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林德（LIN）与蔚来（NIO）财务数据对比。点击上方公司名可切换其他公司
林德的季度营收约是蔚来的1.9倍（$8.8B vs $4.7B），林德净利率更高（17.5% vs 0.8%，领先16.6%），林德自由现金流更多（$1.6B vs $-439.4M）
林德是全球知名跨国化工企业，按市场份额及营收计为全球最大工业气体供应商。公司1879年由德国科学家、工程师卡尔·冯·林德在德国威斯巴登创立，现总部位于英国沃金，在爱尔兰注册，2018年由原林德股份公司与1907年在美国成立的普莱克斯合并组建。
蔚来是中国本土新能源汽车制造商，总部位于上海，2014年成立，2016年正式启用现有品牌名称。公司专注于智能电动汽车的研发、设计与销售，产品覆盖轿车、SUV等多个品类，近年已将业务拓展至智能手机研发领域。
LIN vs NIO — 直观对比
营收规模更大
LIN
是对方的1.9倍
$4.7B
净利率更高
LIN
高出16.6%
0.8%
自由现金流更多
LIN
多$2.0B
$-439.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $4.7B |
| 净利润 | $1.5B | $38.7M |
| 毛利率 | — | 17.5% |
| 营业利润率 | 23.0% | 1.5% |
| 净利率 | 17.5% | 0.8% |
| 营收同比 | 5.8% | — |
| 净利润同比 | -11.3% | — |
| 每股收益（稀释后） | $3.28 | $0.05 |
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LINNIO
| Q1 26 | — | $4.7B | ||
| Q4 25 | $8.8B | — | ||
| Q3 25 | $8.6B | $3.0B | ||
| Q2 25 | $8.5B | $2.6B | ||
| Q1 25 | $8.1B | $2.7B | ||
| Q4 24 | $8.3B | — | ||
| Q3 24 | $8.4B | — | ||
| Q2 24 | $8.3B | — |
净利润LINNIO
| Q1 26 | — | $38.7M | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.9B | $-505.2M | ||
| Q2 25 | $1.8B | $-709.5M | ||
| Q1 25 | $1.7B | $-984.2M | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.7B | — |
毛利率LINNIO
| Q1 26 | — | 17.5% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 13.9% | ||
| Q2 25 | — | 10.0% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率LINNIO
| Q1 26 | — | 1.5% | ||
| Q4 25 | 23.0% | — | ||
| Q3 25 | 27.5% | -16.2% | ||
| Q2 25 | 27.7% | -25.8% | ||
| Q1 25 | 26.9% | -30.6% | ||
| Q4 24 | 27.4% | — | ||
| Q3 24 | 25.0% | — | ||
| Q2 24 | 26.4% | — |
净利率LINNIO
| Q1 26 | — | 0.8% | ||
| Q4 25 | 17.5% | — | ||
| Q3 25 | 22.4% | -16.8% | ||
| Q2 25 | 20.8% | -27.0% | ||
| Q1 25 | 20.6% | -36.2% | ||
| Q4 24 | 20.8% | — | ||
| Q3 24 | 18.5% | — | ||
| Q2 24 | 20.1% | — |
每股收益（稀释后）LINNIO
| Q1 26 | — | $0.05 | ||
| Q4 25 | $3.28 | — | ||
| Q3 25 | $4.09 | $-1.51 | ||
| Q2 25 | $3.73 | $-2.31 | ||
| Q1 25 | $3.51 | $-3.47 | ||
| Q4 24 | $3.61 | — | ||
| Q3 24 | $3.22 | — | ||
| Q2 24 | $3.44 | — |
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 | $5.1B | $4.4B |
| 总债务越低越好 | $20.7B | — |
| 股东权益账面价值 | $38.2B | $594.8M |
| 总资产 | $86.8B | $17.8B |
| 负债/权益比越低杠杆越低 | 0.54× | — |
8季度趋势，按日历期对齐
现金及短期投资LINNIO
| Q1 26 | — | $4.4B | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $4.8B | $2.5B | ||
| Q1 25 | $5.3B | $4.6B | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $5.2B | — | ||
