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Leidos（LDOS）与标普全球（SPGI）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是标普全球的1.0倍（$4.2B vs $4.2B），标普全球净利率更高（36.1% vs 7.8%，领先28.3%），标普全球同比增速更快（10.0% vs -3.5%），标普全球自由现金流更多（$919.0M vs $452.0M），过去两年标普全球的营收复合增速更高（8.4% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息、数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球市场财智、标普全球能源、标普全球移动、印度信用评级机构CRISIL等业务板块，同时控股合资企业标普道琼斯指数。
LDOS vs SPGI — 直观对比
营收规模更大
LDOS
是对方的1.0倍
$4.2B
营收增速更快
SPGI
高出13.5%
-3.5%
净利率更高
SPGI
高出28.3%
7.8%
自由现金流更多
SPGI
多$467.0M
$452.0M
两年增速更快
SPGI
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $4.2B |
| 净利润 | $327.0M | $1.5B |
| 毛利率 | 17.4% | — |
| 营业利润率 | 11.3% | 48.0% |
| 净利率 | 7.8% | 36.1% |
| 营收同比 | -3.5% | 10.0% |
| 净利润同比 | 15.1% | 28.0% |
| 每股收益（稀释后） | $2.54 | $4.69 |
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LDOSSPGI
| Q1 26 | $4.2B | $4.2B | ||
| Q4 25 | $4.4B | $3.9B | ||
| Q3 25 | $4.2B | $3.9B | ||
| Q2 25 | $4.2B | $3.8B | ||
| Q1 25 | $4.3B | $3.8B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | $4.2B | $3.6B | ||
| Q2 24 | $4.1B | $3.5B |
净利润LDOSSPGI
| Q1 26 | $327.0M | $1.5B | ||
| Q4 25 | $367.0M | $1.1B | ||
| Q3 25 | $391.0M | $1.2B | ||
| Q2 25 | $363.0M | $1.1B | ||
| Q1 25 | $284.0M | $1.1B | ||
| Q4 24 | — | $879.0M | ||
| Q3 24 | $364.0M | $971.0M | ||
| Q2 24 | $322.0M | $1.0B |
毛利率LDOSSPGI
| Q1 26 | 17.4% | — | ||
| Q4 25 | 18.0% | 70.1% | ||
| Q3 25 | 18.0% | 71.2% | ||
| Q2 25 | 17.5% | 70.2% | ||
| Q1 25 | 15.6% | 69.5% | ||
| Q4 24 | — | 69.8% | ||
| Q3 24 | 17.8% | 70.0% | ||
| Q2 24 | 16.6% | 69.4% |
营业利润率LDOSSPGI
| Q1 26 | 11.3% | 48.0% | ||
| Q4 25 | 12.0% | 42.7% | ||
| Q3 25 | 13.5% | 43.1% | ||
| Q2 25 | 12.5% | 41.3% | ||
| Q1 25 | 9.7% | 41.8% | ||
| Q4 24 | — | 36.4% | ||
| Q3 24 | 12.4% | 40.1% | ||
| Q2 24 | 11.6% | 40.9% |
净利率LDOSSPGI
| Q1 26 | 7.8% | 36.1% | ||
| Q4 25 | 8.2% | 28.9% | ||
| Q3 25 | 9.2% | 30.2% | ||
| Q2 25 | 8.6% | 28.5% | ||
| Q1 25 | 6.5% | 28.9% | ||
| Q4 24 | — | 24.5% | ||
| Q3 24 | 8.7% | 27.2% | ||
| Q2 24 | 7.8% | 28.5% |
每股收益（稀释后）LDOSSPGI
| Q1 26 | $2.54 | $4.69 | ||
| Q4 25 | $2.82 | $3.76 | ||
| Q3 25 | $3.01 | $3.86 | ||
| Q2 25 | $2.77 | $3.50 | ||
| Q1 25 | $2.10 | $3.54 | ||
| Q4 24 | — | $2.85 | ||
| Q3 24 | $2.68 | $3.11 | ||
| Q2 24 | $2.37 | $3.23 |
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 | — |
| 总债务越低越好 | $4.6B | $13.3B |
| 股东权益账面价值 | $4.9B | $31.3B |
| 总资产 | $13.5B | $60.8B |
| 负债/权益比越低杠杆越低 | 0.94× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资LDOSSPGI
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | $1.8B | ||
| Q3 25 | $930.0M | $1.7B | ||
| Q2 25 | $842.0M | $1.8B | ||
| Q1 25 | $943.0M | $1.5B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $823.0M | $2.0B |
