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LPL Financial Holdings Inc.（LPLA）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
Smurfit Westrock的季度营收约是LPL Financial Holdings Inc.的1.5倍（$7.6B vs $4.9B），LPL Financial Holdings Inc.净利率更高（6.1% vs 1.3%，领先4.8%），LPL Financial Holdings Inc.同比增速更快（40.4% vs 0.5%），LPL Financial Holdings Inc.自由现金流更多（$613.3M vs $612.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 32.0%）
LPL Financial Holdings Inc.成立于1989年，是美国规模最大的独立经纪自营商。截至2021年，公司拥有超17500名财务顾问，咨询及经纪类资产规模超1万亿美元，2023财年总营收约103亿美元，在波士顿、福特米尔、奥斯汀、圣迭戈设有核心办事处，是FINRA和SIPC成员。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
LPLA vs SW — 直观对比
营收规模更大
SW
是对方的1.5倍
$4.9B
营收增速更快
LPLA
高出39.9%
0.5%
净利率更高
LPLA
高出4.8%
1.3%
自由现金流更多
LPLA
多$1.3M
$612.0M
两年增速更快
SW
近两年复合增速
32.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $7.6B |
| 净利润 | $300.7M | $97.0M |
| 毛利率 | — | 18.2% |
| 营业利润率 | 8.1% | 5.1% |
| 净利率 | 6.1% | 1.3% |
| 营收同比 | 40.4% | 0.5% |
| 净利润同比 | 11.1% | -33.6% |
| 每股收益（稀释后） | $3.65 | $0.18 |
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LPLASW
| Q4 25 | $4.9B | $7.6B | ||
| Q3 25 | $4.6B | $8.0B | ||
| Q2 25 | $3.8B | $7.9B | ||
| Q1 25 | $3.7B | $7.7B | ||
| Q4 24 | $3.5B | $7.5B | ||
| Q3 24 | $3.1B | $7.7B | ||
| Q2 24 | $2.9B | $3.0B | ||
| Q1 24 | $2.8B | $2.9B |
净利润LPLASW
| Q4 25 | $300.7M | $97.0M | ||
| Q3 25 | $-29.5M | $246.0M | ||
| Q2 25 | $273.2M | $-28.0M | ||
| Q1 25 | $318.6M | $384.0M | ||
| Q4 24 | $270.7M | $146.0M | ||
| Q3 24 | $255.3M | $-150.0M | ||
| Q2 24 | $243.8M | $132.0M | ||
| Q1 24 | $288.8M | $191.0M |
毛利率LPLASW
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% | ||
| Q1 24 | — | 24.2% |
营业利润率LPLASW
| Q4 25 | 8.1% | 5.1% | ||
| Q3 25 | -0.7% | 6.6% | ||
| Q2 25 | 9.6% | 3.2% | ||
| Q1 25 | 11.4% | 7.2% | ||
| Q4 24 | 9.7% | 5.3% | ||
| Q3 24 | 11.2% | 0.7% | ||
| Q2 24 | 11.3% | 8.2% | ||
| Q1 24 | 13.2% | 10.5% |
净利率LPLASW
| Q4 25 | 6.1% | 1.3% | ||
| Q3 25 | -0.6% | 3.1% | ||
| Q2 25 | 7.1% | -0.4% | ||
| Q1 25 | 8.7% | 5.0% | ||
| Q4 24 | 7.7% | 1.9% | ||
| Q3 24 | 8.2% | -2.0% | ||
| Q2 24 | 8.3% | 4.4% | ||
| Q1 24 | 10.2% | 6.5% |
每股收益（稀释后）LPLASW
| Q4 25 | $3.65 | $0.18 | ||
| Q3 25 | $-0.37 | $0.47 | ||
| Q2 25 | $3.40 | $-0.05 | ||
| Q1 25 | $4.24 | $0.73 | ||
| Q4 24 | $3.58 | $-0.12 | ||
| Q3 24 | $3.39 | $-0.30 | ||
| Q2 24 | $3.23 | $0.51 | ||
| Q1 24 | $3.83 | $0.73 |
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 | $1.1B | $892.0M |
| 总债务越低越好 | $7.3B | $13.4B |
| 股东权益账面价值 | $5.3B | $18.3B |
| 总资产 | $18.5B | $45.2B |
| 负债/权益比越低杠杆越低 | 1.36× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资LPLASW
| Q4 25 | $1.1B | $892.0M | ||
| Q3 25 | $1.6B | $851.0M | ||
| Q2 25 | $4.3B | $778.0M | ||
| Q1 25 | $1.4B | $797.0M | ||
