vs
林德（LIN）与甲骨文（ORCL）财务数据对比。点击上方公司名可切换其他公司
甲骨文的季度营收约是林德的1.8倍（$16.1B vs $8.8B），甲骨文净利率更高（38.2% vs 17.5%，领先20.7%），甲骨文同比增速更快（14.2% vs 5.8%），林德自由现金流更多（$1.6B vs $-10.0B），过去两年甲骨文的营收复合增速更高（10.0% vs 4.0%）
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。
甲骨文公司是全球知名的企业软件公司，主打数据库软件、企业级应用软件、云基础设施与云服务等业务，为全球各行业的企业提供数字化转型、数据管理与业务运营的技术解决方案，在全球企业级科技领域占据重要地位。
LIN vs ORCL — 直观对比
营收规模更大
ORCL
是对方的1.8倍
$8.8B
营收增速更快
ORCL
高出8.4%
5.8%
净利率更高
ORCL
高出20.7%
17.5%
自由现金流更多
LIN
多$11.5B
$-10.0B
两年增速更快
ORCL
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $16.1B |
| 净利润 | $1.5B | $6.1B |
| 毛利率 | — | — |
| 营业利润率 | 23.0% | 29.5% |
| 净利率 | 17.5% | 38.2% |
| 营收同比 | 5.8% | 14.2% |
| 净利润同比 | -11.3% | 94.7% |
| 每股收益（稀释后） | $3.28 | $2.10 |
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LINORCL
| Q4 25 | $8.8B | $16.1B | ||
| Q3 25 | $8.6B | $14.9B | ||
| Q2 25 | $8.5B | $15.9B | ||
| Q1 25 | $8.1B | $14.1B | ||
| Q4 24 | $8.3B | $14.1B | ||
| Q3 24 | $8.4B | $13.3B | ||
| Q2 24 | $8.3B | $14.3B | ||
| Q1 24 | $8.1B | $13.3B |
净利润LINORCL
| Q4 25 | $1.5B | $6.1B | ||
| Q3 25 | $1.9B | $2.9B | ||
| Q2 25 | $1.8B | $3.4B | ||
| Q1 25 | $1.7B | $2.9B | ||
| Q4 24 | $1.7B | $3.2B | ||
| Q3 24 | $1.6B | $2.9B | ||
| Q2 24 | $1.7B | $3.1B | ||
| Q1 24 | $1.6B | $2.4B |
营业利润率LINORCL
| Q4 25 | 23.0% | 29.5% | ||
| Q3 25 | 27.5% | 28.7% | ||
| Q2 25 | 27.7% | 32.1% | ||
| Q1 25 | 26.9% | 30.8% | ||
| Q4 24 | 27.4% | 30.0% | ||
| Q3 24 | 25.0% | 30.0% | ||
| Q2 24 | 26.4% | 32.8% | ||
| Q1 24 | 25.9% | 28.2% |
净利率LINORCL
| Q4 25 | 17.5% | 38.2% | ||
| Q3 25 | 22.4% | 19.6% | ||
| Q2 25 | 20.8% | 21.5% | ||
| Q1 25 | 20.6% | 20.8% | ||
| Q4 24 | 20.8% | 22.4% | ||
| Q3 24 | 18.5% | 22.0% | ||
| Q2 24 | 20.1% | 22.0% | ||
| Q1 24 | 20.1% | 18.1% |
每股收益（稀释后）LINORCL
| Q4 25 | $3.28 | $2.10 | ||
| Q3 25 | $4.09 | $1.01 | ||
| Q2 25 | $3.73 | $1.19 | ||
| Q1 25 | $3.51 | $1.02 | ||
| Q4 24 | $3.61 | $1.10 | ||
| Q3 24 | $3.22 | $1.03 | ||
| Q2 24 | $3.44 | $1.11 | ||
| Q1 24 | $3.35 | $0.85 |
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 | $19.2B |
| 总债务越低越好 | $20.7B | — |
| 股东权益账面价值 | $38.2B | $30.0B |
| 总资产 | $86.8B | $205.0B |
| 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LINORCL
| Q4 25 | $5.1B | $19.2B | ||
| Q3 25 | $4.5B | $10.4B | ||
| Q2 25 | $4.8B | $10.8B | ||
| Q1 25 | $5.3B | $17.4B | ||
| Q4 24 | $4.8B | $10.9B | ||
| Q3 24 | $5.2B | $10.6B | ||
| Q2 24 | $4.6B | $10.5B | ||
| Q1 24 | $4.8B | $9.5B |
总债务LINORCL
