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网件（NTGR）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
GIBRALTAR INDUSTRIES, INC.的季度营收约是网件的1.2倍（$225.0M vs $182.5M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs 0.0%），GIBRALTAR INDUSTRIES, INC.自由现金流更多（$26.2M vs $13.6M），过去两年网件的营收复合增速更高（5.3% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
NTGR vs ROCK — 直观对比
营收规模更大
ROCK
是对方的1.2倍
$182.5M
营收增速更快
ROCK
高出24.9%
0.0%
自由现金流更多
ROCK
多$12.6M
$13.6M
两年增速更快
NTGR
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $182.5M | $225.0M |
| 净利润 | — | — |
| 毛利率 | 40.4% | 25.3% |
| 营业利润率 | -2.6% | 7.9% |
| 净利率 | — | — |
| 营收同比 | 0.0% | 24.9% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.03 | — |
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NTGRROCK
| Q4 25 | $182.5M | $225.0M | ||
| Q3 25 | $184.6M | $310.9M | ||
| Q2 25 | $170.5M | $309.5M | ||
| Q1 25 | $162.1M | $290.0M | ||
| Q4 24 | $182.4M | $180.1M | ||
| Q3 24 | $182.9M | $277.1M | ||
| Q2 24 | $143.9M | $273.6M | ||
| Q1 24 | $164.6M | $292.5M |
净利润NTGRROCK
| Q4 25 | — | — | ||
| Q3 25 | $-4.8M | $-89.1M | ||
| Q2 25 | $-6.4M | $26.0M | ||
| Q1 25 | $-6.0M | $21.1M | ||
| Q4 24 | $-8.9M | — | ||
| Q3 24 | $85.1M | $34.0M | ||
| Q2 24 | $-45.2M | $32.2M | ||
| Q1 24 | $-18.6M | $24.9M |
毛利率NTGRROCK
| Q4 25 | 40.4% | 25.3% | ||
| Q3 25 | 39.1% | 26.6% | ||
| Q2 25 | 37.5% | 28.4% | ||
| Q1 25 | 34.8% | 26.8% | ||
| Q4 24 | 32.6% | 29.0% | ||
| Q3 24 | 30.9% | 29.4% | ||
| Q2 24 | 22.1% | 30.5% | ||
| Q1 24 | 29.3% | 28.9% |
营业利润率NTGRROCK
| Q4 25 | -2.6% | 7.9% | ||
| Q3 25 | -3.8% | 12.8% | ||
| Q2 25 | -5.6% | 12.8% | ||
| Q1 25 | -7.9% | 8.8% | ||
| Q4 24 | -8.3% | 13.3% | ||
| Q3 24 | 52.4% | 15.6% | ||
| Q2 24 | -32.6% | 14.9% | ||
| Q1 24 | -13.2% | 10.8% |
净利率NTGRROCK
| Q4 25 | — | — | ||
| Q3 25 | -2.6% | -28.6% | ||
| Q2 25 | -3.8% | 8.4% | ||
| Q1 25 | -3.7% | 7.3% | ||
| Q4 24 | -4.9% | — | ||
| Q3 24 | 46.5% | 12.3% | ||
| Q2 24 | -31.4% | 11.8% | ||
| Q1 24 | -11.3% | 8.5% |
每股收益（稀释后）NTGRROCK
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $-0.17 | $-2.98 | ||
| Q2 25 | $-0.22 | $0.87 | ||
| Q1 25 | $-0.21 | — | ||
| Q4 24 | $-0.29 | — | ||
| Q3 24 | $2.90 | $1.11 | ||
| Q2 24 | $-1.56 | $1.05 | ||
| Q1 24 | $-0.63 | — |
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 | $115.7M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $497.8M | $950.4M |
| 总资产 | $836.3M | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资NTGRROCK
| Q4 25 | $323.0M | $115.7M | ||
| Q3 25 | $326.4M | $89.4M | ||
| Q2 25 | $363.5M | $43.3M | ||
| Q1 25 | $391.9M | $25.1M | ||
| Q4 24 | $408.7M | $269.5M | ||
| Q3 24 | $395.7M | $228.9M | ||
| Q2 24 | $294.3M | $179.1M | ||
| Q1 24 | $289.4M | $146.7M |
总债务NTGRROCK
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
股东权益NTGRROCK
| Q4 25 | $497.8M | $950.4M | ||
| Q3 25 | $506.8M | $951.8M | ||
| Q2 25 | $523.2M | $1.0B | ||
| Q1 25 | $534.2M | $1.0B | ||
| Q4 24 | $541.1M | $1.0B | ||
| Q3 24 | $550.3M | $1.0B | ||
| Q2 24 | $459.4M | $975.7M | ||
| Q1 24 | $511.4M | $940.2M |
总资产NTGRROCK
| Q4 25 | $836.3M | $1.4B | ||
| Q3 25 | $810.8M | $1.4B | ||
| Q2 25 | $803.5M | $1.5B | ||
| Q1 25 | $814.2M | $1.4B | ||
| Q4 24 | $850.2M | $1.4B | ||
| Q3 24 | $862.6M | $1.4B | ||
| Q2 24 | $754.1M | $1.4B | ||
| Q1 24 | $801.3M | $1.3B |
负债/权益比NTGRROCK
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $13.6M | $26.2M |
| 自由现金流率自由现金流/营收 | 7.5% | 11.7% |
| 资本支出强度资本支出/营收 | 3.2% | 4.1% |
| 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 | $-18.9M | $120.6M |
8季度趋势，按日历期对齐
经营现金流NTGRROCK
| Q4 25 | $19.5M | $35.5M | ||
| Q3 25 | $-7.4M | $73.0M | ||
| Q2 25 | $-1.8M | $44.9M | ||
| Q1 25 | $-8.7M | $13.7M | ||
| Q4 24 | $21.5M | $19.9M | ||
| Q3 24 | $107.7M | $64.7M | ||
| Q2 24 | $18.4M | $36.5M | ||
| Q1 24 | $17.2M | $53.2M |
自由现金流NTGRROCK
| Q4 25 | $13.6M | $26.2M | ||
| Q3 25 | $-17.1M | $64.8M | ||
| Q2 25 | $-5.3M | $27.3M | ||
| Q1 25 | $-10.1M | $2.3M | ||
| Q4 24 | $19.0M | $14.1M | ||
| Q3 24 | $106.0M | $60.5M | ||
| Q2 24 | $16.1M | $33.5M | ||
| Q1 24 | $14.7M | $48.8M |
自由现金流率NTGRROCK
| Q4 25 | 7.5% | 11.7% | ||
| Q3 25 | -9.3% | 20.8% | ||
| Q2 25 | -3.1% | 8.8% | ||
| Q1 25 | -6.3% | 0.8% | ||
| Q4 24 | 10.4% | 7.8% | ||
| Q3 24 | 58.0% | 21.8% | ||
| Q2 24 | 11.2% | 12.2% | ||
| Q1 24 | 8.9% | 16.7% |
资本支出强度NTGRROCK
| Q4 25 | 3.2% | 4.1% | ||
| Q3 25 | 5.3% | 2.6% | ||
| Q2 25 | 2.1% | 5.7% | ||
| Q1 25 | 0.9% | 3.9% | ||
| Q4 24 | 1.4% | 3.3% | ||
| Q3 24 | 0.9% | 1.5% | ||
| Q2 24 | 1.6% | 1.1% | ||
| Q1 24 | 1.5% | 1.5% |
现金转化率NTGRROCK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.27× | 1.90× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
