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Ubiquiti Inc.（UI）与沃茨水工业（WTS）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是沃茨水工业的1.2倍（$814.9M vs $677.3M），Ubiquiti Inc.净利率更高（28.7% vs 14.7%，领先14.0%），Ubiquiti Inc.同比增速更快（35.8% vs 21.4%），Ubiquiti Inc.自由现金流更多（$260.3M vs $6.6M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 6.5%）
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。
沃茨水工业旗下AERCO是暖通管道领域的商用冷凝锅炉、高效热水设备及能量回收系统供应商，服务覆盖教育、住宿、政府、办公楼、医疗、工业、多户型住宅等多元市场，1949年推出行业首款半即热式无罐蒸汽热水器，1988年推出首款冷凝全调制设备。
UI vs WTS — 直观对比
营收规模更大
UI
是对方的1.2倍
$677.3M
营收增速更快
UI
高出14.5%
21.4%
净利率更高
UI
高出14.0%
14.7%
自由现金流更多
UI
多$253.7M
$6.6M
两年增速更快
UI
近两年复合增速
6.5%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $814.9M | $677.3M |
| 净利润 | $233.6M | $99.6M |
| 毛利率 | 45.9% | 48.1% |
| 营业利润率 | 35.9% | 19.6% |
| 净利率 | 28.7% | 14.7% |
| 营收同比 | 35.8% | 21.4% |
| 净利润同比 | 70.8% | 34.6% |
| 每股收益（稀释后） | $3.86 | $2.97 |
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UIWTS
| Q1 26 | — | $677.3M | ||
| Q4 25 | $814.9M | $625.1M | ||
| Q3 25 | $733.8M | $611.7M | ||
| Q2 25 | $759.2M | $643.7M | ||
| Q1 25 | $664.2M | $558.0M | ||
| Q4 24 | $599.9M | $540.4M | ||
| Q3 24 | $550.3M | $543.6M | ||
| Q2 24 | $507.5M | $597.3M |
净利润UIWTS
| Q1 26 | — | $99.6M | ||
| Q4 25 | $233.6M | $83.7M | ||
| Q3 25 | $207.9M | $82.2M | ||
| Q2 25 | $266.7M | $100.9M | ||
| Q1 25 | $180.4M | $74.0M | ||
| Q4 24 | $136.8M | $67.5M | ||
| Q3 24 | $128.0M | $69.1M | ||
| Q2 24 | $103.8M | $82.0M |
毛利率UIWTS
| Q1 26 | — | 48.1% | ||
| Q4 25 | 45.9% | 49.5% | ||
| Q3 25 | 46.0% | 48.8% | ||
| Q2 25 | 45.1% | 50.6% | ||
| Q1 25 | 44.5% | 48.8% | ||
| Q4 24 | 41.2% | 46.7% | ||
| Q3 24 | 42.1% | 47.3% | ||
| Q2 24 | 40.2% | 47.7% |
营业利润率UIWTS
| Q1 26 | — | 19.6% | ||
| Q4 25 | 35.9% | 18.2% | ||
| Q3 25 | 35.7% | 18.2% | ||
| Q2 25 | 34.4% | 21.0% | ||
| Q1 25 | 34.2% | 15.7% | ||
| Q4 24 | 29.8% | 16.5% | ||
| Q3 24 | 30.7% | 17.1% | ||
| Q2 24 | 27.3% | 18.7% |
净利率UIWTS
| Q1 26 | — | 14.7% | ||
| Q4 25 | 28.7% | 13.4% | ||
| Q3 25 | 28.3% | 13.4% | ||
| Q2 25 | 35.1% | 15.7% | ||
| Q1 25 | 27.2% | 13.3% | ||
| Q4 24 | 22.8% | 12.5% | ||
| Q3 24 | 23.3% | 12.7% | ||
| Q2 24 | 20.5% | 13.7% |
每股收益（稀释后）UIWTS
| Q1 26 | — | $2.97 | ||
| Q4 25 | $3.86 | $2.50 | ||
| Q3 25 | $3.43 | $2.45 | ||
| Q2 25 | $4.40 | $3.01 | ||
| Q1 25 | $2.98 | $2.21 | ||
| Q4 24 | $2.26 | $2.02 | ||
| Q3 24 | $2.12 | $2.06 | ||
| Q2 24 | $1.72 | $2.44 |
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 | $374.7M |
| 总债务越低越好 | $47.5M | $197.8M |
| 股东权益账面价值 | $1.0B | $2.1B |
| 总资产 | $1.6B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.05× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资UIWTS
