vs
李维斯（LEVI）与TransDigm Group（TDG）财务数据对比。点击上方公司名可切换其他公司
TransDigm Group的季度营收约是李维斯的1.3倍（$2.3B vs $1.8B），TransDigm Group净利率更高（19.5% vs 8.9%，领先10.5%），TransDigm Group同比增速更快（13.9% vs -4.0%），TransDigm Group自由现金流更多（$772.0M vs $215.7M），过去两年TransDigm Group的营收复合增速更高（9.1% vs 6.5%）
李维斯（Levi Strauss & Co.）是全球知名的美国服饰企业，凭借旗下Levi's品牌丹宁牛仔裤享誉全球。公司创立于1853年5月，由德裔犹太移民李维·斯特劳斯在旧金山成立，注册地为特拉华州，总部设在旧金山李维斯广场。
TransDigm Group是总部位于美国俄亥俄州克利夫兰的上市航空航天制造企业，1993年由私募股权机构通过杠杆收购整合四家工业航空企业组建而成。公司专注于研发生产定制化航空航天部件，多年来通过多起收购持续拓展自身产品矩阵。
LEVI vs TDG — 直观对比
营收规模更大
TDG
是对方的1.3倍
$1.8B
营收增速更快
TDG
高出17.9%
-4.0%
净利率更高
TDG
高出10.5%
8.9%
自由现金流更多
TDG
多$556.3M
$215.7M
两年增速更快
TDG
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.3B |
| 净利润 | $158.0M | $445.0M |
| 毛利率 | 60.8% | 59.2% |
| 营业利润率 | 11.9% | 45.6% |
| 净利率 | 8.9% | 19.5% |
| 营收同比 | -4.0% | 13.9% |
| 净利润同比 | -13.4% | -9.7% |
| 每股收益（稀释后） | $0.39 | $6.62 |
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LEVITDG
| Q4 25 | $1.8B | $2.3B | ||
| Q3 25 | $1.5B | $2.4B | ||
| Q2 25 | $1.4B | $2.2B | ||
| Q1 25 | $1.5B | $2.1B | ||
| Q4 24 | $1.8B | $2.0B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.4B | $2.0B | ||
| Q1 24 | $1.6B | $1.9B |
净利润LEVITDG
| Q4 25 | $158.0M | $445.0M | ||
| Q3 25 | $218.1M | $610.0M | ||
| Q2 25 | $67.0M | $492.0M | ||
| Q1 25 | $135.0M | $479.0M | ||
| Q4 24 | $182.5M | $493.0M | ||
| Q3 24 | $20.7M | $468.0M | ||
| Q2 24 | $18.0M | $461.0M | ||
| Q1 24 | $-10.6M | $403.0M |
毛利率LEVITDG
| Q4 25 | 60.8% | 59.2% | ||
| Q3 25 | 61.7% | 60.3% | ||
| Q2 25 | 62.6% | 59.5% | ||
| Q1 25 | 62.1% | 59.3% | ||
| Q4 24 | 61.3% | 61.6% | ||
| Q3 24 | 60.0% | 57.5% | ||
| Q2 24 | 60.5% | 59.6% | ||
| Q1 24 | 58.2% | 60.0% |
营业利润率LEVITDG
| Q4 25 | 11.9% | 45.6% | ||
| Q3 25 | 10.8% | 47.6% | ||
| Q2 25 | 7.5% | 46.4% | ||
| Q1 25 | 12.5% | 46.1% | ||
| Q4 24 | 11.5% | 48.6% | ||
| Q3 24 | 2.0% | 43.1% | ||
| Q2 24 | 1.5% | 45.7% | ||
| Q1 24 | -0.0% | 45.2% |
净利率LEVITDG
| Q4 25 | 8.9% | 19.5% | ||
| Q3 25 | 14.1% | 25.0% | ||
| Q2 25 | 4.6% | 22.0% | ||
| Q1 25 | 8.8% | 22.3% | ||
| Q4 24 | 9.9% | 24.6% | ||
| Q3 24 | 1.4% | 21.4% | ||
| Q2 24 | 1.2% | 22.5% | ||
| Q1 24 | -0.7% | 21.0% |
每股收益（稀释后）LEVITDG
| Q4 25 | $0.39 | $6.62 | ||
| Q3 25 | $0.55 | $7.75 | ||
| Q2 25 | $0.17 | $8.47 | ||
| Q1 25 | $0.34 | $8.24 | ||
| Q4 24 | $0.46 | $7.62 | ||
| Q3 24 | $0.05 | $5.82 | ||
| Q2 24 | $0.04 | $7.96 | ||
| Q1 24 | $-0.03 | $6.97 |
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 | $848.8M | $2.5B |
| 总债务越低越好 | $1.1B | $29.2B |
| 股东权益账面价值 | $2.3B | $-9.3B |
| 总资产 | $6.8B | $23.8B |
| 负债/权益比越低杠杆越低 | 0.46× | — |
8季度趋势，按日历期对齐
现金及短期投资LEVITDG
| Q4 25 | $848.8M | $2.5B | ||
| Q3 25 | $707.5M | $2.8B | ||
| Q2 25 | $736.7M | $2.8B | ||
| Q1 25 | $574.4M | $2.4B | ||
| Q4 24 | $690.0M | $2.5B | ||
| Q3 24 | $577.1M | $6.3B | ||
| Q2 24 | $641.4M | $3.4B | ||
| Q1 24 | $516.7M | $4.3B |
总债务LEVITDG
| Q4 25 | $1.1B | $29.2B | ||
