|
截至 3 个月 |
2026年3月31日 |
|
2025年12月31日 |
|
2025年9月30日 |
|
2025年6月30日 |
|
2025年3月31日 |
|
2024年12月31日 |
|
2024年9月30日 |
|
2024年6月30日 |
|
2024年3月31日 |
|
2023年12月31日 |
|
2023年9月30日 |
|
2023年6月30日 |
|
2023年3月31日 |
|
2022年12月31日 |
|
2022年9月30日 |
|
2022年6月30日 |
|
2022年3月31日 |
|
2021年12月31日 |
|
2021年9月30日 |
|
2021年6月30日 |
|
2021年3月31日 |
|
|
|
服务 |
80.87% | |
75.87% | |
82.50% | |
81.99% | |
82.08% | |
77.88% | |
83.19% | |
83.92% | |
82.73% | |
78.29% | |
82.74% | |
83.06% | |
81.68% | |
79.23% | |
82.32% | |
81.87% | |
80.77% | |
83.23% | |
87.28% | |
88.45% | |
87.63% | |
|
|
设备 |
19.13% | |
24.13% | |
17.50% | |
18.01% | |
17.92% | |
22.12% | |
16.81% | |
16.08% | |
17.27% | |
21.71% | |
17.26% | |
16.94% | |
18.32% | |
20.77% | |
17.68% | |
18.13% | |
19.23% | |
16.77% | |
12.72% | |
11.55% | |
12.37% | |
|
|
营业收入 |
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
|
|
设备 |
-20.01% | |
-25.39% | |
-17.81% | |
-18.60% | |
-18.59% | |
-22.78% | |
-16.33% | |
-16.16% | |
-17.13% | |
-22.49% | |
-17.20% | |
-16.90% | |
-18.77% | |
-22.33% | |
-18.11% | |
-18.67% | |
-20.32% | |
-18.20% | |
-13.59% | |
-12.13% | |
-12.64% | |
|
|
广播、节目编制和运营 |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
-11.98% | |
-11.90% | |
-17.26% | |
-17.16% | |
|
|
其他收入成本，不包括折旧和摊销 |
-19.87% | |
-18.89% | |
-20.68% | |
-20.79% | |
-20.70% | |
-21.17% | |
-22.17% | |
-22.24% | |
-22.68% | |
-20.95% | |
-22.52% | |
-22.63% | |
-22.14% | |
-20.97% | |
-22.50% | |
-22.96% | |
-22.55% | |
-18.15% | |
-19.16% | |
-18.52% | |
-18.19% | |
|
|
收入成本 |
-39.88% |
|
-44.28% |
|
-38.49% |
|
-39.39% |
|
-39.29% |
|
-43.95% |
|
-38.49% |
|
-38.40% |
|
-39.81% |
|
-43.44% |
|
-39.72% |
|
-39.53% |
|
-40.91% |
|
-43.30% |
|
-40.61% |
|
-41.63% |
|
-42.86% |
|
-48.33% |
|
-44.65% |
|
-47.90% |
|
-47.99% |
|
|
|
毛利 |
60.12% |
|
55.72% |
|
61.51% |
|
60.61% |
|
60.71% |
|
56.05% |
|
61.51% |
|
61.60% |
|
60.19% |
|
56.56% |
|
60.28% |
|
60.47% |
|
59.09% |
|
56.70% |
|
59.39% |
|
58.37% |
|
57.14% |
|
51.67% |
|
55.35% |
|
52.10% |
|
52.01% |
|
|
|
销售、一般和行政 |
-23.22% | |
-22.11% | |
-24.27% | |
-22.51% | |
-23.33% | |
-22.88% | |
-23.03% | |
-23.64% | |
-23.38% | |
-23.37% | |
-23.74% | |
-23.43% | |
-23.81% | |
-23.98% | |
-23.97% | |
-24.51% | |
-23.49% | |
-24.40% | |
-23.06% | |
-21.25% | |
-21.35% | |
|
|
资产减值、放弃和重组 |
0.00% | |
-1.00% | |
0.00% | |
0.00% | |
-1.65% | |
-0.04% | |
-14.64% | |
-1.61% | |
-0.53% | |
-1.84% | |
-1.99% | |
0.00% | |
0.00% | |
-85.36% | |
-0.38% | |
