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DUCOMMUN INC（DCO）与Karman Holdings Inc.（KRMN）财务数据对比。点击上方公司名可切换其他公司
DUCOMMUN INC的季度营收约是Karman Holdings Inc.的1.6倍（$215.8M vs $134.5M）。Karman Holdings Inc.净利率更高（5.7% vs 3.4%，领先2.3%）。Karman Holdings Inc.同比增速更快（47.4% vs 9.4%）。Karman Holdings Inc.自由现金流更多（$4.0M vs $-78.8M）。过去两年Karman Holdings Inc.的营收复合增速更高（27.3% vs 6.3%）
杜科蒙是一家全球性航空航天与国防制造企业，主要供应复杂结构部件、电子系统，提供专业工程服务，覆盖商用航空、军事国防、航天领域客户，交付适用于关键航空航天场景的高可靠性解决方案。
Karman Holdings是一家美国航天与防务系统制造商，总部位于加利福尼亚州亨廷顿海滩，当前估值约40亿美元，近期已完成首次公开发行，专注为航天及国防领域提供相关系统产品及配套服务。
DCO vs KRMN — 直观对比
营收规模更大
DCO
是对方的1.6倍
$134.5M
营收增速更快
KRMN
高出38.0%
9.4%
净利率更高
KRMN
高出2.3%
3.4%
自由现金流更多
KRMN
多$82.8M
$-78.8M
两年增速更快
KRMN
近两年复合增速
6.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $215.8M | $134.5M |
| 净利润 | $7.4M | $7.7M |
| 毛利率 | 27.7% | 39.9% |
| 营业利润率 | 6.5% | 15.7% |
| 净利率 | 3.4% | 5.7% |
| 营收同比 | 9.4% | 47.4% |
| 净利润同比 | 9.9% | 358.3% |
| 每股收益（稀释后） | $0.52 | $0.06 |
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DCOKRMN
| Q4 25 | $215.8M | $134.5M | ||
| Q3 25 | $212.6M | $121.8M | ||
| Q2 25 | $202.3M | $115.1M | ||
| Q1 25 | $194.1M | $100.1M | ||
| Q4 24 | $197.3M | $91.2M | ||
| Q3 24 | $201.4M | $86.0M | ||
| Q2 24 | $197.0M | $85.0M | ||
| Q1 24 | $190.8M | $83.0M |
净利润DCOKRMN
| Q4 25 | $7.4M | $7.7M | ||
| Q3 25 | $-64.4M | $7.6M | ||
| Q2 25 | $12.6M | $6.8M | ||
| Q1 25 | $10.5M | $-4.8M | ||
| Q4 24 | $6.8M | $1.7M | ||
| Q3 24 | $10.1M | $4.3M | ||
| Q2 24 | $7.7M | $4.6M | ||
| Q1 24 | $6.8M | $2.1M |
毛利率DCOKRMN
| Q4 25 | 27.7% | 39.9% | ||
| Q3 25 | 26.6% | 41.0% | ||
| Q2 25 | 26.6% | 40.9% | ||
| Q1 25 | 26.6% | 39.4% | ||
| Q4 24 | 23.5% | 38.1% | ||
| Q3 24 | 26.2% | 39.3% | ||
| Q2 24 | 26.0% | 40.7% | ||
| Q1 24 | 24.6% | 34.9% |
营业利润率DCOKRMN
| Q4 25 | 6.5% | 15.7% | ||
| Q3 25 | -37.7% | 17.9% | ||
| Q2 25 | 8.5% | 17.5% | ||
| Q1 25 | 8.5% | 10.0% | ||
| Q4 24 | 5.3% | 15.8% | ||
| Q3 24 | 7.6% | 20.2% | ||
| Q2 24 | 7.1% | 21.5% | ||
| Q1 24 | 6.6% | 16.3% |
净利率DCOKRMN
| Q4 25 | 3.4% | 5.7% | ||
| Q3 25 | -30.3% | 6.3% | ||
| Q2 25 | 6.2% | 5.9% | ||
| Q1 25 | 5.4% | -4.8% | ||
| Q4 24 | 3.4% | 1.8% | ||
| Q3 24 | 5.0% | 5.0% | ||
| Q2 24 | 3.9% | 5.4% | ||
| Q1 24 | 3.6% | 2.6% |
每股收益（稀释后）DCOKRMN
| Q4 25 | $0.52 | $0.06 | ||
| Q3 25 | $-4.30 | $0.06 | ||
| Q2 25 | $0.82 | $0.05 | ||
| Q1 25 | $0.69 | $-0.04 | ||
| Q4 24 | $0.45 | $0.01 | ||
| Q3 24 | $0.67 | $0.03 | ||
| Q2 24 | $0.52 | $0.03 | ||
| Q1 24 | $0.46 | $0.01 |
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 | $45.3M | $34.0M |
| 总债务越低越好 | $298.8M | — |
| 股东权益账面价值 | $662.1M | $382.7M |
| 总资产 | $1.2B | $1.1B |
| 负债/权益比越低杠杆越低 | 0.45× | — |
8季度趋势，按日历期对齐
现金及短期投资DCOKRMN
| Q4 25 | $45.3M | $34.0M | ||
| Q3 25 | $50.9M | $18.7M | ||
| Q2 25 | $37.1M | $27.4M | ||
| Q1 25 | $30.7M | $113.7M | ||
| Q4 24 | $37.1M | $11.5M | ||
| Q3 24 | $37.3M | — | ||
| Q2 24 | $29.4M | — | ||
