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FirstEnergy（FE）与Leidos（LDOS）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是FirstEnergy的1.1倍（$4.2B vs $3.8B），Leidos净利率更高（7.8% vs -1.3%，领先9.1%），FirstEnergy同比增速更快（19.6% vs -3.5%），Leidos自由现金流更多（$452.0M vs $-30.0M），过去两年FirstEnergy的营收复合增速更高（7.5% vs 3.1%）
FirstEnergy Corp是总部位于美国俄亥俄州阿克伦市的电力公用事业企业，主营电力供应、电网运营相关业务，于1997年由俄亥俄爱迪生公司与森特里奥尔能源公司合并组建，是美国中西部地区颇具影响力的公共事业服务商。
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。
FE vs LDOS — 直观对比
营收规模更大
LDOS
是对方的1.1倍
$3.8B
营收增速更快
FE
高出23.0%
-3.5%
净利率更高
LDOS
高出9.1%
-1.3%
自由现金流更多
LDOS
多$482.0M
$-30.0M
两年增速更快
FE
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $4.2B |
| 净利润 | $-49.0M | $327.0M |
| 毛利率 | — | 17.4% |
| 营业利润率 | -0.6% | 11.3% |
| 净利率 | -1.3% | 7.8% |
| 营收同比 | 19.6% | -3.5% |
| 净利润同比 | -118.8% | 15.1% |
| 每股收益（稀释后） | $-0.08 | $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FELDOS
| Q1 26 | — | $4.2B | ||
| Q4 25 | $3.8B | $4.4B | ||
| Q3 25 | $4.1B | $4.2B | ||
| Q2 25 | $3.4B | $4.2B | ||
| Q1 25 | $3.8B | $4.3B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.7B | $4.2B | ||
| Q2 24 | $3.3B | $4.1B |
净利润FELDOS
| Q1 26 | — | $327.0M | ||
| Q4 25 | $-49.0M | $367.0M | ||
| Q3 25 | $441.0M | $391.0M | ||
| Q2 25 | $268.0M | $363.0M | ||
| Q1 25 | $360.0M | $284.0M | ||
| Q4 24 | $261.0M | — | ||
| Q3 24 | $419.0M | $364.0M | ||
| Q2 24 | $45.0M | $322.0M |
毛利率FELDOS
| Q1 26 | — | 17.4% | ||
| Q4 25 | — | 18.0% | ||
| Q3 25 | — | 18.0% | ||
| Q2 25 | — | 17.5% | ||
| Q1 25 | — | 15.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | 16.6% |
营业利润率FELDOS
| Q1 26 | — | 11.3% | ||
| Q4 25 | -0.6% | 12.0% | ||
| Q3 25 | 20.0% | 13.5% | ||
| Q2 25 | 19.1% | 12.5% | ||
| Q1 25 | 20.0% | 9.7% | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 19.5% | 12.4% | ||
| Q2 24 | 12.9% | 11.6% |
净利率FELDOS
| Q1 26 | — | 7.8% | ||
| Q4 25 | -1.3% | 8.2% | ||
| Q3 25 | 10.6% | 9.2% | ||
| Q2 25 | 7.9% | 8.6% | ||
| Q1 25 | 9.6% | 6.5% | ||
| Q4 24 | 8.2% | — | ||
| Q3 24 | 11.2% | 8.7% | ||
| Q2 24 | 1.4% | 7.8% |
每股收益（稀释后）FELDOS
| Q1 26 | — | $2.54 | ||
| Q4 25 | $-0.08 | $2.82 | ||
| Q3 25 | $0.76 | $3.01 | ||
| Q2 25 | $0.46 | $2.77 | ||
| Q1 25 | $0.62 | $2.10 | ||
| Q4 24 | $0.45 | — | ||
| Q3 24 | $0.73 | $2.68 | ||
| Q2 24 | $0.08 | $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 | $57.0M | $1.1B |
| 总债务越低越好 | $25.5B | $4.6B |
| 股东权益账面价值 | $12.5B | $4.9B |
| 总资产 | $55.9B | $13.5B |
| 负债/权益比越低杠杆越低 | 2.04× | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资FELDOS
| Q1 26 | — | $1.1B | ||
| Q4 25 | $57.0M | $974.0M | ||
| Q3 25 | $1.4B | $930.0M | ||
| Q2 25 | $569.0M | $842.0M | ||
| Q1 25 | $132.0M | $943.0M | ||
| Q4 24 | $111.0M | — | ||
| Q3 24 | $439.0M | $1.2B | ||
| Q2 24 | $60.0M | $823.0M |
总债务FELDOS
| Q1 26 | — | $4.6B | ||
| Q4 25 | $25.5B | $4.6B | ||
| Q3 25 | $25.5B | $5.0B | ||
