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Lumen Technologies, Inc.（LUMN）与TELEPHONE & DATA SYSTEMS INC（TDS）财务数据对比。点击上方公司名可切换其他公司
Lumen Technologies, Inc.净利率更高（-0.1% vs -3.8%，领先3.8%）。Lumen Technologies, Inc.同比增速更快（-11.0% vs -221.4%）。TELEPHONE & DATA SYSTEMS INC自由现金流更多（$-108.9M vs $-1.1B）。过去两年TELEPHONE & DATA SYSTEMS INC的营收复合增速更高（NaN% vs NaN%）
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。
Telephone and Data Systems, Inc.是总部位于美国芝加哥的电信服务提供商，通过旗下子公司TDS电信与Array数字基础设施（前身为美国移动通信运营商U.S. Cellular），主营宽带、有线电视、固定电话、无线通信服务及通信塔租赁业务。
LUMN vs TDS — 直观对比
营收规模更大
LUMN
是对方的-1.9倍
$-1.5B
营收增速更快
LUMN
高出210.5%
-221.4%
净利率更高
LUMN
高出3.8%
-3.8%
自由现金流更多
TDS
多$973.1M
$-1.1B
两年增速更快
TDS
近两年复合增速
-5.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $-1.5B |
| 净利润 | $-2.0M | $56.5M |
| 毛利率 | 40.7% | — |
| 营业利润率 | -7.3% | — |
| 净利率 | -0.1% | -3.8% |
| 营收同比 | -11.0% | -221.4% |
| 净利润同比 | -102.4% | 841.9% |
| 每股收益（稀释后） | $-0.01 | $0.33 |
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LUMNTDS
| Q4 25 | $2.7B | $-1.5B | ||
| Q3 25 | $2.8B | $261.9M | ||
| Q2 25 | $2.9B | — | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $3.1B | $1.2B | ||
| Q3 24 | $3.0B | $1.2B | ||
| Q2 24 | $3.0B | $1.2B | ||
| Q1 24 | $3.1B | $1.2B |
净利润LUMNTDS
| Q4 25 | $-2.0M | $56.5M | ||
| Q3 25 | $-621.0M | $-81.8M | ||
| Q2 25 | $-915.0M | — | ||
| Q1 25 | $-201.0M | — | ||
| Q4 24 | $85.0M | $6.0M | ||
| Q3 24 | $-148.0M | $-66.0M | ||
| Q2 24 | $-49.0M | $3.0M | ||
| Q1 24 | $57.0M | $29.0M |
毛利率LUMNTDS
| Q4 25 | 40.7% | — | ||
| Q3 25 | 39.4% | — | ||
| Q2 25 | 43.4% | — | ||
| Q1 25 | 42.0% | — | ||
| Q4 24 | 44.7% | — | ||
| Q3 24 | 43.0% | — | ||
| Q2 24 | 45.2% | — | ||
| Q1 24 | 46.0% | — |
营业利润率LUMNTDS
| Q4 25 | -7.3% | — | ||
| Q3 25 | -4.1% | -26.0% | ||
| Q2 25 | -21.0% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 5.0% | 3.0% | ||
| Q3 24 | 4.2% | -6.7% | ||
| Q2 24 | 4.5% | 3.2% | ||
| Q1 24 | 1.5% | 5.4% |
净利率LUMNTDS
| Q4 25 | -0.1% | -3.8% | ||
| Q3 25 | -22.1% | -31.2% | ||
| Q2 25 | -31.9% | — | ||
| Q1 25 | -6.9% | — | ||
| Q4 24 | 2.8% | 0.5% | ||
| Q3 24 | -5.0% | -5.5% | ||
| Q2 24 | -1.6% | 0.2% | ||
| Q1 24 | 1.9% | 2.4% |
每股收益（稀释后）LUMNTDS
| Q4 25 | $-0.01 | $0.33 | ||
| Q3 25 | $-0.62 | $-0.84 | ||
| Q2 25 | $-0.92 | — | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $0.08 | $-0.09 | ||
| Q3 24 | $-0.15 | $-0.73 | ||
| Q2 24 | $-0.05 | $-0.13 | ||
| Q1 24 | $0.06 | $0.10 |
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 | $766.0M |
| 总债务越低越好 | $17.4B | $823.4M |
| 股东权益账面价值 | $-1.1B | $4.8B |
| 总资产 | $34.3B | $8.4B |
| 负债/权益比越低杠杆越低 | — | 0.17× |
8季度趋势，按日历期对齐
现金及短期投资LUMNTDS
| Q4 25 | $1.0B | $766.0M | ||
