vs
洛克希德·马丁（LMT）与台积电（TSM）财务数据对比。点击上方公司名可切换其他公司
台积电的季度营收约是洛克希德·马丁的2.0倍（$35.5B vs $18.0B），台积电净利率更高（50.5% vs 8.3%，领先42.2%）
洛克希德·马丁是美国知名国防与航空航天制造企业，总部位于美国马里兰州北贝塞斯达。该公司由洛克希德公司与马丁·玛丽埃塔公司于1995年3月15日合并组建，在全球防务、航天科技等领域拥有深厚技术积累，是全球顶尖的军工及航天设备供应商。
台积电是全球规模最大的专业独立半导体晶圆代工厂，总部位于中国台湾新竹，主要为无晶圆厂客户代工生产先进逻辑芯片，服务客户包括苹果、英伟达、AMD、高通和博通等，在3纳米、5纳米、7纳米等先进制程节点领域处于行业领先地位。
LMT vs TSM — 直观对比
营收规模更大
TSM
是对方的2.0倍
$18.0B
净利率更高
TSM
高出42.2%
8.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $18.0B | $35.5B |
| 净利润 | $1.5B | $17.9B |
| 毛利率 | 11.5% | 66.2% |
| 营业利润率 | 3.4% | 58.0% |
| 净利率 | 8.3% | 50.5% |
| 营收同比 | 0.3% | — |
| 净利润同比 | -13.1% | — |
| 每股收益（稀释后） | $6.44 | $111.55 |
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LMTTSM
| Q1 26 | $18.0B | $35.5B | ||
| Q4 25 | $20.3B | $32.7B | ||
| Q3 25 | $18.6B | $30.7B | ||
| Q2 25 | $18.2B | $28.9B | ||
| Q1 25 | $18.0B | $26.0B | ||
| Q4 24 | $18.6B | $88.3B | ||
| Q3 24 | $17.1B | — | ||
| Q2 24 | $18.1B | — |
净利润LMTTSM
| Q1 26 | $1.5B | $17.9B | ||
| Q4 25 | $1.3B | $15.8B | ||
| Q3 25 | $1.6B | $14.0B | ||
| Q2 25 | $342.0M | $12.3B | ||
| Q1 25 | $1.7B | $11.2B | ||
| Q4 24 | $527.0M | $35.3B | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.6B | — |
毛利率LMTTSM
| Q1 26 | 11.5% | 66.2% | ||
| Q4 25 | 11.4% | 62.3% | ||
| Q3 25 | 12.0% | 59.5% | ||
| Q2 25 | 4.0% | 58.6% | ||
| Q1 25 | 12.9% | 58.8% | ||
| Q4 24 | 3.7% | 56.1% | ||
| Q3 24 | 12.4% | — | ||
| Q2 24 | 11.8% | — |
营业利润率LMTTSM
| Q1 26 | 3.4% | 58.0% | ||
| Q4 25 | 11.5% | 53.9% | ||
| Q3 25 | 12.3% | 50.6% | ||
| Q2 25 | 4.1% | 49.6% | ||
| Q1 25 | 13.2% | 48.5% | ||
| Q4 24 | 3.7% | 45.7% | ||
| Q3 24 | 12.5% | — | ||
| Q2 24 | 11.9% | — |
净利率LMTTSM
| Q1 26 | 8.3% | 50.5% | ||
| Q4 25 | 6.6% | 48.3% | ||
| Q3 25 | 8.7% | 45.7% | ||
| Q2 25 | 1.9% | 42.7% | ||
| Q1 25 | 9.5% | 43.1% | ||
| Q4 24 | 2.8% | 40.0% | ||
| Q3 24 | 9.5% | — | ||
| Q2 24 | 9.1% | — |
每股收益（稀释后）LMTTSM
| Q1 26 | $6.44 | $111.55 | ||
| Q4 25 | $5.80 | $98.45 | ||
| Q3 25 | $6.95 | $87.20 | ||
| Q2 25 | $1.46 | $76.80 | ||
| Q1 25 | $7.28 | $69.70 | ||
| Q4 24 | $2.27 | $1.36 | ||
| Q3 24 | $6.80 | — | ||
| Q2 24 | $6.85 | — |
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 | $1.9B | — |
| 总债务越低越好 | $168.0M | — |
| 股东权益账面价值 | $7.5B | — |
| 总资产 | $59.2B | — |
| 负债/权益比越低杠杆越低 | 0.02× | — |
8季度趋势，按日历期对齐
现金及短期投资LMTTSM
| Q1 26 | $1.9B | — | ||
| Q4 25 | $4.1B | — | ||
| Q3 25 | $3.5B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $2.5B | $64.9B | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $2.5B | — |
总债务LMTTSM
| Q1 26 | $168.0M | — | ||
| Q4 25 | $21.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $20.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益LMTTSM
| Q1 26 | $7.5B | — | ||
| Q4 25 | $6.7B | — | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $6.7B | — | ||
| Q4 24 | $6.3B | $130.5B | ||
| Q3 24 | $7.2B | — | ||
| Q2 24 | $6.2B | — |
总资产LMTTSM
| Q1 26 | $59.2B | — | ||
| Q4 25 | $59.8B | — | ||
| Q3 25 | $60.3B | — | ||
| Q2 25 | $58.9B | — | ||
| Q1 25 | $56.7B | — | ||
| Q4 24 | $55.6B | $204.1B | ||
| Q3 24 | $55.5B | — | ||
| Q2 24 | $55.1B | — |
负债/权益比LMTTSM
| Q1 26 | 0.02× | — | ||
| Q4 25 | 3.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.20× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $220.0M | — |
| 自由现金流经营现金流 - 资本支出 | $-291.0M | — |
| 自由现金流率自由现金流/营收 | -1.6% | — |
| 资本支出强度资本支出/营收 | 2.8% | — |
| 现金转化率经营现金流/净利润 | 0.15× | — |
| 过去12个月自由现金流最近4个季度 | $5.7B | — |
8季度趋势，按日历期对齐
经营现金流LMTTSM
| Q1 26 | $220.0M | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $201.0M | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.0B | $55.7B | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $1.9B | — |
自由现金流LMTTSM
| Q1 26 | $-291.0M | — | ||
| Q4 25 | $2.8B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $-150.0M | — | ||
| Q1 25 | $955.0M | — | ||
| Q4 24 | $441.0M | $26.5B | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.5B | — |
自由现金流率LMTTSM
| Q1 26 | -1.6% | — | ||
| Q4 25 | 13.6% | — | ||
| Q3 25 | 18.0% | — | ||
| Q2 25 | -0.8% | — | ||
| Q1 25 | 5.3% | — | ||
| Q4 24 | 2.4% | 30.1% | ||
| Q3 24 | 12.2% | — | ||
| Q2 24 | 8.3% | — |
资本支出强度LMTTSM
| Q1 26 | 2.8% | — | ||
| Q4 25 | 2.3% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 3.1% | 33.0% | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 2.0% | — |
现金转化率LMTTSM
| Q1 26 | 0.15× | — | ||
| Q4 25 | 2.40× | — | ||
| Q3 25 | 2.30× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.82× | — | ||
| Q4 24 | 1.94× | 1.58× | ||
| Q3 24 | 1.50× | — | ||
| Q2 24 | 1.14× | — |
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
LMT
| Aeronautics | $7.0B | 39% |
| Rotary and Mission Systems | $4.3B | 24% |
| Missiles and Fire Control | $3.4B | 19% |
| Space | $3.2B | 18% |
TSM
暂无分部数据
