vs
约翰迪尔（DE）与L3Harris（LHX）财务数据对比。点击上方公司名可切换其他公司
L3Harris的季度营收约是约翰迪尔的1.8倍（$21.9B vs $12.4B），约翰迪尔同比增速更快（11.2% vs 2.5%），过去两年L3Harris的营收复合增速更高（102.4% vs 0.9%）
迪尔公司（商用品牌为约翰迪尔）是美国大型制造企业，核心业务涵盖农业机械、重型设备、林业机械、柴油发动机、重型设备传动系统及园艺养护设备的研发生产，同时配套提供金融服务及相关衍生业务，在全球农机与重工领域拥有领先市场地位。
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。
DE vs LHX — 直观对比
营收规模更大
LHX
是对方的1.8倍
$12.4B
营收增速更快
DE
高出8.7%
2.5%
两年增速更快
LHX
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $12.4B | $21.9B |
| 净利润 | $1.1B | — |
| 毛利率 | — | 25.7% |
| 营业利润率 | 11.5% | 9.7% |
| 净利率 | 8.6% | — |
| 营收同比 | 11.2% | 2.5% |
| 净利润同比 | -14.5% | — |
| 每股收益（稀释后） | $3.92 | — |
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DELHX
| Q1 26 | — | $21.9B | ||
| Q4 25 | $12.4B | $5.7B | ||
| Q3 25 | $12.0B | — | ||
| Q2 25 | $12.8B | $5.4B | ||
| Q1 25 | $8.5B | $5.5B | ||
| Q4 24 | $11.1B | — | ||
| Q3 24 | $13.2B | $5.3B | ||
| Q2 24 | $15.2B | $5.3B |
净利润DELHX
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $462.0M | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.8B | $458.0M | ||
| Q1 25 | $869.0M | $453.0M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.7B | $400.0M | ||
| Q2 24 | $2.4B | $366.0M |
毛利率DELHX
| Q1 26 | — | 25.7% | ||
| Q4 25 | — | 26.4% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 24.6% | ||
| Q1 25 | — | 25.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 26.8% | ||
| Q2 24 | — | 25.7% |
营业利润率DELHX
| Q1 26 | — | 9.7% | ||
| Q4 25 | 11.5% | 11.0% | ||
| Q3 25 | 13.3% | — | ||
| Q2 25 | 18.3% | 10.5% | ||
| Q1 25 | 10.5% | 10.3% | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | 17.9% | 9.4% | ||
| Q2 24 | 20.5% | 9.0% |
净利率DELHX
| Q1 26 | — | — | ||
| Q4 25 | 8.6% | 8.2% | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | 14.1% | 8.4% | ||
| Q1 25 | 10.2% | 8.2% | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | 13.2% | 7.6% | ||
| Q2 24 | 15.6% | 6.9% |
每股收益（稀释后）DELHX
| Q1 26 | — | — | ||
| Q4 25 | $3.92 | $2.46 | ||
| Q3 25 | $4.75 | — | ||
| Q2 25 | $6.64 | $2.44 | ||
| Q1 25 | $3.19 | $2.37 | ||
| Q4 24 | $4.57 | — | ||
| Q3 24 | $6.29 | $2.10 | ||
| Q2 24 | $8.53 | $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 | $8.3B | $1.1B |
| 总债务越低越好 | — | $10.4B |
| 股东权益账面价值 | $25.9B | $19.6B |
| 总资产 | $106.0B | $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DELHX
| Q1 26 | — | $1.1B | ||
| Q4 25 | $8.3B | $339.0M | ||
| Q3 25 | $8.6B | — | ||
| Q2 25 | $8.0B | $482.0M | ||
| Q1 25 | $6.6B | $615.0M | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | $7.0B | $539.0M | ||
| Q2 24 | $5.6B | $547.0M |
总债务DELHX
| 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DELHX
| Q1 26 | — | $19.6B | ||
| Q4 25 | $25.9B | $19.5B | ||
| Q3 25 | $25.2B | — | ||
| Q2 25 | $24.3B | $19.3B | ||
| Q1 25 | $22.5B | $19.5B | ||
| Q4 24 | $22.8B | — | ||
| Q3 24 | $23.1B | $19.0B | ||
| Q2 24 | $22.7B | $18.8B |
总资产DELHX
| Q1 26 | — | $41.2B | ||
| Q4 25 | $106.0B | $41.0B | ||
| Q3 25 | $107.8B | — | ||
| Q2 25 | $106.3B | $41.2B | ||
| Q1 25 | $103.1B | $42.0B | ||
| Q4 24 | $107.3B | — | ||
| Q3 24 | $107.8B | $41.9B | ||
| Q2 24 | $105.6B | $41.7B |
负债/权益比DELHX
| 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 | $4.0B | — |
| 自由现金流经营现金流 - 资本支出 | $3.5B | — |
| 自由现金流率自由现金流/营收 | 28.1% | — |
| 资本支出强度资本支出/营收 | 4.1% | — |
| 现金转化率经营现金流/净利润 | 3.75× | — |
| 过去12个月自由现金流最近4个季度 | $6.1B | — |
8季度趋势，按日历期对齐
经营现金流DELHX
| Q1 26 | — | — | ||
| Q4 25 | $4.0B | $546.0M | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $1.7B | $640.0M | ||
| Q1 25 | $-1.1B | $1.1B | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $3.2B | $780.0M | ||
| Q2 24 | $1.9B | $754.0M |
自由现金流DELHX
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $427.0M | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $1.5B | $552.0M | ||
| Q1 25 | $-1.5B | $1.0B | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $2.9B | $702.0M | ||
| Q2 24 | $1.5B | $657.0M |
自由现金流率DELHX
| Q1 26 | — | — | ||
| Q4 25 | 28.1% | 7.5% | ||
| Q3 25 | 21.6% | — | ||
| Q2 25 | 11.7% | 10.2% | ||
| Q1 25 | -17.4% | 18.3% | ||
| Q4 24 | 40.3% | — | ||
| Q3 24 | 21.8% | 13.3% | ||
| Q2 24 | 9.8% | 12.4% |
资本支出强度DELHX
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | 2.1% | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 1.6% | 1.6% | ||
| Q1 25 | 4.1% | 2.1% | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 2.5% | 1.5% | ||
| Q2 24 | 2.3% | 1.8% |
现金转化率DELHX
| Q1 26 | — | — | ||
| Q4 25 | 3.75× | 1.18× | ||
| Q3 25 | 2.25× | — | ||
| Q2 25 | 0.94× | 1.40× | ||
| Q1 25 | -1.30× | 2.49× | ||
| Q4 24 | 4.09× | — | ||
| Q3 24 | 1.84× | 1.95× | ||
| Q2 24 | 0.78× | 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
DE
| Production And Precision Agriculture Segment | $2.0B | 16% |
| Construction And Forestry Segment | $2.0B | 16% |
| Small Agriculture | $1.8B | 15% |
| Financial Service | $1.5B | 12% |
| Construction Equipment | $1.4B | 11% |
| Small Agriculture And Turf Segment | $1.2B | 9% |
| Roadbuilding | $994.0M | 8% |
| Compact Construction Equipment | $564.0M | 5% |
| Forestry | $352.0M | 3% |
| Other | $300.0M | 2% |
| Other Products And Services | $146.0M | 1% |
| Financial Products | $80.0M | 1% |
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% |
