vs
3M（MMM）与Rocket Lab Corp（RKLB）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Rocket Lab Corp的33.6倍（$6.0B vs $179.7M）。3M净利率更高（10.8% vs -29.5%，领先40.3%）。Rocket Lab Corp同比增速更快（35.7% vs 1.3%）。3M自由现金流更多（$2.0B vs $-114.2M）。过去两年Rocket Lab Corp的营收复合增速更高（39.2% 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。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
MMM vs RKLB — 直观对比
营收规模更大
MMM
是对方的33.6倍
$179.7M
营收增速更快
RKLB
高出34.4%
1.3%
净利率更高
MMM
高出40.3%
-29.5%
自由现金流更多
MMM
多$2.1B
$-114.2M
两年增速更快
RKLB
近两年复合增速
-1.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $179.7M |
| 净利润 | $653.0M | $-52.9M |
| 毛利率 | 40.7% | 38.0% |
| 营业利润率 | 23.2% | -28.4% |
| 净利率 | 10.8% | -29.5% |
| 营收同比 | 1.3% | 35.7% |
| 净利润同比 | -41.5% | -1.1% |
| 每股收益（稀释后） | $1.23 | $-0.09 |
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MMMRKLB
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $179.7M | ||
| Q3 25 | $6.5B | $155.1M | ||
| Q2 25 | $6.3B | $144.5M | ||
| Q1 25 | $6.0B | $122.6M | ||
| Q4 24 | $6.0B | $132.4M | ||
| Q3 24 | $6.3B | $104.8M | ||
| Q2 24 | $6.3B | $106.3M |
净利润MMMRKLB
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $-52.9M | ||
| Q3 25 | $834.0M | $-18.3M | ||
| Q2 25 | $723.0M | $-66.4M | ||
| Q1 25 | $1.1B | $-60.6M | ||
| Q4 24 | $728.0M | $-52.3M | ||
| Q3 24 | $1.4B | $-51.9M | ||
| Q2 24 | $1.1B | $-41.6M |
毛利率MMMRKLB
| Q1 26 | 40.7% | — | ||
| Q4 25 | 33.6% | 38.0% | ||
| Q3 25 | 41.8% | 37.0% | ||
| Q2 25 | 42.5% | 32.1% | ||
| Q1 25 | 41.6% | 28.8% | ||
| Q4 24 | 51.7% | 27.8% | ||
| Q3 24 | 42.1% | 26.7% | ||
| Q2 24 | 42.9% | 25.6% |
营业利润率MMMRKLB
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | -28.4% | ||
| Q3 25 | 22.2% | -38.0% | ||
| Q2 25 | 18.0% | -41.3% | ||
| Q1 25 | 20.9% | -48.3% | ||
| Q4 24 | 12.2% | -38.9% | ||
| Q3 24 | 20.9% | -49.5% | ||
| Q2 24 | 20.3% | -40.7% |
净利率MMMRKLB
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | -29.5% | ||
| Q3 25 | 12.8% | -11.8% | ||
| Q2 25 | 11.4% | -46.0% | ||
| Q1 25 | 18.7% | -49.5% | ||
| Q4 24 | 12.1% | -39.5% | ||
| Q3 24 | 21.8% | -49.6% | ||
| Q2 24 | 18.3% | -39.2% |
每股收益（稀释后）MMMRKLB
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $-0.09 | ||
| Q3 25 | $1.55 | $-0.03 | ||
| Q2 25 | $1.34 | $-0.13 | ||
| Q1 25 | $2.04 | $-0.12 | ||
| Q4 24 | $1.33 | $-0.11 | ||
| Q3 24 | $2.48 | $-0.10 | ||
| Q2 24 | $2.07 | $-0.08 |
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 | $1.0B |
| 总债务越低越好 | $10.9B | $152.4M |
| 股东权益账面价值 | $3.3B | $1.7B |
| 总资产 | $35.4B | $2.3B |
| 负债/权益比越低杠杆越低 | 3.29× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资MMMRKLB
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $976.7M | ||
| Q2 25 | — | $688.1M | ||
| Q1 25 | — | $428.4M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | — | $442.4M | ||