| Q1 24 | $32.1M | — |
总债务DCOKRMN
| Q4 25 | $298.8M | — | ||
| Q3 25 | $215.0M | — | ||
| Q2 25 | $218.1M | — | ||
| Q1 25 | $229.9M | — | ||
| Q4 24 | $229.8M | — | ||
| Q3 24 | $246.0M | — | ||
| Q2 24 | $250.9M | — | ||
| Q1 24 | $253.9M | — |
股东权益DCOKRMN
| Q4 25 | $662.1M | $382.7M | ||
| Q3 25 | $649.0M | $369.1M | ||
| Q2 25 | $707.8M | $361.5M | ||
| Q1 25 | $693.0M | $348.9M | ||
| Q4 24 | $682.5M | $196.0M | ||
| Q3 24 | $665.6M | $194.1M | ||
| Q2 24 | $655.9M | $189.6M | ||
| Q1 24 | $645.5M | $184.8M |
总资产DCOKRMN
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $1.2B | $968.1M | ||
| Q2 25 | $1.1B | $953.9M | ||
| Q1 25 | $1.1B | $875.4M | ||
| Q4 24 | $1.1B | $774.0M | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
负债/权益比DCOKRMN
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.33× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.37× | — | ||
| Q2 24 | 0.38× | — | ||
| Q1 24 | 0.39× | — |
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 | $-74.7M | $8.7M |
| 自由现金流经营现金流 - 资本支出 | $-78.8M | $4.0M |
| 自由现金流率自由现金流/营收 | -36.5% | 3.0% |
| 资本支出强度资本支出/营收 | 1.9% | 3.5% |
| 现金转化率经营现金流/净利润 | -10.03× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $-48.6M | $-42.5M |
8季度趋势，按日历期对齐
经营现金流DCOKRMN
| Q4 25 | $-74.7M | $8.7M | ||
| Q3 25 | $18.1M | $131.0K | ||
| Q2 25 | $22.4M | $-17.4M | ||
| Q1 25 | $771.0K | $-13.6M | ||
| Q4 24 | $18.4M | — | ||
| Q3 24 | $13.9M | — | ||
| Q2 24 | $3.5M | — | ||
| Q1 24 | $-1.6M | $3.1M |
自由现金流DCOKRMN
| Q4 25 | $-78.8M | $4.0M | ||
| Q3 25 | $16.0M | $-6.8M | ||
| Q2 25 | $18.1M | $-21.0M | ||
| Q1 25 | $-4.0M | $-18.6M | ||
| Q4 24 | $14.6M | — | ||
| Q3 24 | $12.0M | — | ||
| Q2 24 | $144.0K | — | ||
| Q1 24 | $-6.6M | $1.5M |
自由现金流率DCOKRMN
| Q4 25 | -36.5% | 3.0% | ||
| Q3 25 | 7.5% | -5.6% | ||
| Q2 25 | 9.0% | -18.2% | ||
| Q1 25 | -2.1% | -18.6% | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 5.9% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | -3.5% | 1.8% |
资本支出强度DCOKRMN
| Q4 25 | 1.9% | 3.5% | ||
| Q3 25 | 1.0% | 5.7% | ||
| Q2 25 | 2.1% | 3.2% | ||
| Q1 25 | 2.5% | 5.0% | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 2.6% | 1.9% |
现金转化率DCOKRMN
| Q4 25 | -10.03× | 1.13× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | 1.79× | -2.55× | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 2.72× | — | ||
| Q3 24 | 1.37× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | -0.24× | 1.45× |
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
DCO
| Other | $90.1M | 42% |
| Militaryand Space | $60.0M | 28% |
| Electronic Systems Segment | $31.3M | 15% |
| Commercial Aerospace | $24.8M | 11% |
| Estimate At Completion Adjustment | $6.6M | 3% |
| Industrial | $3.0M | 1% |
KRMN
| Tactical Missile And Integrated Defense Systems | $50.5M | 38% |
| Hypersonic And Strategic Missile Defense | $48.4M | 36% |
| Space And Launch | $35.7M | 27% |
