vs
FactSet（FDS）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FactSet的1.8倍（$1.1B vs $607.6M），FactSet净利率更高（25.1% vs 12.6%，领先12.5%），FactSet同比增速更快（6.9% vs 5.5%），FactSet自由现金流更多（$90.4M vs $52.0M），过去两年FactSet的营收复合增速更高（5.5% vs 4.9%）
FactSet是总部位于美国康涅狄格州诺沃克的金融数据与软件企业，为客户提供一体化数据及软件解决方案。2024财年，公司年度订阅价值与专业服务营收合计22亿美元，当前总市值约170亿美元。
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。
FDS vs LECO — 直观对比
营收规模更大
LECO
是对方的1.8倍
$607.6M
营收增速更快
FDS
高出1.3%
5.5%
净利率更高
FDS
高出12.5%
12.6%
自由现金流更多
FDS
多$38.4M
$52.0M
两年增速更快
FDS
近两年复合增速
4.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $607.6M | $1.1B |
| 净利润 | $152.6M | $136.0M |
| 毛利率 | 52.6% | 34.7% |
| 营业利润率 | 31.6% | 17.1% |
| 净利率 | 25.1% | 12.6% |
| 营收同比 | 6.9% | 5.5% |
| 净利润同比 | 1.7% | -3.0% |
| 每股收益（稀释后） | $4.06 | $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FDSLECO
| Q4 25 | $607.6M | $1.1B | ||
| Q3 25 | $596.9M | $1.1B | ||
| Q2 25 | $585.5M | $1.1B | ||
| Q1 25 | $570.7M | $1.0B | ||
| Q4 24 | $568.7M | $1.0B | ||
| Q3 24 | $562.2M | $983.8M | ||
| Q2 24 | $552.7M | $1.0B | ||
| Q1 24 | $545.9M | $981.2M |
净利润FDSLECO
| Q4 25 | $152.6M | $136.0M | ||
| Q3 25 | $153.6M | $122.6M | ||
| Q2 25 | $148.5M | $143.4M | ||
| Q1 25 | $144.9M | $118.5M | ||
| Q4 24 | $150.0M | $140.2M | ||
| Q3 24 | $89.5M | $100.8M | ||
| Q2 24 | $158.1M | $101.7M | ||
| Q1 24 | $140.9M | $123.4M |
毛利率FDSLECO
| Q4 25 | 52.6% | 34.7% | ||
| Q3 25 | 51.6% | 36.7% | ||
| Q2 25 | 52.1% | 37.3% | ||
| Q1 25 | 52.8% | 36.4% | ||
| Q4 24 | 54.5% | 36.1% | ||
| Q3 24 | 54.1% | 35.8% | ||
| Q2 24 | 55.3% | 37.6% | ||
| Q1 24 | 53.3% | 37.5% |
营业利润率FDSLECO
| Q4 25 | 31.6% | 17.1% | ||
| Q3 25 | 29.7% | 16.6% | ||
| Q2 25 | 33.2% | 17.6% | ||
| Q1 25 | 32.5% | 16.4% | ||
| Q4 24 | 33.6% | 17.3% | ||
| Q3 24 | 22.7% | 14.8% | ||
| Q2 24 | 36.6% | 14.6% | ||
| Q1 24 | 33.3% | 16.8% |
净利率FDSLECO
| Q4 25 | 25.1% | 12.6% | ||
| Q3 25 | 25.7% | 11.6% | ||
| Q2 25 | 25.4% | 13.2% | ||
| Q1 25 | 25.4% | 11.8% | ||
| Q4 24 | 26.4% | 13.7% | ||
| Q3 24 | 15.9% | 10.2% | ||
| Q2 24 | 28.6% | 10.0% | ||
| Q1 24 | 25.8% | 12.6% |
每股收益（稀释后）FDSLECO
| Q4 25 | $4.06 | $2.45 | ||
| Q3 25 | $4.03 | $2.21 | ||
| Q2 25 | $3.87 | $2.56 | ||
| Q1 25 | $3.76 | $2.10 | ||
| Q4 24 | $3.89 | $2.47 | ||
| Q3 24 | $2.33 | $1.77 | ||
| Q2 24 | $4.09 | $1.77 | ||
| Q1 24 | $3.65 | $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 | $292.7M | $308.8M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.2B | $1.5B |
| 总资产 | $4.2B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.63× | — |
8季度趋势，按日历期对齐
现金及短期投资FDSLECO
| Q4 25 | $292.7M | $308.8M | ||
| Q3 25 | $355.1M | $293.0M | ||
