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BENCHMARK ELECTRONICS INC（BHE）与伟创力（FLEX）财务数据对比。点击上方公司名可切换其他公司
伟创力的季度营收约是BENCHMARK ELECTRONICS INC的9.7倍（$7.1B vs $725.8M）。伟创力同比增速更快（7.7% vs 6.2%）。伟创力自由现金流更多（$272.0M vs $48.2M）。过去两年伟创力的营收复合增速更高（25.2% vs 1.1%）
Benchmark Electronics Inc是总部位于美国亚利桑那州坦佩市的电子制造服务（EMS）、原始设计制造（ODM）及原始设备制造（OEM）企业，为客户提供专业的合同制造服务，业务覆盖全球多个区域的电子产业链需求。
伟创力（Flex Ltd.）是一家拥有新加坡与美国背景的跨国制造企业，按营收计算为全球第三大电子制造服务（EMS）及原始设计制造商（ODM），仅次于和硕。其美国总部位于得克萨斯州奥斯汀，在30多个国家设有生产基地，员工总数约17.2万人。
BHE vs FLEX — 直观对比
营收规模更大
FLEX
是对方的9.7倍
$725.8M
营收增速更快
FLEX
高出1.5%
6.2%
自由现金流更多
FLEX
多$223.8M
$48.2M
两年增速更快
FLEX
近两年复合增速
1.1%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $725.8M | $7.1B |
| 净利润 | — | $239.0M |
| 毛利率 | 10.2% | 9.6% |
| 营业利润率 | 2.8% | 5.5% |
| 净利率 | — | 3.4% |
| 营收同比 | 6.2% | 7.7% |
| 净利润同比 | — | -9.1% |
| 每股收益（稀释后） | $0.16 | $0.64 |
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BHEFLEX
| Q4 25 | $725.8M | $7.1B | ||
| Q3 25 | $702.6M | $6.8B | ||
| Q2 25 | $665.7M | $6.6B | ||
| Q1 25 | $654.6M | $6.4B | ||
| Q4 24 | $683.6M | $6.6B | ||
| Q3 24 | $680.0M | $6.5B | ||
| Q2 24 | $686.7M | $6.3B | ||
| Q1 24 | $710.6M | $4.5B |
净利润BHEFLEX
| Q4 25 | — | $239.0M | ||
| Q3 25 | $14.3M | $199.0M | ||
| Q2 25 | $972.0K | $192.0M | ||
| Q1 25 | $3.6M | $222.0M | ||
| Q4 24 | — | $263.0M | ||
| Q3 24 | $15.4M | $214.0M | ||
| Q2 24 | $15.5M | $139.0M | ||
| Q1 24 | $14.0M | $395.0M |
毛利率BHEFLEX
| Q4 25 | 10.2% | 9.6% | ||
| Q3 25 | 9.7% | 9.0% | ||
| Q2 25 | 9.7% | 8.7% | ||
| Q1 25 | 9.7% | 8.8% | ||
| Q4 24 | 9.9% | 9.1% | ||
| Q3 24 | 9.8% | 8.1% | ||
| Q2 24 | 9.9% | 7.5% | ||
| Q1 24 | 9.5% | -0.6% |
营业利润率BHEFLEX
| Q4 25 | 2.8% | 5.5% | ||
| Q3 25 | 3.4% | 4.4% | ||
| Q2 25 | 3.1% | 4.7% | ||
| Q1 25 | 1.8% | 4.8% | ||
| Q4 24 | 4.2% | 5.1% | ||
| Q3 24 | 4.1% | 4.5% | ||
| Q2 24 | 4.0% | 3.7% | ||
| Q1 24 | 3.6% | -3.6% |
净利率BHEFLEX
| Q4 25 | — | 3.4% | ||
| Q3 25 | 2.0% | 2.9% | ||
| Q2 25 | 0.1% | 2.9% | ||
| Q1 25 | 0.6% | 3.5% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | 2.3% | 3.3% | ||
| Q2 24 | 2.3% | 2.2% | ||
| Q1 24 | 2.0% | 8.8% |
每股收益（稀释后）BHEFLEX
| Q4 25 | $0.16 | $0.64 | ||
| Q3 25 | $0.39 | $0.52 | ||
| Q2 25 | $0.03 | $0.50 | ||
| Q1 25 | $0.10 | $0.56 | ||
| Q4 24 | $0.43 | $0.67 | ||
| Q3 24 | $0.42 | $0.54 | ||
| Q2 24 | $0.43 | $0.34 | ||
| Q1 24 | $0.38 | $0.91 |
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 | $322.1M | $3.1B |
| 总债务越低越好 | $206.8M | $4.4B |
| 股东权益账面价值 | $1.1B | $5.1B |
| 总资产 | $2.1B | $20.8B |
| 负债/权益比越低杠杆越低 | 0.19× | 0.87× |
8季度趋势，按日历期对齐
现金及短期投资BHEFLEX
| Q4 25 | $322.1M | $3.1B | ||
| Q3 25 | $285.4M | $2.2B | ||
| Q2 25 | $264.6M | $2.2B | ||
| Q1 25 | $355.3M | $2.3B | ||
| Q4 24 | $315.2M | $2.3B | ||
| Q3 24 | $324.4M | $2.6B | ||
| Q2 24 | $309.3M | $2.2B | ||
| Q1 24 | $296.1M | $2.5B |
总债务BHEFLEX
| Q4 25 | $206.8M | $4.4B | ||
| Q3 25 | $212.6M | $3.7B | ||
