vs
Leidos（LDOS）与QVC Group, Inc.（QVCGA）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QVC Group, Inc.的1.6倍（$4.2B vs $2.7B），Leidos净利率更高（7.8% vs -1.4%，领先9.2%），Leidos同比增速更快（-3.5% vs -9.1%），Leidos自由现金流更多（$452.0M vs $191.0M），过去两年QVC Group, Inc.的营收复合增速更高（6.9% 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。
QVC集团是一家美国媒体 conglomerate 企业，由董事长约翰·C·马龙控制，马龙持有该公司多数具有投票权的股份，主营媒体相关业务，是美国本土颇具影响力的传媒集团。
LDOS vs QVCGA — 直观对比
营收规模更大
LDOS
是对方的1.6倍
$2.7B
营收增速更快
LDOS
高出5.6%
-9.1%
净利率更高
LDOS
高出9.2%
-1.4%
自由现金流更多
LDOS
多$261.0M
$191.0M
两年增速更快
QVCGA
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $2.7B |
| 净利润 | $327.0M | $-37.0M |
| 毛利率 | 17.4% | 32.9% |
| 营业利润率 | 11.3% | 3.7% |
| 净利率 | 7.8% | -1.4% |
| 营收同比 | -3.5% | -9.1% |
| 净利润同比 | 15.1% | 97.1% |
| 每股收益（稀释后） | $2.54 | $-17.37 |
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LDOSQVCGA
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $2.7B | ||
| Q3 25 | $4.2B | $2.2B | ||
| Q2 25 | $4.2B | $2.2B | ||
| Q1 25 | $4.3B | $2.1B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $4.2B | $2.3B | ||
| Q2 24 | $4.1B | $2.4B |
净利润LDOSQVCGA
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $-37.0M | ||
| Q3 25 | $391.0M | $-80.0M | ||
| Q2 25 | $363.0M | $-2.2B | ||
| Q1 25 | $284.0M | $-100.0M | ||
| Q4 24 | — | $-1.3B | ||
| Q3 24 | $364.0M | $-23.0M | ||
| Q2 24 | $322.0M | $20.0M |
毛利率LDOSQVCGA
| Q1 26 | 17.4% | — | ||
| Q4 25 | 18.0% | 32.9% | ||
| Q3 25 | 18.0% | 34.0% | ||
| Q2 25 | 17.5% | 36.4% | ||
| Q1 25 | 15.6% | 34.2% | ||
| Q4 24 | — | 33.3% | ||
| Q3 24 | 17.8% | 35.3% | ||
| Q2 24 | 16.6% | 36.4% |
营业利润率LDOSQVCGA
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 3.7% | ||
| Q3 25 | 13.5% | 2.7% | ||
| Q2 25 | 12.5% | -101.6% | ||
| Q1 25 | 9.7% | 0.7% | ||
| Q4 24 | — | -43.2% | ||
| Q3 24 | 12.4% | 6.5% | ||
| Q2 24 | 11.6% | 6.9% |
净利率LDOSQVCGA
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | -1.4% | ||
| Q3 25 | 9.2% | -3.6% | ||
| Q2 25 | 8.6% | -99.4% | ||
| Q1 25 | 6.5% | -4.8% | ||
| Q4 24 | — | -43.7% | ||
| Q3 24 | 8.7% | -1.0% | ||
| Q2 24 | 7.8% | 0.8% |
每股收益（稀释后）LDOSQVCGA
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $-17.37 | ||
| Q3 25 | $3.01 | $-9.89 | ||
| Q2 25 | $2.77 | $-275.46 | ||
| Q1 25 | $2.10 | $-0.25 | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.68 | $-0.06 | ||
| Q2 24 | $2.37 | $2.57 |
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 | $2.0B |
| 总债务越低越好 | $4.6B | $790.0M |
| 股东权益账面价值 | $4.9B | $-3.1B |
| 总资产 | $13.5B | $7.6B |
| 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LDOSQVCGA
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | $2.0B | ||
| Q3 25 | $930.0M | $1.8B | ||
| Q2 25 | $842.0M | $897.0M | ||
| Q1 25 | $943.0M | $833.0M | ||
| Q4 24 | — | $905.0M | ||
| Q3 24 | $1.2B | $873.0M | ||
| Q2 24 | $823.0M | $1.2B |
总债务LDOSQVCGA
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.6B | $790.0M | ||
| Q3 25 | $5.0B | $5.9B | ||
| Q2 25 | $5.0B | $4.9B | ||
| Q1 25 | $4.1B | $5.0B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | $4.1B | $5.1B | ||
| Q2 24 | $4.1B | $5.3B |
股东权益LDOSQVCGA
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $-3.1B | ||
| Q3 25 | $4.7B | $-3.1B | ||
| Q2 25 | $4.3B | $-3.0B | ||
| Q1 25 | $4.4B | $-981.0M | ||
| Q4 24 | — | $-971.0M | ||
| Q3 24 | $4.6B | $397.0M | ||
| Q2 24 | $4.5B | $328.0M |
总资产LDOSQVCGA
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $7.6B | ||
| Q3 25 | $13.5B | $7.6B | ||
| Q2 25 | $13.2B | $6.7B | ||
| Q1 25 | $13.1B | $9.0B | ||
| Q4 24 | — | $9.2B | ||
| Q3 24 | $13.3B | $10.8B | ||
| Q2 24 | $12.9B | $10.9B |
负债/权益比LDOSQVCGA
| 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× | 12.74× | ||
| Q2 24 | 0.92× | 16.28× |
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 | $244.0M |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $191.0M |
| 自由现金流率自由现金流/营收 | 10.8% | 7.1% |
| 资本支出强度资本支出/营收 | 1.0% | 2.0% |
| 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 | — | $118.0M |
8季度趋势，按日历期对齐
经营现金流LDOSQVCGA
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $244.0M | ||
| Q3 25 | $711.0M | $4.0M | ||
| Q2 25 | $58.0M | $86.0M | ||
| Q1 25 | $299.0M | $-60.0M | ||
| Q4 24 | — | $212.0M | ||
| Q3 24 | $656.0M | $20.0M | ||
| Q2 24 | $374.0M | $267.0M |
自由现金流LDOSQVCGA
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $191.0M | ||
| Q3 25 | $680.0M | $-27.0M | ||
| Q2 25 | $36.0M | $48.0M | ||
| Q1 25 | $213.0M | $-94.0M | ||
| Q4 24 | — | $150.0M | ||
| Q3 24 | $633.0M | $-23.0M | ||
| Q2 24 | $351.0M | $213.0M |
自由现金流率LDOSQVCGA
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | 7.1% | ||
| Q3 25 | 16.1% | -1.2% | ||
| Q2 25 | 0.9% | 2.1% | ||
| Q1 25 | 4.9% | -4.5% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | 15.2% | -1.0% | ||
| Q2 24 | 8.5% | 8.8% |
资本支出强度LDOSQVCGA
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | 0.7% | 1.4% | ||
| Q2 25 | 0.5% | 1.7% | ||
| Q1 25 | 2.0% | 1.6% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | 0.6% | 1.8% | ||
| Q2 24 | 0.6% | 2.2% |
现金转化率LDOSQVCGA
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.82× | — | ||
| Q2 25 | 0.16× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.80× | — | ||
| Q2 24 | 1.16× | 13.35× |
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% |
QVCGA
| Other | $915.0M | 34% |
| Home | $754.0M | 28% |
| Beauty | $260.0M | 10% |
| Apparel | $254.0M | 9% |
| Electronics | $187.0M | 7% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 3% |
| Manufactured Product Other | $38.0M | 1% |
