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APA Corporation（APA）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APA Corporation的1.9倍（$4.2B vs $2.2B），APA Corporation净利率更高（15.0% vs 7.8%，领先7.2%），Leidos同比增速更快（-3.5% vs -24.3%），过去两年Leidos的营收复合增速更高（3.1% vs 1.4%）
APA Corporation是美国能源企业阿帕奇公司的控股主体，主要从事碳氢化合物资源勘探相关业务，在特拉华州注册成立，总部位于得克萨斯州休斯敦，是北美地区拥有丰富项目经验的能源勘探运营企业。
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。
APA vs LDOS — 直观对比
营收规模更大
LDOS
是对方的1.9倍
$2.2B
营收增速更快
LDOS
高出20.8%
-24.3%
净利率更高
APA
高出7.2%
7.8%
两年增速更快
LDOS
近两年复合增速
1.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $4.2B |
| 净利润 | $331.0M | $327.0M |
| 毛利率 | — | 17.4% |
| 营业利润率 | 32.5% | 11.3% |
| 净利率 | 15.0% | 7.8% |
| 营收同比 | -24.3% | -3.5% |
| 净利润同比 | -22.1% | 15.1% |
| 每股收益（稀释后） | $0.79 | $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APALDOS
| Q1 26 | — | $4.2B | ||
| Q4 25 | $2.2B | $4.4B | ||
| Q3 25 | $2.3B | $4.2B | ||
| Q2 25 | $2.3B | $4.2B | ||
| Q1 25 | $2.7B | $4.3B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.7B | $4.2B | ||
| Q2 24 | $2.8B | $4.1B |
净利润APALDOS
| Q1 26 | — | $327.0M | ||
| Q4 25 | $331.0M | $367.0M | ||
| Q3 25 | $205.0M | $391.0M | ||
| Q2 25 | $603.0M | $363.0M | ||
| Q1 25 | $418.0M | $284.0M | ||
| Q4 24 | $425.0M | — | ||
| Q3 24 | $-223.0M | $364.0M | ||
| Q2 24 | $541.0M | $322.0M |
毛利率APALDOS
| 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APALDOS
| Q1 26 | — | 11.3% | ||
| Q4 25 | 32.5% | 12.0% | ||
| Q3 25 | 33.7% | 13.5% | ||
| Q2 25 | 31.8% | 12.5% | ||
| Q1 25 | 31.9% | 9.7% | ||
| Q4 24 | 31.4% | — | ||
| Q3 24 | -5.2% | 12.4% | ||
| Q2 24 | 34.4% | 11.6% |
净利率APALDOS
| Q1 26 | — | 7.8% | ||
| Q4 25 | 15.0% | 8.2% | ||
| Q3 25 | 9.0% | 9.2% | ||
| Q2 25 | 26.0% | 8.6% | ||
| Q1 25 | 15.4% | 6.5% | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | -8.1% | 8.7% | ||
| Q2 24 | 19.0% | 7.8% |
每股收益（稀释后）APALDOS
| Q1 26 | — | $2.54 | ||
| Q4 25 | $0.79 | $2.82 | ||
| Q3 25 | $0.57 | $3.01 | ||
| Q2 25 | $1.67 | $2.77 | ||
| Q1 25 | $0.96 | $2.10 | ||
| Q4 24 | $0.97 | — | ||
| Q3 24 | $-0.60 | $2.68 | ||
| Q2 24 | $1.46 | $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 | $516.0M | $1.1B |
| 总债务越低越好 | $4.3B | $4.6B |
| 股东权益账面价值 | $6.1B | $4.9B |
| 总资产 | $17.8B | $13.5B |
| 负债/权益比越低杠杆越低 | 0.70× | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资APALDOS
| Q1 26 | — | $1.1B | ||
| Q4 25 | $516.0M | $974.0M | ||
| Q3 25 | $475.0M | $930.0M | ||
| Q2 25 | $107.0M | $842.0M | ||
| Q1 25 | $67.0M | $943.0M | ||
| Q4 24 | $625.0M | — | ||
| Q3 24 | $64.0M | $1.2B | ||
| Q2 24 | $160.0M | $823.0M |
总债务APALDOS
| Q1 26 | — | $4.6B | ||
| Q4 25 | $4.3B | $4.6B | ||
| Q3 25 | $4.3B | $5.0B | ||
| Q2 25 | $4.3B | $5.0B | ||
| Q1 25 | $5.2B | $4.1B | ||
| Q4 24 | $6.0B | — | ||
| Q3 24 | $6.4B | $4.1B | ||
| Q2 24 | $6.7B | $4.1B |
股东权益APALDOS
| Q1 26 | — | $4.9B | ||
| Q4 25 | $6.1B | $4.9B | ||
| Q3 25 | $6.0B | $4.7B | ||
| Q2 25 | $5.9B | $4.3B | ||
| Q1 25 | $5.4B | $4.4B | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $5.1B | $4.6B | ||
| Q2 24 | $5.4B | $4.5B |
总资产APALDOS
| Q1 26 | — | $13.5B | ||
| Q4 25 | $17.8B | $13.5B | ||
| Q3 25 | $17.7B | $13.5B | ||
| Q2 25 | $18.1B | $13.2B | ||
| Q1 25 | $18.5B | $13.1B | ||
| Q4 24 | $19.4B | — | ||
| Q3 24 | $19.4B | $13.3B | ||
| Q2 24 | $20.2B | $12.9B |
负债/权益比APALDOS
| Q1 26 | — | 0.94× | ||
| Q4 25 | 0.70× | 0.94× | ||
| Q3 25 | 0.72× | 1.07× | ||
| Q2 25 | 0.73× | 1.18× | ||
| Q1 25 | 0.96× | 0.92× | ||
| Q4 24 | 1.13× | — | ||
| Q3 24 | 1.25× | 0.88× | ||
| Q2 24 | 1.24× | 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 | $808.0M | $495.0M |
| 自由现金流经营现金流 - 资本支出 | — | $452.0M |
| 自由现金流率自由现金流/营收 | — | 10.8% |
| 资本支出强度资本支出/营收 | — | 1.0% |
| 现金转化率经营现金流/净利润 | 2.44× | 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APALDOS
| Q1 26 | — | $495.0M | ||
| Q4 25 | $808.0M | — | ||
| Q3 25 | $1.5B | $711.0M | ||
| Q2 25 | $1.2B | $58.0M | ||
| Q1 25 | $1.1B | $299.0M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.3B | $656.0M | ||
| Q2 24 | $877.0M | $374.0M |
自由现金流APALDOS
| Q1 26 | — | $452.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $680.0M | ||
| Q2 25 | — | $36.0M | ||
| Q1 25 | — | $213.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $633.0M | ||
| Q2 24 | — | $351.0M |
自由现金流率APALDOS
| Q1 26 | — | 10.8% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 8.5% |
资本支出强度APALDOS
| Q1 26 | — | 1.0% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.6% |
现金转化率APALDOS
| Q1 26 | — | 1.51× | ||
| Q4 25 | 2.44× | — | ||
| Q3 25 | 7.12× | 1.82× | ||
| Q2 25 | 1.96× | 0.16× | ||
| Q1 25 | 2.62× | 1.05× | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | — | 1.80× | ||
| Q2 24 | 1.62× | 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
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
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% |
