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巴诺书店（NE）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.的季度营收约是巴诺书店的1.1倍（$814.9M vs $764.4M），Ubiquiti Inc.净利率更高（28.7% vs 11.3%，领先17.3%），Ubiquiti Inc.同比增速更快（35.8% vs -17.6%），Ubiquiti Inc.自由现金流更多（$260.3M vs $35.4M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 9.5%）
巴诺书店是美国知名连锁图书零售企业，拥有全美数量最多的实体零售网点，目前在美国境内共运营超过700家线下门店，为消费者提供各类书籍、文创产品及相关文化消费服务。
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。
NE vs UI — 直观对比
营收规模更大
UI
是对方的1.1倍
$764.4M
营收增速更快
UI
高出53.4%
-17.6%
净利率更高
UI
高出17.3%
11.3%
自由现金流更多
UI
多$224.9M
$35.4M
两年增速更快
UI
近两年复合增速
9.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $764.4M | $814.9M |
| 净利润 | $86.6M | $233.6M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 5.6% | 35.9% |
| 净利率 | 11.3% | 28.7% |
| 营收同比 | -17.6% | 35.8% |
| 净利润同比 | -10.4% | 70.8% |
| 每股收益（稀释后） | $0.54 | $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NEUI
| Q4 25 | $764.4M | $814.9M | ||
| Q3 25 | $798.0M | $733.8M | ||
| Q2 25 | $848.7M | $759.2M | ||
| Q1 25 | $874.5M | $664.2M | ||
| Q4 24 | $927.3M | $599.9M | ||
| Q3 24 | $800.5M | $550.3M | ||
| Q2 24 | $692.8M | $507.5M | ||
| Q1 24 | $637.1M | $493.0M |
净利润NEUI
| Q4 25 | $86.6M | $233.6M | ||
| Q3 25 | $-21.1M | $207.9M | ||
| Q2 25 | $42.9M | $266.7M | ||
| Q1 25 | $108.3M | $180.4M | ||
| Q4 24 | $96.6M | $136.8M | ||
| Q3 24 | $61.2M | $128.0M | ||
| Q2 24 | $195.0M | $103.8M | ||
| Q1 24 | $95.5M | $76.3M |
毛利率NEUI
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 40.2% | ||
| Q1 24 | — | 35.3% |
营业利润率NEUI
| Q4 25 | 5.6% | 35.9% | ||
| Q3 25 | 6.3% | 35.7% | ||
| Q2 25 | 15.9% | 34.4% | ||
| Q1 25 | 21.4% | 34.2% | ||
| Q4 24 | 18.4% | 29.8% | ||
| Q3 24 | 14.4% | 30.7% | ||
| Q2 24 | 30.3% | 27.3% | ||
| Q1 24 | 16.9% | 22.6% |
净利率NEUI
| Q4 25 | 11.3% | 28.7% | ||
| Q3 25 | -2.6% | 28.3% | ||
| Q2 25 | 5.1% | 35.1% | ||
| Q1 25 | 12.4% | 27.2% | ||
| Q4 24 | 10.4% | 22.8% | ||
| Q3 24 | 7.6% | 23.3% | ||
| Q2 24 | 28.1% | 20.5% | ||
| Q1 24 | 15.0% | 15.5% |
每股收益（稀释后）NEUI
| Q4 25 | $0.54 | $3.86 | ||
| Q3 25 | $-0.13 | $3.43 | ||
| Q2 25 | $0.27 | $4.40 | ||
| Q1 25 | $0.67 | $2.98 | ||
| Q4 24 | $0.56 | $2.26 | ||
| Q3 24 | $0.40 | $2.12 | ||
| Q2 24 | $1.34 | $1.72 | ||
| Q1 24 | $0.66 | $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 | $471.4M | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $4.5B | $1.0B |
| 总资产 | $7.5B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资NEUI
| Q4 25 | $471.4M | $302.8M | ||
