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网件（NTGR）与RESOURCES CONNECTION, INC.（RGP）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RESOURCES CONNECTION, INC.的1.5倍（$182.5M vs $117.7M），网件同比增速更快（0.0% vs -19.2%），RESOURCES CONNECTION, INC.自由现金流更多（$15.6M vs $13.6M），过去两年网件的营收复合增速更高（5.3% vs -11.8%）
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。
RGP原名 Resources Global Professionals，是 Resources Connection, Inc. 的核心运营主体，面向全球客户提供多领域专业咨询服务，覆盖财务会计、信息管理、治理风险合规、人力资本、法务监管、企业咨询与重组、战略传播以及供应链管理等板块。
NTGR vs RGP — 直观对比
营收规模更大
NTGR
是对方的1.5倍
$117.7M
营收增速更快
NTGR
高出19.2%
-19.2%
自由现金流更多
RGP
多$1.9M
$13.6M
两年增速更快
NTGR
近两年复合增速
-11.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $182.5M | $117.7M |
| 净利润 | — | $-12.7M |
| 毛利率 | 40.4% | 37.1% |
| 营业利润率 | -2.6% | -10.3% |
| 净利率 | — | -10.8% |
| 营收同比 | 0.0% | -19.2% |
| 净利润同比 | — | 81.6% |
| 每股收益（稀释后） | $-0.03 | $-0.38 |
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NTGRRGP
| Q4 25 | $182.5M | $117.7M | ||
| Q3 25 | $184.6M | $120.2M | ||
| Q2 25 | $170.5M | $139.3M | ||
| Q1 25 | $162.1M | $129.4M | ||
| Q4 24 | $182.4M | $145.6M | ||
| Q3 24 | $182.9M | $136.9M | ||
| Q2 24 | $143.9M | $148.2M | ||
| Q1 24 | $164.6M | $151.3M |
净利润NTGRRGP
| Q4 25 | — | $-12.7M | ||
| Q3 25 | $-4.8M | $-2.4M | ||
| Q2 25 | $-6.4M | $-73.3M | ||
| Q1 25 | $-6.0M | $-44.1M | ||
| Q4 24 | $-8.9M | $-68.7M | ||
| Q3 24 | $85.1M | $-5.7M | ||
| Q2 24 | $-45.2M | $10.5M | ||
| Q1 24 | $-18.6M | $2.5M |
毛利率NTGRRGP
| Q4 25 | 40.4% | 37.1% | ||
| Q3 25 | 39.1% | 39.5% | ||
| Q2 25 | 37.5% | 40.2% | ||
| Q1 25 | 34.8% | 35.1% | ||
| Q4 24 | 32.6% | 38.5% | ||
| Q3 24 | 30.9% | 36.5% | ||
| Q2 24 | 22.1% | 40.2% | ||
| Q1 24 | 29.3% | 37.0% |
营业利润率NTGRRGP
| Q4 25 | -2.6% | -10.3% | ||
| Q3 25 | -3.8% | -1.7% | ||
| Q2 25 | -5.6% | -47.0% | ||
| Q1 25 | -7.9% | -38.4% | ||
| Q4 24 | -8.3% | -52.7% | ||
| Q3 24 | 52.4% | -3.5% | ||
| Q2 24 | -32.6% | 7.6% | ||
| Q1 24 | -13.2% | 2.8% |
净利率NTGRRGP
| Q4 25 | — | -10.8% | ||
| Q3 25 | -2.6% | -2.0% | ||
| Q2 25 | -3.8% | -52.6% | ||
| Q1 25 | -3.7% | -34.0% | ||
| Q4 24 | -4.9% | -47.2% | ||
| Q3 24 | 46.5% | -4.2% | ||
| Q2 24 | -31.4% | 7.1% | ||
| Q1 24 | -11.3% | 1.7% |
每股收益（稀释后）NTGRRGP
| Q4 25 | $-0.03 | $-0.38 | ||
| Q3 25 | $-0.17 | $-0.07 | ||
| Q2 25 | $-0.22 | $-2.21 | ||
| Q1 25 | $-0.21 | $-1.34 | ||
| Q4 24 | $-0.29 | $-2.08 | ||
| Q3 24 | $2.90 | $-0.17 | ||
| Q2 24 | $-1.56 | $0.31 | ||
| Q1 24 | $-0.63 | $0.08 |
