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林德（LIN）与特诺控股（TROX）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特诺控股的12.0倍（$8.8B vs $730.0M）。林德净利率更高（17.5% vs -24.1%，领先41.6%）。特诺控股同比增速更快（8.0% vs 5.8%）。林德自由现金流更多（$1.6B vs $53.0M）。过去两年林德的营收复合增速更高（4.0% vs -2.9%）
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。
特诺控股是一家业务遍及全球的美国化工企业，专注于钛制品领域，现有员工约6500名。在收购南非埃萨罗资源原有的矿砂业务后，特诺已成为全球规模最大的全产业链二氧化钛颜料供应商。二氧化钛颜料主要为涂料、塑料、纸张等产品增白增亮，特诺还拥有钛矿砂开采及加工业务。
LIN vs TROX — 直观对比
营收规模更大
LIN
是对方的12.0倍
$730.0M
营收增速更快
TROX
高出2.2%
5.8%
净利率更高
LIN
高出41.6%
-24.1%
自由现金流更多
LIN
多$1.5B
$53.0M
两年增速更快
LIN
近两年复合增速
-2.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $730.0M |
| 净利润 | $1.5B | $-176.0M |
| 毛利率 | — | 5.3% |
| 营业利润率 | 23.0% | -15.6% |
| 净利率 | 17.5% | -24.1% |
| 营收同比 | 5.8% | 8.0% |
| 净利润同比 | -11.3% | -486.7% |
| 每股收益（稀释后） | $3.28 | $-1.11 |
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LINTROX
| Q4 25 | $8.8B | $730.0M | ||
| Q3 25 | $8.6B | $699.0M | ||
| Q2 25 | $8.5B | $731.0M | ||
| Q1 25 | $8.1B | $738.0M | ||
| Q4 24 | $8.3B | $676.0M | ||
| Q3 24 | $8.4B | $804.0M | ||
| Q2 24 | $8.3B | $820.0M | ||
| Q1 24 | $8.1B | $774.0M |
净利润LINTROX
| Q4 25 | $1.5B | $-176.0M | ||
| Q3 25 | $1.9B | $-99.0M | ||
| Q2 25 | $1.8B | $-84.0M | ||
| Q1 25 | $1.7B | $-111.0M | ||
| Q4 24 | $1.7B | $-30.0M | ||
| Q3 24 | $1.6B | $-25.0M | ||
| Q2 24 | $1.7B | $16.0M | ||
| Q1 24 | $1.6B | $-9.0M |
毛利率LINTROX
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 7.4% | ||
| Q2 25 | — | 10.8% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | — | 17.3% | ||
| Q3 24 | — | 15.9% | ||
| Q2 24 | — | 18.3% | ||
| Q1 24 | — | 15.5% |
营业利润率LINTROX
| Q4 25 | 23.0% | -15.6% | ||
| Q3 25 | 27.5% | -6.2% | ||
| Q2 25 | 27.7% | -4.8% | ||
| Q1 25 | 26.9% | -8.3% | ||
| Q4 24 | 27.4% | 7.1% | ||
| Q3 24 | 25.0% | 6.7% | ||
| Q2 24 | 26.4% | 9.3% | ||
| Q1 24 | 25.9% | 5.3% |
净利率LINTROX
| Q4 25 | 17.5% | -24.1% | ||
| Q3 25 | 22.4% | -14.2% | ||
| Q2 25 | 20.8% | -11.5% | ||
| Q1 25 | 20.6% | -15.0% | ||
| Q4 24 | 20.8% | -4.4% | ||
| Q3 24 | 18.5% | -3.1% | ||
| Q2 24 | 20.1% | 2.0% | ||
| Q1 24 | 20.1% | -1.2% |
每股收益（稀释后）LINTROX
| Q4 25 | $3.28 | $-1.11 | ||
| Q3 25 | $4.09 | $-0.63 | ||
| Q2 25 | $3.73 | $-0.53 | ||
| Q1 25 | $3.51 | $-0.70 | ||
| Q4 24 | $3.61 | $-0.19 | ||
| Q3 24 | $3.22 | $-0.16 | ||
| Q2 24 | $3.44 | $0.10 | ||
| Q1 24 | $3.35 | $-0.06 |
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 | $199.0M |
| 总债务越低越好 | $20.7B | $3.1B |
| 股东权益账面价值 | $38.2B | $1.4B |
| 总资产 | $86.8B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.54× | 2.21× |
8季度趋势，按日历期对齐
现金及短期投资LINTROX
| Q4 25 | $5.1B | $199.0M | ||
| Q3 25 | $4.5B | $185.0M | ||
| Q2 25 | $4.8B | $132.0M | ||
| Q1 25 | $5.3B | $138.0M | ||
