vs
高德纳（IT）与赛莱默（XYL）财务数据对比。点击上方公司名可切换其他公司
赛莱默的季度营收约是高德纳的1.2倍（$2.1B vs $1.8B），高德纳净利率更高（13.8% vs 8.9%，领先4.9%），赛莱默同比增速更快（2.7% vs 2.2%），过去两年高德纳的营收复合增速更高（9.1% vs -1.0%）
高德纳是美国专注于商业与科技领域的研究咨询机构，服务客户覆盖大型企业、政府机构、科技公司、投资机构等群体，通过输出研究报告、举办行业峰会、提供定制咨询等形式，为客户决策提供权威专业的洞见支撑。
该文本为植物学对木质部的定义说明，并非赛莱默公司（Xylem Inc.）的企业业务介绍。Xylem Inc.是一家专注于水技术与解决方案的全球企业，提供水务基础设施、水环境治理等相关设备与服务。
IT vs XYL — 直观对比
营收规模更大
XYL
是对方的1.2倍
$1.8B
营收增速更快
XYL
高出0.5%
2.2%
净利率更高
IT
高出4.9%
8.9%
两年增速更快
IT
近两年复合增速
-1.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.1B |
| 净利润 | $242.2M | $189.0M |
| 毛利率 | 67.8% | 37.8% |
| 营业利润率 | 19.1% | 11.5% |
| 净利率 | 13.8% | 8.9% |
| 营收同比 | 2.2% | 2.7% |
| 净利润同比 | -39.2% | 13.2% |
| 每股收益（稀释后） | $3.36 | $0.79 |
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ITXYL
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.8B | $2.4B | ||
| Q3 25 | $1.5B | $2.3B | ||
| Q2 25 | $1.7B | $2.3B | ||
| Q1 25 | $1.5B | $2.1B | ||
| Q4 24 | $1.7B | $2.3B | ||
| Q3 24 | $1.5B | $2.1B | ||
| Q2 24 | $1.6B | $2.2B |
净利润ITXYL
| Q1 26 | — | $189.0M | ||
| Q4 25 | $242.2M | $335.0M | ||
| Q3 25 | $35.4M | $227.0M | ||
| Q2 25 | $240.8M | $226.0M | ||
| Q1 25 | $210.9M | $169.0M | ||
| Q4 24 | $398.6M | $326.0M | ||
| Q3 24 | $415.0M | $217.0M | ||
| Q2 24 | $229.5M | $194.0M |
毛利率ITXYL
| Q1 26 | — | 37.8% | ||
| Q4 25 | 67.8% | 38.9% | ||
| Q3 25 | 69.3% | 38.9% | ||
| Q2 25 | 68.6% | 38.8% | ||
| Q1 25 | 69.4% | 37.1% | ||
| Q4 24 | 66.8% | 38.0% | ||
| Q3 24 | 68.4% | 37.3% | ||
| Q2 24 | 68.6% | 37.8% |
营业利润率ITXYL
| Q1 26 | — | 11.5% | ||
| Q4 25 | 19.1% | 14.7% | ||
| Q3 25 | 5.7% | 14.7% | ||
| Q2 25 | 19.4% | 13.3% | ||
| Q1 25 | 18.1% | 11.2% | ||
| Q4 24 | 18.5% | 11.8% | ||
| Q3 24 | 16.6% | 13.3% | ||
| Q2 24 | 20.0% | 11.7% |
净利率ITXYL
| Q1 26 | — | 8.9% | ||
| Q4 25 | 13.8% | 14.0% | ||
| Q3 25 | 2.3% | 10.0% | ||
| Q2 25 | 14.3% | 9.8% | ||
| Q1 25 | 13.7% | 8.2% | ||
| Q4 24 | 23.2% | 14.5% | ||
| Q3 24 | 28.0% | 10.3% | ||
| Q2 24 | 14.4% | 8.9% |
每股收益（稀释后）ITXYL
| Q1 26 | — | $0.79 | ||
| Q4 25 | $3.36 | $1.37 | ||
| Q3 25 | $0.47 | $0.93 | ||
| Q2 25 | $3.11 | $0.93 | ||
| Q1 25 | $2.71 | $0.69 | ||
| Q4 24 | $5.08 | $1.33 | ||
| Q3 24 | $5.32 | $0.89 | ||
| Q2 24 | $2.93 | $0.80 |
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 | $808.0M |
| 总债务越低越好 | — | $1.9B |
| 股东权益账面价值 | $319.9M | $11.0B |
| 总资产 | $8.1B | $17.0B |
| 负债/权益比越低杠杆越低 | — | 0.18× |
8季度趋势，按日历期对齐
现金及短期投资ITXYL
| Q1 26 | — | $808.0M | ||
| Q4 25 | $1.7B | $1.5B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.1B | $1.1B | ||
