vs
徕博科（LH）与WEC Energy Group（WEC）财务数据对比。点击上方公司名可切换其他公司
徕博科的季度营收约是WEC Energy Group的1.4倍（$3.5B vs $2.5B），WEC Energy Group净利率更高（12.5% vs 4.7%，领先7.8%），WEC Energy Group同比增速更快（11.1% vs 5.6%），过去两年徕博科的营收复合增速更高（5.2% vs -2.7%）
徕博科（Labcorp）是全球领先的生命科学与诊断检测企业，面向医疗机构、制药企业和个人患者提供全面的临床检验服务、药物研发支持及医疗检测解决方案，依托先进科研经验与创新技术输出准确可落地的健康洞察，助力临床决策、加快新药研发，提升全球患者健康水平。
WEC能源集团是总部位于美国威斯康星州密尔沃基的知名能源企业，业务覆盖美国四个州，为总计440万用户提供可靠的电力及天然气供应服务，是北美地区颇具规模的区域性能源服务商。
LH vs WEC — 直观对比
营收规模更大
LH
是对方的1.4倍
$2.5B
营收增速更快
WEC
高出5.5%
5.6%
净利率更高
WEC
高出7.8%
4.7%
两年增速更快
LH
近两年复合增速
-2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $2.5B |
| 净利润 | $164.7M | $316.8M |
| 毛利率 | 28.2% | 63.7% |
| 营业利润率 | 7.6% | 17.9% |
| 净利率 | 4.7% | 12.5% |
| 营收同比 | 5.6% | 11.1% |
| 净利润同比 | 14.9% | -30.1% |
| 每股收益（稀释后） | $1.98 | — |
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LHWEC
| Q4 25 | $3.5B | $2.5B | ||
| Q3 25 | $3.6B | $2.1B | ||
| Q2 25 | $3.5B | $2.0B | ||
| Q1 25 | $3.3B | $3.1B | ||
| Q4 24 | $3.3B | $2.3B | ||
| Q3 24 | $3.3B | $1.9B | ||
| Q2 24 | $3.2B | $1.8B | ||
| Q1 24 | $3.2B | $2.7B |
净利润LHWEC
| Q4 25 | $164.7M | $316.8M | ||
| Q3 25 | $261.1M | $270.2M | ||
| Q2 25 | $237.9M | $243.0M | ||
| Q1 25 | $212.8M | $725.5M | ||
| Q4 24 | $143.4M | $453.1M | ||
| Q3 24 | $169.3M | $238.6M | ||
| Q2 24 | $205.3M | $210.0M | ||
| Q1 24 | $228.0M | $622.6M |
毛利率LHWEC
| Q4 25 | 28.2% | 63.7% | ||
| Q3 25 | 28.8% | 71.1% | ||
| Q2 25 | 29.7% | 71.6% | ||
| Q1 25 | 28.3% | 63.0% | ||
| Q4 24 | 26.9% | 67.7% | ||
| Q3 24 | 27.6% | 72.1% | ||
| Q2 24 | 28.8% | 73.5% | ||
| Q1 24 | 28.2% | 65.4% |
营业利润率LHWEC
| Q4 25 | 7.6% | 17.9% | ||
| Q3 25 | 11.1% | 21.4% | ||
| Q2 25 | 11.2% | 20.1% | ||
| Q1 25 | 9.7% | 29.8% | ||
| Q4 24 | 6.5% | 25.9% | ||
| Q3 24 | 7.7% | 20.6% | ||
| Q2 24 | 9.2% | 20.6% | ||
| Q1 24 | 10.1% | 30.3% |
净利率LHWEC
| Q4 25 | 4.7% | 12.5% | ||
| Q3 25 | 7.3% | 12.8% | ||
| Q2 25 | 6.7% | 12.1% | ||
| Q1 25 | 6.4% | 23.0% | ||
| Q4 24 | 4.3% | 19.8% | ||
| Q3 24 | 5.2% | 12.8% | ||
| Q2 24 | 6.4% | 11.9% | ||
| Q1 24 | 7.2% | 23.2% |
每股收益（稀释后）LHWEC
| Q4 25 | $1.98 | — | ||
| Q3 25 | $3.12 | — | ||
| Q2 25 | $2.84 | — | ||
| Q1 25 | $2.52 | — | ||
| Q4 24 | $1.72 | — | ||
| Q3 24 | $2.00 | — | ||
| Q2 24 | $2.43 | — | ||
| Q1 24 | $2.69 | — |
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 | $532.3M | $27.6M |
| 总债务越低越好 | — | $20.0B |
| 股东权益账面价值 | $8.6B | $14.1B |
| 总资产 | $18.4B | $51.5B |
| 负债/权益比越低杠杆越低 | — | 1.42× |
8季度趋势，按日历期对齐
现金及短期投资LHWEC
| Q4 25 | $532.3M | $27.6M | ||
| Q3 25 | $598.1M | $51.1M | ||
| Q2 25 | $647.3M | $23.0M | ||
| Q1 25 | $369.4M | $82.2M | ||
| Q4 24 | $1.5B | $9.8M | ||
