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LOUISIANA-PACIFIC CORP（LPX）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是LOUISIANA-PACIFIC CORP的1.8倍（$1.0B vs $566.0M），思佳讯净利率更高（7.6% vs -1.4%，领先9.1%），思佳讯同比增速更快（8.6% vs -16.9%），思佳讯自由现金流更多（$339.0M vs $-8.0M），过去两年思佳讯的营收复合增速更高（-0.5% vs -11.6%）
路易斯安那-太平洋公司（简称LP）是美国知名建材制造商，成立于1973年，是美国定向结构刨花板（OSB）生产的开创者，总部现位于田纳西州纳什维尔。作为全球最大的OSB生产商，公司还生产工程木建材产品，通过建材分销商、经销商及家居零售中心向建筑商和业主供货。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
LPX vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.8倍
$566.0M
营收增速更快
SWKS
高出25.5%
-16.9%
净利率更高
SWKS
高出9.1%
-1.4%
自由现金流更多
SWKS
多$347.0M
$-8.0M
两年增速更快
SWKS
近两年复合增速
-11.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $566.0M | $1.0B |
| 净利润 | $-8.0M | $79.2M |
| 毛利率 | 15.0% | 41.3% |
| 营业利润率 | -1.6% | 10.0% |
| 净利率 | -1.4% | 7.6% |
| 营收同比 | -16.9% | 8.6% |
| 净利润同比 | -112.9% | 15.3% |
| 每股收益（稀释后） | $-0.12 | $0.53 |
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LPXSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $566.0M | $1.1B | ||
| Q3 25 | $663.0M | — | ||
| Q2 25 | $755.0M | $965.0M | ||
| Q1 25 | $724.0M | $953.2M | ||
| Q4 24 | $681.0M | $1.1B | ||
| Q3 24 | $722.0M | $1.0B | ||
| Q2 24 | $814.0M | $905.5M |
净利润LPXSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $-8.0M | $141.4M | ||
| Q3 25 | $9.0M | — | ||
| Q2 25 | $54.0M | $105.0M | ||
| Q1 25 | $91.0M | $68.7M | ||
| Q4 24 | $62.0M | $162.0M | ||
| Q3 24 | $90.0M | $60.5M | ||
| Q2 24 | $160.0M | $120.9M |
毛利率LPXSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 15.0% | 40.7% | ||
| Q3 25 | 19.5% | — | ||
| Q2 25 | 23.6% | 41.6% | ||
| Q1 25 | 27.2% | 41.1% | ||
| Q4 24 | 23.8% | 41.4% | ||
| Q3 24 | 26.7% | 41.9% | ||
| Q2 24 | 32.3% | 40.2% |
营业利润率LPXSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | -1.6% | 10.1% | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 10.6% | 11.5% | ||
| Q1 25 | 16.6% | 10.2% | ||
| Q4 24 | 11.0% | 16.9% | ||
| Q3 24 | 16.1% | 5.8% | ||
| Q2 24 | 23.8% | 14.4% |
净利率LPXSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | -1.4% | 12.9% | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 7.2% | 10.9% | ||
| Q1 25 | 12.6% | 7.2% | ||
| Q4 24 | 9.1% | 15.2% | ||
| Q3 24 | 12.5% | 5.9% | ||
| Q2 24 | 19.7% | 13.4% |
每股收益（稀释后）LPXSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $-0.12 | $0.95 | ||
| Q3 25 | $0.13 | — | ||
| Q2 25 | $0.77 | $0.70 | ||
| Q1 25 | $1.30 | $0.43 | ||
| Q4 24 | $0.90 | $1.00 | ||
| Q3 24 | $1.28 | $0.36 | ||
| Q2 24 | $2.23 | $0.75 |
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 | $292.0M | $1.6B |
| 总债务越低越好 | $348.0M | $496.6M |
| 股东权益账面价值 | $1.7B | $5.8B |
| 总资产 | $2.6B | $7.9B |
| 负债/权益比越低杠杆越低 | 0.20× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资LPXSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $292.0M | $1.4B | ||
| Q3 25 | $316.0M | — | ||
| Q2 25 | $333.0M | $1.3B | ||
| Q1 25 | $256.0M | $1.5B | ||
