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李维斯（LEVI）与环联（TRU）财务数据对比。点击上方公司名可切换其他公司
李维斯的季度营收约是环联的1.4倍（$1.8B vs $1.2B），环联净利率更高（9.6% vs 8.9%，领先0.7%），环联同比增速更快（13.7% vs -4.0%），过去两年环联的营收复合增速更高（9.4% 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。
环联是美国知名消费者信用报告机构，与益博睿、艾奎法克斯并列美国三大征信机构，总部位于伊利诺伊州芝加哥。目前其业务覆盖30余个国家，累计收集超10亿消费者的信用信息，持有美国几乎所有有信用记录消费者的超2亿份档案，服务超6.5万家企业客户，2014年营收达13亿美元。
LEVI vs TRU — 直观对比
营收规模更大
LEVI
是对方的1.4倍
$1.2B
营收增速更快
TRU
高出17.7%
-4.0%
净利率更高
TRU
高出0.7%
8.9%
两年增速更快
TRU
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $158.0M | $120.0M |
| 毛利率 | 60.8% | — |
| 营业利润率 | 11.9% | 19.7% |
| 净利率 | 8.9% | 9.6% |
| 营收同比 | -4.0% | 13.7% |
| 净利润同比 | -13.4% | -4.0% |
| 每股收益（稀释后） | $0.39 | $0.61 |
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LEVITRU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.4B | $1.1B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.8B | $1.0B | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.4B | $1.0B |
净利润LEVITRU
| Q1 26 | — | $120.0M | ||
| Q4 25 | $158.0M | $101.1M | ||
| Q3 25 | $218.1M | $96.6M | ||
| Q2 25 | $67.0M | $109.6M | ||
| Q1 25 | $135.0M | $148.1M | ||
| Q4 24 | $182.5M | $66.3M | ||
| Q3 24 | $20.7M | $68.0M | ||
| Q2 24 | $18.0M | $85.0M |
毛利率LEVITRU
| Q1 26 | — | — | ||
| Q4 25 | 60.8% | — | ||
| Q3 25 | 61.7% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.1% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | 60.5% | — |
营业利润率LEVITRU
| Q1 26 | — | 19.7% | ||
| Q4 25 | 11.9% | 17.4% | ||
| Q3 25 | 10.8% | 17.8% | ||
| Q2 25 | 7.5% | 16.9% | ||
| Q1 25 | 12.5% | 23.2% | ||
| Q4 24 | 11.5% | 16.5% | ||
| Q3 24 | 2.0% | 14.4% | ||
| Q2 24 | 1.5% | 17.5% |
净利率LEVITRU
| Q1 26 | — | 9.6% | ||
| Q4 25 | 8.9% | 8.6% | ||
| Q3 25 | 14.1% | 8.3% | ||
| Q2 25 | 4.6% | 9.6% | ||
| Q1 25 | 8.8% | 13.5% | ||
| Q4 24 | 9.9% | 6.4% | ||
| Q3 24 | 1.4% | 6.3% | ||
| Q2 24 | 1.2% | 8.2% |
每股收益（稀释后）LEVITRU
| Q1 26 | — | $0.61 | ||
| Q4 25 | $0.39 | $0.52 | ||
| Q3 25 | $0.55 | $0.49 | ||
| Q2 25 | $0.17 | $0.56 | ||
| Q1 25 | $0.34 | $0.75 | ||
| Q4 24 | $0.46 | $0.33 | ||
| Q3 24 | $0.05 | $0.35 | ||
| Q2 24 | $0.04 | $0.44 |
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 | $732.5M |
| 总债务越低越好 | $1.1B | $5.6B |
| 股东权益账面价值 | $2.3B | $4.9B |
| 总资产 | $6.8B | $12.0B |
| 负债/权益比越低杠杆越低 | 0.46× | 1.14× |
8季度趋势，按日历期对齐
现金及短期投资LEVITRU
| Q1 26 | — | $732.5M | ||
| Q4 25 | $848.8M | $856.3M | ||
| Q3 25 | $707.5M | $752.5M | ||
| Q2 25 | $736.7M | $690.0M | ||
| Q1 25 | $574.4M | $612.5M | ||
| Q4 24 | $690.0M | $682.0M | ||
