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林德（LIN）与US Foods Holding Corp.（USFD）财务数据对比。点击上方公司名可切换其他公司
US Foods Holding Corp.的季度营收约是林德的1.1倍（$9.8B vs $8.8B），林德净利率更高（17.5% vs 1.9%，领先15.6%），林德同比增速更快（5.8% vs 3.3%），林德自由现金流更多（$1.6B vs $159.0M），过去两年US Foods Holding Corp.的营收复合增速更高（4.6% 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。
US Foods Holding Corp.是美国第二大食品服务分销商，规模仅次于Sysco。公司服务覆盖独立餐厅、连锁餐饮、医疗保健、酒店、教育机构等共计25万个场点，为各类客户提供食品配送及相关供应链服务，业务覆盖场景十分多元。
LIN vs USFD — 直观对比
营收规模更大
USFD
是对方的1.1倍
$8.8B
营收增速更快
LIN
高出2.6%
3.3%
净利率更高
LIN
高出15.6%
1.9%
自由现金流更多
LIN
多$1.4B
$159.0M
两年增速更快
USFD
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $9.8B |
| 净利润 | $1.5B | $184.0M |
| 毛利率 | — | 17.6% |
| 营业利润率 | 23.0% | 3.3% |
| 净利率 | 17.5% | 1.9% |
| 营收同比 | 5.8% | 3.3% |
| 净利润同比 | -11.3% | 178.8% |
| 每股收益（稀释后） | $3.28 | $0.82 |
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LINUSFD
| Q4 25 | $8.8B | $9.8B | ||
| Q3 25 | $8.6B | $10.2B | ||
| Q2 25 | $8.5B | $10.1B | ||
| Q1 25 | $8.1B | $9.4B | ||
| Q4 24 | $8.3B | $9.5B | ||
| Q3 24 | $8.4B | $9.7B | ||
| Q2 24 | $8.3B | $9.7B | ||
| Q1 24 | $8.1B | $8.9B |
净利润LINUSFD
| Q4 25 | $1.5B | $184.0M | ||
| Q3 25 | $1.9B | $153.0M | ||
| Q2 25 | $1.8B | $224.0M | ||
| Q1 25 | $1.7B | $115.0M | ||
| Q4 24 | $1.7B | $66.0M | ||
| Q3 24 | $1.6B | $148.0M | ||
| Q2 24 | $1.7B | $198.0M | ||
| Q1 24 | $1.6B | $82.0M |
毛利率LINUSFD
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 17.2% | ||
| Q2 25 | — | 17.6% | ||
| Q1 25 | — | 17.3% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | — | 17.6% | ||
| Q1 24 | — | 16.7% |
营业利润率LINUSFD
| Q4 25 | 23.0% | 3.3% | ||
| Q3 25 | 27.5% | 2.8% | ||
| Q2 25 | 27.7% | 3.7% | ||
| Q1 25 | 26.9% | 2.4% | ||
| Q4 24 | 27.4% | 3.2% | ||
| Q3 24 | 25.0% | 2.9% | ||
| Q2 24 | 26.4% | 3.6% | ||
| Q1 24 | 25.9% | 1.8% |
净利率LINUSFD
| Q4 25 | 17.5% | 1.9% | ||
| Q3 25 | 22.4% | 1.5% | ||
| Q2 25 | 20.8% | 2.2% | ||
| Q1 25 | 20.6% | 1.2% | ||
| Q4 24 | 20.8% | 0.7% | ||
| Q3 24 | 18.5% | 1.5% | ||
| Q2 24 | 20.1% | 2.0% | ||
| Q1 24 | 20.1% | 0.9% |
每股收益（稀释后）LINUSFD
| Q4 25 | $3.28 | $0.82 | ||
| Q3 25 | $4.09 | $0.67 | ||
| Q2 25 | $3.73 | $0.96 | ||
| Q1 25 | $3.51 | $0.49 | ||
| Q4 24 | $3.61 | $0.28 | ||
| Q3 24 | $3.22 | $0.61 | ||
| Q2 24 | $3.44 | $0.80 | ||
| Q1 24 | $3.35 | $0.33 |
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 | $41.0M |
| 总债务越低越好 | $20.7B | $5.1B |
| 股东权益账面价值 | $38.2B | $4.3B |
| 总资产 | $86.8B | $13.9B |
| 负债/权益比越低杠杆越低 | 0.54× | 1.18× |
8季度趋势，按日历期对齐
现金及短期投资LINUSFD
| Q4 25 | $5.1B | $41.0M | ||
| Q3 25 | $4.5B | $56.0M | ||
| Q2 25 | $4.8B | $61.0M | ||
| Q1 25 | $5.3B | $101.0M | ||
| Q4 24 | $4.8B | $59.0M | ||
| Q3 24 | $5.2B | $81.0M | ||
| Q2 24 | $4.6B | $405.0M | ||
| Q1 24 | $4.8B | $267.0M |
总债务LINUSFD
