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戴德梁行（CWK）与德事隆（TXT）财务数据对比。点击上方公司名可切换其他公司
德事隆的季度营收约是戴德梁行的1.4倍（$4.2B vs $2.9B），德事隆净利率更高（5.6% vs -0.8%，领先6.4%），德事隆同比增速更快（15.6% vs 10.8%），德事隆自由现金流更多（$527.0M vs $234.3M），过去两年戴德梁行的营收复合增速更高（15.5% vs 15.4%）
戴德梁行是全球化的商业地产及物业管理服务提供商，总部位于美国伊利诺伊州芝加哥，由联合创始人J·克莱兹代尔·库什曼和伯纳德·韦克菲尔德共同创立，在全球商业地产服务领域拥有广泛的业务布局与专业服务能力，为各类客户提供定制化的地产相关解决方案。
德事隆是总部位于美国罗德岛州普罗维登斯的工业集团，1923年由罗亚尔·利特尔创立，前身为特种纱线公司。旗下拥有贝尔德事隆、考泰斯、德事隆航空、莱康明发动机等子公司，业务覆盖25个国家，2020年员工总数超3.3万人，2021年位列美国财富500强第265位。
CWK vs TXT — 直观对比
营收规模更大
TXT
是对方的1.4倍
$2.9B
营收增速更快
TXT
高出4.7%
10.8%
净利率更高
TXT
高出6.4%
-0.8%
自由现金流更多
TXT
多$292.7M
$234.3M
两年增速更快
CWK
近两年复合增速
15.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $4.2B |
| 净利润 | $-22.4M | $235.0M |
| 毛利率 | — | — |
| 营业利润率 | 6.1% | — |
| 净利率 | -0.8% | 5.6% |
| 营收同比 | 10.8% | 15.6% |
| 净利润同比 | -119.8% | 66.7% |
| 每股收益（稀释后） | $-0.10 | — |
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CWKTXT
| Q4 25 | $2.9B | $4.2B | ||
| Q3 25 | $2.6B | $3.6B | ||
| Q2 25 | $2.5B | $3.7B | ||
| Q1 25 | $2.3B | $3.3B | ||
| Q4 24 | $2.6B | $3.6B | ||
| Q3 24 | $2.3B | $3.4B | ||
| Q2 24 | $2.3B | $3.5B | ||
| Q1 24 | $2.2B | $3.1B |
净利润CWKTXT
| Q4 25 | $-22.4M | $235.0M | ||
| Q3 25 | $51.4M | $234.0M | ||
| Q2 25 | $57.3M | $245.0M | ||
| Q1 25 | $1.9M | $207.0M | ||
| Q4 24 | $112.9M | $141.0M | ||
| Q3 24 | $33.7M | $223.0M | ||
| Q2 24 | $13.5M | $259.0M | ||
| Q1 24 | $-28.8M | $201.0M |
营业利润率CWKTXT
| Q4 25 | 6.1% | — | ||
| Q3 25 | 4.1% | — | ||
| Q2 25 | 4.9% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 6.6% | 3.6% | ||
| Q3 24 | 3.2% | 7.4% | ||
| Q2 24 | 3.1% | 9.2% | ||
| Q1 24 | 0.9% | 7.6% |
净利率CWKTXT
| Q4 25 | -0.8% | 5.6% | ||
| Q3 25 | 2.0% | 6.5% | ||
| Q2 25 | 2.3% | 6.6% | ||
| Q1 25 | 0.1% | 6.3% | ||
| Q4 24 | 4.3% | 3.9% | ||
| Q3 24 | 1.4% | 6.5% | ||
| Q2 24 | 0.6% | 7.3% | ||
| Q1 24 | -1.3% | 6.4% |
每股收益（稀释后）CWKTXT
| Q4 25 | $-0.10 | — | ||
| Q3 25 | $0.22 | — | ||
| Q2 25 | $0.25 | — | ||
| Q1 25 | $0.01 | $1.13 | ||
| Q4 24 | $0.49 | — | ||
| Q3 24 | $0.14 | — | ||
| Q2 24 | $0.06 | — | ||
| Q1 24 | $-0.13 | $1.03 |
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 | $784.2M | — |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $2.0B | — |
| 总资产 | $7.7B | — |
| 负债/权益比越低杠杆越低 | 1.40× | — |
8季度趋势，按日历期对齐
现金及短期投资CWKTXT
| Q4 25 | $784.2M | — | ||
| Q3 25 | $634.4M | — | ||
| Q2 25 | $618.2M | — | ||
| Q1 25 | $623.2M | — | ||
| Q4 24 | $793.3M | — | ||
| Q3 24 | $775.4M | — | ||
| Q2 24 | $567.3M | — | ||
| Q1 24 | $553.5M | — |
总债务CWKTXT
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $3.2B | — |
股东权益CWKTXT
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.0B | $7.5B | ||
