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美满电子科技（MRVL）与VIAVI SOLUTIONS INC.（VIAV）财务数据对比。点击上方公司名可切换其他公司
美满电子科技的季度营收约是VIAVI SOLUTIONS INC.的5.6倍（$2.1B vs $369.3M），美满电子科技净利率更高（91.7% vs -13.0%，领先104.7%），美满电子科技同比增速更快（36.8% vs 36.4%），美满电子科技自由现金流更多（$508.8M vs $36.9M），过去两年VIAVI SOLUTIONS INC.的营收复合增速更高（22.5% vs 20.6%）
美满电子科技是总部位于美国加利福尼亚州圣克拉拉的半导体企业，成立于1995年，专注于半导体及相关技术的研发与生产。截至2024年，公司全球员工超6500人，持有全球专利超1万项，2024财年总营收达55亿美元。
VIAVI Solutions前身为JDS Uniphase（JDSU）的一部分，是总部位于美国亚利桑那州钱德勒的网络测试、测量与保障技术企业，主营网络测试和监控设备，同时研发的光学技术可应用于材料质量管控、货币防伪、3D动作传感等多个领域，微软Kinect体感游戏控制器的相关技术也来自该公司。
MRVL vs VIAV — 直观对比
营收规模更大
MRVL
是对方的5.6倍
$369.3M
营收增速更快
MRVL
高出0.5%
36.4%
净利率更高
MRVL
高出104.7%
-13.0%
自由现金流更多
MRVL
多$471.9M
$36.9M
两年增速更快
VIAV
近两年复合增速
20.6%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $369.3M |
| 净利润 | $1.9B | $-48.1M |
| 毛利率 | 51.6% | 57.0% |
| 营业利润率 | 17.2% | 3.1% |
| 净利率 | 91.7% | -13.0% |
| 营收同比 | 36.8% | 36.4% |
| 净利润同比 | 381.1% | -628.6% |
| 每股收益（稀释后） | $2.20 | $-0.21 |
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MRVLVIAV
| Q4 25 | $2.1B | $369.3M | ||
| Q3 25 | $2.0B | $299.1M | ||
| Q2 25 | $1.9B | $290.5M | ||
| Q1 25 | $1.8B | $284.8M | ||
| Q4 24 | $1.5B | $270.8M | ||
| Q3 24 | $1.3B | $238.2M | ||
| Q2 24 | $1.2B | $252.0M | ||
| Q1 24 | $1.4B | $246.0M |
净利润MRVLVIAV
| Q4 25 | $1.9B | $-48.1M | ||
| Q3 25 | $194.8M | $-21.4M | ||
| Q2 25 | $177.9M | $8.0M | ||
| Q1 25 | $200.2M | $19.5M | ||
| Q4 24 | $-676.3M | $9.1M | ||
| Q3 24 | $-193.3M | $-1.8M | ||
| Q2 24 | $-215.6M | $-21.7M | ||
| Q1 24 | $-392.7M | $-24.6M |
毛利率MRVLVIAV
| Q4 25 | 51.6% | 57.0% | ||
| Q3 25 | 50.4% | 56.5% | ||
| Q2 25 | 50.3% | 56.3% | ||
| Q1 25 | 50.5% | 56.4% | ||
| Q4 24 | 23.0% | 59.4% | ||
| Q3 24 | 46.2% | 57.1% | ||
| Q2 24 | 45.5% | 57.8% | ||
| Q1 24 | 46.6% | 56.1% |
营业利润率MRVLVIAV
| Q4 25 | 17.2% | 3.1% | ||
| Q3 25 | 14.5% | 2.5% | ||
| Q2 25 | 14.3% | 5.3% | ||
| Q1 25 | 12.9% | 3.0% | ||
| Q4 24 | -46.4% | 8.2% | ||
| Q3 24 | -7.9% | 4.8% | ||
| Q2 24 | -13.1% | -2.3% | ||
| Q1 24 | -2.3% | -4.8% |
净利率MRVLVIAV
| Q4 25 | 91.7% | -13.0% | ||
| Q3 25 | 9.7% | -7.2% | ||
| Q2 25 | 9.4% | 2.8% | ||
| Q1 25 | 11.0% | 6.8% | ||
| Q4 24 | -44.6% | 3.4% | ||
| Q3 24 | -15.2% | -0.8% | ||
| Q2 24 | -18.6% | -8.6% | ||
| Q1 24 | -27.5% | -10.0% |
每股收益（稀释后）MRVLVIAV
| Q4 25 | $2.20 | $-0.21 | ||
| Q3 25 | $0.22 | $-0.10 | ||
| Q2 25 | $0.20 | $0.03 | ||
| Q1 25 | $0.23 | $0.09 | ||
| Q4 24 | $-0.78 | $0.04 | ||
| Q3 24 | $-0.22 | $-0.01 | ||
| Q2 24 | $-0.25 | $-0.10 | ||
| Q1 24 | $-0.45 | $-0.11 |
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 | $2.7B | $767.4M |
| 总债务越低越好 | $4.5B | $1.2B |
| 股东权益账面价值 | $14.1B | $834.3M |
| 总资产 | $21.6B | $2.8B |
| 负债/权益比越低杠杆越低 | 0.32× | 1.46× |
8季度趋势，按日历期对齐
现金及短期投资MRVLVIAV
| Q4 25 | $2.7B | $767.4M | ||