| Q3 25 | $2.4B | $933.0M | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.9B | $364.0M | ||
| Q3 24 | $2.6B | $451.0M | ||
| Q2 24 | $1.5B | $322.0M | ||
| Q1 24 | $1.6B | $249.0M |
总债务LUMNTDS
| Q4 25 | $17.4B | $823.4M | ||
| Q3 25 | $17.6B | $825.3M | ||
| Q2 25 | $17.6B | — | ||
| Q1 25 | $17.3B | — | ||
| Q4 24 | $17.5B | $4.1B | ||
| Q3 24 | $18.1B | $4.1B | ||
| Q2 24 | $18.4B | $4.1B | ||
| Q1 24 | $18.6B | $4.2B |
股东权益LUMNTDS
| Q4 25 | $-1.1B | $4.8B | ||
| Q3 25 | $-1.2B | $4.5B | ||
| Q2 25 | $-595.0M | — | ||
| Q1 25 | $289.0M | — | ||
| Q4 24 | $464.0M | $5.1B | ||
| Q3 24 | $342.0M | $5.1B | ||
| Q2 24 | $466.0M | $5.1B | ||
| Q1 24 | $504.0M | $5.2B |
总资产LUMNTDS
| Q4 25 | $34.3B | $8.4B | ||
| Q3 25 | $34.3B | $8.5B | ||
| Q2 25 | $33.0B | — | ||
| Q1 25 | $33.5B | — | ||
| Q4 24 | $33.5B | $13.7B | ||
| Q3 24 | $34.0B | $13.7B | ||
| Q2 24 | $32.9B | $13.9B | ||
| Q1 24 | $33.2B | $13.9B |
负债/权益比LUMNTDS
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.18× | ||
| Q2 25 | — | — | ||
| Q1 25 | 59.98× | — | ||
| Q4 24 | 37.70× | 0.80× | ||
| Q3 24 | 53.05× | 0.81× | ||
| Q2 24 | 39.51× | 0.80× | ||
| Q1 24 | 36.89× | 0.80× |
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 | $19.6M |
| 自由现金流经营现金流 - 资本支出 | $-1.1B | $-108.9M |
| 自由现金流率自由现金流/营收 | -39.4% | 7.4% |
| 资本支出强度资本支出/营收 | 59.9% | -8.7% |
| 现金转化率经营现金流/净利润 | — | 0.35× |
| 过去12个月自由现金流最近4个季度 | $371.0M | $-83.5M |
8季度趋势，按日历期对齐
经营现金流LUMNTDS
| Q4 25 | $562.0M | $19.6M | ||
| Q3 25 | $2.5B | $-36.7M | ||
| Q2 25 | $570.0M | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $688.0M | $212.0M | ||
| Q3 24 | $2.0B | $307.0M | ||
| Q2 24 | $511.0M | $402.0M | ||
| Q1 24 | $1.1B | $224.0M |
自由现金流LUMNTDS
| Q4 25 | $-1.1B | $-108.9M | ||
| Q3 25 | $1.5B | $-60.6M | ||
| Q2 25 | $-321.0M | — | ||
| Q1 25 | $304.0M | — | ||
| Q4 24 | $-227.0M | $-17.0M | ||
| Q3 24 | $1.2B | $103.0M | ||
| Q2 24 | $-242.0M | $186.0M | ||
| Q1 24 | $389.0M | $-11.0M |
自由现金流率LUMNTDS
| Q4 25 | -39.4% | 7.4% | ||
| Q3 25 | 52.4% | -23.1% | ||
| Q2 25 | -11.2% | — | ||
| Q1 25 | 10.4% | — | ||
| Q4 24 | -7.4% | -1.4% | ||
| Q3 24 | 39.8% | 8.6% | ||
| Q2 24 | -8.0% | 15.4% | ||
| Q1 24 | 12.7% | -0.9% |
资本支出强度LUMNTDS
| Q4 25 | 59.9% | -8.7% | ||
| Q3 25 | 37.1% | 9.1% | ||
| Q2 25 | 31.1% | — | ||
| Q1 25 | 27.2% | — | ||
| Q4 24 | 29.7% | 18.9% | ||
| Q3 24 | 28.6% | 17.1% | ||
| Q2 24 | 25.0% | 17.9% | ||
| Q1 24 | 23.3% | 19.1% |
现金转化率LUMNTDS
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 8.09× | 35.33× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 134.00× | ||
| Q1 24 | 19.33× | 7.72× |
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% |
TDS
暂无分部数据
