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Leidos（LDOS）与Williams Companies（WMB）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Williams Companies的1.1倍（$4.2B vs $3.8B），Williams Companies净利率更高（19.1% vs 7.8%，领先11.3%），Williams Companies同比增速更快（12.7% vs -3.5%），Leidos自由现金流更多（$452.0M vs $-379.0M），过去两年Williams Companies的营收复合增速更高（7.3% 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。
总部位于美国俄克拉荷马州塔尔萨的能源企业，位列《财富》美国500强，普通股为标普500指数成分股，核心业务为天然气加工与运输，同时持有石油、发电相关资产。
LDOS vs WMB — 直观对比
营收规模更大
LDOS
是对方的1.1倍
$3.8B
营收增速更快
WMB
高出16.2%
-3.5%
净利率更高
WMB
高出11.3%
7.8%
自由现金流更多
LDOS
多$831.0M
$-379.0M
两年增速更快
WMB
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $3.8B |
| 净利润 | $327.0M | $734.0M |
| 毛利率 | 17.4% | — |
| 营业利润率 | 11.3% | 27.3% |
| 净利率 | 7.8% | 19.1% |
| 营收同比 | -3.5% | 12.7% |
| 净利润同比 | 15.1% | 51.0% |
| 每股收益（稀释后） | $2.54 | $0.60 |
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LDOSWMB
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $3.8B | ||
| Q3 25 | $4.2B | $3.5B | ||
| Q2 25 | $4.2B | $3.4B | ||
| Q1 25 | $4.3B | $4.2B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | $4.2B | $3.0B | ||
| Q2 24 | $4.1B | $2.8B |
净利润LDOSWMB
| Q1 26 | $327.0M | — | ||
| Q4 25 | $367.0M | $734.0M | ||
| Q3 25 | $391.0M | $647.0M | ||
| Q2 25 | $363.0M | $546.0M | ||
| Q1 25 | $284.0M | $691.0M | ||
| Q4 24 | — | $486.0M | ||
| Q3 24 | $364.0M | $706.0M | ||
| Q2 24 | $322.0M | $401.0M |
毛利率LDOSWMB
| 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LDOSWMB
| Q1 26 | 11.3% | — | ||
| Q4 25 | 12.0% | 27.3% | ||
| Q3 25 | 13.5% | 31.8% | ||
| Q2 25 | 12.5% | 28.0% | ||
| Q1 25 | 9.7% | 26.1% | ||
| Q4 24 | — | 23.2% | ||
| Q3 24 | 12.4% | 27.6% | ||
| Q2 24 | 11.6% | 24.4% |
净利率LDOSWMB
| Q1 26 | 7.8% | — | ||
| Q4 25 | 8.2% | 19.1% | ||
| Q3 25 | 9.2% | 18.5% | ||
| Q2 25 | 8.6% | 16.2% | ||
| Q1 25 | 6.5% | 16.5% | ||
| Q4 24 | — | 14.2% | ||
| Q3 24 | 8.7% | 23.3% | ||
| Q2 24 | 7.8% | 14.1% |
每股收益（稀释后）LDOSWMB
| Q1 26 | $2.54 | — | ||
| Q4 25 | $2.82 | $0.60 | ||
| Q3 25 | $3.01 | $0.53 | ||
| Q2 25 | $2.77 | $0.45 | ||
| Q1 25 | $2.10 | $0.56 | ||
| Q4 24 | — | $0.39 | ||
| Q3 24 | $2.68 | $0.58 | ||
| Q2 24 | $2.37 | $0.33 |
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 | $27.3B |
| 股东权益账面价值 | $4.9B | $12.8B |
| 总资产 | $13.5B | $58.6B |
| 负债/权益比越低杠杆越低 | 0.94× | 2.13× |
8季度趋势，按日历期对齐
现金及短期投资LDOSWMB
| 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LDOSWMB
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.6B | $27.3B | ||
| Q3 25 | $5.0B | $25.6B | ||
| Q2 25 | $5.0B | $25.6B | ||
| Q1 25 | $4.1B | $24.1B | ||
| Q4 24 | — | $24.7B | ||
