vs
华特迪士尼（DIS）与伟创力（FLEX）财务数据对比。点击上方公司名可切换其他公司
华特迪士尼的季度营收约是伟创力的3.4倍（$25.2B vs $7.5B），华特迪士尼净利率更高（9.8% vs 3.3%，领先6.5%），伟创力同比增速更快（16.9% vs 6.5%），华特迪士尼自由现金流更多（$4.9B vs $212.0M），过去两年伟创力的营收复合增速更高（8.8% vs 4.3%）
华特迪士尼是总部位于美国加利福尼亚州伯班克的跨国大众传媒及娱乐综合集团，1923年10月16日由华特·迪士尼与罗伊·奥利弗·迪士尼兄弟以动画工作室名义创立，后数度更名，于1986年正式采用现名，在全球娱乐产业拥有极高影响力。
伟创力（Flex Ltd.）是一家拥有新加坡与美国背景的跨国制造企业，按营收计算为全球第三大电子制造服务（EMS）及原始设计制造商（ODM），仅次于和硕。其美国总部位于得克萨斯州奥斯汀，在30多个国家设有生产基地，员工总数约17.2万人。
DIS vs FLEX — 直观对比
营收规模更大
DIS
是对方的3.4倍
$7.5B
营收增速更快
FLEX
高出10.3%
6.5%
净利率更高
DIS
高出6.5%
3.3%
自由现金流更多
DIS
多$4.7B
$212.0M
两年增速更快
FLEX
近两年复合增速
4.3%
损益表 — Q2 FY2026 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $25.2B | $7.5B |
| 净利润 | $2.5B | $250.0M |
| 毛利率 | — | 9.4% |
| 营业利润率 | 5.3% | 5.0% |
| 净利率 | 9.8% | 3.3% |
| 营收同比 | 6.5% | 16.9% |
| 净利润同比 | -18.1% | 12.6% |
| 每股收益（稀释后） | $1.27 | $0.67 |
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DISFLEX
| Q1 26 | $25.2B | $7.5B | ||
| Q4 25 | $26.0B | $7.1B | ||
| Q3 25 | $22.5B | $6.8B | ||
| Q2 25 | $23.6B | $6.6B | ||
| Q1 25 | $23.6B | $6.4B | ||
| Q4 24 | $24.7B | $6.6B | ||
| Q3 24 | $22.6B | $6.5B | ||
| Q2 24 | $23.2B | $6.3B |
净利润DISFLEX
| Q1 26 | $2.5B | $250.0M | ||
| Q4 25 | $2.4B | $239.0M | ||
| Q3 25 | $1.3B | $199.0M | ||
| Q2 25 | $5.3B | $192.0M | ||
| Q1 25 | $3.3B | $222.0M | ||
| Q4 24 | $2.6B | $263.0M | ||
| Q3 24 | $460.0M | $214.0M | ||
| Q2 24 | $2.6B | $139.0M |
毛利率DISFLEX
| Q1 26 | — | 9.4% | ||
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | — | 7.5% |
营业利润率DISFLEX
| Q1 26 | 5.3% | 5.0% | ||
| Q4 25 | 17.7% | 5.5% | ||
| Q3 25 | 15.5% | 4.4% | ||
| Q2 25 | 19.3% | 4.7% | ||
| Q1 25 | 18.8% | 4.8% | ||
| Q4 24 | 20.5% | 5.1% | ||
| Q3 24 | 16.2% | 4.5% | ||
| Q2 24 | 18.2% | 3.7% |
净利率DISFLEX
| Q1 26 | 9.8% | 3.3% | ||
| Q4 25 | 9.2% | 3.4% | ||
| Q3 25 | 5.8% | 2.9% | ||
| Q2 25 | 22.2% | 2.9% | ||
| Q1 25 | 13.9% | 3.5% | ||
| Q4 24 | 10.3% | 4.0% | ||
| Q3 24 | 2.0% | 3.3% | ||
| Q2 24 | 11.3% | 2.2% |
每股收益（稀释后）DISFLEX
| Q1 26 | $1.27 | $0.67 | ||
| Q4 25 | $1.34 | $0.64 | ||
| Q3 25 | $0.72 | $0.52 | ||
| Q2 25 | $2.92 | $0.50 | ||
| Q1 25 | $1.81 | $0.56 | ||
| Q4 24 | $1.40 | $0.67 | ||
| Q3 24 | $0.26 | $0.54 | ||
| Q2 24 | $1.43 | $0.34 |
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 | $5.7B | $2.4B |
| 总债务越低越好 | — | $3.8B |
| 股东权益账面价值 | $115.3B | $5.1B |
| 总资产 | $205.2B | $22.1B |
| 负债/权益比越低杠杆越低 | — | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资DISFLEX
| Q1 26 | $5.7B | $2.4B | ||
| Q4 25 | $5.7B | $3.1B | ||
| Q3 25 | $5.7B | $2.2B | ||
| Q2 25 | $5.4B | $2.2B | ||
| Q1 25 | $5.9B | $2.3B | ||
