vs
直觉外科（ISRG）与Leidos（LDOS）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是直觉外科的1.5倍（$4.2B vs $2.8B），直觉外科净利率更高（29.8% vs 7.8%，领先22.0%），直觉外科同比增速更快（23.0% vs -3.5%），过去两年直觉外科的营收复合增速更高（17.4% vs 3.1%）
直觉外科（Intuitive Surgical）是美国医疗科技企业，主打研发、生产及销售微创外科手术机器人产品，核心产品为达芬奇手术系统，可有效提升患者临床治疗效果。该公司为纳斯达克100、标普100及标普500指数成分股，截至2021年末全球达芬奇系统装机量达6730台，其中美国市场占4139台。
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。
ISRG vs LDOS — 直观对比
营收规模更大
LDOS
是对方的1.5倍
$2.8B
营收增速更快
ISRG
高出26.5%
-3.5%
净利率更高
ISRG
高出22.0%
7.8%
两年增速更快
ISRG
近两年复合增速
3.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.2B |
| 净利润 | $826.0M | $327.0M |
| 毛利率 | 66.1% | 17.4% |
| 营业利润率 | — | 11.3% |
| 净利率 | 29.8% | 7.8% |
| 营收同比 | 23.0% | -3.5% |
| 净利润同比 | 17.4% | 15.1% |
| 每股收益（稀释后） | $2.28 | $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ISRGLDOS
| Q1 26 | $2.8B | $4.2B | ||
| Q4 25 | $2.9B | $4.4B | ||
| Q3 25 | $2.5B | $4.2B | ||
| Q2 25 | $2.4B | $4.2B | ||
| Q1 25 | $2.3B | $4.3B | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.0B | $4.2B | ||
| Q2 24 | $2.0B | $4.1B |
净利润ISRGLDOS
| Q1 26 | $826.0M | $327.0M | ||
| Q4 25 | $794.8M | $367.0M | ||
| Q3 25 | $704.4M | $391.0M | ||
| Q2 25 | $658.4M | $363.0M | ||
| Q1 25 | $698.4M | $284.0M | ||
| Q4 24 | $685.7M | — | ||
| Q3 24 | $565.1M | $364.0M | ||
| Q2 24 | $526.9M | $322.0M |
毛利率ISRGLDOS
| Q1 26 | 66.1% | 17.4% | ||
| Q4 25 | 66.4% | 18.0% | ||
| Q3 25 | 66.4% | 18.0% | ||
| Q2 25 | 66.3% | 17.5% | ||
| Q1 25 | 64.7% | 15.6% | ||
| Q4 24 | 68.0% | — | ||
| Q3 24 | 67.4% | 17.8% | ||
| Q2 24 | 68.3% | 16.6% |
营业利润率ISRGLDOS
| Q1 26 | — | 11.3% | ||
| Q4 25 | 30.2% | 12.0% | ||
| Q3 25 | 30.3% | 13.5% | ||
| Q2 25 | 30.5% | 12.5% | ||
| Q1 25 | 25.7% | 9.7% | ||
| Q4 24 | 30.4% | — | ||
| Q3 24 | 28.3% | 12.4% | ||
| Q2 24 | 28.2% | 11.6% |
净利率ISRGLDOS
| Q1 26 | 29.8% | 7.8% | ||
| Q4 25 | 27.7% | 8.2% | ||
| Q3 25 | 28.1% | 9.2% | ||
| Q2 25 | 27.0% | 8.6% | ||
| Q1 25 | 31.0% | 6.5% | ||
| Q4 24 | 28.4% | — | ||
| Q3 24 | 27.7% | 8.7% | ||
| Q2 24 | 26.2% | 7.8% |
每股收益（稀释后）ISRGLDOS
| Q1 26 | $2.28 | $2.54 | ||
| Q4 25 | $2.19 | $2.82 | ||
| Q3 25 | $1.95 | $3.01 | ||
| Q2 25 | $1.81 | $2.77 | ||
| Q1 25 | $1.92 | $2.10 | ||
| Q4 24 | $1.89 | — | ||
| Q3 24 | $1.56 | $2.68 | ||
| Q2 24 | $1.46 | $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 | — | $1.1B |
| 总债务越低越好 | — | $4.6B |
| 股东权益账面价值 | $17.6B | $4.9B |
| 总资产 | $20.1B | $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ISRGLDOS