| Q3 24 | $4.1B | $24.8B | ||
| Q2 24 | $4.1B | $24.1B |
股东权益LDOSWMB
| Q1 26 | $4.9B | — | ||
| Q4 25 | $4.9B | $12.8B | ||
| Q3 25 | $4.7B | $12.5B | ||
| Q2 25 | $4.3B | $12.4B | ||
| Q1 25 | $4.4B | $12.5B | ||
| Q4 24 | — | $12.4B | ||
| Q3 24 | $4.6B | $12.4B | ||
| Q2 24 | $4.5B | $12.3B |
总资产LDOSWMB
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.5B | $58.6B | ||
| Q3 25 | $13.5B | $55.7B | ||
| Q2 25 | $13.2B | $56.1B | ||
| Q1 25 | $13.1B | $54.9B | ||
| Q4 24 | — | $54.5B | ||
| Q3 24 | $13.3B | $53.8B | ||
| Q2 24 | $12.9B | $52.4B |
负债/权益比LDOSWMB
| Q1 26 | 0.94× | — | ||
| Q4 25 | 0.94× | 2.13× | ||
| Q3 25 | 1.07× | 2.04× | ||
| Q2 25 | 1.18× | 2.06× | ||
| Q1 25 | 0.92× | 1.93× | ||
| Q4 24 | — | 1.99× | ||
| Q3 24 | 0.88× | 2.00× | ||
| Q2 24 | 0.92× | 1.96× |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $452.0M | $-379.0M |
| 自由现金流率自由现金流/营收 | 10.8% | -9.9% |
| 资本支出强度资本支出/营收 | 1.0% | 50.9% |
| 现金转化率经营现金流/净利润 | 1.51× | 2.15× |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流LDOSWMB
| Q1 26 | $495.0M | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $711.0M | $1.4B | ||
| Q2 25 | $58.0M | $1.4B | ||
| Q1 25 | $299.0M | $1.4B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $656.0M | $1.2B | ||
| Q2 24 | $374.0M | $1.3B |
自由现金流LDOSWMB
| Q1 26 | $452.0M | — | ||
| Q4 25 | — | $-379.0M | ||
| Q3 25 | $680.0M | $485.0M | ||
| Q2 25 | $36.0M | $478.0M | ||
| Q1 25 | $213.0M | $421.0M | ||
| Q4 24 | — | $450.0M | ||
| Q3 24 | $633.0M | $561.0M | ||
| Q2 24 | $351.0M | $700.0M |
自由现金流率LDOSWMB
| Q1 26 | 10.8% | — | ||
| Q4 25 | — | -9.9% | ||
| Q3 25 | 16.1% | 13.9% | ||
| Q2 25 | 0.9% | 14.2% | ||
| Q1 25 | 4.9% | 10.1% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | 15.2% | 18.5% | ||
| Q2 24 | 8.5% | 24.6% |
资本支出强度LDOSWMB
| Q1 26 | 1.0% | — | ||
| Q4 25 | — | 50.9% | ||
| Q3 25 | 0.7% | 27.3% | ||
| Q2 25 | 0.5% | 28.8% | ||
| Q1 25 | 2.0% | 24.2% | ||
| Q4 24 | — | 22.5% | ||
| Q3 24 | 0.6% | 22.5% | ||
| Q2 24 | 0.6% | 20.3% |
现金转化率LDOSWMB
| Q1 26 | 1.51× | — | ||
| Q4 25 | — | 2.15× | ||
| Q3 25 | 1.82× | 2.22× | ||
| Q2 25 | 0.16× | 2.66× | ||
| Q1 25 | 1.05× | 2.07× | ||
| Q4 24 | — | 2.51× | ||
| Q3 24 | 1.80× | 1.76× | ||
| Q2 24 | 1.16× | 3.19× |
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% |
WMB
| Services | $2.2B | 57% |
| Natural Gas Us Regulated | $740.0M | 19% |
| West | $730.0M | 19% |
| Non Regulated Service Commodity Consideration | $51.0M | 1% |
| Natural Gas Gathering Transportation Marketing And Processing | $45.0M | 1% |
| Affiliated Entity | $23.0M | 1% |
| Other | $14.0M | 0% |
| Other Service | $11.0M | 0% |