| Q3 25 | $1.2B | $545.6M | ||
| Q2 25 | $885.9M | $425.3M | ||
| Q1 25 | $948.3M | $396.8M | ||
| Q4 24 | $868.1M | $509.4M | ||
| Q3 24 | $808.7M | $493.1M | ||
| Q2 24 | $847.7M | $491.2M | ||
| Q1 24 | $950.8M | $482.6M |
总债务MRVLVIAV
| Q4 25 | $4.5B | $1.2B | ||
| Q3 25 | $4.5B | $640.5M | ||
| Q2 25 | $4.2B | $396.3M | ||
| Q1 25 | $4.1B | $396.1M | ||
| Q4 24 | $4.1B | $639.3M | ||
| Q3 24 | $4.1B | $637.6M | ||
| Q2 24 | $4.1B | $636.0M | ||
| Q1 24 | $4.2B | $634.4M |
股东权益MRVLVIAV
| Q4 25 | $14.1B | $834.3M | ||
| Q3 25 | $13.4B | $723.9M | ||
| Q2 25 | $13.3B | $780.2M | ||
| Q1 25 | $13.4B | $728.8M | ||
| Q4 24 | $13.4B | $682.8M | ||
| Q3 24 | $14.2B | $702.1M | ||
| Q2 24 | $14.5B | $681.6M | ||
| Q1 24 | $14.8B | $705.1M |
总资产MRVLVIAV
| Q4 25 | $21.6B | $2.8B | ||
| Q3 25 | $20.6B | $2.1B | ||
| Q2 25 | $20.0B | $2.0B | ||
| Q1 25 | $20.2B | $1.9B | ||
| Q4 24 | $19.7B | $1.7B | ||
| Q3 24 | $20.3B | $1.7B | ||
| Q2 24 | $20.5B | $1.7B | ||
| Q1 24 | $21.2B | $1.7B |
负债/权益比MRVLVIAV
| Q4 25 | 0.32× | 1.46× | ||
| Q3 25 | 0.33× | 0.88× | ||
| Q2 25 | 0.32× | 0.51× | ||
| Q1 25 | 0.30× | 0.54× | ||
| Q4 24 | 0.31× | 0.94× | ||
| Q3 24 | 0.29× | 0.91× | ||
| Q2 24 | 0.29× | 0.93× | ||
| Q1 24 | 0.28× | 0.90× |
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 | $582.3M | $42.5M |
| 自由现金流经营现金流 - 资本支出 | $508.8M | $36.9M |
| 自由现金流率自由现金流/营收 | 24.5% | 10.0% |
| 资本支出强度资本支出/营收 | 3.5% | 1.5% |
| 现金转化率经营现金流/净利润 | 0.31× | — |
| 过去12个月自由现金流最近4个季度 | $1.6B | $78.7M |
8季度趋势，按日历期对齐
经营现金流MRVLVIAV
| Q4 25 | $582.3M | $42.5M | ||
| Q3 25 | $461.6M | $31.0M | ||
| Q2 25 | $332.9M | $23.8M | ||
| Q1 25 | $514.0M | $7.8M | ||
| Q4 24 | $536.3M | $44.7M | ||
| Q3 24 | $306.4M | $13.5M | ||
| Q2 24 | $324.5M | $26.2M | ||
| Q1 24 | $546.6M | $19.5M |
自由现金流MRVLVIAV
| Q4 25 | $508.8M | $36.9M | ||
| Q3 25 | $414.1M | $22.5M | ||
| Q2 25 | $214.1M | $18.3M | ||
| Q1 25 | $444.1M | $1.0M | ||
| Q4 24 | $461.3M | $36.5M | ||
| Q3 24 | $258.2M | $6.2M | ||
| Q2 24 | $233.0M | $22.4M | ||
| Q1 24 | $475.6M | $16.3M |
自由现金流率MRVLVIAV
| Q4 25 | 24.5% | 10.0% | ||
| Q3 25 | 20.6% | 7.5% | ||
| Q2 25 | 11.3% | 6.3% | ||
| Q1 25 | 24.4% | 0.4% | ||
| Q4 24 | 30.4% | 13.5% | ||
| Q3 24 | 20.3% | 2.6% | ||
| Q2 24 | 20.1% | 8.9% | ||
| Q1 24 | 33.3% | 6.6% |
资本支出强度MRVLVIAV
| Q4 25 | 3.5% | 1.5% | ||
| Q3 25 | 2.4% | 2.8% | ||
| Q2 25 | 6.3% | 1.9% | ||
| Q1 25 | 3.8% | 2.4% | ||
| Q4 24 | 4.9% | 3.0% | ||
| Q3 24 | 3.8% | 3.1% | ||
| Q2 24 | 7.9% | 1.5% | ||
| Q1 24 | 5.0% | 1.3% |
现金转化率MRVLVIAV
| Q4 25 | 0.31× | — | ||
| Q3 25 | 2.37× | — | ||
| Q2 25 | 1.87× | 2.98× | ||
| Q1 25 | 2.57× | 0.40× | ||
| Q4 24 | — | 4.91× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
MRVL
暂无分部数据
VIAV
| Products | $317.3M | 86% |
| Services | $52.0M | 14% |
