vs
3M（MMM）与泰科电子（TEL）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是泰科电子的1.3倍（$6.0B vs $4.7B），泰科电子净利率更高（16.1% vs 10.8%，领先5.2%），泰科电子同比增速更快（21.7% vs 1.3%），3M自由现金流更多（$2.0B vs $607.0M），过去两年泰科电子的营收复合增速更高（8.5% 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。
TE Connectivity（泰科电子）是一家注册地涵盖美国与爱尔兰的科技企业，专注于电气及电子元器件的设计与制造，产品广泛应用于汽车、航空航天、国防、医疗、能源等多个行业，可为不同领域客户提供高性能连接解决方案。
MMM vs TEL — 直观对比
营收规模更大
MMM
是对方的1.3倍
$4.7B
营收增速更快
TEL
高出20.4%
1.3%
净利率更高
TEL
高出5.2%
10.8%
自由现金流更多
MMM
多$1.4B
$607.0M
两年增速更快
TEL
近两年复合增速
-1.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $4.7B |
| 净利润 | $653.0M | $750.0M |
| 毛利率 | 40.7% | 37.2% |
| 营业利润率 | 23.2% | 20.6% |
| 净利率 | 10.8% | 16.1% |
| 营收同比 | 1.3% | 21.7% |
| 净利润同比 | -41.5% | 42.0% |
| 每股收益（稀释后） | $1.23 | $2.53 |
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MMMTEL
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $4.7B | ||
| Q3 25 | $6.5B | $4.7B | ||
| Q2 25 | $6.3B | $4.5B | ||
| Q1 25 | $6.0B | $4.1B | ||
| Q4 24 | $6.0B | $3.8B | ||
| Q3 24 | $6.3B | $4.1B | ||
| Q2 24 | $6.3B | $4.0B |
净利润MMMTEL
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $750.0M | ||
| Q3 25 | $834.0M | $663.0M | ||
| Q2 25 | $723.0M | $638.0M | ||
| Q1 25 | $1.1B | $13.0M | ||
| Q4 24 | $728.0M | $528.0M | ||
| Q3 24 | $1.4B | $276.0M | ||
| Q2 24 | $1.1B | $573.0M |
毛利率MMMTEL
| Q1 26 | 40.7% | — | ||
| Q4 25 | 33.6% | 37.2% | ||
| Q3 25 | 41.8% | 35.0% | ||
| Q2 25 | 42.5% | 35.3% | ||
| Q1 25 | 41.6% | 35.2% | ||
| Q4 24 | 51.7% | 35.5% | ||
| Q3 24 | 42.1% | 34.0% | ||
| Q2 24 | 42.9% | 34.8% |
营业利润率MMMTEL
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | 20.6% | ||
| Q3 25 | 22.2% | 19.3% | ||
| Q2 25 | 18.0% | 18.9% | ||
| Q1 25 | 20.9% | 18.1% | ||
| Q4 24 | 12.2% | 18.0% | ||
| Q3 24 | 20.9% | 16.0% | ||
| Q2 24 | 20.3% | 19.0% |
净利率MMMTEL
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | 16.1% | ||
| Q3 25 | 12.8% | 14.0% | ||
| Q2 25 | 11.4% | 14.1% | ||
| Q1 25 | 18.7% | 0.3% | ||
| Q4 24 | 12.1% | 13.8% | ||
| Q3 24 | 21.8% | 6.8% | ||
| Q2 24 | 18.3% | 14.4% |
每股收益（稀释后）MMMTEL
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $2.53 | ||
| Q3 25 | $1.55 | $2.23 | ||
| Q2 25 | $1.34 | $2.14 | ||
| Q1 25 | $2.04 | $0.04 | ||
| Q4 24 | $1.33 | $1.75 | ||
| Q3 24 | $2.48 | $0.96 | ||
| Q2 24 | $2.07 | $1.86 |
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 | $1.3B |
| 总债务越低越好 | $10.9B | — |
| 股东权益账面价值 | $3.3B | $13.0B |
| 总资产 | $35.4B | $25.6B |
| 负债/权益比越低杠杆越低 | 3.29× | — |
8季度趋势，按日历期对齐
现金及短期投资MMMTEL
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $672.0M | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.5B |
总债务MMMTEL
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | — | ||
| Q3 25 | $12.6B | — | ||
| Q2 25 | $13.1B | — | ||
| Q1 25 | $13.5B | — | ||
| Q4 24 | $13.0B | — | ||
