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Lumen Technologies, Inc.（LUMN）与SEABOARD CORP（SEB）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SEABOARD CORP的1.1倍（$2.7B vs $2.4B），SEABOARD CORP净利率更高（10.6% vs -0.1%，领先10.7%），SEABOARD CORP同比增速更快（-2.9% vs -11.0%），SEABOARD CORP自由现金流更多（$53.0M vs $-1.1B），过去两年SEABOARD CORP的营收复合增速更高（4.9% 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。
Seaboard Corporation是一家多元化跨国农业综合及运输集团，业务覆盖多个垂直整合领域。美国本土核心业务包括生猪养殖加工与远洋运输，海外板块主营大宗商品贸易、谷物加工、食糖生产及发电，总部位于堪萨斯州梅里亚姆。
LUMN vs SEB — 直观对比
营收规模更大
LUMN
是对方的1.1倍
$2.4B
营收增速更快
SEB
高出8.1%
-11.0%
净利率更高
SEB
高出10.7%
-0.1%
自由现金流更多
SEB
多$1.1B
$-1.1B
两年增速更快
SEB
近两年复合增速
-5.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $2.4B |
| 净利润 | $-2.0M | $255.0M |
| 毛利率 | 40.7% | 7.9% |
| 营业利润率 | -7.3% | 2.7% |
| 净利率 | -0.1% | 10.6% |
| 营收同比 | -11.0% | -2.9% |
| 净利润同比 | -102.4% | 63.5% |
| 每股收益（稀释后） | $-0.01 | $262.58 |
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LUMNSEB
| Q4 25 | $2.7B | $2.4B | ||
| Q3 25 | $2.8B | $2.5B | ||
| Q2 25 | $2.9B | $2.5B | ||
| Q1 25 | $2.9B | $2.3B | ||
| Q4 24 | $3.1B | $2.5B | ||
| Q3 24 | $3.0B | $2.2B | ||
| Q2 24 | $3.0B | $2.2B | ||
| Q1 24 | $3.1B | $2.2B |
净利润LUMNSEB
| Q4 25 | $-2.0M | $255.0M | ||
| Q3 25 | $-621.0M | $110.0M | ||
| Q2 25 | $-915.0M | $104.0M | ||
| Q1 25 | $-201.0M | $32.0M | ||
| Q4 24 | $85.0M | $156.0M | ||
| Q3 24 | $-148.0M | $-149.0M | ||
| Q2 24 | $-49.0M | $61.0M | ||
| Q1 24 | $57.0M | $22.0M |
毛利率LUMNSEB
| Q4 25 | 40.7% | 7.9% | ||
| Q3 25 | 39.4% | 7.8% | ||
| Q2 25 | 43.4% | 6.5% | ||
| Q1 25 | 42.0% | 6.1% | ||
| Q4 24 | 44.7% | 9.0% | ||
| Q3 24 | 43.0% | 6.2% | ||
| Q2 24 | 45.2% | 5.8% | ||
| Q1 24 | 46.0% | 4.0% |
营业利润率LUMNSEB
| Q4 25 | -7.3% | 2.7% | ||
| Q3 25 | -4.1% | 3.3% | ||
| Q2 25 | -21.0% | 2.1% | ||
| Q1 25 | 3.7% | 1.6% | ||
| Q4 24 | 5.0% | 4.6% | ||
| Q3 24 | 4.2% | 1.4% | ||
| Q2 24 | 4.5% | 1.4% | ||
| Q1 24 | 1.5% | -0.9% |
净利率LUMNSEB
| Q4 25 | -0.1% | 10.6% | ||
| Q3 25 | -22.1% | 4.3% | ||
| Q2 25 | -31.9% | 4.2% | ||
| Q1 25 | -6.9% | 1.4% | ||
| Q4 24 | 2.8% | 6.3% | ||
| Q3 24 | -5.0% | -6.7% | ||
| Q2 24 | -1.6% | 2.8% | ||
| Q1 24 | 1.9% | 1.0% |
每股收益（稀释后）LUMNSEB
| Q4 25 | $-0.01 | $262.58 | ||
| Q3 25 | $-0.62 | $113.71 | ||
| Q2 25 | $-0.92 | $105.22 | ||
| Q1 25 | $-0.20 | $32.95 | ||
| Q4 24 | $0.08 | $158.58 | ||
| Q3 24 | $-0.15 | $-153.44 | ||
| Q2 24 | $-0.05 | $62.82 | ||
| Q1 24 | $0.06 | $22.66 |
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 | $1.2B |
| 总债务越低越好 | $17.4B | — |
| 股东权益账面价值 | $-1.1B | $5.2B |
| 总资产 | $34.3B | $8.2B |
| 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LUMNSEB
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $2.4B | $1.2B | ||
| Q2 25 | $1.6B | $1.1B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.9B | $1.2B | ||