| Q2 24 | — | $496.8M |
总债务MMMRKLB
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | $152.4M | ||
| Q3 25 | $12.6B | $347.0M | ||
| Q2 25 | $13.1B | $346.5M | ||
| Q1 25 | $13.5B | $345.9M | ||
| Q4 24 | $13.0B | $345.4M | ||
| Q3 24 | $13.2B | $61.2M | ||
| Q2 24 | $13.1B | $64.2M |
股东权益MMMRKLB
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $1.7B | ||
| Q3 25 | $4.6B | $1.3B | ||
| Q2 25 | $4.3B | $688.5M | ||
| Q1 25 | $4.5B | $431.3M | ||
| Q4 24 | $3.8B | $382.5M | ||
| Q3 24 | $4.6B | $419.8M | ||
| Q2 24 | $3.9B | $455.2M |
总资产MMMRKLB
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $2.3B | ||
| Q3 25 | $37.6B | $2.2B | ||
| Q2 25 | $38.0B | $1.6B | ||
| Q1 25 | $40.0B | $1.3B | ||
| Q4 24 | $39.9B | $1.2B | ||
| Q3 24 | $40.9B | $1.2B | ||
| Q2 24 | $43.4B | $1.2B |
负债/权益比MMMRKLB
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | 0.09× | ||
| Q3 25 | 2.72× | 0.27× | ||
| Q2 25 | 3.06× | 0.50× | ||
| Q1 25 | 3.02× | 0.80× | ||
| Q4 24 | 3.40× | 0.90× | ||
| Q3 24 | 2.84× | 0.15× | ||
| Q2 24 | 3.34× | 0.14× |
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 | — | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $-114.2M |
| 自由现金流率自由现金流/营收 | 33.6% | -63.6% |
| 资本支出强度资本支出/营收 | — | 27.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $3.7B | $-321.8M |
8季度趋势，按日历期对齐
经营现金流MMMRKLB
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $-64.5M | ||
| Q3 25 | $1.8B | $-23.5M | ||
| Q2 25 | $-954.0M | $-23.2M | ||
| Q1 25 | $-79.0M | $-54.2M | ||
| Q4 24 | $1.8B | $-2.4M | ||
| Q3 24 | $-1.8B | $-30.9M | ||
| Q2 24 | $1.0B | $-13.0M |
自由现金流MMMRKLB
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $-114.2M | ||
| Q3 25 | $1.5B | $-69.4M | ||
| Q2 25 | $-1.2B | $-55.3M | ||
| Q1 25 | $-315.0M | $-82.9M | ||
| Q4 24 | $1.5B | $-23.9M | ||
| Q3 24 | $-2.0B | $-41.9M | ||
| Q2 24 | $752.0M | $-28.3M |
自由现金流率MMMRKLB
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | -63.6% | ||
| Q3 25 | 23.6% | -44.8% | ||
| Q2 25 | -18.3% | -38.3% | ||
| Q1 25 | -5.3% | -67.6% | ||
| Q4 24 | 25.4% | -18.1% | ||
| Q3 24 | -32.3% | -40.0% | ||
| Q2 24 | 12.0% | -26.7% |
资本支出强度MMMRKLB
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 27.6% | ||
| Q3 25 | 3.3% | 29.6% | ||
| Q2 25 | 3.3% | 22.2% | ||
| Q1 25 | 4.0% | 23.4% | ||
| Q4 24 | 4.8% | 16.3% | ||
| Q3 24 | 3.9% | 10.5% | ||
| Q2 24 | 4.3% | 14.4% |
现金转化率MMMRKLB
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | — | ||
| Q3 25 | 2.11× | — | ||
| Q2 25 | -1.32× | — | ||
| Q1 25 | -0.07× | — | ||
| Q4 24 | 2.50× | — | ||
| Q3 24 | -1.30× | — | ||
| Q2 24 | 0.89× | — |
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% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
