vs
百通（BDC）与柯蒂斯-莱特（CW）财务数据对比。点击上方公司名可切换其他公司
柯蒂斯-莱特的季度营收约是百通的1.3倍（$947.0M vs $720.1M），柯蒂斯-莱特净利率更高（14.5% vs 9.4%，领先5.0%），柯蒂斯-莱特同比增速更快（14.9% vs 8.1%），柯蒂斯-莱特自由现金流更多（$315.1M vs $121.3M），过去两年百通的营收复合增速更高（15.9% vs 15.2%）
百通公司是美国上市跨国企业，专注于端到端网络、安全及连接产品的设计、生产与销售，业务覆盖工业自动化解决方案、智能建筑、宽带及5G三大核心领域，为各行业客户提供可靠的通信连接相关产品与服务。
柯蒂斯-莱特公司是总部位于美国北卡罗来纳州戴维森的制造与服务提供商，在美国内外均设有工厂及业务网点。公司1929年由柯蒂斯、莱特及多家供应商合并成立，成立之初即为美国最大航空企业，二战期间为美军生产了超14.2万台航空发动机。
BDC vs CW — 直观对比
营收规模更大
CW
是对方的1.3倍
$720.1M
营收增速更快
CW
高出6.8%
8.1%
净利率更高
CW
高出5.0%
9.4%
自由现金流更多
CW
多$193.9M
$121.3M
两年增速更快
BDC
近两年复合增速
15.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $720.1M | $947.0M |
| 净利润 | $67.9M | $137.0M |
| 毛利率 | 36.6% | 37.5% |
| 营业利润率 | 12.2% | 19.2% |
| 净利率 | 9.4% | 14.5% |
| 营收同比 | 8.1% | 14.9% |
| 净利润同比 | 16.3% | 16.2% |
| 每股收益（稀释后） | $1.70 | $3.69 |
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BDCCW
| Q4 25 | $720.1M | $947.0M | ||
| Q3 25 | $698.2M | $869.2M | ||
| Q2 25 | $672.0M | $876.6M | ||
| Q1 25 | $624.9M | $805.6M | ||
| Q4 24 | $666.0M | $824.3M | ||
| Q3 24 | $654.9M | $798.9M | ||
| Q2 24 | $604.3M | $784.8M | ||
| Q1 24 | $535.7M | $713.2M |
净利润BDCCW
| Q4 25 | $67.9M | $137.0M | ||
| Q3 25 | $56.7M | $124.8M | ||
| Q2 25 | $61.0M | $121.1M | ||
| Q1 25 | $51.9M | $101.3M | ||
| Q4 24 | $58.4M | $117.9M | ||
| Q3 24 | $53.7M | $111.2M | ||
| Q2 24 | $49.0M | $99.5M | ||
| Q1 24 | $37.3M | $76.5M |
毛利率BDCCW
| Q4 25 | 36.6% | 37.5% | ||
| Q3 25 | 37.7% | 37.7% | ||
| Q2 25 | 38.5% | 37.2% | ||
| Q1 25 | 39.3% | 36.3% | ||
| Q4 24 | 37.5% | 38.5% | ||
| Q3 24 | 37.3% | 37.3% | ||
| Q2 24 | 37.5% | 36.2% | ||
| Q1 24 | 37.6% | 35.6% |
营业利润率BDCCW
| Q4 25 | 12.2% | 19.2% | ||
| Q3 25 | 10.9% | 19.1% | ||
| Q2 25 | 11.8% | 17.8% | ||
| Q1 25 | 11.6% | 16.0% | ||
| Q4 24 | 10.4% | 18.8% | ||
| Q3 24 | 11.5% | 18.1% | ||
| Q2 24 | 11.4% | 16.4% | ||
| Q1 24 | 9.9% | 14.0% |
净利率BDCCW
| Q4 25 | 9.4% | 14.5% | ||
| Q3 25 | 8.1% | 14.4% | ||
| Q2 25 | 9.1% | 13.8% | ||
| Q1 25 | 8.3% | 12.6% | ||
| Q4 24 | 8.8% | 14.3% | ||
| Q3 24 | 8.2% | 13.9% | ||
| Q2 24 | 8.1% | 12.7% | ||
| Q1 24 | 7.0% | 10.7% |
每股收益（稀释后）BDCCW
| Q4 25 | $1.70 | $3.69 | ||
| Q3 25 | $1.41 | $3.31 | ||
| Q2 25 | $1.53 | $3.19 | ||
| Q1 25 | $1.27 | $2.68 | ||
| Q4 24 | $1.41 | $3.09 | ||
| Q3 24 | $1.30 | $2.89 | ||
| Q2 24 | $1.19 | $2.58 | ||
| Q1 24 | $0.90 | $1.99 |
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 | $389.9M | — |
| 总债务越低越好 | — | $957.9M |
| 股东权益账面价值 | $1.3B | $2.5B |
| 总资产 | $3.5B | $5.2B |
| 负债/权益比越低杠杆越低 | — | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资BDCCW
| Q4 25 | $389.9M | — | ||
| Q3 25 | $314.3M | — | ||
| Q2 25 | $301.5M | — | ||
| Q1 25 | $259.0M | $226.5M | ||
| Q4 24 | $370.3M | $385.0M | ||
