vs
Lowe's（LOW）与美国联合航空（UAL）财务数据对比。点击上方公司名可切换其他公司
Lowe's的季度营收约是美国联合航空的1.4倍（$20.8B vs $14.6B），Lowe's净利率更高（7.8% vs 4.8%，领先3.0%），美国联合航空同比增速更快（10.6% vs 3.2%），美国联合航空自由现金流更多（$2.0B vs $90.0M），过去两年美国联合航空的营收复合增速更高（-1.3% 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。
美国联合航空是美国主要航企，总部位于伊利诺伊州芝加哥，运营覆盖美国本土及六大洲的广阔国内外航线网络，区域航线由独立航司以美联航快运品牌运营，作为星空联盟五大创始航司之一，其航线网络可辐射全球各地。
LOW vs UAL — 直观对比
营收规模更大
LOW
是对方的1.4倍
$14.6B
营收增速更快
UAL
高出7.4%
3.2%
净利率更高
LOW
高出3.0%
4.8%
自由现金流更多
UAL
多$1.9B
$90.0M
两年增速更快
UAL
近两年复合增速
-8.7%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $20.8B | $14.6B |
| 净利润 | $1.6B | $699.0M |
| 毛利率 | 34.2% | — |
| 营业利润率 | 11.9% | 6.8% |
| 净利率 | 7.8% | 4.8% |
| 营收同比 | 3.2% | 10.6% |
| 净利润同比 | -4.7% | 80.6% |
| 每股收益（稀释后） | $2.88 | $2.14 |
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LOWUAL
| Q1 26 | — | $14.6B | ||
| Q4 25 | $20.8B | $15.4B | ||
| Q3 25 | — | $15.2B | ||
| Q2 25 | $20.9B | $15.2B | ||
| Q1 25 | — | $13.2B | ||
| Q4 24 | $20.2B | $14.7B | ||
| Q3 24 | $23.6B | $14.8B | ||
| Q2 24 | $21.4B | $15.0B |
净利润LOWUAL
| Q1 26 | — | $699.0M | ||
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | — | $949.0M | ||
| Q2 25 | $1.6B | $973.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | $1.7B | $985.0M | ||
| Q3 24 | $2.4B | $965.0M | ||
| Q2 24 | $1.8B | $1.3B |
毛利率LOWUAL
| Q1 26 | — | — | ||
| Q4 25 | 34.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 33.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 33.7% | — | ||
| Q3 24 | 33.5% | — | ||
| Q2 24 | 33.2% | — |
营业利润率LOWUAL
| Q1 26 | — | 6.8% | ||
| Q4 25 | 11.9% | 9.0% | ||
| Q3 25 | — | 9.2% | ||
| Q2 25 | 11.9% | 8.7% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | 12.6% | 10.2% | ||
| Q3 24 | 14.6% | 10.5% | ||
| Q2 24 | 12.4% | 12.9% |
净利率LOWUAL
| Q1 26 | — | 4.8% | ||
| Q4 25 | 7.8% | 6.8% | ||
| Q3 25 | — | 6.2% | ||
| Q2 25 | 7.8% | 6.4% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | 8.4% | 6.7% | ||
| Q3 24 | 10.1% | 6.5% | ||
| Q2 24 | 8.2% | 8.8% |
每股收益（稀释后）LOWUAL
| Q1 26 | — | $2.14 | ||
| Q4 25 | $2.88 | $3.17 | ||
| Q3 25 | — | $2.90 | ||
| Q2 25 | $2.92 | $2.97 | ||
| Q1 25 | — | $1.16 | ||
| Q4 24 | $2.99 | $2.97 | ||
| Q3 24 | $4.17 | $2.90 | ||
| Q2 24 | $3.06 | $3.96 |
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 | $14.2B |
| 总债务越低越好 | $37.5B | — |
| 股东权益账面价值 | $-10.4B | $15.9B |
| 总资产 | $53.5B | $80.9B |
| 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LOWUAL
| Q1 26 | — | $14.2B | ||
| Q4 25 | $1.0B | $12.2B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | $3.4B | $15.6B | ||
| Q1 25 | — | $15.3B | ||
| Q4 24 | $3.6B | $14.5B | ||
