vs
希悦尔（SEE）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
希悦尔的季度营收约是Ubiquiti Inc.的1.7倍（$1.4B vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 3.1%，领先25.5%），Ubiquiti Inc.同比增速更快（35.8% vs 2.6%），Ubiquiti Inc.自由现金流更多（$260.3M vs $257.7M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 2.7%）
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
SEE vs UI — 直观对比
营收规模更大
SEE
是对方的1.7倍
$814.9M
营收增速更快
UI
高出33.2%
2.6%
净利率更高
UI
高出25.5%
3.1%
自由现金流更多
UI
多$2.6M
$257.7M
两年增速更快
UI
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $814.9M |
| 净利润 | $43.8M | $233.6M |
| 毛利率 | 28.6% | 45.9% |
| 营业利润率 | 11.4% | 35.9% |
| 净利率 | 3.1% | 28.7% |
| 营收同比 | 2.6% | 35.8% |
| 净利润同比 | 700.0% | 70.8% |
| 每股收益（稀释后） | $0.30 | $3.86 |
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SEEUI
| Q4 25 | $1.4B | $814.9M | ||
| Q3 25 | $1.3B | $733.8M | ||
| Q2 25 | $1.3B | $759.2M | ||
| Q1 25 | $1.3B | $664.2M | ||
| Q4 24 | $1.4B | $599.9M | ||
| Q3 24 | $1.3B | $550.3M | ||
| Q2 24 | $1.3B | $507.5M | ||
| Q1 24 | $1.3B | $493.0M |
净利润SEEUI
| Q4 25 | $43.8M | $233.6M | ||
| Q3 25 | $255.1M | $207.9M | ||
| Q2 25 | $93.1M | $266.7M | ||
| Q1 25 | $113.5M | $180.4M | ||
| Q4 24 | $-7.3M | $136.8M | ||
| Q3 24 | $91.7M | $128.0M | ||
| Q2 24 | $98.3M | $103.8M | ||
| Q1 24 | $82.0M | $76.3M |
毛利率SEEUI
| Q4 25 | 28.6% | 45.9% | ||
| Q3 25 | 29.8% | 46.0% | ||
| Q2 25 | 30.7% | 45.1% | ||
| Q1 25 | 30.9% | 44.5% | ||
| Q4 24 | 30.0% | 41.2% | ||
| Q3 24 | 30.1% | 42.1% | ||
| Q2 24 | 31.2% | 40.2% | ||
| Q1 24 | 30.3% | 35.3% |
营业利润率SEEUI
| Q4 25 | 11.4% | 35.9% | ||
| Q3 25 | 13.8% | 35.7% | ||
| Q2 25 | 15.0% | 34.4% | ||
| Q1 25 | 14.5% | 34.2% | ||
| Q4 24 | 11.7% | 29.8% | ||
| Q3 24 | 13.9% | 30.7% | ||
| Q2 24 | 15.4% | 27.3% | ||
| Q1 24 | 14.0% | 22.6% |
净利率SEEUI
| Q4 25 | 3.1% | 28.7% | ||
| Q3 25 | 19.0% | 28.3% | ||
| Q2 25 | 7.0% | 35.1% | ||
| Q1 25 | 9.0% | 27.2% | ||
| Q4 24 | -0.5% | 22.8% | ||
| Q3 24 | 6.9% | 23.3% | ||
| Q2 24 | 7.4% | 20.5% | ||
| Q1 24 | 6.2% | 15.5% |
每股收益（稀释后）SEEUI
| Q4 25 | $0.30 | $3.86 | ||
| Q3 25 | $1.73 | $3.43 | ||
| Q2 25 | $0.63 | $4.40 | ||
| Q1 25 | $0.77 | $2.98 | ||
| Q4 24 | $-0.05 | $2.26 | ||
| Q3 24 | $0.63 | $2.12 | ||
| Q2 24 | $0.67 | $1.72 | ||
| Q1 24 | $0.56 | $1.26 |
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 | $344.0M | $302.8M |
| 总债务越低越好 | $3.3B | $47.5M |
| 股东权益账面价值 | $1.2B | $1.0B |
| 总资产 | $7.0B | $1.6B |
| 负债/权益比越低杠杆越低 | 2.65× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资SEEUI
| Q4 25 | $344.0M | $302.8M | ||
| Q3 25 | $282.5M | $177.2M | ||
| Q2 25 | $354.4M | $149.7M | ||
| Q1 25 | $335.2M | $151.0M | ||
| Q4 24 | $371.8M | $133.1M | ||
| Q3 24 | $386.0M | $165.2M | ||
| Q2 24 | $388.6M | $126.3M | ||
