vs
丹纳赫（DHR）与Leidos（LDOS）财务数据对比。点击上方公司名可切换其他公司
丹纳赫的季度营收约是Leidos的1.4倍（$6.0B vs $4.2B），丹纳赫净利率更高（17.3% vs 7.8%，领先9.5%），丹纳赫同比增速更快（3.7% vs -3.5%），丹纳赫自由现金流更多（$1.1B vs $452.0M），过去两年Leidos的营收复合增速更高（3.1% vs 1.8%）
丹纳赫是总部位于美国华盛顿特区的医疗健康企业，聚焦生物技术、生命科学与诊断领域的产品研发。公司下设三大业务板块：生物技术板块开发治疗相关产品，生命科学板块覆盖疾病溯源、新疗法研发、药物疫苗与基因编辑技术的测试生产，诊断板块研发检测仪器，为全球生命健康产业提供核心支持。
Leidos Holdings, Inc.是总部位于美国弗吉尼亚州雷斯顿的企业，业务覆盖国防、航空、信息技术、生物医学研究领域，提供科研、工程、系统集成及技术服务。其前身为科学应用国际公司（SAIC），2016年8月与洛克希德·马丁旗下IT业务板块合并，成为国防行业规模最大的IT服务提供商。
DHR vs LDOS — 直观对比
营收规模更大
DHR
是对方的1.4倍
$4.2B
营收增速更快
DHR
高出7.2%
-3.5%
净利率更高
DHR
高出9.5%
7.8%
自由现金流更多
DHR
多$633.0M
$452.0M
两年增速更快
LDOS
近两年复合增速
1.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $4.2B |
| 净利润 | $1.0B | $327.0M |
| 毛利率 | 60.3% | 17.4% |
| 营业利润率 | 22.6% | 11.3% |
| 净利率 | 17.3% | 7.8% |
| 营收同比 | 3.7% | -3.5% |
| 净利润同比 | 7.9% | 15.1% |
| 每股收益（稀释后） | $1.45 | $2.54 |
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DHRLDOS
| Q1 26 | $6.0B | $4.2B | ||
| Q4 25 | $6.8B | $4.4B | ||
| Q3 25 | $6.1B | $4.2B | ||
| Q2 25 | $5.9B | $4.2B | ||
| Q1 25 | $5.7B | $4.3B | ||
| Q4 24 | $6.5B | — | ||
| Q3 24 | $5.8B | $4.2B | ||
| Q2 24 | $5.7B | $4.1B |
净利润DHRLDOS
| Q1 26 | $1.0B | $327.0M | ||
| Q4 25 | $1.2B | $367.0M | ||
| Q3 25 | $908.0M | $391.0M | ||
| Q2 25 | $555.0M | $363.0M | ||
| Q1 25 | $954.0M | $284.0M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $818.0M | $364.0M | ||
| Q2 24 | $907.0M | $322.0M |
毛利率DHRLDOS
| Q1 26 | 60.3% | 17.4% | ||
| Q4 25 | 58.0% | 18.0% | ||
| Q3 25 | 58.2% | 18.0% | ||
| Q2 25 | 59.3% | 17.5% | ||
| Q1 25 | 61.2% | 15.6% | ||
| Q4 24 | 59.5% | — | ||
| Q3 24 | 58.7% | 17.8% | ||
| Q2 24 | 59.7% | 16.6% |
营业利润率DHRLDOS
| Q1 26 | 22.6% | 11.3% | ||
| Q4 25 | 22.0% | 12.0% | ||
| Q3 25 | 19.1% | 13.5% | ||
| Q2 25 | 12.8% | 12.5% | ||
| Q1 25 | 22.2% | 9.7% | ||
| Q4 24 | 21.8% | — | ||
| Q3 24 | 16.5% | 12.4% | ||
| Q2 24 | 20.3% | 11.6% |
净利率DHRLDOS
| Q1 26 | 17.3% | 7.8% | ||
| Q4 25 | 17.5% | 8.2% | ||
| Q3 25 | 15.0% | 9.2% | ||
| Q2 25 | 9.3% | 8.6% | ||
| Q1 25 | 16.6% | 6.5% | ||
| Q4 24 | 16.6% | — | ||
| Q3 24 | 14.1% | 8.7% | ||
| Q2 24 | 15.8% | 7.8% |
每股收益（稀释后）DHRLDOS
| Q1 26 | $1.45 | $2.54 | ||
| Q4 25 | $1.69 | $2.82 | ||
| Q3 25 | $1.27 | $3.01 | ||
| Q2 25 | $0.77 | $2.77 | ||
| Q1 25 | $1.32 | $2.10 | ||
| Q4 24 | $1.50 | — | ||
| Q3 24 | $1.12 | $2.68 | ||
| Q2 24 | $1.22 | $2.37 |
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 | — | $1.1B |
| 总债务越低越好 | — | $4.6B |
| 股东权益账面价值 | — | $4.9B |
| 总资产 | — | $13.5B |
| 负债/权益比越低杠杆越低 | — | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资DHRLDOS
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | $974.0M | ||
| Q3 25 | — | $930.0M | ||
| Q2 25 | — | $842.0M | ||
| Q1 25 | — | $943.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $823.0M |
总债务DHRLDOS
| Q1 26 | — | $4.6B | ||
| Q4 25 | $18.4B | $4.6B | ||
