vs
林肯电气（LECO）与NN INC（NNBR）财务数据对比。点击上方公司名可切换其他公司
林肯电气的季度营收约是NN INC的10.3倍（$1.1B vs $104.7M）。林肯电气净利率更高（12.6% vs -12.0%，领先24.6%）。林肯电气同比增速更快（5.5% vs -1.7%）。林肯电气自由现金流更多（$52.0M vs $-3.3M）。过去两年林肯电气的营收复合增速更高（4.9% vs -7.0%）
林肯电气是美国跨国焊接产品制造企业，总部位于俄亥俄州欧几里得市，主营弧焊设备、焊接配件、等离子及氧燃料切割设备、焊接机器人系统等，业务覆盖160余个国家和地区，在全球设有42个生产基地，同时在19个国家布局了生产联盟及合资企业。
NN集团是NN投资伙伴与荷兰国家保险的母公司，旗下荷兰国家保险是荷兰规模最大的保险与资产管理机构之一。集团总部设于荷兰海牙，鹿特丹办事处坐落于代尔夫特门大厦，该大厦2009年之前一直是荷兰最高摩天楼，除此之外集团在荷兰埃德也设有办事处。
LECO vs NNBR — 直观对比
营收规模更大
LECO
是对方的10.3倍
$104.7M
营收增速更快
LECO
高出7.2%
-1.7%
净利率更高
LECO
高出24.6%
-12.0%
自由现金流更多
LECO
多$55.3M
$-3.3M
两年增速更快
LECO
近两年复合增速
-7.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $104.7M |
| 净利润 | $136.0M | $-12.5M |
| 毛利率 | 34.7% | — |
| 营业利润率 | 17.1% | -9.9% |
| 净利率 | 12.6% | -12.0% |
| 营收同比 | 5.5% | -1.7% |
| 净利润同比 | -3.0% | 40.2% |
| 每股收益（稀释后） | $2.45 | $-0.35 |
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LECONNBR
| Q4 25 | $1.1B | $104.7M | ||
| Q3 25 | $1.1B | $103.9M | ||
| Q2 25 | $1.1B | $107.9M | ||
| Q1 25 | $1.0B | $105.7M | ||
| Q4 24 | $1.0B | $106.5M | ||
| Q3 24 | $983.8M | $113.6M | ||
| Q2 24 | $1.0B | $123.0M | ||
| Q1 24 | $981.2M | $121.2M |
净利润LECONNBR
| Q4 25 | $136.0M | $-12.5M | ||
| Q3 25 | $122.6M | $-6.7M | ||
| Q2 25 | $143.4M | $-8.1M | ||
| Q1 25 | $118.5M | $-6.7M | ||
| Q4 24 | $140.2M | $-21.0M | ||
| Q3 24 | $100.8M | $-2.6M | ||
| Q2 24 | $101.7M | $-2.2M | ||
| Q1 24 | $123.4M | $-12.5M |
毛利率LECONNBR
| Q4 25 | 34.7% | — | ||
| Q3 25 | 36.7% | — | ||
| Q2 25 | 37.3% | — | ||
| Q1 25 | 36.4% | — | ||
| Q4 24 | 36.1% | — | ||
| Q3 24 | 35.8% | — | ||
| Q2 24 | 37.6% | — | ||
| Q1 24 | 37.5% | — |
营业利润率LECONNBR
| Q4 25 | 17.1% | -9.9% | ||
| Q3 25 | 16.6% | -2.2% | ||
| Q2 25 | 17.6% | -1.4% | ||
| Q1 25 | 16.4% | -4.5% | ||
| Q4 24 | 17.3% | -15.8% | ||
| Q3 24 | 14.8% | -3.3% | ||
| Q2 24 | 14.6% | -1.7% | ||
| Q1 24 | 16.8% | -3.9% |
净利率LECONNBR
| Q4 25 | 12.6% | -12.0% | ||
| Q3 25 | 11.6% | -6.4% | ||
| Q2 25 | 13.2% | -7.5% | ||
| Q1 25 | 11.8% | -6.3% | ||
| Q4 24 | 13.7% | -19.7% | ||
| Q3 24 | 10.2% | -2.3% | ||
| Q2 24 | 10.0% | -1.8% | ||
| Q1 24 | 12.6% | -10.3% |
每股收益（稀释后）LECONNBR
| Q4 25 | $2.45 | $-0.35 | ||
| Q3 25 | $2.21 | $-0.23 | ||
| Q2 25 | $2.56 | $-0.26 | ||
| Q1 25 | $2.10 | $-0.23 | ||
| Q4 24 | $2.47 | $-0.52 | ||
| Q3 24 | $1.77 | $-0.13 | ||
| Q2 24 | $1.77 | $-0.12 | ||
| Q1 24 | $2.14 | $-0.34 |
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 | $308.8M | $11.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $34.0M |
