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伟创力（FLEX）与美国合众银行（USB）财务数据对比。点击上方公司名可切换其他公司
美国合众银行的季度营收约是伟创力的1.0倍（$7.4B vs $7.1B），美国合众银行净利率更高（27.8% vs 3.4%，领先24.4%），伟创力同比增速更快（7.7% vs 5.1%），过去两年伟创力的营收复合增速更高（25.2% vs 4.7%）
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。
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
FLEX vs USB — 直观对比
营收规模更大
USB
是对方的1.0倍
$7.1B
营收增速更快
FLEX
高出2.6%
5.1%
净利率更高
USB
高出24.4%
3.4%
两年增速更快
FLEX
近两年复合增速
4.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.1B | $7.4B |
| 净利润 | $239.0M | $2.0B |
| 毛利率 | 9.6% | — |
| 营业利润率 | 5.5% | 34.4% |
| 净利率 | 3.4% | 27.8% |
| 营收同比 | 7.7% | 5.1% |
| 净利润同比 | -9.1% | 23.0% |
| 每股收益（稀释后） | $0.64 | $1.26 |
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FLEXUSB
| Q4 25 | $7.1B | $7.4B | ||
| Q3 25 | $6.8B | $7.3B | ||
| Q2 25 | $6.6B | $7.0B | ||
| Q1 25 | $6.4B | $7.0B | ||
| Q4 24 | $6.6B | $7.0B | ||
| Q3 24 | $6.5B | $6.9B | ||
| Q2 24 | $6.3B | $6.9B | ||
| Q1 24 | $4.5B | $6.7B |
净利润FLEXUSB
| Q4 25 | $239.0M | $2.0B | ||
| Q3 25 | $199.0M | $2.0B | ||
| Q2 25 | $192.0M | $1.8B | ||
| Q1 25 | $222.0M | $1.7B | ||
| Q4 24 | $263.0M | $1.7B | ||
| Q3 24 | $214.0M | $1.7B | ||
| Q2 24 | $139.0M | $1.6B | ||
| Q1 24 | $395.0M | $1.3B |
毛利率FLEXUSB
| 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FLEXUSB
| Q4 25 | 5.5% | 34.4% | ||
| Q3 25 | 4.4% | 34.5% | ||
| Q2 25 | 4.7% | 32.7% | ||
| Q1 25 | 4.8% | 31.0% | ||
| Q4 24 | 5.1% | 30.1% | ||
| Q3 24 | 4.5% | 30.2% | ||
| Q2 24 | 3.7% | 29.9% | ||
| Q1 24 | -3.6% | 24.9% |
净利率FLEXUSB
| Q4 25 | 3.4% | 27.8% | ||
| Q3 25 | 2.9% | 27.3% | ||
| Q2 25 | 2.9% | 25.9% | ||
| Q1 25 | 3.5% | 24.6% | ||
| Q4 24 | 4.0% | 23.7% | ||
| Q3 24 | 3.3% | 25.0% | ||
| Q2 24 | 2.2% | 23.3% | ||
| Q1 24 | 8.8% | 19.6% |
每股收益（稀释后）FLEXUSB
| Q4 25 | $0.64 | $1.26 | ||
| Q3 25 | $0.52 | $1.22 | ||
| Q2 25 | $0.50 | $1.11 | ||
| Q1 25 | $0.56 | $1.03 | ||
| Q4 24 | $0.67 | $1.01 | ||
| Q3 24 | $0.54 | $1.03 | ||
| Q2 24 | $0.34 | $0.97 | ||
| Q1 24 | $0.91 | $0.78 |
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 | $65.2B |
| 总资产 | $20.8B | $692.3B |
| 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FLEXUSB
| 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FLEXUSB
| 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FLEXUSB
| Q4 25 | $5.1B | $65.2B | ||
| Q3 25 | $5.0B | $63.3B | ||
| Q2 25 | $5.1B | $61.4B | ||
| Q1 25 | $5.0B | $60.1B | ||
| Q4 24 | $5.0B | $58.6B | ||
| Q3 24 | $5.0B | $58.9B | ||
| Q2 24 | $5.0B | $56.4B | ||
| Q1 24 | $5.3B | $55.6B |
总资产FLEXUSB
| Q4 25 | $20.8B | $692.3B | ||
| Q3 25 | $19.5B | $695.4B | ||
| Q2 25 | $19.1B | $686.4B | ||
| Q1 25 | $18.4B | $676.5B | ||
| Q4 24 | $18.3B | $678.3B | ||
| Q3 24 | $18.6B | $686.5B | ||
| Q2 24 | $17.7B | $680.1B | ||
| Q1 24 | $18.3B | $683.6B |
负债/权益比FLEXUSB
| 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 | $2.8B |
| 自由现金流经营现金流 - 资本支出 | $272.0M | — |
| 自由现金流率自由现金流/营收 | 3.9% | — |
| 资本支出强度资本支出/营收 | 2.1% | — |
| 现金转化率经营现金流/净利润 | 1.76× | 1.39× |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流FLEXUSB
| Q4 25 | $420.0M | $2.8B | ||
| Q3 25 | $453.0M | $3.4B | ||
| Q2 25 | $399.0M | $2.0B | ||
| Q1 25 | $433.0M | $-285.0M | ||
| Q4 24 | $413.0M | $4.8B | ||
| Q3 24 | $319.0M | $972.0M | ||
| Q2 24 | $340.0M | $2.9B | ||
| Q1 24 | $679.0M | $2.7B |
自由现金流FLEXUSB
| 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 | — | ||
| Q1 24 | $598.0M | — |
自由现金流率FLEXUSB
| 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% | — | ||
| Q1 24 | 13.3% | — |
资本支出强度FLEXUSB
| 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% | — | ||
| Q1 24 | 1.8% | — |
现金转化率FLEXUSB
| Q4 25 | 1.76× | 1.39× | ||
| Q3 25 | 2.28× | 1.69× | ||
| Q2 25 | 2.08× | 1.12× | ||
| Q1 25 | 1.95× | -0.17× | ||
| Q4 24 | 1.57× | 2.87× | ||
| Q3 24 | 1.49× | 0.57× | ||
| Q2 24 | 2.45× | 1.79× | ||
| Q1 24 | 1.72× | 2.02× |
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% |
USB
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