| Q3 25 | $16.9B | $5.0B | ||
| Q2 25 | $17.4B | $5.0B | ||
| Q1 25 | $16.5B | $4.1B | ||
| Q4 24 | $16.0B | — | ||
| Q3 24 | $17.5B | $4.1B | ||
| Q2 24 | $17.0B | $4.1B |
股东权益DHRLDOS
| Q1 26 | — | $4.9B | ||
| Q4 25 | $52.5B | $4.9B | ||
| Q3 25 | $51.1B | $4.7B | ||
| Q2 25 | $52.3B | $4.3B | ||
| Q1 25 | $50.8B | $4.4B | ||
| Q4 24 | $49.5B | — | ||
| Q3 24 | $51.3B | $4.6B | ||
| Q2 24 | $49.9B | $4.5B |
总资产DHRLDOS
| Q1 26 | — | $13.5B | ||
| Q4 25 | $83.5B | $13.5B | ||
| Q3 25 | $79.9B | $13.5B | ||
| Q2 25 | $81.6B | $13.2B | ||
| Q1 25 | $79.1B | $13.1B | ||
| Q4 24 | $77.5B | — | ||
| Q3 24 | $80.6B | $13.3B | ||
| Q2 24 | $78.6B | $12.9B |
负债/权益比DHRLDOS
| Q1 26 | — | 0.94× | ||
| Q4 25 | 0.35× | 0.94× | ||
| Q3 25 | 0.33× | 1.07× | ||
| Q2 25 | 0.33× | 1.18× | ||
| Q1 25 | 0.32× | 0.92× | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.34× | 0.88× | ||
| Q2 24 | 0.34× | 0.92× |
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 | $1.3B | $495.0M |
| 自由现金流经营现金流 - 资本支出 | $1.1B | $452.0M |
| 自由现金流率自由现金流/营收 | 18.2% | 10.8% |
| 资本支出强度资本支出/营收 | 4.0% | 1.0% |
| 现金转化率经营现金流/净利润 | 1.28× | 1.51× |
| 过去12个月自由现金流最近4个季度 | $5.3B | — |
8季度趋势，按日历期对齐
经营现金流DHRLDOS
| Q1 26 | $1.3B | $495.0M | ||
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.7B | $711.0M | ||
| Q2 25 | $1.3B | $58.0M | ||
| Q1 25 | $1.3B | $299.0M | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $1.5B | $656.0M | ||
| Q2 24 | $1.4B | $374.0M |
自由现金流DHRLDOS
| Q1 26 | $1.1B | $452.0M | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.4B | $680.0M | ||
| Q2 25 | $1.1B | $36.0M | ||
| Q1 25 | $1.1B | $213.0M | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.2B | $633.0M | ||
| Q2 24 | $1.1B | $351.0M |
自由现金流率DHRLDOS
| Q1 26 | 18.2% | 10.8% | ||
| Q4 25 | 25.5% | — | ||
| Q3 25 | 22.6% | 16.1% | ||
| Q2 25 | 18.4% | 0.9% | ||
| Q1 25 | 18.4% | 4.9% | ||
| Q4 24 | 23.0% | — | ||
| Q3 24 | 21.0% | 15.2% | ||
| Q2 24 | 19.7% | 8.5% |
资本支出强度DHRLDOS
| Q1 26 | 4.0% | 1.0% | ||
| Q4 25 | 5.4% | — | ||
| Q3 25 | 4.8% | 0.7% | ||
| Q2 25 | 4.2% | 0.5% | ||
| Q1 25 | 4.3% | 2.0% | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | 5.1% | 0.6% | ||
| Q2 24 | 5.0% | 0.6% |
现金转化率DHRLDOS
| Q1 26 | 1.28× | 1.51× | ||
| Q4 25 | 1.77× | — | ||
| Q3 25 | 1.83× | 1.82× | ||
| Q2 25 | 2.41× | 0.16× | ||
| Q1 25 | 1.36× | 1.05× | ||
| Q4 24 | 1.86× | — | ||
| Q3 24 | 1.85× | 1.80× | ||
| Q2 24 | 1.56× | 1.16× |
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
DHR
暂无分部数据
LDOS
| US Do D And US Intelligence Community | $1.4B | 32% |
| Cost Reimbursement And Fixed Price Incentive Fee | $1.0B | 24% |
| Commercial And International Segment | $609.0M | 15% |
| Defense Systems Segment | $546.0M | 13% |
| Other | $358.0M | 9% |
| Time And Materials And Fixed Price Level Of Effort | $295.0M | 7% |
| Commercial And Non US Customers | $38.0M | 1% |
