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BWX Technologies, Inc.（BWXT）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BWX Technologies, Inc.的1.1倍（$947.0M vs $885.8M），柯蒂斯-莱特净利率更高（14.5% vs 10.5%，领先4.0%），BWX Technologies, Inc.同比增速更快（18.7% vs 14.9%），柯蒂斯-莱特自由现金流更多（$315.1M vs $56.8M），过去两年BWX Technologies, Inc.的营收复合增速更高（21.1% vs 15.2%）
BWX Technologies Inc.（简称BWXT）总部位于美国弗吉尼亚州林奇堡，是一家面向全球供应核部件与核燃料的专业企业，产品广泛应用于核电及核工业相关领域，服务覆盖全球多个国家和地区的客户。
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。
BWXT vs CW — 直观对比
营收规模更大
CW
是对方的1.1倍
$885.8M
营收增速更快
BWXT
高出3.8%
14.9%
净利率更高
CW
高出4.0%
10.5%
自由现金流更多
CW
多$258.3M
$56.8M
两年增速更快
BWXT
近两年复合增速
15.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $885.8M | $947.0M |
| 净利润 | $93.0M | $137.0M |
| 毛利率 | — | 37.5% |
| 营业利润率 | 10.4% | 19.2% |
| 净利率 | 10.5% | 14.5% |
| 营收同比 | 18.7% | 14.9% |
| 净利润同比 | 30.9% | 16.2% |
| 每股收益（稀释后） | $1.02 | $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BWXTCW
| Q4 25 | $885.8M | $947.0M | ||
| Q3 25 | $866.3M | $869.2M | ||
| Q2 25 | $764.0M | $876.6M | ||
| Q1 25 | $682.3M | $805.6M | ||
| Q4 24 | $746.3M | $824.3M | ||
| Q3 24 | $672.0M | $798.9M | ||
| Q2 24 | $681.5M | $784.8M | ||
| Q1 24 | $604.0M | $713.2M |
净利润BWXTCW
| Q4 25 | $93.0M | $137.0M | ||
| Q3 25 | $82.1M | $124.8M | ||
| Q2 25 | $78.4M | $121.1M | ||
| Q1 25 | $75.5M | $101.3M | ||
| Q4 24 | $71.0M | $117.9M | ||
| Q3 24 | $69.5M | $111.2M | ||
| Q2 24 | $73.0M | $99.5M | ||
| Q1 24 | $68.5M | $76.5M |
毛利率BWXTCW
| Q4 25 | — | 37.5% | ||
| Q3 25 | 21.8% | 37.7% | ||
| Q2 25 | 25.1% | 37.2% | ||
| Q1 25 | 24.2% | 36.3% | ||
| Q4 24 | — | 38.5% | ||
| Q3 24 | 24.4% | 37.3% | ||
| Q2 24 | 24.7% | 36.2% | ||
| Q1 24 | 24.6% | 35.6% |
营业利润率BWXTCW
| Q4 25 | 10.4% | 19.2% | ||
| Q3 25 | 13.1% | 19.1% | ||
| Q2 25 | 13.4% | 17.8% | ||
| Q1 25 | 14.2% | 16.0% | ||
| Q4 24 | 12.4% | 18.8% | ||
| Q3 24 | 14.4% | 18.1% | ||
| Q2 24 | 14.5% | 16.4% | ||
| Q1 24 | 15.4% | 14.0% |
净利率BWXTCW
| Q4 25 | 10.5% | 14.5% | ||
| Q3 25 | 9.5% | 14.4% | ||
| Q2 25 | 10.3% | 13.8% | ||
| Q1 25 | 11.1% | 12.6% | ||
| Q4 24 | 9.5% | 14.3% | ||
| Q3 24 | 10.3% | 13.9% | ||
| Q2 24 | 10.7% | 12.7% | ||
| Q1 24 | 11.3% | 10.7% |
每股收益（稀释后）BWXTCW
| Q4 25 | $1.02 | $3.69 | ||
| Q3 25 | $0.89 | $3.31 | ||
| Q2 25 | $0.85 | $3.19 | ||
| Q1 25 | $0.82 | $2.68 | ||
| Q4 24 | $0.77 | $3.09 | ||
| Q3 24 | $0.76 | $2.89 | ||
| Q2 24 | $0.79 | $2.58 | ||
| Q1 24 | $0.75 | $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 | $499.8M | — |
| 总债务越低越好 | — | $957.9M |
| 股东权益账面价值 | $1.2B | $2.5B |
| 总资产 | $4.3B | $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BWXTCW
| Q4 25 | $499.8M | — | ||
| Q3 25 | $79.6M | — | ||
