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Ubiquiti Inc.（UI）与UNITED THERAPEUTICS Corp（UTHR）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UNITED THERAPEUTICS Corp的1.0倍（$814.9M vs $790.2M），UNITED THERAPEUTICS Corp净利率更高（46.1% vs 28.7%，领先17.4%），Ubiquiti Inc.同比增速更快（35.8% vs 7.4%），Ubiquiti Inc.自由现金流更多（$260.3M vs $173.3M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 8.0%）
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。
United Therapeutics是美国生物技术企业，专注开发包含异种移植在内的器官移植相关药物与技术，多款产品布局肺部疾病及器官制造赛道，双总部位于马里兰州银泉与北卡罗来纳州三角研究园，在美加多地设有研发及运营分支机构。
UI vs UTHR — 直观对比
营收规模更大
UI
是对方的1.0倍
$790.2M
营收增速更快
UI
高出28.5%
7.4%
净利率更高
UTHR
高出17.4%
28.7%
自由现金流更多
UI
多$87.0M
$173.3M
两年增速更快
UI
近两年复合增速
8.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $814.9M | $790.2M |
| 净利润 | $233.6M | $364.3M |
| 毛利率 | 45.9% | 86.9% |
| 营业利润率 | 35.9% | 45.1% |
| 净利率 | 28.7% | 46.1% |
| 营收同比 | 35.8% | 7.4% |
| 净利润同比 | 70.8% | 20.9% |
| 每股收益（稀释后） | $3.86 | $7.66 |
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UIUTHR
| Q4 25 | $814.9M | $790.2M | ||
| Q3 25 | $733.8M | $799.5M | ||
| Q2 25 | $759.2M | $798.6M | ||
| Q1 25 | $664.2M | $794.4M | ||
| Q4 24 | $599.9M | $735.9M | ||
| Q3 24 | $550.3M | $748.9M | ||
| Q2 24 | $507.5M | $714.9M | ||
| Q1 24 | $493.0M | $677.7M |
净利润UIUTHR
| Q4 25 | $233.6M | $364.3M | ||
| Q3 25 | $207.9M | $338.7M | ||
| Q2 25 | $266.7M | $309.5M | ||
| Q1 25 | $180.4M | $322.2M | ||
| Q4 24 | $136.8M | $301.3M | ||
| Q3 24 | $128.0M | $309.1M | ||
| Q2 24 | $103.8M | $278.1M | ||
| Q1 24 | $76.3M | $306.6M |
毛利率UIUTHR
| Q4 25 | 45.9% | 86.9% | ||
| Q3 25 | 46.0% | 87.4% | ||
| Q2 25 | 45.1% | 89.0% | ||
| Q1 25 | 44.5% | 88.4% | ||
| Q4 24 | 41.2% | 89.7% | ||
| Q3 24 | 42.1% | 88.9% | ||
| Q2 24 | 40.2% | 89.1% | ||
| Q1 24 | 35.3% | 89.2% |
营业利润率UIUTHR
| Q4 25 | 35.9% | 45.1% | ||
| Q3 25 | 35.7% | 48.6% | ||
| Q2 25 | 34.4% | 45.6% | ||
| Q1 25 | 34.2% | 48.2% | ||
| Q4 24 | 29.8% | 48.6% | ||
| Q3 24 | 30.7% | 45.8% | ||
| Q2 24 | 27.3% | 44.7% | ||
| Q1 24 | 22.6% | 52.6% |
净利率UIUTHR
| Q4 25 | 28.7% | 46.1% | ||
| Q3 25 | 28.3% | 42.4% | ||
| Q2 25 | 35.1% | 38.8% | ||
| Q1 25 | 27.2% | 40.6% | ||
| Q4 24 | 22.8% | 40.9% | ||
| Q3 24 | 23.3% | 41.3% | ||
| Q2 24 | 20.5% | 38.9% | ||
| Q1 24 | 15.5% | 45.2% |
每股收益（稀释后）UIUTHR
| Q4 25 | $3.86 | $7.66 | ||
| Q3 25 | $3.43 | $7.16 | ||
| Q2 25 | $4.40 | $6.41 | ||
| Q1 25 | $2.98 | $6.63 | ||
| Q4 24 | $2.26 | $6.23 | ||
| Q3 24 | $2.12 | $6.39 | ||
| Q2 24 | $1.72 | $5.85 | ||
| Q1 24 | $1.26 | $6.17 |
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 | $302.8M | $2.9B |
| 总债务越低越好 | $47.5M | — |
| 股东权益账面价值 | $1.0B | $7.1B |
| 总资产 | $1.6B | $7.9B |
| 负债/权益比越低杠杆越低 | 0.05× | — |
8季度趋势，按日历期对齐
现金及短期投资UIUTHR
| Q4 25 | $302.8M | $2.9B | ||
| Q3 25 | $177.2M | $2.8B | ||
| Q2 25 | $149.7M | $3.0B | ||
