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摩丁制造（MOD）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是摩丁制造的1.0倍（$814.9M vs $805.0M），Ubiquiti Inc.净利率更高（28.7% vs -5.9%，领先34.6%），Ubiquiti Inc.同比增速更快（35.8% vs 30.5%），Ubiquiti Inc.自由现金流更多（$260.3M vs $-17.1M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 15.5%）
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
MOD vs UI — 直观对比
营收规模更大
UI
是对方的1.0倍
$805.0M
营收增速更快
UI
高出5.3%
30.5%
净利率更高
UI
高出34.6%
-5.9%
自由现金流更多
UI
多$277.4M
$-17.1M
两年增速更快
UI
近两年复合增速
15.5%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $805.0M | $814.9M |
| 净利润 | $-47.4M | $233.6M |
| 毛利率 | 23.1% | 45.9% |
| 营业利润率 | 11.1% | 35.9% |
| 净利率 | -5.9% | 28.7% |
| 营收同比 | 30.5% | 35.8% |
| 净利润同比 | -215.6% | 70.8% |
| 每股收益（稀释后） | $-0.90 | $3.86 |
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MODUI
| Q4 25 | $805.0M | $814.9M | ||
| Q3 25 | $738.9M | $733.8M | ||
| Q2 25 | $682.8M | $759.2M | ||
| Q1 25 | $647.2M | $664.2M | ||
| Q4 24 | $616.8M | $599.9M | ||
| Q3 24 | $658.0M | $550.3M | ||
| Q2 24 | $661.5M | $507.5M | ||
| Q1 24 | $603.5M | $493.0M |
净利润MODUI
| Q4 25 | $-47.4M | $233.6M | ||
| Q3 25 | $44.4M | $207.9M | ||
| Q2 25 | $51.2M | $266.7M | ||
| Q1 25 | $49.6M | $180.4M | ||
| Q4 24 | $41.0M | $136.8M | ||
| Q3 24 | $46.1M | $128.0M | ||
| Q2 24 | $47.3M | $103.8M | ||
| Q1 24 | $25.8M | $76.3M |
毛利率MODUI
| Q4 25 | 23.1% | 45.9% | ||
| Q3 25 | 22.3% | 46.0% | ||
| Q2 25 | 24.2% | 45.1% | ||
| Q1 25 | 25.6% | 44.5% | ||
| Q4 24 | 24.3% | 41.2% | ||
| Q3 24 | 25.2% | 42.1% | ||
| Q2 24 | 24.6% | 40.2% | ||
| Q1 24 | 22.4% | 35.3% |
营业利润率MODUI
| Q4 25 | 11.1% | 35.9% | ||
| Q3 25 | 9.9% | 35.7% | ||
| Q2 25 | 11.1% | 34.4% | ||
| Q1 25 | 11.5% | 34.2% | ||
| Q4 24 | 9.6% | 29.8% | ||
| Q3 24 | 11.4% | 30.7% | ||
| Q2 24 | 11.2% | 27.3% | ||
| Q1 24 | 7.8% | 22.6% |
净利率MODUI
| Q4 25 | -5.9% | 28.7% | ||
| Q3 25 | 6.0% | 28.3% | ||
| Q2 25 | 7.5% | 35.1% | ||
| Q1 25 | 7.7% | 27.2% | ||
| Q4 24 | 6.6% | 22.8% | ||
| Q3 24 | 7.0% | 23.3% | ||
| Q2 24 | 7.2% | 20.5% | ||
| Q1 24 | 4.3% | 15.5% |
每股收益（稀释后）MODUI
| Q4 25 | $-0.90 | $3.86 | ||
| Q3 25 | $0.83 | $3.43 | ||
| Q2 25 | $0.95 | $4.40 | ||
| Q1 25 | $0.92 | $2.98 | ||
| Q4 24 | $0.76 | $2.26 | ||
| Q3 24 | $0.86 | $2.12 | ||
| Q2 24 | $0.88 | $1.72 | ||
| Q1 24 | $0.48 | $1.26 |
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 | $98.7M | $302.8M |
| 总债务越低越好 | $570.7M | $47.5M |
| 股东权益账面价值 | $1.1B | $1.0B |
| 总资产 | $2.5B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.51× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资MODUI
| Q4 25 | $98.7M | $302.8M | ||
| Q3 25 | $83.8M | $177.2M | ||
| Q2 25 | $124.5M | $149.7M | ||
| Q1 25 | $71.6M | $151.0M | ||
| Q4 24 | $83.8M | $133.1M | ||
