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柯蒂斯-莱特（CW）与3M（MMM）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是柯蒂斯-莱特的6.4倍（$6.0B vs $947.0M）。柯蒂斯-莱特净利率更高（14.5% vs 10.8%，领先3.6%）。柯蒂斯-莱特同比增速更快（14.9% vs 1.3%）。3M自由现金流更多（$2.0B vs $315.1M）。过去两年柯蒂斯-莱特的营收复合增速更高（15.2% vs -1.8%）
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。
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
CW vs MMM — 直观对比
营收规模更大
MMM
是对方的6.4倍
$947.0M
营收增速更快
CW
高出13.6%
1.3%
净利率更高
CW
高出3.6%
10.8%
自由现金流更多
MMM
多$1.7B
$315.1M
两年增速更快
CW
近两年复合增速
-1.8%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $6.0B |
| 净利润 | $137.0M | $653.0M |
| 毛利率 | 37.5% | 40.7% |
| 营业利润率 | 19.2% | 23.2% |
| 净利率 | 14.5% | 10.8% |
| 营收同比 | 14.9% | 1.3% |
| 净利润同比 | 16.2% | -41.5% |
| 每股收益（稀释后） | $3.69 | $1.23 |
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CWMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $947.0M | $6.1B | ||
| Q3 25 | $869.2M | $6.5B | ||
| Q2 25 | $876.6M | $6.3B | ||
| Q1 25 | $805.6M | $6.0B | ||
| Q4 24 | $824.3M | $6.0B | ||
| Q3 24 | $798.9M | $6.3B | ||
| Q2 24 | $784.8M | $6.3B |
净利润CWMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $137.0M | $577.0M | ||
| Q3 25 | $124.8M | $834.0M | ||
| Q2 25 | $121.1M | $723.0M | ||
| Q1 25 | $101.3M | $1.1B | ||
| Q4 24 | $117.9M | $728.0M | ||
| Q3 24 | $111.2M | $1.4B | ||
| Q2 24 | $99.5M | $1.1B |
毛利率CWMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | 37.5% | 33.6% | ||
| Q3 25 | 37.7% | 41.8% | ||
| Q2 25 | 37.2% | 42.5% | ||
| Q1 25 | 36.3% | 41.6% | ||
| Q4 24 | 38.5% | 51.7% | ||
| Q3 24 | 37.3% | 42.1% | ||
| Q2 24 | 36.2% | 42.9% |
营业利润率CWMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | 19.2% | 13.0% | ||
| Q3 25 | 19.1% | 22.2% | ||
| Q2 25 | 17.8% | 18.0% | ||
| Q1 25 | 16.0% | 20.9% | ||
| Q4 24 | 18.8% | 12.2% | ||
| Q3 24 | 18.1% | 20.9% | ||
| Q2 24 | 16.4% | 20.3% |
净利率CWMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | 14.5% | 9.4% | ||
| Q3 25 | 14.4% | 12.8% | ||
| Q2 25 | 13.8% | 11.4% | ||
| Q1 25 | 12.6% | 18.7% | ||
| Q4 24 | 14.3% | 12.1% | ||
| Q3 24 | 13.9% | 21.8% | ||
| Q2 24 | 12.7% | 18.3% |
每股收益（稀释后）CWMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | $3.69 | $1.07 | ||
| Q3 25 | $3.31 | $1.55 | ||
| Q2 25 | $3.19 | $1.34 | ||
| Q1 25 | $2.68 | $2.04 | ||
| Q4 24 | $3.09 | $1.33 | ||
| Q3 24 | $2.89 | $2.48 | ||
| Q2 24 | $2.58 | $2.07 |
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 | — | $3.7B |
| 总债务越低越好 | $957.9M | $10.9B |
| 股东权益账面价值 | $2.5B | $3.3B |
| 总资产 | $5.2B | $35.4B |
| 负债/权益比越低杠杆越低 | 0.38× | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资CWMMM
| Q1 26 | — | $3.7B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $226.5M | — | ||
