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费森尤斯医疗（FMS）与Leidos（LDOS）财务数据对比。点击上方公司名可切换其他公司
费森尤斯医疗的季度营收约是Leidos的1.3倍（$5.5B vs $4.2B），费森尤斯医疗净利率更高（7.9% vs 7.8%，领先0.1%），费森尤斯医疗同比增速更快（-0.3% vs -3.5%）
费森尤斯医疗是德国知名医疗保健企业，核心业务为肾脏透析服务，在全球运营4171家门诊透析中心，服务约34.54万名患者。公司主要为终末期肾病患者提供治疗服务，该类患者需终身每周接受3次透析治疗以维持生命。
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。
FMS vs LDOS — 直观对比
营收规模更大
FMS
是对方的1.3倍
$4.2B
营收增速更快
FMS
高出3.2%
-3.5%
净利率更高
FMS
高出0.1%
7.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $4.2B |
| 净利润 | $434.2M | $327.0M |
| 毛利率 | 27.4% | 17.4% |
| 营业利润率 | 11.7% | 11.3% |
| 净利率 | 7.9% | 7.8% |
| 营收同比 | -0.3% | -3.5% |
| 净利润同比 | 240.4% | 15.1% |
| 每股收益（稀释后） | — | $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FMSLDOS
| Q1 26 | — | $4.2B | ||
| Q4 25 | $5.5B | $4.4B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $5.5B | — | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.1B |
净利润FMSLDOS
| Q1 26 | — | $327.0M | ||
| Q4 25 | $434.2M | $367.0M | ||
| Q3 25 | — | $391.0M | ||
| Q2 25 | — | $363.0M | ||
| Q1 25 | — | $284.0M | ||
| Q4 24 | $127.6M | — | ||
| Q3 24 | — | $364.0M | ||
| Q2 24 | — | $322.0M |
毛利率FMSLDOS
| Q1 26 | — | 17.4% | ||
| Q4 25 | 27.4% | 18.0% | ||
| Q3 25 | — | 18.0% | ||
| Q2 25 | — | 17.5% | ||
| Q1 25 | — | 15.6% | ||
| Q4 24 | 25.0% | — | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | 16.6% |
营业利润率FMSLDOS
| Q1 26 | — | 11.3% | ||
| Q4 25 | 11.7% | 12.0% | ||
| Q3 25 | — | 13.5% | ||
| Q2 25 | — | 12.5% | ||
| Q1 25 | — | 9.7% | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | — | 12.4% | ||
| Q2 24 | — | 11.6% |
净利率FMSLDOS
| Q1 26 | — | 7.8% | ||
| Q4 25 | 7.9% | 8.2% | ||
| Q3 25 | — | 9.2% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | — | 8.7% | ||
| Q2 24 | — | 7.8% |
每股收益（稀释后）FMSLDOS
| Q1 26 | — | $2.54 | ||
| Q4 25 | — | $2.82 | ||
| Q3 25 | — | $3.01 | ||
| Q2 25 | — | $2.77 | ||
| Q1 25 | — | $2.10 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.68 | ||
| Q2 24 | — | $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 | $1.7B | $1.1B |
| 总债务越低越好 | — | $4.6B |
| 股东权益账面价值 | $15.4B | $4.9B |
| 总资产 | $33.5B | $13.5B |
| 负债/权益比越低杠杆越低 | — | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资FMSLDOS
| Q1 26 | — | $1.1B | ||
| Q4 25 | $1.7B | $974.0M | ||
| Q3 25 | — | $930.0M | ||
| Q2 25 | — | $842.0M | ||
| Q1 25 | — | $943.0M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $823.0M |
总债务FMSLDOS
| Q1 26 | — | $4.6B | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $5.0B | ||
| Q1 25 | — | $4.1B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.1B |
股东权益FMSLDOS
| Q1 26 | — | $4.9B | ||
| Q4 25 | $15.4B | $4.9B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | $17.0B | — | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $4.5B |
总资产FMSLDOS
| Q1 26 | — | $13.5B | ||
| Q4 25 | $33.5B | $13.5B | ||
| Q3 25 | — | $13.5B | ||
| Q2 25 | — | $13.2B | ||
| Q1 25 | — | $13.1B | ||
| Q4 24 | $36.3B | — | ||
| Q3 24 | — | $13.3B | ||
| Q2 24 | — | $12.9B |
负债/权益比FMSLDOS
| Q1 26 | — | 0.94× | ||
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 1.18× | ||
| Q1 25 | — | 0.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 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 | $2.9B | $495.0M |
| 自由现金流经营现金流 - 资本支出 | — | $452.0M |
| 自由现金流率自由现金流/营收 | — | 10.8% |
| 资本支出强度资本支出/营收 | — | 1.0% |
| 现金转化率经营现金流/净利润 | 6.67× | 1.51× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FMSLDOS
| Q1 26 | — | $495.0M | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | — | $711.0M | ||
| Q2 25 | — | $58.0M | ||
| Q1 25 | — | $299.0M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | — | $656.0M | ||
| Q2 24 | — | $374.0M |
自由现金流FMSLDOS
| Q1 26 | — | $452.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $680.0M | ||
| Q2 25 | — | $36.0M | ||
| Q1 25 | — | $213.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $633.0M | ||
| Q2 24 | — | $351.0M |
自由现金流率FMSLDOS
| Q1 26 | — | 10.8% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 8.5% |
资本支出强度FMSLDOS
| Q1 26 | — | 1.0% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.6% |
现金转化率FMSLDOS
| Q1 26 | — | 1.51× | ||
| Q4 25 | 6.67× | — | ||
| Q3 25 | — | 1.82× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | 20.20× | — | ||
| Q3 24 | — | 1.80× | ||
| Q2 24 | — | 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
FMS
暂无分部数据
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% |
