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SLM Corp（SLM）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是SLM Corp的1.5倍（$814.9M vs $560.0M），SLM Corp净利率更高（55.0% vs 28.7%，领先26.3%），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 22.7%）
尼康旗下SLM Solutions AG总部位于德国吕贝克，是金属3D打印机领域的上市生产商，共同拥有SLM文字商标，集团股份自2014年5月9日起在法兰克福证券交易所高级市场板块挂牌交易。
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。
SLM vs UI — 直观对比
营收规模更大
UI
是对方的1.5倍
$560.0M
净利率更高
SLM
高出26.3%
28.7%
两年增速更快
UI
近两年复合增速
22.7%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $560.0M | $814.9M |
| 净利润 | $308.0M | $233.6M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 69.6% | 35.9% |
| 净利率 | 55.0% | 28.7% |
| 营收同比 | — | 35.8% |
| 净利润同比 | 1.0% | 70.8% |
| 每股收益（稀释后） | $1.54 | $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SLMUI
| Q1 26 | $560.0M | — | ||
| Q4 25 | $377.1M | $814.9M | ||
| Q3 25 | $373.0M | $733.8M | ||
| Q2 25 | $376.8M | $759.2M | ||
| Q1 25 | $375.0M | $664.2M | ||
| Q4 24 | $362.2M | $599.9M | ||
| Q3 24 | $359.4M | $550.3M | ||
| Q2 24 | $372.2M | $507.5M |
净利润SLMUI
| Q1 26 | $308.0M | — | ||
| Q4 25 | $233.2M | $233.6M | ||
| Q3 25 | $135.8M | $207.9M | ||
| Q2 25 | $71.3M | $266.7M | ||
| Q1 25 | $304.5M | $180.4M | ||
| Q4 24 | $111.6M | $136.8M | ||
| Q3 24 | $-45.2M | $128.0M | ||
| Q2 24 | $252.0M | $103.8M |
毛利率SLMUI
| Q1 26 | — | — | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 40.2% |
营业利润率SLMUI
| Q1 26 | 69.6% | — | ||
| Q4 25 | 83.8% | 35.9% | ||
| Q3 25 | 49.8% | 35.7% | ||
| Q2 25 | 23.3% | 34.4% | ||
| Q1 25 | — | 34.2% | ||
| Q4 24 | 36.5% | 29.8% | ||
| Q3 24 | -16.6% | 30.7% | ||
| Q2 24 | 91.0% | 27.3% |
净利率SLMUI
| Q1 26 | 55.0% | — | ||
| Q4 25 | 61.8% | 28.7% | ||
| Q3 25 | 36.4% | 28.3% | ||
| Q2 25 | 18.9% | 35.1% | ||
| Q1 25 | 81.2% | 27.2% | ||
| Q4 24 | 30.8% | 22.8% | ||
| Q3 24 | -12.6% | 23.3% | ||
| Q2 24 | 67.7% | 20.5% |
每股收益（稀释后）SLMUI
| Q1 26 | $1.54 | — | ||
| Q4 25 | $1.11 | $3.86 | ||
| Q3 25 | $0.63 | $3.43 | ||
| Q2 25 | $0.32 | $4.40 | ||
| Q1 25 | $1.40 | $2.98 | ||
| Q4 24 | $0.53 | $2.26 | ||
| Q3 24 | $-0.23 | $2.12 | ||
| Q2 24 | $1.11 | $1.72 |
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 | $5.2B | $302.8M |
| 总债务越低越好 | $6.2B | $47.5M |
| 股东权益账面价值 | $2.4B | $1.0B |
| 总资产 | $29.4B | $1.6B |
| 负债/权益比越低杠杆越低 | 2.53× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资SLMUI
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.2B | $302.8M | ||
| Q3 25 | $3.5B | $177.2M | ||
| Q2 25 | $4.1B | $149.7M | ||
| Q1 25 | $3.7B | $151.0M | ||
