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Leidos（LDOS）与维谛技术（VRT）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是维谛技术的1.6倍（$4.2B vs $2.6B），维谛技术净利率更高（14.7% vs 7.8%，领先6.9%），维谛技术同比增速更快（30.1% vs -3.5%），维谛技术自由现金流更多（$652.8M vs $452.0M），过去两年维谛技术的营收复合增速更高（16.5% 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。
维谛技术（Vertiv）是一家美国跨国企业，专注于为数据中心、通信网络、商业及工业场景提供关键基础设施及配套服务，旗下方案可有效保障各行业客户关键业务系统的稳定高效运行。
LDOS vs VRT — 直观对比
营收规模更大
LDOS
是对方的1.6倍
$2.6B
营收增速更快
VRT
高出33.6%
-3.5%
净利率更高
VRT
高出6.9%
7.8%
自由现金流更多
VRT
多$200.8M
$452.0M
两年增速更快
VRT
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $2.6B |
| 净利润 | $327.0M | $390.1M |
| 毛利率 | 17.4% | 37.7% |
| 营业利润率 | 11.3% | — |
| 净利率 | 7.8% | 14.7% |
| 营收同比 | -3.5% | 30.1% |
| 净利润同比 | 15.1% | — |
| 每股收益（稀释后） | $2.54 | $0.99 |
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LDOSVRT
| Q1 26 | $4.2B | $2.6B | ||
| Q4 25 | $4.4B | $2.9B | ||
| Q3 25 | $4.2B | $2.7B | ||
| Q2 25 | $4.2B | $2.6B | ||
| Q1 25 | $4.3B | $2.0B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | $4.2B | $2.1B | ||
| Q2 24 | $4.1B | $2.0B |
净利润LDOSVRT
| Q1 26 | $327.0M | $390.1M | ||
| Q4 25 | $367.0M | $445.6M | ||
| Q3 25 | $391.0M | $398.5M | ||
| Q2 25 | $363.0M | $324.2M | ||
| Q1 25 | $284.0M | $164.5M | ||
| Q4 24 | — | $147.0M | ||
| Q3 24 | $364.0M | $176.6M | ||
| Q2 24 | $322.0M | $178.1M |
毛利率LDOSVRT
| Q1 26 | 17.4% | 37.7% | ||
| Q4 25 | 18.0% | 38.9% | ||
| Q3 25 | 18.0% | 37.8% | ||
| Q2 25 | 17.5% | 34.0% | ||
| Q1 25 | 15.6% | 33.7% | ||
| Q4 24 | — | 37.1% | ||
| Q3 24 | 17.8% | 36.5% | ||
| Q2 24 | 16.6% | 38.0% |
营业利润率LDOSVRT
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 20.1% | ||
| Q3 25 | 13.5% | 19.3% | ||
| Q2 25 | 12.5% | 16.8% | ||
| Q1 25 | 9.7% | 14.3% | ||
| Q4 24 | — | 19.5% | ||
| Q3 24 | 12.4% | 17.9% | ||
| Q2 24 | 11.6% | 17.2% |
净利率LDOSVRT
| Q1 26 | 7.8% | 14.7% | ||
| Q4 25 | 8.2% | 15.5% | ||
| Q3 25 | 9.2% | 14.9% | ||
| Q2 25 | 8.6% | 12.3% | ||
| Q1 25 | 6.5% | 8.1% | ||
| Q4 24 | — | 6.3% | ||
| Q3 24 | 8.7% | 8.5% | ||
| Q2 24 | 7.8% | 9.1% |
每股收益（稀释后）LDOSVRT
| Q1 26 | $2.54 | $0.99 | ||
| Q4 25 | $2.82 | $1.14 | ||
| Q3 25 | $3.01 | $1.02 | ||
| Q2 25 | $2.77 | $0.83 | ||
| Q1 25 | $2.10 | $0.42 | ||
| Q4 24 | — | $0.38 | ||
| Q3 24 | $2.68 | $0.46 | ||
| Q2 24 | $2.37 | $0.46 |
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 | $2.5B |
| 总债务越低越好 | $4.6B | $0 |
| 股东权益账面价值 | $4.9B | $4.2B |
| 总资产 | $13.5B | $13.4B |
| 负债/权益比越低杠杆越低 | 0.94× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资LDOSVRT
| Q1 26 | $1.1B | $2.5B | ||
| Q4 25 | $974.0M | $1.7B | ||
| Q3 25 | $930.0M | $1.4B | ||
| Q2 25 | $842.0M | $1.6B | ||
