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安森美半导体（ON）与VIAVI SOLUTIONS INC.（VIAV）财务数据对比。点击上方公司名可切换其他公司
安森美半导体的季度营收约是VIAVI SOLUTIONS INC.的4.2倍（$1.6B vs $369.3M），安森美半导体净利率更高（16.4% vs -13.0%，领先29.5%），VIAVI SOLUTIONS INC.同比增速更快（36.4% vs -10.0%），安森美半导体自由现金流更多（$372.4M vs $36.9M），过去两年VIAVI SOLUTIONS INC.的营收复合增速更高（22.5% vs -12.3%）
安森美半导体旗下原仙童半导体是总部位于美国加利福尼亚州圣何塞的半导体企业，1957年由从肖克利半导体实验室离职的“八叛逆”创立，是晶体管和集成电路制造领域的先驱，曾历经多次股权变更，1997年再度独立运营后并入安森美。
VIAVI Solutions前身为JDS Uniphase（JDSU）的一部分，是总部位于美国亚利桑那州钱德勒的网络测试、测量与保障技术企业，主营网络测试和监控设备，同时研发的光学技术可应用于材料质量管控、货币防伪、3D动作传感等多个领域，微软Kinect体感游戏控制器的相关技术也来自该公司。
ON vs VIAV — 直观对比
营收规模更大
ON
是对方的4.2倍
$369.3M
营收增速更快
VIAV
高出46.3%
-10.0%
净利率更高
ON
高出29.5%
-13.0%
自由现金流更多
ON
多$335.5M
$36.9M
两年增速更快
VIAV
近两年复合增速
-12.3%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $369.3M |
| 净利润 | $255.0M | $-48.1M |
| 毛利率 | 37.9% | 57.0% |
| 营业利润率 | 17.0% | 3.1% |
| 净利率 | 16.4% | -13.0% |
| 营收同比 | -10.0% | 36.4% |
| 净利润同比 | -32.9% | -628.6% |
| 每股收益（稀释后） | $0.63 | $-0.21 |
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ONVIAV
| Q4 25 | $1.6B | $369.3M | ||
| Q3 25 | $1.5B | $299.1M | ||
| Q2 25 | $1.4B | $290.5M | ||
| Q1 25 | — | $284.8M | ||
| Q4 24 | $1.7B | $270.8M | ||
| Q3 24 | $1.8B | $238.2M | ||
| Q2 24 | $1.7B | $252.0M | ||
| Q1 24 | $1.9B | $246.0M |
净利润ONVIAV
| Q4 25 | $255.0M | $-48.1M | ||
| Q3 25 | $170.3M | $-21.4M | ||
| Q2 25 | $-486.1M | $8.0M | ||
| Q1 25 | — | $19.5M | ||
| Q4 24 | $379.9M | $9.1M | ||
| Q3 24 | $401.7M | $-1.8M | ||
| Q2 24 | $338.2M | $-21.7M | ||
| Q1 24 | $453.0M | $-24.6M |
毛利率ONVIAV
| Q4 25 | 37.9% | 57.0% | ||
| Q3 25 | 37.6% | 56.5% | ||
| Q2 25 | 20.3% | 56.3% | ||
| Q1 25 | — | 56.4% | ||
| Q4 24 | 45.2% | 59.4% | ||
| Q3 24 | 45.4% | 57.1% | ||
| Q2 24 | 45.2% | 57.8% | ||
| Q1 24 | 45.8% | 56.1% |
营业利润率ONVIAV
| Q4 25 | 17.0% | 3.1% | ||
| Q3 25 | 13.2% | 2.5% | ||
| Q2 25 | -39.7% | 5.3% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | 23.7% | 8.2% | ||
| Q3 24 | 25.3% | 4.8% | ||
| Q2 24 | 22.4% | -2.3% | ||
| Q1 24 | 28.2% | -4.8% |
净利率ONVIAV
| Q4 25 | 16.4% | -13.0% | ||
| Q3 25 | 11.6% | -7.2% | ||
| Q2 25 | -33.6% | 2.8% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | 22.1% | 3.4% | ||
| Q3 24 | 22.8% | -0.8% | ||
| Q2 24 | 19.5% | -8.6% | ||
| Q1 24 | 24.3% | -10.0% |
每股收益（稀释后）ONVIAV
| Q4 25 | $0.63 | $-0.21 | ||
| Q3 25 | $0.41 | $-0.10 | ||
| Q2 25 | $-1.15 | $0.03 | ||
| Q1 25 | — | $0.09 | ||
| Q4 24 | $0.88 | $0.04 | ||
| Q3 24 | $0.93 | $-0.01 | ||
| Q2 24 | $0.78 | $-0.10 | ||
| Q1 24 | $1.04 | $-0.11 |
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 | $2.9B | $767.4M |
| 总债务越低越好 | $3.4B | $1.2B |
| 股东权益账面价值 | $7.9B | $834.3M |
| 总资产 | $13.0B | $2.8B |
| 负债/权益比越低杠杆越低 | 0.43× | 1.46× |
8季度趋势，按日历期对齐
现金及短期投资ONVIAV
| Q4 25 | $2.9B | $767.4M | ||
| Q3 25 | $2.8B | $545.6M | ||
| Q2 25 | $3.0B | $425.3M | ||
