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Leidos（LDOS）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是Leidos的1.1倍（$4.5B vs $4.2B），皇家加勒比集团净利率更高（21.3% vs 7.8%，领先13.5%），皇家加勒比集团同比增速更快（11.3% vs -3.5%），过去两年皇家加勒比集团的营收复合增速更高（4.1% 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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
LDOS vs RCL — 直观对比
营收规模更大
RCL
是对方的1.1倍
$4.2B
营收增速更快
RCL
高出14.8%
-3.5%
净利率更高
RCL
高出13.5%
7.8%
两年增速更快
RCL
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $4.5B |
| 净利润 | $327.0M | $950.0M |
| 毛利率 | 17.4% | — |
| 营业利润率 | 11.3% | 26.1% |
| 净利率 | 7.8% | 21.3% |
| 营收同比 | -3.5% | 11.3% |
| 净利润同比 | 15.1% | 29.1% |
| 每股收益（稀释后） | $2.54 | $3.48 |
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LDOSRCL
| Q1 26 | $4.2B | $4.5B | ||
| Q4 25 | $4.4B | $4.3B | ||
| Q3 25 | $4.2B | $5.1B | ||
| Q2 25 | $4.2B | $4.5B | ||
| Q1 25 | $4.3B | $4.0B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | $4.2B | $4.9B | ||
| Q2 24 | $4.1B | $4.1B |
净利润LDOSRCL
| Q1 26 | $327.0M | $950.0M | ||
| Q4 25 | $367.0M | $753.0M | ||
| Q3 25 | $391.0M | $1.6B | ||
| Q2 25 | $363.0M | $1.2B | ||
| Q1 25 | $284.0M | $730.0M | ||
| Q4 24 | — | $552.0M | ||
| Q3 24 | $364.0M | $1.1B | ||
| Q2 24 | $322.0M | $854.0M |
毛利率LDOSRCL
| Q1 26 | 17.4% | — | ||
| Q4 25 | 18.0% | 47.4% | ||
| Q3 25 | 18.0% | 51.8% | ||
| Q2 25 | 17.5% | 49.7% | ||
| Q1 25 | 15.6% | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | 17.8% | 51.1% | ||
| Q2 24 | 16.6% | 47.6% |
营业利润率LDOSRCL
| Q1 26 | 11.3% | 26.1% | ||
| Q4 25 | 12.0% | 21.9% | ||
| Q3 25 | 13.5% | 33.1% | ||
| Q2 25 | 12.5% | 29.3% | ||
| Q1 25 | 9.7% | 23.6% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | 12.4% | 33.4% | ||
| Q2 24 | 11.6% | 26.7% |
净利率LDOSRCL
| Q1 26 | 7.8% | 21.3% | ||
| Q4 25 | 8.2% | 17.7% | ||
| Q3 25 | 9.2% | 30.6% | ||
| Q2 25 | 8.6% | 26.7% | ||
| Q1 25 | 6.5% | 18.3% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 8.7% | 22.7% | ||
| Q2 24 | 7.8% | 20.8% |
每股收益（稀释后）LDOSRCL
| Q1 26 | $2.54 | $3.48 | ||
| Q4 25 | $2.82 | $2.76 | ||
| Q3 25 | $3.01 | $5.74 | ||
| Q2 25 | $2.77 | $4.41 | ||
| Q1 25 | $2.10 | $2.70 | ||
| Q4 24 | — | $2.27 | ||
| Q3 24 | $2.68 | $4.21 | ||
| Q2 24 | $2.37 | $3.11 |
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 | $512.0M |
| 总债务越低越好 | $4.6B | $21.1B |
| 股东权益账面价值 | $4.9B | $10.0B |
| 总资产 | $13.5B | $42.0B |
| 负债/权益比越低杠杆越低 | 0.94× | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资LDOSRCL
| Q1 26 | $1.1B | $512.0M | ||
| Q4 25 | $974.0M | $825.0M | ||
| Q3 25 | $930.0M | $432.0M | ||
| Q2 25 | $842.0M | $735.0M | ||
| Q1 25 | $943.0M | $386.0M | ||
