vs
美国铝业公司（AA）与Leidos（LDOS）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是美国铝业公司的1.2倍（$4.2B vs $3.4B），Leidos净利率更高（7.8% vs 6.2%，领先1.6%），美国铝业公司同比增速更快（-1.1% vs -3.5%），Leidos自由现金流更多（$452.0M vs $294.0M），过去两年美国铝业公司的营收复合增速更高（15.2% vs 3.1%）
美国铝业公司是美国大型工业企业，为全球规模领先的铝生产商之一，业务布局覆盖10个国家，涵盖铝土矿开采、氧化铝精炼、原铝冶炼、铝制品加工及铝回收利用全产业链，产品广泛应用于全球各工业领域。
Leidos Holdings, Inc.是总部位于美国弗吉尼亚州雷斯顿的企业，业务覆盖国防、航空、信息技术、生物医学研究领域，提供科研、工程、系统集成及技术服务。其前身为科学应用国际公司（SAIC），2016年8月与洛克希德·马丁旗下IT业务板块合并，成为国防行业规模最大的IT服务提供商。
AA vs LDOS — 直观对比
营收规模更大
LDOS
是对方的1.2倍
$3.4B
营收增速更快
AA
高出2.4%
-3.5%
净利率更高
LDOS
高出1.6%
6.2%
自由现金流更多
LDOS
多$158.0M
$294.0M
两年增速更快
AA
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $4.2B |
| 净利润 | $213.0M | $327.0M |
| 毛利率 | — | 17.4% |
| 营业利润率 | 2.0% | 11.3% |
| 净利率 | 6.2% | 7.8% |
| 营收同比 | -1.1% | -3.5% |
| 净利润同比 | 5.4% | 15.1% |
| 每股收益（稀释后） | $0.80 | $2.54 |
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AALDOS
| Q1 26 | — | $4.2B | ||
| Q4 25 | $3.4B | $4.4B | ||
| Q3 25 | $3.0B | $4.2B | ||
| Q2 25 | $3.0B | $4.2B | ||
| Q1 25 | $3.4B | $4.3B | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | $2.9B | $4.2B | ||
| Q2 24 | $2.9B | $4.1B |
净利润AALDOS
| Q1 26 | — | $327.0M | ||
| Q4 25 | $213.0M | $367.0M | ||
| Q3 25 | $232.0M | $391.0M | ||
| Q2 25 | $164.0M | $363.0M | ||
| Q1 25 | $548.0M | $284.0M | ||
| Q4 24 | $202.0M | — | ||
| Q3 24 | $90.0M | $364.0M | ||
| Q2 24 | $20.0M | $322.0M |
毛利率AALDOS
| Q1 26 | — | 17.4% | ||
| Q4 25 | — | 18.0% | ||
| Q3 25 | — | 18.0% | ||
| Q2 25 | — | 17.5% | ||
| Q1 25 | — | 15.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | 16.6% |
营业利润率AALDOS
| Q1 26 | — | 11.3% | ||
| Q4 25 | 2.0% | 12.0% | ||
| Q3 25 | 5.6% | 13.5% | ||
| Q2 25 | 5.3% | 12.5% | ||
| Q1 25 | 19.8% | 9.7% | ||
| Q4 24 | 9.7% | — | ||
| Q3 24 | 6.3% | 12.4% | ||
| Q2 24 | 3.2% | 11.6% |
净利率AALDOS
| Q1 26 | — | 7.8% | ||
| Q4 25 | 6.2% | 8.2% | ||
| Q3 25 | 7.7% | 9.2% | ||
| Q2 25 | 5.4% | 8.6% | ||
| Q1 25 | 16.3% | 6.5% | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 3.1% | 8.7% | ||
| Q2 24 | 0.7% | 7.8% |
每股收益（稀释后）AALDOS
| Q1 26 | — | $2.54 | ||
| Q4 25 | $0.80 | $2.82 | ||
| Q3 25 | $0.88 | $3.01 | ||
| Q2 25 | $0.62 | $2.77 | ||
| Q1 25 | $2.07 | $2.10 | ||
| Q4 24 | $1.18 | — | ||
| Q3 24 | $0.38 | $2.68 | ||
| Q2 24 | $0.11 | $2.37 |
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 | $1.6B | $1.1B |
| 总债务越低越好 | $2.4B | $4.6B |
| 股东权益账面价值 | $6.1B | $4.9B |
| 总资产 | $16.1B | $13.5B |
| 负债/权益比越低杠杆越低 | 0.40× | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资AALDOS
| Q1 26 | — | $1.1B | ||
| Q4 25 | $1.6B | $974.0M | ||
| Q3 25 | $1.5B | $930.0M | ||
| Q2 25 | $1.5B | $842.0M | ||
| Q1 25 | $1.2B | $943.0M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.4B | $823.0M |
总债务AALDOS
| Q1 26 | — | $4.6B | ||
| Q4 25 | $2.4B | $4.6B | ||
| Q3 25 | $2.6B | $5.0B | ||
