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林肯电气（LECO）与UNIFIRST CORP（UNF）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UNIFIRST CORP的1.7倍（$1.1B vs $621.3M），林肯电气净利率更高（12.6% vs 5.5%，领先7.1%），林肯电气同比增速更快（5.5% vs 2.7%），林肯电气自由现金流更多（$52.0M vs $-24.0M），过去两年林肯电气的营收复合增速更高（4.9% vs 2.3%）
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。
UniFirst是总部位于美国马萨诸塞州威尔明顿的职业工装租赁服务商，业务覆盖工装及防护服装的生产、销售与租赁。公司拥有超过1.4万名员工，在美、加、欧设有260多处运营网点，涵盖客服中心、核净化设施、洁净车间、配送中心及生产工厂。
LECO vs UNF — 直观对比
营收规模更大
LECO
是对方的1.7倍
$621.3M
营收增速更快
LECO
高出2.8%
2.7%
净利率更高
LECO
高出7.1%
5.5%
自由现金流更多
LECO
多$76.1M
$-24.0M
两年增速更快
LECO
近两年复合增速
2.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $621.3M |
| 净利润 | $136.0M | $34.4M |
| 毛利率 | 34.7% | 36.7% |
| 营业利润率 | 17.1% | 7.3% |
| 净利率 | 12.6% | 5.5% |
| 营收同比 | 5.5% | 2.7% |
| 净利润同比 | -3.0% | -20.3% |
| 每股收益（稀释后） | $2.45 | $1.89 |
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LECOUNF
| Q4 25 | $1.1B | $621.3M | ||
| Q3 25 | $1.1B | $614.4M | ||
| Q2 25 | $1.1B | $610.8M | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | $604.9M | ||
| Q3 24 | $983.8M | $639.9M | ||
| Q2 24 | $1.0B | $603.3M | ||
| Q1 24 | $981.2M | $590.7M |
净利润LECOUNF
| Q4 25 | $136.0M | $34.4M | ||
| Q3 25 | $122.6M | $41.0M | ||
| Q2 25 | $143.4M | $39.7M | ||
| Q1 25 | $118.5M | — | ||
| Q4 24 | $140.2M | $43.1M | ||
| Q3 24 | $100.8M | $44.6M | ||
| Q2 24 | $101.7M | $38.1M | ||
| Q1 24 | $123.4M | $20.5M |
毛利率LECOUNF
| Q4 25 | 34.7% | 36.7% | ||
| Q3 25 | 36.7% | 37.8% | ||
| Q2 25 | 37.3% | 36.9% | ||
| Q1 25 | 36.4% | — | ||
| Q4 24 | 36.1% | 37.0% | ||
| Q3 24 | 35.8% | 36.1% | ||
| Q2 24 | 37.6% | 35.2% | ||
| Q1 24 | 37.5% | 32.9% |
营业利润率LECOUNF
| Q4 25 | 17.1% | 7.3% | ||
| Q3 25 | 16.6% | 8.1% | ||
| Q2 25 | 17.6% | 7.9% | ||
| Q1 25 | 16.4% | — | ||
| Q4 24 | 17.3% | 9.2% | ||
| Q3 24 | 14.8% | 8.4% | ||
| Q2 24 | 14.6% | 8.0% | ||
| Q1 24 | 16.8% | 4.7% |
净利率LECOUNF
| Q4 25 | 12.6% | 5.5% | ||
| Q3 25 | 11.6% | 6.7% | ||
| Q2 25 | 13.2% | 6.5% | ||
| Q1 25 | 11.8% | — | ||
| Q4 24 | 13.7% | 7.1% | ||
| Q3 24 | 10.2% | 7.0% | ||
| Q2 24 | 10.0% | 6.3% | ||
| Q1 24 | 12.6% | 3.5% |
每股收益（稀释后）LECOUNF
| Q4 25 | $2.45 | $1.89 | ||
| Q3 25 | $2.21 | $2.23 | ||
| Q2 25 | $2.56 | $2.13 | ||
| Q1 25 | $2.10 | — | ||
| Q4 24 | $2.47 | $2.31 | ||
| Q3 24 | $1.77 | $2.39 | ||
| Q2 24 | $1.77 | $2.03 | ||
| Q1 24 | $2.14 | $1.09 |
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 | $129.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $2.2B |
| 总资产 | $3.8B | $2.8B |