| Q3 24 | $78.6M | $165.2M | ||
| Q2 24 | $72.9M | $126.3M | ||
| Q1 24 | $60.1M | $102.5M |
总债务MODUI
| Q4 25 | $570.7M | $47.5M | ||
| Q3 25 | $525.8M | $133.8M | ||
| Q2 25 | $482.1M | $250.0M | ||
| Q1 25 | $296.7M | $340.0M | ||
| Q4 24 | $330.0M | $406.3M | ||
| Q3 24 | $359.1M | $552.5M | ||
| Q2 24 | $405.7M | $708.1M | ||
| Q1 24 | $399.9M | $877.5M |
股东权益MODUI
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $1.1B | $828.4M | ||
| Q2 25 | $1.0B | $668.3M | ||
| Q1 25 | $910.2M | $436.1M | ||
| Q4 24 | $855.1M | $290.4M | ||
| Q3 24 | $858.8M | $188.1M | ||
| Q2 24 | $788.4M | $95.1M | ||
| Q1 24 | $747.6M | $25.9M |
总资产MODUI
| Q4 25 | $2.5B | $1.6B | ||
| Q3 25 | $2.4B | $1.5B | ||
| Q2 25 | $2.2B | $1.5B | ||
| Q1 25 | $1.9B | $1.3B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.9B | $1.2B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $1.9B | $1.2B |
负债/权益比MODUI
| Q4 25 | 0.51× | 0.05× | ||
| Q3 25 | 0.50× | 0.16× | ||
| Q2 25 | 0.48× | 0.37× | ||
| Q1 25 | 0.33× | 0.78× | ||
| Q4 24 | 0.39× | 1.40× | ||
| Q3 24 | 0.42× | 2.94× | ||
| Q2 24 | 0.51× | 7.45× | ||
| Q1 24 | 0.53× | 33.92× |
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 | $24.7M | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $-17.1M | $260.3M |
| 自由现金流率自由现金流/营收 | -2.1% | 31.9% |
| 资本支出强度资本支出/营收 | 5.2% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | $-20.3M | $699.5M |
8季度趋势，按日历期对齐
经营现金流MODUI
| Q4 25 | $24.7M | $263.9M | ||
| Q3 25 | $1.4M | $198.5M | ||
| Q2 25 | $27.7M | $130.4M | ||
| Q1 25 | $54.8M | $123.6M | ||
| Q4 24 | $60.7M | $152.4M | ||
| Q3 24 | $57.3M | $233.7M | ||
| Q2 24 | $40.5M | $231.4M | ||
| Q1 24 | $39.6M | $163.9M |
自由现金流MODUI
| Q4 25 | $-17.1M | $260.3M | ||
| Q3 25 | $-30.5M | $193.3M | ||
| Q2 25 | $200.0K | $125.2M | ||
| Q1 25 | $27.1M | $120.7M | ||
| Q4 24 | $44.7M | $150.4M | ||
| Q3 24 | $43.8M | $231.1M | ||
| Q2 24 | $13.7M | $229.5M | ||
| Q1 24 | $-4.3M | $160.6M |
自由现金流率MODUI
| Q4 25 | -2.1% | 31.9% | ||
| Q3 25 | -4.1% | 26.3% | ||
| Q2 25 | 0.0% | 16.5% | ||
| Q1 25 | 4.2% | 18.2% | ||
| Q4 24 | 7.2% | 25.1% | ||
| Q3 24 | 6.7% | 42.0% | ||
| Q2 24 | 2.1% | 45.2% | ||
| Q1 24 | -0.7% | 32.6% |
资本支出强度MODUI
| Q4 25 | 5.2% | 0.4% | ||
| Q3 25 | 4.3% | 0.7% | ||
| Q2 25 | 4.0% | 0.7% | ||
| Q1 25 | 4.3% | 0.4% | ||
| Q4 24 | 2.6% | 0.3% | ||
| Q3 24 | 2.1% | 0.5% | ||
| Q2 24 | 4.1% | 0.4% | ||
| Q1 24 | 7.3% | 0.7% |
现金转化率MODUI
| Q4 25 | — | 1.13× | ||
| Q3 25 | 0.03× | 0.95× | ||
| Q2 25 | 0.54× | 0.49× | ||
| Q1 25 | 1.10× | 0.68× | ||
| Q4 24 | 1.48× | 1.11× | ||
| Q3 24 | 1.24× | 1.83× | ||
| Q2 24 | 0.86× | 2.23× | ||
| Q1 24 | 1.53× | 2.15× |
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
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