| Q2 25 | $2.6B | $5.0B | ||
| Q1 25 | $2.6B | $4.1B | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.5B | $4.1B | ||
| Q2 24 | $2.5B | $4.1B |
股东权益AALDOS
| Q1 26 | — | $4.9B | ||
| Q4 25 | $6.1B | $4.9B | ||
| Q3 25 | $6.3B | $4.7B | ||
| Q2 25 | $6.1B | $4.3B | ||
| Q1 25 | $5.8B | $4.4B | ||
| Q4 24 | $5.2B | — | ||
| Q3 24 | $5.3B | $4.6B | ||
| Q2 24 | $3.9B | $4.5B |
总资产AALDOS
| Q1 26 | — | $13.5B | ||
| Q4 25 | $16.1B | $13.5B | ||
| Q3 25 | $16.0B | $13.5B | ||
| Q2 25 | $15.0B | $13.2B | ||
| Q1 25 | $14.6B | $13.1B | ||
| Q4 24 | $14.1B | — | ||
| Q3 24 | $14.5B | $13.3B | ||
| Q2 24 | $14.3B | $12.9B |
负债/权益比AALDOS
| Q1 26 | — | 0.94× | ||
| Q4 25 | 0.40× | 0.94× | ||
| Q3 25 | 0.41× | 1.07× | ||
| Q2 25 | 0.42× | 1.18× | ||
| Q1 25 | 0.44× | 0.92× | ||
| Q4 24 | 0.48× | — | ||
| Q3 24 | 0.47× | 0.88× | ||
| Q2 24 | 0.63× | 0.92× |
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 | $537.0M | $495.0M |
| 自由现金流经营现金流 - 资本支出 | $294.0M | $452.0M |
| 自由现金流率自由现金流/营收 | 8.5% | 10.8% |
| 资本支出强度资本支出/营收 | 7.0% | 1.0% |
| 现金转化率经营现金流/净利润 | 2.52× | 1.51× |
| 过去12个月自由现金流最近4个季度 | $567.0M | — |
8季度趋势，按日历期对齐
经营现金流AALDOS
| Q1 26 | — | $495.0M | ||
| Q4 25 | $537.0M | — | ||
| Q3 25 | $85.0M | $711.0M | ||
| Q2 25 | $488.0M | $58.0M | ||
| Q1 25 | $75.0M | $299.0M | ||
| Q4 24 | $415.0M | — | ||
| Q3 24 | $143.0M | $656.0M | ||
| Q2 24 | $287.0M | $374.0M |
自由现金流AALDOS
| Q1 26 | — | $452.0M | ||
| Q4 25 | $294.0M | — | ||
| Q3 25 | $-66.0M | $680.0M | ||
| Q2 25 | $357.0M | $36.0M | ||
| Q1 25 | $-18.0M | $213.0M | ||
| Q4 24 | $246.0M | — | ||
| Q3 24 | $-3.0M | $633.0M | ||
| Q2 24 | $123.0M | $351.0M |
自由现金流率AALDOS
| Q1 26 | — | 10.8% | ||
| Q4 25 | 8.5% | — | ||
| Q3 25 | -2.2% | 16.1% | ||
| Q2 25 | 11.8% | 0.9% | ||
| Q1 25 | -0.5% | 4.9% | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | -0.1% | 15.2% | ||
| Q2 24 | 4.2% | 8.5% |
资本支出强度AALDOS
| Q1 26 | — | 1.0% | ||
| Q4 25 | 7.0% | — | ||
| Q3 25 | 5.0% | 0.7% | ||
| Q2 25 | 4.3% | 0.5% | ||
| Q1 25 | 2.8% | 2.0% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 5.0% | 0.6% | ||
| Q2 24 | 5.6% | 0.6% |
现金转化率AALDOS
| Q1 26 | — | 1.51× | ||
| Q4 25 | 2.52× | — | ||
| Q3 25 | 0.37× | 1.82× | ||
| Q2 25 | 2.98× | 0.16× | ||
| Q1 25 | 0.14× | 1.05× | ||
| Q4 24 | 2.05× | — | ||
| Q3 24 | 1.59× | 1.80× | ||
| Q2 24 | 14.35× | 1.16× |
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
AA
| Aluminum | $2.5B | 72% |
| Third Party Sales | $979.0M | 28% |
LDOS
| US Do D And US Intelligence Community | $1.4B | 32% |
| Cost Reimbursement And Fixed Price Incentive Fee | $1.0B | 24% |
| Commercial And International Segment | $609.0M | 15% |
| Defense Systems Segment | $546.0M | 13% |
| Other | $358.0M | 9% |
| Time And Materials And Fixed Price Level Of Effort | $295.0M | 7% |
| Commercial And Non US Customers | $38.0M | 1% |