| Q2 25 | $203.4M | $3.7B | ||
| Q1 25 | $268.9M | $3.7B | ||
| Q4 24 | $250.5M | $3.7B | ||
| Q3 24 | $272.0M | $3.7B | ||
| Q2 24 | $283.6M | $3.2B | ||
| Q1 24 | $310.1M | $3.3B |
股东权益BHEFLEX
| Q4 25 | $1.1B | $5.1B | ||
| Q3 25 | $1.1B | $5.0B | ||
| Q2 25 | $1.1B | $5.1B | ||
| Q1 25 | $1.1B | $5.0B | ||
| Q4 24 | $1.1B | $5.0B | ||
| Q3 24 | $1.1B | $5.0B | ||
| Q2 24 | $1.1B | $5.0B | ||
| Q1 24 | $1.1B | $5.3B |
总资产BHEFLEX
| Q4 25 | $2.1B | $20.8B | ||
| Q3 25 | $2.1B | $19.5B | ||
| Q2 25 | $2.0B | $19.1B | ||
| Q1 25 | $2.1B | $18.4B | ||
| Q4 24 | $2.1B | $18.3B | ||
| Q3 24 | $2.1B | $18.6B | ||
| Q2 24 | $2.2B | $17.7B | ||
| Q1 24 | $2.2B | $18.3B |
负债/权益比BHEFLEX
| Q4 25 | 0.19× | 0.87× | ||
| Q3 25 | 0.19× | 0.73× | ||
| Q2 25 | 0.18× | 0.72× | ||
| Q1 25 | 0.24× | 0.74× | ||
| Q4 24 | 0.23× | 0.74× | ||
| Q3 24 | 0.25× | 0.74× | ||
| Q2 24 | 0.26× | 0.64× | ||
| Q1 24 | 0.29× | 0.61× |
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 | $58.7M | $420.0M |
| 自由现金流经营现金流 - 资本支出 | $48.2M | $272.0M |
| 自由现金流率自由现金流/营收 | 6.6% | 3.9% |
| 资本支出强度资本支出/营收 | 1.4% | 2.1% |
| 现金转化率经营现金流/净利润 | — | 1.76× |
| 过去12个月自由现金流最近4个季度 | $88.4M | $1.2B |
8季度趋势，按日历期对齐
经营现金流BHEFLEX
| Q4 25 | $58.7M | $420.0M | ||
| Q3 25 | $36.6M | $453.0M | ||
| Q2 25 | $-2.8M | $399.0M | ||
| Q1 25 | $31.5M | $433.0M | ||
| Q4 24 | $45.9M | $413.0M | ||
| Q3 24 | $39.0M | $319.0M | ||
| Q2 24 | $55.8M | $340.0M | ||
| Q1 24 | $48.5M | $679.0M |
自由现金流BHEFLEX
| Q4 25 | $48.2M | $272.0M | ||
| Q3 25 | $25.8M | $303.0M | ||
| Q2 25 | $-13.8M | $266.0M | ||
| Q1 25 | $28.1M | $321.0M | ||
| Q4 24 | $37.2M | $301.0M | ||
| Q3 24 | $29.2M | $216.0M | ||
| Q2 24 | $48.2M | $229.0M | ||
| Q1 24 | $43.3M | $598.0M |
自由现金流率BHEFLEX
| Q4 25 | 6.6% | 3.9% | ||
| Q3 25 | 3.7% | 4.5% | ||
| Q2 25 | -2.1% | 4.0% | ||
| Q1 25 | 4.3% | 5.0% | ||
| Q4 24 | 5.4% | 4.6% | ||
| Q3 24 | 4.3% | 3.3% | ||
| Q2 24 | 7.0% | 3.6% | ||
| Q1 24 | 6.1% | 13.3% |
资本支出强度BHEFLEX
| Q4 25 | 1.4% | 2.1% | ||
| Q3 25 | 1.5% | 2.2% | ||
| Q2 25 | 1.7% | 2.0% | ||
| Q1 25 | 0.5% | 1.8% | ||
| Q4 24 | 1.3% | 1.7% | ||
| Q3 24 | 1.4% | 1.6% | ||
| Q2 24 | 1.1% | 1.8% | ||
| Q1 24 | 0.7% | 1.8% |
现金转化率BHEFLEX
| Q4 25 | — | 1.76× | ||
| Q3 25 | 2.57× | 2.28× | ||
| Q2 25 | -2.90× | 2.08× | ||
| Q1 25 | 8.65× | 1.95× | ||
| Q4 24 | — | 1.57× | ||
| Q3 24 | 2.54× | 1.49× | ||
| Q2 24 | 3.59× | 2.45× | ||
| Q1 24 | 3.46× | 1.72× |
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
BHE
| Other | $384.9M | 53% |
| Aerospace And Defense Sector | $107.6M | 15% |
| Healthcare Sector | $81.7M | 11% |
| Advanced Computing And Communications Sector | $70.0M | 10% |
| Semi Cap Sector | $45.4M | 6% |
| Industrial Sector | $25.2M | 3% |
| Intersegment Sales | $11.0M | 2% |
FLEX
| Flex Reliability Solutions FRS | $3.2B | 46% |
| Transferred At Point In Time | $2.7B | 38% |
| Transferred Over Time | $1.1B | 16% |
