vs
伟创力（FLEX）与德事隆（TXT）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德事隆的1.7倍（$7.1B vs $4.2B），德事隆净利率更高（5.6% vs 3.4%，领先2.2%），德事隆同比增速更快（15.6% vs 7.7%），德事隆自由现金流更多（$527.0M vs $272.0M），过去两年伟创力的营收复合增速更高（25.2% vs 15.4%）
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。
德事隆是总部位于美国罗德岛州普罗维登斯的工业集团，1923年由罗亚尔·利特尔创立，前身为特种纱线公司。旗下拥有贝尔德事隆、考泰斯、德事隆航空、莱康明发动机等子公司，业务覆盖25个国家，2020年员工总数超3.3万人，2021年位列美国财富500强第265位。
FLEX vs TXT — 直观对比
营收规模更大
FLEX
是对方的1.7倍
$4.2B
营收增速更快
TXT
高出7.9%
7.7%
净利率更高
TXT
高出2.2%
3.4%
自由现金流更多
TXT
多$255.0M
$272.0M
两年增速更快
FLEX
近两年复合增速
15.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.1B | $4.2B |
| 净利润 | $239.0M | $235.0M |
| 毛利率 | 9.6% | — |
| 营业利润率 | 5.5% | — |
| 净利率 | 3.4% | 5.6% |
| 营收同比 | 7.7% | 15.6% |
| 净利润同比 | -9.1% | 66.7% |
| 每股收益（稀释后） | $0.64 | — |
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FLEXTXT
| Q4 25 | $7.1B | $4.2B | ||
| Q3 25 | $6.8B | $3.6B | ||
| Q2 25 | $6.6B | $3.7B | ||
| Q1 25 | $6.4B | $3.3B | ||
| Q4 24 | $6.6B | $3.6B | ||
| Q3 24 | $6.5B | $3.4B | ||
| Q2 24 | $6.3B | $3.5B | ||
| Q1 24 | $4.5B | $3.1B |
净利润FLEXTXT
| Q4 25 | $239.0M | $235.0M | ||
| Q3 25 | $199.0M | $234.0M | ||
| Q2 25 | $192.0M | $245.0M | ||
| Q1 25 | $222.0M | $207.0M | ||
| Q4 24 | $263.0M | $141.0M | ||
| Q3 24 | $214.0M | $223.0M | ||
| Q2 24 | $139.0M | $259.0M | ||
| Q1 24 | $395.0M | $201.0M |
毛利率FLEXTXT
| 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% | — | ||
| Q1 24 | -0.6% | — |
营业利润率FLEXTXT
| Q4 25 | 5.5% | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 4.7% | — | ||
| Q1 25 | 4.8% | — | ||
| Q4 24 | 5.1% | 3.6% | ||
| Q3 24 | 4.5% | 7.4% | ||
| Q2 24 | 3.7% | 9.2% | ||
| Q1 24 | -3.6% | 7.6% |
净利率FLEXTXT
| Q4 25 | 3.4% | 5.6% | ||
| Q3 25 | 2.9% | 6.5% | ||
| Q2 25 | 2.9% | 6.6% | ||
| Q1 25 | 3.5% | 6.3% | ||
| Q4 24 | 4.0% | 3.9% | ||
| Q3 24 | 3.3% | 6.5% | ||
| Q2 24 | 2.2% | 7.3% | ||
| Q1 24 | 8.8% | 6.4% |
每股收益（稀释后）FLEXTXT
| Q4 25 | $0.64 | — | ||
| Q3 25 | $0.52 | — | ||
| Q2 25 | $0.50 | — | ||
| Q1 25 | $0.56 | $1.13 | ||
| Q4 24 | $0.67 | — | ||
| Q3 24 | $0.54 | — | ||
| Q2 24 | $0.34 | — | ||
| Q1 24 | $0.91 | $1.03 |
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 | $3.1B | — |
| 总债务越低越好 | $4.4B | — |
| 股东权益账面价值 | $5.1B | — |
| 总资产 | $20.8B | — |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
现金及短期投资FLEXTXT
| Q4 25 | $3.1B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.2B | — | ||
| Q1 24 | $2.5B | — |
总债务FLEXTXT
| Q4 25 | $4.4B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $3.3B | — |
股东权益FLEXTXT
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | $7.5B | ||
| Q2 25 | $5.1B | $7.4B | ||
| Q1 25 | $5.0B | $7.3B | ||
