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波音（BA）与高盛（GS）财务数据对比。点击上方公司名可切换其他公司
波音的季度营收约是高盛的1.7倍（$22.2B vs $13.5B），高盛净利率更高（34.3% vs -0.0%，领先34.3%），波音自由现金流更多（$-1.5B vs $-16.8B）
波音公司是美国跨国航空航天企业，1916年成立，业务覆盖民用飞机、旋翼机、火箭、卫星、导弹的设计、制造与全球销售，同时提供租赁及产品配套支持服务。作为全球头部航空航天制造商，按2022年营收计为全球第四大国防承包商，也是美国按金额计算的最大出口企业。
高盛集团是美国跨国投资银行及金融服务提供商，创立于1869年，总部位于纽约市曼哈顿下城，在全球多个国际金融中心设有区域总部。按营收计算，高盛是全球规模最大的投资银行之一，位列美国《财富》500强总营收榜单第55位。
BA vs GS — 直观对比
营收规模更大
BA
是对方的1.7倍
$13.5B
净利率更高
GS
高出34.3%
-0.0%
自由现金流更多
BA
多$15.4B
$-16.8B
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $22.2B | $13.5B |
| 净利润 | $-7.0M | $4.6B |
| 毛利率 | — | — |
| 营业利润率 | 2.0% | 43.5% |
| 净利率 | -0.0% | 34.3% |
| 营收同比 | 14.0% | — |
| 净利润同比 | 77.4% | — |
| 每股收益（稀释后） | $-0.11 | $14.04 |
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BAGS
| Q1 26 | $22.2B | — | ||
| Q4 25 | $23.9B | $13.5B | ||
| Q3 25 | $23.3B | $15.2B | ||
| Q2 25 | $22.7B | $14.6B | ||
| Q1 25 | $19.5B | $15.1B | ||
| Q4 24 | $15.2B | — | ||
| Q3 24 | $17.8B | $12.7B | ||
| Q2 24 | $16.9B | $12.7B |
净利润BAGS
| Q1 26 | $-7.0M | — | ||
| Q4 25 | $8.2B | $4.6B | ||
| Q3 25 | $-5.3B | $4.1B | ||
| Q2 25 | $-611.0M | $3.7B | ||
| Q1 25 | $-37.0M | $4.7B | ||
| Q4 24 | $-3.9B | — | ||
| Q3 24 | $-6.2B | $3.0B | ||
| Q2 24 | $-1.4B | $3.0B |
毛利率BAGS
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | — | ||
| Q3 25 | -10.2% | — | ||
| Q2 25 | 10.7% | — | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | -10.4% | — | ||
| Q3 24 | -19.7% | — | ||
| Q2 24 | 7.3% | — |
营业利润率BAGS
| Q1 26 | 2.0% | — | ||
| Q4 25 | 36.7% | 43.5% | ||
| Q3 25 | -20.5% | 35.5% | ||
| Q2 25 | -0.8% | 34.0% | ||
| Q1 25 | 2.4% | 37.5% | ||
| Q4 24 | -24.7% | — | ||
| Q3 24 | -32.3% | 31.4% | ||
| Q2 24 | -6.5% | 30.8% |
净利率BAGS
| Q1 26 | -0.0% | — | ||
| Q4 25 | 34.3% | 34.3% | ||
| Q3 25 | -22.9% | 27.0% | ||
| Q2 25 | -2.7% | 25.5% | ||
| Q1 25 | -0.2% | 31.5% | ||
| Q4 24 | -25.4% | — | ||
| Q3 24 | -34.6% | 23.5% | ||
| Q2 24 | -8.5% | 23.9% |
每股收益（稀释后）BAGS
| Q1 26 | $-0.11 | — | ||
| Q4 25 | $10.70 | $14.04 | ||
| Q3 25 | $-7.14 | $12.25 | ||
| Q2 25 | $-0.92 | $10.91 | ||
| Q1 25 | $-0.16 | $14.12 | ||
| Q4 24 | $-5.50 | — | ||
| Q3 24 | $-9.97 | $8.40 | ||
| Q2 24 | $-2.33 | $8.62 |
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 | $9.4B | $164.3B |
| 总债务越低越好 | $44.4B | — |
| 股东权益账面价值 | $6.0B | $125.0B |
| 总资产 | $164.8B | $1809.3B |
| 负债/权益比越低杠杆越低 | 7.41× | — |
8季度趋势，按日历期对齐
现金及短期投资BAGS
| Q1 26 | $9.4B | — | ||
| Q4 25 | $29.4B | $164.3B | ||
| Q3 25 | $23.0B | $169.6B | ||
| Q2 25 | $23.0B | $153.0B | ||
