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自由港麦克莫兰（FCX）与Leidos（LDOS）财务数据对比。点击上方公司名可切换其他公司
自由港麦克莫兰的季度营收约是Leidos的1.3倍（$5.3B vs $4.2B），自由港麦克莫兰净利率更高（10.7% vs 7.8%，领先2.9%），Leidos同比增速更快（-3.5% vs -10.4%），Leidos自由现金流更多（$452.0M vs $-312.0M），过去两年Leidos的营收复合增速更高（3.1% vs -7.9%）
自由港麦克莫兰是总部位于美国亚利桑那州凤凰城的矿业企业，是全球最大的钼生产商、主要铜生产商之一，运营着坐落于印度尼西亚巴布亚省的世界最大金矿格拉斯伯格矿。
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。
FCX vs LDOS — 直观对比
营收规模更大
FCX
是对方的1.3倍
$4.2B
营收增速更快
LDOS
高出6.9%
-10.4%
净利率更高
FCX
高出2.9%
7.8%
自由现金流更多
LDOS
多$764.0M
$-312.0M
两年增速更快
LDOS
近两年复合增速
-7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $4.2B |
| 净利润 | $565.0M | $327.0M |
| 毛利率 | 12.4% | 17.4% |
| 营业利润率 | 15.4% | 11.3% |
| 净利率 | 10.7% | 7.8% |
| 营收同比 | -10.4% | -3.5% |
| 净利润同比 | -21.6% | 15.1% |
| 每股收益（稀释后） | — | $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FCXLDOS
| Q1 26 | — | $4.2B | ||
| Q4 25 | $5.3B | $4.4B | ||
| Q3 25 | $6.8B | $4.2B | ||
| Q2 25 | $7.5B | $4.2B | ||
| Q1 25 | $5.6B | $4.3B | ||
| Q4 24 | $5.9B | — | ||
| Q3 24 | $6.7B | $4.2B | ||
| Q2 24 | $6.4B | $4.1B |
净利润FCXLDOS
| Q1 26 | — | $327.0M | ||
| Q4 25 | $565.0M | $367.0M | ||
| Q3 25 | $1.2B | $391.0M | ||
| Q2 25 | $1.5B | $363.0M | ||
| Q1 25 | $793.0M | $284.0M | ||
| Q4 24 | $721.0M | — | ||
| Q3 24 | $1.2B | $364.0M | ||
| Q2 24 | $1.3B | $322.0M |
毛利率FCXLDOS
| Q1 26 | — | 17.4% | ||
| Q4 25 | 12.4% | 18.0% | ||
| Q3 25 | 29.2% | 18.0% | ||
| Q2 25 | 34.2% | 17.5% | ||
| Q1 25 | 24.3% | 15.6% | ||
| Q4 24 | 27.0% | — | ||
| Q3 24 | 30.0% | 17.8% | ||
| Q2 24 | 31.5% | 16.6% |
营业利润率FCXLDOS
| Q1 26 | — | 11.3% | ||
| Q4 25 | 15.4% | 12.0% | ||
| Q3 25 | 28.9% | 13.5% | ||
| Q2 25 | 32.3% | 12.5% | ||
| Q1 25 | 23.4% | 9.7% | ||
| Q4 24 | 21.1% | — | ||
| Q3 24 | 29.0% | 12.4% | ||
| Q2 24 | 32.0% | 11.6% |
净利率FCXLDOS
| Q1 26 | — | 7.8% | ||
| Q4 25 | 10.7% | 8.2% | ||
| Q3 25 | 18.3% | 9.2% | ||
| Q2 25 | 20.6% | 8.6% | ||
| Q1 25 | 14.2% | 6.5% | ||
| Q4 24 | 12.3% | — | ||
| Q3 24 | 18.5% | 8.7% | ||
| Q2 24 | 20.0% | 7.8% |
每股收益（稀释后）FCXLDOS
| Q1 26 | — | $2.54 | ||
| Q4 25 | — | $2.82 | ||
| Q3 25 | $0.46 | $3.01 | ||
| Q2 25 | $0.53 | $2.77 | ||
| Q1 25 | $0.24 | $2.10 | ||
| Q4 24 | — | — | ||
| Q3 24 | $0.36 | $2.68 | ||
| Q2 24 | $0.42 | $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 | $3.8B | $1.1B |
| 总债务越低越好 | $9.4B | $4.6B |
| 股东权益账面价值 | $18.9B | $4.9B |
| 总资产 | $58.2B | $13.5B |
| 负债/权益比越低杠杆越低 | 0.50× | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资FCXLDOS
| Q1 26 | — | $1.1B | ||
| Q4 25 | $3.8B | $974.0M | ||
| Q3 25 | $4.3B | $930.0M | ||
| Q2 25 | $4.5B | $842.0M | ||
| Q1 25 | $4.4B | $943.0M | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $5.0B | $1.2B | ||
