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西南航空（LUV）与德事隆（TXT）财务数据对比。点击上方公司名可切换其他公司
西南航空的季度营收约是德事隆的1.7倍（$7.2B vs $4.2B），德事隆净利率更高（5.6% vs 3.1%，领先2.5%），德事隆同比增速更快（15.6% vs 12.8%），过去两年德事隆的营收复合增速更高（15.4% vs -0.7%）
西南航空是美国知名低成本航空公司，总部位于得克萨斯州达拉斯市洛夫菲尔德片区。截至2024年，按客运量计算其为北美第四大航空公司，旗下机队全部采用波音737机型，运营航线覆盖美国42个州、华盛顿哥伦比亚特区的100余个目的地。
德事隆是总部位于美国罗德岛州普罗维登斯的工业集团，1923年由罗亚尔·利特尔创立，前身为特种纱线公司。旗下拥有贝尔德事隆、考泰斯、德事隆航空、莱康明发动机等子公司，业务覆盖25个国家，2020年员工总数超3.3万人，2021年位列美国财富500强第265位。
LUV vs TXT — 直观对比
营收规模更大
LUV
是对方的1.7倍
$4.2B
营收增速更快
TXT
高出2.8%
12.8%
净利率更高
TXT
高出2.5%
3.1%
两年增速更快
TXT
近两年复合增速
-0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.2B | $4.2B |
| 净利润 | $227.0M | $235.0M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 3.1% | 5.6% |
| 营收同比 | 12.8% | 15.6% |
| 净利润同比 | 252.3% | 66.7% |
| 每股收益（稀释后） | $0.45 | — |
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LUVTXT
| Q1 26 | $7.2B | — | ||
| Q4 25 | $7.4B | $4.2B | ||
| Q3 25 | $6.9B | $3.6B | ||
| Q2 25 | $7.2B | $3.7B | ||
| Q1 25 | $6.4B | $3.3B | ||
| Q4 24 | $6.9B | $3.6B | ||
| Q3 24 | $6.9B | $3.4B | ||
| Q2 24 | $7.4B | $3.5B |
净利润LUVTXT
| Q1 26 | $227.0M | — | ||
| Q4 25 | $323.0M | $235.0M | ||
| Q3 25 | $54.0M | $234.0M | ||
| Q2 25 | $213.0M | $245.0M | ||
| Q1 25 | $-149.0M | $207.0M | ||
| Q4 24 | $262.0M | $141.0M | ||
| Q3 24 | $67.0M | $223.0M | ||
| Q2 24 | $367.0M | $259.0M |
营业利润率LUVTXT
| Q1 26 | — | — | ||
| Q4 25 | 5.3% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | -3.5% | — | ||
| Q4 24 | 4.0% | 3.6% | ||
| Q3 24 | 0.6% | 7.4% | ||
| Q2 24 | 5.4% | 9.2% |
净利率LUVTXT
| Q1 26 | 3.1% | — | ||
| Q4 25 | 4.3% | 5.6% | ||
| Q3 25 | 0.8% | 6.5% | ||
| Q2 25 | 2.9% | 6.6% | ||
| Q1 25 | -2.3% | 6.3% | ||
| Q4 24 | 3.8% | 3.9% | ||
| Q3 24 | 1.0% | 6.5% | ||
| Q2 24 | 5.0% | 7.3% |
每股收益（稀释后）LUVTXT
| Q1 26 | $0.45 | — | ||
| Q4 25 | $0.56 | — | ||
| Q3 25 | $0.10 | — | ||
| Q2 25 | $0.39 | — | ||
| Q1 25 | $-0.26 | $1.13 | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $0.11 | — | ||
| Q2 24 | $0.58 | — |
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 | $3.3B | — |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $6.9B | — |
| 总资产 | $20.4B | — |
| 负债/权益比越低杠杆越低 | 0.78× | — |
8季度趋势，按日历期对齐
现金及短期投资LUVTXT
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.8B | — | ||
| Q1 25 | $8.3B | — | ||
| Q4 24 | $8.7B | — | ||
| Q3 24 | $9.4B | — | ||
| Q2 24 | $10.0B | — |
总债务LUVTXT
| Q1 26 | $5.4B | — | ||
| Q4 25 | $4.6B | — | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.1B | — |
股东权益LUVTXT
| Q1 26 | $6.9B | — | ||
| Q4 25 | $8.0B | — | ||
| Q3 25 | $7.8B | $7.5B | ||
| Q2 25 | $8.0B | $7.4B | ||