| Q4 24 | $340.0M | $1.7B | ||
| Q3 24 | $346.0M | $1.6B | ||
| Q2 24 | $317.0M | $1.3B |
总债务LPXSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $348.0M | $496.4M | ||
| Q3 25 | $348.0M | — | ||
| Q2 25 | $348.0M | $496.2M | ||
| Q1 25 | $348.0M | $995.1M | ||
| Q4 24 | $348.0M | $994.7M | ||
| Q3 24 | $347.0M | $994.3M | ||
| Q2 24 | $347.0M | $994.0M |
股东权益LPXSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $1.7B | $5.8B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | $5.7B | ||
| Q1 25 | $1.7B | $5.9B | ||
| Q4 24 | $1.7B | $6.4B | ||
| Q3 24 | $1.7B | $6.3B | ||
| Q2 24 | $1.7B | $6.3B |
总资产LPXSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $2.6B | $7.9B | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.7B | $7.7B | ||
| Q1 25 | $2.6B | $7.9B | ||
| Q4 24 | $2.6B | $8.3B | ||
| Q3 24 | $2.6B | $8.3B | ||
| Q2 24 | $2.5B | $8.2B |
负债/权益比LPXSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 0.20× | 0.09× | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.20× | 0.09× | ||
| Q1 25 | 0.21× | 0.17× | ||
| Q4 24 | 0.21× | 0.16× | ||
| Q3 24 | 0.21× | 0.16× | ||
| Q2 24 | 0.21× | 0.16× |
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 | $67.0M | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $-8.0M | $339.0M |
| 自由现金流率自由现金流/营收 | -1.4% | 32.7% |
| 资本支出强度资本支出/营收 | 13.3% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 4.99× |
| 过去12个月自由现金流最近4个季度 | $91.0M | $1.1B |
8季度趋势，按日历期对齐
经营现金流LPXSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $67.0M | $200.0M | ||
| Q3 25 | $89.0M | — | ||
| Q2 25 | $162.0M | $314.2M | ||
| Q1 25 | $64.0M | $409.4M | ||
| Q4 24 | $105.0M | $377.2M | ||
| Q3 24 | $183.0M | $476.1M | ||
| Q2 24 | $212.0M | $273.4M |
自由现金流LPXSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $-8.0M | $144.0M | ||
| Q3 25 | $5.0M | — | ||
| Q2 25 | $94.0M | $252.7M | ||
| Q1 25 | $0 | $370.9M | ||
| Q4 24 | $43.0M | $338.2M | ||
| Q3 24 | $139.0M | $393.3M | ||
| Q2 24 | $176.0M | $249.0M |
自由现金流率LPXSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | -1.4% | 13.1% | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 12.5% | 26.2% | ||
| Q1 25 | 0.0% | 38.9% | ||
| Q4 24 | 6.3% | 31.7% | ||
| Q3 24 | 19.3% | 38.4% | ||
| Q2 24 | 21.6% | 27.5% |
资本支出强度LPXSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 13.3% | 5.1% | ||
| Q3 25 | 12.7% | — | ||
| Q2 25 | 9.0% | 6.4% | ||
| Q1 25 | 8.8% | 4.0% | ||
| Q4 24 | 9.1% | 3.6% | ||
| Q3 24 | 6.1% | 8.1% | ||
| Q2 24 | 4.4% | 2.7% |
现金转化率LPXSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | 9.89× | — | ||
| Q2 25 | 3.00× | 2.99× | ||
| Q1 25 | 0.70× | 5.96× | ||
| Q4 24 | 1.69× | 2.33× | ||
| Q3 24 | 2.03× | 7.87× | ||
| Q2 24 | 1.32× | 2.26× |
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
LPX
| OS Bvalueadd | $472.0M | 83% |
| Other | $84.0M | 15% |
| Otherproducts | $10.0M | 2% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
