vs
Lowe's（LOW）与拼多多（PDD）财务数据对比。点击上方公司名可切换其他公司
Lowe's的季度营收约是拼多多的1.4倍（$20.8B vs $15.2B），拼多多净利率更高（27.1% vs 7.8%，领先19.3%），过去两年拼多多的营收复合增速更高（74.6% vs -8.7%）
Lowe's是美国知名家居建材零售企业，总部位于北卡罗来纳州穆尔斯维尔，主营家居改善类相关产品的线下零售业务。截至2022年10月，该公司及旗下关联业务在北美地区共运营2181家家居建材及五金门店，服务普通消费者及专业装修从业人员。
PDD控股是总部位于爱尔兰的跨国企业，旗下拥有中国头部线上零售平台拼多多和跨境电商平台Temu。拼多多主打农业供应链数字化升级，助力农产品直接对接广大消费者需求。
LOW vs PDD — 直观对比
营收规模更大
LOW
是对方的1.4倍
$15.2B
净利率更高
PDD
高出19.3%
7.8%
两年增速更快
PDD
近两年复合增速
-8.7%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $20.8B | $15.2B |
| 净利润 | $1.6B | $4.1B |
| 毛利率 | 34.2% | 56.7% |
| 营业利润率 | 11.9% | 23.1% |
| 净利率 | 7.8% | 27.1% |
| 营收同比 | 3.2% | — |
| 净利润同比 | -4.7% | — |
| 每股收益（稀释后） | $2.88 | — |
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LOWPDD
| Q4 25 | $20.8B | — | ||
| Q3 25 | — | $15.2B | ||
| Q2 25 | $20.9B | $14.5B | ||
| Q4 24 | $20.2B | — | ||
| Q3 24 | $23.6B | $14.2B | ||
| Q2 24 | $21.4B | — | ||
| Q1 24 | $18.6B | $12.0B | ||
| Q4 23 | $20.5B | — |
净利润LOWPDD
| Q4 25 | $1.6B | — | ||
| Q3 25 | — | $4.1B | ||
| Q2 25 | $1.6B | $4.3B | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $2.4B | $3.6B | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.0B | $3.9B | ||
| Q4 23 | $1.8B | — |
毛利率LOWPDD
| Q4 25 | 34.2% | — | ||
| Q3 25 | — | 56.7% | ||
| Q2 25 | 33.4% | 55.9% | ||
| Q4 24 | 33.7% | — | ||
| Q3 24 | 33.5% | 60.0% | ||
| Q2 24 | 33.2% | — | ||
| Q1 24 | 32.4% | 62.3% | ||
| Q4 23 | 33.7% | — |
营业利润率LOWPDD
| Q4 25 | 11.9% | — | ||
| Q3 25 | — | 23.1% | ||
| Q2 25 | 11.9% | 24.8% | ||
| Q4 24 | 12.6% | — | ||
| Q3 24 | 14.6% | 24.5% | ||
| Q2 24 | 12.4% | — | ||
| Q1 24 | 9.1% | 29.9% | ||
| Q4 23 | 13.2% | — |
净利率LOWPDD
| Q4 25 | 7.8% | — | ||
| Q3 25 | — | 27.1% | ||
| Q2 25 | 7.8% | 29.6% | ||
| Q4 24 | 8.4% | — | ||
| Q3 24 | 10.1% | 25.1% | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | 5.5% | 32.3% | ||
| Q4 23 | 8.7% | — |
每股收益（稀释后）LOWPDD
| Q4 25 | $2.88 | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $2.92 | — | ||
| Q4 24 | $2.99 | — | ||
| Q3 24 | $4.17 | — | ||
| Q2 24 | $3.06 | — | ||
| Q1 24 | $1.81 | — | ||
| Q4 23 | $3.06 | — |
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 | $1.0B | $13.0B |
| 总债务越低越好 | $37.5B | — |
| 股东权益账面价值 | $-10.4B | $55.0B |
| 总资产 | $53.5B | $86.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LOWPDD
| Q4 25 | $1.0B | — | ||
| Q3 25 | — | $13.0B | ||
| Q2 25 | $3.4B | $8.8B | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $4.7B | $9.3B | ||
| Q2 24 | $3.5B | — | ||
| Q1 24 | $1.2B | $7.7B | ||
| Q4 23 | $1.5B | — |
总债务LOWPDD
| Q4 25 | $37.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $30.5B | — | ||
| Q4 24 | $32.9B | — | ||
| Q3 24 | $34.7B | — | ||
| Q2 24 | $34.6B | — | ||
| Q1 24 | $35.4B | — | ||
| Q4 23 | $35.4B | — |
股东权益LOWPDD
| Q4 25 | $-10.4B | — | ||
| Q3 25 | — | $55.0B | ||
| Q2 25 | $-13.3B | $50.5B | ||
| Q4 24 | $-13.4B | — | ||
| Q3 24 | $-13.8B | $39.7B | ||
| Q2 24 | $-14.6B | — | ||
| Q1 24 | $-15.1B | $30.3B | ||
| Q4 23 | $-15.1B | — |
总资产LOWPDD
| Q4 25 | $53.5B | — | ||
| Q3 25 | — | $86.2B | ||
| Q2 25 | $45.4B | $79.2B | ||
| Q4 24 | $44.7B | — | ||
| Q3 24 | $44.9B | $66.5B | ||
| Q2 24 | $45.4B | — | ||
| Q1 24 | $41.8B | $52.3B | ||
| Q4 23 | $42.5B | — |
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 | $687.0M | $6.4B |
| 自由现金流经营现金流 - 资本支出 | $90.0M | — |
| 自由现金流率自由现金流/营收 | 0.4% | — |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | 0.43× | 1.56× |
| 过去12个月自由现金流最近4个季度 | $6.4B | — |
8季度趋势，按日历期对齐
经营现金流LOWPDD
| Q4 25 | $687.0M | — | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | $3.4B | $3.0B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $3.2B | $3.9B | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $1.1B | $2.9B | ||
| Q4 23 | $1.1B | — |
自由现金流LOWPDD
| Q4 25 | $90.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $2.9B | — | ||
| Q4 24 | $728.0M | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $3.9B | — | ||
| Q1 24 | $488.0M | — | ||
| Q4 23 | $485.0M | — |
自由现金流率LOWPDD
| Q4 25 | 0.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 13.7% | — | ||
| Q4 24 | 3.6% | — | ||
| Q3 24 | 11.6% | — | ||
| Q2 24 | 18.2% | — | ||
| Q1 24 | 2.6% | — | ||
| Q4 23 | 2.4% | — |
资本支出强度LOWPDD
| Q4 25 | 2.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.5% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 3.3% | — | ||
| Q4 23 | 2.8% | — |
现金转化率LOWPDD
| Q4 25 | 0.43× | — | ||
| Q3 25 | — | 1.56× | ||
| Q2 25 | 2.06× | 0.70× | ||
| Q4 24 | 0.77× | — | ||
| Q3 24 | 1.32× | 1.10× | ||
| Q2 24 | 2.43× | — | ||
| Q1 24 | 1.09× | 0.75× | ||
| Q4 23 | 0.60× | — |
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
LOW
| Home Decor | $7.8B | 37% |
| Building Products | $6.9B | 33% |
| Hardlines | $5.1B | 25% |
| Services | $753.0M | 4% |
| Other | $384.0M | 2% |
PDD
暂无分部数据
