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BWX Technologies, Inc.（BWXT）与L3Harris（LHX）财务数据对比。点击上方公司名可切换其他公司
L3Harris的季度营收约是BWX Technologies, Inc.的24.7倍（$21.9B vs $885.8M），BWX Technologies, Inc.同比增速更快（18.7% vs 2.5%），过去两年L3Harris的营收复合增速更高（102.4% vs 21.1%）
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。
L3Harris Technologies是美国科技企业、国防承包商及信息技术服务提供商，产品涵盖指挥控制系统、无线设备、战术电台、航电与电子系统、夜视设备、C3ISR系统、海洋系统、导航产品、训练设备及服务、陆基与星载天线等，主要服务政府领域客户。
BWXT vs LHX — 直观对比
营收规模更大
LHX
是对方的24.7倍
$885.8M
营收增速更快
BWXT
高出16.2%
2.5%
两年增速更快
LHX
近两年复合增速
21.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $885.8M | $21.9B |
| 净利润 | $93.0M | — |
| 毛利率 | — | 25.7% |
| 营业利润率 | 10.4% | 9.7% |
| 净利率 | 10.5% | — |
| 营收同比 | 18.7% | 2.5% |
| 净利润同比 | 30.9% | — |
| 每股收益（稀释后） | $1.02 | — |
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BWXTLHX
| Q1 26 | — | $21.9B | ||
| Q4 25 | $885.8M | $5.7B | ||
| Q3 25 | $866.3M | — | ||
| Q2 25 | $764.0M | $5.4B | ||
| Q1 25 | $682.3M | $5.5B | ||
| Q4 24 | $746.3M | — | ||
| Q3 24 | $672.0M | $5.3B | ||
| Q2 24 | $681.5M | $5.3B |
净利润BWXTLHX
| Q1 26 | — | — | ||
| Q4 25 | $93.0M | $462.0M | ||
| Q3 25 | $82.1M | — | ||
| Q2 25 | $78.4M | $458.0M | ||
| Q1 25 | $75.5M | $453.0M | ||
| Q4 24 | $71.0M | — | ||
| Q3 24 | $69.5M | $400.0M | ||
| Q2 24 | $73.0M | $366.0M |
毛利率BWXTLHX
| Q1 26 | — | 25.7% | ||
| Q4 25 | — | 26.4% | ||
| Q3 25 | 21.8% | — | ||
| Q2 25 | 25.1% | 24.6% | ||
| Q1 25 | 24.2% | 25.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.4% | 26.8% | ||
| Q2 24 | 24.7% | 25.7% |
营业利润率BWXTLHX
| Q1 26 | — | 9.7% | ||
| Q4 25 | 10.4% | 11.0% | ||
| Q3 25 | 13.1% | — | ||
| Q2 25 | 13.4% | 10.5% | ||
| Q1 25 | 14.2% | 10.3% | ||
| Q4 24 | 12.4% | — | ||
| Q3 24 | 14.4% | 9.4% | ||
| Q2 24 | 14.5% | 9.0% |
净利率BWXTLHX
| Q1 26 | — | — | ||
| Q4 25 | 10.5% | 8.2% | ||
| Q3 25 | 9.5% | — | ||
| Q2 25 | 10.3% | 8.4% | ||
| Q1 25 | 11.1% | 8.2% | ||
| Q4 24 | 9.5% | — | ||
| Q3 24 | 10.3% | 7.6% | ||
| Q2 24 | 10.7% | 6.9% |
每股收益（稀释后）BWXTLHX
| Q1 26 | — | — | ||
| Q4 25 | $1.02 | $2.46 | ||
| Q3 25 | $0.89 | — | ||
| Q2 25 | $0.85 | $2.44 | ||
| Q1 25 | $0.82 | $2.37 | ||
| Q4 24 | $0.77 | — | ||
| Q3 24 | $0.76 | $2.10 | ||
| Q2 24 | $0.79 | $1.92 |
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 | $1.1B |
| 总债务越低越好 | — | $10.4B |
| 股东权益账面价值 | $1.2B | $19.6B |
| 总资产 | $4.3B | $41.2B |
| 负债/权益比越低杠杆越低 | — | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资BWXTLHX
| Q1 26 | — | $1.1B | ||
| Q4 25 | $499.8M | $339.0M | ||
| Q3 25 | $79.6M | — | ||
| Q2 25 | $37.0M | $482.0M | ||
| Q1 25 | $55.4M | $615.0M | ||