| Q4 24 | $5.0B | $7.2B | ||
| Q3 24 | $5.0B | $7.0B | ||
| Q2 24 | $5.0B | $6.9B | ||
| Q1 24 | $5.3B | $6.9B |
总资产FLEXTXT
| Q4 25 | $20.8B | — | ||
| Q3 25 | $19.5B | $17.4B | ||
| Q2 25 | $19.1B | $17.1B | ||
| Q1 25 | $18.4B | $16.9B | ||
| Q4 24 | $18.3B | $16.8B | ||
| Q3 24 | $18.6B | $16.5B | ||
| Q2 24 | $17.7B | $16.4B | ||
| Q1 24 | $18.3B | $16.4B |
负债/权益比FLEXTXT
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.74× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 0.64× | — | ||
| Q1 24 | 0.61× | — |
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 | $420.0M | $700.0M |
| 自由现金流经营现金流 - 资本支出 | $272.0M | $527.0M |
| 自由现金流率自由现金流/营收 | 3.9% | 12.6% |
| 资本支出强度资本支出/营收 | 2.1% | 4.1% |
| 现金转化率经营现金流/净利润 | 1.76× | 2.98× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $929.0M |
8季度趋势，按日历期对齐
经营现金流FLEXTXT
| Q4 25 | $420.0M | $700.0M | ||
| Q3 25 | $453.0M | $349.0M | ||
| Q2 25 | $399.0M | $387.0M | ||
| Q1 25 | $433.0M | $-124.0M | ||
| Q4 24 | $413.0M | $446.0M | ||
| Q3 24 | $319.0M | $208.0M | ||
| Q2 24 | $340.0M | $367.0M | ||
| Q1 24 | $679.0M | $-7.0M |
自由现金流FLEXTXT
| Q4 25 | $272.0M | $527.0M | ||
| Q3 25 | $303.0M | $273.0M | ||
| Q2 25 | $266.0M | $309.0M | ||
| Q1 25 | $321.0M | $-180.0M | ||
| Q4 24 | $301.0M | $293.0M | ||
| Q3 24 | $216.0M | $137.0M | ||
| Q2 24 | $229.0M | $293.0M | ||
| Q1 24 | $598.0M | $-73.0M |
自由现金流率FLEXTXT
| Q4 25 | 3.9% | 12.6% | ||
| Q3 25 | 4.5% | 7.6% | ||
| Q2 25 | 4.0% | 8.3% | ||
| Q1 25 | 5.0% | -5.4% | ||
| Q4 24 | 4.6% | 8.1% | ||
| Q3 24 | 3.3% | 4.0% | ||
| Q2 24 | 3.6% | 8.3% | ||
| Q1 24 | 13.3% | -2.3% |
资本支出强度FLEXTXT
| Q4 25 | 2.1% | 4.1% | ||
| Q3 25 | 2.2% | 2.1% | ||
| Q2 25 | 2.0% | 2.1% | ||
| Q1 25 | 1.8% | 1.7% | ||
| Q4 24 | 1.7% | 4.2% | ||
| Q3 24 | 1.6% | 2.1% | ||
| Q2 24 | 1.8% | 2.1% | ||
| Q1 24 | 1.8% | 2.1% |
现金转化率FLEXTXT
| Q4 25 | 1.76× | 2.98× | ||
| Q3 25 | 2.28× | 1.49× | ||
| Q2 25 | 2.08× | 1.58× | ||
| Q1 25 | 1.95× | -0.60× | ||
| Q4 24 | 1.57× | 3.16× | ||
| Q3 24 | 1.49× | 0.93× | ||
| Q2 24 | 2.45× | 1.42× | ||
| Q1 24 | 1.72× | -0.03× |
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
| Flex Reliability Solutions FRS | $3.2B | 46% |
| Transferred At Point In Time | $2.7B | 38% |
| Transferred Over Time | $1.1B | 16% |
TXT
| Aircraft | $1.2B | 29% |
| Military Aircraft And Support Programs | $655.0M | 16% |
| Aftermarket Parts And Services | $551.0M | 13% |
| Services | $507.0M | 12% |
| Fuel Systems And Functional Components | $480.0M | 11% |
| Textron Systems | $323.0M | 8% |
| Other | $317.0M | 8% |
| US Government | $119.0M | 3% |
| Finance | $18.0M | 0% |
| Textron E Aviation Segment | $7.0M | 0% |