| Q1 25 | $943.0M | $1.5B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $1.2B | $908.7M | ||
| Q2 24 | $823.0M | $579.7M |
总债务LDOSVRT
| Q1 26 | $4.6B | $0 | ||
| Q4 25 | $4.6B | $2.9B | ||
| Q3 25 | $5.0B | $2.9B | ||
| Q2 25 | $5.0B | $2.9B | ||
| Q1 25 | $4.1B | $2.9B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $4.1B | $2.9B | ||
| Q2 24 | $4.1B | $2.9B |
股东权益LDOSVRT
| Q1 26 | $4.9B | $4.2B | ||
| Q4 25 | $4.9B | $3.9B | ||
| Q3 25 | $4.7B | $3.5B | ||
| Q2 25 | $4.3B | $3.1B | ||
| Q1 25 | $4.4B | $2.7B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $4.6B | $1.8B | ||
| Q2 24 | $4.5B | $1.5B |
总资产LDOSVRT
| Q1 26 | $13.5B | $13.4B | ||
| Q4 25 | $13.5B | $12.2B | ||
| Q3 25 | $13.5B | $10.8B | ||
| Q2 25 | $13.2B | $10.4B | ||
| Q1 25 | $13.1B | $9.5B | ||
| Q4 24 | — | $9.1B | ||
| Q3 24 | $13.3B | $8.9B | ||
| Q2 24 | $12.9B | $8.1B |
负债/权益比LDOSVRT
| Q1 26 | 0.94× | 0.00× | ||
| Q4 25 | 0.94× | 0.74× | ||
| Q3 25 | 1.07× | 0.83× | ||
| Q2 25 | 1.18× | 0.93× | ||
| Q1 25 | 0.92× | 1.10× | ||
| Q4 24 | — | 1.20× | ||
| Q3 24 | 0.88× | 1.62× | ||
| Q2 24 | 0.92× | 1.91× |
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 | $652.8M |
| 自由现金流率自由现金流/营收 | 10.8% | 24.6% |
| 资本支出强度资本支出/营收 | 1.0% | 4.2% |
| 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 | — | $2.3B |
8季度趋势，按日历期对齐
经营现金流LDOSVRT
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $978.9M | ||
| Q3 25 | $711.0M | $508.7M | ||
| Q2 25 | $58.0M | $322.9M | ||
| Q1 25 | $299.0M | $303.3M | ||
| Q4 24 | — | $425.2M | ||
| Q3 24 | $656.0M | $378.2M | ||
| Q2 24 | $374.0M | $378.4M |
自由现金流LDOSVRT
| Q1 26 | $452.0M | $652.8M | ||
| Q4 25 | — | $885.6M | ||
| Q3 25 | $680.0M | $463.5M | ||
| Q2 25 | $36.0M | $277.9M | ||
| Q1 25 | $213.0M | $266.8M | ||
| Q4 24 | — | $364.5M | ||
| Q3 24 | $633.0M | $341.8M | ||
| Q2 24 | $351.0M | $344.3M |
自由现金流率LDOSVRT
| Q1 26 | 10.8% | 24.6% | ||
| Q4 25 | — | 30.8% | ||
| Q3 25 | 16.1% | 17.3% | ||
| Q2 25 | 0.9% | 10.5% | ||
| Q1 25 | 4.9% | 13.1% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | 15.2% | 16.5% | ||
| Q2 24 | 8.5% | 17.6% |
资本支出强度LDOSVRT
| Q1 26 | 1.0% | 4.2% | ||
| Q4 25 | — | 3.2% | ||
| Q3 25 | 0.7% | 1.7% | ||
| Q2 25 | 0.5% | 1.7% | ||
| Q1 25 | 2.0% | 1.8% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 0.6% | 1.8% | ||
| Q2 24 | 0.6% | 1.7% |
现金转化率LDOSVRT
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 2.20× | ||
| Q3 25 | 1.82× | 1.28× | ||
| Q2 25 | 0.16× | 1.00× | ||
| Q1 25 | 1.05× | 1.84× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | 1.80× | 2.14× | ||
| Q2 24 | 1.16× | 2.12× |
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% |
VRT
暂无分部数据
