vs
Leidos（LDOS）与福泰制药（VRTX）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是福泰制药的1.3倍（$4.2B vs $3.2B），福泰制药净利率更高（37.3% vs 7.8%，领先29.5%），福泰制药同比增速更快（9.5% vs -3.5%），Leidos自由现金流更多（$452.0M vs $348.6M），过去两年福泰制药的营收复合增速更高（8.9% 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。
福泰制药是总部位于美国马萨诸塞州波士顿的生物制药企业，是全球首批明确采用理性药物设计策略、而非组合化学方法开发药物的生物技术公司之一。除波士顿总部外，公司还在加州圣迭戈、英国牛津郡米尔顿公园设有三处研发中心。
LDOS vs VRTX — 直观对比
营收规模更大
LDOS
是对方的1.3倍
$3.2B
营收增速更快
VRTX
高出13.0%
-3.5%
净利率更高
VRTX
高出29.5%
7.8%
自由现金流更多
LDOS
多$103.4M
$348.6M
两年增速更快
VRTX
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $3.2B |
| 净利润 | $327.0M | $1.2B |
| 毛利率 | 17.4% | 85.4% |
| 营业利润率 | 11.3% | 37.8% |
| 净利率 | 7.8% | 37.3% |
| 营收同比 | -3.5% | 9.5% |
| 净利润同比 | 15.1% | 30.5% |
| 每股收益（稀释后） | $2.54 | $4.64 |
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LDOSVRTX
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $3.2B | ||
| Q3 25 | $4.2B | $3.1B | ||
| Q2 25 | $4.2B | $3.0B | ||
| Q1 25 | $4.3B | $2.8B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $4.2B | $2.8B | ||
| Q2 24 | $4.1B | $2.6B |
净利润LDOSVRTX
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $1.2B | ||
| Q3 25 | $391.0M | $1.1B | ||
| Q2 25 | $363.0M | $1.0B | ||
| Q1 25 | $284.0M | $646.3M | ||
| Q4 24 | — | $913.0M | ||
| Q3 24 | $364.0M | $1.0B | ||
| Q2 24 | $322.0M | $-3.6B |
毛利率LDOSVRTX
| Q1 26 | 17.4% | — | ||
| Q4 25 | 18.0% | 85.4% | ||
| Q3 25 | 18.0% | 86.5% | ||
| Q2 25 | 17.5% | 86.3% | ||
| Q1 25 | 15.6% | 86.9% | ||
| Q4 24 | — | 85.5% | ||
| Q3 24 | 17.8% | 85.8% | ||
| Q2 24 | 16.6% | 85.9% |
营业利润率LDOSVRTX
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 37.8% | ||
| Q3 25 | 13.5% | 38.6% | ||
| Q2 25 | 12.5% | 38.8% | ||
| Q1 25 | 9.7% | 22.7% | ||
| Q4 24 | — | 35.2% | ||
| Q3 24 | 12.4% | 40.3% | ||
| Q2 24 | 11.6% | -132.9% |
净利率LDOSVRTX
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 37.3% | ||
| Q3 25 | 9.2% | 35.2% | ||
| Q2 25 | 8.6% | 34.8% | ||
| Q1 25 | 6.5% | 23.3% | ||
| Q4 24 | — | 31.4% | ||
| Q3 24 | 8.7% | 37.7% | ||
| Q2 24 | 7.8% | -135.8% |
每股收益（稀释后）LDOSVRTX
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $4.64 | ||
| Q3 25 | $3.01 | $4.20 | ||
| Q2 25 | $2.77 | $3.99 | ||
| Q1 25 | $2.10 | $2.49 | ||
| Q4 24 | — | $3.62 | ||
| Q3 24 | $2.68 | $4.01 | ||
| Q2 24 | $2.37 | $-13.92 |
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 | $6.6B |
| 总债务越低越好 | $4.6B | — |
| 股东权益账面价值 | $4.9B | $18.7B |
| 总资产 | $13.5B | $25.6B |
| 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LDOSVRTX
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | $6.6B | ||
| Q3 25 | $930.0M | $6.3B | ||
| Q2 25 | $842.0M | $6.4B | ||
| Q1 25 | $943.0M | $6.2B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | $1.2B | $6.5B | ||
| Q2 24 | $823.0M | $5.8B |
总债务LDOSVRTX
| 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LDOSVRTX
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $18.7B | ||
| Q3 25 | $4.7B | $17.3B | ||
| Q2 25 | $4.3B | $17.2B | ||
| Q1 25 | $4.4B | $16.5B | ||
| Q4 24 | — | $16.4B | ||
| Q3 24 | $4.6B | $15.6B | ||
| Q2 24 | $4.5B | $14.8B |
总资产LDOSVRTX
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $25.6B | ||
| Q3 25 | $13.5B | $24.9B | ||
| Q2 25 | $13.2B | $24.0B | ||
| Q1 25 | $13.1B | $22.9B | ||
| Q4 24 | — | $22.5B | ||
| Q3 24 | $13.3B | $22.2B | ||
| Q2 24 | $12.9B | $20.1B |
负债/权益比LDOSVRTX
| 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 | $498.0M |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $348.6M |
| 自由现金流率自由现金流/营收 | 10.8% | 10.9% |
| 资本支出强度资本支出/营收 | 1.0% | 4.7% |
| 现金转化率经营现金流/净利润 | 1.51× | 0.42× |
| 过去12个月自由现金流最近4个季度 | — | $3.2B |
8季度趋势，按日历期对齐
经营现金流LDOSVRTX
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $498.0M | ||
| Q3 25 | $711.0M | $1.2B | ||
| Q2 25 | $58.0M | $1.1B | ||
| Q1 25 | $299.0M | $818.9M | ||
| Q4 24 | — | $584.6M | ||
| Q3 24 | $656.0M | $1.4B | ||
| Q2 24 | $374.0M | $-3.8B |
自由现金流LDOSVRTX
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $348.6M | ||
| Q3 25 | $680.0M | $1.1B | ||
| Q2 25 | $36.0M | $927.4M | ||
| Q1 25 | $213.0M | $778.2M | ||
| Q4 24 | — | $492.0M | ||
| Q3 24 | $633.0M | $1.3B | ||
| Q2 24 | $351.0M | $-3.8B |
自由现金流率LDOSVRTX
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | 10.9% | ||
| Q3 25 | 16.1% | 37.0% | ||
| Q2 25 | 0.9% | 31.3% | ||
| Q1 25 | 4.9% | 28.1% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | 15.2% | 47.0% | ||
| Q2 24 | 8.5% | -144.5% |
资本支出强度LDOSVRTX
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 4.7% | ||
| Q3 25 | 0.7% | 3.3% | ||
| Q2 25 | 0.5% | 4.9% | ||
| Q1 25 | 2.0% | 1.5% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | 0.6% | 2.4% | ||
| Q2 24 | 0.6% | 2.6% |
现金转化率LDOSVRTX
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | 1.82× | 1.15× | ||
| Q2 25 | 0.16× | 1.04× | ||
| Q1 25 | 1.05× | 1.27× | ||
| Q4 24 | — | 0.64× | ||
| Q3 24 | 1.80× | 1.31× | ||
| Q2 24 | 1.16× | — |
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% |
VRTX
| TRIKAFTAKAFTRIO | $2.6B | 81% |
| ALYFTREK | $380.1M | 12% |
| Manufactured Product Other | $237.4M | 7% |