| Q1 25 | — | $396.8M | ||
| Q4 24 | $3.0B | $509.4M | ||
| Q3 24 | $2.8B | $493.1M | ||
| Q2 24 | $2.7B | $491.2M | ||
| Q1 24 | $2.6B | $482.6M |
总债务ONVIAV
| Q4 25 | $3.4B | $1.2B | ||
| Q3 25 | $3.4B | $640.5M | ||
| Q2 25 | $3.4B | $396.3M | ||
| Q1 25 | — | $396.1M | ||
| Q4 24 | $3.4B | $639.3M | ||
| Q3 24 | $3.4B | $637.6M | ||
| Q2 24 | $3.4B | $636.0M | ||
| Q1 24 | $3.4B | $634.4M |
股东权益ONVIAV
| Q4 25 | $7.9B | $834.3M | ||
| Q3 25 | $7.9B | $723.9M | ||
| Q2 25 | $8.0B | $780.2M | ||
| Q1 25 | — | $728.8M | ||
| Q4 24 | $8.8B | $682.8M | ||
| Q3 24 | $8.6B | $702.1M | ||
| Q2 24 | $8.3B | $681.6M | ||
| Q1 24 | $8.1B | $705.1M |
总资产ONVIAV
| Q4 25 | $13.0B | $2.8B | ||
| Q3 25 | $13.1B | $2.1B | ||
| Q2 25 | $13.3B | $2.0B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $14.1B | $1.7B | ||
| Q3 24 | $13.9B | $1.7B | ||
| Q2 24 | $13.7B | $1.7B | ||
| Q1 24 | $13.5B | $1.7B |
负债/权益比ONVIAV
| Q4 25 | 0.43× | 1.46× | ||
| Q3 25 | 0.43× | 0.88× | ||
| Q2 25 | 0.42× | 0.51× | ||
| Q1 25 | — | 0.54× | ||
| Q4 24 | 0.38× | 0.94× | ||
| Q3 24 | 0.39× | 0.91× | ||
| Q2 24 | 0.41× | 0.93× | ||
| Q1 24 | 0.42× | 0.90× |
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 | $418.7M | $42.5M |
| 自由现金流经营现金流 - 资本支出 | $372.4M | $36.9M |
| 自由现金流率自由现金流/营收 | 24.0% | 10.0% |
| 资本支出强度资本支出/营收 | 3.0% | 1.5% |
| 现金转化率经营现金流/净利润 | 1.64× | — |
| 过去12个月自由现金流最近4个季度 | $1.4B | $78.7M |
8季度趋势，按日历期对齐
经营现金流ONVIAV
| Q4 25 | $418.7M | $42.5M | ||
| Q3 25 | $184.3M | $31.0M | ||
| Q2 25 | $602.3M | $23.8M | ||
| Q1 25 | — | $7.8M | ||
| Q4 24 | $579.7M | $44.7M | ||
| Q3 24 | $465.8M | $13.5M | ||
| Q2 24 | $362.2M | $26.2M | ||
| Q1 24 | $498.7M | $19.5M |
自由现金流ONVIAV
| Q4 25 | $372.4M | $36.9M | ||
| Q3 25 | $106.1M | $22.5M | ||
| Q2 25 | $454.7M | $18.3M | ||
| Q1 25 | — | $1.0M | ||
| Q4 24 | $434.8M | $36.5M | ||
| Q3 24 | $293.6M | $6.2M | ||
| Q2 24 | $207.7M | $22.4M | ||
| Q1 24 | $276.3M | $16.3M |
自由现金流率ONVIAV
| Q4 25 | 24.0% | 10.0% | ||
| Q3 25 | 7.2% | 7.5% | ||
| Q2 25 | 31.5% | 6.3% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 25.2% | 13.5% | ||
| Q3 24 | 16.7% | 2.6% | ||
| Q2 24 | 12.0% | 8.9% | ||
| Q1 24 | 14.8% | 6.6% |
资本支出强度ONVIAV
| Q4 25 | 3.0% | 1.5% | ||
| Q3 25 | 5.3% | 2.8% | ||
| Q2 25 | 10.2% | 1.9% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | 8.4% | 3.0% | ||
| Q3 24 | 9.8% | 3.1% | ||
| Q2 24 | 8.9% | 1.5% | ||
| Q1 24 | 11.9% | 1.3% |
现金转化率ONVIAV
| Q4 25 | 1.64× | — | ||
| Q3 25 | 1.08× | — | ||
| Q2 25 | — | 2.98× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | 1.53× | 4.91× | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.07× | — | ||
| Q1 24 | 1.10× | — |
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
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
VIAV
| Products | $317.3M | 86% |
| Services | $52.0M | 14% |