| Q4 24 | $385.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总债务CWMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | $957.9M | $12.6B | ||
| Q3 25 | $968.6M | $12.6B | ||
| Q2 25 | $958.4M | $13.1B | ||
| Q1 25 | $958.6M | $13.5B | ||
| Q4 24 | $1.0B | $13.0B | ||
| Q3 24 | $1.0B | $13.2B | ||
| Q2 24 | $1.0B | $13.1B |
股东权益CWMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | $2.5B | $4.7B | ||
| Q3 25 | $2.5B | $4.6B | ||
| Q2 25 | $2.7B | $4.3B | ||
| Q1 25 | $2.6B | $4.5B | ||
| Q4 24 | $2.4B | $3.8B | ||
| Q3 24 | $2.5B | $4.6B | ||
| Q2 24 | $2.5B | $3.9B |
总资产CWMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $5.2B | $37.7B | ||
| Q3 25 | $5.1B | $37.6B | ||
| Q2 25 | $5.2B | $38.0B | ||
| Q1 25 | $5.0B | $40.0B | ||
| Q4 24 | $5.0B | $39.9B | ||
| Q3 24 | $4.9B | $40.9B | ||
| Q2 24 | $4.7B | $43.4B |
负债/权益比CWMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | 0.38× | 2.68× | ||
| Q3 25 | 0.38× | 2.72× | ||
| Q2 25 | 0.35× | 3.06× | ||
| Q1 25 | 0.37× | 3.02× | ||
| Q4 24 | 0.43× | 3.40× | ||
| Q3 24 | 0.42× | 2.84× | ||
| Q2 24 | 0.43× | 3.34× |
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 | $352.7M | — |
| 自由现金流经营现金流 - 资本支出 | $315.1M | $2.0B |
| 自由现金流率自由现金流/营收 | 33.3% | 33.6% |
| 资本支出强度资本支出/营收 | 4.0% | — |
| 现金转化率经营现金流/净利润 | 2.57× | — |
| 过去12个月自由现金流最近4个季度 | $553.7M | $3.7B |
8季度趋势，按日历期对齐
经营现金流CWMMM
| Q1 26 | — | — | ||
| Q4 25 | $352.7M | $1.6B | ||
| Q3 25 | $192.8M | $1.8B | ||
| Q2 25 | $136.6M | $-954.0M | ||
| Q1 25 | $-38.8M | $-79.0M | ||
| Q4 24 | $301.3M | $1.8B | ||
| Q3 24 | $177.3M | $-1.8B | ||
| Q2 24 | $111.3M | $1.0B |
自由现金流CWMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $315.1M | $1.3B | ||
| Q3 25 | $175.9M | $1.5B | ||
| Q2 25 | $117.2M | $-1.2B | ||
| Q1 25 | $-54.5M | $-315.0M | ||
| Q4 24 | $278.0M | $1.5B | ||
| Q3 24 | $162.7M | $-2.0B | ||
| Q2 24 | $100.3M | $752.0M |
自由现金流率CWMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | 33.3% | 21.8% | ||
| Q3 25 | 20.2% | 23.6% | ||
| Q2 25 | 13.4% | -18.3% | ||
| Q1 25 | -6.8% | -5.3% | ||
| Q4 24 | 33.7% | 25.4% | ||
| Q3 24 | 20.4% | -32.3% | ||
| Q2 24 | 12.8% | 12.0% |
资本支出强度CWMMM
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 4.0% | ||
| Q3 25 | 1.9% | 3.3% | ||
| Q2 25 | 2.2% | 3.3% | ||
| Q1 25 | 2.0% | 4.0% | ||
| Q4 24 | 2.8% | 4.8% | ||
| Q3 24 | 1.8% | 3.9% | ||
| Q2 24 | 1.4% | 4.3% |
现金转化率CWMMM
| Q1 26 | — | — | ||
| Q4 25 | 2.57× | 2.74× | ||
| Q3 25 | 1.54× | 2.11× | ||
| Q2 25 | 1.13× | -1.32× | ||
| Q1 25 | -0.38× | -0.07× | ||
| Q4 24 | 2.56× | 2.50× | ||
| Q3 24 | 1.59× | -1.30× | ||
| Q2 24 | 1.12× | 0.89× |
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
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