| Q4 24 | $74.1M | — | ||
| Q3 24 | $35.5M | $539.0M | ||
| Q2 24 | $48.3M | $547.0M |
总债务BWXTLHX
| Q1 26 | — | $10.4B | ||
| Q4 25 | — | $11.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $11.0B | ||
| Q1 25 | — | $11.1B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $10.5B |
股东权益BWXTLHX
| Q1 26 | — | $19.6B | ||
| Q4 25 | $1.2B | $19.5B | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | $19.3B | ||
| Q1 25 | $1.1B | $19.5B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $19.0B | ||
| Q2 24 | $998.5M | $18.8B |
总资产BWXTLHX
| Q1 26 | — | $41.2B | ||
| Q4 25 | $4.3B | $41.0B | ||
| Q3 25 | $3.8B | — | ||
| Q2 25 | $3.7B | $41.2B | ||
| Q1 25 | $3.1B | $42.0B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.9B | $41.9B | ||
| Q2 24 | $2.8B | $41.7B |
负债/权益比BWXTLHX
| Q1 26 | — | 0.53× | ||
| Q4 25 | — | 0.56× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.56× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $56.8M | — |
| 自由现金流率自由现金流/营收 | 6.4% | — |
| 资本支出强度资本支出/营收 | 7.9% | — |
| 现金转化率经营现金流/净利润 | 1.37× | — |
| 过去12个月自由现金流最近4个季度 | $295.3M | — |
8季度趋势，按日历期对齐
经营现金流BWXTLHX
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $546.0M | ||
| Q3 25 | $143.2M | — | ||
| Q2 25 | $159.0M | $640.0M | ||
| Q1 25 | $50.6M | $1.1B | ||
| Q4 24 | $276.9M | — | ||
| Q3 24 | $32.6M | $780.0M | ||
| Q2 24 | $65.9M | $754.0M |
自由现金流BWXTLHX
| Q1 26 | — | — | ||
| Q4 25 | $56.8M | $427.0M | ||
| Q3 25 | $94.9M | — | ||
| Q2 25 | $126.3M | $552.0M | ||
| Q1 25 | $17.3M | $1.0B | ||
| Q4 24 | $224.4M | — | ||
| Q3 24 | $-7.7M | $702.0M | ||
| Q2 24 | $35.5M | $657.0M |
自由现金流率BWXTLHX
| Q1 26 | — | — | ||
| Q4 25 | 6.4% | 7.5% | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 16.5% | 10.2% | ||
| Q1 25 | 2.5% | 18.3% | ||
| Q4 24 | 30.1% | — | ||
| Q3 24 | -1.1% | 13.3% | ||
| Q2 24 | 5.2% | 12.4% |
资本支出强度BWXTLHX
| Q1 26 | — | — | ||
| Q4 25 | 7.9% | 2.1% | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 4.3% | 1.6% | ||
| Q1 25 | 4.9% | 2.1% | ||
| Q4 24 | 7.0% | — | ||
| Q3 24 | 6.0% | 1.5% | ||
| Q2 24 | 4.5% | 1.8% |
现金转化率BWXTLHX
| Q1 26 | — | — | ||
| Q4 25 | 1.37× | 1.18× | ||
| Q3 25 | 1.74× | — | ||
| Q2 25 | 2.03× | 1.40× | ||
| Q1 25 | 0.67× | 2.49× | ||
| Q4 24 | 3.90× | — | ||
| Q3 24 | 0.47× | 1.95× | ||
| Q2 24 | 0.90× | 2.06× |
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% |
LHX
| Space And Airborne Systems Segment | $6.9B | 32% |
| Integrated Mission Systems Segment | $6.6B | 30% |
| Communication Systems Segment | $5.7B | 26% |
| Aerojet Rocketdyne Segment | $2.8B | 13% |
