vs
Leidos（LDOS）与麦当劳（MCD）财务数据对比。点击上方公司名可切换其他公司
麦当劳的季度营收约是Leidos的1.7倍（$7.0B vs $4.2B），麦当劳净利率更高（30.9% vs 7.8%，领先23.1%），麦当劳同比增速更快（9.7% vs -3.5%），麦当劳自由现金流更多（$1.6B vs $452.0M），过去两年麦当劳的营收复合增速更高（6.6% vs 3.1%）
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。
麦当劳是源自美国的知名跨国连锁快餐品牌，主营汉堡、薯条、炸鸡等快餐食品，业务覆盖全球多个国家和地区。截至2024年，其全球门店数量在所有餐饮连锁品牌中位列第二，仅次于中国本土品牌蜜雪冰城。
LDOS vs MCD — 直观对比
营收规模更大
MCD
是对方的1.7倍
$4.2B
营收增速更快
MCD
高出13.2%
-3.5%
净利率更高
MCD
高出23.1%
7.8%
自由现金流更多
MCD
多$1.2B
$452.0M
两年增速更快
MCD
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $7.0B |
| 净利润 | $327.0M | $2.2B |
| 毛利率 | 17.4% | — |
| 营业利润率 | 11.3% | 45.0% |
| 净利率 | 7.8% | 30.9% |
| 营收同比 | -3.5% | 9.7% |
| 净利润同比 | 15.1% | 7.3% |
| 每股收益（稀释后） | $2.54 | $3.03 |
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LDOSMCD
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $7.0B | ||
| Q3 25 | $4.2B | $7.1B | ||
| Q2 25 | $4.2B | $6.8B | ||
| Q1 25 | $4.3B | $6.0B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | $4.2B | $6.9B | ||
| Q2 24 | $4.1B | $6.5B |
净利润LDOSMCD
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $2.2B | ||
| Q3 25 | $391.0M | $2.3B | ||
| Q2 25 | $363.0M | $2.3B | ||
| Q1 25 | $284.0M | $1.9B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | $364.0M | $2.3B | ||
| Q2 24 | $322.0M | $2.0B |
毛利率LDOSMCD
| Q1 26 | 17.4% | — | ||
| Q4 25 | 18.0% | — | ||
| Q3 25 | 18.0% | 90.6% | ||
| Q2 25 | 17.5% | 90.4% | ||
| Q1 25 | 15.6% | 89.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.8% | 90.6% | ||
| Q2 24 | 16.6% | 90.3% |
营业利润率LDOSMCD
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 45.0% | ||
| Q3 25 | 13.5% | 47.4% | ||
| Q2 25 | 12.5% | 47.2% | ||
| Q1 25 | 9.7% | 44.5% | ||
| Q4 24 | — | 44.9% | ||
| Q3 24 | 12.4% | 46.4% | ||
| Q2 24 | 11.6% | 45.0% |
净利率LDOSMCD
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 30.9% | ||
| Q3 25 | 9.2% | 32.2% | ||
| Q2 25 | 8.6% | 32.9% | ||
| Q1 25 | 6.5% | 31.4% | ||
| Q4 24 | — | 31.6% | ||
| Q3 24 | 8.7% | 32.8% | ||
| Q2 24 | 7.8% | 31.2% |
每股收益（稀释后）LDOSMCD
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $3.03 | ||
| Q3 25 | $3.01 | $3.18 | ||
| Q2 25 | $2.77 | $3.14 | ||
| Q1 25 | $2.10 | $2.60 | ||
| Q4 24 | — | $2.80 | ||
| Q3 24 | $2.68 | $3.13 | ||
| Q2 24 | $2.37 | $2.80 |
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 | $1.1B | $774.0M |
| 总债务越低越好 | $4.6B | $40.0B |
| 股东权益账面价值 | $4.9B | $-1.8B |
| 总资产 | $13.5B | $59.5B |
| 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LDOSMCD
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | $774.0M | ||
| Q3 25 | $930.0M | $2.4B | ||
| Q2 25 | $842.0M | $1.9B | ||
| Q1 25 | $943.0M | $1.2B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $823.0M | $792.0M |
总债务LDOSMCD
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.6B | $40.0B | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | — | $38.4B | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
股东权益LDOSMCD
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $-1.8B | ||
| Q3 25 | $4.7B | $-2.2B | ||
| Q2 25 | $4.3B | $-2.8B | ||
| Q1 25 | $4.4B | $-3.5B | ||
| Q4 24 | — | $-3.8B | ||
| Q3 24 | $4.6B | $-5.2B | ||
| Q2 24 | $4.5B | $-4.8B |
总资产LDOSMCD
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $59.5B | ||
| Q3 25 | $13.5B | $60.6B | ||
| Q2 25 | $13.2B | $59.6B | ||
| Q1 25 | $13.1B | $56.3B | ||
| Q4 24 | — | $55.2B | ||
| Q3 24 | $13.3B | $56.2B | ||
| Q2 24 | $12.9B | $53.8B |
负债/权益比LDOSMCD
| 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 | $2.7B |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $1.6B |
| 自由现金流率自由现金流/营收 | 10.8% | 23.4% |
| 资本支出强度资本支出/营收 | 1.0% | 15.1% |
| 现金转化率经营现金流/净利润 | 1.51× | 1.25× |
| 过去12个月自由现金流最近4个季度 | — | $7.2B |
8季度趋势，按日历期对齐
经营现金流LDOSMCD
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $711.0M | $3.4B | ||
| Q2 25 | $58.0M | $2.0B | ||
| Q1 25 | $299.0M | $2.4B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | $656.0M | $2.7B | ||
| Q2 24 | $374.0M | $1.7B |
自由现金流LDOSMCD
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $680.0M | $2.4B | ||
| Q2 25 | $36.0M | $1.3B | ||
| Q1 25 | $213.0M | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $633.0M | $1.9B | ||
| Q2 24 | $351.0M | $1.1B |
自由现金流率LDOSMCD
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | 23.4% | ||
| Q3 25 | 16.1% | 34.1% | ||
| Q2 25 | 0.9% | 18.3% | ||
| Q1 25 | 4.9% | 31.5% | ||
| Q4 24 | — | 28.6% | ||
| Q3 24 | 15.2% | 28.3% | ||
| Q2 24 | 8.5% | 16.3% |
资本支出强度LDOSMCD
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 15.1% | ||
| Q3 25 | 0.7% | 14.3% | ||
| Q2 25 | 0.5% | 10.9% | ||
| Q1 25 | 2.0% | 9.3% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | 0.6% | 11.6% | ||
| Q2 24 | 0.6% | 9.7% |
现金转化率LDOSMCD
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 1.25× | ||
| Q3 25 | 1.82× | 1.50× | ||
| Q2 25 | 0.16× | 0.89× | ||
| Q1 25 | 1.05× | 1.30× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | 1.80× | 1.21× | ||
| Q2 24 | 1.16× | 0.84× |
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
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% |
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