| 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LECOUNF
| Q4 25 | $308.8M | $129.5M | ||
| Q3 25 | $293.0M | $209.2M | ||
| Q2 25 | $299.5M | $211.9M | ||
| Q1 25 | $394.7M | — | ||
| Q4 24 | $377.3M | $181.0M | ||
| Q3 24 | $404.2M | $175.1M | ||
| Q2 24 | $272.7M | $125.4M | ||
| Q1 24 | $375.0M | $101.9M |
股东权益LECOUNF
| Q4 25 | $1.5B | $2.2B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $1.4B | $2.2B | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $2.1B | ||
| Q3 24 | $1.3B | $2.1B | ||
| Q2 24 | $1.3B | $2.1B | ||
| Q1 24 | $1.3B | $2.0B |
总资产LECOUNF
| Q4 25 | $3.8B | $2.8B | ||
| Q3 25 | $3.8B | $2.8B | ||
| Q2 25 | $3.7B | $2.8B | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $3.5B | $2.7B | ||
| Q3 24 | $3.7B | $2.7B | ||
| Q2 24 | $3.4B | $2.7B | ||
| Q1 24 | $3.4B | $2.6B |
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 | $14.9M |
| 自由现金流经营现金流 - 资本支出 | $52.0M | $-24.0M |
| 自由现金流率自由现金流/营收 | 4.8% | -3.9% |
| 资本支出强度资本支出/营收 | 4.0% | 6.3% |
| 现金转化率经营现金流/净利润 | 0.70× | 0.43× |
| 过去12个月自由现金流最近4个季度 | $534.2M | — |
8季度趋势，按日历期对齐
经营现金流LECOUNF
| Q4 25 | $95.0M | $14.9M | ||
| Q3 25 | $236.7M | — | ||
| Q2 25 | $143.8M | $138.4M | ||
| Q1 25 | $185.7M | — | ||
| Q4 24 | $95.8M | $58.1M | ||
| Q3 24 | $199.2M | $102.3M | ||
| Q2 24 | $170.7M | $86.3M | ||
| Q1 24 | $133.3M | $61.1M |
自由现金流LECOUNF
| Q4 25 | $52.0M | $-24.0M | ||
| Q3 25 | $205.1M | — | ||
| Q2 25 | $118.4M | $62.1M | ||
| Q1 25 | $158.7M | — | ||
| Q4 24 | $64.3M | $24.6M | ||
| Q3 24 | $163.5M | $63.8M | ||
| Q2 24 | $147.5M | $37.3M | ||
| Q1 24 | $107.0M | $27.2M |
自由现金流率LECOUNF
| Q4 25 | 4.8% | -3.9% | ||
| Q3 25 | 19.3% | — | ||
| Q2 25 | 10.9% | 10.2% | ||
| Q1 25 | 15.8% | — | ||
| Q4 24 | 6.3% | 4.1% | ||
| Q3 24 | 16.6% | 10.0% | ||
| Q2 24 | 14.4% | 6.2% | ||
| Q1 24 | 10.9% | 4.6% |
资本支出强度LECOUNF
| Q4 25 | 4.0% | 6.3% | ||
| Q3 25 | 3.0% | — | ||
| Q2 25 | 2.3% | 12.5% | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | 3.1% | 5.5% | ||
| Q3 24 | 3.6% | 6.0% | ||
| Q2 24 | 2.3% | 8.1% | ||
| Q1 24 | 2.7% | 5.7% |
现金转化率LECOUNF
| Q4 25 | 0.70× | 0.43× | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 1.00× | 3.49× | ||
| Q1 25 | 1.57× | — | ||
| Q4 24 | 0.68× | 1.35× | ||
| Q3 24 | 1.98× | 2.29× | ||
| Q2 24 | 1.68× | 2.27× | ||
| Q1 24 | 1.08× | 2.98× |
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% |
UNF
| Uniforms And Facility Service Solutions | $568.8M | 92% |
| First Aid And Safety Solutions | $30.8M | 5% |
| Other | $22.9M | 4% |
| Served As An Senior Officer | $400.0K | 0% |
