vs
美国铁塔（AMT）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铁塔的1.5倍（$4.2B vs $2.7B），美国铁塔净利率更高（110.1% vs 7.8%，领先102.3%），美国铁塔自由现金流更多（$941.0M vs $452.0M），过去两年美国铁塔的营收复合增速更高（3.7% vs 3.1%）
美国铁塔是全球规模最大的房地产投资信托基金（REIT）之一，作为领先的独立多租户通信地产持有、运营及开发商，目前在全球范围内拥有约21.9万个通信站点，为全球通信产业提供可靠的基础设施支持。
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。
AMT vs LDOS — 直观对比
营收规模更大
LDOS
是对方的1.5倍
$2.7B
净利率更高
AMT
高出102.3%
7.8%
自由现金流更多
AMT
多$489.0M
$452.0M
两年增速更快
AMT
近两年复合增速
3.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $4.2B |
| 净利润 | $3.0B | $327.0M |
| 毛利率 | — | 17.4% |
| 营业利润率 | 0.0% | 11.3% |
| 净利率 | 110.1% | 7.8% |
| 营收同比 | — | -3.5% |
| 净利润同比 | — | 15.1% |
| 每股收益（稀释后） | — | $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AMTLDOS
| Q1 26 | $2.7B | $4.2B | ||
| Q4 25 | $2.7B | $4.4B | ||
| Q3 25 | $2.7B | $4.2B | ||
| Q2 25 | $2.6B | $4.2B | ||
| Q1 25 | $2.6B | $4.3B | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.5B | $4.2B | ||
| Q2 24 | $2.5B | $4.1B |
净利润AMTLDOS
| Q1 26 | $3.0B | $327.0M | ||
| Q4 25 | $836.8M | $367.0M | ||
| Q3 25 | $912.6M | $391.0M | ||
| Q2 25 | $380.5M | $363.0M | ||
| Q1 25 | $498.6M | $284.0M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $-780.4M | $364.0M | ||
| Q2 24 | $908.4M | $322.0M |
毛利率AMTLDOS
| 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AMTLDOS
| Q1 26 | 0.0% | 11.3% | ||
| Q4 25 | 42.4% | 12.0% | ||
| Q3 25 | 45.4% | 13.5% | ||
| Q2 25 | 45.6% | 12.5% | ||
| Q1 25 | 48.9% | 9.7% | ||
| Q4 24 | 42.4% | — | ||
| Q3 24 | 45.2% | 12.4% | ||
| Q2 24 | 45.4% | 11.6% |
净利率AMTLDOS
| Q1 26 | 110.1% | 7.8% | ||
| Q4 25 | 30.6% | 8.2% | ||
| Q3 25 | 33.6% | 9.2% | ||
| Q2 25 | 14.5% | 8.6% | ||
| Q1 25 | 19.5% | 6.5% | ||
| Q4 24 | 48.3% | — | ||
| Q3 24 | -30.9% | 8.7% | ||
| Q2 24 | 35.7% | 7.8% |
每股收益（稀释后）AMTLDOS
| Q1 26 | — | $2.54 | ||
| Q4 25 | $1.76 | $2.82 | ||
| Q3 25 | $1.82 | $3.01 | ||
| Q2 25 | $0.78 | $2.77 | ||
| Q1 25 | $1.04 | $2.10 | ||
| Q4 24 | $2.63 | — | ||
| Q3 24 | $-1.69 | $2.68 | ||
| Q2 24 | $1.92 | $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 | — | $4.6B |
| 股东权益账面价值 | $10.2B | $4.9B |
| 总资产 | — | $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AMTLDOS
| Q1 26 | $1.6B | $1.1B | ||
| Q4 25 | $1.5B | $974.0M | ||
| Q3 25 | $2.0B | $930.0M | ||
| Q2 25 | $2.1B | $842.0M | ||
| Q1 25 | $2.1B | $943.0M | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.2B | $1.2B | ||
| Q2 24 | $2.2B | $823.0M |
总债务AMTLDOS
| Q1 26 | — | $4.6B | ||
| Q4 25 | $33.8B | $4.6B | ||