| Q2 25 | $37.0M | — | ||
| Q1 25 | $55.4M | $226.5M | ||
| Q4 24 | $74.1M | $385.0M | ||
| Q3 24 | $35.5M | — | ||
| Q2 24 | $48.3M | — | ||
| Q1 24 | $45.9M | $338.0M |
总债务BWXTCW
| 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BWXTCW
| Q4 25 | $1.2B | $2.5B | ||
| Q3 25 | $1.2B | $2.5B | ||
| Q2 25 | $1.2B | $2.7B | ||
| Q1 25 | $1.1B | $2.6B | ||
| Q4 24 | $1.1B | $2.4B | ||
| Q3 24 | $1.1B | $2.5B | ||
| Q2 24 | $998.5M | $2.5B | ||
| Q1 24 | $946.2M | $2.4B |
总资产BWXTCW
| Q4 25 | $4.3B | $5.2B | ||
| Q3 25 | $3.8B | $5.1B | ||
| Q2 25 | $3.7B | $5.2B | ||
| Q1 25 | $3.1B | $5.0B | ||
| Q4 24 | $2.9B | $5.0B | ||
| Q3 24 | $2.9B | $4.9B | ||
| Q2 24 | $2.8B | $4.7B | ||
| Q1 24 | $2.8B | $4.6B |
负债/权益比BWXTCW
| 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 | $127.0M | $352.7M |
| 自由现金流经营现金流 - 资本支出 | $56.8M | $315.1M |
| 自由现金流率自由现金流/营收 | 6.4% | 33.3% |
| 资本支出强度资本支出/营收 | 7.9% | 4.0% |
| 现金转化率经营现金流/净利润 | 1.37× | 2.57× |
| 过去12个月自由现金流最近4个季度 | $295.3M | $553.7M |
8季度趋势，按日历期对齐
经营现金流BWXTCW
| Q4 25 | $127.0M | $352.7M | ||
| Q3 25 | $143.2M | $192.8M | ||
| Q2 25 | $159.0M | $136.6M | ||
| Q1 25 | $50.6M | $-38.8M | ||
| Q4 24 | $276.9M | $301.3M | ||
| Q3 24 | $32.6M | $177.3M | ||
| Q2 24 | $65.9M | $111.3M | ||
| Q1 24 | $33.0M | $-45.6M |
自由现金流BWXTCW
| Q4 25 | $56.8M | $315.1M | ||
| Q3 25 | $94.9M | $175.9M | ||
| Q2 25 | $126.3M | $117.2M | ||
| Q1 25 | $17.3M | $-54.5M | ||
| Q4 24 | $224.4M | $278.0M | ||
| Q3 24 | $-7.7M | $162.7M | ||
| Q2 24 | $35.5M | $100.3M | ||
| Q1 24 | $2.6M | $-57.7M |
自由现金流率BWXTCW
| Q4 25 | 6.4% | 33.3% | ||
| Q3 25 | 11.0% | 20.2% | ||
| Q2 25 | 16.5% | 13.4% | ||
| Q1 25 | 2.5% | -6.8% | ||
| Q4 24 | 30.1% | 33.7% | ||
| Q3 24 | -1.1% | 20.4% | ||
| Q2 24 | 5.2% | 12.8% | ||
| Q1 24 | 0.4% | -8.1% |
资本支出强度BWXTCW
| Q4 25 | 7.9% | 4.0% | ||
| Q3 25 | 5.6% | 1.9% | ||
| Q2 25 | 4.3% | 2.2% | ||
| Q1 25 | 4.9% | 2.0% | ||
| Q4 24 | 7.0% | 2.8% | ||
| Q3 24 | 6.0% | 1.8% | ||
| Q2 24 | 4.5% | 1.4% | ||
| Q1 24 | 5.0% | 1.7% |
现金转化率BWXTCW
| Q4 25 | 1.37× | 2.57× | ||
| Q3 25 | 1.74× | 1.54× | ||
| Q2 25 | 2.03× | 1.13× | ||
| Q1 25 | 0.67× | -0.38× | ||
| Q4 24 | 3.90× | 2.56× | ||
| Q3 24 | 0.47× | 1.59× | ||
| Q2 24 | 0.90× | 1.12× | ||
| Q1 24 | 0.48× | -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
BWXT
| Nuclear Component Program | $436.4M | 49% |
| Nuclear Manufacturing | $134.8M | 15% |
| Cost Plus Fee | $116.1M | 13% |
| Uranium And Nuclear Services | $103.8M | 12% |
| Commercial Operations | $49.0M | 6% |
| Commercial Operations Segment | $33.7M | 4% |
| Transferred At Point In Time | $1.3M | 0% |
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
