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伯克希尔·哈撒韦（HEI）与KRATOS DEFENSE & SECURITY SOLUTIONS, INC.（KTOS）财务数据对比。点击上方公司名可切换其他公司
伯克希尔·哈撒韦的季度营收约是KRATOS DEFENSE & SECURITY SOLUTIONS, INC.的3.5倍（$1.2B vs $345.1M），伯克希尔·哈撒韦净利率更高（15.6% vs 1.7%，领先13.9%），KRATOS DEFENSE & SECURITY SOLUTIONS, INC.同比增速更快（21.9% vs 19.3%），伯克希尔·哈撒韦自由现金流更多（$268.5M vs $-12.1M），过去两年伯克希尔·哈撒韦的营收复合增速更高（16.2% vs 11.6%）
伯克希尔·哈撒韦是总部位于美国内布拉斯加州奥马哈的跨国综合控股集团，最初主营纺织品制造，1965年起在董事长兼首席执行官沃伦·巴菲特、副董事长查理·芒格的带领下转型为多元化企业集团，2026年初格雷格·阿贝尔接任首席执行官，巴菲特个人持有公司38.4%的A类有投票权股份，对应15.1%的整体经济权益。
Kratos国防与安全解决方案公司是总部位于美国加利福尼亚州圣迭戈的科技企业，主营武器及军用电子设备生产制造，客户涵盖美国联邦政府、海外多国政府、商业企业及美国各州与地方政府机构，旗下共设有6个业务部门。
HEI vs KTOS — 直观对比
营收规模更大
HEI
是对方的3.5倍
$345.1M
营收增速更快
KTOS
高出2.6%
19.3%
净利率更高
HEI
高出13.9%
1.7%
自由现金流更多
HEI
多$280.6M
$-12.1M
两年增速更快
HEI
近两年复合增速
11.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $345.1M |
| 净利润 | $188.3M | $5.9M |
| 毛利率 | 40.2% | 24.2% |
| 营业利润率 | 23.1% | 2.4% |
| 净利率 | 15.6% | 1.7% |
| 营收同比 | 19.3% | 21.9% |
| 净利润同比 | 34.8% | 51.3% |
| 每股收益（稀释后） | $1.32 | $0.03 |
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HEIKTOS
| Q4 25 | $1.2B | $345.1M | ||
| Q3 25 | $1.1B | $347.6M | ||
| Q2 25 | $1.1B | $351.5M | ||
| Q1 25 | $1.0B | $302.6M | ||
| Q4 24 | $1.0B | $283.1M | ||
| Q3 24 | $992.2M | $275.9M | ||
| Q2 24 | $955.4M | $300.1M | ||
| Q1 24 | $896.4M | $277.2M |
净利润HEIKTOS
| Q4 25 | $188.3M | $5.9M | ||
| Q3 25 | $177.3M | $8.7M | ||
| Q2 25 | $156.8M | $2.9M | ||
| Q1 25 | $168.0M | $4.5M | ||
| Q4 24 | $139.7M | $3.9M | ||
| Q3 24 | $136.6M | $3.2M | ||
| Q2 24 | $123.1M | $7.9M | ||
| Q1 24 | $114.7M | $1.3M |
毛利率HEIKTOS
| Q4 25 | 40.2% | 24.2% | ||
| Q3 25 | 39.8% | 22.2% | ||
| Q2 25 | 39.9% | 21.0% | ||
| Q1 25 | 39.4% | 24.3% | ||
| Q4 24 | 38.9% | 24.7% | ||
| Q3 24 | 39.2% | 25.1% | ||
| Q2 24 | 38.9% | 25.7% | ||
| Q1 24 | 38.7% | 25.6% |
营业利润率HEIKTOS
| Q4 25 | 23.1% | 2.4% | ||
| Q3 25 | 23.1% | 2.0% | ||
| Q2 25 | 22.6% | 1.1% | ||
| Q1 25 | 22.0% | 2.2% | ||
| Q4 24 | 21.6% | 1.1% | ||
| Q3 24 | 21.8% | 2.4% | ||
| Q2 24 | 21.9% | 4.2% | ||
| Q1 24 | 20.1% | 2.5% |
净利率HEIKTOS
| Q4 25 | 15.6% | 1.7% | ||
| Q3 25 | 15.5% | 2.5% | ||
| Q2 25 | 14.3% | 0.8% | ||
| Q1 25 | 16.3% | 1.5% | ||
| Q4 24 | 13.8% | 1.4% | ||
| Q3 24 | 13.8% | 1.2% | ||
| Q2 24 | 12.9% | 2.6% | ||
| Q1 24 | 12.8% | 0.5% |
每股收益（稀释后）HEIKTOS
| Q4 25 | $1.32 | $0.03 | ||
| Q3 25 | $1.26 | $0.05 | ||
| Q2 25 | $1.12 | $0.02 | ||
| Q1 25 | $1.20 | $0.03 | ||
| Q4 24 | $1.00 | $0.03 | ||
| Q3 24 | $0.97 | $0.02 | ||
| Q2 24 | $0.88 | $0.05 | ||
| Q1 24 | $0.82 | $0.01 |
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 | $217.8M | $560.6M |
| 总债务越低越好 | $2.2B | — |
| 股东权益账面价值 | $4.3B | $2.0B |
| 总资产 | $8.5B | $2.5B |
| 负债/权益比越低杠杆越低 | 0.50× | — |
8季度趋势，按日历期对齐
现金及短期投资HEIKTOS
| Q4 25 | $217.8M | $560.6M | ||
| Q3 25 | $261.9M | $565.9M | ||
| Q2 25 | $242.3M | $783.6M | ||
| Q1 25 | $165.5M | $263.7M | ||