| Q2 25 | $1.9B | $7.4B | ||
| Q1 25 | $1.8B | $7.3B | ||
| Q4 24 | $1.8B | $7.2B | ||
| Q3 24 | $1.7B | $7.0B | ||
| Q2 24 | $1.6B | $6.9B | ||
| Q1 24 | $1.6B | $6.9B |
总资产CWKTXT
| Q4 25 | $7.7B | — | ||
| Q3 25 | $7.7B | $17.4B | ||
| Q2 25 | $7.6B | $17.1B | ||
| Q1 25 | $7.4B | $16.9B | ||
| Q4 24 | $7.5B | $16.8B | ||
| Q3 24 | $7.5B | $16.5B | ||
| Q2 24 | $7.3B | $16.4B | ||
| Q1 24 | $7.5B | $16.4B |
负债/权益比CWKTXT
| Q4 25 | 1.40× | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.70× | — | ||
| Q4 24 | 1.73× | — | ||
| Q3 24 | 1.81× | — | ||
| Q2 24 | 1.91× | — | ||
| Q1 24 | 1.96× | — |
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 | $257.3M | $700.0M |
| 自由现金流经营现金流 - 资本支出 | $234.3M | $527.0M |
| 自由现金流率自由现金流/营收 | 8.0% | 12.6% |
| 资本支出强度资本支出/营收 | 0.8% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 2.98× |
| 过去12个月自由现金流最近4个季度 | $293.0M | $929.0M |
8季度趋势，按日历期对齐
经营现金流CWKTXT
| Q4 25 | $257.3M | $700.0M | ||
| Q3 25 | $235.5M | $349.0M | ||
| Q2 25 | $9.6M | $387.0M | ||
| Q1 25 | $-162.0M | $-124.0M | ||
| Q4 24 | $115.2M | $446.0M | ||
| Q3 24 | $196.1M | $208.0M | ||
| Q2 24 | $21.8M | $367.0M | ||
| Q1 24 | $-125.1M | $-7.0M |
自由现金流CWKTXT
| Q4 25 | $234.3M | $527.0M | ||
| Q3 25 | $225.0M | $273.0M | ||
| Q2 25 | $300.0K | $309.0M | ||
| Q1 25 | $-166.6M | $-180.0M | ||
| Q4 24 | $105.9M | $293.0M | ||
| Q3 24 | $186.7M | $137.0M | ||
| Q2 24 | $10.0M | $293.0M | ||
| Q1 24 | $-135.6M | $-73.0M |
自由现金流率CWKTXT
| Q4 25 | 8.0% | 12.6% | ||
| Q3 25 | 8.6% | 7.6% | ||
| Q2 25 | 0.0% | 8.3% | ||
| Q1 25 | -7.3% | -5.4% | ||
| Q4 24 | 4.0% | 8.1% | ||
| Q3 24 | 8.0% | 4.0% | ||
| Q2 24 | 0.4% | 8.3% | ||
| Q1 24 | -6.2% | -2.3% |
资本支出强度CWKTXT
| Q4 25 | 0.8% | 4.1% | ||
| Q3 25 | 0.4% | 2.1% | ||
| Q2 25 | 0.4% | 2.1% | ||
| Q1 25 | 0.2% | 1.7% | ||
| Q4 24 | 0.4% | 4.2% | ||
| Q3 24 | 0.4% | 2.1% | ||
| Q2 24 | 0.5% | 2.1% | ||
| Q1 24 | 0.5% | 2.1% |
现金转化率CWKTXT
| Q4 25 | — | 2.98× | ||
| Q3 25 | 4.58× | 1.49× | ||
| Q2 25 | 0.17× | 1.58× | ||
| Q1 25 | -85.26× | -0.60× | ||
| Q4 24 | 1.02× | 3.16× | ||
| Q3 24 | 5.82× | 0.93× | ||
| Q2 24 | 1.61× | 1.42× | ||
| Q1 24 | — | -0.03× |
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
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
TXT
| Aircraft | $1.2B | 29% |
| Military Aircraft And Support Programs | $655.0M | 16% |
| Aftermarket Parts And Services | $551.0M | 13% |
| Services | $507.0M | 12% |
| Fuel Systems And Functional Components | $480.0M | 11% |
| Textron Systems | $323.0M | 8% |
| Other | $317.0M | 8% |
| US Government | $119.0M | 3% |
| Finance | $18.0M | 0% |
| Textron E Aviation Segment | $7.0M | 0% |