| Q4 24 | $1.9B | $1.1B | ||
| Q3 24 | $1.8B | $989.0M | ||
| Q2 24 | $1.2B | $815.0M |
总债务ITXYL
| Q1 26 | — | $1.9B | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ITXYL
| Q1 26 | — | $11.0B | ||
| Q4 25 | $319.9M | $11.5B | ||
| Q3 25 | $556.6M | $11.2B | ||
| Q2 25 | $1.5B | $11.1B | ||
| Q1 25 | $1.5B | $10.8B | ||
| Q4 24 | $1.4B | $10.6B | ||
| Q3 24 | $1.1B | $10.6B | ||
| Q2 24 | $646.7M | $10.3B |
总资产ITXYL
| Q1 26 | — | $17.0B | ||
| Q4 25 | $8.1B | $17.6B | ||
| Q3 25 | $7.2B | $17.3B | ||
| Q2 25 | $8.3B | $17.2B | ||
| Q1 25 | $8.5B | $16.6B | ||
| Q4 24 | $8.5B | $16.5B | ||
| Q3 24 | $7.8B | $16.0B | ||
| Q2 24 | $7.4B | $15.8B |
负债/权益比ITXYL
| Q1 26 | — | 0.18× | ||
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.18× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 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 | $294.5M | — |
| 自由现金流经营现金流 - 资本支出 | $270.7M | — |
| 自由现金流率自由现金流/营收 | 15.4% | — |
| 资本支出强度资本支出/营收 | 1.4% | 4.2% |
| 现金转化率经营现金流/净利润 | 1.22× | — |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流ITXYL
| Q1 26 | — | — | ||
| Q4 25 | $294.5M | $543.0M | ||
| Q3 25 | $298.7M | $360.0M | ||
| Q2 25 | $383.6M | $305.0M | ||
| Q1 25 | $313.5M | $33.0M | ||
| Q4 24 | $335.4M | $575.0M | ||
| Q3 24 | $590.8M | $311.0M | ||
| Q2 24 | $370.0M | $288.0M |
自由现金流ITXYL
| Q1 26 | — | — | ||
| Q4 25 | $270.7M | $460.0M | ||
| Q3 25 | $269.3M | $281.0M | ||
| Q2 25 | $347.3M | $207.0M | ||
| Q1 25 | $287.9M | $-38.0M | ||
| Q4 24 | $311.4M | $475.0M | ||
| Q3 24 | $565.0M | $237.0M | ||
| Q2 24 | $340.6M | $215.0M |
自由现金流率ITXYL
| Q1 26 | — | — | ||
| Q4 25 | 15.4% | 19.2% | ||
| Q3 25 | 17.7% | 12.4% | ||
| Q2 25 | 20.6% | 9.0% | ||
| Q1 25 | 18.8% | -1.8% | ||
| Q4 24 | 18.2% | 21.1% | ||
| Q3 24 | 38.1% | 11.3% | ||
| Q2 24 | 21.4% | 9.9% |
资本支出强度ITXYL
| Q1 26 | — | 4.2% | ||
| Q4 25 | 1.4% | 3.5% | ||
| Q3 25 | 1.9% | 3.5% | ||
| Q2 25 | 2.1% | 4.3% | ||
| Q1 25 | 1.7% | 3.4% | ||
| Q4 24 | 1.4% | 4.4% | ||
| Q3 24 | 1.7% | 3.5% | ||
| Q2 24 | 1.8% | 3.4% |
现金转化率ITXYL
| Q1 26 | — | — | ||
| Q4 25 | 1.22× | 1.62× | ||
| Q3 25 | 8.45× | 1.59× | ||
| Q2 25 | 1.59× | 1.35× | ||
| Q1 25 | 1.49× | 0.20× | ||
| Q4 24 | 0.84× | 1.76× | ||
| Q3 24 | 1.42× | 1.43× | ||
| Q2 24 | 1.61× | 1.48× |
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
IT
| Transferred Over Time | $1.3B | 73% |
| Conferences | $286.2M | 16% |
| Consulting | $133.6M | 8% |
| Other | $52.3M | 3% |
XYL
| Revenue from products | $1.8B | 83% |
| Revenue from services | $368.0M | 17% |
