vs
罗技（LOGI）与West Pharmaceutical Services（WST）财务数据对比。点击上方公司名可切换其他公司
罗技的季度营收约是West Pharmaceutical Services的1.8倍（$1.4B vs $805.0M），罗技净利率更高（17.7% vs 16.4%，领先1.3%），West Pharmaceutical Services同比增速更快（7.5% vs 6.1%），罗技自由现金流更多（$465.6M vs $175.0M），过去两年罗技的营收复合增速更高（18.5% vs 7.6%）
罗技国际是总部位于瑞士洛桑的跨国企业，专注于计算机外设及相关软件的研发与生产，在欧洲、亚洲、大洋洲、美洲均设有分支机构，为瑞士市场指数成分股，同时在纳斯达克交易所挂牌上市。
美国West Pharmaceutical Services是注射用药品包装及给药系统的设计和制造商，1923年成立，总部位于宾夕法尼亚州埃克斯顿。成立初期主营注射类药物包装用橡胶组件，曾为青霉素和胰岛素生产商提供符合无菌要求的配套产品。
LOGI vs WST — 直观对比
营收规模更大
LOGI
是对方的1.8倍
$805.0M
营收增速更快
WST
高出1.4%
6.1%
净利率更高
LOGI
高出1.3%
16.4%
自由现金流更多
LOGI
多$290.6M
$175.0M
两年增速更快
LOGI
近两年复合增速
7.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $805.0M |
| 净利润 | $251.0M | $132.1M |
| 毛利率 | 43.2% | 37.8% |
| 营业利润率 | 20.1% | 19.5% |
| 净利率 | 17.7% | 16.4% |
| 营收同比 | 6.1% | 7.5% |
| 净利润同比 | 25.4% | 1.5% |
| 每股收益（稀释后） | $1.69 | $1.82 |
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LOGIWST
| Q4 25 | $1.4B | $805.0M | ||
| Q3 25 | $1.2B | $804.6M | ||
| Q2 25 | $1.1B | $766.5M | ||
| Q1 25 | $1.0B | $698.0M | ||
| Q4 24 | $1.3B | $748.8M | ||
| Q3 24 | $1.1B | $746.9M | ||
| Q2 24 | $1.1B | $702.1M | ||
| Q1 24 | $1.0B | $695.4M |
净利润LOGIWST
| Q4 25 | $251.0M | $132.1M | ||
| Q3 25 | $170.7M | $140.0M | ||
| Q2 25 | $146.0M | $131.8M | ||
| Q1 25 | $144.1M | $89.8M | ||
| Q4 24 | $200.1M | $130.1M | ||
| Q3 24 | $145.5M | $136.0M | ||
| Q2 24 | $141.8M | $111.3M | ||
| Q1 24 | $167.6M | $115.3M |
毛利率LOGIWST
| Q4 25 | 43.2% | 37.8% | ||
| Q3 25 | 43.4% | 36.6% | ||
| Q2 25 | 41.7% | 35.7% | ||
| Q1 25 | 43.1% | 33.2% | ||
| Q4 24 | 42.9% | 36.5% | ||
| Q3 24 | 43.6% | 35.4% | ||
| Q2 24 | 42.8% | 32.8% | ||
| Q1 24 | 43.2% | 33.1% |
营业利润率LOGIWST
| Q4 25 | 20.1% | 19.5% | ||
| Q3 25 | 16.1% | 20.8% | ||
| Q2 25 | 14.1% | 20.1% | ||
| Q1 25 | 10.5% | 15.3% | ||
| Q4 24 | 17.5% | 21.3% | ||
| Q3 24 | 14.4% | 21.6% | ||
| Q2 24 | 14.1% | 18.0% | ||
| Q1 24 | 12.9% | 17.7% |
净利率LOGIWST
| Q4 25 | 17.7% | 16.4% | ||
| Q3 25 | 14.4% | 17.4% | ||
| Q2 25 | 12.7% | 17.2% | ||
| Q1 25 | 14.3% | 12.9% | ||
| Q4 24 | 14.9% | 17.4% | ||
| Q3 24 | 13.0% | 18.2% | ||
| Q2 24 | 13.0% | 15.9% | ||
| Q1 24 | 16.6% | 16.6% |
每股收益（稀释后）LOGIWST
| Q4 25 | $1.69 | $1.82 | ||
| Q3 25 | $1.15 | $1.92 | ||
| Q2 25 | $0.98 | $1.82 | ||
| Q1 25 | $0.94 | $1.23 | ||
| Q4 24 | $1.32 | $1.78 | ||
| Q3 24 | $0.95 | $1.85 | ||
| Q2 24 | $0.92 | $1.51 | ||
| Q1 24 | $1.07 | $1.55 |
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 | $1.8B | $791.3M |
| 总债务越低越好 | — | $202.8M |
| 股东权益账面价值 | $2.3B | $3.2B |
| 总资产 | $4.1B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资LOGIWST
| Q4 25 | $1.8B | $791.3M | ||
| Q3 25 | $1.4B | $628.5M | ||
| Q2 25 | $1.5B | $509.7M | ||
