<p>Compass Diversified (CODI) 在 2025 年第一季度的收入约为 4.538 亿美元，基本每股收益约为-0.59 美元，持续经营的净收入约为-4400 万美元，亏损幅度较去年同期的-1.183 亿美元有所缩小，当时的收入为 4.108 亿美元。在过去几个季度中，该公司的收入在大约 4.108 亿美元和 5.826 亿美元之间波动，而基本每股收益则从-1.57 美元波动至 0.08 美元，再次回到负值，这突显出尽管收入增长，企业仍在努力稳定利润率。当前收入在过去 12 个月内约为 18 亿美元，这一最新数据使得人们关注 CODI 能否将规模转化为更具韧性的盈利能力。</p>
<p>查看我们对 Compass Diversified 的完整分析。</p>
<p>在主要数据公布后，下一步是将其与关于 Compass Diversified 的主流市场叙事进行对比，以查看哪些故事能够成立，哪些故事则受到最新利润率和亏损状况的挑战。</p>
<p>查看社区对 Compass Diversified 的看法。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/ec5fff03-a509-49c9-bae6-45cb87e6a3e2/chart/earnings-and-revenue-history?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1642" height="1120" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/ec5fff03-a509-49c9-bae6-45cb87e6a3e2/chart/earnings-and-revenue-history"/></p>
<p>截至 2025 年 12 月的 NYSE:CODI 收益与收入历史</p>
<h2>基于过去数据的亏损缩小</h2>
<ul>
<li>从过去 12 个月的视角来看，净亏损从一年前的约 3.657 亿美元改善至约 2.229 亿美元，而同期收入从约 16 亿美元上升至 18 亿美元。</li>
<li>分析师的共识观点依赖于成本控制和运营效率来提升利润率，最近的每股收益从约-5.0 美元转变为约-3.0 美元，
<ul>
<li>支持了盈利能力朝着正确方向发展的观点，尽管过去一年仍然亏损约 2.229 亿美元。</li>
<li>与更好的控制和修订的管理协议可以逐步将更高的收入转化为改善的净利润率的观点一致。</li>
</ul>
</li>
</ul>
<p>关注这一逐步恢复的每股收益的投资者可能希望看到它与详细的利润驱动因素和投资组合变动在乐观案例叙事中的一致性：<strong>🐂 Compass Diversified 乐观案例</strong></p>
<h2>快速收入展望与深度五年亏损</h2>
<ul>
<li>收入预计每年增长约 19.6%，然而净亏损在过去五年中恶化了约 42%，并在过去 12 个月内保持在约-2.229 亿美元。</li>
<li>空头认为，持续的投资组合更替和更高的融资成本威胁到盈利的稳定性，而持续的负每股收益约为-2.95
<ul>
<li>加强了人们的担忧，即使收入增长，企业在最近六个季度的历史中尚未显示出持续的正净收入。</li>
<li>反映出频繁的收购和剥离可能使合并收益波动，难以依赖 19.6% 的增长预测转化为持久的利润。</li>
</ul>
</li>
</ul>
<p>对于关注这一长期加深亏损历史的怀疑者，空头叙事进一步探讨了交易活动和成本如何可能对盈利施加压力：<strong>🐻 Compass Diversified 空头案例</strong></p>
<h2>便宜的 0.2 倍销售倍数与股息压力</h2>
<ul>
<li>CODI 的交易倍数约为销售的 0.2 倍，而同行约为 2.0 倍，整个行业为 2.6 倍，同时还承载着近 20.9% 的股息收益率，这一收益率并未被收益或自由现金流覆盖。</li>
<li>共识观点强调了资本部署的纪律性和永久资本结构作为优势，但一年以下的现金流和过去 12 个月约 2.229 亿美元的净亏损
<ul>
<li>挑战了当前股息水平是否能被企业现状所舒适支持的观点。</li>
<li>表明即使以看似低的 0.2 倍销售估值，投资者仍需权衡资产负债表压力与增长和收购故事。</li>
</ul>
</li>
</ul>
<h2>下一步</h2>
<p>要查看这些结果如何与长期增长、风险和估值相关，请查看 Simply Wall St 上关于 Compass Diversified 的完整社区叙事。将该公司添加到您的关注列表或投资组合中，以便在故事发展时收到提醒。</p>
<p>从另一个角度看数字？花几分钟时间将该视角转化为简洁的数据支持故事：按您的方式进行</p>
<p>您对 Compass Diversified 研究的一个良好起点是我们的分析，强调了 2 个关键奖励和 4 个可能影响您投资决策的重要警示信号。</p>
<h2>探索替代方案</h2>
<p>Compass Diversified 将快速的收入增长与持续的重大亏损、未覆盖的股息和短期现金流结合在一起，使其资产负债表承压。</p>
<p>如果这种深度亏损、股息压力和流动性有限的组合让您感到风险较大，请使用我们的稳健资产负债表和基本面股票筛选器（1944 个结果）快速缩小到财务更强健的企业。</p>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们基于历史数据和分析师预测提供评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成购买或出售任何股票的推荐，也未考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
<p>移动基础设施用于国防和灾难</p>
<p>下一波机器人技术不是类人机器人，而是能够在 30 分钟内提供 5G、ISR 和雷达的完全自主塔。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>代表 CiTech 赞助</p>

CODI