| Q4 24 | $4.7B | $133.1M | ||
| Q3 24 | $4.5B | $165.2M | ||
| Q2 24 | $5.3B | $126.3M |
总债务SLMUI
| Q1 26 | $6.2B | — | ||
| Q4 25 | $5.4B | $47.5M | ||
| Q3 25 | $6.8B | $133.8M | ||
| Q2 25 | $6.4B | $250.0M | ||
| Q1 25 | $6.1B | $340.0M | ||
| Q4 24 | $6.4B | $406.3M | ||
| Q3 24 | $6.0B | $552.5M | ||
| Q2 24 | $5.4B | $708.1M |
股东权益SLMUI
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.5B | $1.0B | ||
| Q3 25 | $2.3B | $828.4M | ||
| Q2 25 | $2.4B | $668.3M | ||
| Q1 25 | $2.4B | $436.1M | ||
| Q4 24 | $2.2B | $290.4M | ||
| Q3 24 | $2.1B | $188.1M | ||
| Q2 24 | $2.3B | $95.1M |
总资产SLMUI
| Q1 26 | $29.4B | — | ||
| Q4 25 | $29.7B | $1.6B | ||
| Q3 25 | $29.6B | $1.5B | ||
| Q2 25 | $29.6B | $1.5B | ||
| Q1 25 | $28.9B | $1.3B | ||
| Q4 24 | $30.1B | $1.2B | ||
| Q3 24 | $30.0B | $1.2B | ||
| Q2 24 | $28.8B | $1.2B |
负债/权益比SLMUI
| Q1 26 | 2.53× | — | ||
| Q4 25 | 2.19× | 0.05× | ||
| Q3 25 | 2.92× | 0.16× | ||
| Q2 25 | 2.70× | 0.37× | ||
| Q1 25 | 2.56× | 0.78× | ||
| Q4 24 | 2.98× | 1.40× | ||
| Q3 24 | 2.83× | 2.94× | ||
| Q2 24 | 2.37× | 7.45× |
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 | — | $263.9M |
| 自由现金流经营现金流 - 资本支出 | — | $260.3M |
| 自由现金流率自由现金流/营收 | — | 31.9% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $699.5M |
8季度趋势，按日历期对齐
经营现金流SLMUI
| Q1 26 | — | — | ||
| Q4 25 | $-64.5M | $263.9M | ||
| Q3 25 | $-49.3M | $198.5M | ||
| Q2 25 | $-138.7M | $130.4M | ||
| Q1 25 | $-146.1M | $123.6M | ||
| Q4 24 | $4.5M | $152.4M | ||
| Q3 24 | $-113.4M | $233.7M | ||
| Q2 24 | $-143.8M | $231.4M |
自由现金流SLMUI
| Q1 26 | — | — | ||
| Q4 25 | — | $260.3M | ||
| Q3 25 | — | $193.3M | ||
| Q2 25 | — | $125.2M | ||
| Q1 25 | — | $120.7M | ||
| Q4 24 | — | $150.4M | ||
| Q3 24 | — | $231.1M | ||
| Q2 24 | — | $229.5M |
自由现金流率SLMUI
| Q1 26 | — | — | ||
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 26.3% | ||
| Q2 25 | — | 16.5% | ||
| Q1 25 | — | 18.2% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | — | 42.0% | ||
| Q2 24 | — | 45.2% |
资本支出强度SLMUI
| Q1 26 | — | — | ||
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% |
现金转化率SLMUI
| Q1 26 | — | — | ||
| Q4 25 | -0.28× | 1.13× | ||
| Q3 25 | -0.36× | 0.95× | ||
| Q2 25 | -1.95× | 0.49× | ||
| Q1 25 | -0.48× | 0.68× | ||
| Q4 24 | 0.04× | 1.11× | ||
| Q3 24 | — | 1.83× | ||
| Q2 24 | -0.57× | 2.23× |
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
SLM
| Net Interest Income | $375.0M | 67% |
| Noninterest Income | $185.0M | 33% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
