vs
Leidos（LDOS）与TENET HEALTHCARE CORP（THC）财务数据对比。点击上方公司名可切换其他公司
TENET HEALTHCARE CORP的季度营收约是Leidos的1.3倍（$5.5B vs $4.4B），TENET HEALTHCARE CORP净利率更高（11.7% vs 7.6%，领先4.0%），TENET HEALTHCARE CORP同比增速更快（9.0% vs 3.7%），过去两年Leidos的营收复合增速更高（3.5% vs 1.5%）
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。
Tenet Healthcare Corporation是总部位于美国达拉斯的营利性跨国医疗服务企业，旗下拥有USPI等多个品牌、子公司、合资企业及合作主体，运营65家医院及超过450个医疗设施，还通过旗下Conifer Health Solutions为各类医疗系统及其他客户提供专业医疗支持服务
LDOS vs THC — 直观对比
营收规模更大
THC
是对方的1.3倍
$4.4B
营收增速更快
THC
高出5.3%
3.7%
净利率更高
THC
高出4.0%
7.6%
两年增速更快
LDOS
近两年复合增速
1.5%
损益表 — Q1 FY2027 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.4B | $5.5B |
| 净利润 | $335.0M | $644.0M |
| 毛利率 | 17.3% | — |
| 营业利润率 | 11.5% | 15.4% |
| 净利率 | 7.6% | 11.7% |
| 营收同比 | 3.7% | 9.0% |
| 净利润同比 | -8.2% | 12.6% |
| 每股收益（稀释后） | $2.56 | $4.22 |
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LDOSTHC
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $5.5B | ||
| Q3 25 | $4.2B | $5.3B | ||
| Q2 25 | $4.2B | $5.3B | ||
| Q1 25 | $4.3B | $5.2B | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | $4.2B | $5.1B | ||
| Q2 24 | $4.1B | $5.1B |
净利润LDOSTHC
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $644.0M | ||
| Q3 25 | $391.0M | $579.0M | ||
| Q2 25 | $363.0M | $522.0M | ||
| Q1 25 | $284.0M | $622.0M | ||
| Q4 24 | — | $572.0M | ||
| Q3 24 | $364.0M | $681.0M | ||
| Q2 24 | $322.0M | $477.0M |
毛利率LDOSTHC
| 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LDOSTHC
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 15.4% | ||
| Q3 25 | 13.5% | 16.8% | ||
| Q2 25 | 12.5% | 15.6% | ||
| Q1 25 | 9.7% | 18.1% | ||
| Q4 24 | — | 16.2% | ||
| Q3 24 | 12.4% | 21.3% | ||
| Q2 24 | 11.6% | 14.9% |
净利率LDOSTHC
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 11.7% | ||
| Q3 25 | 9.2% | 10.9% | ||
| Q2 25 | 8.6% | 9.9% | ||
| Q1 25 | 6.5% | 11.9% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | 8.7% | 13.3% | ||
| Q2 24 | 7.8% | 9.3% |
每股收益（稀释后）LDOSTHC
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $4.22 | ||
| Q3 25 | $3.01 | $3.86 | ||
| Q2 25 | $2.77 | $3.14 | ||
| Q1 25 | $2.10 | $4.27 | ||
| Q4 24 | — | $3.79 | ||
| Q3 24 | $2.68 | $4.89 | ||
| Q2 24 | $2.37 | $2.64 |
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 | $457.0M | $2.9B |
| 总债务越低越好 | $6.0B | $13.1B |
| 股东权益账面价值 | $5.1B | $4.2B |
| 总资产 | $15.4B | $29.7B |
| 负债/权益比越低杠杆越低 | 1.19× | 3.10× |
8季度趋势，按日历期对齐
现金及短期投资LDOSTHC
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | $2.9B | ||
| Q3 25 | $930.0M | $3.0B | ||
| Q2 25 | $842.0M | $2.6B | ||
| Q1 25 | $943.0M | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | $1.2B | $4.1B | ||
| Q2 24 | $823.0M | $2.9B |
总债务LDOSTHC