-2.13% | |
0.00% | |
-0.46% | |
-0.40% | |
-10.34% | |
0.00% | |
|
|
折旧和摊销 |
-15.76% | |
-15.32% | |
-17.31% | |
-17.02% | |
-16.95% | |
-16.64% | |
-16.84% | |
-17.02% | |
-16.81% | |
-14.88% | |
-15.50% | |
-15.63% | |
-15.37% | |
-14.66% | |
-15.03% | |
-15.01% | |
-15.02% | |
-13.85% | |
-14.07% | |
-13.08% | |
-13.22% | |
|
|
营业收入（亏损） |
21.13% |
|
17.30% |
|
19.93% |
|
21.07% |
|
18.79% |
|
16.49% |
|
7.00% |
|
19.33% |
|
19.47% |
|
16.46% |
|
19.05% |
|
21.41% |
|
19.91% |
|
-67.29% |
|
20.01% |
|
16.72% |
|
18.64% |
|
12.96% |
|
17.81% |
|
7.42% |
|
17.44% |
|
|
|
利息支出 |
-5.75% | |
-5.35% | |
-5.54% | |
-5.37% | |
-5.41% | |
-5.14% | |
-5.54% | |
-5.70% | |
-5.74% | |
-5.39% | |
-5.48% | |
-5.37% | |
-5.67% | |
-4.98% | |
-4.73% | |
-5.07% | |
-5.47% | |
-4.06% | |
-4.18% | |
-3.82% | |
-4.26% | |
|
|
关联公司净收入（亏损）中的权益 |
-0.13% | |
-0.03% | |
-0.07% | |
1.57% | |
4.70% | |
3.33% | |
0.90% | |
1.17% | |
0.98% | |
1.05% | |
1.38% | |
1.27% | |
1.79% | |
1.19% | |
1.30% | |
1.70% | |
1.75% | |
1.09% | |
0.23% | |
0.09% | |
0.12% | |
|
|
其他收入（支出），净额 |
1.89% | |
0.83% | |
20.37% | |
2.49% | |
1.49% | |
1.76% | |
2.37% | |
2.29% | |
1.50% | |
-2.95% | |
1.45% | |
3.30% | |
3.10% | |
-2.93% | |
7.56% | |
7.77% | |
7.26% | |
5.75% | |
5.71% | |
2.27% | |
9.61% | |
|
|
其他收入（支出） |
-4.00% |
|
-4.55% |
|
14.76% |
|
-1.31% |
|
0.77% |
|
-0.06% |
|
-2.27% |
|
-2.25% |
|
-3.26% |
|
-7.29% |
|
-2.64% |
|
-0.81% |
|
-0.78% |
|
-6.72% |
|
4.13% |
|
4.40% |
|
3.54% |
|
2.78% |
|
1.76% |
|
-1.46% |
|
5.47% |
|
|
|
持续经营业务所得税前收入（亏损） |
17.13% |
|
12.74% |
|
34.69% |
|
19.77% |
|
19.56% |
|
16.43% |
|
4.73% |
|
17.09% |
|
16.21% |
|
9.17% |
|
16.41% |
|
20.61% |
|
19.13% |
|
-74.01% |
|
24.15% |
|
21.12% |
|
22.18% |
|
15.74% |
|
19.57% |
|
5.96% |
|
22.90% |
|
|
|
持续经营业务的所得税费用 |
-3.74% | |
-0.33% | |
-3.18% | |
-4.01% | |
-4.24% | |
-2.79% | |
-4.25% | |
-3.83% | |
-3.72% | |
-1.11% | |
-3.80% | |
-4.69% | |
-4.36% | |
0.25% | |
-3.02% | |
-5.09% | |
-4.85% | |
-2.58% | |
-3.86% | |
-1.71% | |
-4.83% | |
|
|
持续经营业务收入（亏损） |
13.39% |
|
12.42% |
|
31.51% |
|
15.76% |
|
15.32% |
|
13.65% |
|
0.48% |
|
13.25% |
|
12.49% |
|
8.06% |
|
12.61% |
|
15.92% |
|
14.77% |
|
-73.76% |
|
21.12% |
|
16.03% |
|
17.33% |
|
13.16% |
|
15.71% |
|
4.25% |
|
18.08% |
|
|
|
来自已终止经营业务的收益（亏损），扣除税项 |
-0.12% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
-0.11% | |
0.18% | |
-0.72% | |
0.05% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
|
|
净利润（亏损） |
13.27% |
|
12.42% |