| Q4 24 | $5.5B | $2.3B | ||
| Q3 24 | $6.0B | $2.6B | ||
| Q2 24 | $6.0B | $2.2B |
总债务DISFLEX
| Q1 26 | — | $3.8B | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | $42.0B | $3.7B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $45.8B | $3.7B | ||
| Q2 24 | — | $3.2B |
股东权益DISFLEX
| Q1 26 | $115.3B | $5.1B | ||
| Q4 25 | $108.5B | $5.1B | ||
| Q3 25 | $109.9B | $5.0B | ||
| Q2 25 | $109.1B | $5.1B | ||
| Q1 25 | $104.3B | $5.0B | ||
| Q4 24 | $101.9B | $5.0B | ||
| Q3 24 | $100.7B | $5.0B | ||
| Q2 24 | $100.6B | $5.0B |
总资产DISFLEX
| Q1 26 | $205.2B | $22.1B | ||
| Q4 25 | $202.1B | $20.8B | ||
| Q3 25 | $197.5B | $19.5B | ||
| Q2 25 | $196.6B | $19.1B | ||
| Q1 25 | $195.8B | $18.4B | ||
| Q4 24 | $197.0B | $18.3B | ||
| Q3 24 | $196.2B | $18.6B | ||
| Q2 24 | $197.8B | $17.7B |
负债/权益比DISFLEX
| Q1 26 | — | 0.73× | ||
| Q4 25 | — | 0.87× | ||
| Q3 25 | 0.38× | 0.73× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | 0.45× | 0.74× | ||
| Q2 24 | — | 0.64× |
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 | — | $413.0M |
| 自由现金流经营现金流 - 资本支出 | $4.9B | $212.0M |
| 自由现金流率自由现金流/营收 | 19.6% | 2.8% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 1.65× |
| 过去12个月自由现金流最近4个季度 | $7.1B | $1.1B |
8季度趋势，按日历期对齐
经营现金流DISFLEX
| Q1 26 | — | $413.0M | ||
| Q4 25 | $735.0M | $420.0M | ||
| Q3 25 | $4.5B | $453.0M | ||
| Q2 25 | $3.7B | $399.0M | ||
| Q1 25 | $6.8B | $433.0M | ||
| Q4 24 | $3.2B | $413.0M | ||
| Q3 24 | $5.5B | $319.0M | ||
| Q2 24 | $2.6B | $340.0M |
自由现金流DISFLEX
| Q1 26 | $4.9B | $212.0M | ||
| Q4 25 | $-2.3B | $272.0M | ||
| Q3 25 | $2.6B | $303.0M | ||
| Q2 25 | $1.9B | $266.0M | ||
| Q1 25 | $4.9B | $321.0M | ||
| Q4 24 | $739.0M | $301.0M | ||
| Q3 24 | $4.0B | $216.0M | ||
| Q2 24 | $1.2B | $229.0M |
自由现金流率DISFLEX
| Q1 26 | 19.6% | 2.8% | ||
| Q4 25 | -8.8% | 3.9% | ||
| Q3 25 | 11.4% | 4.5% | ||
| Q2 25 | 8.0% | 4.0% | ||
| Q1 25 | 20.7% | 5.0% | ||
| Q4 24 | 3.0% | 4.6% | ||
| Q3 24 | 17.8% | 3.3% | ||
| Q2 24 | 5.3% | 3.6% |
资本支出强度DISFLEX
| Q1 26 | — | — | ||
| Q4 25 | 11.6% | 2.1% | ||
| Q3 25 | 8.5% | 2.2% | ||
| Q2 25 | 7.5% | 2.0% | ||
| Q1 25 | 7.9% | 1.8% | ||
| Q4 24 | 10.0% | 1.7% | ||
| Q3 24 | 6.6% | 1.6% | ||
| Q2 24 | 5.9% | 1.8% |
现金转化率DISFLEX
| Q1 26 | — | 1.65× | ||
| Q4 25 | 0.31× | 1.76× | ||
| Q3 25 | 3.41× | 2.28× | ||
| Q2 25 | 0.70× | 2.08× | ||
| Q1 25 | 2.06× | 1.95× | ||
| Q4 24 | 1.25× | 1.57× | ||
| Q3 24 | 12.00× | 1.49× | ||
| Q2 24 | 0.99× | 2.45× |
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
DIS
| Entertainment | $11.7B | 47% |
| Experiences | $9.5B | 38% |
| Sports | $4.6B | 18% |
FLEX
暂无分部数据
