vs
NATURAL ALTERNATIVES INTERNATIONAL INC（NAII）与TELOS CORP（TLS）财务数据对比。点击上方公司名可切换其他公司
TELOS CORP的季度营收约是NATURAL ALTERNATIVES INTERNATIONAL INC的1.3倍（$46.8M vs $34.8M），NATURAL ALTERNATIVES INTERNATIONAL INC净利率更高（-7.3% vs -34.9%，领先27.5%），TELOS CORP同比增速更快（77.4% vs 2.1%），TELOS CORP自由现金流更多（$8.0M vs $-7.3M），过去两年TELOS CORP的营收复合增速更高（25.7% vs 17.7%）
天然替代品国际公司（NAI）是一家总部位于美国加利福尼亚州卡尔斯巴德的企业，主打营养补充剂生产，知名产品包括Juice Plus。公司由马克·A·勒杜创立于1980年，生产基地分布在美国加利福尼亚州维斯塔、瑞士与日本，在营养补充剂代工生产领域拥有多年经验。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
NAII vs TLS — 直观对比
营收规模更大
TLS
是对方的1.3倍
$34.8M
营收增速更快
TLS
高出75.3%
2.1%
净利率更高
NAII
高出27.5%
-34.9%
自由现金流更多
TLS
多$15.2M
$-7.3M
两年增速更快
TLS
近两年复合增速
17.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $34.8M | $46.8M |
| 净利润 | $-2.6M | $-16.3M |
| 毛利率 | 7.2% | 35.0% |
| 营业利润率 | -5.3% | -39.6% |
| 净利率 | -7.3% | -34.9% |
| 营收同比 | 2.1% | 77.4% |
| 净利润同比 | -16.5% | -74.8% |
| 每股收益（稀释后） | $-0.42 | $-0.22 |
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NAIITLS
| Q4 25 | $34.8M | $46.8M | ||
| Q3 25 | $37.7M | $51.4M | ||
| Q2 25 | $33.9M | $36.0M | ||
| Q1 25 | $28.8M | $30.6M | ||
| Q4 24 | $34.1M | $26.4M | ||
| Q3 24 | $33.1M | $23.8M | ||
| Q2 24 | $29.5M | $28.5M | ||
| Q1 24 | $25.1M | $29.6M |
净利润NAIITLS
| Q4 25 | $-2.6M | $-16.3M | ||
| Q3 25 | $-291.0K | $-2.1M | ||
| Q2 25 | $-7.2M | $-9.5M | ||
| Q1 25 | $-2.2M | $-8.6M | ||
| Q4 24 | $-2.2M | $-9.3M | ||
| Q3 24 | $-2.0M | $-28.1M | ||
| Q2 24 | $-1.9M | $-7.8M | ||
| Q1 24 | $-1.6M | $-7.4M |
毛利率NAIITLS
| Q4 25 | 7.2% | 35.0% | ||
| Q3 25 | 11.7% | 39.9% | ||
| Q2 25 | 10.4% | 33.2% | ||
| Q1 25 | 6.3% | 39.8% | ||
| Q4 24 | 4.9% | 40.3% | ||
| Q3 24 | 6.8% | 13.2% | ||
| Q2 24 | 4.8% | 34.1% | ||
| Q1 24 | 7.6% | 37.0% |
营业利润率NAIITLS
| Q4 25 | -5.3% | -39.6% | ||
| Q3 25 | 0.8% | -4.8% | ||
| Q2 25 | -5.7% | -27.5% | ||
| Q1 25 | -7.3% | -29.5% | ||
| Q4 24 | -8.2% | -37.6% | ||
| Q3 24 | -5.5% | -121.4% | ||
| Q2 24 | -8.6% | -30.3% | ||
| Q1 24 | -7.8% | -28.5% |
净利率NAIITLS
| Q4 25 | -7.3% | -34.9% | ||
| Q3 25 | -0.8% | -4.1% | ||
| Q2 25 | -21.3% | -26.5% | ||
| Q1 25 | -7.6% | -28.1% | ||
| Q4 24 | -6.4% | -35.4% | ||
| Q3 24 | -6.0% | -118.0% | ||
| Q2 24 | -6.4% | -27.2% | ||
| Q1 24 | -6.3% | -24.9% |
每股收益（稀释后）NAIITLS
| Q4 25 | $-0.42 | $-0.22 | ||
| Q3 25 | $-0.05 | $-0.03 | ||
| Q2 25 | $-1.21 | $-0.13 | ||
| Q1 25 | $-0.37 | $-0.12 | ||
| Q4 24 | $-0.37 | $-0.13 | ||
| Q3 24 | $-0.33 | $-0.39 | ||
| Q2 24 | $-0.32 | $-0.11 | ||
