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Ubiquiti Inc.（UI）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）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ADVANCED DRAINAGE SYSTEMS, INC.的1.2倍（$814.9M vs $693.4M），Ubiquiti Inc.净利率更高（28.7% vs 13.5%，领先15.2%），Ubiquiti Inc.同比增速更快（35.8% vs 0.4%），Ubiquiti Inc.自由现金流更多（$260.3M vs $183.6M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 3.0%）
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。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
UI vs WMS — 直观对比
营收规模更大
UI
是对方的1.2倍
$693.4M
营收增速更快
UI
高出35.4%
0.4%
净利率更高
UI
高出15.2%
13.5%
自由现金流更多
UI
多$76.7M
$183.6M
两年增速更快
UI
近两年复合增速
3.0%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $814.9M | $693.4M |
| 净利润 | $233.6M | $93.6M |
| 毛利率 | 45.9% | 37.4% |
| 营业利润率 | 35.9% | 19.7% |
| 净利率 | 28.7% | 13.5% |
| 营收同比 | 35.8% | 0.4% |
| 净利润同比 | 70.8% | 15.3% |
| 每股收益（稀释后） | $3.86 | $1.19 |
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UIWMS
| Q4 25 | $814.9M | $693.4M | ||
| Q3 25 | $733.8M | $850.4M | ||
| Q2 25 | $759.2M | $829.9M | ||
| Q1 25 | $664.2M | $615.8M | ||
| Q4 24 | $599.9M | $690.5M | ||
| Q3 24 | $550.3M | $782.6M | ||
| Q2 24 | $507.5M | $815.3M | ||
| Q1 24 | $493.0M | $653.8M |
净利润UIWMS
| Q4 25 | $233.6M | $93.6M | ||
| Q3 25 | $207.9M | $156.0M | ||
| Q2 25 | $266.7M | $143.9M | ||
| Q1 25 | $180.4M | $77.2M | ||
| Q4 24 | $136.8M | $81.2M | ||
| Q3 24 | $128.0M | $130.4M | ||
| Q2 24 | $103.8M | $161.4M | ||
| Q1 24 | $76.3M | $94.8M |
毛利率UIWMS
| Q4 25 | 45.9% | 37.4% | ||
| Q3 25 | 46.0% | 40.0% | ||
| Q2 25 | 45.1% | 39.8% | ||
| Q1 25 | 44.5% | 36.7% | ||
| Q4 24 | 41.2% | 35.0% | ||
| Q3 24 | 42.1% | 37.6% | ||
| Q2 24 | 40.2% | 40.8% | ||
| Q1 24 | 35.3% | 38.5% |
营业利润率UIWMS
| Q4 25 | 35.9% | 19.7% | ||
| Q3 25 | 35.7% | 26.3% | ||
| Q2 25 | 34.4% | 24.8% | ||
| Q1 25 | 34.2% | 19.0% | ||
| Q4 24 | 29.8% | 18.4% | ||
| Q3 24 | 30.7% | 23.9% | ||
| Q2 24 | 27.3% | 27.7% | ||
| Q1 24 | 22.6% | 20.7% |
净利率UIWMS
| Q4 25 | 28.7% | 13.5% | ||
| Q3 25 | 28.3% | 18.3% | ||
| Q2 25 | 35.1% | 17.3% | ||
| Q1 25 | 27.2% | 12.5% | ||
| Q4 24 | 22.8% | 11.8% | ||
| Q3 24 | 23.3% | 16.7% | ||
| Q2 24 | 20.5% | 19.8% | ||
| Q1 24 | 15.5% | 14.5% |
每股收益（稀释后）UIWMS
| Q4 25 | $3.86 | $1.19 | ||
| Q3 25 | $3.43 | $1.99 | ||
| Q2 25 | $4.40 | $1.84 | ||
| Q1 25 | $2.98 | $0.99 | ||
| Q4 24 | $2.26 | $1.04 | ||
| Q3 24 | $2.12 | $1.67 | ||
| Q2 24 | $1.72 | $2.06 | ||
| Q1 24 | $1.26 | $1.22 |
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 | $1.0B |
| 总债务越低越好 | $47.5M | — |
| 股东权益账面价值 | $1.0B | $1.9B |
| 总资产 | $1.6B | $4.1B |
| 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UIWMS
| Q4 25 | $302.8M | $1.0B | ||
| Q3 25 | $177.2M | $812.9M | ||
| Q2 25 | $149.7M | $638.3M | ||