| Q2 25 | $364.0M | $299.5M | ||
| Q1 25 | $287.0M | $394.7M | ||
| Q4 24 | $358.8M | $377.3M | ||
| Q3 24 | $492.6M | $404.2M | ||
| Q2 24 | $522.0M | $272.7M | ||
| Q1 24 | $450.2M | $375.0M |
总债务FDSLECO
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | — |
股东权益FDSLECO
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.0B | $1.3B | ||
| Q3 24 | $1.9B | $1.3B | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $1.8B | $1.3B |
总资产FDSLECO
| Q4 25 | $4.2B | $3.8B | ||
| Q3 25 | $4.3B | $3.8B | ||
| Q2 25 | $4.3B | $3.7B | ||
| Q1 25 | $4.2B | $3.6B | ||
| Q4 24 | $4.0B | $3.5B | ||
| Q3 24 | $4.1B | $3.7B | ||
| Q2 24 | $4.0B | $3.4B | ||
| Q1 24 | $4.0B | $3.4B |
负债/权益比FDSLECO
| Q4 25 | 0.63× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 0.66× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.71× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.83× | — |
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 | $121.3M | $95.0M |
| 自由现金流经营现金流 - 资本支出 | $90.4M | $52.0M |
| 自由现金流率自由现金流/营收 | 14.9% | 4.8% |
| 资本支出强度资本支出/营收 | 5.1% | 4.0% |
| 现金转化率经营现金流/净利润 | 0.79× | 0.70× |
| 过去12个月自由现金流最近4个季度 | $647.4M | $534.2M |
8季度趋势，按日历期对齐
经营现金流FDSLECO
| Q4 25 | $121.3M | $95.0M | ||
| Q3 25 | $212.1M | $236.7M | ||
| Q2 25 | $253.8M | $143.8M | ||
| Q1 25 | $174.0M | $185.7M | ||
| Q4 24 | $86.4M | $95.8M | ||
| Q3 24 | $163.2M | $199.2M | ||
| Q2 24 | $238.2M | $170.7M | ||
| Q1 24 | $143.8M | $133.3M |
自由现金流FDSLECO
| Q4 25 | $90.4M | $52.0M | ||
| Q3 25 | $178.1M | $205.1M | ||
| Q2 25 | $228.6M | $118.4M | ||
| Q1 25 | $150.2M | $158.7M | ||
| Q4 24 | $60.5M | $64.3M | ||
| Q3 24 | $137.2M | $163.5M | ||
| Q2 24 | $216.9M | $147.5M | ||
| Q1 24 | $121.9M | $107.0M |
自由现金流率FDSLECO
| Q4 25 | 14.9% | 4.8% | ||
| Q3 25 | 29.8% | 19.3% | ||
| Q2 25 | 39.0% | 10.9% | ||
| Q1 25 | 26.3% | 15.8% | ||
| Q4 24 | 10.6% | 6.3% | ||
| Q3 24 | 24.4% | 16.6% | ||
| Q2 24 | 39.2% | 14.4% | ||
| Q1 24 | 22.3% | 10.9% |
资本支出强度FDSLECO
| Q4 25 | 5.1% | 4.0% | ||
| Q3 25 | 5.7% | 3.0% | ||
| Q2 25 | 4.3% | 2.3% | ||
| Q1 25 | 4.2% | 2.7% | ||
| Q4 24 | 4.5% | 3.1% | ||
| Q3 24 | 4.6% | 3.6% | ||
| Q2 24 | 3.9% | 2.3% | ||
| Q1 24 | 4.0% | 2.7% |
现金转化率FDSLECO
| Q4 25 | 0.79× | 0.70× | ||
| Q3 25 | 1.38× | 1.93× | ||
| Q2 25 | 1.71× | 1.00× | ||
| Q1 25 | 1.20× | 1.57× | ||
| Q4 24 | 0.58× | 0.68× | ||
| Q3 24 | 1.82× | 1.98× | ||
| Q2 24 | 1.51× | 1.68× | ||
| Q1 24 | 1.02× | 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
FDS
| Americas Segment | $399.7M | 66% |
| EMEA Segment | $149.1M | 25% |
| Asia Pacific Segment | $62.2M | 10% |
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