|
31.51% |
|
15.76% |
|
15.32% |
|
13.65% |
|
0.48% |
|
13.25% |
|
12.49% |
|
8.06% |
|
12.61% |
|
15.92% |
|
14.77% |
|
-73.88% |
|
21.30% |
|
15.31% |
|
17.38% |
|
13.16% |
|
15.71% |
|
4.25% |
|
18.08% |
|
|
|
归属于非控制性权益的净利润 |
-1.12% | |
-1.10% | |
-1.18% | |
-1.17% | |
-1.11% | |
-1.02% | |
-1.06% | |
-1.18% | |
-1.02% | |
-1.23% | |
-1.09% | |
-0.91% | |
-0.75% | |
-1.15% | |
-1.24% | |
-1.28% | |
-1.19% | |
-0.85% | |
-0.89% | |
-0.69% | |
-0.89% | |
|
|
归属于AT&T的净收益（亏损） |
12.15% |
|
11.32% |
|
30.33% |
|
14.59% |
|
14.21% |
|
12.63% |
|
-0.58% |
|
12.07% |
|
11.47% |
|
6.83% |
|
11.52% |
|
15.00% |
|
14.03% |
|
-75.03% |
|
20.06% |
|
14.02% |
|
16.19% |
|
12.31% |
|
14.82% |
|
3.56% |
|
17.18% |
|
|
|
优先股股息和赎回收益 |
-0.11% | |
-0.11% | |
-0.12% | |
-0.12% | |
0.14% | |
-0.15% | |
-0.17% | |
-0.17% | |
-0.17% | |
-0.17% | |
-0.17% | |
-0.17% | |
-0.17% | |
-0.17% | |
-0.16% | |
-0.18% | |
-0.16% | |
-0.12% | |
-0.13% | |
-0.13% | |
-0.11% | |
|
|
归属于普通股的净收益（亏损） |
12.04% |
|
11.21% |
|
30.21% |
|
14.47% |
|
14.35% |
|
12.48% |
|
-0.75% |
|
11.90% |
|
11.31% |
|
6.67% |
|
11.35% |
|
14.83% |
|
13.86% |
|
-75.20% |
|
19.89% |
|
13.85% |
|
16.03% |
|
12.19% |
|
14.70% |
|
3.44% |
|
17.07% |
|
根据报告：
10-Q (报告日期： 2026-03-31), 10-K (报告日期： 2025-12-31), 10-Q (报告日期： 2025-09-30), 10-Q (报告日期： 2025-06-30), 10-Q (报告日期： 2025-03-31), 10-K (报告日期： 2024-12-31), 10-Q (报告日期： 2024-09-30), 10-Q (报告日期： 2024-06-30), 10-Q (报告日期： 2024-03-31), 10-K (报告日期： 2023-12-31), 10-Q (报告日期： 2023-09-30), 10-Q (报告日期： 2023-06-30), 10-Q (报告日期： 2023-03-31), 10-K (报告日期： 2022-12-31), 10-Q (报告日期： 2022-09-30), 10-Q (报告日期： 2022-06-30), 10-Q (报告日期： 2022-03-31), 10-K (报告日期： 2021-12-31), 10-Q (报告日期： 2021-09-30), 10-Q (报告日期： 2021-06-30), 10-Q (报告日期： 2021-03-31).
收入构成呈现出明显的季节性波动特征。服务收入在大多数季度占据主导地位，比例通常在80%至88%之间，但在每年的第四季度会出现周期性下降。与之相对应，设备收入在第四季度显著上升，最高在部分年度达到24%以上。这种模式表明年度末设备销售需求的集中增长对收入结构产生直接影响。
- 盈利能力与成本趋势
- 毛利率在观察期内呈现整体上升趋势，从早期的52%左右逐步提升至60%至61%的水平。这一增长主要得益于收入成本占营业收入比例的下降，从约48%降低至38%至40%之间，显示出成本控制效率的提高或业务结构的优化。
- 营业利润与异常波动
- 营业收入率在大多数季度保持在16%至21%的稳定区间。然而，在2022年第四季度出现剧烈波动，营业收入率骤降至-67.29%。经分析，该异常波动直接关联于同期高达85.36%的资产减值、放弃和重组支出。在随后的季度中，营业利润迅速恢复至正常水平。
- 运营费用分析
- 销售、一般和行政费用表现极其稳定，始终维持在营业收入的22%至24%之间。折旧和摊销费用则呈现缓慢上升趋势，从早期的13%左右增加至16%至17%的区间，反映出资本化资产规模的扩大或资产更新带来的折旧压力增加。
- 净利润与非经常性影响
- 净利润率在排除异常季度后，通常分布在8%至21%之间。除了2022年第四季度的重大亏损外，2025年第三季度出现了一个显著的盈利高峰，净利润率达到31.51%，这主要由同期其他收入净额的异常增长（占营业收入的20.37%）所驱动。
- 财务费用与税务影响
- 利息支出稳定在营业收入的4%至6%之间，显示出财务成本相对固定。持续经营业务的所得税费用通常占营业收入的1%至5%，对最终净收益的影响保持在可预测的范围内。
