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APPLIED INDUSTRIAL TECHNOLOGIES INC（AIT）与林肯电气（LECO）财务数据对比。点击上方公司名可切换其他公司
APPLIED INDUSTRIAL TECHNOLOGIES INC的季度营收约是林肯电气的1.1倍（$1.2B vs $1.1B），林肯电气净利率更高（12.6% vs 8.2%，领先4.4%），APPLIED INDUSTRIAL TECHNOLOGIES INC同比增速更快（8.4% vs 5.5%），APPLIED INDUSTRIAL TECHNOLOGIES INC自由现金流更多（$93.4M vs $52.0M），过去两年林肯电气的营收复合增速更高（4.9% vs 0.7%）
AIT（Applied Industrial Technologies Inc）是总部位于美国的全球化上市工业企业，主营轴承、动力传动产品、工程级流体动力组件及系统、特种流量控制产品等工业用品分销，同时为工业及流体动力应用场景提供工程设计、系统集成及定制化配套服务。
林肯电气是美国跨国焊接产品制造企业，总部位于俄亥俄州欧几里得市，主营弧焊设备、焊接配件、等离子及氧燃料切割设备、焊接机器人系统等，业务覆盖160余个国家和地区，在全球设有42个生产基地，同时在19个国家布局了生产联盟及合资企业。
AIT vs LECO — 直观对比
营收规模更大
AIT
是对方的1.1倍
$1.1B
营收增速更快
AIT
高出2.8%
5.5%
净利率更高
LECO
高出4.4%
8.2%
自由现金流更多
AIT
多$41.4M
$52.0M
两年增速更快
LECO
近两年复合增速
0.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.1B |
| 净利润 | $95.3M | $136.0M |
| 毛利率 | 30.4% | 34.7% |
| 营业利润率 | 10.6% | 17.1% |
| 净利率 | 8.2% | 12.6% |
| 营收同比 | 8.4% | 5.5% |
| 净利润同比 | 2.2% | -3.0% |
| 每股收益（稀释后） | $2.51 | $2.45 |
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AITLECO
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $1.1B | $983.8M | ||
| Q2 24 | $1.2B | $1.0B | ||
| Q1 24 | $1.1B | $981.2M |
净利润AITLECO
| Q4 25 | $95.3M | $136.0M | ||
| Q3 25 | $100.8M | $122.6M | ||
| Q2 25 | $107.8M | $143.4M | ||
| Q1 25 | $99.8M | $118.5M | ||
| Q4 24 | $93.3M | $140.2M | ||
| Q3 24 | $92.1M | $100.8M | ||
| Q2 24 | $103.5M | $101.7M | ||
| Q1 24 | $97.2M | $123.4M |
毛利率AITLECO
| Q4 25 | 30.4% | 34.7% | ||
| Q3 25 | 30.1% | 36.7% | ||
| Q2 25 | 30.6% | 37.3% | ||
| Q1 25 | 30.5% | 36.4% | ||
| Q4 24 | 30.6% | 36.1% | ||
| Q3 24 | 29.6% | 35.8% | ||
| Q2 24 | 30.7% | 37.6% | ||
| Q1 24 | 29.5% | 37.5% |
营业利润率AITLECO
| Q4 25 | 10.6% | 17.1% | ||
| Q3 25 | 10.8% | 16.6% | ||
| Q2 25 | 11.0% | 17.6% | ||
| Q1 25 | 11.1% | 16.4% | ||
| Q4 24 | 11.3% | 17.3% | ||
| Q3 24 | 10.3% | 14.8% | ||
| Q2 24 | 12.0% | 14.6% | ||
| Q1 24 | 10.6% | 16.8% |
净利率AITLECO
| Q4 25 | 8.2% | 12.6% | ||
| Q3 25 | 8.4% | 11.6% | ||
| Q2 25 | 8.8% | 13.2% | ||
| Q1 25 | 8.6% | 11.8% | ||
| Q4 24 | 8.7% | 13.7% | ||
| Q3 24 | 8.4% | 10.2% | ||
| Q2 24 | 8.9% | 10.0% | ||
| Q1 24 | 8.5% | 12.6% |
每股收益（稀释后）AITLECO
| Q4 25 | $2.51 | $2.45 | ||
| Q3 25 | $2.63 | $2.21 | ||
| Q2 25 | $2.80 | $2.56 | ||
| Q1 25 | $2.57 | $2.10 | ||
| Q4 24 | $2.39 | $2.47 | ||
| Q3 24 | $2.36 | $1.77 | ||
| Q2 24 | $2.64 | $1.77 | ||
| Q1 24 | $2.48 | $2.14 |
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 | $406.0M | $308.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.9B | $1.5B |
