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国际商业机器公司（IBM）与林德（LIN）财务数据对比。点击上方公司名可切换其他公司
国际商业机器公司的季度营收约是林德的1810.7倍（$15.9B vs $8.8M），国际商业机器公司同比增速更快（9.7% vs 8.2%），国际商业机器公司自由现金流更多（$2.2B vs $898.0K），过去两年国际商业机器公司的营收复合增速更高（0.4% vs -96.7%）
国际商业机器公司（IBM）是总部位于美国纽约阿蒙克的跨国科技企业，业务覆盖全球175个以上国家和地区，为道琼斯工业平均指数30只成分股之一。IBM拥有全球最大的工业研究体系，在十余个国家设有19家研究机构，1993至2021年连续29年蝉联美国年专利授权量首位。
林德是全球知名跨国化工企业，按市场份额及营收计为全球最大工业气体供应商。公司1879年由德国科学家、工程师卡尔·冯·林德在德国威斯巴登创立，现总部位于英国沃金，在爱尔兰注册，2018年由原林德股份公司与1907年在美国成立的普莱克斯合并组建。
IBM vs LIN — 直观对比
营收规模更大
IBM
是对方的1810.7倍
$8.8M
营收增速更快
IBM
高出1.4%
8.2%
自由现金流更多
IBM
多$2.2B
$898.0K
两年增速更快
IBM
近两年复合增速
-96.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $15.9B | $8.8M |
| 净利润 | $1.2B | — |
| 毛利率 | 56.3% | 48.5% |
| 营业利润率 | — | 27.8% |
| 净利率 | 7.6% | — |
| 营收同比 | 9.7% | 8.2% |
| 净利润同比 | 15.3% | — |
| 每股收益（稀释后） | $1.28 | $3.98 |
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IBMLIN
| Q1 26 | $15.9B | $8.8M | ||
| Q4 25 | $19.7B | $8.8B | ||
| Q3 25 | $16.3B | $8.6B | ||
| Q2 25 | $17.0B | $8.5B | ||
| Q1 25 | $14.5B | $8.1B | ||
| Q4 24 | $17.6B | $8.3B | ||
| Q3 24 | $15.0B | $8.4B | ||
| Q2 24 | $15.8B | $8.3B |
净利润IBMLIN
| Q1 26 | $1.2B | — | ||
| Q4 25 | $5.6B | $1.5B | ||
| Q3 25 | $1.7B | $1.9B | ||
| Q2 25 | $2.2B | $1.8B | ||
| Q1 25 | $1.1B | $1.7B | ||
| Q4 24 | $2.9B | $1.7B | ||
| Q3 24 | $-330.0M | $1.6B | ||
| Q2 24 | $1.8B | $1.7B |
毛利率IBMLIN
| Q1 26 | 56.3% | 48.5% | ||
| Q4 25 | 60.6% | — | ||
| Q3 25 | 57.3% | — | ||
| Q2 25 | 58.8% | — | ||
| Q1 25 | 55.2% | — | ||
| Q4 24 | 59.5% | — | ||
| Q3 24 | 56.3% | — | ||
| Q2 24 | 56.8% | — |
营业利润率IBMLIN
| Q1 26 | — | 27.8% | ||
| Q4 25 | 21.0% | 23.0% | ||
| Q3 25 | 14.9% | 27.5% | ||
| Q2 25 | 15.3% | 27.7% | ||
| Q1 25 | 8.0% | 26.9% | ||
| Q4 24 | 18.8% | 27.4% | ||
| Q3 24 | -5.4% | 25.0% | ||
| Q2 24 | 14.1% | 26.4% |
净利率IBMLIN
| Q1 26 | 7.6% | — | ||
| Q4 25 | 28.4% | 17.5% | ||
| Q3 25 | 10.7% | 22.4% | ||
| Q2 25 | 12.9% | 20.8% | ||
| Q1 25 | 7.3% | 20.6% | ||
| Q4 24 | 16.6% | 20.8% | ||
| Q3 24 | -2.2% | 18.5% | ||
| Q2 24 | 11.6% | 20.1% |
每股收益（稀释后）IBMLIN
| Q1 26 | $1.28 | $3.98 | ||
| Q4 25 | $5.90 | $3.28 | ||
| Q3 25 | $1.84 | $4.09 | ||
| Q2 25 | $2.31 | $3.73 | ||
| Q1 25 | $1.12 | $3.51 | ||
| Q4 24 | $3.11 | $3.61 | ||
| Q3 24 | $-0.36 | $3.22 | ||
| Q2 24 | $1.96 | $3.44 |
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 | $10.8B | $4.0M |
| 总债务越低越好 | $66.4B | $24.7M |
| 股东权益账面价值 | $33.1B | $40.1M |
| 总资产 | $156.2B | $86.3M |
| 负债/权益比越低杠杆越低 | 2.01× | 0.62× |
8季度趋势，按日历期对齐
现金及短期投资IBMLIN
| Q1 26 | $10.8B | $4.0M | ||
| Q4 25 | $13.6B | $5.1B | ||
| Q3 25 | $11.6B | $4.5B | ||
| Q2 25 | $11.9B | $4.8B | ||
| Q1 25 | $11.0B | $5.3B | ||
| Q4 24 | $13.9B | $4.8B | ||