| Q3 24 | $1.5B | $322.5M | ||
| Q2 24 | $265.1M | $224.0M | ||
| Q1 24 | $99.3M | $38.9M |
总债务LHWEC
| Q4 25 | — | $20.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $18.9B | ||
| Q3 24 | — | $16.9B | ||
| Q2 24 | — | $16.9B | ||
| Q1 24 | — | $15.4B |
股东权益LHWEC
| Q4 25 | $8.6B | $14.1B | ||
| Q3 25 | $8.7B | $14.0B | ||
| Q2 25 | $8.5B | $13.7B | ||
| Q1 25 | $8.3B | $13.4B | ||
| Q4 24 | $8.1B | $12.8B | ||
| Q3 24 | $8.2B | $12.4B | ||
| Q2 24 | $8.0B | $12.4B | ||
| Q1 24 | $8.0B | $12.4B |
总资产LHWEC
| Q4 25 | $18.4B | $51.5B | ||
| Q3 25 | $18.3B | $49.8B | ||
| Q2 25 | $18.1B | $48.5B | ||
| Q1 25 | $17.6B | $48.2B | ||
| Q4 24 | $18.4B | $47.4B | ||
| Q3 24 | $18.6B | $45.2B | ||
| Q2 24 | $16.7B | $44.6B | ||
| Q1 24 | $16.5B | $43.9B |
负债/权益比LHWEC
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | — | 1.24× |
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 | $614.2M | $424.6M |
| 自由现金流经营现金流 - 资本支出 | $490.3M | — |
| 自由现金流率自由现金流/营收 | 13.9% | — |
| 资本支出强度资本支出/营收 | 3.5% | — |
| 现金转化率经营现金流/净利润 | 3.73× | 1.34× |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流LHWEC
| Q4 25 | $614.2M | $424.6M | ||
| Q3 25 | $387.2M | $938.9M | ||
| Q2 25 | $620.6M | $853.3M | ||
| Q1 25 | $18.5M | $1.2B | ||
| Q4 24 | $777.2M | $581.8M | ||
| Q3 24 | $277.3M | $729.0M | ||
| Q2 24 | $561.1M | $1.0B | ||
| Q1 24 | $-29.8M | $863.6M |
自由现金流LHWEC
| Q4 25 | $490.3M | — | ||
| Q3 25 | $280.5M | $-625.7M | ||
| Q2 25 | $542.7M | $23.9M | ||
| Q1 25 | $-107.5M | $461.5M | ||
| Q4 24 | $665.1M | — | ||
| Q3 24 | $161.5M | $-67.3M | ||
| Q2 24 | $432.9M | $343.5M | ||
| Q1 24 | $-163.6M | $419.1M |
自由现金流率LHWEC
| Q4 25 | 13.9% | — | ||
| Q3 25 | 7.9% | -29.7% | ||
| Q2 25 | 15.4% | 1.2% | ||
| Q1 25 | -3.2% | 14.7% | ||
| Q4 24 | 20.0% | — | ||
| Q3 24 | 4.9% | -3.6% | ||
| Q2 24 | 13.4% | 19.4% | ||
| Q1 24 | -5.2% | 15.6% |
资本支出强度LHWEC
| Q4 25 | 3.5% | — | ||
| Q3 25 | 3.0% | 74.4% | ||
| Q2 25 | 2.2% | 41.3% | ||
| Q1 25 | 3.8% | 22.3% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.5% | 42.7% | ||
| Q2 24 | 4.0% | 39.2% | ||
| Q1 24 | 4.2% | 16.6% |
现金转化率LHWEC
| Q4 25 | 3.73× | 1.34× | ||
| Q3 25 | 1.48× | 3.47× | ||
| Q2 25 | 2.61× | 3.51× | ||
| Q1 25 | 0.09× | 1.60× | ||
| Q4 24 | 5.42× | 1.28× | ||
| Q3 24 | 1.64× | 3.06× | ||
| Q2 24 | 2.73× | 4.94× | ||
| Q1 24 | -0.13× | 1.39× |
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
LH
| Diagnostics | $2.7B | 78% |
| Biopharma Laboratory Services | $793.0M | 23% |
WEC
| Wisconsin | $1.9B | 73% |
| Illinois | $441.2M | 17% |
| Other States | $165.1M | 7% |
| External Revenues | $74.0M | 3% |
| Otheroperatingrevenues | $8.0M | 0% |
