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DLH Holdings Corp.（DLHC）与null（SWIM）财务数据对比。点击上方公司名可切换其他公司
null的季度营收约是DLH Holdings Corp.的1.5倍（$100.0M vs $68.9M），DLH Holdings Corp.净利率更高（-1.9% vs -7.0%，领先5.1%），null同比增速更快（14.5% vs -24.1%），null自由现金流更多（$14.1M vs $-4.8M），过去两年null的营收复合增速更高（-4.9% vs -17.4%）
DLH Holdings Corp.是一家总部位于美国的政府服务供应商，主要为退伍军人事务部、国防部、卫生与公众服务部等联邦机构提供技术赋能的医疗、物流、工程及任务支持服务，同时服务部分州及地方公共部门客户。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
DLHC vs SWIM — 直观对比
营收规模更大
SWIM
是对方的1.5倍
$68.9M
营收增速更快
SWIM
高出38.6%
-24.1%
净利率更高
DLHC
高出5.1%
-7.0%
自由现金流更多
SWIM
多$18.9M
$-4.8M
两年增速更快
SWIM
近两年复合增速
-17.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $68.9M | $100.0M |
| 净利润 | $-1.3M | $-7.0M |
| 毛利率 | — | 28.0% |
| 营业利润率 | 2.1% | -10.7% |
| 净利率 | -1.9% | -7.0% |
| 营收同比 | -24.1% | 14.5% |
| 净利润同比 | -218.7% | 76.0% |
| 每股收益（稀释后） | $-0.09 | $-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DLHCSWIM
| Q4 25 | $68.9M | $100.0M | ||
| Q3 25 | $81.2M | $161.9M | ||
| Q2 25 | $83.3M | $172.6M | ||
| Q1 25 | $89.2M | $111.4M | ||
| Q4 24 | $90.8M | $87.3M | ||
| Q3 24 | $96.4M | $150.5M | ||
| Q2 24 | $100.7M | $160.1M | ||
| Q1 24 | $101.0M | $110.6M |
净利润DLHCSWIM
| Q4 25 | $-1.3M | $-7.0M | ||
| Q3 25 | $-920.0K | $8.1M | ||
| Q2 25 | $289.0K | $16.0M | ||
| Q1 25 | $878.0K | $-6.0M | ||
| Q4 24 | $1.1M | $-29.2M | ||
| Q3 24 | $2.3M | $5.9M | ||
| Q2 24 | $1.1M | $13.3M | ||
| Q1 24 | $1.8M | $-7.9M |
毛利率DLHCSWIM
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
营业利润率DLHCSWIM
| Q4 25 | 2.1% | -10.7% | ||
| Q3 25 | 2.8% | 13.3% | ||
| Q2 25 | 4.5% | 14.3% | ||
| Q1 25 | 5.7% | -4.4% | ||
| Q4 24 | 6.2% | -14.9% | ||
| Q3 24 | 6.6% | 8.9% | ||
| Q2 24 | 5.7% | 12.5% | ||
| Q1 24 | 5.9% | -1.9% |
净利率DLHCSWIM
| Q4 25 | -1.9% | -7.0% | ||
| Q3 25 | -1.1% | 5.0% | ||
| Q2 25 | 0.3% | 9.3% | ||
| Q1 25 | 1.0% | -5.4% | ||
| Q4 24 | 1.2% | -33.4% | ||
| Q3 24 | 2.4% | 3.9% | ||
| Q2 24 | 1.1% | 8.3% | ||
| Q1 24 | 1.8% | -7.1% |
每股收益（稀释后）DLHCSWIM
| Q4 25 | $-0.09 | $-0.06 | ||
| Q3 25 | $-0.07 | $0.07 | ||
| Q2 25 | $0.02 | $0.13 | ||
| Q1 25 | $0.06 | $-0.05 | ||
| Q4 24 | $0.08 | $-0.24 | ||
| Q3 24 | $0.16 | $0.05 | ||
| Q2 24 | $0.08 | $0.11 | ||
| Q1 24 | $0.12 | $-0.07 |
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 | $257.0K | — |
| 总债务越低越好 | $133.5M | $279.8M |
| 股东权益账面价值 | $112.2M | $405.9M |
| 总资产 | $283.5M | $823.2M |
| 负债/权益比越低杠杆越低 | 1.19× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资DLHCSWIM
| Q4 25 | $257.0K | — | ||
| Q3 25 | $125.0K | — | ||
| Q2 25 | $194.0K | — | ||
| Q1 25 | $196.0K | — | ||
| Q4 24 | $451.0K | — | ||
| Q3 24 | $342.0K | — | ||
| Q2 24 | $423.0K | — | ||
| Q1 24 | $238.0K | — |
总债务DLHCSWIM
| Q4 25 | $133.5M | $279.8M | ||