| Q3 25 | $34.9B | $5.0B | ||
| Q2 25 | $35.2B | $5.0B | ||
| Q1 25 | $34.0B | $4.1B | ||
| Q4 24 | $32.8B | — | ||
| Q3 24 | $33.4B | $4.1B | ||
| Q2 24 | $35.6B | $4.1B |
股东权益AMTLDOS
| Q1 26 | $10.2B | $4.9B | ||
| Q4 25 | $3.7B | $4.9B | ||
| Q3 25 | $4.0B | $4.7B | ||
| Q2 25 | $3.7B | $4.3B | ||
| Q1 25 | $3.5B | $4.4B | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | $3.6B | $4.6B | ||
| Q2 24 | $3.9B | $4.5B |
总资产AMTLDOS
| Q1 26 | — | $13.5B | ||
| Q4 25 | $63.2B | $13.5B | ||
| Q3 25 | $63.9B | $13.5B | ||
| Q2 25 | $63.8B | $13.2B | ||
| Q1 25 | $62.1B | $13.1B | ||
| Q4 24 | $61.1B | — | ||
| Q3 24 | $62.8B | $13.3B | ||
| Q2 24 | $65.8B | $12.9B |
负债/权益比AMTLDOS
| Q1 26 | — | 0.94× | ||
| Q4 25 | 9.26× | 0.94× | ||
| Q3 25 | 8.82× | 1.07× | ||
| Q2 25 | 9.48× | 1.18× | ||
| Q1 25 | 9.63× | 0.92× | ||
| Q4 24 | 9.70× | — | ||
| Q3 24 | 9.16× | 0.88× | ||
| Q2 24 | 9.24× | 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 | — | $495.0M |
| 自由现金流经营现金流 - 资本支出 | $941.0M | $452.0M |
| 自由现金流率自由现金流/营收 | 34.4% | 10.8% |
| 资本支出强度资本支出/营收 | 16.8% | 1.0% |
| 现金转化率经营现金流/净利润 | — | 1.51× |
| 过去12个月自由现金流最近4个季度 | $6.7B | — |
8季度趋势，按日历期对齐
经营现金流AMTLDOS
| Q1 26 | — | $495.0M | ||
| Q4 25 | $5.5B | — | ||
| Q3 25 | $1.5B | $711.0M | ||
| Q2 25 | $1.3B | $58.0M | ||
| Q1 25 | $1.3B | $299.0M | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $1.5B | $656.0M | ||
| Q2 24 | $1.3B | $374.0M |
自由现金流AMTLDOS
| Q1 26 | $941.0M | $452.0M | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $994.5M | $680.0M | ||
| Q2 25 | $976.9M | $36.0M | ||
| Q1 25 | $963.9M | $213.0M | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $1.0B | $633.0M | ||
| Q2 24 | $1.0B | $351.0M |
自由现金流率AMTLDOS
| Q1 26 | 34.4% | 10.8% | ||
| Q4 25 | 138.2% | — | ||
| Q3 25 | 36.6% | 16.1% | ||
| Q2 25 | 37.2% | 0.9% | ||
| Q1 25 | 37.6% | 4.9% | ||
| Q4 24 | 145.3% | — | ||
| Q3 24 | 41.4% | 15.2% | ||
| Q2 24 | 39.8% | 8.5% |
资本支出强度AMTLDOS
| Q1 26 | 16.8% | 1.0% | ||
| Q4 25 | 61.4% | — | ||
| Q3 25 | 17.1% | 0.7% | ||
| Q2 25 | 11.6% | 0.5% | ||
| Q1 25 | 12.9% | 2.0% | ||
| Q4 24 | 62.4% | — | ||
| Q3 24 | 16.8% | 0.6% | ||
| Q2 24 | 12.8% | 0.6% |
现金转化率AMTLDOS
| Q1 26 | — | 1.51× | ||
| Q4 25 | 6.53× | — | ||
| Q3 25 | 1.60× | 1.82× | ||
| Q2 25 | 3.37× | 0.16× | ||
| Q1 25 | 2.60× | 1.05× | ||
| Q4 24 | 4.30× | — | ||
| Q3 24 | — | 1.80× | ||
| Q2 24 | 1.47× | 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
AMT
暂无分部数据
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% |
