Cerebras Systems Inc. (CBRS)财务
NASDAQ · Technology · Semiconductors · 员工708人 · CEO Andrew D. Feldman
- 股价
- $109.18 -5.19%
- 市值
- $247亿
- 企业价值
- $188亿
- 最近财报
- Q2 '26 2026-08-12提交
- 下次财报
- 2026-11-12
营收(TTM)$6.81亿+90.8% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-81.2%-40.4 百分点 对比去年同期营业利润 -$5.52亿
净利润(TTM)-$5.12亿-296.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)–– 对比去年同期资本支出 –
稀释EPS(TTM)-$3.26-443.6% 对比去年同期最近4个季度之和
净现金$71.2亿– 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $247亿 EV $188亿
- 营收
- $6.81亿 过去12个月
- 营收增速
- +74% FY2026年一致预期
- 净利润率
- -75.3% 净利润 / 营收,TTM
- P/E
- -33.5× 预期 -210.0×(FY2026)
- P/S
- 36.3× 股价 / 营收,TTM
- EV / EBITDA
- -39.9× TTM
- 自由现金流
- – 过去12个月
- 净利润
- -$5.12亿 过去12个月
- 营收预期
- $8.85亿 FY2026年一致预期
- 盈利
- 2026-11-12
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 营收增长放缓:同比74.3%Q2 '26营收$1.8亿,此前四个季度的平均值为85.9%。
- 营业利润率-81.2%(TTM),较去年同期-40.4 百分点营收增长90.8%,营业利润增长-280.3%。
- 稀释股数一年内减少29.9%Q2 '26稀释股数1.51亿,一年前为2.15亿。
- 净现金 $71.2亿现金 + 短期投资 $86.1亿,含租赁债务 $14.9亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $1.8亿 | $1.03亿 | +74.3% |
| 毛利率 | 14.2% | 31.1% | -16.9 百分点 |
| 营业利润 | -$4.77亿 | -$5720万 | -734.6% |
| 营业利润率 | -265.0% | -55.3% | -209.6 百分点 |
| 净利润 | -$4.51亿 | $3.1亿 | -245.6% |
| 稀释EPS | -$2.98 | $1.44 | -306.9% |
| 经营现金流 | -$5980万 | -$6890万 | +13.2% |
| 资本支出 | $4.17亿 | $8690万 | +380.0% |
| 自由现金流 | -$4.77亿 | -$1.56亿 | -206.1% |
| R&D | $3.2亿 | $0 | – |
| 股权激励费用 | $3.77亿 | $1330万 | +2,738.7% |
营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Service | $1.26亿 | – | 70.0% | – | – | |
| Product | $5410万 | – | 30.0% | – | – |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| EMEA | $9570万 | – | 53.2% | – | – | |
| United States | $8400万 | – | 46.6% | – | – | |
| Other Geographic Areas | $38.4万 | – | 0.2% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 自由现金流
- –
- 股东回报 / FCF
- –
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -33.5× | 758.7× 4年中的1年 | 758.7× – 758.7× |
| EV / EBITDA | -39.9× | 375.6× 4年中的1年 | 375.6× – 375.6× |
| EV / 营收 | 27.6× | 1,546.0× | 205.7× – 4,278.4× |
| 股价 / FCF | -32.9× | 156.2× 4年中的1年 | 156.2× – 156.2× |
| 股价 / 净资产 | 1.8× | – | – |
| FCF收益率 | -3.0% | -0.1% | -0.6% – 0.6% |
| 投入资本回报率 | -5.1% | 9.9% | -78.2% – 195.1% |
| 净资产收益率 | -11.6% | 17.4% | -41.1% – 49.8% |
分析师
一致目标价 $300.50 (+175.2%)
区间 $279.00 – $330.00 · 评级 Buy
强烈买入0
买入9
持有0
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $8.85亿 | +73.6% | -$0.52 | -226.8% | -210.0× | 6 |
| FY2027 | $29.3亿 | +231.0% | $1.24 | +338.5% | 88.0× | 6 |
| FY2028 | $75.4亿 | +157.5% | $7.97 | +542.8% | 13.7× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Cerebras Systems Inc.在近期10-Q / 10-K文件中标记的全部145项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $8830万 | – | – | – | – | – |
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.23亿 | – | – | – | – | – |
| Accrued Liabilities, Current | $2.37亿 | – | – | – | – | – |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $9100万 | – | – | – | – | – |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $577万 | – | – | – | – | – |
| Additional Paid in Capital | $105亿 | – | – | – | – | – |
| Adjustments to Additional Paid in Capital, Other | $32.9万2026-03-31 | $15万 | +119.3% | – | – | – |
| Adjustments to Additional Paid in Capital, Warrant Issued | $6.57亿 | – | – | – | – | – |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | -1.06亿 | -1.19亿 | +11.0% | – | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $3.77亿 | $1300万 | +2,789.2% | – | – | – |
| Assets | $116亿 | – | – | – | – | – |
| Assets, Current | $91.2亿 | – | – | – | – | – |
| Capital Expenditures Incurred but Not yet Paid | $2180万 | $387万 | +464.1% | – | – | – |