<p>Compass Diversified (CODI) 报告了第一季度的亏损有所收窄，收入为 4.538 亿美元，净亏损为 4400 万美元，而去年同期亏损为 1.183 亿美元。尽管收入增长，公司在实现持续盈利方面面临挑战，持续的投资组合变动和高融资成本使其困难重重。CODI 的销售倍数较低，仅为 0.2 倍，但其高股息收益率并未得到盈利的支持。分析师指出，成本控制和运营效率是改善利润率的潜在途径</p>

<p>Compass Diversified (CODI) opened 2025 with Q1 revenue of about $453.8 million and basic EPS of roughly -$0.59, alongside net income from continuing operations of around -$44.0 million, marking a narrower loss than the -$118.3 million booked a year earlier on $410.8 million of revenue. Over the past few quarters, the company has seen revenue move between roughly $410.8 million and $582.6 million while basic EPS has swung from -$1.57 to $0.08 and back into the red, underscoring a business that is still working to stabilize margins even as top line has expanded. With revenue now running at about $1.8 billion on a trailing twelve month basis, this latest print puts the spotlight firmly on whether CODI can convert scale into more resilient profitability.</p>
<div class="lb-trans"><p>Compass Diversified (CODI) 在 2025 年第一季度的收入约为 4.538 亿美元，基本每股收益约为-0.59 美元，持续经营的净收入约为-4400 万美元，亏损幅度较去年同期的-1.183 亿美元有所缩小，当时的收入为 4.108 亿美元。在过去几个季度中，该公司的收入在大约 4.108 亿美元和 5.826 亿美元之间波动，而基本每股收益则从-1.57 美元波动至 0.08 美元，再次回到负值，这突显出尽管收入增长，企业仍在努力稳定利润率。当前收入在过去 12 个月内约为 18 亿美元，这一最新数据使得人们关注 CODI 能否将规模转化为更具韧性的盈利能力。</p>
</div><p>See our full analysis for Compass Diversified.</p>
<div class="lb-trans"><p>查看我们对 Compass Diversified 的完整分析。</p>
</div><p>With the headline numbers on the table, the next step is to line them up against the dominant market narratives around Compass Diversified to see which stories hold up and which ones the latest margins and loss profile start to challenge.</p>
<div class="lb-trans"><p>在主要数据公布后，下一步是将其与关于 Compass Diversified 的主流市场叙事进行对比，以查看哪些故事能够成立，哪些故事则受到最新利润率和亏损状况的挑战。</p>
</div><p>See what the community is saying about Compass Diversified</p>
<div class="lb-trans"><p>查看社区对 Compass Diversified 的看法。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/ec5fff03-a509-49c9-bae6-45cb87e6a3e2/chart/earnings-and-revenue-history" alt="" original-src="https://images.simplywall.st/company/ec5fff03-a509-49c9-bae6-45cb87e6a3e2/chart/earnings-and-revenue-history"/></p>
<p>NYSE:CODI Earnings &amp; Revenue History as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:CODI 收益与收入历史</p>
</div><h2>Losses Narrow on Trailing Basis</h2>
<div class="lb-trans"><h2>基于过去数据的亏损缩小</h2>
</div><ul>
<li>On a trailing 12 month view, net loss improved from about $365.7 million a year ago to roughly $222.9 million, while revenue rose from about $1.6 billion to $1.8 billion over the same span.</li>
<li>Analysts' consensus narrative leans on cost discipline and operational efficiency to lift margins, and the recent shift in trailing EPS from around -$5.0 to about -$3.0 per share,
<ul>
