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佳明（GRMN）与伊利诺伊工具公司（ITW）财务数据对比。点击上方公司名可切换其他公司
伊利诺伊工具公司的季度营收约是佳明的1.9倍（$4.1B vs $2.1B），佳明净利率更高（24.9% vs 19.3%，领先5.6%），佳明同比增速更快（16.6% vs 4.1%），伊利诺伊工具公司自由现金流更多（$858.0M vs $429.6M），过去两年佳明的营收复合增速更高（24.0% vs 1.5%）
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
ITW（伊利诺伊工具公司）是美国财富500强企业，1912年由拜伦·L·史密斯创立。公司主营工程紧固件及组件、设备与耗材系统、特种产品等，依托去中心化、精简运营、以客户为中心的创新及收购策略稳步发展，在全球工业制造领域拥有较高知名度。
GRMN vs ITW — 直观对比
营收规模更大
ITW
是对方的1.9倍
$2.1B
营收增速更快
GRMN
高出12.5%
4.1%
净利率更高
GRMN
高出5.6%
19.3%
自由现金流更多
ITW
多$428.4M
$429.6M
两年增速更快
GRMN
近两年复合增速
1.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $4.1B |
| 净利润 | $528.7M | $790.0M |
| 毛利率 | 59.2% | 53.0% |
| 营业利润率 | 28.9% | 26.5% |
| 净利率 | 24.9% | 19.3% |
| 营收同比 | 16.6% | 4.1% |
| 净利润同比 | 21.3% | 5.3% |
| 每股收益（稀释后） | $2.72 | $2.72 |
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GRMNITW
| Q4 25 | $2.1B | $4.1B | ||
| Q3 25 | $1.8B | $4.1B | ||
| Q2 25 | $1.8B | $4.1B | ||
| Q1 25 | $1.5B | $3.8B | ||
| Q4 24 | $1.8B | $3.9B | ||
| Q3 24 | $1.6B | $4.0B | ||
| Q2 24 | $1.5B | $4.0B | ||
| Q1 24 | $1.4B | $4.0B |
净利润GRMNITW
| Q4 25 | $528.7M | $790.0M | ||
| Q3 25 | $401.6M | $821.0M | ||
| Q2 25 | $400.8M | $755.0M | ||
| Q1 25 | $332.8M | $700.0M | ||
| Q4 24 | $435.7M | $750.0M | ||
| Q3 24 | $399.1M | $1.2B | ||
| Q2 24 | $300.6M | $759.0M | ||
| Q1 24 | $276.0M | $819.0M |
毛利率GRMNITW
| Q4 25 | 59.2% | 53.0% | ||
| Q3 25 | 59.1% | 53.2% | ||
| Q2 25 | 58.8% | 52.8% | ||
| Q1 25 | 57.6% | 52.6% | ||
| Q4 24 | 59.3% | 52.1% | ||
| Q3 24 | 60.0% | 52.5% | ||
| Q2 24 | 57.3% | 52.3% | ||
| Q1 24 | 58.1% | 51.7% |
营业利润率GRMNITW
| Q4 25 | 28.9% | 26.5% | ||
| Q3 25 | 25.8% | 27.4% | ||
| Q2 25 | 26.0% | 26.4% | ||
| Q1 25 | 21.7% | 24.8% | ||
| Q4 24 | 28.3% | 26.2% | ||
| Q3 24 | 27.6% | 26.5% | ||
| Q2 24 | 22.7% | 26.2% | ||
| Q1 24 | 21.6% | 28.4% |
净利率GRMNITW
| Q4 25 | 24.9% | 19.3% | ||
| Q3 25 | 22.7% | 20.2% | ||
| Q2 25 | 22.1% | 18.6% | ||
| Q1 25 | 21.7% | 18.2% | ||
| Q4 24 | 23.9% | 19.1% | ||
| Q3 24 | 25.2% | 29.2% | ||
| Q2 24 | 20.0% | 18.8% | ||
| Q1 24 | 20.0% | 20.6% |
每股收益（稀释后）GRMNITW
| Q4 25 | $2.72 | $2.72 | ||
| Q3 25 | $2.08 | $2.81 | ||
| Q2 25 | $2.07 | $2.58 | ||
| Q1 25 | $1.72 | $2.38 | ||
| Q4 24 | $2.24 | $2.53 | ||
| Q3 24 | $2.07 | $3.91 | ||
| Q2 24 | $1.56 | $2.54 | ||
| Q1 24 | $1.43 | $2.73 |
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 | $2.3B | $851.0M |
| 总债务越低越好 | — | $7.7B |
| 股东权益账面价值 | $9.0B | $3.2B |
| 总资产 | $11.0B | $16.1B |
| 负债/权益比越低杠杆越低 | — | 2.38× |
8季度趋势，按日历期对齐
现金及短期投资GRMNITW
| Q4 25 | $2.3B | $851.0M | ||