| Q3 24 | $13.2B | $5.2B | ||
| Q2 24 | $12.2B | $4.6B |
总债务IBMLIN
| Q1 26 | $66.4B | $24.7M | ||
| Q4 25 | $54.8B | $20.7B | ||
| Q3 25 | $55.2B | $18.6B | ||
| Q2 25 | $55.2B | $19.7B | ||
| Q1 25 | $56.4B | $17.6B | ||
| Q4 24 | $49.9B | $15.3B | ||
| Q3 24 | $53.0B | $17.5B | ||
| Q2 24 | $52.9B | $16.9B |
股东权益IBMLIN
| Q1 26 | $33.1B | $40.1M | ||
| Q4 25 | $32.6B | $38.2B | ||
| Q3 25 | $27.9B | $38.6B | ||
| Q2 25 | $27.5B | $38.5B | ||
| Q1 25 | $26.9B | $38.0B | ||
| Q4 24 | $27.3B | $38.1B | ||
| Q3 24 | $24.4B | $39.2B | ||
| Q2 24 | $24.0B | $38.2B |
总资产IBMLIN
| Q1 26 | $156.2B | $86.3M | ||
| Q4 25 | $151.9B | $86.8B | ||
| Q3 25 | $146.3B | $86.0B | ||
| Q2 25 | $148.6B | $86.1B | ||
| Q1 25 | $145.7B | $82.7B | ||
| Q4 24 | $137.2B | $80.1B | ||
| Q3 24 | $134.3B | $82.5B | ||
| Q2 24 | $133.8B | $80.2B |
负债/权益比IBMLIN
| Q1 26 | 2.01× | 0.62× | ||
| Q4 25 | 1.68× | 0.54× | ||
| Q3 25 | 1.98× | 0.48× | ||
| Q2 25 | 2.01× | 0.51× | ||
| Q1 25 | 2.10× | 0.46× | ||
| Q4 24 | 1.83× | 0.40× | ||
| Q3 24 | 2.17× | 0.45× | ||
| Q2 24 | 2.20× | 0.44× |
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 | $5.2B | — |
| 自由现金流经营现金流 - 资本支出 | $2.2B | $898.0K |
| 自由现金流率自由现金流/营收 | 14.0% | 10.2% |
| 资本支出强度资本支出/营收 | 2.4% | — |
| 现金转化率经营现金流/净利润 | 4.25× | — |
| 过去12个月自由现金流最近4个季度 | $10.2B | $4.2B |
8季度趋势，按日历期对齐
经营现金流IBMLIN
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.0B | $3.0B | ||
| Q3 25 | $3.1B | $2.9B | ||
| Q2 25 | $1.7B | $2.2B | ||
| Q1 25 | $4.4B | $2.2B | ||
| Q4 24 | $4.3B | $2.8B | ||
| Q3 24 | $2.9B | $2.7B | ||
| Q2 24 | $2.1B | $1.9B |
自由现金流IBMLIN
| Q1 26 | $2.2B | $898.0K | ||
| Q4 25 | $3.7B | $1.6B | ||
| Q3 25 | $2.8B | $1.7B | ||
| Q2 25 | $1.5B | $954.0M | ||
| Q1 25 | $4.1B | $891.0M | ||
| Q4 24 | $4.0B | $1.6B | ||
| Q3 24 | $2.6B | $1.7B | ||
| Q2 24 | $1.8B | $796.0M |
自由现金流率IBMLIN
| Q1 26 | 14.0% | 10.2% | ||
| Q4 25 | 18.6% | 17.9% | ||
| Q3 25 | 17.3% | 19.4% | ||
| Q2 25 | 8.8% | 11.2% | ||
| Q1 25 | 28.4% | 11.0% | ||
| Q4 24 | 22.9% | 18.8% | ||
| Q3 24 | 17.3% | 19.9% | ||
| Q2 24 | 11.7% | 9.6% |
资本支出强度IBMLIN
| Q1 26 | 2.4% | — | ||
| Q4 25 | 1.9% | 16.6% | ||
| Q3 25 | 1.6% | 14.8% | ||
| Q2 25 | 1.2% | 14.8% | ||
| Q1 25 | 1.7% | 15.7% | ||
| Q4 24 | 1.7% | 15.1% | ||
| Q3 24 | 1.9% | 12.8% | ||
| Q2 24 | 1.4% | 13.7% |
现金转化率IBMLIN
| Q1 26 | 4.25× | — | ||
| Q4 25 | 0.72× | 1.98× | ||
| Q3 25 | 1.77× | 1.53× | ||
| Q2 25 | 0.78× | 1.25× | ||
| Q1 25 | 4.14× | 1.29× | ||
| Q4 24 | 1.49× | 1.63× | ||
| Q3 24 | — | 1.76× | ||
| Q2 24 | 1.13× | 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
IBM
| Software | $7.1B | 45% |
| Consulting | $5.3B | 33% |
| Infrastructure | $3.3B | 21% |
| Financing | $200.0M | 1% |
LIN
暂无分部数据