<li>supports the idea that profitability is moving in the right direction even though earnings are still negative at about -$222.9 million over the last year.</li>
<li>lines up with the view that better controls and a revised management agreement can gradually turn higher revenue into improved net margins.</li>
</ul>
</li>
</ul>
<div class="lb-trans"><ul>
<li>从过去 12 个月的视角来看，净亏损从一年前的约 3.657 亿美元改善至约 2.229 亿美元，而同期收入从约 16 亿美元上升至 18 亿美元。</li>
<li>分析师的共识观点依赖于成本控制和运营效率来提升利润率，最近的每股收益从约-5.0 美元转变为约-3.0 美元，
<ul>
<li>支持了盈利能力朝着正确方向发展的观点，尽管过去一年仍然亏损约 2.229 亿美元。</li>
<li>与更好的控制和修订的管理协议可以逐步将更高的收入转化为改善的净利润率的观点一致。</li>
</ul>
</li>
</ul>
</div><p>Investors watching this gradual EPS recovery may want to see how it lines up with detailed margin drivers and portfolio moves in the bullish case narrative: <strong>🐂 Compass Diversified Bull Case</strong></p>
<div class="lb-trans"><p>关注这一逐步恢复的每股收益的投资者可能希望看到它与详细的利润驱动因素和投资组合变动在乐观案例叙事中的一致性：<strong>🐂 Compass Diversified 乐观案例</strong></p>
</div><h2>Fast Revenue Outlook versus Deep Five Year Losses</h2>
<div class="lb-trans"><h2>快速收入展望与深度五年亏损</h2>
</div><ul>
<li>Revenue is forecast to grow at about 19.6 percent per year, yet net losses have worsened by roughly 42 percent per year over the past five years and remain at about -$222.9 million on a trailing 12 month basis.</li>
<li>Bears argue that ongoing portfolio churn and higher financing costs threaten earnings stability, and the persistence of negative trailing EPS of about -$2.95
<ul>
<li>reinforces worries that even with revenue growth, the business has not yet shown consistent positive net income in the recent six quarter history.</li>
<li>echoes concerns that frequent acquisitions and divestitures can keep consolidated earnings volatile, making it harder to rely on the 19.6 percent growth forecast translating into durable profits.</li>
</ul>
</li>
</ul>
<div class="lb-trans"><ul>
<li>收入预计每年增长约 19.6%，然而净亏损在过去五年中恶化了约 42%，并在过去 12 个月内保持在约-2.229 亿美元。</li>
<li>空头认为，持续的投资组合更替和更高的融资成本威胁到盈利的稳定性，而持续的负每股收益约为-2.95
<ul>
<li>加强了人们的担忧，即使收入增长，企业在最近六个季度的历史中尚未显示出持续的正净收入。</li>
<li>反映出频繁的收购和剥离可能使合并收益波动，难以依赖 19.6% 的增长预测转化为持久的利润。</li>
</ul>
</li>
</ul>
</div><p>For skeptics focused on that long history of deepening losses, the bearish narrative digs further into how deal activity and costs might keep pressure on earnings: <strong>🐻 Compass Diversified Bear Case</strong></p>
<div class="lb-trans"><p>对于关注这一长期加深亏损历史的怀疑者，空头叙事进一步探讨了交易活动和成本如何可能对盈利施加压力：<strong>🐻 Compass Diversified 空头案例</strong></p>
</div><h2>Cheap 0.2x Sales Multiple with Dividend Strain</h2>
<div class="lb-trans"><h2>便宜的 0.2 倍销售倍数与股息压力</h2>
</div><ul>
<li>CODI trades at about 0.2 times sales versus roughly 2.0 times for peers and 2.6 times for the broader industry, while also carrying a dividend yield near 20.9 percent that is not covered by earnings or free cash flow.</li>