| 总资产 | $3.2B | $3.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AITLECO
| Q4 25 | $406.0M | $308.8M | ||
| Q3 25 | $418.7M | $293.0M | ||
| Q2 25 | $388.4M | $299.5M | ||
| Q1 25 | $352.8M | $394.7M | ||
| Q4 24 | $303.4M | $377.3M | ||
| Q3 24 | $538.5M | $404.2M | ||
| Q2 24 | $460.6M | $272.7M | ||
| Q1 24 | $456.5M | $375.0M |
股东权益AITLECO
| Q4 25 | $1.9B | $1.5B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $1.8B | $1.4B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.7B | $1.3B | ||
| Q1 24 | $1.7B | $1.3B |
总资产AITLECO
| Q4 25 | $3.2B | $3.8B | ||
| Q3 25 | $3.2B | $3.8B | ||
| Q2 25 | $3.2B | $3.7B | ||
| Q1 25 | $3.1B | $3.6B | ||
| Q4 24 | $3.0B | $3.5B | ||
| Q3 24 | $3.0B | $3.7B | ||
| Q2 24 | $3.0B | $3.4B | ||
| Q1 24 | $2.9B | $3.4B |
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 | $99.7M | $95.0M |
| 自由现金流经营现金流 - 资本支出 | $93.4M | $52.0M |
| 自由现金流率自由现金流/营收 | 8.0% | 4.8% |
| 资本支出强度资本支出/营收 | 0.5% | 4.0% |
| 现金转化率经营现金流/净利润 | 1.05× | 0.70× |
| 过去12个月自由现金流最近4个季度 | $458.5M | $534.2M |
8季度趋势，按日历期对齐
经营现金流AITLECO
| Q4 25 | $99.7M | $95.0M | ||
| Q3 25 | $119.3M | $236.7M | ||
| Q2 25 | $147.0M | $143.8M | ||
| Q1 25 | $122.5M | $185.7M | ||
| Q4 24 | $95.1M | $95.8M | ||
| Q3 24 | $127.7M | $199.2M | ||
| Q2 24 | $119.2M | $170.7M | ||
| Q1 24 | $84.2M | $133.3M |
自由现金流AITLECO
| Q4 25 | $93.4M | $52.0M | ||
| Q3 25 | $112.0M | $205.1M | ||
| Q2 25 | $138.2M | $118.4M | ||
| Q1 25 | $114.9M | $158.7M | ||
| Q4 24 | $89.9M | $64.3M | ||
| Q3 24 | $122.2M | $163.5M | ||
| Q2 24 | $111.7M | $147.5M | ||
| Q1 24 | $76.7M | $107.0M |
自由现金流率AITLECO
| Q4 25 | 8.0% | 4.8% | ||
| Q3 25 | 9.3% | 19.3% | ||
| Q2 25 | 11.3% | 10.9% | ||
| Q1 25 | 9.8% | 15.8% | ||
| Q4 24 | 8.4% | 6.3% | ||
| Q3 24 | 11.1% | 16.6% | ||
| Q2 24 | 9.6% | 14.4% | ||
| Q1 24 | 6.7% | 10.9% |
资本支出强度AITLECO
| Q4 25 | 0.5% | 4.0% | ||
| Q3 25 | 0.6% | 3.0% | ||
| Q2 25 | 0.7% | 2.3% | ||
| Q1 25 | 0.6% | 2.7% | ||
| Q4 24 | 0.5% | 3.1% | ||
| Q3 24 | 0.5% | 3.6% | ||
| Q2 24 | 0.6% | 2.3% | ||
| Q1 24 | 0.7% | 2.7% |
现金转化率AITLECO
| Q4 25 | 1.05× | 0.70× | ||
| Q3 25 | 1.18× | 1.93× | ||
| Q2 25 | 1.36× | 1.00× | ||
| Q1 25 | 1.23× | 1.57× | ||
| Q4 24 | 1.02× | 0.68× | ||
| Q3 24 | 1.39× | 1.98× | ||
| Q2 24 | 1.15× | 1.68× | ||
| Q1 24 | 0.87× | 1.08× |
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
AIT
| Service Center Based Distribution Segment | $625.2M | 54% |
| Engineered Solutions Segment | $398.9M | 34% |
| Other | $75.8M | 7% |
| Hydradyne LLC | $63.1M | 5% |
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
