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礼恩派（LEG）与MDU RESOURCES GROUP INC（MDU）财务数据对比。点击上方公司名可切换其他公司
礼恩派的季度营收约是MDU RESOURCES GROUP INC的1.8倍（$938.6M vs $522.6M），MDU RESOURCES GROUP INC净利率更高（14.6% vs 2.7%，领先11.9%），MDU RESOURCES GROUP INC同比增速更快（-1.6% vs -11.2%），礼恩派自由现金流更多（$101.9M vs $-336.0M），过去两年MDU RESOURCES GROUP INC的营收复合增速更高（-5.7% vs -7.5%）
礼恩派（Leggett & Platt）总部位于美国密苏里州迦太基，是一家多元化制造企业，成立于1883年。公司专注于设计生产各类工程组件及产品，广泛应用于家居与汽车领域。目前旗下设有15个业务单元，在全球18个国家拥有135座生产工厂，员工总数达2万名。
MDU资源集团是一家总部位于美国北达科他州俾斯麦的企业，业务涵盖受监管的能源输送供应，以及公用事业相关的建筑材料与服务，业务范围覆盖美国48个州，是当地能源及基建服务领域的重要参与者。
LEG vs MDU — 直观对比
营收规模更大
LEG
是对方的1.8倍
$522.6M
营收增速更快
MDU
高出9.6%
-11.2%
净利率更高
MDU
高出11.9%
2.7%
自由现金流更多
LEG
多$437.9M
$-336.0M
两年增速更快
MDU
近两年复合增速
-7.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $938.6M | $522.6M |
| 净利润 | $25.1M | $76.3M |
| 毛利率 | 17.9% | — |
| 营业利润率 | 2.0% | 20.5% |
| 净利率 | 2.7% | 14.6% |
| 营收同比 | -11.2% | -1.6% |
| 净利润同比 | 76.8% | 38.4% |
| 每股收益（稀释后） | $0.18 | $0.37 |
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LEGMDU
| Q4 25 | $938.6M | $522.6M | ||
| Q3 25 | $1.0B | $313.6M | ||
| Q2 25 | $1.1B | $348.7M | ||
| Q1 25 | $1.0B | $678.0M | ||
| Q4 24 | $1.1B | $531.0M | ||
| Q3 24 | $1.1B | $290.7M | ||
| Q2 24 | $1.1B | $343.1M | ||
| Q1 24 | $1.1B | $588.2M |
净利润LEGMDU
| Q4 25 | $25.1M | $76.3M | ||
| Q3 25 | $127.1M | $18.3M | ||
| Q2 25 | $52.5M | $13.8M | ||
| Q1 25 | $30.6M | $82.0M | ||
| Q4 24 | $14.2M | $55.2M | ||
| Q3 24 | $44.9M | $64.6M | ||
| Q2 24 | $-602.2M | $60.4M | ||
| Q1 24 | $31.6M | $100.9M |
毛利率LEGMDU
| Q4 25 | 17.9% | — | ||
| Q3 25 | 18.7% | — | ||
| Q2 25 | 18.2% | — | ||
| Q1 25 | 18.6% | — | ||
| Q4 24 | 16.6% | — | ||
| Q3 24 | 18.2% | — | ||
| Q2 24 | 16.5% | — | ||
| Q1 24 | 17.0% | — |
营业利润率LEGMDU
| Q4 25 | 2.0% | 20.5% | ||
| Q3 25 | 14.9% | 12.7% | ||
| Q2 25 | 6.8% | 8.7% | ||
| Q1 25 | 4.4% | 16.6% | ||
| Q4 24 | 2.4% | 17.8% | ||
| Q3 24 | 5.2% | 12.0% | ||
| Q2 24 | -56.2% | 11.5% | ||
| Q1 24 | 3.9% | 16.4% |
净利率LEGMDU
| Q4 25 | 2.7% | 14.6% | ||
| Q3 25 | 12.3% | 5.8% | ||
| Q2 25 | 5.0% | 4.0% | ||
| Q1 25 | 3.0% | 12.1% | ||
| Q4 24 | 1.3% | 10.4% | ||
| Q3 24 | 4.1% | 22.2% | ||
| Q2 24 | -53.4% | 17.6% | ||
| Q1 24 | 2.9% | 17.2% |
每股收益（稀释后）LEGMDU
| Q4 25 | $0.18 | $0.37 | ||
| Q3 25 | $0.91 | $0.09 | ||
| Q2 25 | $0.38 | $0.07 | ||
| Q1 25 | $0.22 | $0.40 | ||
| Q4 24 | $0.10 | $0.26 | ||
| Q3 24 | $0.33 | $0.32 | ||
| Q2 24 | $-4.39 | $0.30 | ||
| Q1 24 | $0.23 | $0.49 |
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 | $587.4M | $28.2M |
| 总债务越低越好 | $1.5B | $2.7B |
| 股东权益账面价值 | $1.0B | $2.8B |
| 总资产 | $3.5B | $7.6B |
| 负债/权益比越低杠杆越低 | 1.46× | 0.97× |
8季度趋势，按日历期对齐
现金及短期投资LEGMDU
| Q4 25 | $587.4M | $28.2M | ||
| Q3 25 | $460.7M | $75.9M | ||
| Q2 25 | $368.8M | $58.8M | ||
| Q1 25 | $412.6M | $59.5M | ||
| Q4 24 | $350.2M | $66.9M | ||
| Q3 24 | $277.2M | $88.3M | ||
| Q2 24 | $307.0M | $78.8M | ||
| Q1 24 | $361.3M | $72.7M |
总债务LEGMDU
| Q4 25 | $1.5B | $2.7B | ||
| Q3 25 | $1.5B | $2.4B | ||
| Q2 25 | $1.8B | $2.2B | ||
| Q1 25 | $1.9B | $2.2B | ||