| 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 | — | ||
| Q1 24 | $15.2B | — |
股东权益LINORCL
| Q4 25 | $38.2B | $30.0B | ||
| Q3 25 | $38.6B | $24.2B | ||
| Q2 25 | $38.5B | $20.5B | ||
| Q1 25 | $38.0B | $16.7B | ||
| Q4 24 | $38.1B | $13.7B | ||
| Q3 24 | $39.2B | $10.8B | ||
| Q2 24 | $38.2B | $8.7B | ||
| Q1 24 | $38.8B | $5.6B |
总资产LINORCL
| Q4 25 | $86.8B | $205.0B | ||
| Q3 25 | $86.0B | $180.4B | ||
| Q2 25 | $86.1B | $168.4B | ||
| Q1 25 | $82.7B | $161.4B | ||
| Q4 24 | $80.1B | $148.5B | ||
| Q3 24 | $82.5B | $144.2B | ||
| Q2 24 | $80.2B | $141.0B | ||
| Q1 24 | $80.3B | $137.1B |
负债/权益比LINORCL
| 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× | — | ||
| Q1 24 | 0.39× | — |
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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $1.6B | $-10.0B |
| 自由现金流率自由现金流/营收 | 17.9% | -62.1% |
| 资本支出强度资本支出/营收 | 16.6% | 74.9% |
| 现金转化率经营现金流/净利润 | 1.98× | 0.34× |
| 过去12个月自由现金流最近4个季度 | $5.1B | $-13.2B |
8季度趋势，按日历期对齐
经营现金流LINORCL
| Q4 25 | $3.0B | $2.1B | ||
| Q3 25 | $2.9B | $8.1B | ||
| Q2 25 | $2.2B | $6.2B | ||
| Q1 25 | $2.2B | $5.9B | ||
| Q4 24 | $2.8B | $1.3B | ||
| Q3 24 | $2.7B | $7.4B | ||
| Q2 24 | $1.9B | $6.1B | ||
| Q1 24 | $2.0B | $5.5B |
自由现金流LINORCL
| Q4 25 | $1.6B | $-10.0B | ||
| Q3 25 | $1.7B | $-362.0M | ||
| Q2 25 | $954.0M | $-2.9B | ||
| Q1 25 | $891.0M | $71.0M | ||
| Q4 24 | $1.6B | $-2.7B | ||
| Q3 24 | $1.7B | $5.1B | ||
| Q2 24 | $796.0M | $3.3B | ||
| Q1 24 | $906.0M | $3.8B |
自由现金流率LINORCL
| Q4 25 | 17.9% | -62.1% | ||
| Q3 25 | 19.4% | -2.4% | ||
| Q2 25 | 11.2% | -18.4% | ||
| Q1 25 | 11.0% | 0.5% | ||
| Q4 24 | 18.8% | -19.0% | ||
| Q3 24 | 19.9% | 38.5% | ||
| Q2 24 | 9.6% | 23.0% | ||
| Q1 24 | 11.2% | 28.6% |
资本支出强度LINORCL
| Q4 25 | 16.6% | 74.9% | ||
| Q3 25 | 14.8% | 57.0% | ||
| Q2 25 | 14.8% | 57.1% | ||
| Q1 25 | 15.7% | 41.5% | ||
| Q4 24 | 15.1% | 28.2% | ||
| Q3 24 | 12.8% | 17.3% | ||
| Q2 24 | 13.7% | 19.6% | ||
| Q1 24 | 12.9% | 12.6% |
现金转化率LINORCL
| Q4 25 | 1.98× | 0.34× | ||
| Q3 25 | 1.53× | 2.78× | ||
| Q2 25 | 1.25× | 1.80× | ||
| Q1 25 | 1.29× | 2.02× | ||
| Q4 24 | 1.63× | 0.41× | ||
| Q3 24 | 1.76× | 2.54× | ||
| Q2 24 | 1.16× | 1.93× | ||
| Q1 24 | 1.20× | 2.28× |
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% |
ORCL
| Software Support | $4.9B | 31% |
| Cloud Infrastructure | $4.1B | 25% |
| Cloud Applications | $3.9B | 24% |
| Services Business | $1.4B | 9% |
| Software License | $939.0M | 6% |
| Hardware Business | $776.0M | 5% |