| Q1 26 | — | $374.7M | ||
| Q4 25 | $302.8M | $405.5M | ||
| Q3 25 | $177.2M | $457.7M | ||
| Q2 25 | $149.7M | $369.3M | ||
| Q1 25 | $151.0M | $336.8M | ||
| Q4 24 | $133.1M | $386.9M | ||
| Q3 24 | $165.2M | $303.9M | ||
| Q2 24 | $126.3M | $279.4M |
总债务UIWTS
| Q1 26 | — | $197.8M | ||
| 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 | — |
股东权益UIWTS
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.0B | $2.0B | ||
| Q3 25 | $828.4M | $2.0B | ||
| Q2 25 | $668.3M | $1.9B | ||
| Q1 25 | $436.1M | $1.8B | ||
| Q4 24 | $290.4M | $1.7B | ||
| Q3 24 | $188.1M | $1.7B | ||
| Q2 24 | $95.1M | $1.6B |
总资产UIWTS
| Q1 26 | — | $2.9B | ||
| Q4 25 | $1.6B | $2.9B | ||
| Q3 25 | $1.5B | $2.7B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.3B | $2.5B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $1.2B | $2.4B | ||
| Q2 24 | $1.2B | $2.4B |
负债/权益比UIWTS
| Q1 26 | — | 0.09× | ||
| 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× | — |
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 | $17.9M |
| 自由现金流经营现金流 - 资本支出 | $260.3M | $6.6M |
| 自由现金流率自由现金流/营收 | 31.9% | 1.0% |
| 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× | 0.18× |
| 过去12个月自由现金流最近4个季度 | $699.5M | $317.3M |
8季度趋势，按日历期对齐
经营现金流UIWTS
| Q1 26 | — | $17.9M | ||
| Q4 25 | $263.9M | $154.7M | ||
| Q3 25 | $198.5M | $122.4M | ||
| Q2 25 | $130.4M | $69.7M | ||
| Q1 25 | $123.6M | $55.2M | ||
| Q4 24 | $152.4M | $139.5M | ||
| Q3 24 | $233.7M | $90.7M | ||
| Q2 24 | $231.4M | $85.3M |
自由现金流UIWTS
| Q1 26 | — | $6.6M | ||
| Q4 25 | $260.3M | $140.3M | ||
| Q3 25 | $193.3M | $110.9M | ||
| Q2 25 | $125.2M | $59.5M | ||
| Q1 25 | $120.7M | $45.6M | ||
| Q4 24 | $150.4M | $127.5M | ||
| Q3 24 | $231.1M | $84.3M | ||
| Q2 24 | $229.5M | $78.5M |
自由现金流率UIWTS
| Q1 26 | — | 1.0% | ||
| Q4 25 | 31.9% | 22.4% | ||
| Q3 25 | 26.3% | 18.1% | ||
| Q2 25 | 16.5% | 9.2% | ||
| Q1 25 | 18.2% | 8.2% | ||
| Q4 24 | 25.1% | 23.6% | ||
| Q3 24 | 42.0% | 15.5% | ||
| Q2 24 | 45.2% | 13.1% |
资本支出强度UIWTS
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 2.3% | ||
| Q3 25 | 0.7% | 1.9% | ||
| Q2 25 | 0.7% | 1.6% | ||
| Q1 25 | 0.4% | 1.7% | ||
| Q4 24 | 0.3% | 2.2% | ||
| Q3 24 | 0.5% | 1.2% | ||
| Q2 24 | 0.4% | 1.1% |
现金转化率UIWTS
| Q1 26 | — | 0.18× | ||
| Q4 25 | 1.13× | 1.85× | ||
| Q3 25 | 0.95× | 1.49× | ||
| Q2 25 | 0.49× | 0.69× | ||
| Q1 25 | 0.68× | 0.75× | ||
| Q4 24 | 1.11× | 2.07× | ||
| Q3 24 | 1.83× | 1.31× | ||
| Q2 24 | 2.23× | 1.04× |
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% |
WTS
| segment net | $517.8M | 76% |
| Other | $159.5M | 24% |
