vs
波音（BA）与托尔工业（THO）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托尔工业的9.3倍（$22.2B vs $2.4B）。托尔工业净利率更高（0.9% vs -0.0%，领先0.9%）。波音同比增速更快（14.0% vs 11.5%）。托尔工业自由现金流更多（$-74.8M vs $-1.5B）。过去两年波音的营收复合增速更高（14.8% vs 4.0%）
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。
托尔工业是美国知名休闲房车（RV）生产商，旗下拥有Airstream、Heartland RV、Jayco等多个子品牌，主营拖挂式及自行式休闲房车的生产销售，总部位于印第安纳州埃尔克哈特，在密歇根、俄亥俄、爱达荷、俄勒冈等多个州设有生产基地。
BA vs THO — 直观对比
营收规模更大
BA
是对方的9.3倍
$2.4B
营收增速更快
BA
高出2.5%
11.5%
净利率更高
THO
高出0.9%
-0.0%
自由现金流更多
THO
多$1.4B
$-1.5B
两年增速更快
BA
近两年复合增速
4.0%
损益表 — Q1 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $22.2B | $2.4B |
| 净利润 | $-7.0M | $21.7M |
| 毛利率 | — | 13.4% |
| 营业利润率 | 2.0% | 1.4% |
| 净利率 | -0.0% | 0.9% |
| 营收同比 | 14.0% | 11.5% |
| 净利润同比 | 77.4% | 1282.8% |
| 每股收益（稀释后） | $-0.11 | $0.41 |
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BATHO
| Q1 26 | $22.2B | — | ||
| Q4 25 | $23.9B | $2.4B | ||
| Q3 25 | $23.3B | $2.5B | ||
| Q2 25 | $22.7B | $2.9B | ||
| Q1 25 | $19.5B | $2.0B | ||
| Q4 24 | $15.2B | $2.1B | ||
| Q3 24 | $17.8B | $2.5B | ||
| Q2 24 | $16.9B | $2.8B |
净利润BATHO
| Q1 26 | $-7.0M | — | ||
| Q4 25 | $8.2B | $21.7M | ||
| Q3 25 | $-5.3B | $125.8M | ||
| Q2 25 | $-611.0M | $135.2M | ||
| Q1 25 | $-37.0M | $-551.0K | ||
| Q4 24 | $-3.9B | $-1.8M | ||
| Q3 24 | $-6.2B | $90.0M | ||
| Q2 24 | $-1.4B | $114.5M |
毛利率BATHO
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 13.4% | ||
| Q3 25 | -10.2% | 14.7% | ||
| Q2 25 | 10.7% | 15.3% | ||
| Q1 25 | 12.4% | 12.1% | ||
| Q4 24 | -10.4% | 13.1% | ||
| Q3 24 | -19.7% | 15.8% | ||
| Q2 24 | 7.3% | 15.1% |
营业利润率BATHO
| Q1 26 | 2.0% | — | ||
| Q4 25 | 36.7% | 1.4% | ||
| Q3 25 | -20.5% | 5.7% | ||
| Q2 25 | -0.8% | 5.4% | ||
| Q1 25 | 2.4% | -0.1% | ||
| Q4 24 | -24.7% | -0.1% | ||
| Q3 24 | -32.3% | 5.0% | ||
| Q2 24 | -6.5% | 5.1% |
净利率BATHO
| Q1 26 | -0.0% | — | ||
| Q4 25 | 34.3% | 0.9% | ||
| Q3 25 | -22.9% | 5.0% | ||
| Q2 25 | -2.7% | 4.7% | ||
| Q1 25 | -0.2% | -0.0% | ||
| Q4 24 | -25.4% | -0.1% | ||
| Q3 24 | -34.6% | 3.6% | ||
| Q2 24 | -8.5% | 4.1% |
每股收益（稀释后）BATHO
| Q1 26 | $-0.11 | — | ||
| Q4 25 | $10.70 | $0.41 | ||
| Q3 25 | $-7.14 | $2.35 | ||
| Q2 25 | $-0.92 | $2.53 | ||
| Q1 25 | $-0.16 | $-0.01 | ||
| Q4 24 | $-5.50 | $-0.03 | ||
| Q3 24 | $-9.97 | $1.69 | ||
| Q2 24 | $-2.33 | $2.13 |
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 | $509.9M |
| 总债务越低越好 | $44.4B | $916.0M |
| 股东权益账面价值 | $6.0B | $4.3B |
| 总资产 | $164.8B | $7.0B |
| 负债/权益比越低杠杆越低 | 7.41× | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资BATHO
| Q1 26 | $9.4B | — | ||
| Q4 25 | $29.4B | $509.9M | ||
| Q3 25 | $23.0B | $586.6M | ||