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.6B | $13.1B | ||
| Q3 25 | $5.0B | $13.1B | ||
| Q2 25 | $5.0B | $13.1B | ||
| Q1 25 | $4.1B | $13.1B | ||
| Q4 24 | — | $13.1B | ||
| Q3 24 | $4.1B | $12.8B | ||
| Q2 24 | $4.1B | $12.8B |
股东权益LDOSTHC
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $4.2B | ||
| Q3 25 | $4.7B | $4.0B | ||
| Q2 25 | $4.3B | $3.7B | ||
| Q1 25 | $4.4B | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | $4.6B | $3.8B | ||
| Q2 24 | $4.5B | $3.5B |
总资产LDOSTHC
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $29.7B | ||
| Q3 25 | $13.5B | $29.4B | ||
| Q2 25 | $13.2B | $28.7B | ||
| Q1 25 | $13.1B | $29.2B | ||
| Q4 24 | — | $28.9B | ||
| Q3 24 | $13.3B | $29.4B | ||
| Q2 24 | $12.9B | $29.3B |
负债/权益比LDOSTHC
| Q1 26 | 0.94× | — | ||
| Q4 25 | 0.94× | 3.10× | ||
| Q3 25 | 1.07× | 3.26× | ||
| Q2 25 | 1.18× | 3.49× | ||
| Q1 25 | 0.92× | 3.13× | ||
| Q4 24 | — | 3.14× | ||
| Q3 24 | 0.88× | 3.33× | ||
| Q2 24 | 0.92× | 3.67× |
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 | $301.0M | $731.0M |
| 自由现金流经营现金流 - 资本支出 | — | $367.0M |
| 自由现金流率自由现金流/营收 | — | 6.6% |
| 资本支出强度资本支出/营收 | — | 6.6% |
| 现金转化率经营现金流/净利润 | 0.90× | 1.14× |
| 过去12个月自由现金流最近4个季度 | — | $2.5B |
8季度趋势，按日历期对齐
经营现金流LDOSTHC
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $731.0M | ||
| Q3 25 | $711.0M | $1.1B | ||
| Q2 25 | $58.0M | $936.0M | ||
| Q1 25 | $299.0M | $815.0M | ||
| Q4 24 | — | $-331.0M | ||
| Q3 24 | $656.0M | $1.0B | ||
| Q2 24 | $374.0M | $747.0M |
自由现金流LDOSTHC
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $367.0M | ||
| Q3 25 | $680.0M | $778.0M | ||
| Q2 25 | $36.0M | $743.0M | ||
| Q1 25 | $213.0M | $642.0M | ||
| Q4 24 | — | $-661.0M | ||
| Q3 24 | $633.0M | $829.0M | ||
| Q2 24 | $351.0M | $602.0M |
自由现金流率LDOSTHC
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | 6.6% | ||
| Q3 25 | 16.1% | 14.7% | ||
| Q2 25 | 0.9% | 14.1% | ||
| Q1 25 | 4.9% | 12.3% | ||
| Q4 24 | — | -13.0% | ||
| Q3 24 | 15.2% | 16.2% | ||
| Q2 24 | 8.5% | 11.8% |
资本支出强度LDOSTHC
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 6.6% | ||
| Q3 25 | 0.7% | 5.3% | ||
| Q2 25 | 0.5% | 3.7% | ||
| Q1 25 | 2.0% | 3.3% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | 0.6% | 4.2% | ||
| Q2 24 | 0.6% | 2.8% |
现金转化率LDOSTHC
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 1.14× | ||
| Q3 25 | 1.82× | 1.83× | ||
| Q2 25 | 0.16× | 1.79× | ||
| Q1 25 | 1.05× | 1.31× | ||
| Q4 24 | — | -0.58× | ||
| Q3 24 | 1.80× | 1.53× | ||
| Q2 24 | 1.16× | 1.57× |
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
暂无分部数据
THC
| Other | $2.9B | 52% |
| Health Care Patient Service | $1.4B | 25% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.2B | 22% |
| Health Care Other Sources | $56.0M | 1% |