| 总资产 | $3.8B | $440.8M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LECONNBR
| Q4 25 | $308.8M | $11.4M | ||
| Q3 25 | $293.0M | $12.2M | ||
| Q2 25 | $299.5M | $9.5M | ||
| Q1 25 | $394.7M | $11.7M | ||
| Q4 24 | $377.3M | $18.1M | ||
| Q3 24 | $404.2M | $12.4M | ||
| Q2 24 | $272.7M | $13.7M | ||
| Q1 24 | $375.0M | $20.6M |
股东权益LECONNBR
| Q4 25 | $1.5B | $34.0M | ||
| Q3 25 | $1.4B | $49.6M | ||
| Q2 25 | $1.4B | $59.5M | ||
| Q1 25 | $1.3B | $67.3M | ||
| Q4 24 | $1.3B | $74.5M | ||
| Q3 24 | $1.3B | $106.6M | ||
| Q2 24 | $1.3B | $108.4M | ||
| Q1 24 | $1.3B | $116.1M |
总资产LECONNBR
| Q4 25 | $3.8B | $440.8M | ||
| Q3 25 | $3.8B | $451.0M | ||
| Q2 25 | $3.7B | $460.8M | ||
| Q1 25 | $3.6B | $460.7M | ||
| Q4 24 | $3.5B | $456.9M | ||
| Q3 24 | $3.7B | $483.1M | ||
| Q2 24 | $3.4B | $497.2M | ||
| Q1 24 | $3.4B | $512.8M |
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 | $95.0M | $-1.5M |
| 自由现金流经营现金流 - 资本支出 | $52.0M | $-3.3M |
| 自由现金流率自由现金流/营收 | 4.8% | -3.2% |
| 资本支出强度资本支出/营收 | 4.0% | 1.8% |
| 现金转化率经营现金流/净利润 | 0.70× | — |
| 过去12个月自由现金流最近4个季度 | $534.2M | $-7.2M |
8季度趋势，按日历期对齐
经营现金流LECONNBR
| Q4 25 | $95.0M | $-1.5M | ||
| Q3 25 | $236.7M | $11.2M | ||
| Q2 25 | $143.8M | $-696.0K | ||
| Q1 25 | $185.7M | $-3.3M | ||
| Q4 24 | $95.8M | $6.7M | ||
| Q3 24 | $199.2M | $5.0M | ||
| Q2 24 | $170.7M | $-1.3M | ||
| Q1 24 | $133.3M | $712.0K |
自由现金流LECONNBR
| Q4 25 | $52.0M | $-3.3M | ||
| Q3 25 | $205.1M | $7.7M | ||
| Q2 25 | $118.4M | $-4.4M | ||
| Q1 25 | $158.7M | $-7.3M | ||
| Q4 24 | $64.3M | $3.7M | ||
| Q3 24 | $163.5M | $-1.3M | ||
| Q2 24 | $147.5M | $-4.9M | ||
| Q1 24 | $107.0M | $-4.7M |
自由现金流率LECONNBR
| Q4 25 | 4.8% | -3.2% | ||
| Q3 25 | 19.3% | 7.4% | ||
| Q2 25 | 10.9% | -4.1% | ||
| Q1 25 | 15.8% | -6.9% | ||
| Q4 24 | 6.3% | 3.5% | ||
| Q3 24 | 16.6% | -1.2% | ||
| Q2 24 | 14.4% | -4.0% | ||
| Q1 24 | 10.9% | -3.9% |
资本支出强度LECONNBR
| Q4 25 | 4.0% | 1.8% | ||
| Q3 25 | 3.0% | 3.3% | ||
| Q2 25 | 2.3% | 3.4% | ||
| Q1 25 | 2.7% | 3.7% | ||
| Q4 24 | 3.1% | 2.8% | ||
| Q3 24 | 3.6% | 5.5% | ||
| Q2 24 | 2.3% | 2.9% | ||
| Q1 24 | 2.7% | 4.5% |
现金转化率LECONNBR
| Q4 25 | 0.70× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 1.00× | — | ||
| Q1 25 | 1.57× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 1.98× | — | ||
| Q2 24 | 1.68× | — | ||
| Q1 24 | 1.08× | — |
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
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
NNBR
| Automotive | $53.1M | 51% |
| Power Solutions | $45.5M | 43% |
| Other End Market | $4.7M | 4% |