| Q1 25 | $9.4B | $7.3B | ||
| Q4 24 | $10.3B | $7.2B | ||
| Q3 24 | $10.4B | $7.0B | ||
| Q2 24 | $10.5B | $6.9B |
总资产LUVTXT
| Q1 26 | $20.4B | — | ||
| Q4 25 | $29.1B | — | ||
| Q3 25 | $28.3B | $17.4B | ||
| Q2 25 | $28.7B | $17.1B | ||
| Q1 25 | $33.2B | $16.9B | ||
| Q4 24 | $33.8B | $16.8B | ||
| Q3 24 | $34.8B | $16.5B | ||
| Q2 24 | $35.6B | $16.4B |
负债/权益比LUVTXT
| Q1 26 | 0.78× | — | ||
| Q4 25 | 0.57× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 0.51× | — | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.49× | — | ||
| Q3 24 | 0.49× | — | ||
| Q2 24 | 0.48× | — |
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 | $1.4B | $700.0M |
| 自由现金流经营现金流 - 资本支出 | — | $527.0M |
| 自由现金流率自由现金流/营收 | — | 12.6% |
| 资本支出强度资本支出/营收 | 8.7% | 4.1% |
| 现金转化率经营现金流/净利润 | 6.25× | 2.98× |
| 过去12个月自由现金流最近4个季度 | — | $929.0M |
8季度趋势，按日历期对齐
经营现金流LUVTXT
| Q1 26 | $1.4B | — | ||
| Q4 25 | $294.0M | $700.0M | ||
| Q3 25 | $287.0M | $349.0M | ||
| Q2 25 | $401.0M | $387.0M | ||
| Q1 25 | $860.0M | $-124.0M | ||
| Q4 24 | $476.0M | $446.0M | ||
| Q3 24 | $113.0M | $208.0M | ||
| Q2 24 | $-23.0M | $367.0M |
自由现金流LUVTXT
| Q1 26 | — | — | ||
| Q4 25 | $-565.0M | $527.0M | ||
| Q3 25 | $-391.0M | $273.0M | ||
| Q2 25 | $-234.0M | $309.0M | ||
| Q1 25 | $359.0M | $-180.0M | ||
| Q4 24 | $16.0M | $293.0M | ||
| Q3 24 | $-404.0M | $137.0M | ||
| Q2 24 | $-517.0M | $293.0M |
自由现金流率LUVTXT
| Q1 26 | — | — | ||
| Q4 25 | -7.6% | 12.6% | ||
| Q3 25 | -5.6% | 7.6% | ||
| Q2 25 | -3.2% | 8.3% | ||
| Q1 25 | 5.6% | -5.4% | ||
| Q4 24 | 0.2% | 8.1% | ||
| Q3 24 | -5.9% | 4.0% | ||
| Q2 24 | -7.0% | 8.3% |
资本支出强度LUVTXT
| Q1 26 | 8.7% | — | ||
| Q4 25 | 11.5% | 4.1% | ||
| Q3 25 | 9.8% | 2.1% | ||
| Q2 25 | 8.8% | 2.1% | ||
| Q1 25 | 7.8% | 1.7% | ||
| Q4 24 | 6.6% | 4.2% | ||
| Q3 24 | 7.5% | 2.1% | ||
| Q2 24 | 6.7% | 2.1% |
现金转化率LUVTXT
| Q1 26 | 6.25× | — | ||
| Q4 25 | 0.91× | 2.98× | ||
| Q3 25 | 5.31× | 1.49× | ||
| Q2 25 | 1.88× | 1.58× | ||
| Q1 25 | — | -0.60× | ||
| Q4 24 | 1.82× | 3.16× | ||
| Q3 24 | 1.69× | 0.93× | ||
| Q2 24 | -0.06× | 1.42× |
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
LUV
| Passenger | $6.6B | 91% |
| Other | $614.0M | 8% |
| Freight | $44.0M | 1% |
TXT
| Aircraft | $1.2B | 29% |
| Military Aircraft And Support Programs | $655.0M | 16% |
| Aftermarket Parts And Services | $551.0M | 13% |
| Services | $507.0M | 12% |
| Fuel Systems And Functional Components | $480.0M | 11% |
| Textron Systems | $323.0M | 8% |
| Other | $317.0M | 8% |
| US Government | $119.0M | 3% |
| Finance | $18.0M | 0% |
| Textron E Aviation Segment | $7.0M | 0% |