| Q3 25 | $128.0M | $281.1M | ||
| Q2 25 | $138.3M | $281.5M | ||
| Q1 25 | $147.3M | $306.9M | ||
| Q4 24 | $162.2M | $281.5M | ||
| Q3 24 | $149.4M | $282.8M | ||
| Q2 24 | $160.9M | $282.4M | ||
| Q1 24 | $164.8M | $282.8M |
股东权益DLHCSWIM
| Q4 25 | $112.2M | $405.9M | ||
| Q3 25 | $113.0M | $408.4M | ||
| Q2 25 | $113.7M | $398.4M | ||
| Q1 25 | $112.8M | $381.1M | ||
| Q4 24 | $111.4M | $387.2M | ||
| Q3 24 | $110.1M | $416.6M | ||
| Q2 24 | $108.6M | $408.1M | ||
| Q1 24 | $106.8M | $391.8M |
总资产DLHCSWIM
| Q4 25 | $283.5M | $823.2M | ||
| Q3 25 | $290.7M | $844.4M | ||
| Q2 25 | $299.3M | $822.1M | ||
| Q1 25 | $306.6M | $824.6M | ||
| Q4 24 | $325.0M | $794.2M | ||
| Q3 24 | $314.4M | $853.4M | ||
| Q2 24 | $325.0M | $830.0M | ||
| Q1 24 | $325.9M | $808.6M |
负债/权益比DLHCSWIM
| Q4 25 | 1.19× | 0.69× | ||
| Q3 25 | 1.13× | 0.69× | ||
| Q2 25 | 1.22× | 0.71× | ||
| Q1 25 | 1.31× | 0.81× | ||
| Q4 24 | 1.46× | 0.73× | ||
| Q3 24 | 1.36× | 0.68× | ||
| Q2 24 | 1.48× | 0.69× | ||
| Q1 24 | 1.54× | 0.72× |
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 | $-4.8M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $14.1M |
| 自由现金流率自由现金流/营收 | -7.0% | 14.1% |
| 资本支出强度资本支出/营收 | 0.1% | 9.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $29.2M | $38.0M |
8季度趋势，按日历期对齐
经营现金流DLHCSWIM
| Q4 25 | $-4.8M | $23.3M | ||
| Q3 25 | $10.7M | $51.0M | ||
| Q2 25 | $9.6M | $36.0M | ||
| Q1 25 | $14.5M | $-46.9M | ||
| Q4 24 | $-11.5M | $6.2M | ||
| Q3 24 | $12.4M | $37.2M | ||
| Q2 24 | $4.6M | $52.4M | ||
| Q1 24 | $5.2M | $-34.5M |
自由现金流DLHCSWIM
| Q4 25 | $-4.8M | $14.1M | ||
| Q3 25 | $10.7M | $45.2M | ||
| Q2 25 | $9.4M | $29.1M | ||
| Q1 25 | $14.0M | $-50.3M | ||
| Q4 24 | $-12.1M | $-98.0K | ||
| Q3 24 | $12.2M | $33.2M | ||
| Q2 24 | $4.5M | $47.9M | ||
| Q1 24 | $4.9M | $-39.9M |
自由现金流率DLHCSWIM
| Q4 25 | -7.0% | 14.1% | ||
| Q3 25 | 13.1% | 27.9% | ||
| Q2 25 | 11.2% | 16.8% | ||
| Q1 25 | 15.6% | -45.2% | ||
| Q4 24 | -13.3% | -0.1% | ||
| Q3 24 | 12.7% | 22.1% | ||
| Q2 24 | 4.4% | 29.9% | ||
| Q1 24 | 4.9% | -36.0% |
资本支出强度DLHCSWIM
| Q4 25 | 0.1% | 9.2% | ||
| Q3 25 | 0.0% | 3.6% | ||
| Q2 25 | 0.3% | 4.0% | ||
| Q1 25 | 0.6% | 3.1% | ||
| Q4 24 | 0.6% | 7.2% | ||
| Q3 24 | 0.2% | 2.7% | ||
| Q2 24 | 0.2% | 2.8% | ||
| Q1 24 | 0.3% | 4.8% |
现金转化率DLHCSWIM
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | 33.12× | 2.25× | ||
| Q1 25 | 16.52× | — | ||
| Q4 24 | -10.35× | — | ||
| Q3 24 | 5.42× | 6.32× | ||
| Q2 24 | 4.06× | 3.95× | ||
| Q1 24 | 2.89× | — |
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
DLHC
| Sales Channel Directly To Consumer | $64.5M | 94% |
| Sales Channel Through Intermediary | $4.4M | 6% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
