vs
伟创力（FLEX）与京东（JD）财务数据对比。点击上方公司名可切换其他公司
京东的季度营收约是伟创力的7.2倍（$53.9B vs $7.5B），伟创力净利率更高（3.3% vs -0.1%，领先3.5%），伟创力同比增速更快（16.9% vs 12.2%），京东自由现金流更多（$2.7B vs $212.0M），过去两年京东的营收复合增速更高（26.8% vs 8.8%）
伟创力（Flex Ltd.）是一家拥有新加坡与美国背景的跨国制造企业，按营收计算为全球第三大电子制造服务（EMS）及原始设计制造商（ODM），仅次于和硕。其美国总部位于得克萨斯州奥斯汀，在30多个国家设有生产基地，员工总数约17.2万人。
京东是总部位于北京的中国知名电商企业，前身为360buy。2024年营收超1588亿美元，是中国收入规模最大的零售商，位列《财富》世界500强第47位。作为国内两大头部B2C线上零售商之一，与阿里巴巴旗下天猫直接竞争，业务覆盖零售、科技、物流、医疗健康、工业、地产管理等多个领域。
FLEX vs JD — 直观对比
营收规模更大
JD
是对方的7.2倍
$7.5B
营收增速更快
FLEX
高出4.6%
12.2%
净利率更高
FLEX
高出3.5%
-0.1%
自由现金流更多
JD
多$2.5B
$212.0M
两年增速更快
JD
近两年复合增速
8.8%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.5B | $53.9B |
| 净利润 | $250.0M | $-78.0M |
| 毛利率 | 9.4% | 14.6% |
| 营业利润率 | 5.0% | -1.5% |
| 净利率 | 3.3% | -0.1% |
| 营收同比 | 16.9% | 12.2% |
| 净利润同比 | 12.6% | -105.0% |
| 每股收益（稀释后） | $0.67 | $-0.15 |
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FLEXJD
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.1B | $53.9B | ||
| Q3 25 | $6.8B | $42.0B | ||
| Q2 25 | $6.6B | $49.8B | ||
| Q1 25 | $6.4B | $41.5B | ||
| Q4 24 | $6.6B | $48.0B | ||
| Q3 24 | $6.5B | $37.1B | ||
| Q2 24 | $6.3B | $40.1B |
净利润FLEXJD
| Q1 26 | $250.0M | — | ||
| Q4 25 | $239.0M | $-78.0M | ||
| Q3 25 | $199.0M | $896.0M | ||
| Q2 25 | $192.0M | $937.0M | ||
| Q1 25 | $222.0M | $1.6B | ||
| Q4 24 | $263.0M | $1.6B | ||
| Q3 24 | $214.0M | $1.8B | ||
| Q2 24 | $139.0M | $1.9B |
毛利率FLEXJD
| Q1 26 | 9.4% | — | ||
| Q4 25 | 9.6% | 14.6% | ||
| Q3 25 | 9.0% | 16.9% | ||
| Q2 25 | 8.7% | 15.9% | ||
| Q1 25 | 8.8% | 15.9% | ||
| Q4 24 | 9.1% | 15.2% | ||
| Q3 24 | 8.1% | 17.3% | ||
| Q2 24 | 7.5% | 15.8% |
营业利润率FLEXJD
| Q1 26 | 5.0% | — | ||
| Q4 25 | 5.5% | -1.5% | ||
| Q3 25 | 4.4% | -0.4% | ||
| Q2 25 | 4.7% | -0.2% | ||
| Q1 25 | 4.8% | 3.5% | ||
| Q4 24 | 5.1% | 2.6% | ||
| Q3 24 | 4.5% | 4.6% | ||
| Q2 24 | 3.7% | 3.6% |
净利率FLEXJD
| Q1 26 | 3.3% | — | ||
| Q4 25 | 3.4% | -0.1% | ||
| Q3 25 | 2.9% | 2.1% | ||
| Q2 25 | 2.9% | 1.9% | ||
| Q1 25 | 3.5% | 3.7% | ||
| Q4 24 | 4.0% | 3.3% | ||
| Q3 24 | 3.3% | 4.9% | ||
| Q2 24 | 2.2% | 4.7% |
每股收益（稀释后）FLEXJD
| Q1 26 | $0.67 | — | ||
| Q4 25 | $0.64 | $-0.15 | ||
| Q3 25 | $0.52 | $0.24 | ||
| Q2 25 | $0.50 | $0.29 | ||
| Q1 25 | $0.56 | $0.50 | ||
| Q4 24 | $0.67 | $0.44 | ||
| Q3 24 | $0.54 | $0.55 | ||
| Q2 24 | $0.34 | $0.56 |
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 | $2.4B | $30.5B |
| 总债务越低越好 | $3.8B | $41.7B |
| 股东权益账面价值 | $5.1B | $32.2B |
| 总资产 | $22.1B | $99.4B |
| 负债/权益比越低杠杆越低 | 0.73× | 1.30× |
8季度趋势，按日历期对齐
现金及短期投资FLEXJD
| Q1 26 | $2.4B | — | ||
| Q4 25 | $3.1B | $30.5B | ||
| Q3 25 | $2.2B | $27.9B | ||
| Q2 25 | $2.2B | $29.9B | ||
| Q1 25 | $2.3B | $26.8B | ||