<li>Consensus narrative highlights disciplined capital deployment and a permanent capital structure as strengths, yet the combination of a sub one year cash runway and a trailing 12 month net loss of about $222.9 million
<ul>
<li>challenges the idea that the current dividend level is comfortably supported by the business as it stands today.</li>
<li>suggests that even with an apparently low 0.2 times sales valuation, investors need to weigh balance sheet pressure alongside the growth and acquisition story.</li>
</ul>
</li>
</ul>
<div class="lb-trans"><ul>
<li>CODI 的交易倍数约为销售的 0.2 倍，而同行约为 2.0 倍，整个行业为 2.6 倍，同时还承载着近 20.9% 的股息收益率，这一收益率并未被收益或自由现金流覆盖。</li>
<li>共识观点强调了资本部署的纪律性和永久资本结构作为优势，但一年以下的现金流和过去 12 个月约 2.229 亿美元的净亏损
<ul>
<li>挑战了当前股息水平是否能被企业现状所舒适支持的观点。</li>
<li>表明即使以看似低的 0.2 倍销售估值，投资者仍需权衡资产负债表压力与增长和收购故事。</li>
</ul>
</li>
</ul>
</div><h2>Next Steps</h2>
<div class="lb-trans"><h2>下一步</h2>
</div><p>To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Compass Diversified on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.</p>
<div class="lb-trans"><p>要查看这些结果如何与长期增长、风险和估值相关，请查看 Simply Wall St 上关于 Compass Diversified 的完整社区叙事。将该公司添加到您的关注列表或投资组合中，以便在故事发展时收到提醒。</p>
</div><p>See the numbers from another angle? Take a couple of minutes to turn that viewpoint into a concise, data backed story of your own: Do it your way</p>
<div class="lb-trans"><p>从另一个角度看数字？花几分钟时间将该视角转化为简洁的数据支持故事：按您的方式进行</p>
</div><p>A great starting point for your Compass Diversified research is our analysis highlighting 2 key rewards and 4 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>您对 Compass Diversified 研究的一个良好起点是我们的分析，强调了 2 个关键奖励和 4 个可能影响您投资决策的重要警示信号。</p>
</div><h2>Explore Alternatives</h2>
<div class="lb-trans"><h2>探索替代方案</h2>
</div><p>Compass Diversified pairs rapid revenue growth with heavy ongoing losses, an uncovered dividend and a short cash runway that leaves its balance sheet under pressure.</p>
<div class="lb-trans"><p>Compass Diversified 将快速的收入增长与持续的重大亏损、未覆盖的股息和短期现金流结合在一起，使其资产负债表承压。</p>
</div><p>If that mix of deep losses, dividend strain and limited liquidity feels risky, use our solid balance sheet and fundamentals stocks screener (1944 results) to quickly narrow in on financially stronger businesses built to endure.</p>
<div class="lb-trans"><p>如果这种深度亏损、股息压力和流动性有限的组合让您感到风险较大，请使用我们的稳健资产负债表和基本面股票筛选器（1944 个结果）快速缩小到财务更强健的企业。</p>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们基于历史数据和分析师预测提供评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成购买或出售任何股票的推荐，也未考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>移动基础设施用于国防和灾难</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波机器人技术不是类人机器人，而是能够在 30 分钟内提供 5G、ISR 和雷达的完全自主塔。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>代表 CiTech 赞助</p>
</div>

Compass Diversified (CODI) 第一季度亏损收窄，挑战市场对其盈利能力的看跌叙述