| Cash and Cash Equivalents, at Carrying Value | $67.4亿 | – | – | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $74.3亿 | $3.77亿 | +1,870.6% | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $46.8亿 | -$9510万 | +5,021.5% | – | – | – |
| Common Stock, Shares Authorized | 1亿2026-05-15 | – | – | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$4.48亿 | $3.1亿 | -244.8% | – | – | – |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $480万 | – | – | – | – | – |
| Contract with Customer, Liability, Current | $1.74亿 | – | – | – | – | – |
| Contract with Customer, Liability, Noncurrent | $2.45亿 | – | – | – | – | – |
| Contract with Customer, Liability, Revenue Recognized | $3750万 | $1070万 | +250.5% | – | – | – |
| Cost of Revenue | $1.55亿 | $7120万 | +117.0% | – | – | – |
| Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss | $0 | – | – | – | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $562万 | – | – | – | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $0 | – | – | – | – | – |
| Debt Securities, Available-for-sale, Amortized Cost, Current | $11.7亿 | – | – | – | – | – |
| Debt Securities, Available-for-sale, Current | $11.8亿 | – | – | – | – | – |
| Debt, Current | $6.21亿2026-03-31 | – | – | – | – | – |
| Depreciation | $2440万 | $560万 | +335.3% | – | – | – |
| Depreciation, Depletion and Amortization | $2440万 | $540万 | +351.1% | – | – | – |
| Earnings Per Share, Basic | -$2.98 | $2.28 | -230.7% | – | – | – |
| Earnings Per Share, Diluted | -$2.98 | $1.91 | -256.0% | – | – | – |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | -$27.3万 | $73.2万 | -137.3% | – | – | – |
| Effective Income Tax Rate Reconciliation, Percent | -0.1% | 0.5% | -120.0% | – | – | – |
| Employee-related Liabilities, Current | $4860万 | – | – | – | – | – |
| General and Administrative Expense | $9570万 | $1030万 | +830.2% | – | – | – |
| Gross Profit | $2560万 | $3210万 | -20.4% | – | – | – |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | -$4.5亿 | $3.11亿 | -244.7% | – | – | – |
| Income Tax Expense (Benefit) | $27.4万 | $166万 | -83.5% | – | – | – |
| Income Taxes Paid, Net | $933万 | $136万 | +584.3% | – | – | – |
| Income Taxes Receivable, Current | $2150万 | – | – | – | – | – |
| Increase (Decrease) in Accounts Payable | $1060万 | $1200万 | -11.1% | – | – | – |
| Increase (Decrease) in Accounts Receivable | $6070万 | -$6870万 | +188.4% | – | – | – |
| Increase (Decrease) in Contract with Customer, Liability | $8970万 | $147万 | +6,000.1% | – | – | – |
| Increase (Decrease) in Inventories | -$5280万 | -$2120万 | -149.3% | – | – | – |
| Increase (Decrease) in Other Operating Liabilities | $5750万 | $2370万 | +142.8% | – | – | – |
| Increase (Decrease) in Prepaid Expense and Other Assets | $1.25亿 | $669万 | +1,763.8% | – | – | – |
| Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants | 0 | 2620万 | -100.0% | – | – | – |
| Inventory Valuation Reserves | $2010万 | – | – | – | – | – |
| Inventory Write-down | $1180万 | $50万 | +2,260.0% | – | – | – |
| Inventory, Finished Goods, Net of Reserves | $2580万 | – | – | – | – | – |
| Inventory, Net | $3270万 | – | – | – | – | – |
| Inventory, Raw Materials, Net of Reserves | $609万 | – | – | – | – | – |
| Inventory, Work in Process, Net of Reserves | $75.3万 | – | – | – | – | – |
| Investment Income, Interest and Dividend | $4880万 | $534万 | +815.1% | – | – | – |
| Lease, Cost | $7170万 | $2590万 | +176.4% | – | – | – |
| Lessee, Operating Lease, Liability, to be Paid | $6.9亿 | – | – | – | – | – |
| Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year | $5820万 | – | – | – | – | – |
| Lessee, Operating Lease, Liability, to be Paid, Year Four | $1.23亿 | – | – | – | – | – |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31
数据截至 2026-11-02