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Leonardo DRS, Inc.（DRS）与林肯电气（LECO）财务数据对比。点击上方公司名可切换其他公司
林肯电气的季度营收约是Leonardo DRS, Inc.的1.0倍（$1.1B vs $1.1B），林肯电气净利率更高（12.6% vs 9.6%，领先3.0%），Leonardo DRS, Inc.同比增速更快（8.1% vs 5.5%），Leonardo DRS, Inc.自由现金流更多（$376.0M vs $52.0M），过去两年Leonardo DRS, Inc.的营收复合增速更高（24.1% vs 4.9%）
莱昂纳多DRS公司是美国本土国防承包商，前身为DRS技术公司，曾于纽约证券交易所挂牌交易，2008年被莱昂纳多的前身芬梅卡尼卡收购，核心业务为向美国军方提供先进国防技术及配套系统产品。
林肯电气是美国跨国焊接产品制造企业，总部位于俄亥俄州欧几里得市，主营弧焊设备、焊接配件、等离子及氧燃料切割设备、焊接机器人系统等，业务覆盖160余个国家和地区，在全球设有42个生产基地，同时在19个国家布局了生产联盟及合资企业。
DRS vs LECO — 直观对比
营收规模更大
LECO
是对方的1.0倍
$1.1B
营收增速更快
DRS
高出2.5%
5.5%
净利率更高
LECO
高出3.0%
9.6%
自由现金流更多
DRS
多$324.0M
$52.0M
两年增速更快
DRS
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.1B |
| 净利润 | $102.0M | $136.0M |
| 毛利率 | 25.4% | 34.7% |
| 营业利润率 | 11.9% | 17.1% |
| 净利率 | 9.6% | 12.6% |
| 营收同比 | 8.1% | 5.5% |
| 净利润同比 | 14.6% | -3.0% |
| 每股收益（稀释后） | $0.38 | $2.45 |
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DRSLECO
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $960.0M | $1.1B | ||
| Q2 25 | $829.0M | $1.1B | ||
| Q1 25 | $799.0M | $1.0B | ||
| Q4 24 | $981.0M | $1.0B | ||
| Q3 24 | $812.0M | $983.8M | ||
| Q2 24 | $753.0M | $1.0B | ||
| Q1 24 | $688.0M | $981.2M |
净利润DRSLECO
| Q4 25 | $102.0M | $136.0M | ||
| Q3 25 | $72.0M | $122.6M | ||
| Q2 25 | $54.0M | $143.4M | ||
| Q1 25 | $50.0M | $118.5M | ||
| Q4 24 | $89.0M | $140.2M | ||
| Q3 24 | $57.0M | $100.8M | ||
| Q2 24 | $38.0M | $101.7M | ||
| Q1 24 | $29.0M | $123.4M |
毛利率DRSLECO
| Q4 25 | 25.4% | 34.7% | ||
| Q3 25 | 23.1% | 36.7% | ||
| Q2 25 | 23.8% | 37.3% | ||
| Q1 25 | 22.7% | 36.4% | ||
| Q4 24 | 24.0% | 36.1% | ||
| Q3 24 | 22.0% | 35.8% | ||
| Q2 24 | 22.4% | 37.6% | ||
| Q1 24 | 22.2% | 37.5% |
营业利润率DRSLECO
| Q4 25 | 11.9% | 17.1% | ||
| Q3 25 | 9.7% | 16.6% | ||
| Q2 25 | 8.4% | 17.6% | ||
| Q1 25 | 7.4% | 16.4% | ||
| Q4 24 | 12.2% | 17.3% | ||
| Q3 24 | 9.2% | 14.8% | ||
| Q2 24 | 7.3% | 14.6% | ||
| Q1 24 | 6.3% | 16.8% |
净利率DRSLECO
| Q4 25 | 9.6% | 12.6% | ||
| Q3 25 | 7.5% | 11.6% | ||
| Q2 25 | 6.5% | 13.2% | ||
| Q1 25 | 6.3% | 11.8% | ||
| Q4 24 | 9.1% | 13.7% | ||
| Q3 24 | 7.0% | 10.2% | ||
| Q2 24 | 5.0% | 10.0% | ||
| Q1 24 | 4.2% | 12.6% |
每股收益（稀释后）DRSLECO
| Q4 25 | $0.38 | $2.45 | ||
| Q3 25 | $0.26 | $2.21 | ||
| Q2 25 | $0.20 | $2.56 | ||
| Q1 25 | $0.19 | $2.10 | ||
| Q4 24 | $0.34 | $2.47 | ||
| Q3 24 | $0.21 | $1.77 | ||
| Q2 24 | $0.14 | $1.77 | ||
| Q1 24 | $0.11 | $2.14 |
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 | $647.0M | $308.8M |
| 总债务越低越好 | $321.0M | — |
| 股东权益账面价值 | $2.7B | $1.5B |
| 总资产 | $4.5B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.12× | — |
8季度趋势，按日历期对齐
现金及短期投资DRSLECO
| Q4 25 | $647.0M | $308.8M | ||