| Q4 24 | $1.9B | $2.3B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.7B | $2.3B | ||
| Q1 24 | $1.8B | $2.3B |
股东权益LEGMDU
| Q4 25 | $1.0B | $2.8B | ||
| Q3 25 | $971.8M | $2.7B | ||
| Q2 25 | $855.0M | $2.7B | ||
| Q1 25 | $746.8M | $2.7B | ||
| Q4 24 | $689.4M | $2.7B | ||
| Q3 24 | $741.0M | $3.1B | ||
| Q2 24 | $667.6M | $3.0B | ||
| Q1 24 | $1.3B | $3.0B |
总资产LEGMDU
| Q4 25 | $3.5B | $7.6B | ||
| Q3 25 | $3.5B | $7.2B | ||
| Q2 25 | $3.7B | $6.9B | ||
| Q1 25 | $3.7B | $7.0B | ||
| Q4 24 | $3.7B | $7.0B | ||
| Q3 24 | $3.8B | $8.2B | ||
| Q2 24 | $3.8B | $8.0B | ||
| Q1 24 | $4.6B | $7.8B |
负债/权益比LEGMDU
| Q4 25 | 1.46× | 0.97× | ||
| Q3 25 | 1.54× | 0.86× | ||
| Q2 25 | 2.10× | 0.80× | ||
| Q1 25 | 2.59× | 0.80× | ||
| Q4 24 | 2.70× | 0.85× | ||
| Q3 24 | 2.13× | 0.76× | ||
| Q2 24 | 2.55× | 0.75× | ||
| Q1 24 | 1.38× | 0.76× |
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 | $121.5M | $80.6M |
| 自由现金流经营现金流 - 资本支出 | $101.9M | $-336.0M |
| 自由现金流率自由现金流/营收 | 10.9% | -64.3% |
| 资本支出强度资本支出/营收 | 2.1% | 79.7% |
| 现金转化率经营现金流/净利润 | 4.84× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $281.0M | $-297.0M |
8季度趋势，按日历期对齐
经营现金流LEGMDU
| Q4 25 | $121.5M | $80.6M | ||
| Q3 25 | $125.9M | $57.9M | ||
| Q2 25 | $84.0M | $117.4M | ||
| Q1 25 | $6.8M | $217.5M | ||
| Q4 24 | $122.3M | $60.5M | ||
| Q3 24 | $95.5M | $140.2M | ||
| Q2 24 | $94.0M | $136.5M | ||
| Q1 24 | $-6.1M | $165.1M |
自由现金流LEGMDU
| Q4 25 | $101.9M | $-336.0M | ||
| Q3 25 | $110.1M | $-121.9M | ||
| Q2 25 | $75.5M | $36.5M | ||
| Q1 25 | $-6.5M | $124.4M | ||
| Q4 24 | $100.5M | $-95.8M | ||
| Q3 24 | $77.1M | $673.0K | ||
| Q2 24 | $78.5M | $26.5M | ||
| Q1 24 | $-32.0M | $48.1M |
自由现金流率LEGMDU
| Q4 25 | 10.9% | -64.3% | ||
| Q3 25 | 10.6% | -38.9% | ||
| Q2 25 | 7.1% | 10.5% | ||
| Q1 25 | -0.6% | 18.4% | ||
| Q4 24 | 9.5% | -18.0% | ||
| Q3 24 | 7.0% | 0.2% | ||
| Q2 24 | 7.0% | 7.7% | ||
| Q1 24 | -2.9% | 8.2% |
资本支出强度LEGMDU
| Q4 25 | 2.1% | 79.7% | ||
| Q3 25 | 1.5% | 57.3% | ||
| Q2 25 | 0.8% | 23.2% | ||
| Q1 25 | 1.3% | 13.7% | ||
| Q4 24 | 2.1% | 29.4% | ||
| Q3 24 | 1.7% | 48.0% | ||
| Q2 24 | 1.4% | 32.0% | ||
| Q1 24 | 2.4% | 19.9% |
现金转化率LEGMDU
| Q4 25 | 4.84× | 1.06× | ||
| Q3 25 | 0.99× | 3.16× | ||
| Q2 25 | 1.60× | 8.52× | ||
| Q1 25 | 0.22× | 2.65× | ||
| Q4 24 | 8.61× | 1.10× | ||
| Q3 24 | 2.13× | 2.17× | ||
| Q2 24 | — | 2.26× | ||
| Q1 24 | -0.19× | 1.64× |
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
LEG
| Bedding Products | $373.8M | 40% |
| Flooring And Textile Products Group | $196.9M | 21% |
| Automotive Group | $194.9M | 21% |
| Work Furniture Group | $66.2M | 7% |
| Home Furniture Group | $61.0M | 6% |
| Hydraulic Cylinders | $45.8M | 5% |
MDU
| Natural Gas Distribution | $382.8M | 73% |
| Commercial Utility Sales | $42.7M | 8% |
| Residential Utility Sales | $33.7M | 6% |
| Pipelineand Midstream | $31.1M | 6% |
| Natural Gas Transportation | $17.2M | 3% |
| Industrial Utility Sales | $10.1M | 2% |
| Natural Gas Storage | $6.4M | 1% |
| Other Utility Sales | $1.9M | 0% |