| Q2 25 | $23.0B | $508.3M | ||
| Q1 25 | $23.7B | $373.8M | ||
| Q4 24 | $26.3B | $445.2M | ||
| Q3 24 | $10.5B | $501.3M | ||
| Q2 24 | $12.6B | $371.8M |
总债务BATHO
| Q1 26 | $44.4B | — | ||
| Q4 25 | $45.6B | $916.0M | ||
| Q3 25 | $44.6B | $923.0M | ||
| Q2 25 | $44.6B | $1.0B | ||
| Q1 25 | $45.7B | $1.0B | ||
| Q4 24 | $52.6B | $1.1B | ||
| Q3 24 | $53.2B | $1.1B | ||
| Q2 24 | $53.2B | $1.2B |
股东权益BATHO
| Q1 26 | $6.0B | — | ||
| Q4 25 | $5.5B | $4.3B | ||
| Q3 25 | $-8.3B | $4.3B | ||
| Q2 25 | $-3.3B | $4.2B | ||
| Q1 25 | $-3.3B | $4.0B | ||
| Q4 24 | $-3.9B | $4.1B | ||
| Q3 24 | $-23.6B | $4.1B | ||
| Q2 24 | $-18.0B | $4.0B |
总资产BATHO
| Q1 26 | $164.8B | — | ||
| Q4 25 | $168.2B | $7.0B | ||
| Q3 25 | $150.0B | $7.1B | ||
| Q2 25 | $155.1B | $7.2B | ||
| Q1 25 | $156.5B | $6.7B | ||
| Q4 24 | $156.4B | $6.9B | ||
| Q3 24 | $137.7B | $7.0B | ||
| Q2 24 | $142.7B | $7.2B |
负债/权益比BATHO
| Q1 26 | 7.41× | — | ||
| Q4 25 | 8.37× | 0.21× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 0.28× | ||
| Q2 24 | — | 0.31× |
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 | — | $-44.9M |
| 自由现金流经营现金流 - 资本支出 | $-1.5B | $-74.8M |
| 自由现金流率自由现金流/营收 | -6.5% | -3.1% |
| 资本支出强度资本支出/营收 | — | 1.3% |
| 现金转化率经营现金流/净利润 | — | -2.07× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $375.1M |
8季度趋势，按日历期对齐
经营现金流BATHO
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $-44.9M | ||
| Q3 25 | $1.1B | $258.7M | ||
| Q2 25 | $227.0M | $257.7M | ||
| Q1 25 | $-1.6B | $30.8M | ||
| Q4 24 | $-3.5B | $30.7M | ||
| Q3 24 | $-1.3B | $338.0M | ||
| Q2 24 | $-3.9B | $251.7M |
自由现金流BATHO
| Q1 26 | $-1.5B | — | ||
| Q4 25 | $375.0M | $-74.8M | ||
| Q3 25 | $238.0M | $221.6M | ||
| Q2 25 | $-200.0M | $222.5M | ||
| Q1 25 | $-2.3B | $5.8M | ||
| Q4 24 | $-4.1B | $6.4M | ||
| Q3 24 | $-2.0B | $301.3M | ||
| Q2 24 | $-4.3B | $225.4M |
自由现金流率BATHO
| Q1 26 | -6.5% | — | ||
| Q4 25 | 1.6% | -3.1% | ||
| Q3 25 | 1.0% | 8.8% | ||
| Q2 25 | -0.9% | 7.7% | ||
| Q1 25 | -11.7% | 0.3% | ||
| Q4 24 | -26.9% | 0.3% | ||
| Q3 24 | -11.0% | 11.9% | ||
| Q2 24 | -25.7% | 8.0% |
资本支出强度BATHO
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 1.3% | ||
| Q3 25 | 3.8% | 1.5% | ||
| Q2 25 | 1.9% | 1.2% | ||
| Q1 25 | 3.5% | 1.2% | ||
| Q4 24 | 4.3% | 1.1% | ||
| Q3 24 | 3.4% | 1.4% | ||
| Q2 24 | 2.4% | 0.9% |
现金转化率BATHO
| Q1 26 | — | — | ||
| Q4 25 | 0.16× | -2.07× | ||
| Q3 25 | — | 2.06× | ||
| Q2 25 | — | 1.91× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.76× | ||
| Q2 24 | — | 2.20× |
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% |
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