| Q2 24 | $5.3B | $823.0M |
总债务FCXLDOS
| Q1 26 | — | $4.6B | ||
| Q4 25 | $9.4B | $4.6B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $5.0B | ||
| Q1 25 | $9.4B | $4.1B | ||
| Q4 24 | $8.9B | — | ||
| Q3 24 | $9.7B | $4.1B | ||
| Q2 24 | $9.4B | $4.1B |
股东权益FCXLDOS
| Q1 26 | — | $4.9B | ||
| Q4 25 | $18.9B | $4.9B | ||
| Q3 25 | $18.7B | $4.7B | ||
| Q2 25 | $18.2B | $4.3B | ||
| Q1 25 | $17.7B | $4.4B | ||
| Q4 24 | $17.6B | — | ||
| Q3 24 | $17.5B | $4.6B | ||
| Q2 24 | $17.4B | $4.5B |
总资产FCXLDOS
| Q1 26 | — | $13.5B | ||
| Q4 25 | $58.2B | $13.5B | ||
| Q3 25 | $56.8B | $13.5B | ||
| Q2 25 | $56.5B | $13.2B | ||
| Q1 25 | $56.0B | $13.1B | ||
| Q4 24 | $54.8B | — | ||
| Q3 24 | $55.4B | $13.3B | ||
| Q2 24 | $54.6B | $12.9B |
负债/权益比FCXLDOS
| Q1 26 | — | 0.94× | ||
| Q4 25 | 0.50× | 0.94× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 1.18× | ||
| Q1 25 | 0.53× | 0.92× | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.55× | 0.88× | ||
| Q2 24 | 0.54× | 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 | $693.0M | $495.0M |
| 自由现金流经营现金流 - 资本支出 | $-312.0M | $452.0M |
| 自由现金流率自由现金流/营收 | -5.9% | 10.8% |
| 资本支出强度资本支出/营收 | 19.1% | 1.0% |
| 现金转化率经营现金流/净利润 | 1.23× | 1.51× |
| 过去12个月自由现金流最近4个季度 | $1.1B | — |
8季度趋势，按日历期对齐
经营现金流FCXLDOS
| Q1 26 | — | $495.0M | ||
| Q4 25 | $693.0M | — | ||
| Q3 25 | $1.7B | $711.0M | ||
| Q2 25 | $2.2B | $58.0M | ||
| Q1 25 | $1.1B | $299.0M | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.9B | $656.0M | ||
| Q2 24 | $2.0B | $374.0M |
自由现金流FCXLDOS
| Q1 26 | — | $452.0M | ||
| Q4 25 | $-312.0M | — | ||
| Q3 25 | $608.0M | $680.0M | ||
| Q2 25 | $934.0M | $36.0M | ||
| Q1 25 | $-114.0M | $213.0M | ||
| Q4 24 | $197.0M | — | ||
| Q3 24 | $673.0M | $633.0M | ||
| Q2 24 | $840.0M | $351.0M |
自由现金流率FCXLDOS
| Q1 26 | — | 10.8% | ||
| Q4 25 | -5.9% | — | ||
| Q3 25 | 8.9% | 16.1% | ||
| Q2 25 | 12.4% | 0.9% | ||
| Q1 25 | -2.0% | 4.9% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 10.1% | 15.2% | ||
| Q2 24 | 13.1% | 8.5% |
资本支出强度FCXLDOS
| Q1 26 | — | 1.0% | ||
| Q4 25 | 19.1% | — | ||
| Q3 25 | 15.5% | 0.7% | ||
| Q2 25 | 16.8% | 0.5% | ||
| Q1 25 | 21.0% | 2.0% | ||
| Q4 24 | 21.1% | — | ||
| Q3 24 | 17.9% | 0.6% | ||
| Q2 24 | 17.4% | 0.6% |
现金转化率FCXLDOS
| Q1 26 | — | 1.51× | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.33× | 1.82× | ||
| Q2 25 | 1.42× | 0.16× | ||
| Q1 25 | 1.33× | 1.05× | ||
| Q4 24 | 1.99× | — | ||
| Q3 24 | 1.51× | 1.80× | ||
| Q2 24 | 1.53× | 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
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
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% |
