vs
Leidos（LDOS）与德事隆（TXT）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是德事隆的1.0倍（$4.2B vs $4.2B），Leidos净利率更高（7.8% vs 5.6%，领先2.2%），德事隆同比增速更快（15.6% vs -3.5%），德事隆自由现金流更多（$527.0M vs $452.0M），过去两年德事隆的营收复合增速更高（15.4% 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。
德事隆是总部位于美国罗德岛州普罗维登斯的工业集团，1923年由罗亚尔·利特尔创立，前身为特种纱线公司。旗下拥有贝尔德事隆、考泰斯、德事隆航空、莱康明发动机等子公司，业务覆盖25个国家，2020年员工总数超3.3万人，2021年位列美国财富500强第265位。
LDOS vs TXT — 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
TXT
高出19.0%
-3.5%
净利率更高
LDOS
高出2.2%
5.6%
自由现金流更多
TXT
多$75.0M
$452.0M
两年增速更快
TXT
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $4.2B |
| 净利润 | $327.0M | $235.0M |
| 毛利率 | 17.4% | — |
| 营业利润率 | 11.3% | — |
| 净利率 | 7.8% | 5.6% |
| 营收同比 | -3.5% | 15.6% |
| 净利润同比 | 15.1% | 66.7% |
| 每股收益（稀释后） | $2.54 | — |
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LDOSTXT
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $4.2B | ||
| Q3 25 | $4.2B | $3.6B | ||
| Q2 25 | $4.2B | $3.7B | ||
| Q1 25 | $4.3B | $3.3B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | $4.2B | $3.4B | ||
| Q2 24 | $4.1B | $3.5B |
净利润LDOSTXT
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $235.0M | ||
| Q3 25 | $391.0M | $234.0M | ||
| Q2 25 | $363.0M | $245.0M | ||
| Q1 25 | $284.0M | $207.0M | ||
| Q4 24 | — | $141.0M | ||
| Q3 24 | $364.0M | $223.0M | ||
| Q2 24 | $322.0M | $259.0M |
毛利率LDOSTXT
| 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LDOSTXT
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | — | ||
| Q3 25 | 13.5% | — | ||
| Q2 25 | 12.5% | — | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | 12.4% | 7.4% | ||
| Q2 24 | 11.6% | 9.2% |
净利率LDOSTXT
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 5.6% | ||
| Q3 25 | 9.2% | 6.5% | ||
| Q2 25 | 8.6% | 6.6% | ||
| Q1 25 | 6.5% | 6.3% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | 8.7% | 6.5% | ||
| Q2 24 | 7.8% | 7.3% |
每股收益（稀释后）LDOSTXT
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | — | ||
| Q3 25 | $3.01 | — | ||
| Q2 25 | $2.77 | — | ||
| Q1 25 | $2.10 | $1.13 | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.68 | — | ||
| Q2 24 | $2.37 | — |
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 | — |
| 股东权益账面价值 | $4.9B | — |
| 总资产 | $13.5B | — |
| 负债/权益比越低杠杆越低 | 0.94× | — |
8季度趋势，按日历期对齐
现金及短期投资LDOSTXT
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | — | ||
| Q3 25 | $930.0M | — | ||
| Q2 25 | $842.0M | — | ||
| Q1 25 | $943.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $823.0M | — |
总债务LDOSTXT
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.6B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
股东权益LDOSTXT
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | — | ||
| Q3 25 | $4.7B | $7.5B | ||
| Q2 25 | $4.3B | $7.4B | ||
| Q1 25 | $4.4B | $7.3B | ||
| Q4 24 | — | $7.2B | ||
| Q3 24 | $4.6B | $7.0B | ||
| Q2 24 | $4.5B | $6.9B |
总资产LDOSTXT
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | — | ||
| Q3 25 | $13.5B | $17.4B | ||
| Q2 25 | $13.2B | $17.1B | ||
| Q1 25 | $13.1B | $16.9B | ||
| Q4 24 | — | $16.8B | ||
| Q3 24 | $13.3B | $16.5B | ||
| Q2 24 | $12.9B | $16.4B |
负债/权益比LDOSTXT
| Q1 26 | 0.94× | — | ||
| Q4 25 | 0.94× | — | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 1.18× | — | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.88× | — | ||
| Q2 24 | 0.92× | — |
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 | $700.0M |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $527.0M |
| 自由现金流率自由现金流/营收 | 10.8% | 12.6% |
| 资本支出强度资本支出/营收 | 1.0% | 4.1% |
| 现金转化率经营现金流/净利润 | 1.51× | 2.98× |
| 过去12个月自由现金流最近4个季度 | — | $929.0M |
8季度趋势，按日历期对齐
经营现金流LDOSTXT
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $700.0M | ||
| Q3 25 | $711.0M | $349.0M | ||
| Q2 25 | $58.0M | $387.0M | ||
| Q1 25 | $299.0M | $-124.0M | ||
| Q4 24 | — | $446.0M | ||
| Q3 24 | $656.0M | $208.0M | ||
| Q2 24 | $374.0M | $367.0M |
自由现金流LDOSTXT
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $527.0M | ||
| Q3 25 | $680.0M | $273.0M | ||
| Q2 25 | $36.0M | $309.0M | ||
| Q1 25 | $213.0M | $-180.0M | ||
| Q4 24 | — | $293.0M | ||
| Q3 24 | $633.0M | $137.0M | ||
| Q2 24 | $351.0M | $293.0M |
自由现金流率LDOSTXT
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | 12.6% | ||
| Q3 25 | 16.1% | 7.6% | ||
| Q2 25 | 0.9% | 8.3% | ||
| Q1 25 | 4.9% | -5.4% | ||
| Q4 24 | — | 8.1% | ||
| Q3 24 | 15.2% | 4.0% | ||
| Q2 24 | 8.5% | 8.3% |
资本支出强度LDOSTXT
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 4.1% | ||
| Q3 25 | 0.7% | 2.1% | ||
| Q2 25 | 0.5% | 2.1% | ||
| Q1 25 | 2.0% | 1.7% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | 0.6% | 2.1% | ||
| Q2 24 | 0.6% | 2.1% |
现金转化率LDOSTXT
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 2.98× | ||
| Q3 25 | 1.82× | 1.49× | ||
| Q2 25 | 0.16× | 1.58× | ||
| Q1 25 | 1.05× | -0.60× | ||
| Q4 24 | — | 3.16× | ||
| Q3 24 | 1.80× | 0.93× | ||
| Q2 24 | 1.16× | 1.42× |
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% |
TXT
| Aircraft | $1.2B | 29% |
| Military Aircraft And Support Programs | $655.0M | 16% |
| Aftermarket Parts And Services | $551.0M | 13% |
| Services | $507.0M | 12% |
| Fuel Systems And Functional Components | $480.0M | 11% |
| Textron Systems | $323.0M | 8% |
| Other | $317.0M | 8% |
| US Government | $119.0M | 3% |
| Finance | $18.0M | 0% |
| Textron E Aviation Segment | $7.0M | 0% |