| Q4 24 | — | $388.0M | ||
| Q3 24 | $1.2B | $418.0M | ||
| Q2 24 | $823.0M | $391.0M |
总债务LDOSRCL
| Q1 26 | $4.6B | $21.1B | ||
| Q4 25 | $4.6B | $18.2B | ||
| Q3 25 | $5.0B | $17.2B | ||
| Q2 25 | $5.0B | $17.6B | ||
| Q1 25 | $4.1B | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | $4.1B | $19.0B | ||
| Q2 24 | $4.1B | $19.8B |
股东权益LDOSRCL
| Q1 26 | $4.9B | $10.0B | ||
| Q4 25 | $4.9B | $10.0B | ||
| Q3 25 | $4.7B | $10.1B | ||
| Q2 25 | $4.3B | $9.2B | ||
| Q1 25 | $4.4B | $8.0B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | $4.6B | $7.0B | ||
| Q2 24 | $4.5B | $6.0B |
总资产LDOSRCL
| Q1 26 | $13.5B | $42.0B | ||
| Q4 25 | $13.5B | $41.6B | ||
| Q3 25 | $13.5B | $40.1B | ||
| Q2 25 | $13.2B | $38.5B | ||
| Q1 25 | $13.1B | $37.5B | ||
| Q4 24 | — | $37.1B | ||
| Q3 24 | $13.3B | $37.1B | ||
| Q2 24 | $12.9B | $37.0B |
负债/权益比LDOSRCL
| Q1 26 | 0.94× | 2.11× | ||
| Q4 25 | 0.94× | 1.81× | ||
| Q3 25 | 1.07× | 1.70× | ||
| Q2 25 | 1.18× | 1.92× | ||
| Q1 25 | 0.92× | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | 0.88× | 2.69× | ||
| Q2 24 | 0.92× | 3.29× |
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 | $1.8B |
| 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× | 1.93× |
| 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LDOSRCL
| Q1 26 | $495.0M | $1.8B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $711.0M | $1.5B | ||
| Q2 25 | $58.0M | $1.7B | ||
| Q1 25 | $299.0M | $1.6B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $656.0M | $897.0M | ||
| Q2 24 | $374.0M | $1.6B |
自由现金流LDOSRCL
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $116.0M | ||
| Q3 25 | $680.0M | $-989.0M | ||
| Q2 25 | $36.0M | $910.0M | ||
| Q1 25 | $213.0M | $1.2B | ||
| Q4 24 | — | $915.0M | ||
| Q3 24 | $633.0M | $563.0M | ||
| Q2 24 | $351.0M | $-567.0M |
自由现金流率LDOSRCL
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | 16.1% | -19.2% | ||
| Q2 25 | 0.9% | 20.1% | ||
| Q1 25 | 4.9% | 30.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | 15.2% | 11.5% | ||
| Q2 24 | 8.5% | -13.8% |
资本支出强度LDOSRCL
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 35.4% | ||
| Q3 25 | 0.7% | 47.8% | ||
| Q2 25 | 0.5% | 18.4% | ||
| Q1 25 | 2.0% | 10.7% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 0.6% | 6.8% | ||
| Q2 24 | 0.6% | 52.1% |
现金转化率LDOSRCL
| Q1 26 | 1.51× | 1.93× | ||
| Q4 25 | — | 2.16× | ||
| Q3 25 | 1.82× | 0.93× | ||
| Q2 25 | 0.16× | 1.44× | ||
| Q1 25 | 1.05× | 2.23× | ||
| Q4 24 | — | 2.66× | ||
| Q3 24 | 1.80× | 0.81× | ||
| Q2 24 | 1.16× | 1.84× |
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% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