| Q1 26 | — | $1.1B | ||
| Q4 25 | $5.9B | $974.0M | ||
| Q3 25 | $4.9B | $930.0M | ||
| Q2 25 | $5.3B | $842.0M | ||
| Q1 25 | $4.5B | $943.0M | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $4.2B | $1.2B | ||
| Q2 24 | $4.8B | $823.0M |
总债务ISRGLDOS
| 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ISRGLDOS
| Q1 26 | $17.6B | $4.9B | ||
| Q4 25 | $17.8B | $4.9B | ||
| Q3 25 | $16.9B | $4.7B | ||
| Q2 25 | $17.8B | $4.3B | ||
| Q1 25 | $17.1B | $4.4B | ||
| Q4 24 | $16.4B | — | ||
| Q3 24 | $15.6B | $4.6B | ||
| Q2 24 | $14.7B | $4.5B |
总资产ISRGLDOS
| Q1 26 | $20.1B | $13.5B | ||
| Q4 25 | $20.5B | $13.5B | ||
| Q3 25 | $19.4B | $13.5B | ||
| Q2 25 | $20.2B | $13.2B | ||
| Q1 25 | $19.2B | $13.1B | ||
| Q4 24 | $18.7B | — | ||
| Q3 24 | $17.7B | $13.3B | ||
| Q2 24 | $16.6B | $12.9B |
负债/权益比ISRGLDOS
| 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 | — | $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 | — | 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ISRGLDOS
| Q1 26 | — | $495.0M | ||
| Q4 25 | $892.5M | — | ||
| Q3 25 | $841.0M | $711.0M | ||
| Q2 25 | $715.4M | $58.0M | ||
| Q1 25 | $581.6M | $299.0M | ||
| Q4 24 | $822.6M | — | ||
| Q3 24 | $706.5M | $656.0M | ||
| Q2 24 | $620.5M | $374.0M |
自由现金流ISRGLDOS
| Q1 26 | — | $452.0M | ||
| Q4 25 | $730.0M | — | ||
| Q3 25 | $735.6M | $680.0M | ||
| Q2 25 | $560.1M | $36.0M | ||
| Q1 25 | $465.0M | $213.0M | ||
| Q4 24 | $510.6M | — | ||
| Q3 24 | $458.6M | $633.0M | ||
| Q2 24 | $311.1M | $351.0M |
自由现金流率ISRGLDOS
| Q1 26 | — | 10.8% | ||
| Q4 25 | 25.5% | — | ||
| Q3 25 | 29.4% | 16.1% | ||
| Q2 25 | 23.0% | 0.9% | ||
| Q1 25 | 20.6% | 4.9% | ||
| Q4 24 | 21.2% | — | ||
| Q3 24 | 22.5% | 15.2% | ||
| Q2 24 | 15.5% | 8.5% |
资本支出强度ISRGLDOS
| Q1 26 | — | 1.0% | ||
| Q4 25 | 5.7% | — | ||
| Q3 25 | 4.2% | 0.7% | ||
| Q2 25 | 6.4% | 0.5% | ||
| Q1 25 | 5.2% | 2.0% | ||
| Q4 24 | 12.9% | — | ||
| Q3 24 | 12.2% | 0.6% | ||
| Q2 24 | 15.4% | 0.6% |
现金转化率ISRGLDOS
| Q1 26 | — | 1.51× | ||
| Q4 25 | 1.12× | — | ||
| Q3 25 | 1.19× | 1.82× | ||
| Q2 25 | 1.09× | 0.16× | ||
| Q1 25 | 0.83× | 1.05× | ||
| Q4 24 | 1.20× | — | ||
| Q3 24 | 1.25× | 1.80× | ||
| Q2 24 | 1.18× | 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
ISRG
| Instruments and accessories | $1.7B | 61% |
| Systems | $650.7M | 23% |
| Services | $433.7M | 16% |
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% |
