vs
伟创力（FLEX）与摩根士丹利（MS）财务数据对比。点击上方公司名可切换其他公司
伟创力的季度营收约是摩根士丹利的1.6倍（$27.9B vs $17.9B），摩根士丹利净利率更高（24.6% vs 0.9%，领先23.7%）
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。
摩根士丹利是总部位于美国纽约曼哈顿中城百老汇1585号的跨国投资银行及金融服务提供商，在全球42个国家设有办事处，员工超8万名，服务客户涵盖企业、政府、机构及个人。2023年该公司位列美国财富500强第61位，同年位居福布斯全球2000强第30位。
FLEX vs MS — 直观对比
营收规模更大
FLEX
是对方的1.6倍
$17.9B
净利率更高
MS
高出23.7%
0.9%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $27.9B | $17.9B |
| 净利润 | $250.0M | $4.4B |
| 毛利率 | 2.5% | — |
| 营业利润率 | 1.3% | 32.2% |
| 净利率 | 0.9% | 24.6% |
| 营收同比 | 16.9% | — |
| 净利润同比 | 12.6% | — |
| 每股收益（稀释后） | $0.67 | $2.68 |
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FLEXMS
| Q1 26 | $27.9B | — | ||
| Q4 25 | $7.1B | $17.9B | ||
| Q3 25 | $6.8B | $18.2B | ||
| Q2 25 | $6.6B | $16.8B | ||
| Q1 25 | $6.4B | $17.7B | ||
| Q4 24 | $6.6B | — | ||
| Q3 24 | $6.5B | $15.4B | ||
| Q2 24 | $6.3B | $15.0B |
净利润FLEXMS
| Q1 26 | $250.0M | — | ||
| Q4 25 | $239.0M | $4.4B | ||
| Q3 25 | $199.0M | $4.6B | ||
| Q2 25 | $192.0M | $3.5B | ||
| Q1 25 | $222.0M | $4.3B | ||
| Q4 24 | $263.0M | — | ||
| Q3 24 | $214.0M | $3.2B | ||
| Q2 24 | $139.0M | $3.1B |
毛利率FLEXMS
| Q1 26 | 2.5% | — | ||
| Q4 25 | 9.6% | — | ||
| Q3 25 | 9.0% | — | ||
| Q2 25 | 8.7% | — | ||
| Q1 25 | 8.8% | — | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | 8.1% | — | ||
| Q2 24 | 7.5% | — |
营业利润率FLEXMS
| Q1 26 | 1.3% | — | ||
| Q4 25 | 5.5% | 32.2% | ||
| Q3 25 | 4.4% | 33.1% | ||
| Q2 25 | 4.7% | 27.5% | ||
| Q1 25 | 4.8% | 31.3% | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 4.5% | 27.4% | ||
| Q2 24 | 3.7% | 27.1% |
净利率FLEXMS
| Q1 26 | 0.9% | — | ||
| Q4 25 | 3.4% | 24.6% | ||
| Q3 25 | 2.9% | 25.3% | ||
| Q2 25 | 2.9% | 21.1% | ||
| Q1 25 | 3.5% | 24.3% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 3.3% | 20.7% | ||
| Q2 24 | 2.2% | 20.5% |
每股收益（稀释后）FLEXMS
| Q1 26 | $0.67 | — | ||
| Q4 25 | $0.64 | $2.68 | ||
| Q3 25 | $0.52 | $2.80 | ||
| Q2 25 | $0.50 | $2.13 | ||
| Q1 25 | $0.56 | $2.60 | ||
| Q4 24 | $0.67 | — | ||
| Q3 24 | $0.54 | $1.88 | ||
| Q2 24 | $0.34 | $1.82 |
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 | $111.7B |
| 总债务越低越好 | $3.8B | $341.7B |
| 股东权益账面价值 | $5.1B | $111.6B |
| 总资产 | $22.1B | $1420.3B |
| 负债/权益比越低杠杆越低 | 0.73× | 3.06× |
8季度趋势，按日历期对齐
现金及短期投资FLEXMS
| Q1 26 | $2.4B | — | ||
| Q4 25 | $3.1B | $111.7B | ||
| Q3 25 | $2.2B | $103.7B | ||
| Q2 25 | $2.2B | $109.1B | ||
| Q1 25 | $2.3B | $90.7B | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.6B | $91.1B | ||
| Q2 24 | $2.2B | $90.2B |
总债务FLEXMS
| Q1 26 | $3.8B | — | ||
| Q4 25 | $4.4B | $341.7B | ||
| Q3 25 | $3.7B | $324.1B | ||
| Q2 25 | $3.7B | $320.1B | ||
| Q1 25 | $3.7B | $297.0B | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $3.7B | $291.2B | ||
| Q2 24 | $3.2B | $269.9B |
股东权益FLEXMS
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.1B | $111.6B | ||
| Q3 25 | $5.0B | $110.0B | ||
| Q2 25 | $5.1B | $108.2B | ||
| Q1 25 | $5.0B | $106.8B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.0B | $103.6B | ||
| Q2 24 | $5.0B | $100.7B |
总资产FLEXMS
| Q1 26 | $22.1B | — | ||
| Q4 25 | $20.8B | $1420.3B | ||
| Q3 25 | $19.5B | $1364.8B | ||
| Q2 25 | $19.1B | $1353.9B | ||
| Q1 25 | $18.4B | $1300.3B | ||
| Q4 24 | $18.3B | — | ||
| Q3 24 | $18.6B | $1258.0B | ||
| Q2 24 | $17.7B | $1212.4B |
负债/权益比FLEXMS
| Q1 26 | 0.73× | — | ||
| Q4 25 | 0.87× | 3.06× | ||
| Q3 25 | 0.73× | 2.95× | ||
| Q2 25 | 0.72× | 2.96× | ||
| Q1 25 | 0.74× | 2.78× | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.74× | 2.81× | ||
| Q2 24 | 0.64× | 2.68× |
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 | $-2.4B |
| 自由现金流经营现金流 - 资本支出 | $212.0M | — |
| 自由现金流率自由现金流/营收 | 0.8% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.65× | -0.55× |
| 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FLEXMS
| Q1 26 | $413.0M | — | ||
| Q4 25 | $420.0M | $-2.4B | ||
| Q3 25 | $453.0M | $-3.3B | ||
| Q2 25 | $399.0M | $11.8B | ||
| Q1 25 | $433.0M | $-24.0B | ||
| Q4 24 | $413.0M | — | ||
| Q3 24 | $319.0M | — | ||
| Q2 24 | $340.0M | — |
自由现金流FLEXMS
| Q1 26 | $212.0M | — | ||
| Q4 25 | $272.0M | — | ||
| Q3 25 | $303.0M | — | ||
| Q2 25 | $266.0M | — | ||
| Q1 25 | $321.0M | — | ||
| Q4 24 | $301.0M | — | ||
| Q3 24 | $216.0M | — | ||
| Q2 24 | $229.0M | — |
自由现金流率FLEXMS
| Q1 26 | 0.8% | — | ||
| Q4 25 | 3.9% | — | ||
| Q3 25 | 4.5% | — | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 3.6% | — |
资本支出强度FLEXMS
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | — | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 1.7% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 1.8% | — |
现金转化率FLEXMS
| Q1 26 | 1.65× | — | ||
| Q4 25 | 1.76× | -0.55× | ||
| Q3 25 | 2.28× | -0.72× | ||
| Q2 25 | 2.08× | 3.34× | ||
| Q1 25 | 1.95× | -5.56× | ||
| Q4 24 | 1.57× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 2.45× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
