $1.1B | $402.0M |
自由现金流LUMNRMD
| Q4 25 | $-1.1B | $311.2M | ||
| Q3 25 | $1.5B | $414.4M | ||
| Q2 25 | $-321.0M | $508.2M | ||
| Q1 25 | $304.0M | $557.9M | ||
| Q4 24 | $-227.0M | $288.0M | ||
| Q3 24 | $1.2B | $307.7M | ||
| Q2 24 | $-242.0M | $415.2M | ||
| Q1 24 | $389.0M | $380.8M |
自由现金流率LUMNRMD
| Q4 25 | -39.4% | 21.9% | ||
| Q3 25 | 52.4% | 31.0% | ||
| Q2 25 | -11.2% | 37.7% | ||
| Q1 25 | 10.4% | 43.2% | ||
| Q4 24 | -7.4% | 22.5% | ||
| Q3 24 | 39.8% | 25.1% | ||
| Q2 24 | -8.0% | 33.9% | ||
| Q1 24 | 12.7% | 31.8% |
资本支出强度LUMNRMD
| Q4 25 | 59.9% | 2.0% | ||
| Q3 25 | 37.1% | 3.2% | ||
| Q2 25 | 31.1% | 2.3% | ||
| Q1 25 | 27.2% | 1.6% | ||
| Q4 24 | 29.7% | 1.6% | ||
| Q3 24 | 28.6% | 1.5% | ||
| Q2 24 | 25.0% | 2.0% | ||
| Q1 24 | 23.3% | 1.8% |
现金转化率LUMNRMD
| Q4 25 | — | 0.87× | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 1.42× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | 8.09× | 0.90× | ||
| Q3 24 | — | 1.05× | ||
| Q2 24 | — | 1.51× | ||
| Q1 24 | 19.33× | 1.34× |
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% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
