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Leidos（LDOS）与PPL Corporation（PPL）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PPL Corporation的1.8倍（$4.2B vs $2.3B），PPL Corporation净利率更高（11.3% vs 7.8%，领先3.5%），PPL Corporation同比增速更快（7.2% vs -3.5%），Leidos自由现金流更多（$452.0M vs $-614.0M），过去两年Leidos的营收复合增速更高（3.1% vs 1.0%）
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。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
LDOS vs PPL — 直观对比
营收规模更大
LDOS
是对方的1.8倍
$2.3B
营收增速更快
PPL
高出10.7%
-3.5%
净利率更高
PPL
高出3.5%
7.8%
自由现金流更多
LDOS
多$1.1B
$-614.0M
两年增速更快
LDOS
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $2.3B |
| 净利润 | $327.0M | $266.0M |
| 毛利率 | 17.4% | — |
| 营业利润率 | 11.3% | 20.3% |
| 净利率 | 7.8% | 11.3% |
| 营收同比 | -3.5% | 7.2% |
| 净利润同比 | 15.1% | 50.3% |
| 每股收益（稀释后） | $2.54 | $0.35 |
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LDOSPPL
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $2.3B | ||
| Q3 25 | $4.2B | $2.2B | ||
| Q2 25 | $4.2B | $2.0B | ||
| Q1 25 | $4.3B | $2.5B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | $4.2B | $2.1B | ||
| Q2 24 | $4.1B | $1.9B |
净利润LDOSPPL
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $266.0M | ||
| Q3 25 | $391.0M | $318.0M | ||
| Q2 25 | $363.0M | $183.0M | ||
| Q1 25 | $284.0M | $414.0M | ||
| Q4 24 | — | $177.0M | ||
| Q3 24 | $364.0M | $214.0M | ||
| Q2 24 | $322.0M | $190.0M |
毛利率LDOSPPL
| Q1 26 | 17.4% | — | ||
| Q4 25 | 18.0% | — | ||
| Q3 25 | 18.0% | — | ||
| Q2 25 | 17.5% | — | ||
| Q1 25 | 15.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.8% | — | ||
| Q2 24 | 16.6% | — |
营业利润率LDOSPPL
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 20.3% | ||
| Q3 25 | 13.5% | 25.4% | ||
| Q2 25 | 12.5% | 19.9% | ||
| Q1 25 | 9.7% | 26.6% | ||
| Q4 24 | — | 17.2% | ||
| Q3 24 | 12.4% | 20.6% | ||
| Q2 24 | 11.6% | 20.8% |
净利率LDOSPPL
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 11.3% | ||
| Q3 25 | 9.2% | 14.2% | ||
| Q2 25 | 8.6% | 9.0% | ||
| Q1 25 | 6.5% | 16.3% | ||
| Q4 24 | — | 8.1% | ||
| Q3 24 | 8.7% | 10.3% | ||
| Q2 24 | 7.8% | 10.1% |
每股收益（稀释后）LDOSPPL
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $0.35 | ||
| Q3 25 | $3.01 | $0.43 | ||
| Q2 25 | $2.77 | $0.25 | ||
| Q1 25 | $2.10 | $0.56 | ||
| Q4 24 | — | $0.23 | ||
| Q3 24 | $2.68 | $0.29 | ||
| Q2 24 | $2.37 | $0.26 |
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 | $1.1B |
| 总债务越低越好 | $4.6B | $18.9B |
| 股东权益账面价值 | $4.9B | $14.9B |
| 总资产 | $13.5B | $45.2B |
| 负债/权益比越低杠杆越低 | 0.94× | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资LDOSPPL
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | $1.1B | ||
| Q3 25 | $930.0M | $1.1B | ||
| Q2 25 | $842.0M | $294.0M | ||
| Q1 25 | $943.0M | $312.0M | ||
| Q4 24 | — | $306.0M | ||
| Q3 24 | $1.2B | $542.0M | ||
| Q2 24 | $823.0M | $282.0M |
总债务LDOSPPL
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.6B | $18.9B | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | — | $16.5B | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
股东权益LDOSPPL
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $14.9B | ||
| Q3 25 | $4.7B | $14.4B | ||
| Q2 25 | $4.3B | $14.3B | ||
| Q1 25 | $4.4B | $14.3B | ||
| Q4 24 | — | $14.1B | ||
| Q3 24 | $4.6B | $14.1B | ||
| Q2 24 | $4.5B | $14.1B |
总资产LDOSPPL
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $45.2B | ||
| Q3 25 | $13.5B | $43.9B | ||
| Q2 25 | $13.2B | $42.4B | ||
| Q1 25 | $13.1B | $41.8B | ||
| Q4 24 | — | $41.1B | ||
| Q3 24 | $13.3B | $40.5B | ||
| Q2 24 | $12.9B | $39.8B |
负债/权益比LDOSPPL
| Q1 26 | 0.94× | — | ||
| Q4 25 | 0.94× | 1.27× | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 1.18× | — | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | — | 1.17× | ||
| 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 | $548.0M |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $-614.0M |
| 自由现金流率自由现金流/营收 | 10.8% | -26.1% |
| 资本支出强度资本支出/营收 | 1.0% | 49.5% |
| 现金转化率经营现金流/净利润 | 1.51× | 2.06× |
| 过去12个月自由现金流最近4个季度 | — | $-1.4B |
8季度趋势，按日历期对齐
经营现金流LDOSPPL
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $548.0M | ||
| Q3 25 | $711.0M | $966.0M | ||
| Q2 25 | $58.0M | $602.0M | ||
| Q1 25 | $299.0M | $513.0M | ||
| Q4 24 | — | $511.0M | ||
| Q3 24 | $656.0M | $781.0M | ||
| Q2 24 | $374.0M | $766.0M |
自由现金流LDOSPPL
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $-614.0M | ||
| Q3 25 | $680.0M | $-179.0M | ||
| Q2 25 | $36.0M | $-328.0M | ||
| Q1 25 | $213.0M | $-280.0M | ||
| Q4 24 | — | $-349.0M | ||
| Q3 24 | $633.0M | $102.0M | ||
| Q2 24 | $351.0M | $96.0M |
自由现金流率LDOSPPL
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | -26.1% | ||
| Q3 25 | 16.1% | -8.0% | ||
| Q2 25 | 0.9% | -16.1% | ||
| Q1 25 | 4.9% | -11.0% | ||
| Q4 24 | — | -15.9% | ||
| Q3 24 | 15.2% | 4.9% | ||
| Q2 24 | 8.5% | 5.1% |
资本支出强度LDOSPPL
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 49.5% | ||
| Q3 25 | 0.7% | 51.2% | ||
| Q2 25 | 0.5% | 45.6% | ||
| Q1 25 | 2.0% | 31.2% | ||
| Q4 24 | — | 39.3% | ||
| Q3 24 | 0.6% | 32.7% | ||
| Q2 24 | 0.6% | 35.8% |
现金转化率LDOSPPL
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 2.06× | ||
| Q3 25 | 1.82× | 3.04× | ||
| Q2 25 | 0.16× | 3.29× | ||
| Q1 25 | 1.05× | 1.24× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | 1.80× | 3.65× | ||
| Q2 24 | 1.16× | 4.03× |
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% |
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
