vs
天宝（TRMB）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
天宝的季度营收约是Ubiquiti Inc.的1.2倍（$969.8M vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 16.1%，领先12.5%），Ubiquiti Inc.同比增速更快（35.8% vs -73.7%），天宝自由现金流更多（$360.9M vs $260.3M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 0.9%）
天宝（Trimble Inc.）是1978年成立的美国科技企业，总部位于科罗拉多州威斯敏斯特，于纳斯达克上市，为标普500成分股。公司面向建筑工程、地理空间测绘、交通物流等多个行业，提供软硬件产品及相关技术服务。
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。
TRMB vs UI — 直观对比
营收规模更大
TRMB
是对方的1.2倍
$814.9M
营收增速更快
UI
高出109.5%
-73.7%
净利率更高
UI
高出12.5%
16.1%
自由现金流更多
TRMB
多$100.6M
$260.3M
两年增速更快
UI
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $969.8M | $814.9M |
| 净利润 | $156.6M | $233.6M |
| 毛利率 | 72.0% | 45.9% |
| 营业利润率 | 22.3% | 35.9% |
| 净利率 | 16.1% | 28.7% |
| 营收同比 | -73.7% | 35.8% |
| 净利润同比 | 73.6% | 70.8% |
| 每股收益（稀释后） | $0.65 | $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TRMBUI
| Q4 25 | $901.2M | $814.9M | ||
| Q3 25 | $875.7M | $733.8M | ||
| Q2 25 | $840.6M | $759.2M | ||
| Q1 25 | $983.4M | $664.2M | ||
| Q4 24 | — | $599.9M | ||
| Q3 24 | $875.8M | $550.3M | ||
| Q2 24 | $870.8M | $507.5M | ||
| Q1 24 | $953.3M | $493.0M |
净利润TRMBUI
| Q4 25 | $111.5M | $233.6M | ||
| Q3 25 | $89.2M | $207.9M | ||
| Q2 25 | $66.7M | $266.7M | ||
| Q1 25 | $90.2M | $180.4M | ||
| Q4 24 | — | $136.8M | ||
| Q3 24 | $40.6M | $128.0M | ||
| Q2 24 | $1.3B | $103.8M | ||
| Q1 24 | $57.2M | $76.3M |
毛利率TRMBUI
| Q4 25 | 68.9% | 45.9% | ||
| Q3 25 | 68.3% | 46.0% | ||
| Q2 25 | 66.7% | 45.1% | ||
| Q1 25 | 69.3% | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | 65.7% | 42.1% | ||
| Q2 24 | 62.7% | 40.2% | ||
| Q1 24 | 62.3% | 35.3% |
营业利润率TRMBUI
| Q4 25 | 16.7% | 35.9% | ||
| Q3 25 | 14.6% | 35.7% | ||
| Q2 25 | 11.6% | 34.4% | ||
| Q1 25 | 17.6% | 34.2% | ||
| Q4 24 | — | 29.8% | ||
| Q3 24 | 13.3% | 30.7% | ||
| Q2 24 | 7.1% | 27.3% | ||
| Q1 24 | 11.5% | 22.6% |
净利率TRMBUI
| Q4 25 | 12.4% | 28.7% | ||
| Q3 25 | 10.2% | 28.3% | ||
| Q2 25 | 7.9% | 35.1% | ||
| Q1 25 | 9.2% | 27.2% | ||
| Q4 24 | — | 22.8% | ||
| Q3 24 | 4.6% | 23.3% | ||
| Q2 24 | 151.2% | 20.5% | ||
| Q1 24 | 6.0% | 15.5% |
每股收益（稀释后）TRMBUI
| Q4 25 | $0.46 | $3.86 | ||
| Q3 25 | $0.37 | $3.43 | ||
| Q2 25 | $0.27 | $4.40 | ||
| Q1 25 | $0.36 | $2.98 | ||
| Q4 24 | — | $2.26 | ||
| Q3 24 | $0.16 | $2.12 | ||
| Q2 24 | $5.34 | $1.72 | ||
| Q1 24 | $0.23 | $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 | $253.4M | $302.8M |
| 总债务越低越好 | $1.4B | $47.5M |
| 股东权益账面价值 | $5.8B | $1.0B |
| 总资产 | $9.3B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.24× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资TRMBUI
| Q4 25 | $232.7M | $302.8M | ||
| Q3 25 | $265.9M | $177.2M | ||