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 | $89.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $497.8M | $194.6M |
| 总资产 | $836.3M | $289.3M |
| 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NTGRRGP
| Q4 25 | $323.0M | $89.8M | ||
| Q3 25 | $326.4M | $77.5M | ||
| Q2 25 | $363.5M | $86.1M | ||
| Q1 25 | $391.9M | $72.5M | ||
| Q4 24 | $408.7M | $78.2M | ||
| Q3 24 | $395.7M | $89.6M | ||
| Q2 24 | $294.3M | $108.9M | ||
| Q1 24 | $289.4M | $113.8M |
股东权益NTGRRGP
| Q4 25 | $497.8M | $194.6M | ||
| Q3 25 | $506.8M | $206.4M | ||
| Q2 25 | $523.2M | $207.1M | ||
| Q1 25 | $534.2M | $277.8M | ||
| Q4 24 | $541.1M | $325.7M | ||
| Q3 24 | $550.3M | $407.2M | ||
| Q2 24 | $459.4M | $418.8M | ||
| Q1 24 | $511.4M | $414.9M |
总资产NTGRRGP
| Q4 25 | $836.3M | $289.3M | ||
| Q3 25 | $810.8M | $287.2M | ||
| Q2 25 | $803.5M | $304.7M | ||
| Q1 25 | $814.2M | $375.6M | ||
| Q4 24 | $850.2M | $424.9M | ||
| Q3 24 | $862.6M | $512.9M | ||
| Q2 24 | $754.1M | $510.9M | ||
| Q1 24 | $801.3M | $523.2M |
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 | $15.9M |
| 自由现金流经营现金流 - 资本支出 | $13.6M | $15.6M |
| 自由现金流率自由现金流/营收 | 7.5% | 13.2% |
| 资本支出强度资本支出/营收 | 3.2% | 0.3% |
| 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 | $24.3M |
8季度趋势，按日历期对齐
经营现金流NTGRRGP
| Q4 25 | $19.5M | $15.9M | ||
| Q3 25 | $-7.4M | $-7.8M | ||
| Q2 25 | $-1.8M | $16.8M | ||
| Q1 25 | $-8.7M | $659.0K | ||
| Q4 24 | $21.5M | $1.8M | ||
| Q3 24 | $107.7M | $-309.0K | ||
| Q2 24 | $18.4M | $3.2M | ||
| Q1 24 | $17.2M | $20.5M |
自由现金流NTGRRGP
| Q4 25 | $13.6M | $15.6M | ||
| Q3 25 | $-17.1M | $-8.0M | ||
| Q2 25 | $-5.3M | $16.5M | ||
| Q1 25 | $-10.1M | $238.0K | ||
| Q4 24 | $19.0M | $61.0K | ||
| Q3 24 | $106.0M | $-575.0K | ||
| Q2 24 | $16.1M | $3.0M | ||
| Q1 24 | $14.7M | $20.4M |
自由现金流率NTGRRGP
| Q4 25 | 7.5% | 13.2% | ||
| Q3 25 | -9.3% | -6.6% | ||
| Q2 25 | -3.1% | 11.8% | ||
| Q1 25 | -6.3% | 0.2% | ||
| Q4 24 | 10.4% | 0.0% | ||
| Q3 24 | 58.0% | -0.4% | ||
| Q2 24 | 11.2% | 2.1% | ||
| Q1 24 | 8.9% | 13.5% |
资本支出强度NTGRRGP
| Q4 25 | 3.2% | 0.3% | ||
| Q3 25 | 5.3% | 0.1% | ||
| Q2 25 | 2.1% | 0.2% | ||
| Q1 25 | 0.9% | 0.3% | ||
| Q4 24 | 1.4% | 1.2% | ||
| Q3 24 | 0.9% | 0.2% | ||
| Q2 24 | 1.6% | 0.1% | ||
| Q1 24 | 1.5% | 0.1% |
现金转化率NTGRRGP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | — | 0.30× | ||
| Q1 24 | — | 8.04× |
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% |
RGP
| US | $93.7M | 80% |
| Non Us | $24.0M | 20% |