| Q3 25 | $2.1B | $924.0M | ||
| Q2 25 | $2.1B | $788.0M | ||
| Q1 25 | $2.2B | $873.0M | ||
| Q4 24 | $2.1B | $948.0M | ||
| Q3 24 | $2.0B | $947.0M | ||
| Q2 24 | $1.9B | $862.0M | ||
| Q1 24 | $1.9B | $959.0M |
总债务GRMNITW
| Q4 25 | — | $7.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $7.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GRMNITW
| Q4 25 | $9.0B | $3.2B | ||
| Q3 25 | $8.5B | $3.2B | ||
| Q2 25 | $8.1B | $3.2B | ||
| Q1 25 | $8.2B | $3.2B | ||
| Q4 24 | $7.8B | $3.3B | ||
| Q3 24 | $7.5B | $3.4B | ||
| Q2 24 | $7.0B | $3.0B | ||
| Q1 24 | $7.2B | $3.0B |
总资产GRMNITW
| Q4 25 | $11.0B | $16.1B | ||
| Q3 25 | $10.5B | $16.1B | ||
| Q2 25 | $10.3B | $16.0B | ||
| Q1 25 | $9.8B | $15.5B | ||
| Q4 24 | $9.6B | $15.1B | ||
| Q3 24 | $9.3B | $15.8B | ||
| Q2 24 | $8.9B | $15.6B | ||
| Q1 24 | $8.6B | $15.1B |
负债/权益比GRMNITW
| Q4 25 | — | 2.38× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.14× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $553.8M | $963.0M |
| 自由现金流经营现金流 - 资本支出 | $429.6M | $858.0M |
| 自由现金流率自由现金流/营收 | 20.2% | 21.0% |
| 资本支出强度资本支出/营收 | 5.8% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.05× | 1.22× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $2.7B |
8季度趋势，按日历期对齐
经营现金流GRMNITW
| Q4 25 | $553.8M | $963.0M | ||
| Q3 25 | $485.6M | $1.0B | ||
| Q2 25 | $173.2M | $550.0M | ||
| Q1 25 | $420.8M | $592.0M | ||
| Q4 24 | $483.9M | $1.1B | ||
| Q3 24 | $258.0M | $891.0M | ||
| Q2 24 | $255.3M | $687.0M | ||
| Q1 24 | $435.3M | $589.0M |
自由现金流GRMNITW
| Q4 25 | $429.6M | $858.0M | ||
| Q3 25 | $425.1M | $904.0M | ||
| Q2 25 | $127.5M | $449.0M | ||
| Q1 25 | $380.7M | $496.0M | ||
| Q4 24 | $399.2M | $996.0M | ||
| Q3 24 | $219.4M | $783.0M | ||
| Q2 24 | $218.2M | $571.0M | ||
| Q1 24 | $402.1M | $494.0M |
自由现金流率GRMNITW
| Q4 25 | 20.2% | 21.0% | ||
| Q3 25 | 24.0% | 22.3% | ||
| Q2 25 | 7.0% | 11.1% | ||
| Q1 25 | 24.8% | 12.9% | ||
| Q4 24 | 21.9% | 25.3% | ||
| Q3 24 | 13.8% | 19.7% | ||
| Q2 24 | 14.5% | 14.2% | ||
| Q1 24 | 29.1% | 12.4% |
资本支出强度GRMNITW
| Q4 25 | 5.8% | 2.6% | ||
| Q3 25 | 3.4% | 2.9% | ||
| Q2 25 | 2.5% | 2.5% | ||
| Q1 25 | 2.6% | 2.5% | ||
| Q4 24 | 4.6% | 3.0% | ||
| Q3 24 | 2.4% | 2.7% | ||
| Q2 24 | 2.5% | 2.9% | ||
| Q1 24 | 2.4% | 2.4% |
现金转化率GRMNITW
| Q4 25 | 1.05× | 1.22× | ||
| Q3 25 | 1.21× | 1.24× | ||
| Q2 25 | 0.43× | 0.73× | ||
| Q1 25 | 1.26× | 0.85× | ||
| Q4 24 | 1.11× | 1.49× | ||
| Q3 24 | 0.65× | 0.77× | ||
| Q2 24 | 0.85× | 0.91× | ||
| Q1 24 | 1.58× | 0.72× |
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
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
ITW
暂无分部数据