| Q1 24 | $352.8M | $102.5M |
总债务SEEUI
| Q4 25 | $3.3B | $47.5M | ||
| Q3 25 | $4.0B | $133.8M | ||
| Q2 25 | $4.0B | $250.0M | ||
| Q1 25 | $4.2B | $340.0M | ||
| Q4 24 | $4.2B | $406.3M | ||
| Q3 24 | $4.3B | $552.5M | ||
| Q2 24 | $4.4B | $708.1M | ||
| Q1 24 | $4.5B | $877.5M |
股东权益SEEUI
| Q4 25 | $1.2B | $1.0B | ||
| Q3 25 | $1.2B | $828.4M | ||
| Q2 25 | $953.1M | $668.3M | ||
| Q1 25 | $797.9M | $436.1M | ||
| Q4 24 | $624.5M | $290.4M | ||
| Q3 24 | $771.2M | $188.1M | ||
| Q2 24 | $650.1M | $95.1M | ||
| Q1 24 | $598.3M | $25.9M |
总资产SEEUI
| Q4 25 | $7.0B | $1.6B | ||
| Q3 25 | $7.1B | $1.5B | ||
| Q2 25 | $7.2B | $1.5B | ||
| Q1 25 | $7.0B | $1.3B | ||
| Q4 24 | $7.0B | $1.2B | ||
| Q3 24 | $7.3B | $1.2B | ||
| Q2 24 | $7.3B | $1.2B | ||
| Q1 24 | $7.2B | $1.2B |
负债/权益比SEEUI
| Q4 25 | 2.65× | 0.05× | ||
| Q3 25 | 3.34× | 0.16× | ||
| Q2 25 | 4.18× | 0.37× | ||
| Q1 25 | 5.26× | 0.78× | ||
| Q4 24 | 6.72× | 1.40× | ||
| Q3 24 | 5.62× | 2.94× | ||
| Q2 24 | 6.81× | 7.45× | ||
| Q1 24 | 7.49× | 33.92× |
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 | $293.6M | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $257.7M | $260.3M |
| 自由现金流率自由现金流/营收 | 18.5% | 31.9% |
| 资本支出强度资本支出/营收 | 2.6% | 0.4% |
| 现金转化率经营现金流/净利润 | 6.70× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $458.5M | $699.5M |
8季度趋势，按日历期对齐
经营现金流SEEUI
| Q4 25 | $293.6M | $263.9M | ||
| Q3 25 | $165.9M | $198.5M | ||
| Q2 25 | $136.6M | $130.4M | ||
| Q1 25 | $31.9M | $123.6M | ||
| Q4 24 | $244.2M | $152.4M | ||
| Q3 24 | $170.5M | $233.7M | ||
| Q2 24 | $188.2M | $231.4M | ||
| Q1 24 | $125.1M | $163.9M |
自由现金流SEEUI
| Q4 25 | $257.7M | $260.3M | ||
| Q3 25 | $119.6M | $193.3M | ||
| Q2 25 | $93.2M | $125.2M | ||
| Q1 25 | $-12.0M | $120.7M | ||
| Q4 24 | $185.1M | $150.4M | ||
| Q3 24 | $115.2M | $231.1M | ||
| Q2 24 | $129.5M | $229.5M | ||
| Q1 24 | $78.0M | $160.6M |
自由现金流率SEEUI
| Q4 25 | 18.5% | 31.9% | ||
| Q3 25 | 8.9% | 26.3% | ||
| Q2 25 | 7.0% | 16.5% | ||
| Q1 25 | -0.9% | 18.2% | ||
| Q4 24 | 13.6% | 25.1% | ||
| Q3 24 | 8.6% | 42.0% | ||
| Q2 24 | 9.7% | 45.2% | ||
| Q1 24 | 5.9% | 32.6% |
资本支出强度SEEUI
| Q4 25 | 2.6% | 0.4% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | 3.3% | 0.7% | ||
| Q1 25 | 3.5% | 0.4% | ||
| Q4 24 | 4.4% | 0.3% | ||
| Q3 24 | 4.1% | 0.5% | ||
| Q2 24 | 4.4% | 0.4% | ||
| Q1 24 | 3.6% | 0.7% |
现金转化率SEEUI
| Q4 25 | 6.70× | 1.13× | ||
| Q3 25 | 0.65× | 0.95× | ||
| Q2 25 | 1.47× | 0.49× | ||
| Q1 25 | 0.28× | 0.68× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | 1.86× | 1.83× | ||
| Q2 24 | 1.91× | 2.23× | ||
| Q1 24 | 1.53× | 2.15× |
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
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
