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Leidos（LDOS）与Science Applications International Corp（SAIC）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Science Applications International Corp的2.2倍（$4.2B vs $1.9B），Leidos净利率更高（7.8% vs 4.2%，领先3.6%），Science Applications International Corp同比增速更快（2.6% vs -3.5%），Leidos自由现金流更多（$452.0M vs $120.0M），过去两年Leidos的营收复合增速更高（3.1% vs 2.3%）
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。
科学应用国际公司（SAIC）是一家总部位于美国弗吉尼亚州雷斯顿的科技企业，主要为政府机构提供专业服务与信息技术支持，在公共部门技术服务领域拥有丰富的行业经验与技术积累。
LDOS vs SAIC — 直观对比
营收规模更大
LDOS
是对方的2.2倍
$1.9B
营收增速更快
SAIC
高出6.1%
-3.5%
净利率更高
LDOS
高出3.6%
4.2%
自由现金流更多
LDOS
多$332.0M
$120.0M
两年增速更快
LDOS
近两年复合增速
2.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $1.9B |
| 净利润 | $327.0M | $78.0M |
| 毛利率 | 17.4% | 12.2% |
| 营业利润率 | 11.3% | 6.9% |
| 净利率 | 7.8% | 4.2% |
| 营收同比 | -3.5% | 2.6% |
| 净利润同比 | 15.1% | -3.7% |
| 每股收益（稀释后） | $2.54 | $1.69 |
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LDOSSAIC
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $1.9B | ||
| Q3 25 | $4.2B | — | ||
| Q2 25 | $4.2B | $1.9B | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | $4.2B | $1.8B | ||
| Q2 24 | $4.1B | $1.8B |
净利润LDOSSAIC
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $78.0M | ||
| Q3 25 | $391.0M | — | ||
| Q2 25 | $363.0M | $68.0M | ||
| Q1 25 | $284.0M | — | ||
| Q4 24 | — | $106.0M | ||
| Q3 24 | $364.0M | $81.0M | ||
| Q2 24 | $322.0M | $77.0M |
毛利率LDOSSAIC
| Q1 26 | 17.4% | — | ||
| Q4 25 | 18.0% | 12.2% | ||
| Q3 25 | 18.0% | — | ||
| Q2 25 | 17.5% | 11.1% | ||
| Q1 25 | 15.6% | — | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | 17.8% | 11.6% | ||
| Q2 24 | 16.6% | 11.5% |
营业利润率LDOSSAIC
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 6.9% | ||
| Q3 25 | 13.5% | — | ||
| Q2 25 | 12.5% | 6.4% | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | — | 8.1% | ||
| Q3 24 | 12.4% | 7.4% | ||
| Q2 24 | 11.6% | 7.1% |
净利率LDOSSAIC
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 4.2% | ||
| Q3 25 | 9.2% | — | ||
| Q2 25 | 8.6% | 3.6% | ||
| Q1 25 | 6.5% | — | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | 8.7% | 4.5% | ||
| Q2 24 | 7.8% | 4.2% |
每股收益（稀释后）LDOSSAIC
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $1.69 | ||
| Q3 25 | $3.01 | — | ||
| Q2 25 | $2.77 | $1.42 | ||
| Q1 25 | $2.10 | — | ||
| Q4 24 | — | $2.13 | ||
| Q3 24 | $2.68 | $1.58 | ||
| Q2 24 | $2.37 | $1.48 |
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 | $45.0M |
| 总债务越低越好 | $4.6B | $2.5B |
| 股东权益账面价值 | $4.9B | $1.5B |
| 总资产 | $13.5B | $5.4B |
| 负债/权益比越低杠杆越低 | 0.94× | 1.64× |
8季度趋势，按日历期对齐
现金及短期投资LDOSSAIC
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | $45.0M | ||
| Q3 25 | $930.0M | — | ||
| Q2 25 | $842.0M | $47.0M | ||
| Q1 25 | $943.0M | — | ||
| Q4 24 | — | $46.0M | ||
| Q3 24 | $1.2B | $48.0M | ||
| Q2 24 | $823.0M | $49.0M |
总债务LDOSSAIC
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.6B | $2.5B | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.0B | $2.3B | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | $4.1B | $2.2B | ||
| Q2 24 | $4.1B | $2.1B |
股东权益LDOSSAIC
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $1.5B | ||
| Q3 25 | $4.7B | — | ||
| Q2 25 | $4.3B | $1.5B | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $4.6B | $1.6B | ||
| Q2 24 | $4.5B | $1.8B |
总资产LDOSSAIC
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $5.4B | ||
| Q3 25 | $13.5B | — | ||
| Q2 25 | $13.2B | $5.2B | ||
| Q1 25 | $13.1B | — | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | $13.3B | $5.3B | ||
| Q2 24 | $12.9B | $5.3B |
负债/权益比LDOSSAIC
| Q1 26 | 0.94× | — | ||
| Q4 25 | 0.94× | 1.64× | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 1.18× | 1.52× | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | — | 1.34× | ||
| Q3 24 | 0.88× | 1.33× | ||
| Q2 24 | 0.92× | 1.18× |
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 | $129.0M |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $120.0M |
| 自由现金流率自由现金流/营收 | 10.8% | 6.4% |
| 资本支出强度资本支出/营收 | 1.0% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.51× | 1.65× |
| 过去12个月自由现金流最近4个季度 | — | $478.0M |
8季度趋势，按日历期对齐
经营现金流LDOSSAIC
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $129.0M | ||
| Q3 25 | $711.0M | — | ||
| Q2 25 | $58.0M | $100.0M | ||
| Q1 25 | $299.0M | — | ||
| Q4 24 | — | $143.0M | ||
| Q3 24 | $656.0M | $138.0M | ||
| Q2 24 | $374.0M | $98.0M |
自由现金流LDOSSAIC
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $120.0M | ||
| Q3 25 | $680.0M | — | ||
| Q2 25 | $36.0M | $92.0M | ||
| Q1 25 | $213.0M | — | ||
| Q4 24 | — | $134.0M | ||
| Q3 24 | $633.0M | $132.0M | ||
| Q2 24 | $351.0M | $92.0M |
自由现金流率LDOSSAIC
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | 6.4% | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 0.9% | 4.9% | ||
| Q1 25 | 4.9% | — | ||
| Q4 24 | — | 6.8% | ||
| Q3 24 | 15.2% | 7.3% | ||
| Q2 24 | 8.5% | 5.0% |
资本支出强度LDOSSAIC
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 0.5% | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.5% | 0.4% | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | 0.6% | 0.3% | ||
| Q2 24 | 0.6% | 0.3% |
现金转化率LDOSSAIC
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 1.65× | ||
| Q3 25 | 1.82× | — | ||
| Q2 25 | 0.16× | 1.47× | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | — | 1.35× | ||
| Q3 24 | 1.80× | 1.70× | ||
| Q2 24 | 1.16× | 1.27× |
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% |
SAIC
| Prime Contractor | $1.3B | 71% |
| Civilian | $427.0M | 23% |
| Subcontractor | $116.0M | 6% |
| Commercial State And Local Agencies | $7.0M | 0% |