| Q4 24 | $162.1M | $329.3M | ||
| Q3 24 | $202.9M | $301.5M | ||
| Q2 24 | $204.2M | $308.2M | ||
| Q1 24 | $196.3M | $338.9M |
总债务HEIKTOS
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.5B | — |
股东权益HEIKTOS
| Q4 25 | $4.3B | $2.0B | ||
| Q3 25 | $4.1B | $2.0B | ||
| Q2 25 | $4.0B | $2.0B | ||
| Q1 25 | $3.7B | $1.4B | ||
| Q4 24 | $3.6B | $1.4B | ||
| Q3 24 | $3.5B | $1.3B | ||
| Q2 24 | $3.4B | $1.3B | ||
| Q1 24 | $3.3B | $1.3B |
总资产HEIKTOS
| Q4 25 | $8.5B | $2.5B | ||
| Q3 25 | $8.5B | $2.4B | ||
| Q2 25 | $8.1B | $2.6B | ||
| Q1 25 | $7.9B | $2.0B | ||
| Q4 24 | $7.6B | $2.0B | ||
| Q3 24 | $7.4B | $1.9B | ||
| Q2 24 | $7.4B | $1.9B | ||
| Q1 24 | $7.3B | $1.9B |
负债/权益比HEIKTOS
| Q4 25 | 0.50× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.63× | — | ||
| Q4 24 | 0.61× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.70× | — | ||
| Q1 24 | 0.76× | — |
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 | $295.3M | $12.1M |
| 自由现金流经营现金流 - 资本支出 | $268.5M | $-12.1M |
| 自由现金流率自由现金流/营收 | 22.2% | -3.5% |
| 资本支出强度资本支出/营收 | 2.2% | 7.0% |
| 现金转化率经营现金流/净利润 | 1.57× | 2.05× |
| 过去12个月自由现金流最近4个季度 | $861.4M | $-137.4M |
8季度趋势，按日历期对齐
经营现金流HEIKTOS
| Q4 25 | $295.3M | $12.1M | ||
| Q3 25 | $231.2M | $-13.3M | ||
| Q2 25 | $204.7M | $-11.7M | ||
| Q1 25 | $203.0M | $-29.2M | ||
| Q4 24 | $205.6M | $45.6M | ||
| Q3 24 | $214.0M | $6.1M | ||
| Q2 24 | $141.1M | $-2.7M | ||
| Q1 24 | $111.7M | $700.0K |
自由现金流HEIKTOS
| Q4 25 | $268.5M | $-12.1M | ||
| Q3 25 | $218.5M | $-41.3M | ||
| Q2 25 | $188.7M | $-32.2M | ||
| Q1 25 | $185.7M | $-51.8M | ||
| Q4 24 | $189.5M | $32.0M | ||
| Q3 24 | $198.1M | $-9.2M | ||
| Q2 24 | $128.2M | $-15.4M | ||
| Q1 24 | $98.3M | $-15.9M |
自由现金流率HEIKTOS
| Q4 25 | 22.2% | -3.5% | ||
| Q3 25 | 19.0% | -11.9% | ||
| Q2 25 | 17.2% | -9.2% | ||
| Q1 25 | 18.0% | -17.1% | ||
| Q4 24 | 18.7% | 11.3% | ||
| Q3 24 | 20.0% | -3.3% | ||
| Q2 24 | 13.4% | -5.1% | ||
| Q1 24 | 11.0% | -5.7% |
资本支出强度HEIKTOS
| Q4 25 | 2.2% | 7.0% | ||
| Q3 25 | 1.1% | 8.1% | ||
| Q2 25 | 1.5% | 5.8% | ||
| Q1 25 | 1.7% | 7.5% | ||
| Q4 24 | 1.6% | 4.8% | ||
| Q3 24 | 1.6% | 5.5% | ||
| Q2 24 | 1.4% | 4.2% | ||
| Q1 24 | 1.5% | 6.0% |
现金转化率HEIKTOS
| Q4 25 | 1.57× | 2.05× | ||
| Q3 25 | 1.30× | -1.53× | ||
| Q2 25 | 1.31× | -4.03× | ||
| Q1 25 | 1.21× | -6.49× | ||
| Q4 24 | 1.47× | 11.69× | ||
| Q3 24 | 1.57× | 1.91× | ||
| Q2 24 | 1.15× | -0.34× | ||
| Q1 24 | 0.97× | 0.54× |
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
HEI
| Aftermarket Replacement Parts | $510.0M | 42% |
| Electronic Componentsfor Defense Spaceand Aerospace | $311.8M | 26% |
| Defenseand Space | $170.6M | 14% |
| Specialty Products | $118.9M | 10% |
| Other Electronic Components | $73.0M | 6% |
| Other Industries | $15.9M | 1% |
KTOS
| Kratos Government Solutions | $276.7M | 80% |
| Non US Government | $65.0M | 19% |
| Norden Millimeter Inc | $5.3M | 2% |