| Q3 25 | $309.0M | $293.0M | ||
| Q2 25 | $278.0M | $299.5M | ||
| Q1 25 | $380.0M | $394.7M | ||
| Q4 24 | $598.0M | $377.3M | ||
| Q3 24 | $198.0M | $404.2M | ||
| Q2 24 | $149.0M | $272.7M | ||
| Q1 24 | $160.0M | $375.0M |
总债务DRSLECO
| Q4 25 | $321.0M | — | ||
| Q3 25 | $326.0M | — | ||
| Q2 25 | $331.0M | — | ||
| Q1 25 | $335.0M | — | ||
| Q4 24 | $340.0M | — | ||
| Q3 24 | $345.0M | — | ||
| Q2 24 | $351.0M | — | ||
| Q1 24 | $356.0M | — |
股东权益DRSLECO
| Q4 25 | $2.7B | $1.5B | ||
| Q3 25 | $2.6B | $1.4B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.6B | $1.3B | ||
| Q4 24 | $2.6B | $1.3B | ||
| Q3 24 | $2.5B | $1.3B | ||
| Q2 24 | $2.4B | $1.3B | ||
| Q1 24 | $2.4B | $1.3B |
总资产DRSLECO
| Q4 25 | $4.5B | $3.8B | ||
| Q3 25 | $4.2B | $3.8B | ||
| Q2 25 | $4.1B | $3.7B | ||
| Q1 25 | $4.1B | $3.6B | ||
| Q4 24 | $4.2B | $3.5B | ||
| Q3 24 | $3.9B | $3.7B | ||
| Q2 24 | $3.8B | $3.4B | ||
| Q1 24 | $3.8B | $3.4B |
负债/权益比DRSLECO
| Q4 25 | 0.12× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.13× | — | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | 0.15× | — |
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 | $425.0M | $95.0M |
| 自由现金流经营现金流 - 资本支出 | $376.0M | $52.0M |
| 自由现金流率自由现金流/营收 | 35.5% | 4.8% |
| 资本支出强度资本支出/营收 | 4.6% | 4.0% |
| 现金转化率经营现金流/净利润 | 4.17× | 0.70× |
| 过去12个月自由现金流最近4个季度 | $227.0M | $534.2M |
8季度趋势，按日历期对齐
经营现金流DRSLECO
| Q4 25 | $425.0M | $95.0M | ||
| Q3 25 | $107.0M | $236.7M | ||
| Q2 25 | $-28.0M | $143.8M | ||
| Q1 25 | $-138.0M | $185.7M | ||
| Q4 24 | $443.0M | $95.8M | ||
| Q3 24 | $59.0M | $199.2M | ||
| Q2 24 | $34.0M | $170.7M | ||
| Q1 24 | $-265.0M | $133.3M |
自由现金流DRSLECO
| Q4 25 | $376.0M | $52.0M | ||
| Q3 25 | $77.0M | $205.1M | ||
| Q2 25 | $-56.0M | $118.4M | ||
| Q1 25 | $-170.0M | $158.7M | ||
| Q4 24 | $414.0M | $64.3M | ||
| Q3 24 | $47.0M | $163.5M | ||
| Q2 24 | $0 | $147.5M | ||
| Q1 24 | $-275.0M | $107.0M |
自由现金流率DRSLECO
| Q4 25 | 35.5% | 4.8% | ||
| Q3 25 | 8.0% | 19.3% | ||
| Q2 25 | -6.8% | 10.9% | ||
| Q1 25 | -21.3% | 15.8% | ||
| Q4 24 | 42.2% | 6.3% | ||
| Q3 24 | 5.8% | 16.6% | ||
| Q2 24 | 0.0% | 14.4% | ||
| Q1 24 | -40.0% | 10.9% |
资本支出强度DRSLECO
| Q4 25 | 4.6% | 4.0% | ||
| Q3 25 | 3.1% | 3.0% | ||
| Q2 25 | 3.4% | 2.3% | ||
| Q1 25 | 4.0% | 2.7% | ||
| Q4 24 | 3.0% | 3.1% | ||
| Q3 24 | 1.5% | 3.6% | ||
| Q2 24 | 4.5% | 2.3% | ||
| Q1 24 | 1.5% | 2.7% |
现金转化率DRSLECO
| Q4 25 | 4.17× | 0.70× | ||
| Q3 25 | 1.49× | 1.93× | ||
| Q2 25 | -0.52× | 1.00× | ||
| Q1 25 | -2.76× | 1.57× | ||
| Q4 24 | 4.98× | 0.68× | ||
| Q3 24 | 1.04× | 1.98× | ||
| Q2 24 | 0.89× | 1.68× | ||
| Q1 24 | -9.14× | 1.08× |
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
DRS
暂无分部数据
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