| Q2 24 | $4.6B | — |
总债务LINNIO
| Q1 26 | — | — | ||
| Q4 25 | $20.7B | — | ||
| Q3 25 | $18.6B | — | ||
| Q2 25 | $19.7B | — | ||
| Q1 25 | $17.6B | — | ||
| Q4 24 | $15.3B | — | ||
| Q3 24 | $17.5B | — | ||
| Q2 24 | $16.9B | — |
股东权益LINNIO
| Q1 26 | — | $594.8M | ||
| Q4 25 | $38.2B | — | ||
| Q3 25 | $38.6B | — | ||
| Q2 25 | $38.5B | $-168.3M | ||
| Q1 25 | $38.0B | $817.5M | ||
| Q4 24 | $38.1B | — | ||
| Q3 24 | $39.2B | — | ||
| Q2 24 | $38.2B | — |
总资产LINNIO
| Q1 26 | — | $17.8B | ||
| Q4 25 | $86.8B | — | ||
| Q3 25 | $86.0B | — | ||
| Q2 25 | $86.1B | $14.0B | ||
| Q1 25 | $82.7B | $14.7B | ||
| Q4 24 | $80.1B | — | ||
| Q3 24 | $82.5B | — | ||
| Q2 24 | $80.2B | — |
负债/权益比LINNIO
| Q1 26 | — | — | ||
| Q4 25 | 0.54× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.51× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 0.40× | — | ||
| Q3 24 | 0.45× | — | ||
| Q2 24 | 0.44× | — |
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 | $3.0B | $427.9M |
| 自由现金流经营现金流 - 资本支出 | $1.6B | $-439.4M |
| 自由现金流率自由现金流/营收 | 17.9% | -9.3% |
| 资本支出强度资本支出/营收 | 16.6% | 18.4% |
| 现金转化率经营现金流/净利润 | 1.98× | 11.07× |
| 过去12个月自由现金流最近4个季度 | $5.1B | — |
8季度趋势，按日历期对齐
经营现金流LINNIO
| Q1 26 | — | $427.9M | ||
| Q4 25 | $3.0B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | $-1.1B | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $1.9B | — |
自由现金流LINNIO
| Q1 26 | — | $-439.4M | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $954.0M | — | ||
| Q1 25 | $891.0M | $-2.3B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $796.0M | — |
自由现金流率LINNIO
| Q1 26 | — | -9.3% | ||
| Q4 25 | 17.9% | — | ||
| Q3 25 | 19.4% | — | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | 11.0% | -85.6% | ||
| Q4 24 | 18.8% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 9.6% | — |
资本支出强度LINNIO
| Q1 26 | — | 18.4% | ||
| Q4 25 | 16.6% | — | ||
| Q3 25 | 14.8% | — | ||
| Q2 25 | 14.8% | — | ||
| Q1 25 | 15.7% | 46.1% | ||
| Q4 24 | 15.1% | — | ||
| Q3 24 | 12.8% | — | ||
| Q2 24 | 13.7% | — |
现金转化率LINNIO
| Q1 26 | — | 11.07× | ||
| Q4 25 | 1.98× | — | ||
| Q3 25 | 1.53× | — | ||
| Q2 25 | 1.25× | — | ||
| Q1 25 | 1.29× | — | ||
| Q4 24 | 1.63× | — | ||
| Q3 24 | 1.76× | — | ||
| Q2 24 | 1.16× | — |
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
LIN
| Other | $4.9B | 56% |
| Packaged Gas | $1.6B | 19% |
| Merchant | $1.2B | 14% |
| On Site | $950.0M | 11% |
| Other Distribution Methods | $64.0M | 1% |
NIO
暂无分部数据
