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3M（MMM）与NCR Atleos Corp（NATL）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是NCR Atleos Corp的5.2倍（$6.0B vs $1.2B）。3M净利率更高（10.8% vs 7.2%，领先3.6%）。NCR Atleos Corp同比增速更快（4.0% vs 1.3%）。3M自由现金流更多（$2.0B vs $194.0M）。过去两年NCR Atleos Corp的营收复合增速更高（4.9% vs -1.8%）
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
NCR Atleos Corp 前身为NCR公司（National Cash Register），是全球知名的软件、咨询与技术企业，提供多元专业服务与电子产品，业务覆盖自助服务 kiosk、销售点终端、自动柜员机、支票处理系统、条码扫描器等商用软硬件的研发与生产，服务全球各行业客户的数字化运营需求。
MMM vs NATL — 直观对比
营收规模更大
MMM
是对方的5.2倍
$1.2B
营收增速更快
NATL
高出2.7%
1.3%
净利率更高
MMM
高出3.6%
7.2%
自由现金流更多
MMM
多$1.8B
$194.0M
两年增速更快
NATL
近两年复合增速
-1.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $1.2B |
| 净利润 | $653.0M | $83.0M |
| 毛利率 | 40.7% | — |
| 营业利润率 | 23.2% | 13.5% |
| 净利率 | 10.8% | 7.2% |
| 营收同比 | 1.3% | 4.0% |
| 净利润同比 | -41.5% | 102.4% |
| 每股收益（稀释后） | $1.23 | $1.09 |
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MMMNATL
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $1.2B | ||
| Q3 25 | $6.5B | $1.1B | ||
| Q2 25 | $6.3B | $1.1B | ||
| Q1 25 | $6.0B | $979.0M | ||
| Q4 24 | $6.0B | $1.1B | ||
| Q3 24 | $6.3B | $1.1B | ||
| Q2 24 | $6.3B | $1.1B |
净利润MMMNATL
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $83.0M | ||
| Q3 25 | $834.0M | $26.0M | ||
| Q2 25 | $723.0M | $39.0M | ||
| Q1 25 | $1.1B | $14.0M | ||
| Q4 24 | $728.0M | $41.0M | ||
| Q3 24 | $1.4B | $21.0M | ||
| Q2 24 | $1.1B | $27.0M |
毛利率MMMNATL
| Q1 26 | 40.7% | — | ||
| Q4 25 | 33.6% | — | ||
| Q3 25 | 41.8% | — | ||
| Q2 25 | 42.5% | — | ||
| Q1 25 | 41.6% | — | ||
| Q4 24 | 51.7% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | 42.9% | — |
营业利润率MMMNATL
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | 13.5% | ||
| Q3 25 | 22.2% | 9.8% | ||
| Q2 25 | 18.0% | 10.8% | ||
| Q1 25 | 20.9% | 9.5% | ||
| Q4 24 | 12.2% | 13.4% | ||
| Q3 24 | 20.9% | 10.6% | ||
| Q2 24 | 20.3% | 9.8% |
净利率MMMNATL
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | 7.2% | ||
| Q3 25 | 12.8% | 2.3% | ||
| Q2 25 | 11.4% | 3.5% | ||
| Q1 25 | 18.7% | 1.4% | ||
| Q4 24 | 12.1% | 3.7% | ||
| Q3 24 | 21.8% | 2.0% | ||
| Q2 24 | 18.3% | 2.5% |
每股收益（稀释后）MMMNATL
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $1.09 | ||
| Q3 25 | $1.55 | $0.34 | ||
| Q2 25 | $1.34 | $0.52 | ||
| Q1 25 | $2.04 | $0.19 | ||
| Q4 24 | $1.33 | $0.56 | ||
| Q3 24 | $2.48 | $0.28 | ||
| Q2 24 | $2.07 | $0.37 |
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 | $3.7B | $456.0M |
| 总债务越低越好 | $10.9B | $2.7B |
| 股东权益账面价值 | $3.3B | $403.0M |
| 总资产 | $35.4B | $5.7B |
| 负债/权益比越低杠杆越低 | 3.29× | 6.63× |
8季度趋势，按日历期对齐
现金及短期投资MMMNATL
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $456.0M | ||
| Q3 25 | — | $412.0M | ||
| Q2 25 | — | $357.0M | ||
