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豪瑞（AMRZ）与Leidos（LDOS）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是豪瑞的1.1倍（$4.2B vs $3.7B），豪瑞净利率更高（14.8% vs 7.8%，领先7.0%），豪瑞同比增速更快（6.6% vs -3.5%），豪瑞自由现金流更多（$669.0M vs $452.0M）
豪瑞是总部位于瑞士的全球领先建筑材料及骨料供应商，为豪瑞集团旗下核心业务板块。原公司于2015年7月10日与拉法基合并组建拉法基豪瑞，2021年正式更名为豪瑞集团，合并完成后豪瑞品牌仍在集团内正常运营。
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。
AMRZ vs LDOS — 直观对比
营收规模更大
LDOS
是对方的1.1倍
$3.7B
营收增速更快
AMRZ
高出10.1%
-3.5%
净利率更高
AMRZ
高出7.0%
7.8%
自由现金流更多
AMRZ
多$217.0M
$452.0M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.7B | $4.2B |
| 净利润 | $545.0M | $327.0M |
| 毛利率 | 29.6% | 17.4% |
| 营业利润率 | 21.2% | 11.3% |
| 净利率 | 14.8% | 7.8% |
| 营收同比 | 6.6% | -3.5% |
| 净利润同比 | -1.4% | 15.1% |
| 每股收益（稀释后） | $0.98 | $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AMRZLDOS
| Q1 26 | — | $4.2B | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | $3.7B | $4.2B | ||
| Q2 25 | $3.2B | $4.2B | ||
| Q1 25 | — | $4.3B | ||
| Q3 24 | $3.4B | $4.2B | ||
| Q2 24 | $3.2B | $4.1B | ||
| Q1 24 | — | $4.0B |
净利润AMRZLDOS
| Q1 26 | — | $327.0M | ||
| Q4 25 | — | $367.0M | ||
| Q3 25 | $545.0M | $391.0M | ||
| Q2 25 | $429.0M | $363.0M | ||
| Q1 25 | — | $284.0M | ||
| Q3 24 | $553.0M | $364.0M | ||
| Q2 24 | $474.0M | $322.0M | ||
| Q1 24 | — | $284.0M |
毛利率AMRZLDOS
| Q1 26 | — | 17.4% | ||
| Q4 25 | — | 18.0% | ||
| Q3 25 | 29.6% | 18.0% | ||
| Q2 25 | 30.0% | 17.5% | ||
| Q1 25 | — | 15.6% | ||
| Q3 24 | 30.2% | 17.8% | ||
| Q2 24 | 30.2% | 16.6% | ||
| Q1 24 | — | 15.5% |
营业利润率AMRZLDOS
| Q1 26 | — | 11.3% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | 21.2% | 13.5% | ||
| Q2 25 | 20.8% | 12.5% | ||
| Q1 25 | — | 9.7% | ||
| Q3 24 | 24.5% | 12.4% | ||
| Q2 24 | 23.3% | 11.6% | ||
| Q1 24 | — | 10.5% |
净利率AMRZLDOS
| Q1 26 | — | 7.8% | ||
| Q4 25 | — | 8.2% | ||
| Q3 25 | 14.8% | 9.2% | ||
| Q2 25 | 13.3% | 8.6% | ||
| Q1 25 | — | 6.5% | ||
| Q3 24 | 16.0% | 8.7% | ||
| Q2 24 | 14.6% | 7.8% | ||
| Q1 24 | — | 7.2% |
每股收益（稀释后）AMRZLDOS
| Q1 26 | — | $2.54 | ||
| Q4 25 | — | $2.82 | ||
| Q3 25 | $0.98 | $3.01 | ||
| Q2 25 | $0.78 | $2.77 | ||
| Q1 25 | — | $2.10 | ||
| Q3 24 | $1.00 | $2.68 | ||
| Q2 24 | $0.86 | $2.37 | ||
| Q1 24 | — | $2.07 |
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 | $826.0M | $1.1B |
| 总债务越低越好 | — | $4.6B |
| 股东权益账面价值 | $12.9B | $4.9B |
| 总资产 | $24.0B | $13.5B |
| 负债/权益比越低杠杆越低 | — | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资AMRZLDOS
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | $974.0M | ||
| Q3 25 | $826.0M | $930.0M | ||
| Q2 25 | $601.0M | $842.0M | ||
| Q1 25 | — | $943.0M | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $823.0M | ||
| Q1 24 | — | $633.0M |
总债务AMRZLDOS
| Q1 26 | — | $4.6B | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $5.0B | ||
| Q1 25 | — | $4.1B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.6B |
股东权益AMRZLDOS
| Q1 26 | — | $4.9B | ||
| Q4 25 | — | $4.9B | ||
| Q3 25 | $12.9B | $4.7B | ||
| Q2 25 | $12.4B | $4.3B | ||
| Q1 25 | — | $4.4B | ||
| Q3 24 | $9.8B | $4.6B | ||
| Q2 24 | $9.3B | $4.5B | ||
| Q1 24 | — | $4.3B |
总资产AMRZLDOS
| Q1 26 | — | $13.5B | ||
| Q4 25 | — | $13.5B | ||
| Q3 25 | $24.0B | $13.5B | ||
| Q2 25 | $23.8B | $13.2B | ||
| Q1 25 | — | $13.1B | ||
| Q3 24 | — | $13.3B | ||
| Q2 24 | — | $12.9B | ||
| Q1 24 | — | $12.8B |
负债/权益比AMRZLDOS
| Q1 26 | — | 0.94× | ||
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 1.18× | ||
| Q1 25 | — | 0.92× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.92× | ||
| Q1 24 | — | 1.09× |
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 | $854.0M | $495.0M |
| 自由现金流经营现金流 - 资本支出 | $669.0M | $452.0M |
| 自由现金流率自由现金流/营收 | 18.2% | 10.8% |
| 资本支出强度资本支出/营收 | 5.0% | 1.0% |
| 现金转化率经营现金流/净利润 | 1.57× | 1.51× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AMRZLDOS
| Q1 26 | — | $495.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | $854.0M | $711.0M | ||
| Q2 25 | — | $58.0M | ||
| Q1 25 | — | $299.0M | ||
| Q3 24 | — | $656.0M | ||
| Q2 24 | — | $374.0M | ||
| Q1 24 | — | $63.0M |
自由现金流AMRZLDOS
| Q1 26 | — | $452.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | $669.0M | $680.0M | ||
| Q2 25 | — | $36.0M | ||
| Q1 25 | — | $213.0M | ||
| Q3 24 | — | $633.0M | ||
| Q2 24 | — | $351.0M | ||
| Q1 24 | — | $46.0M |
自由现金流率AMRZLDOS
| Q1 26 | — | 10.8% | ||
| Q4 25 | — | — | ||
| Q3 25 | 18.2% | 16.1% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 4.9% | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 8.5% | ||
| Q1 24 | — | 1.2% |
资本支出强度AMRZLDOS
| Q1 26 | — | 1.0% | ||
| Q4 25 | — | — | ||
| Q3 25 | 5.0% | 0.7% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 2.0% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.4% |
现金转化率AMRZLDOS
| Q1 26 | — | 1.51× | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.57× | 1.82× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 1.05× | ||
| Q3 24 | — | 1.80× | ||
| Q2 24 | — | 1.16× | ||
| Q1 24 | — | 0.22× |
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
AMRZ
| Building Materials | $2.8B | 75% |
| Building Envelope | $901.0M | 25% |
| Equity Method Investee | $5.0M | 0% |
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% |
