vs
Leidos（LDOS）与美国合众银行（USB）财务数据对比。点击上方公司名可切换其他公司
美国合众银行的季度营收约是Leidos的1.8倍（$7.4B vs $4.2B），美国合众银行净利率更高（27.8% vs 7.8%，领先20.0%），美国合众银行同比增速更快（5.1% vs -3.5%），过去两年美国合众银行的营收复合增速更高（4.7% 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。
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
LDOS vs USB — 直观对比
营收规模更大
USB
是对方的1.8倍
$4.2B
营收增速更快
USB
高出8.6%
-3.5%
净利率更高
USB
高出20.0%
7.8%
两年增速更快
USB
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $7.4B |
| 净利润 | $327.0M | $2.0B |
| 毛利率 | 17.4% | — |
| 营业利润率 | 11.3% | 34.4% |
| 净利率 | 7.8% | 27.8% |
| 营收同比 | -3.5% | 5.1% |
| 净利润同比 | 15.1% | 23.0% |
| 每股收益（稀释后） | $2.54 | $1.26 |
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LDOSUSB
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $7.4B | ||
| Q3 25 | $4.2B | $7.3B | ||
| Q2 25 | $4.2B | $7.0B | ||
| Q1 25 | $4.3B | $7.0B | ||
| Q4 24 | — | $7.0B | ||
| Q3 24 | $4.2B | $6.9B | ||
| Q2 24 | $4.1B | $6.9B |
净利润LDOSUSB
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $2.0B | ||
| Q3 25 | $391.0M | $2.0B | ||
| Q2 25 | $363.0M | $1.8B | ||
| Q1 25 | $284.0M | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $364.0M | $1.7B | ||
| Q2 24 | $322.0M | $1.6B |
毛利率LDOSUSB
| 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LDOSUSB
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 34.4% | ||
| Q3 25 | 13.5% | 34.5% | ||
| Q2 25 | 12.5% | 32.7% | ||
| Q1 25 | 9.7% | 31.0% | ||
| Q4 24 | — | 30.1% | ||
| Q3 24 | 12.4% | 30.2% | ||
| Q2 24 | 11.6% | 29.9% |
净利率LDOSUSB
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 27.8% | ||
| Q3 25 | 9.2% | 27.3% | ||
| Q2 25 | 8.6% | 25.9% | ||
| Q1 25 | 6.5% | 24.6% | ||
| Q4 24 | — | 23.7% | ||
| Q3 24 | 8.7% | 25.0% | ||
| Q2 24 | 7.8% | 23.3% |
每股收益（稀释后）LDOSUSB
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $1.26 | ||
| Q3 25 | $3.01 | $1.22 | ||
| Q2 25 | $2.77 | $1.11 | ||
| Q1 25 | $2.10 | $1.03 | ||
| Q4 24 | — | $1.01 | ||
| Q3 24 | $2.68 | $1.03 | ||
| Q2 24 | $2.37 | $0.97 |
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 | $65.2B |
| 总资产 | $13.5B | $692.3B |
| 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LDOSUSB
| 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LDOSUSB
| 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LDOSUSB
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $65.2B | ||
| Q3 25 | $4.7B | $63.3B | ||
| Q2 25 | $4.3B | $61.4B | ||
| Q1 25 | $4.4B | $60.1B | ||
| Q4 24 | — | $58.6B | ||
| Q3 24 | $4.6B | $58.9B | ||
| Q2 24 | $4.5B | $56.4B |
总资产LDOSUSB
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $692.3B | ||
| Q3 25 | $13.5B | $695.4B | ||
| Q2 25 | $13.2B | $686.4B | ||
| Q1 25 | $13.1B | $676.5B | ||
| Q4 24 | — | $678.3B | ||
| Q3 24 | $13.3B | $686.5B | ||
| Q2 24 | $12.9B | $680.1B |
负债/权益比LDOSUSB
| 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 | $2.8B |
| 自由现金流经营现金流 - 资本支出 | $452.0M | — |
| 自由现金流率自由现金流/营收 | 10.8% | — |
| 资本支出强度资本支出/营收 | 1.0% | — |
| 现金转化率经营现金流/净利润 | 1.51× | 1.39× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流LDOSUSB
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $2.8B | ||
| Q3 25 | $711.0M | $3.4B | ||
| Q2 25 | $58.0M | $2.0B | ||
| Q1 25 | $299.0M | $-285.0M | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | $656.0M | $972.0M | ||
| Q2 24 | $374.0M | $2.9B |
自由现金流LDOSUSB
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $680.0M | — | ||
| Q2 25 | $36.0M | — | ||
| Q1 25 | $213.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $633.0M | — | ||
| Q2 24 | $351.0M | — |
自由现金流率LDOSUSB
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 4.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 15.2% | — | ||
| Q2 24 | 8.5% | — |
资本支出强度LDOSUSB
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 0.6% | — |
现金转化率LDOSUSB
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 1.39× | ||
| Q3 25 | 1.82× | 1.69× | ||
| Q2 25 | 0.16× | 1.12× | ||
| Q1 25 | 1.05× | -0.17× | ||
| Q4 24 | — | 2.87× | ||
| Q3 24 | 1.80× | 0.57× | ||
| Q2 24 | 1.16× | 1.79× |
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% |
USB
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