| Q2 25 | $23.7B | $5.0B | ||
| Q1 25 | $21.2B | $4.1B | ||
| Q4 24 | $22.5B | — | ||
| Q3 24 | $21.6B | $4.1B | ||
| Q2 24 | $20.8B | $4.1B |
股东权益FELDOS
| Q1 26 | — | $4.9B | ||
| Q4 25 | $12.5B | $4.9B | ||
| Q3 25 | $12.8B | $4.7B | ||
| Q2 25 | $12.9B | $4.3B | ||
| Q1 25 | $12.6B | $4.4B | ||
| Q4 24 | $12.5B | — | ||
| Q3 24 | $12.4B | $4.6B | ||
| Q2 24 | $12.5B | $4.5B |
总资产FELDOS
| Q1 26 | — | $13.5B | ||
| Q4 25 | $55.9B | $13.5B | ||
| Q3 25 | $55.9B | $13.5B | ||
| Q2 25 | $54.2B | $13.2B | ||
| Q1 25 | $52.8B | $13.1B | ||
| Q4 24 | $52.0B | — | ||
| Q3 24 | $50.8B | $13.3B | ||
| Q2 24 | $51.0B | $12.9B |
负债/权益比FELDOS
| Q1 26 | — | 0.94× | ||
| Q4 25 | 2.04× | 0.94× | ||
| Q3 25 | 1.99× | 1.07× | ||
| Q2 25 | 1.85× | 1.18× | ||
| Q1 25 | 1.69× | 0.92× | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.74× | 0.88× | ||
| Q2 24 | 1.67× | 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 | $1.1B | $495.0M |
| 自由现金流经营现金流 - 资本支出 | $-30.0M | $452.0M |
| 自由现金流率自由现金流/营收 | -0.8% | 10.8% |
| 资本支出强度资本支出/营收 | 30.7% | 1.0% |
| 现金转化率经营现金流/净利润 | — | 1.51× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | — |
8季度趋势，按日历期对齐
经营现金流FELDOS
| Q1 26 | — | $495.0M | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $845.0M | $711.0M | ||
| Q2 25 | $1.1B | $58.0M | ||
| Q1 25 | $637.0M | $299.0M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $775.0M | $656.0M | ||
| Q2 24 | $1.1B | $374.0M |
自由现金流FELDOS
| Q1 26 | — | $452.0M | ||
| Q4 25 | $-30.0M | — | ||
| Q3 25 | $-471.0M | $680.0M | ||
| Q2 25 | $-136.0M | $36.0M | ||
| Q1 25 | $-368.0M | $213.0M | ||
| Q4 24 | $-250.0M | — | ||
| Q3 24 | $-229.0M | $633.0M | ||
| Q2 24 | $170.0M | $351.0M |
自由现金流率FELDOS
| Q1 26 | — | 10.8% | ||
| Q4 25 | -0.8% | — | ||
| Q3 25 | -11.4% | 16.1% | ||
| Q2 25 | -4.0% | 0.9% | ||
| Q1 25 | -9.8% | 4.9% | ||
| Q4 24 | -7.9% | — | ||
| Q3 24 | -6.1% | 15.2% | ||
| Q2 24 | 5.2% | 8.5% |
资本支出强度FELDOS
| Q1 26 | — | 1.0% | ||
| Q4 25 | 30.7% | — | ||
| Q3 25 | 31.7% | 0.7% | ||
| Q2 25 | 36.0% | 0.5% | ||
| Q1 25 | 26.7% | 2.0% | ||
| Q4 24 | 40.7% | — | ||
| Q3 24 | 26.9% | 0.6% | ||
| Q2 24 | 28.7% | 0.6% |
现金转化率FELDOS
| Q1 26 | — | 1.51× | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.92× | 1.82× | ||
| Q2 25 | 4.04× | 0.16× | ||
| Q1 25 | 1.77× | 1.05× | ||
| Q4 24 | 4.00× | — | ||
| Q3 24 | 1.85× | 1.80× | ||
| Q2 24 | 24.71× | 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
FE
| Integrated Segment | $1.4B | 37% |
| Other | $1.4B | 36% |
| Stand Alone Transmission Segment | $466.0M | 12% |
| Industrial Customers | $167.0M | 4% |
| Mid Atlantic Interstate Transmission LLC | $118.0M | 3% |
| Transmission | $105.0M | 3% |
| Transmission Segment | $68.0M | 2% |
| Tr AIL | $63.0M | 2% |
| Internal Customers | $10.0M | 0% |
| Wholesale Sales | $6.0M | 0% |
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% |