| Q3 24 | $13.2B | — | ||
| Q2 24 | $13.1B | — |
股东权益MMMTEL
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $13.0B | ||
| Q3 25 | $4.6B | $12.6B | ||
| Q2 25 | $4.3B | $12.4B | ||
| Q1 25 | $4.5B | $12.1B | ||
| Q4 24 | $3.8B | $12.4B | ||
| Q3 24 | $4.6B | $12.4B | ||
| Q2 24 | $3.9B | $12.6B |
总资产MMMTEL
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $25.6B | ||
| Q3 25 | $37.6B | $25.1B | ||
| Q2 25 | $38.0B | $24.9B | ||
| Q1 25 | $40.0B | $23.7B | ||
| Q4 24 | $39.9B | $22.4B | ||
| Q3 24 | $40.9B | $22.9B | ||
| Q2 24 | $43.4B | $22.9B |
负债/权益比MMMTEL
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | — | ||
| Q3 25 | 2.72× | — | ||
| Q2 25 | 3.06× | — | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.40× | — | ||
| 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 | — | $865.0M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $607.0M |
| 自由现金流率自由现金流/营收 | 33.6% | 13.0% |
| 资本支出强度资本支出/营收 | — | 5.5% |
| 现金转化率经营现金流/净利润 | — | 1.15× |
| 过去12个月自由现金流最近4个季度 | $3.7B | $3.1B |
8季度趋势，按日历期对齐
经营现金流MMMTEL
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $865.0M | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $-954.0M | $1.2B | ||
| Q1 25 | $-79.0M | $653.0M | ||
| Q4 24 | $1.8B | $878.0M | ||
| Q3 24 | $-1.8B | $1.0B | ||
| Q2 24 | $1.0B | $1.0B |
自由现金流MMMTEL
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $607.0M | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $-1.2B | $957.0M | ||
| Q1 25 | $-315.0M | $423.0M | ||
| Q4 24 | $1.5B | $673.0M | ||
| Q3 24 | $-2.0B | $829.0M | ||
| Q2 24 | $752.0M | $857.0M |
自由现金流率MMMTEL
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | 13.0% | ||
| Q3 25 | 23.6% | 24.2% | ||
| Q2 25 | -18.3% | 21.1% | ||
| Q1 25 | -5.3% | 10.2% | ||
| Q4 24 | 25.4% | 17.5% | ||
| Q3 24 | -32.3% | 20.4% | ||
| Q2 24 | 12.0% | 21.5% |
资本支出强度MMMTEL
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 5.5% | ||
| Q3 25 | 3.3% | 5.7% | ||
| Q2 25 | 3.3% | 5.1% | ||
| Q1 25 | 4.0% | 5.6% | ||
| Q4 24 | 4.8% | 5.3% | ||
| Q3 24 | 3.9% | 5.2% | ||
| Q2 24 | 4.3% | 3.7% |
现金转化率MMMTEL
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | 1.15× | ||
| Q3 25 | 2.11× | 2.14× | ||
| Q2 25 | -1.32× | 1.86× | ||
| Q1 25 | -0.07× | 50.23× | ||
| Q4 24 | 2.50× | 1.66× | ||
| Q3 24 | -1.30× | 3.78× | ||
| Q2 24 | 0.89× | 1.76× |
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% |
TEL
| Automotive Industry End Market | $1.9B | 40% |
| Digital Data Networks | $707.0M | 15% |
| Automation And Connected Living Industry End Market | $549.0M | 12% |
| Energy Industry End Market | $406.0M | 9% |
| Aerospace Defense And Marine Industry End Market | $381.0M | 8% |
| Commercial Transportation Industry End Market | $370.0M | 8% |
| Sensors Industry End Market | $212.0M | 5% |
| Medical Industry End Market | $159.0M | 3% |