| Q3 25 | $477.9M | $177.2M | ||
| Q2 25 | $338.2M | $149.7M | ||
| Q1 25 | $303.8M | $151.0M | ||
| Q4 24 | $247.3M | $133.1M | ||
| Q3 24 | $391.9M | $165.2M | ||
| Q2 24 | $162.9M | $126.3M | ||
| Q1 24 | $212.5M | $102.5M |
总债务NEUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益NEUI
| Q4 25 | $4.5B | $1.0B | ||
| Q3 25 | $4.5B | $828.4M | ||
| Q2 25 | $4.6B | $668.3M | ||
| Q1 25 | $4.7B | $436.1M | ||
| Q4 24 | $4.7B | $290.4M | ||
| Q3 24 | $4.7B | $188.1M | ||
| Q2 24 | $4.0B | $95.1M | ||
| Q1 24 | $3.9B | $25.9M |
总资产NEUI
| Q4 25 | $7.5B | $1.6B | ||
| Q3 25 | $7.6B | $1.5B | ||
| Q2 25 | $7.7B | $1.5B | ||
| Q1 25 | $7.9B | $1.3B | ||
| Q4 24 | $8.0B | $1.2B | ||
| Q3 24 | $8.0B | $1.2B | ||
| Q2 24 | $5.6B | $1.2B | ||
| Q1 24 | $5.4B | $1.2B |
负债/权益比NEUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 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 | $187.1M | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $35.4M | $260.3M |
| 自由现金流率自由现金流/营收 | 4.6% | 31.9% |
| 资本支出强度资本支出/营收 | 19.9% | 0.4% |
| 现金转化率经营现金流/净利润 | 2.16× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $432.2M | $699.5M |
8季度趋势，按日历期对齐
经营现金流NEUI
| Q4 25 | $187.1M | $263.9M | ||
| Q3 25 | $277.1M | $198.5M | ||
| Q2 25 | $216.4M | $130.4M | ||
| Q1 25 | $271.1M | $123.6M | ||
| Q4 24 | $136.2M | $152.4M | ||
| Q3 24 | $283.8M | $233.7M | ||
| Q2 24 | $106.8M | $231.4M | ||
| Q1 24 | $128.7M | $163.9M |
自由现金流NEUI
| Q4 25 | $35.4M | $260.3M | ||
| Q3 25 | $139.5M | $193.3M | ||
| Q2 25 | $99.8M | $125.2M | ||
| Q1 25 | $157.5M | $120.7M | ||
| Q4 24 | $-4.4M | $150.4M | ||
| Q3 24 | $156.8M | $231.1M | ||
| Q2 24 | $-34.3M | $229.5M | ||
| Q1 24 | $-37.9M | $160.6M |
自由现金流率NEUI
| Q4 25 | 4.6% | 31.9% | ||
| Q3 25 | 17.5% | 26.3% | ||
| Q2 25 | 11.8% | 16.5% | ||
| Q1 25 | 18.0% | 18.2% | ||
| Q4 24 | -0.5% | 25.1% | ||
| Q3 24 | 19.6% | 42.0% | ||
| Q2 24 | -4.9% | 45.2% | ||
| Q1 24 | -6.0% | 32.6% |
资本支出强度NEUI
| Q4 25 | 19.9% | 0.4% | ||
| Q3 25 | 17.3% | 0.7% | ||
| Q2 25 | 13.7% | 0.7% | ||
| Q1 25 | 13.0% | 0.4% | ||
| Q4 24 | 15.2% | 0.3% | ||
| Q3 24 | 15.9% | 0.5% | ||
| Q2 24 | 20.4% | 0.4% | ||
| Q1 24 | 26.2% | 0.7% |
现金转化率NEUI
| Q4 25 | 2.16× | 1.13× | ||
| Q3 25 | — | 0.95× | ||
| Q2 25 | 5.05× | 0.49× | ||
| Q1 25 | 2.50× | 0.68× | ||
| Q4 24 | 1.41× | 1.11× | ||
| Q3 24 | 4.64× | 1.83× | ||
| Q2 24 | 0.55× | 2.23× | ||
| Q1 24 | 1.35× | 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
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