| Q4 24 | $1.0B | $855.0M | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.4B | $26.8K | ||
| Q1 24 | $1.2B | $108 |
总债务LPLASW
| Q4 25 | $7.3B | $13.4B | ||
| Q3 25 | $7.5B | $13.3B | ||
| Q2 25 | $7.2B | $13.3B | ||
| Q1 25 | $5.7B | $12.9B | ||
| Q4 24 | $5.5B | $12.5B | ||
| Q3 24 | $4.4B | $13.2B | ||
| Q2 24 | $4.4B | — | ||
| Q1 24 | $3.9B | — |
股东权益LPLASW
| Q4 25 | $5.3B | $18.3B | ||
| Q3 25 | $5.0B | $18.4B | ||
| Q2 25 | $5.1B | $18.3B | ||
| Q1 25 | $3.1B | $17.9B | ||
| Q4 24 | $2.9B | $17.4B | ||
| Q3 24 | $2.8B | $18.0B | ||
| Q2 24 | $2.5B | $14.5K | ||
| Q1 24 | $2.3B | $108 |
总资产LPLASW
| Q4 25 | $18.5B | $45.2B | ||
| Q3 25 | $18.0B | $45.6B | ||
| Q2 25 | $17.5B | $45.7B | ||
| Q1 25 | $14.0B | $44.6B | ||
| Q4 24 | $13.3B | $43.8B | ||
| Q3 24 | $11.9B | $45.0B | ||
| Q2 24 | $11.5B | $26.8K | ||
| Q1 24 | $11.0B | $108 |
负债/权益比LPLASW
| Q4 25 | 1.36× | 0.73× | ||
| Q3 25 | 1.49× | 0.72× | ||
| Q2 25 | 1.41× | 0.73× | ||
| Q1 25 | 1.82× | 0.72× | ||
| Q4 24 | 1.87× | 0.72× | ||
| Q3 24 | 1.60× | 0.73× | ||
| Q2 24 | 1.77× | — | ||
| Q1 24 | 1.70× | — |
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 | $785.0M | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $613.3M | $612.0M |
| 自由现金流率自由现金流/营收 | 12.4% | 8.1% |
| 资本支出强度资本支出/营收 | 3.5% | 7.7% |
| 现金转化率经营现金流/净利润 | 2.61× | 12.32× |
| 过去12个月自由现金流最近4个季度 | $-981.8M | $1.2B |
8季度趋势，按日历期对齐
经营现金流LPLASW
| Q4 25 | $785.0M | $1.2B | ||
| Q3 25 | $-1.7B | $1.1B | ||
| Q2 25 | $193.3M | $829.0M | ||
| Q1 25 | $339.8M | $235.0M | ||
| Q4 24 | $-178.8M | $781.0M | ||
| Q3 24 | $209.3M | $320.0M | ||
| Q2 24 | $-178.9M | $340.0M | ||
| Q1 24 | $425.9M | $42.0M |
自由现金流LPLASW
| Q4 25 | $613.3M | $612.0M | ||
| Q3 25 | $-1.9B | $523.0M | ||
| Q2 25 | $56.3M | $307.0M | ||
| Q1 25 | $220.3M | $-242.0M | ||
| Q4 24 | $-344.3M | $212.0M | ||
| Q3 24 | $62.3M | $-192.0M | ||
| Q2 24 | $-307.8M | $163.0M | ||
| Q1 24 | $304.9M | $-166.0M |
自由现金流率LPLASW
| Q4 25 | 12.4% | 8.1% | ||
| Q3 25 | -41.1% | 6.5% | ||
| Q2 25 | 1.5% | 3.9% | ||
| Q1 25 | 6.0% | -3.2% | ||
| Q4 24 | -9.8% | 2.8% | ||
| Q3 24 | 2.0% | -2.5% | ||
| Q2 24 | -10.5% | 5.5% | ||
| Q1 24 | 10.8% | -5.7% |
资本支出强度LPLASW
| Q4 25 | 3.5% | 7.7% | ||
| Q3 25 | 3.1% | 7.6% | ||
| Q2 25 | 3.6% | 6.6% | ||
| Q1 25 | 3.3% | 6.2% | ||
| Q4 24 | 4.7% | 7.5% | ||
| Q3 24 | 4.7% | 6.7% | ||
| Q2 24 | 4.4% | 6.0% | ||
| Q1 24 | 4.3% | 7.1% |
现金转化率LPLASW
| Q4 25 | 2.61× | 12.32× | ||
| Q3 25 | — | 4.61× | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 1.07× | 0.61× | ||
| Q4 24 | -0.66× | 5.35× | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | -0.73× | 2.58× | ||
| Q1 24 | 1.47× | 0.22× |
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
LPLA
暂无分部数据
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