| Q3 24 | $577.1M | $646.0M | ||
| Q2 24 | $641.4M | $545.8M |
总债务LEVITRU
| Q1 26 | — | $5.6B | ||
| Q4 25 | $1.1B | $4.9B | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $987.4M | — | ||
| Q4 24 | $994.0M | $5.1B | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — |
股东权益LEVITRU
| Q1 26 | — | $4.9B | ||
| Q4 25 | $2.3B | $4.4B | ||
| Q3 25 | $2.2B | $4.5B | ||
| Q2 25 | $2.1B | $4.5B | ||
| Q1 25 | $2.0B | $4.4B | ||
| Q4 24 | $2.0B | $4.2B | ||
| Q3 24 | $1.9B | $4.2B | ||
| Q2 24 | $2.0B | $4.1B |
总资产LEVITRU
| Q1 26 | — | $12.0B | ||
| Q4 25 | $6.8B | $11.1B | ||
| Q3 25 | $6.7B | $11.1B | ||
| Q2 25 | $6.5B | $11.1B | ||
| Q1 25 | $6.2B | $10.9B | ||
| Q4 24 | $6.4B | $11.0B | ||
| Q3 24 | $6.3B | $11.1B | ||
| Q2 24 | $6.2B | $11.0B |
负债/权益比LEVITRU
| Q1 26 | — | 1.14× | ||
| Q4 25 | 0.46× | 1.11× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.49× | — | ||
| Q1 25 | 0.49× | — | ||
| Q4 24 | 0.50× | 1.20× | ||
| Q3 24 | 0.54× | — | ||
| Q2 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 | — |
| 自由现金流经营现金流 - 资本支出 | $215.7M | — |
| 自由现金流率自由现金流/营收 | 12.2% | — |
| 资本支出强度资本支出/营收 | 2.9% | 5.2% |
| 现金转化率经营现金流/净利润 | 1.69× | — |
| 过去12个月自由现金流最近4个季度 | $308.2M | — |
8季度趋势，按日历期对齐
经营现金流LEVITRU
| Q1 26 | — | — | ||
| Q4 25 | $266.8M | $319.5M | ||
| Q3 25 | $24.8M | $324.3M | ||
| Q2 25 | $185.5M | $291.3M | ||
| Q1 25 | $52.5M | $52.5M | ||
| Q4 24 | $297.3M | $254.0M | ||
| Q3 24 | $52.3M | $229.3M | ||
| Q2 24 | $262.8M | $295.2M |
自由现金流LEVITRU
| Q1 26 | — | — | ||
| Q4 25 | $215.7M | $222.8M | ||
| Q3 25 | $-39.4M | $240.4M | ||
| Q2 25 | $146.0M | $214.3M | ||
| Q1 25 | $-14.1M | $-15.9M | ||
| Q4 24 | $231.6M | $136.9M | ||
| Q3 24 | $2.3M | $161.3M | ||
| Q2 24 | $222.6M | $226.9M |
自由现金流率LEVITRU
| Q1 26 | — | — | ||
| Q4 25 | 12.2% | 19.0% | ||
| Q3 25 | -2.6% | 20.6% | ||
| Q2 25 | 10.1% | 18.8% | ||
| Q1 25 | -0.9% | -1.5% | ||
| Q4 24 | 12.6% | 13.2% | ||
| Q3 24 | 0.2% | 14.9% | ||
| Q2 24 | 15.4% | 21.8% |
资本支出强度LEVITRU
| Q1 26 | — | 5.2% | ||
| Q4 25 | 2.9% | 8.3% | ||
| Q3 25 | 4.2% | 7.2% | ||
| Q2 25 | 2.7% | 6.8% | ||
| Q1 25 | 4.4% | 6.2% | ||
| Q4 24 | 3.6% | 11.3% | ||
| Q3 24 | 3.3% | 6.3% | ||
| Q2 24 | 2.8% | 6.6% |
现金转化率LEVITRU
| Q1 26 | — | — | ||
| Q4 25 | 1.69× | 3.16× | ||
| Q3 25 | 0.11× | 3.36× | ||
| Q2 25 | 2.77× | 2.66× | ||
| Q1 25 | 0.39× | 0.35× | ||
| Q4 24 | 1.63× | 3.83× | ||
| Q3 24 | 2.53× | 3.37× | ||
| Q2 24 | 14.60× | 3.47× |
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% |
TRU
| U.S. Markets | $975.0M | 78% |
| International | $274.0M | 22% |