| Q3 24 | $2.6B | $1.2B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.6B | $1.2B |
总债务LUMNSEB
| Q4 25 | $17.4B | — | ||
| Q3 25 | $17.6B | — | ||
| Q2 25 | $17.6B | — | ||
| Q1 25 | $17.3B | — | ||
| Q4 24 | $17.5B | — | ||
| Q3 24 | $18.1B | — | ||
| Q2 24 | $18.4B | — | ||
| Q1 24 | $18.6B | — |
股东权益LUMNSEB
| Q4 25 | $-1.1B | $5.2B | ||
| Q3 25 | $-1.2B | $5.0B | ||
| Q2 25 | $-595.0M | $4.8B | ||
| Q1 25 | $289.0M | $4.7B | ||
| Q4 24 | $464.0M | $4.7B | ||
| Q3 24 | $342.0M | $4.5B | ||
| Q2 24 | $466.0M | $4.7B | ||
| Q1 24 | $504.0M | $4.6B |
总资产LUMNSEB
| Q4 25 | $34.3B | $8.2B | ||
| Q3 25 | $34.3B | $8.0B | ||
| Q2 25 | $33.0B | $7.9B | ||
| Q1 25 | $33.5B | $7.6B | ||
| Q4 24 | $33.5B | $7.7B | ||
| Q3 24 | $34.0B | $7.5B | ||
| Q2 24 | $32.9B | $7.7B | ||
| Q1 24 | $33.2B | $7.6B |
负债/权益比LUMNSEB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 59.98× | — | ||
| Q4 24 | 37.70× | — | ||
| Q3 24 | 53.05× | — | ||
| Q2 24 | 39.51× | — | ||
| Q1 24 | 36.89× | — |
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 | $188.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.1B | $53.0M |
| 自由现金流率自由现金流/营收 | -39.4% | 2.2% |
| 资本支出强度资本支出/营收 | 59.9% | 5.6% |
| 现金转化率经营现金流/净利润 | — | 0.74× |
| 过去12个月自由现金流最近4个季度 | $371.0M | $6.0M |
8季度趋势，按日历期对齐
经营现金流LUMNSEB
| Q4 25 | $562.0M | $188.0M | ||
| Q3 25 | $2.5B | $319.0M | ||
| Q2 25 | $570.0M | $81.0M | ||
| Q1 25 | $1.1B | $-20.0M | ||
| Q4 24 | $688.0M | $300.0M | ||
| Q3 24 | $2.0B | $194.0M | ||
| Q2 24 | $511.0M | $6.0M | ||
| Q1 24 | $1.1B | $19.0M |
自由现金流LUMNSEB
| Q4 25 | $-1.1B | $53.0M | ||
| Q3 25 | $1.5B | $152.0M | ||
| Q2 25 | $-321.0M | $-70.0M | ||
| Q1 25 | $304.0M | $-129.0M | ||
| Q4 24 | $-227.0M | $162.0M | ||
| Q3 24 | $1.2B | $58.0M | ||
| Q2 24 | $-242.0M | $-127.0M | ||
| Q1 24 | $389.0M | $-85.0M |
自由现金流率LUMNSEB
| Q4 25 | -39.4% | 2.2% | ||
| Q3 25 | 52.4% | 6.0% | ||
| Q2 25 | -11.2% | -2.8% | ||
| Q1 25 | 10.4% | -5.6% | ||
| Q4 24 | -7.4% | 6.5% | ||
| Q3 24 | 39.8% | 2.6% | ||
| Q2 24 | -8.0% | -5.7% | ||
| Q1 24 | 12.7% | -3.9% |
资本支出强度LUMNSEB
| Q4 25 | 59.9% | 5.6% | ||
| Q3 25 | 37.1% | 6.6% | ||
| Q2 25 | 31.1% | 6.1% | ||
| Q1 25 | 27.2% | 4.7% | ||
| Q4 24 | 29.7% | 5.6% | ||
| Q3 24 | 28.6% | 6.1% | ||
| Q2 24 | 25.0% | 6.0% | ||
| Q1 24 | 23.3% | 4.7% |
现金转化率LUMNSEB
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 2.90× | ||
| Q2 25 | — | 0.78× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | 8.09× | 1.92× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.10× | ||
| Q1 24 | 19.33× | 0.86× |
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% |
SEB
| Commodity Trading And Milling | $1.3B | 52% |
| Pork Segment | $469.0M | 19% |
| Marine | $444.0M | 18% |
| Other | $108.0M | 4% |
| Energy Service | $56.0M | 2% |
| Product And Service Other Services | $15.0M | 1% |
| Transportation | $6.0M | 0% |