| Q4 24 | $4.8B | $151.0M | ||
| Q3 24 | $5.2B | $167.0M | ||
| Q2 24 | $4.6B | $201.0M | ||
| Q1 24 | $4.8B | $152.0M |
总债务LINTROX
| Q4 25 | $20.7B | $3.1B | ||
| Q3 25 | $18.6B | $3.1B | ||
| Q2 25 | $19.7B | $2.7B | ||
| Q1 25 | $17.6B | $2.8B | ||
| Q4 24 | $15.3B | $2.8B | ||
| Q3 24 | $17.5B | $2.8B | ||
| Q2 24 | $16.9B | $2.8B | ||
| Q1 24 | $15.2B | $2.8B |
股东权益LINTROX
| Q4 25 | $38.2B | $1.4B | ||
| Q3 25 | $38.6B | $1.6B | ||
| Q2 25 | $38.5B | $1.6B | ||
| Q1 25 | $38.0B | $1.7B | ||
| Q4 24 | $38.1B | $1.8B | ||
| Q3 24 | $39.2B | $1.9B | ||
| Q2 24 | $38.2B | $1.9B | ||
| Q1 24 | $38.8B | $1.9B |
总资产LINTROX
| Q4 25 | $86.8B | $6.2B | ||
| Q3 25 | $86.0B | $6.3B | ||
| Q2 25 | $86.1B | $6.2B | ||
| Q1 25 | $82.7B | $6.1B | ||
| Q4 24 | $80.1B | $6.0B | ||
| Q3 24 | $82.5B | $6.2B | ||
| Q2 24 | $80.2B | $6.1B | ||
| Q1 24 | $80.3B | $6.0B |
负债/权益比LINTROX
| Q4 25 | 0.54× | 2.21× | ||
| Q3 25 | 0.48× | 2.01× | ||
| Q2 25 | 0.51× | 1.67× | ||
| Q1 25 | 0.46× | 1.64× | ||
| Q4 24 | 0.40× | 1.57× | ||
| Q3 24 | 0.45× | 1.45× | ||
| Q2 24 | 0.44× | 1.47× | ||
| Q1 24 | 0.39× | 1.48× |
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 | $121.0M |
| 自由现金流经营现金流 - 资本支出 | $1.6B | $53.0M |
| 自由现金流率自由现金流/营收 | 17.9% | 7.3% |
| 资本支出强度资本支出/营收 | 16.6% | 9.3% |
| 现金转化率经营现金流/净利润 | 1.98× | — |
| 过去12个月自由现金流最近4个季度 | $5.1B | $-281.0M |
8季度趋势，按日历期对齐
经营现金流LINTROX
| Q4 25 | $3.0B | $121.0M | ||
| Q3 25 | $2.9B | $-57.0M | ||
| Q2 25 | $2.2B | $28.0M | ||
| Q1 25 | $2.2B | $-32.0M | ||
| Q4 24 | $2.8B | $82.0M | ||
| Q3 24 | $2.7B | $87.0M | ||
| Q2 24 | $1.9B | $160.0M | ||
| Q1 24 | $2.0B | $-29.0M |
自由现金流LINTROX
| Q4 25 | $1.6B | $53.0M | ||
| Q3 25 | $1.7B | $-137.0M | ||
| Q2 25 | $954.0M | $-55.0M | ||
| Q1 25 | $891.0M | $-142.0M | ||
| Q4 24 | $1.6B | $-35.0M | ||
| Q3 24 | $1.7B | $-14.0M | ||
| Q2 24 | $796.0M | $84.0M | ||
| Q1 24 | $906.0M | $-105.0M |
自由现金流率LINTROX
| Q4 25 | 17.9% | 7.3% | ||
| Q3 25 | 19.4% | -19.6% | ||
| Q2 25 | 11.2% | -7.5% | ||
| Q1 25 | 11.0% | -19.2% | ||
| Q4 24 | 18.8% | -5.2% | ||
| Q3 24 | 19.9% | -1.7% | ||
| Q2 24 | 9.6% | 10.2% | ||
| Q1 24 | 11.2% | -13.6% |
资本支出强度LINTROX
| Q4 25 | 16.6% | 9.3% | ||
| Q3 25 | 14.8% | 11.4% | ||
| Q2 25 | 14.8% | 11.4% | ||
| Q1 25 | 15.7% | 14.9% | ||
| Q4 24 | 15.1% | 17.3% | ||
| Q3 24 | 12.8% | 12.6% | ||
| Q2 24 | 13.7% | 9.3% | ||
| Q1 24 | 12.9% | 9.8% |
现金转化率LINTROX
| 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× | 10.00× | ||
| Q1 24 | 1.20× | — |
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% |
TROX
| Ti O2 | $577.0M | 79% |
| Zircon | $78.0M | 11% |
| Idle Facility And Lower Of Cost Or Net Realizable Value Charges | $42.0M | 6% |
| Other | $20.0M | 3% |
| MGT | $13.0M | 2% |
