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网件（NTGR）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
网件的季度营收约是Ribbon Communications Inc.的1.1倍（$182.5M vs $162.6M），网件同比增速更快（0.0% vs -10.3%），过去两年网件的营收复合增速更高（5.3% vs -8.1%）
网件是总部位于美国加利福尼亚州圣何塞的计算机网络设备企业，在全球约22个国家设有分支机构，面向个人消费者、企业及服务提供商研发生产各类网络硬件，业务分为零售、商业客户、服务供应商三大板块。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
NTGR vs RBBN — 直观对比
营收规模更大
NTGR
是对方的1.1倍
$162.6M
营收增速更快
NTGR
高出10.3%
-10.3%
两年增速更快
NTGR
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $182.5M | $162.6M |
| 净利润 | — | $89.1M |
| 毛利率 | 40.4% | 42.9% |
| 营业利润率 | -2.6% | 37.6% |
| 净利率 | — | 54.8% |
| 营收同比 | 0.0% | -10.3% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.03 | $0.50 |
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NTGRRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $182.5M | $227.3M | ||
| Q3 25 | $184.6M | $215.4M | ||
| Q2 25 | $170.5M | $220.6M | ||
| Q1 25 | $162.1M | $181.3M | ||
| Q4 24 | $182.4M | $251.4M | ||
| Q3 24 | $182.9M | $210.2M | ||
| Q2 24 | $143.9M | $192.6M |
净利润NTGRRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | — | — | ||
| Q3 25 | $-4.8M | $-12.1M | ||
| Q2 25 | $-6.4M | $-11.1M | ||
| Q1 25 | $-6.0M | $-26.2M | ||
| Q4 24 | $-8.9M | — | ||
| Q3 24 | $85.1M | $-13.4M | ||
| Q2 24 | $-45.2M | $-16.8M |
毛利率NTGRRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | 40.4% | 53.3% | ||
| Q3 25 | 39.1% | 50.1% | ||
| Q2 25 | 37.5% | 49.6% | ||
| Q1 25 | 34.8% | 45.4% | ||
| Q4 24 | 32.6% | 55.7% | ||
| Q3 24 | 30.9% | 52.1% | ||
| Q2 24 | 22.1% | 50.8% |
营业利润率NTGRRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -2.6% | 4.1% | ||
| Q3 25 | -3.8% | 1.3% | ||
| Q2 25 | -5.6% | 1.9% | ||
| Q1 25 | -7.9% | -10.8% | ||
| Q4 24 | -8.3% | 13.2% | ||
| Q3 24 | 52.4% | -0.4% | ||
| Q2 24 | -32.6% | -1.0% |
净利率NTGRRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | — | — | ||
| Q3 25 | -2.6% | -5.6% | ||
| Q2 25 | -3.8% | -5.0% | ||
| Q1 25 | -3.7% | -14.5% | ||
| Q4 24 | -4.9% | — | ||
| Q3 24 | 46.5% | -6.4% | ||
| Q2 24 | -31.4% | -8.7% |
每股收益（稀释后）NTGRRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-0.03 | $0.50 | ||
| Q3 25 | $-0.17 | $-0.07 | ||
| Q2 25 | $-0.22 | $-0.06 | ||
| Q1 25 | $-0.21 | $-0.15 | ||
| Q4 24 | $-0.29 | $0.05 | ||
| Q3 24 | $2.90 | $-0.08 | ||
| Q2 24 | $-1.56 | $-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 | $323.0M | $67.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $497.8M | $419.1M |
| 总资产 | $836.3M | — |
| 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NTGRRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $323.0M | $96.4M | ||
| Q3 25 | $326.4M | $74.8M | ||
| Q2 25 | $363.5M | $60.5M | ||
| Q1 25 | $391.9M | $71.2M | ||
| Q4 24 | $408.7M | $87.8M | ||
| Q3 24 | $395.7M | $37.2M | ||
| Q2 24 | $294.3M | $64.6M |
总债务NTGRRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | $342.1M | ||
| Q3 25 | — | $344.3M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $347.4M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M |
股东权益NTGRRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $497.8M | $449.0M | ||
| Q3 25 | $506.8M | $360.1M | ||
| Q2 25 | $523.2M | $370.4M | ||
| Q1 25 | $534.2M | $381.8M | ||
| Q4 24 | $541.1M | $404.6M | ||
| Q3 24 | $550.3M | $395.5M | ||
| Q2 24 | $459.4M | $405.0M |
总资产NTGRRBBN
| Q1 26 | — | — | ||
| Q4 25 | $836.3M | $1.2B | ||
| Q3 25 | $810.8M | $1.1B | ||
| Q2 25 | $803.5M | $1.1B | ||
| Q1 25 | $814.2M | $1.1B | ||
| Q4 24 | $850.2M | $1.2B | ||
| Q3 24 | $862.6M | $1.1B | ||
| Q2 24 | $754.1M | $1.1B |
负债/权益比NTGRRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
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 | $19.5M | — |
| 自由现金流经营现金流 - 资本支出 | $13.6M | — |
| 自由现金流率自由现金流/营收 | 7.5% | — |
| 资本支出强度资本支出/营收 | 3.2% | — |
| 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 | $-18.9M | — |
8季度趋势，按日历期对齐
经营现金流NTGRRBBN
| Q1 26 | — | — | ||
| Q4 25 | $19.5M | $29.2M | ||
| Q3 25 | $-7.4M | $26.5M | ||
| Q2 25 | $-1.8M | $-795.0K | ||
| Q1 25 | $-8.7M | $-3.5M | ||
| Q4 24 | $21.5M | $61.8M | ||
| Q3 24 | $107.7M | $-14.8M | ||
| Q2 24 | $18.4M | $-9.8M |
自由现金流NTGRRBBN
| Q1 26 | — | — | ||
| Q4 25 | $13.6M | $27.3M | ||
| Q3 25 | $-17.1M | $21.0M | ||
| Q2 25 | $-5.3M | $-6.5M | ||
| Q1 25 | $-10.1M | $-15.7M | ||
| Q4 24 | $19.0M | $53.8M | ||
| Q3 24 | $106.0M | $-23.7M | ||
| Q2 24 | $16.1M | $-12.9M |
自由现金流率NTGRRBBN
| Q1 26 | — | — | ||
| Q4 25 | 7.5% | 12.0% | ||
| Q3 25 | -9.3% | 9.7% | ||
| Q2 25 | -3.1% | -2.9% | ||
| Q1 25 | -6.3% | -8.7% | ||
| Q4 24 | 10.4% | 21.4% | ||
| Q3 24 | 58.0% | -11.3% | ||
| Q2 24 | 11.2% | -6.7% |
资本支出强度NTGRRBBN
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 0.9% | ||
| Q3 25 | 5.3% | 2.6% | ||
| Q2 25 | 2.1% | 2.6% | ||
| Q1 25 | 0.9% | 6.7% | ||
| Q4 24 | 1.4% | 3.2% | ||
| Q3 24 | 0.9% | 4.2% | ||
| Q2 24 | 1.6% | 1.6% |
现金转化率NTGRRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 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
NTGR
| Other | $93.4M | 51% |
| Sales Channel Directly To Consumer | $89.1M | 49% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
