vs
Leidos（LDOS）与泰佩思琦（TPR）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是泰佩思琦的1.7倍（$4.2B vs $2.5B），泰佩思琦净利率更高（22.4% vs 7.8%，领先14.6%），泰佩思琦同比增速更快（14.0% vs -3.5%），泰佩思琦自由现金流更多（$1.0B vs $452.0M），过去两年泰佩思琦的营收复合增速更高（29.9% 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。
Tapestry, Inc.是美国知名跨国奢侈品时尚控股企业，旗下拥有Coach、Kate Spade New York、Stuart Weitzman三大标志性生活方式品牌，主营高端手袋、服饰、鞋履、配饰及香水产品，销售渠道覆盖全球线下门店与线上电商平台。
LDOS vs TPR — 直观对比
营收规模更大
LDOS
是对方的1.7倍
$2.5B
营收增速更快
TPR
高出17.5%
-3.5%
净利率更高
TPR
高出14.6%
7.8%
自由现金流更多
TPR
多$585.5M
$452.0M
两年增速更快
TPR
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $2.5B |
| 净利润 | $327.0M | $561.3M |
| 毛利率 | 17.4% | 75.5% |
| 营业利润率 | 11.3% | 28.6% |
| 净利率 | 7.8% | 22.4% |
| 营收同比 | -3.5% | 14.0% |
| 净利润同比 | 15.1% | 80.8% |
| 每股收益（稀释后） | $2.54 | $2.68 |
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LDOSTPR
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $2.5B | ||
| Q3 25 | $4.2B | $1.7B | ||
| Q2 25 | $4.2B | $1.7B | ||
| Q1 25 | $4.3B | $1.6B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | $4.2B | $1.5B | ||
| Q2 24 | $4.1B | $1.6B |
净利润LDOSTPR
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $561.3M | ||
| Q3 25 | $391.0M | $274.8M | ||
| Q2 25 | $363.0M | $-517.1M | ||
| Q1 25 | $284.0M | $203.3M | ||
| Q4 24 | — | $310.4M | ||
| Q3 24 | $364.0M | $186.6M | ||
| Q2 24 | $322.0M | $159.3M |
毛利率LDOSTPR
| Q1 26 | 17.4% | — | ||
| Q4 25 | 18.0% | 75.5% | ||
| Q3 25 | 18.0% | 76.3% | ||
| Q2 25 | 17.5% | 76.3% | ||
| Q1 25 | 15.6% | 76.1% | ||
| Q4 24 | — | 74.4% | ||
| Q3 24 | 17.8% | 75.3% | ||
| Q2 24 | 16.6% | 74.9% |
营业利润率LDOSTPR
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 28.6% | ||
| Q3 25 | 13.5% | 19.3% | ||
| Q2 25 | 12.5% | -33.9% | ||
| Q1 25 | 9.7% | 16.0% | ||
| Q4 24 | — | 22.4% | ||
| Q3 24 | 12.4% | 16.7% | ||
| Q2 24 | 11.6% | 14.8% |
净利率LDOSTPR
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 22.4% | ||
| Q3 25 | 9.2% | 16.1% | ||
| Q2 25 | 8.6% | -30.0% | ||
| Q1 25 | 6.5% | 12.8% | ||
| Q4 24 | — | 14.1% | ||
| Q3 24 | 8.7% | 12.4% | ||
| Q2 24 | 7.8% | 10.0% |
每股收益（稀释后）LDOSTPR
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $2.68 | ||
| Q3 25 | $3.01 | $1.28 | ||
| Q2 25 | $2.77 | $-2.30 | ||
| Q1 25 | $2.10 | $0.95 | ||
| Q4 24 | — | $1.38 | ||
| Q3 24 | $2.68 | $0.79 | ||
| Q2 24 | $2.37 | $0.67 |
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 | $1.1B |
| 总债务越低越好 | $4.6B | $2.4B |
| 股东权益账面价值 | $4.9B | $551.2M |
| 总资产 | $13.5B | $6.5B |
| 负债/权益比越低杠杆越低 | 0.94× | 4.32× |
8季度趋势，按日历期对齐
现金及短期投资LDOSTPR
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | $1.1B | ||
| Q3 25 | $930.0M | $743.2M | ||
| Q2 25 | $842.0M | $1.1B | ||