| Q1 25 | $151.0M | $3.3B | ||
| Q4 24 | $133.1M | $3.3B | ||
| Q3 24 | $165.2M | $3.3B | ||
| Q2 24 | $126.3M | $3.0B | ||
| Q1 24 | $102.5M | $2.7B |
总债务UIUTHR
| Q4 25 | $47.5M | — | ||
| Q3 25 | $133.8M | — | ||
| Q2 25 | $250.0M | — | ||
| Q1 25 | $340.0M | — | ||
| Q4 24 | $406.3M | — | ||
| Q3 24 | $552.5M | — | ||
| Q2 24 | $708.1M | — | ||
| Q1 24 | $877.5M | — |
股东权益UIUTHR
| Q4 25 | $1.0B | $7.1B | ||
| Q3 25 | $828.4M | $6.6B | ||
| Q2 25 | $668.3M | $7.2B | ||
| Q1 25 | $436.1M | $6.8B | ||
| Q4 24 | $290.4M | $6.4B | ||
| Q3 24 | $188.1M | $6.1B | ||
| Q2 24 | $95.1M | $5.7B | ||
| Q1 24 | $25.9M | $5.3B |
总资产UIUTHR
| Q4 25 | $1.6B | $7.9B | ||
| Q3 25 | $1.5B | $7.4B | ||
| Q2 25 | $1.5B | $7.9B | ||
| Q1 25 | $1.3B | $7.7B | ||
| Q4 24 | $1.2B | $7.4B | ||
| Q3 24 | $1.2B | $7.1B | ||
| Q2 24 | $1.2B | $6.7B | ||
| Q1 24 | $1.2B | $6.5B |
负债/权益比UIUTHR
| Q4 25 | 0.05× | — | ||
| Q3 25 | 0.16× | — | ||
| Q2 25 | 0.37× | — | ||
| Q1 25 | 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 | $263.9M | $346.2M |
| 自由现金流经营现金流 - 资本支出 | $260.3M | $173.3M |
| 自由现金流率自由现金流/营收 | 31.9% | 21.9% |
| 资本支出强度资本支出/营收 | 0.4% | 21.9% |
| 现金转化率经营现金流/净利润 | 1.13× | 0.95× |
| 过去12个月自由现金流最近4个季度 | $699.5M | $1.0B |
8季度趋势，按日历期对齐
经营现金流UIUTHR
| Q4 25 | $263.9M | $346.2M | ||
| Q3 25 | $198.5M | $562.1M | ||
| Q2 25 | $130.4M | $191.7M | ||
| Q1 25 | $123.6M | $461.2M | ||
| Q4 24 | $152.4M | $341.2M | ||
| Q3 24 | $233.7M | $377.2M | ||
| Q2 24 | $231.4M | $232.2M | ||
| Q1 24 | $163.9M | $376.5M |
自由现金流UIUTHR
| Q4 25 | $260.3M | $173.3M | ||
| Q3 25 | $193.3M | $351.6M | ||
| Q2 25 | $125.2M | $129.5M | ||
| Q1 25 | $120.7M | $386.3M | ||
| Q4 24 | $150.4M | $254.5M | ||
| Q3 24 | $231.1M | $300.7M | ||
| Q2 24 | $229.5M | $187.1M | ||
| Q1 24 | $160.6M | $338.3M |
自由现金流率UIUTHR
| Q4 25 | 31.9% | 21.9% | ||
| Q3 25 | 26.3% | 44.0% | ||
| Q2 25 | 16.5% | 16.2% | ||
| Q1 25 | 18.2% | 48.6% | ||
| Q4 24 | 25.1% | 34.6% | ||
| Q3 24 | 42.0% | 40.2% | ||
| Q2 24 | 45.2% | 26.2% | ||
| Q1 24 | 32.6% | 49.9% |
资本支出强度UIUTHR
| Q4 25 | 0.4% | 21.9% | ||
| Q3 25 | 0.7% | 26.3% | ||
| Q2 25 | 0.7% | 7.8% | ||
| Q1 25 | 0.4% | 9.4% | ||
| Q4 24 | 0.3% | 11.8% | ||
| Q3 24 | 0.5% | 10.2% | ||
| Q2 24 | 0.4% | 6.3% | ||
| Q1 24 | 0.7% | 5.6% |
现金转化率UIUTHR
| Q4 25 | 1.13× | 0.95× | ||
| Q3 25 | 0.95× | 1.66× | ||
| Q2 25 | 0.49× | 0.62× | ||
| Q1 25 | 0.68× | 1.43× | ||
| Q4 24 | 1.11× | 1.13× | ||
| Q3 24 | 1.83× | 1.22× | ||
| Q2 24 | 2.23× | 0.83× | ||
| Q1 24 | 2.15× | 1.23× |
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
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
UTHR
| Tyvaso DPI | $338.6M | 43% |
| Remodulin | $128.0M | 16% |
| Nebulized Tyvaso | $125.7M | 16% |
| Orenitram | $121.2M | 15% |
| Unituxin | $62.3M | 8% |
| Adcirca | $7.8M | 1% |
| Other | $6.6M | 1% |