| Q3 24 | $323.0M | — | ||
| Q2 24 | $564.8M | — | ||
| Q1 24 | $506.8M | $338.0M |
总债务BDCCW
| Q4 25 | — | $957.9M | ||
| Q3 25 | — | $968.6M | ||
| Q2 25 | — | $958.4M | ||
| Q1 25 | — | $958.6M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $1.1B |
股东权益BDCCW
| Q4 25 | $1.3B | $2.5B | ||
| Q3 25 | $1.2B | $2.5B | ||
| Q2 25 | $1.2B | $2.7B | ||
| Q1 25 | $1.2B | $2.6B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.2B | $2.5B | ||
| Q2 24 | $1.2B | $2.5B | ||
| Q1 24 | $1.2B | $2.4B |
总资产BDCCW
| Q4 25 | $3.5B | $5.2B | ||
| Q3 25 | $3.4B | $5.1B | ||
| Q2 25 | $3.4B | $5.2B | ||
| Q1 25 | $3.3B | $5.0B | ||
| Q4 24 | $3.3B | $5.0B | ||
| Q3 24 | $3.3B | $4.9B | ||
| Q2 24 | $3.5B | $4.7B | ||
| Q1 24 | $3.1B | $4.6B |
负债/权益比BDCCW
| Q4 25 | — | 0.38× | ||
| Q3 25 | — | 0.38× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.37× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | 0.43× | ||
| Q1 24 | — | 0.44× |
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 | $160.4M | $352.7M |
| 自由现金流经营现金流 - 资本支出 | $121.3M | $315.1M |
| 自由现金流率自由现金流/营收 | 16.8% | 33.3% |
| 资本支出强度资本支出/营收 | 5.4% | 4.0% |
| 现金转化率经营现金流/净利润 | 2.36× | 2.57× |
| 过去12个月自由现金流最近4个季度 | $218.7M | $553.7M |
8季度趋势，按日历期对齐
经营现金流BDCCW
| Q4 25 | $160.4M | $352.7M | ||
| Q3 25 | $105.0M | $192.8M | ||
| Q2 25 | $82.0M | $136.6M | ||
| Q1 25 | $7.4M | $-38.8M | ||
| Q4 24 | $174.7M | $301.3M | ||
| Q3 24 | $91.7M | $177.3M | ||
| Q2 24 | $83.0M | $111.3M | ||
| Q1 24 | $2.7M | $-45.6M |
自由现金流BDCCW
| Q4 25 | $121.3M | $315.1M | ||
| Q3 25 | $65.3M | $175.9M | ||
| Q2 25 | $56.9M | $117.2M | ||
| Q1 25 | $-24.8M | $-54.5M | ||
| Q4 24 | $116.4M | $278.0M | ||
| Q3 24 | $67.2M | $162.7M | ||
| Q2 24 | $61.0M | $100.3M | ||
| Q1 24 | $-21.5M | $-57.7M |
自由现金流率BDCCW
| Q4 25 | 16.8% | 33.3% | ||
| Q3 25 | 9.4% | 20.2% | ||
| Q2 25 | 8.5% | 13.4% | ||
| Q1 25 | -4.0% | -6.8% | ||
| Q4 24 | 17.5% | 33.7% | ||
| Q3 24 | 10.3% | 20.4% | ||
| Q2 24 | 10.1% | 12.8% | ||
| Q1 24 | -4.0% | -8.1% |
资本支出强度BDCCW
| Q4 25 | 5.4% | 4.0% | ||
| Q3 25 | 5.7% | 1.9% | ||
| Q2 25 | 3.7% | 2.2% | ||
| Q1 25 | 5.2% | 2.0% | ||
| Q4 24 | 8.8% | 2.8% | ||
| Q3 24 | 3.7% | 1.8% | ||
| Q2 24 | 3.6% | 1.4% | ||
| Q1 24 | 4.5% | 1.7% |
现金转化率BDCCW
| Q4 25 | 2.36× | 2.57× | ||
| Q3 25 | 1.85× | 1.54× | ||
| Q2 25 | 1.34× | 1.13× | ||
| Q1 25 | 0.14× | -0.38× | ||
| Q4 24 | 2.99× | 2.56× | ||
| Q3 24 | 1.71× | 1.59× | ||
| Q2 24 | 1.69× | 1.12× | ||
| Q1 24 | 0.07× | -0.60× |
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
BDC
| Automation Solutions Segment | $397.7M | 55% |
| Broadband Solutions | $164.8M | 23% |
| Smart Buildings Solutions | $157.7M | 22% |
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