| Q1 25 | $1.5B | $404.2M | ||
| Q4 24 | $1.5B | $484.6M | ||
| Q3 24 | $1.4B | $490.9M | ||
| Q2 24 | $1.5B | $446.2M | ||
| Q1 24 | $1.5B | $601.8M |
总债务LOGIWST
| Q4 25 | — | $202.8M | ||
| Q3 25 | — | $202.7M | ||
| Q2 25 | — | $202.6M | ||
| Q1 25 | — | $202.6M | ||
| Q4 24 | — | $202.6M | ||
| Q3 24 | — | $202.6M | ||
| Q2 24 | — | $205.8M | ||
| Q1 24 | — | $206.2M |
股东权益LOGIWST
| Q4 25 | $2.3B | $3.2B | ||
| Q3 25 | $2.1B | $3.1B | ||
| Q2 25 | $2.2B | $2.9B | ||
| Q1 25 | $2.1B | $2.7B | ||
| Q4 24 | $2.1B | $2.7B | ||
| Q3 24 | $2.1B | $2.8B | ||
| Q2 24 | $2.2B | $2.6B | ||
| Q1 24 | $2.2B | $2.7B |
总资产LOGIWST
| Q4 25 | $4.1B | $4.3B | ||
| Q3 25 | $3.7B | $4.1B | ||
| Q2 25 | $3.7B | $4.0B | ||
| Q1 25 | $3.5B | $3.6B | ||
| Q4 24 | $3.7B | $3.6B | ||
| Q3 24 | $3.6B | $3.7B | ||
| Q2 24 | $3.7B | $3.5B | ||
| Q1 24 | $3.6B | $3.6B |
负债/权益比LOGIWST
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.08× |
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 | $480.5M | $251.1M |
| 自由现金流经营现金流 - 资本支出 | $465.6M | $175.0M |
| 自由现金流率自由现金流/营收 | 32.8% | 21.7% |
| 资本支出强度资本支出/营收 | 1.0% | 9.5% |
| 现金转化率经营现金流/净利润 | 1.91× | 1.90× |
| 过去12个月自由现金流最近4个季度 | $903.6M | $468.9M |
8季度趋势，按日历期对齐
经营现金流LOGIWST
| Q4 25 | $480.5M | $251.1M | ||
| Q3 25 | $228.8M | $197.2M | ||
| Q2 25 | $125.0M | $177.1M | ||
| Q1 25 | $129.7M | $129.4M | ||
| Q4 24 | $370.9M | $190.1M | ||
| Q3 24 | $166.0M | $180.1M | ||
| Q2 24 | $176.0M | $165.0M | ||
| Q1 24 | $239.1M | $118.2M |
自由现金流LOGIWST
| Q4 25 | $465.6M | $175.0M | ||
| Q3 25 | $212.3M | $133.9M | ||
| Q2 25 | $108.8M | $101.9M | ||
| Q1 25 | $116.9M | $58.1M | ||
| Q4 24 | $356.6M | $85.2M | ||
| Q3 24 | $151.5M | $98.8M | ||
| Q2 24 | $161.4M | $64.8M | ||
| Q1 24 | $228.8M | $27.6M |
自由现金流率LOGIWST
| Q4 25 | 32.8% | 21.7% | ||
| Q3 25 | 17.9% | 16.6% | ||
| Q2 25 | 9.5% | 13.3% | ||
| Q1 25 | 11.6% | 8.3% | ||
| Q4 24 | 26.6% | 11.4% | ||
| Q3 24 | 13.6% | 13.2% | ||
| Q2 24 | 14.8% | 9.2% | ||
| Q1 24 | 22.6% | 4.0% |
资本支出强度LOGIWST
| Q4 25 | 1.0% | 9.5% | ||
| Q3 25 | 1.4% | 7.9% | ||
| Q2 25 | 1.4% | 9.8% | ||
| Q1 25 | 1.3% | 10.2% | ||
| Q4 24 | 1.1% | 14.0% | ||
| Q3 24 | 1.3% | 10.9% | ||
| Q2 24 | 1.3% | 14.3% | ||
| Q1 24 | 1.0% | 13.0% |
现金转化率LOGIWST
| Q4 25 | 1.91× | 1.90× | ||
| Q3 25 | 1.34× | 1.41× | ||
| Q2 25 | 0.86× | 1.34× | ||
| Q1 25 | 0.90× | 1.44× | ||
| Q4 24 | 1.85× | 1.46× | ||
| Q3 24 | 1.14× | 1.32× | ||
| Q2 24 | 1.24× | 1.48× | ||
| Q1 24 | 1.43× | 1.03× |
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
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
WST
| Proprietary Products | $661.8M | 82% |
| Contract Manufactured Products | $143.2M | 18% |
| Affiliated Entity | $3.3M | 0% |