| Q2 25 | $290.0M | $149.7M | ||
| Q1 25 | $738.8M | $151.0M | ||
| Q4 24 | — | $133.1M | ||
| Q3 24 | $1.0B | $165.2M | ||
| Q2 24 | $944.1M | $126.3M | ||
| Q1 24 | $255.1M | $102.5M |
总债务TRMBUI
| Q4 25 | $1.4B | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | $1.4B | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益TRMBUI
| Q4 25 | $5.8B | $1.0B | ||
| Q3 25 | $5.7B | $828.4M | ||
| Q2 25 | $5.4B | $668.3M | ||
| Q1 25 | $5.7B | $436.1M | ||
| Q4 24 | — | $290.4M | ||
| Q3 24 | $5.9B | $188.1M | ||
| Q2 24 | $5.6B | $95.1M | ||
| Q1 24 | $4.3B | $25.9M |
总资产TRMBUI
| Q4 25 | $9.0B | $1.6B | ||
| Q3 25 | $9.1B | $1.5B | ||
| Q2 25 | $8.9B | $1.5B | ||
| Q1 25 | $9.5B | $1.3B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $9.9B | $1.2B | ||
| Q2 24 | $9.6B | $1.2B | ||
| Q1 24 | $9.3B | $1.2B |
负债/权益比TRMBUI
| Q4 25 | 0.24× | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | 0.24× | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 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 | $386.2M | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $360.9M | $260.3M |
| 自由现金流率自由现金流/营收 | 37.2% | 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 | 2.47× | 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TRMBUI
| Q4 25 | — | $263.9M | ||
| Q3 25 | $123.8M | $198.5M | ||
| Q2 25 | $155.6M | $130.4M | ||
| Q1 25 | $115.1M | $123.6M | ||
| Q4 24 | — | $152.4M | ||
| Q3 24 | $94.9M | $233.7M | ||
| Q2 24 | $87.6M | $231.4M | ||
| Q1 24 | $233.8M | $163.9M |
自由现金流TRMBUI
| Q4 25 | — | $260.3M | ||
| Q3 25 | $116.6M | $193.3M | ||
| Q2 25 | $149.0M | $125.2M | ||
| Q1 25 | $109.0M | $120.7M | ||
| Q4 24 | — | $150.4M | ||
| Q3 24 | $88.5M | $231.1M | ||
| Q2 24 | $73.3M | $229.5M | ||
| Q1 24 | $227.0M | $160.6M |
自由现金流率TRMBUI
| Q4 25 | — | 31.9% | ||
| Q3 25 | 13.3% | 26.3% | ||
| Q2 25 | 17.7% | 16.5% | ||
| Q1 25 | 11.1% | 18.2% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | 10.1% | 42.0% | ||
| Q2 24 | 8.4% | 45.2% | ||
| Q1 24 | 23.8% | 32.6% |
资本支出强度TRMBUI
| Q4 25 | — | 0.4% | ||
| Q3 25 | 0.8% | 0.7% | ||
| Q2 25 | 0.8% | 0.7% | ||
| Q1 25 | 0.6% | 0.4% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | 0.7% | 0.5% | ||
| Q2 24 | 1.6% | 0.4% | ||
| Q1 24 | 0.7% | 0.7% |
现金转化率TRMBUI
| Q4 25 | — | 1.13× | ||
| Q3 25 | 1.39× | 0.95× | ||
| Q2 25 | 2.33× | 0.49× | ||
| Q1 25 | 1.28× | 0.68× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | 2.34× | 1.83× | ||
| Q2 24 | 0.07× | 2.23× | ||
| Q1 24 | 4.09× | 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
TRMB
| Subscription and services | $701.5M | 72% |
| Product | $268.3M | 28% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