| Q4 25 | $20.7B | $5.1B | ||
| Q3 25 | $18.6B | $4.8B | ||
| Q2 25 | $19.7B | $4.7B | ||
| Q1 25 | $17.6B | $4.7B | ||
| Q4 24 | $15.3B | $4.8B | ||
| Q3 24 | $17.5B | $4.7B | ||
| Q2 24 | $16.9B | $4.6B | ||
| Q1 24 | $15.2B | $4.6B |
股东权益LINUSFD
| Q4 25 | $38.2B | $4.3B | ||
| Q3 25 | $38.6B | $4.5B | ||
| Q2 25 | $38.5B | $4.6B | ||
| Q1 25 | $38.0B | $4.6B | ||
| Q4 24 | $38.1B | $4.5B | ||
| Q3 24 | $39.2B | $4.6B | ||
| Q2 24 | $38.2B | $5.0B | ||
| Q1 24 | $38.8B | $4.8B |
总资产LINUSFD
| Q4 25 | $86.8B | $13.9B | ||
| Q3 25 | $86.0B | $14.0B | ||
| Q2 25 | $86.1B | $13.8B | ||
| Q1 25 | $82.7B | $13.7B | ||
| Q4 24 | $80.1B | $13.4B | ||
| Q3 24 | $82.5B | $13.5B | ||
| Q2 24 | $80.2B | $13.7B | ||
| Q1 24 | $80.3B | $13.4B |
负债/权益比LINUSFD
| Q4 25 | 0.54× | 1.18× | ||
| Q3 25 | 0.48× | 1.08× | ||
| Q2 25 | 0.51× | 1.02× | ||
| Q1 25 | 0.46× | 1.02× | ||
| Q4 24 | 0.40× | 1.06× | ||
| Q3 24 | 0.45× | 1.01× | ||
| Q2 24 | 0.44× | 0.92× | ||
| Q1 24 | 0.39× | 0.95× |
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 | $293.0M |
| 自由现金流经营现金流 - 资本支出 | $1.6B | $159.0M |
| 自由现金流率自由现金流/营收 | 17.9% | 1.6% |
| 资本支出强度资本支出/营收 | 16.6% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.98× | 1.59× |
| 过去12个月自由现金流最近4个季度 | $5.1B | $959.0M |
8季度趋势，按日历期对齐
经营现金流LINUSFD
| Q4 25 | $3.0B | $293.0M | ||
| Q3 25 | $2.9B | $351.0M | ||
| Q2 25 | $2.2B | $334.0M | ||
| Q1 25 | $2.2B | $391.0M | ||
| Q4 24 | $2.8B | $283.0M | ||
| Q3 24 | $2.7B | $270.0M | ||
| Q2 24 | $1.9B | $482.0M | ||
| Q1 24 | $2.0B | $139.0M |
自由现金流LINUSFD
| Q4 25 | $1.6B | $159.0M | ||
| Q3 25 | $1.7B | $236.0M | ||
| Q2 25 | $954.0M | $257.0M | ||
| Q1 25 | $891.0M | $307.0M | ||
| Q4 24 | $1.6B | $178.0M | ||
| Q3 24 | $1.7B | $190.0M | ||
| Q2 24 | $796.0M | $413.0M | ||
| Q1 24 | $906.0M | $52.0M |
自由现金流率LINUSFD
| Q4 25 | 17.9% | 1.6% | ||
| Q3 25 | 19.4% | 2.3% | ||
| Q2 25 | 11.2% | 2.5% | ||
| Q1 25 | 11.0% | 3.3% | ||
| Q4 24 | 18.8% | 1.9% | ||
| Q3 24 | 19.9% | 2.0% | ||
| Q2 24 | 9.6% | 4.3% | ||
| Q1 24 | 11.2% | 0.6% |
资本支出强度LINUSFD
| Q4 25 | 16.6% | 1.4% | ||
| Q3 25 | 14.8% | 1.1% | ||
| Q2 25 | 14.8% | 0.8% | ||
| Q1 25 | 15.7% | 0.9% | ||
| Q4 24 | 15.1% | 1.1% | ||
| Q3 24 | 12.8% | 0.8% | ||
| Q2 24 | 13.7% | 0.7% | ||
| Q1 24 | 12.9% | 1.0% |
现金转化率LINUSFD
| Q4 25 | 1.98× | 1.59× | ||
| Q3 25 | 1.53× | 2.29× | ||
| Q2 25 | 1.25× | 1.49× | ||
| Q1 25 | 1.29× | 3.40× | ||
| Q4 24 | 1.63× | 4.29× | ||
| Q3 24 | 1.76× | 1.82× | ||
| Q2 24 | 1.16× | 2.43× | ||
| Q1 24 | 1.20× | 1.70× |
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% |
USFD
| Product One | $3.5B | 36% |
| Product Two | $1.7B | 17% |
| Product Three | $1.7B | 17% |
| Product Four | $985.0M | 10% |
| Product Five | $901.0M | 9% |
| Product Six | $580.0M | 6% |
| Product Seven | $485.0M | 5% |