| Q1 25 | $23.7B | $167.4B | ||
| Q4 24 | $26.3B | — | ||
| Q3 24 | $10.5B | $154.7B | ||
| Q2 24 | $12.6B | $206.3B |
总债务BAGS
| Q1 26 | $44.4B | — | ||
| Q4 25 | $45.6B | — | ||
| Q3 25 | $44.6B | — | ||
| Q2 25 | $44.6B | — | ||
| Q1 25 | $45.7B | — | ||
| Q4 24 | $52.6B | — | ||
| Q3 24 | $53.2B | — | ||
| Q2 24 | $53.2B | — |
股东权益BAGS
| Q1 26 | $6.0B | — | ||
| Q4 25 | $5.5B | $125.0B | ||
| Q3 25 | $-8.3B | $124.4B | ||
| Q2 25 | $-3.3B | $124.1B | ||
| Q1 25 | $-3.3B | $124.3B | ||
| Q4 24 | $-3.9B | — | ||
| Q3 24 | $-23.6B | $121.2B | ||
| Q2 24 | $-18.0B | $119.5B |
总资产BAGS
| Q1 26 | $164.8B | — | ||
| Q4 25 | $168.2B | $1809.3B | ||
| Q3 25 | $150.0B | $1808.0B | ||
| Q2 25 | $155.1B | $1785.0B | ||
| Q1 25 | $156.5B | $1766.2B | ||
| Q4 24 | $156.4B | — | ||
| Q3 24 | $137.7B | $1728.1B | ||
| Q2 24 | $142.7B | $1653.3B |
负债/权益比BAGS
| Q1 26 | 7.41× | — | ||
| Q4 25 | 8.37× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $-16.3B |
| 自由现金流经营现金流 - 资本支出 | $-1.5B | $-16.8B |
| 自由现金流率自由现金流/营收 | -6.5% | -124.9% |
| 资本支出强度资本支出/营收 | — | 3.9% |
| 现金转化率经营现金流/净利润 | — | -3.53× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $-47.2B |
8季度趋势，按日历期对齐
经营现金流BAGS
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $-16.3B | ||
| Q3 25 | $1.1B | $2.7B | ||
| Q2 25 | $227.0M | $5.7B | ||
| Q1 25 | $-1.6B | $-37.2B | ||
| Q4 24 | $-3.5B | — | ||
| Q3 24 | $-1.3B | — | ||
| Q2 24 | $-3.9B | — |
自由现金流BAGS
| Q1 26 | $-1.5B | — | ||
| Q4 25 | $375.0M | $-16.8B | ||
| Q3 25 | $238.0M | $2.1B | ||
| Q2 25 | $-200.0M | $5.2B | ||
| Q1 25 | $-2.3B | $-37.7B | ||
| Q4 24 | $-4.1B | — | ||
| Q3 24 | $-2.0B | — | ||
| Q2 24 | $-4.3B | — |
自由现金流率BAGS
| Q1 26 | -6.5% | — | ||
| Q4 25 | 1.6% | -124.9% | ||
| Q3 25 | 1.0% | 14.0% | ||
| Q2 25 | -0.9% | 35.6% | ||
| Q1 25 | -11.7% | -250.5% | ||
| Q4 24 | -26.9% | — | ||
| Q3 24 | -11.0% | — | ||
| Q2 24 | -25.7% | — |
资本支出强度BAGS
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 3.9% | ||
| Q3 25 | 3.8% | 3.7% | ||
| Q2 25 | 1.9% | 3.3% | ||
| Q1 25 | 3.5% | 3.3% | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 2.4% | — |
现金转化率BAGS
| Q1 26 | — | — | ||
| Q4 25 | 0.16× | -3.53× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 1.52× | ||
| Q1 25 | — | -7.86× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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
BA
| Commercial Airplanes | $9.2B | 41% |
| Defense, Space & Security | $7.6B | 34% |
| Global Services | $5.4B | 24% |
GS
| Global Banking And Markets | $10.5B | 78% |
| Other | $2.9B | 22% |