总债务LDOSSPGI
| Q1 26 | $4.6B | $13.3B | ||
| Q4 25 | $4.6B | $13.1B | ||
| Q3 25 | $5.0B | $11.4B | ||
| Q2 25 | $5.0B | $11.4B | ||
| Q1 25 | $4.1B | $11.4B | ||
| Q4 24 | — | $11.4B | ||
| Q3 24 | $4.1B | $11.4B | ||
| Q2 24 | $4.1B | $11.4B |
股东权益LDOSSPGI
| Q1 26 | $4.9B | $31.3B | ||
| Q4 25 | $4.9B | $31.1B | ||
| Q3 25 | $4.7B | $33.1B | ||
| Q2 25 | $4.3B | $33.4B | ||
| Q1 25 | $4.4B | $33.4B | ||
| Q4 24 | — | $33.2B | ||
| Q3 24 | $4.6B | $34.0B | ||
| Q2 24 | $4.5B | $34.9B |
总资产LDOSSPGI
| Q1 26 | $13.5B | $60.8B | ||
| Q4 25 | $13.5B | $61.2B | ||
| Q3 25 | $13.5B | $59.7B | ||
| Q2 25 | $13.2B | $60.4B | ||
| Q1 25 | $13.1B | $59.9B | ||
| Q4 24 | — | $60.2B | ||
| Q3 24 | $13.3B | $60.4B | ||
| Q2 24 | $12.9B | $61.0B |
负债/权益比LDOSSPGI
| Q1 26 | 0.94× | 0.43× | ||
| Q4 25 | 0.94× | 0.42× | ||
| Q3 25 | 1.07× | 0.34× | ||
| Q2 25 | 1.18× | 0.34× | ||
| Q1 25 | 0.92× | 0.34× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | 0.88× | 0.34× | ||
| Q2 24 | 0.92× | 0.33× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $919.0M |
| 自由现金流率自由现金流/营收 | 10.8% | 22.0% |
| 资本支出强度资本支出/营收 | 1.0% | 0.6% |
| 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 | — | $5.5B |
8季度趋势，按日历期对齐
经营现金流LDOSSPGI
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | $711.0M | $1.5B | ||
| Q2 25 | $58.0M | $1.4B | ||
| Q1 25 | $299.0M | $953.0M | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $656.0M | $1.4B | ||
| Q2 24 | $374.0M | $1.6B |
自由现金流LDOSSPGI
| Q1 26 | $452.0M | $919.0M | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | $680.0M | $1.5B | ||
| Q2 25 | $36.0M | $1.4B | ||
| Q1 25 | $213.0M | $910.0M | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $633.0M | $1.4B | ||
| Q2 24 | $351.0M | $1.5B |
自由现金流率LDOSSPGI
| Q1 26 | 10.8% | 22.0% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | 16.1% | 37.6% | ||
| Q2 25 | 0.9% | 36.9% | ||
| Q1 25 | 4.9% | 24.1% | ||
| Q4 24 | — | 47.5% | ||
| Q3 24 | 15.2% | 39.4% | ||
| Q2 24 | 8.5% | 42.9% |
资本支出强度LDOSSPGI
| Q1 26 | 1.0% | 0.6% | ||
| Q4 25 | — | 1.2% | ||
| Q3 25 | 0.7% | 1.2% | ||
| Q2 25 | 0.5% | 1.6% | ||
| Q1 25 | 2.0% | 1.1% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | 0.6% | 1.0% | ||
| Q2 24 | 0.6% | 0.9% |
现金转化率LDOSSPGI
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 1.54× | ||
| Q3 25 | 1.82× | 1.28× | ||
| Q2 25 | 0.16× | 1.35× | ||
| Q1 25 | 1.05× | 0.87× | ||
| Q4 24 | — | 1.98× | ||
| Q3 24 | 1.80× | 1.49× | ||
| Q2 24 | 1.16× | 1.54× |
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% |
SPGI
| Ratings | $1.3B | 31% |
| Market Intelligence | $1.3B | 31% |
| Energy | $652.0M | 16% |
| Indices | $519.0M | 12% |
| Mobility | $454.0M | 11% |