| Q1 24 | $-0.27 | $-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 | $3.8M | $53.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $67.0M | $96.0M |
| 总资产 | $153.3M | $139.9M |
| 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NAIITLS
| Q4 25 | $3.8M | $53.2M | ||
| Q3 25 | $7.7M | $59.0M | ||
| Q2 25 | $12.3M | $57.0M | ||
| Q1 25 | $10.6M | $57.8M | ||
| Q4 24 | $8.7M | $54.6M | ||
| Q3 24 | $10.2M | $69.8M | ||
| Q2 24 | $12.0M | $80.1M | ||
| Q1 24 | $12.4M | $93.9M |
股东权益NAIITLS
| Q4 25 | $67.0M | $96.0M | ||
| Q3 25 | $69.0M | $119.7M | ||
| Q2 25 | $68.4M | $118.4M | ||
| Q1 25 | $76.6M | $126.1M | ||
| Q4 24 | $79.1M | $127.1M | ||
| Q3 24 | $80.2M | $129.5M | ||
| Q2 24 | $82.6M | $149.1M | ||
| Q1 24 | $84.1M | $154.4M |
总资产NAIITLS
| Q4 25 | $153.3M | $139.9M | ||
| Q3 25 | $156.9M | $164.3M | ||
| Q2 25 | $151.9M | $165.0M | ||
| Q1 25 | $154.9M | $158.1M | ||
| Q4 24 | $156.1M | $158.2M | ||
| Q3 24 | $161.3M | $166.3M | ||
| Q2 24 | $162.3M | $182.4M | ||
| Q1 24 | $153.2M | $195.4M |
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 | $-6.3M | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $-7.3M | $8.0M |
| 自由现金流率自由现金流/营收 | -20.9% | 17.0% |
| 资本支出强度资本支出/营收 | 2.7% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-5.2M | $29.4M |
8季度趋势，按日历期对齐
经营现金流NAIITLS
| Q4 25 | $-6.3M | $8.0M | ||
| Q3 25 | $-4.0M | $9.1M | ||
| Q2 25 | $3.3M | $7.0M | ||
| Q1 25 | $6.0M | $6.1M | ||
| Q4 24 | $37.0K | $-10.5M | ||
| Q3 24 | $-3.4M | $-7.1M | ||
| Q2 24 | $-2.7M | $-8.0M | ||
| Q1 24 | $-3.6M | $-350.0K |
自由现金流NAIITLS
| Q4 25 | $-7.3M | $8.0M | ||
| Q3 25 | $-5.1M | $8.7M | ||
| Q2 25 | $1.9M | $6.8M | ||
| Q1 25 | $5.2M | $6.0M | ||
| Q4 24 | $-1.0M | $-12.4M | ||
| Q3 24 | $-3.7M | $-7.1M | ||
| Q2 24 | $-3.8M | $-8.2M | ||
| Q1 24 | $-3.9M | $-447.0K |
自由现金流率NAIITLS
| Q4 25 | -20.9% | 17.0% | ||
| Q3 25 | -13.4% | 16.9% | ||
| Q2 25 | 5.6% | 19.0% | ||
| Q1 25 | 18.0% | 19.5% | ||
| Q4 24 | -3.0% | -47.0% | ||
| Q3 24 | -11.3% | -30.0% | ||
| Q2 24 | -12.7% | -28.9% | ||
| Q1 24 | -15.5% | -1.5% |
资本支出强度NAIITLS
| Q4 25 | 2.7% | 0.1% | ||
| Q3 25 | 2.7% | 0.9% | ||
| Q2 25 | 4.3% | 0.4% | ||
| Q1 25 | 2.8% | 0.4% | ||
| Q4 24 | 3.1% | 7.1% | ||
| Q3 24 | 0.9% | 0.2% | ||
| Q2 24 | 3.5% | 0.8% | ||
| Q1 24 | 1.1% | 0.3% |
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
NAII
| Private Label Contract Manufacturing | $32.8M | 94% |
| Patent And Trademark Licensing | $2.0M | 6% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