| Q1 25 | $151.0M | $463.3M | ||
| Q4 24 | $133.1M | $488.9M | ||
| Q3 24 | $165.2M | $613.0M | ||
| Q2 24 | $126.3M | $541.6M | ||
| Q1 24 | $102.5M | $490.2M |
总债务UIWMS
| Q4 25 | $47.5M | — | ||
| Q3 25 | $133.8M | — | ||
| Q2 25 | $250.0M | — | ||
| Q1 25 | $340.0M | $1.3B | ||
| Q4 24 | $406.3M | — | ||
| Q3 24 | $552.5M | — | ||
| Q2 24 | $708.1M | — | ||
| Q1 24 | $877.5M | $1.3B |
股东权益UIWMS
| Q4 25 | $1.0B | $1.9B | ||
| Q3 25 | $828.4M | $1.8B | ||
| Q2 25 | $668.3M | $1.7B | ||
| Q1 25 | $436.1M | $1.5B | ||
| Q4 24 | $290.4M | $1.5B | ||
| Q3 24 | $188.1M | $1.4B | ||
| Q2 24 | $95.1M | $1.3B | ||
| Q1 24 | $25.9M | $1.2B |
总资产UIWMS
| Q4 25 | $1.6B | $4.1B | ||
| Q3 25 | $1.5B | $4.1B | ||
| Q2 25 | $1.5B | $3.9B | ||
| Q1 25 | $1.3B | $3.7B | ||
| Q4 24 | $1.2B | $3.6B | ||
| Q3 24 | $1.2B | $3.5B | ||
| Q2 24 | $1.2B | $3.4B | ||
| Q1 24 | $1.2B | $3.3B |
负债/权益比UIWMS
| Q4 25 | 0.05× | — | ||
| Q3 25 | 0.16× | — | ||
| Q2 25 | 0.37× | — | ||
| Q1 25 | 0.78× | 0.83× | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | 2.94× | — | ||
| Q2 24 | 7.45× | — | ||
| Q1 24 | 33.92× | 1.11× |
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 | $269.3M |
| 自由现金流经营现金流 - 资本支出 | $260.3M | $183.6M |
| 自由现金流率自由现金流/营收 | 31.9% | 26.5% |
| 资本支出强度资本支出/营收 | 0.4% | 12.4% |
| 现金转化率经营现金流/净利润 | 1.13× | 2.88× |
| 过去12个月自由现金流最近4个季度 | $699.5M | $577.1M |
8季度趋势，按日历期对齐
经营现金流UIWMS
| Q4 25 | $263.9M | $269.3M | ||
| Q3 25 | $198.5M | $234.9M | ||
| Q2 25 | $130.4M | $275.0M | ||
| Q1 25 | $123.6M | $41.2M | ||
| Q4 24 | $152.4M | $189.9M | ||
| Q3 24 | $233.7M | $166.9M | ||
| Q2 24 | $231.4M | $183.4M | ||
| Q1 24 | $163.9M | $17.7M |
自由现金流UIWMS
| Q4 25 | $260.3M | $183.6M | ||
| Q3 25 | $193.3M | $176.4M | ||
| Q2 25 | $125.2M | $222.4M | ||
| Q1 25 | $120.7M | $-5.3M | ||
| Q4 24 | $150.4M | $135.7M | ||
| Q3 24 | $231.1M | $112.4M | ||
| Q2 24 | $229.5M | $125.7M | ||
| Q1 24 | $160.6M | $-29.8M |
自由现金流率UIWMS
| Q4 25 | 31.9% | 26.5% | ||
| Q3 25 | 26.3% | 20.7% | ||
| Q2 25 | 16.5% | 26.8% | ||
| Q1 25 | 18.2% | -0.9% | ||
| Q4 24 | 25.1% | 19.7% | ||
| Q3 24 | 42.0% | 14.4% | ||
| Q2 24 | 45.2% | 15.4% | ||
| Q1 24 | 32.6% | -4.6% |
资本支出强度UIWMS
| Q4 25 | 0.4% | 12.4% | ||
| Q3 25 | 0.7% | 6.9% | ||
| Q2 25 | 0.7% | 6.3% | ||
| Q1 25 | 0.4% | 7.6% | ||
| Q4 24 | 0.3% | 7.9% | ||
| Q3 24 | 0.5% | 7.0% | ||
| Q2 24 | 0.4% | 7.1% | ||
| Q1 24 | 0.7% | 7.3% |
现金转化率UIWMS
| Q4 25 | 1.13× | 2.88× | ||
| Q3 25 | 0.95× | 1.51× | ||
| Q2 25 | 0.49× | 1.91× | ||
| Q1 25 | 0.68× | 0.53× | ||
| Q4 24 | 1.11× | 2.34× | ||
| Q3 24 | 1.83× | 1.28× | ||
| Q2 24 | 2.23× | 1.14× | ||
| Q1 24 | 2.15× | 0.19× |
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% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
