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Pangaea Logistics Solutions Ltd.（PANL）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
Pangaea Logistics Solutions Ltd.的季度营收约是Ribbon Communications Inc.的1.1倍（$183.9M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs 6.5%，领先48.3%），Pangaea Logistics Solutions Ltd.同比增速更快（24.9% vs -10.3%），过去两年Pangaea Logistics Solutions Ltd.的营收复合增速更高（32.5% vs -8.1%）
泛大陆物流解决方案有限公司是一家全球干散货物流航运服务商，运营现代化干散货船队，运输谷物、矿产、建材、能源原材料等大宗商品，为北美、欧洲、亚洲的工业、农业、能源领域客户提供定制化干散货供应链全链路解决方案。
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。
PANL vs RBBN — 直观对比
营收规模更大
PANL
是对方的1.1倍
$162.6M
营收增速更快
PANL
高出35.2%
-10.3%
净利率更高
RBBN
高出48.3%
6.5%
两年增速更快
PANL
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $183.9M | $162.6M |
| 净利润 | $11.9M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | 9.5% | 37.6% |
| 净利率 | 6.5% | 54.8% |
| 营收同比 | 24.9% | -10.3% |
| 净利润同比 | 40.9% | — |
| 每股收益（稀释后） | $0.18 | $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PANLRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $183.9M | $227.3M | ||
| Q3 25 | $168.7M | $215.4M | ||
| Q2 25 | $156.7M | $220.6M | ||
| Q1 25 | $122.8M | $181.3M | ||
| Q4 24 | $147.2M | $251.4M | ||
| Q3 24 | $153.1M | $210.2M | ||
| Q2 24 | $131.5M | $192.6M |
净利润PANLRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $11.9M | — | ||
| Q3 25 | $12.2M | $-12.1M | ||
| Q2 25 | $-2.7M | $-11.1M | ||
| Q1 25 | $-2.0M | $-26.2M | ||
| Q4 24 | $8.4M | — | ||
| Q3 24 | $5.1M | $-13.4M | ||
| Q2 24 | $3.7M | $-16.8M |
毛利率PANLRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
营业利润率PANLRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | 9.5% | 4.1% | ||
| Q3 25 | 10.0% | 1.3% | ||
| Q2 25 | 2.3% | 1.9% | ||
| Q1 25 | 2.4% | -10.8% | ||
| Q4 24 | 10.1% | 13.2% | ||
| Q3 24 | 9.8% | -0.4% | ||
| Q2 24 | 5.8% | -1.0% |
净利率PANLRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | 6.5% | — | ||
| Q3 25 | 7.2% | -5.6% | ||
| Q2 25 | -1.8% | -5.0% | ||
| Q1 25 | -1.6% | -14.5% | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 3.3% | -6.4% | ||
| Q2 24 | 2.8% | -8.7% |
每股收益（稀释后）PANLRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $0.18 | $0.50 | ||
| Q3 25 | $0.19 | $-0.07 | ||
| Q2 25 | $-0.04 | $-0.06 | ||
| Q1 25 | $-0.03 | $-0.15 | ||
| Q4 24 | $0.19 | $0.05 | ||
| Q3 24 | $0.11 | $-0.08 | ||
| Q2 24 | $0.08 | $-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 | $103.1M | $67.6M |
| 总债务越低越好 | $249.6M | — |
| 股东权益账面价值 | $429.3M | $419.1M |
| 总资产 | $928.1M | — |
| 负债/权益比越低杠杆越低 | 0.58× | — |
8季度趋势，按日历期对齐
现金及短期投资PANLRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $103.1M | $96.4M | ||
| Q3 25 | $94.0M | $74.8M | ||
| Q2 25 | $59.3M | $60.5M | ||
| Q1 25 | $63.9M | $71.2M | ||
| Q4 24 | $86.8M | $87.8M | ||
| Q3 24 | $93.1M | $37.2M | ||
| Q2 24 | $77.9M | $64.6M |
总债务PANLRBBN
| Q1 26 | — | — | ||
| Q4 25 | $249.6M | $342.1M | ||
| Q3 25 | $256.2M | $344.3M | ||
| Q2 25 | $244.7M | $346.5M | ||
| Q1 25 | $251.0M | $347.4M | ||
| Q4 24 | $257.2M | $348.3M | ||
| Q3 24 | $133.6M | $349.1M | ||
| Q2 24 | $90.5M | $350.0M |
股东权益PANLRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $429.3M | $449.0M | ||
| Q3 25 | $420.3M | $360.1M | ||
| Q2 25 | $414.4M | $370.4M | ||
| Q1 25 | $420.8M | $381.8M | ||
| Q4 24 | $427.8M | $404.6M | ||
| Q3 24 | $332.6M | $395.5M | ||
| Q2 24 | $331.5M | $405.0M |
总资产PANLRBBN
| Q1 26 | — | — | ||
| Q4 25 | $928.1M | $1.2B | ||
| Q3 25 | $932.1M | $1.1B | ||
| Q2 25 | $916.0M | $1.1B | ||
| Q1 25 | $918.0M | $1.1B | ||
| Q4 24 | $936.5M | $1.2B | ||
| Q3 24 | $749.2M | $1.1B | ||
| Q2 24 | $692.9M | $1.1B |
负债/权益比PANLRBBN
| Q1 26 | — | — | ||
| Q4 25 | 0.58× | 0.76× | ||
| Q3 25 | 0.61× | 0.96× | ||
| Q2 25 | 0.59× | 0.94× | ||
| Q1 25 | 0.60× | 0.91× | ||
| Q4 24 | 0.60× | 0.86× | ||
| Q3 24 | 0.40× | 0.88× | ||
| Q2 24 | 0.27× | 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 | $15.1M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.27× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PANLRBBN
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | $29.2M | ||
| Q3 25 | $28.6M | $26.5M | ||
| Q2 25 | $14.4M | $-795.0K | ||
| Q1 25 | $-4.4M | $-3.5M | ||
| Q4 24 | $19.3M | $61.8M | ||
| Q3 24 | $28.5M | $-14.8M | ||
| Q2 24 | $9.0M | $-9.8M |
自由现金流PANLRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | $27.3M | ||
| Q3 25 | — | $21.0M | ||
| Q2 25 | — | $-6.5M | ||
| Q1 25 | — | $-15.7M | ||
| Q4 24 | — | $53.8M | ||
| Q3 24 | — | $-23.7M | ||
| Q2 24 | — | $-12.9M |
自由现金流率PANLRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | -2.9% | ||
| Q1 25 | — | -8.7% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | -11.3% | ||
| Q2 24 | — | -6.7% |
资本支出强度PANLRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 6.7% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 4.2% | ||
| Q2 24 | — | 1.6% |
现金转化率PANLRBBN
| Q1 26 | — | — | ||
| Q4 25 | 1.27× | — | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.29× | — | ||
| Q3 24 | 5.57× | — | ||
| Q2 24 | 2.43× | — |
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
PANL
| Voyage | $166.3M | 90% |
| Charter | $13.1M | 7% |
| Terminal Stevedore Revenue | $4.4M | 2% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
