vs
Leidos（LDOS）与惠而浦（WHR）财务数据对比。点击上方公司名可切换其他公司
Leidos的季度营收约是惠而浦的1.0倍（$4.2B vs $4.1B），Leidos净利率更高（7.8% vs 2.7%，领先5.1%），惠而浦同比增速更快（-0.9% vs -3.5%），惠而浦自由现金流更多（$989.0M vs $452.0M），过去两年Leidos的营收复合增速更高（3.1% vs -4.5%）
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。
惠而浦是总部位于美国密歇根州本顿特许镇的跨国家电研发、生产及销售企业，位列《财富》世界500强。2023年集团年销售额约190亿美元，全球员工规模近5.9万人，在世界各地布局超55座生产及技术研发中心。
LDOS vs WHR — 直观对比
营收规模更大
LDOS
是对方的1.0倍
$4.1B
营收增速更快
WHR
高出2.6%
-3.5%
净利率更高
LDOS
高出5.1%
2.7%
自由现金流更多
WHR
多$537.0M
$452.0M
两年增速更快
LDOS
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $4.1B |
| 净利润 | $327.0M | $109.0M |
| 毛利率 | 17.4% | 14.0% |
| 营业利润率 | 11.3% | 6.0% |
| 净利率 | 7.8% | 2.7% |
| 营收同比 | -3.5% | -0.9% |
| 净利润同比 | 15.1% | 127.8% |
| 每股收益（稀释后） | $2.54 | $1.92 |
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LDOSWHR
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $4.1B | ||
| Q3 25 | $4.2B | $4.0B | ||
| Q2 25 | $4.2B | $3.8B | ||
| Q1 25 | $4.3B | $3.6B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | $4.2B | $4.0B | ||
| Q2 24 | $4.1B | $4.0B |
净利润LDOSWHR
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $109.0M | ||
| Q3 25 | $391.0M | $73.0M | ||
| Q2 25 | $363.0M | $65.0M | ||
| Q1 25 | $284.0M | $71.0M | ||
| Q4 24 | — | $-392.0M | ||
| Q3 24 | $364.0M | $109.0M | ||
| Q2 24 | $322.0M | $219.0M |
毛利率LDOSWHR
| Q1 26 | 17.4% | — | ||
| Q4 25 | 18.0% | 14.0% | ||
| Q3 25 | 18.0% | 14.7% | ||
| Q2 25 | 17.5% | 16.2% | ||
| Q1 25 | 15.6% | 16.8% | ||
| Q4 24 | — | 16.2% | ||
| Q3 24 | 17.8% | 16.1% | ||
| Q2 24 | 16.6% | 15.7% |
营业利润率LDOSWHR
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 6.0% | ||
| Q3 25 | 13.5% | 5.1% | ||
| Q2 25 | 12.5% | 5.4% | ||
| Q1 25 | 9.7% | 5.1% | ||
| Q4 24 | — | -3.3% | ||
| Q3 24 | 12.4% | 6.6% | ||
| Q2 24 | 11.6% | 3.3% |
净利率LDOSWHR
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 2.7% | ||
| Q3 25 | 9.2% | 1.8% | ||
| Q2 25 | 8.6% | 1.7% | ||
| Q1 25 | 6.5% | 2.0% | ||
| Q4 24 | — | -9.5% | ||
| Q3 24 | 8.7% | 2.7% | ||
| Q2 24 | 7.8% | 5.5% |
每股收益（稀释后）LDOSWHR
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $1.92 | ||
| Q3 25 | $3.01 | $1.29 | ||
| Q2 25 | $2.77 | $1.17 | ||
| Q1 25 | $2.10 | $1.28 | ||
| Q4 24 | — | $-7.11 | ||
| Q3 24 | $2.68 | $2.00 | ||
| Q2 24 | $2.37 | $3.96 |
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 | $669.0M |
| 总债务越低越好 | $4.6B | $6.2B |
| 股东权益账面价值 | $4.9B | $2.7B |
| 总资产 | $13.5B | $16.0B |
| 负债/权益比越低杠杆越低 | 0.94× | 2.26× |
8季度趋势，按日历期对齐
现金及短期投资LDOSWHR
| Q1 26 | $1.1B | — | ||
| Q4 25 | $974.0M | $669.0M | ||
| Q3 25 | $930.0M | $934.0M | ||
| Q2 25 | $842.0M | $1.1B | ||
| Q1 25 | $943.0M | $1.0B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $823.0M | $1.2B |
总债务LDOSWHR
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.6B | $6.2B | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
股东权益LDOSWHR
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $2.7B | ||
| Q3 25 | $4.7B | $2.6B | ||
| Q2 25 | $4.3B | $2.6B | ||
| Q1 25 | $4.4B | $2.6B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | $4.6B | $3.0B | ||
| Q2 24 | $4.5B | $3.1B |
总资产LDOSWHR
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $16.0B | ||
| Q3 25 | $13.5B | $16.9B | ||
| Q2 25 | $13.2B | $16.8B | ||
| Q1 25 | $13.1B | $16.5B | ||
| Q4 24 | — | $16.3B | ||
| Q3 24 | $13.3B | $17.2B | ||
| Q2 24 | $12.9B | $17.3B |
负债/权益比LDOSWHR
| Q1 26 | 0.94× | — | ||
| Q4 25 | 0.94× | 2.26× | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 1.18× | — | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | — | 2.46× | ||
| 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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $989.0M |
| 自由现金流率自由现金流/营收 | 10.8% | 24.1% |
| 资本支出强度资本支出/营收 | 1.0% | 3.7% |
| 现金转化率经营现金流/净利润 | 1.51× | 10.45× |
| 过去12个月自由现金流最近4个季度 | — | $81.0M |
8季度趋势，按日历期对齐
经营现金流LDOSWHR
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $711.0M | $33.0M | ||
| Q2 25 | $58.0M | $19.0M | ||
| Q1 25 | $299.0M | $-721.0M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $656.0M | $214.0M | ||
| Q2 24 | $374.0M | $388.0M |
自由现金流LDOSWHR
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $989.0M | ||
| Q3 25 | $680.0M | $-52.0M | ||
| Q2 25 | $36.0M | $-63.0M | ||
| Q1 25 | $213.0M | $-793.0M | ||
| Q4 24 | — | $970.0M | ||
| Q3 24 | $633.0M | $127.0M | ||
| Q2 24 | $351.0M | $275.0M |
自由现金流率LDOSWHR
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | 24.1% | ||
| Q3 25 | 16.1% | -1.3% | ||
| Q2 25 | 0.9% | -1.7% | ||
| Q1 25 | 4.9% | -21.9% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | 15.2% | 3.2% | ||
| Q2 24 | 8.5% | 6.9% |
资本支出强度LDOSWHR
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 3.7% | ||
| Q3 25 | 0.7% | 2.1% | ||
| Q2 25 | 0.5% | 2.2% | ||
| Q1 25 | 2.0% | 2.0% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | 0.6% | 2.2% | ||
| Q2 24 | 0.6% | 2.8% |
现金转化率LDOSWHR
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 10.45× | ||
| Q3 25 | 1.82× | 0.45× | ||
| Q2 25 | 0.16× | 0.29× | ||
| Q1 25 | 1.05× | -10.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.80× | 1.96× | ||
| Q2 24 | 1.16× | 1.77× |
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% |
WHR
| Refrigeration | $1.2B | 30% |
| Laundry | $1.1B | 27% |
| Cooking | $1.1B | 26% |
| Dishwashing | $299.0M | 7% |
| Other | $266.0M | 6% |
| Spare Parts And Warranties | $139.0M | 3% |