| Q1 25 | — | $352.0M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | — | $395.0M | ||
| Q2 24 | — | $374.0M |
总债务MMMNATL
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | $2.7B | ||
| Q3 25 | $12.6B | $2.8B | ||
| Q2 25 | $13.1B | $2.8B | ||
| Q1 25 | $13.5B | — | ||
| Q4 24 | $13.0B | $2.9B | ||
| Q3 24 | $13.2B | — | ||
| Q2 24 | $13.1B | — |
股东权益MMMNATL
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $403.0M | ||
| Q3 25 | $4.6B | $330.0M | ||
| Q2 25 | $4.3B | $350.0M | ||
| Q1 25 | $4.5B | $275.0M | ||
| Q4 24 | $3.8B | $219.0M | ||
| Q3 24 | $4.6B | $264.0M | ||
| Q2 24 | $3.9B | $250.0M |
总资产MMMNATL
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $5.7B | ||
| Q3 25 | $37.6B | $5.7B | ||
| Q2 25 | $38.0B | $5.8B | ||
| Q1 25 | $40.0B | $5.7B | ||
| Q4 24 | $39.9B | $5.5B | ||
| Q3 24 | $40.9B | $5.7B | ||
| Q2 24 | $43.4B | $5.8B |
负债/权益比MMMNATL
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | 6.63× | ||
| Q3 25 | 2.72× | 8.45× | ||
| Q2 25 | 3.06× | 8.05× | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.40× | 13.05× | ||
| Q3 24 | 2.84× | — | ||
| Q2 24 | 3.34× | — |
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 | — | $231.0M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $194.0M |
| 自由现金流率自由现金流/营收 | 33.6% | 16.8% |
| 资本支出强度资本支出/营收 | — | 3.2% |
| 现金转化率经营现金流/净利润 | — | 2.78× |
| 过去12个月自由现金流最近4个季度 | $3.7B | $239.0M |
8季度趋势，按日历期对齐
经营现金流MMMNATL
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $231.0M | ||
| Q3 25 | $1.8B | $25.0M | ||
| Q2 25 | $-954.0M | $-23.0M | ||
| Q1 25 | $-79.0M | $123.0M | ||
| Q4 24 | $1.8B | $80.0M | ||
| Q3 24 | $-1.8B | $107.0M | ||
| Q2 24 | $1.0B | $9.0M |
自由现金流MMMNATL
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $194.0M | ||
| Q3 25 | $1.5B | $-5.0M | ||
| Q2 25 | $-1.2B | $-44.0M | ||
| Q1 25 | $-315.0M | $94.0M | ||
| Q4 24 | $1.5B | $62.0M | ||
| Q3 24 | $-2.0B | $85.0M | ||
| Q2 24 | $752.0M | $-14.0M |
自由现金流率MMMNATL
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | 16.8% | ||
| Q3 25 | 23.6% | -0.4% | ||
| Q2 25 | -18.3% | -4.0% | ||
| Q1 25 | -5.3% | 9.6% | ||
| Q4 24 | 25.4% | 5.6% | ||
| Q3 24 | -32.3% | 7.9% | ||
| Q2 24 | 12.0% | -1.3% |
资本支出强度MMMNATL
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 3.2% | ||
| Q3 25 | 3.3% | 2.7% | ||
| Q2 25 | 3.3% | 1.9% | ||
| Q1 25 | 4.0% | 3.0% | ||
| Q4 24 | 4.8% | 1.6% | ||
| Q3 24 | 3.9% | 2.1% | ||
| Q2 24 | 4.3% | 2.1% |
现金转化率MMMNATL
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | 2.78× | ||
| Q3 25 | 2.11× | 0.96× | ||
| Q2 25 | -1.32× | -0.59× | ||
| Q1 25 | -0.07× | 8.79× | ||
| Q4 24 | 2.50× | 1.95× | ||
| Q3 24 | -1.30× | 5.10× | ||
| Q2 24 | 0.89× | 0.33× |
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
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