| Q4 24 | $2.3B | $32.1B | ||
| Q3 24 | $2.6B | $27.2B | ||
| Q2 24 | $2.2B | $27.8B |
总债务FLEXJD
| Q1 26 | $3.8B | — | ||
| Q4 25 | $4.4B | $41.7B | ||
| Q3 25 | $3.7B | $8.4B | ||
| Q2 25 | $3.7B | $7.9B | ||
| Q1 25 | $3.7B | $7.8B | ||
| Q4 24 | $3.7B | $31.7B | ||
| Q3 24 | $3.7B | $7.7B | ||
| Q2 24 | $3.2B | $7.8B |
股东权益FLEXJD
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.1B | $32.2B | ||
| Q3 25 | $5.0B | $42.8B | ||
| Q2 25 | $5.1B | $41.5B | ||
| Q1 25 | $5.0B | $42.5B | ||
| Q4 24 | $5.0B | $32.8B | ||
| Q3 24 | $5.0B | $42.2B | ||
| Q2 24 | $5.0B | $39.5B |
总资产FLEXJD
| Q1 26 | $22.1B | — | ||
| Q4 25 | $20.8B | $99.4B | ||
| Q3 25 | $19.5B | $100.2B | ||
| Q2 25 | $19.1B | $98.7B | ||
| Q1 25 | $18.4B | $93.4B | ||
| Q4 24 | $18.3B | $95.7B | ||
| Q3 24 | $18.6B | $91.7B | ||
| Q2 24 | $17.7B | $89.7B |
负债/权益比FLEXJD
| Q1 26 | 0.73× | — | ||
| Q4 25 | 0.87× | 1.30× | ||
| Q3 25 | 0.73× | 0.20× | ||
| Q2 25 | 0.72× | 0.19× | ||
| Q1 25 | 0.74× | 0.18× | ||
| Q4 24 | 0.74× | 0.97× | ||
| Q3 24 | 0.74× | 0.18× | ||
| Q2 24 | 0.64× | 0.20× |
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 | $413.0M | $3.0B |
| 自由现金流经营现金流 - 资本支出 | $212.0M | $2.7B |
| 自由现金流率自由现金流/营收 | 2.8% | 5.0% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | $1.1B | $2.2B |
8季度趋势，按日历期对齐
经营现金流FLEXJD
| Q1 26 | $413.0M | — | ||
| Q4 25 | $420.0M | $3.0B | ||
| Q3 25 | $453.0M | $-1.1B | ||
| Q2 25 | $399.0M | $3.4B | ||
| Q1 25 | $433.0M | $-2.5B | ||
| Q4 24 | $413.0M | $3.4B | ||
| Q3 24 | $319.0M | $-886.0M | ||
| Q2 24 | $340.0M | $7.0B |
自由现金流FLEXJD
| Q1 26 | $212.0M | — | ||
| Q4 25 | $272.0M | $2.7B | ||
| Q3 25 | $303.0M | $-1.1B | ||
| Q2 25 | $266.0M | $3.3B | ||
| Q1 25 | $321.0M | $-2.6B | ||
| Q4 24 | $301.0M | $3.3B | ||
| Q3 24 | $216.0M | $-1.4B | ||
| Q2 24 | $229.0M | $6.8B |
自由现金流率FLEXJD
| Q1 26 | 2.8% | — | ||
| Q4 25 | 3.9% | 5.0% | ||
| Q3 25 | 4.5% | -2.7% | ||
| Q2 25 | 4.0% | 6.5% | ||
| Q1 25 | 5.0% | -6.4% | ||
| Q4 24 | 4.6% | 6.9% | ||
| Q3 24 | 3.3% | -3.7% | ||
| Q2 24 | 3.6% | 16.9% |
资本支出强度FLEXJD
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 0.5% | ||
| Q3 25 | 2.2% | 0.0% | ||
| Q2 25 | 2.0% | 0.3% | ||
| Q1 25 | 1.8% | 0.3% | ||
| Q4 24 | 1.7% | 0.2% | ||
| Q3 24 | 1.6% | 1.3% | ||
| Q2 24 | 1.8% | 0.5% |
现金转化率FLEXJD
| Q1 26 | 1.65× | — | ||
| Q4 25 | 1.76× | — | ||
| Q3 25 | 2.28× | -1.26× | ||
| Q2 25 | 2.08× | 3.64× | ||
| Q1 25 | 1.95× | -1.62× | ||
| Q4 24 | 1.57× | 2.18× | ||
| Q3 24 | 1.49× | -0.48× | ||
| Q2 24 | 2.45× | 3.73× |
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
FLEX
暂无分部数据
JD
| JD Retail | $43.2B | 80% |
| JD Logistics | $9.1B | 17% |
| New Businesses | $2.0B | 4% |