| Q3 25 | $1.0B | $29.2B | ||
| Q2 25 | $1.0B | $24.3B | ||
| Q1 25 | $987.4M | $24.3B | ||
| Q4 24 | $994.0M | $24.3B | ||
| Q3 24 | $1.0B | $24.3B | ||
| Q2 24 | $1.0B | $21.4B | ||
| Q1 24 | $1.0B | $21.3B |
股东权益LEVITDG
| Q4 25 | $2.3B | $-9.3B | ||
| Q3 25 | $2.2B | $-9.7B | ||
| Q2 25 | $2.1B | $-5.0B | ||
| Q1 25 | $2.0B | $-5.7B | ||
| Q4 24 | $2.0B | $-6.3B | ||
| Q3 24 | $1.9B | $-6.3B | ||
| Q2 24 | $2.0B | $-2.5B | ||
| Q1 24 | $2.0B | $-3.0B |
总资产LEVITDG
| Q4 25 | $6.8B | $23.8B | ||
| Q3 25 | $6.7B | $22.9B | ||
| Q2 25 | $6.5B | $22.7B | ||
| Q1 25 | $6.2B | $21.9B | ||
| Q4 24 | $6.4B | $21.5B | ||
| Q3 24 | $6.3B | $25.6B | ||
| Q2 24 | $6.2B | $21.8B | ||
| Q1 24 | $6.0B | $21.6B |
负债/权益比LEVITDG
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.49× | — | ||
| Q1 25 | 0.49× | — | ||
| Q4 24 | 0.50× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.51× | — | ||
| Q1 24 | 0.51× | — |
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 | $266.8M | $832.0M |
| 自由现金流经营现金流 - 资本支出 | $215.7M | $772.0M |
| 自由现金流率自由现金流/营收 | 12.2% | 33.8% |
| 资本支出强度资本支出/营收 | 2.9% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.69× | 1.87× |
| 过去12个月自由现金流最近4个季度 | $308.2M | $1.9B |
8季度趋势，按日历期对齐
经营现金流LEVITDG
| Q4 25 | $266.8M | $832.0M | ||
| Q3 25 | $24.8M | $507.0M | ||
| Q2 25 | $185.5M | $631.0M | ||
| Q1 25 | $52.5M | $148.0M | ||
| Q4 24 | $297.3M | $752.0M | ||
| Q3 24 | $52.3M | $572.0M | ||
| Q2 24 | $262.8M | $608.0M | ||
| Q1 24 | $286.0M | $229.0M |
自由现金流LEVITDG
| Q4 25 | $215.7M | $772.0M | ||
| Q3 25 | $-39.4M | $441.0M | ||
| Q2 25 | $146.0M | $573.0M | ||
| Q1 25 | $-14.1M | $92.0M | ||
| Q4 24 | $231.6M | $710.0M | ||
| Q3 24 | $2.3M | $531.0M | ||
| Q2 24 | $222.6M | $568.0M | ||
| Q1 24 | $214.4M | $181.0M |
自由现金流率LEVITDG
| Q4 25 | 12.2% | 33.8% | ||
| Q3 25 | -2.6% | 18.1% | ||
| Q2 25 | 10.1% | 25.6% | ||
| Q1 25 | -0.9% | 4.3% | ||
| Q4 24 | 12.6% | 35.4% | ||
| Q3 24 | 0.2% | 24.3% | ||
| Q2 24 | 15.4% | 27.8% | ||
| Q1 24 | 13.8% | 9.4% |
资本支出强度LEVITDG
| Q4 25 | 2.9% | 2.6% | ||
| Q3 25 | 4.2% | 2.7% | ||
| Q2 25 | 2.7% | 2.6% | ||
| Q1 25 | 4.4% | 2.6% | ||
| Q4 24 | 3.6% | 2.1% | ||
| Q3 24 | 3.3% | 1.9% | ||
| Q2 24 | 2.8% | 2.0% | ||
| Q1 24 | 4.6% | 2.5% |
现金转化率LEVITDG
| Q4 25 | 1.69× | 1.87× | ||
| Q3 25 | 0.11× | 0.83× | ||
| Q2 25 | 2.77× | 1.28× | ||
| Q1 25 | 0.39× | 0.31× | ||
| Q4 24 | 1.63× | 1.53× | ||
| Q3 24 | 2.53× | 1.22× | ||
| Q2 24 | 14.60× | 1.32× | ||
| Q1 24 | — | 0.57× |
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
LEVI
| Other | $760.3M | 43% |
| Sales Channel Through Intermediary | $583.2M | 33% |
| Sales Channel Directly To Consumer | $376.0M | 21% |
| Beyond Yoga | $46.3M | 3% |
TDG
| Airframe | $1.0B | 45% |
| Defense | $603.0M | 26% |
| Commercial Aftermarket | $368.0M | 16% |
| Commercial OEM | $253.0M | 11% |
| Non Aviation Related Business | $40.0M | 2% |