| Q3 24 | $4.7B | $14.2B | ||
| Q2 24 | $3.5B | $15.2B |
总债务LOWUAL
| Q1 26 | — | — | ||
| Q4 25 | $37.5B | $20.6B | ||
| Q3 25 | — | $20.8B | ||
| Q2 25 | $30.5B | $20.9B | ||
| Q1 25 | — | $24.4B | ||
| Q4 24 | $32.9B | $25.2B | ||
| Q3 24 | $34.7B | — | ||
| Q2 24 | $34.6B | — |
股东权益LOWUAL
| Q1 26 | — | $15.9B | ||
| Q4 25 | $-10.4B | $15.3B | ||
| Q3 25 | — | $14.3B | ||
| Q2 25 | $-13.3B | $13.4B | ||
| Q1 25 | — | $12.6B | ||
| Q4 24 | $-13.4B | $12.7B | ||
| Q3 24 | $-13.8B | $11.4B | ||
| Q2 24 | $-14.6B | $10.5B |
总资产LOWUAL
| Q1 26 | — | $80.9B | ||
| Q4 25 | $53.5B | $76.4B | ||
| Q3 25 | — | $76.3B | ||
| Q2 25 | $45.4B | $77.2B | ||
| Q1 25 | — | $76.1B | ||
| Q4 24 | $44.7B | $74.1B | ||
| Q3 24 | $44.9B | $72.6B | ||
| Q2 24 | $45.4B | $73.3B |
负债/权益比LOWUAL
| Q1 26 | — | — | ||
| Q4 25 | — | 1.35× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | — | 1.56× | ||
| Q1 25 | — | 1.93× | ||
| Q4 24 | — | 1.99× | ||
| 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 | $687.0M | $4.8B |
| 自由现金流经营现金流 - 资本支出 | $90.0M | $2.0B |
| 自由现金流率自由现金流/营收 | 0.4% | 13.9% |
| 资本支出强度资本支出/营收 | 2.9% | 13.9% |
| 现金转化率经营现金流/净利润 | 0.43× | 6.87× |
| 过去12个月自由现金流最近4个季度 | $6.4B | $2.1B |
8季度趋势，按日历期对齐
经营现金流LOWUAL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $687.0M | $1.3B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | $3.4B | $2.2B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | $1.3B | $2.2B | ||
| Q3 24 | $3.2B | $1.5B | ||
| Q2 24 | $4.3B | $2.9B |
自由现金流LOWUAL
| Q1 26 | — | $2.0B | ||
| Q4 25 | $90.0M | $-604.0M | ||
| Q3 25 | — | $-246.0M | ||
| Q2 25 | $2.9B | $930.0M | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $728.0M | $549.0M | ||
| Q3 24 | $2.7B | $88.0M | ||
| Q2 24 | $3.9B | $1.7B |
自由现金流率LOWUAL
| Q1 26 | — | 13.9% | ||
| Q4 25 | 0.4% | -3.9% | ||
| Q3 25 | — | -1.6% | ||
| Q2 25 | 13.7% | 6.1% | ||
| Q1 25 | — | 18.7% | ||
| Q4 24 | 3.6% | 3.7% | ||
| Q3 24 | 11.6% | 0.6% | ||
| Q2 24 | 18.2% | 11.4% |
资本支出强度LOWUAL
| Q1 26 | — | 13.9% | ||
| Q4 25 | 2.9% | 12.3% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | 2.5% | 8.4% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | 2.8% | 11.4% | ||
| Q3 24 | 1.8% | 9.5% | ||
| Q2 24 | 1.8% | 7.8% |
现金转化率LOWUAL
| Q1 26 | — | 6.87× | ||
| Q4 25 | 0.43× | 1.23× | ||
| Q3 25 | — | 1.28× | ||
| Q2 25 | 2.06× | 2.28× | ||
| Q1 25 | — | 9.59× | ||
| Q4 24 | 0.77× | 2.26× | ||
| Q3 24 | 1.32× | 1.55× | ||
| Q2 24 | 2.43× | 2.17× |
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% |
UAL
| Passenger revenue | $13.2B | 90% |
| Other | $1.0B | 7% |
| Cargo revenue | $422.0M | 3% |