| Q1 25 | $943.0M | $1.1B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $1.2B | $7.3B | ||
| Q2 24 | $823.0M | $7.2B |
总债务LDOSTPR
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.6B | $2.4B | ||
| Q3 25 | $5.0B | $2.4B | ||
| Q2 25 | $5.0B | $2.4B | ||
| Q1 25 | $4.1B | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $4.1B | $7.0B | ||
| Q2 24 | $4.1B | $6.9B |
股东权益LDOSTPR
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $551.2M | ||
| Q3 25 | $4.7B | $399.5M | ||
| Q2 25 | $4.3B | $857.8M | ||
| Q1 25 | $4.4B | $1.5B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $4.6B | $3.0B | ||
| Q2 24 | $4.5B | $2.9B |
总资产LDOSTPR
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $6.5B | ||
| Q3 25 | $13.5B | $6.4B | ||
| Q2 25 | $13.2B | $6.6B | ||
| Q1 25 | $13.1B | $7.3B | ||
| Q4 24 | — | $7.3B | ||
| Q3 24 | $13.3B | $13.7B | ||
| Q2 24 | $12.9B | $13.4B |
负债/权益比LDOSTPR
| Q1 26 | 0.94× | — | ||
| Q4 25 | 0.94× | 4.32× | ||
| Q3 25 | 1.07× | 5.95× | ||
| Q2 25 | 1.18× | 2.77× | ||
| Q1 25 | 0.92× | 1.59× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | 0.88× | 2.35× | ||
| Q2 24 | 0.92× | 2.39× |
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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $1.0B |
| 自由现金流率自由现金流/营收 | 10.8% | 41.5% |
| 资本支出强度资本支出/营收 | 1.0% | 1.7% |
| 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 | — | $1.6B |
8季度趋势，按日历期对齐
经营现金流LDOSTPR
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $711.0M | $112.6M | ||
| Q2 25 | $58.0M | $446.8M | ||
| Q1 25 | $299.0M | $144.3M | ||
| Q4 24 | — | $506.0M | ||
| Q3 24 | $656.0M | $119.5M | ||
| Q2 24 | $374.0M | $256.0M |
自由现金流LDOSTPR
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | $680.0M | $80.2M | ||
| Q2 25 | $36.0M | $411.5M | ||
| Q1 25 | $213.0M | $113.4M | ||
| Q4 24 | — | $475.1M | ||
| Q3 24 | $633.0M | $93.9M | ||
| Q2 24 | $351.0M | $209.8M |
自由现金流率LDOSTPR
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | 41.5% | ||
| Q3 25 | 16.1% | 4.7% | ||
| Q2 25 | 0.9% | 23.9% | ||
| Q1 25 | 4.9% | 7.2% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | 15.2% | 6.2% | ||
| Q2 24 | 8.5% | 13.2% |
资本支出强度LDOSTPR
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 1.7% | ||
| Q3 25 | 0.7% | 1.9% | ||
| Q2 25 | 0.5% | 2.0% | ||
| Q1 25 | 2.0% | 2.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 0.6% | 1.7% | ||
| Q2 24 | 0.6% | 2.9% |
现金转化率LDOSTPR
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 1.93× | ||
| Q3 25 | 1.82× | 0.41× | ||
| Q2 25 | 0.16× | — | ||
| Q1 25 | 1.05× | 0.71× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | 1.80× | 0.64× | ||
| Q2 24 | 1.16× | 1.61× |
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% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
