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3M（MMM）与环联（TRU）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是环联的5.1倍（$6.0B vs $1.2B）。3M净利率更高（10.8% vs 8.6%，领先2.2%）。环联同比增速更快（13.0% vs 1.3%）。3M自由现金流更多（$2.0B vs $222.8M）。过去两年环联的营收复合增速更高（7.1% 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。
环联是美国知名消费者信用报告机构，与益博睿、艾奎法克斯并列美国三大征信机构，总部位于伊利诺伊州芝加哥。目前其业务覆盖30余个国家，累计收集超10亿消费者的信用信息，持有美国几乎所有有信用记录消费者的超2亿份档案，服务超6.5万家企业客户，2014年营收达13亿美元。
MMM vs TRU — 直观对比
营收规模更大
MMM
是对方的5.1倍
$1.2B
营收增速更快
TRU
高出11.7%
1.3%
净利率更高
MMM
高出2.2%
8.6%
自由现金流更多
MMM
多$1.8B
$222.8M
两年增速更快
TRU
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 | $101.1M |
| 毛利率 | 40.7% | — |
| 营业利润率 | 23.2% | 17.4% |
| 净利率 | 10.8% | 8.6% |
| 营收同比 | 1.3% | 13.0% |
| 净利润同比 | -41.5% | 52.5% |
| 每股收益（稀释后） | $1.23 | $0.52 |
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MMMTRU
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $1.2B | ||
| Q3 25 | $6.5B | $1.2B | ||
| Q2 25 | $6.3B | $1.1B | ||
| Q1 25 | $6.0B | $1.1B | ||
| Q4 24 | $6.0B | $1.0B | ||
| Q3 24 | $6.3B | $1.1B | ||
| Q2 24 | $6.3B | $1.0B |
净利润MMMTRU
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $101.1M | ||
| Q3 25 | $834.0M | $96.6M | ||
| Q2 25 | $723.0M | $109.6M | ||
| Q1 25 | $1.1B | $148.1M | ||
| Q4 24 | $728.0M | $66.3M | ||
| Q3 24 | $1.4B | $68.0M | ||
| Q2 24 | $1.1B | $85.0M |
毛利率MMMTRU
| 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MMMTRU
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | 17.4% | ||
| Q3 25 | 22.2% | 17.8% | ||
| Q2 25 | 18.0% | 16.9% | ||
| Q1 25 | 20.9% | 23.2% | ||
| Q4 24 | 12.2% | 16.5% | ||
| Q3 24 | 20.9% | 14.4% | ||
| Q2 24 | 20.3% | 17.5% |
净利率MMMTRU
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | 8.6% | ||
| Q3 25 | 12.8% | 8.3% | ||
| Q2 25 | 11.4% | 9.6% | ||
| Q1 25 | 18.7% | 13.5% | ||
| Q4 24 | 12.1% | 6.4% | ||
| Q3 24 | 21.8% | 6.3% | ||
| Q2 24 | 18.3% | 8.2% |
每股收益（稀释后）MMMTRU
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $0.52 | ||
| Q3 25 | $1.55 | $0.49 | ||
| Q2 25 | $1.34 | $0.56 | ||
| Q1 25 | $2.04 | $0.75 | ||
| Q4 24 | $1.33 | $0.33 | ||
| Q3 24 | $2.48 | $0.35 | ||
| Q2 24 | $2.07 | $0.44 |
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 | $856.3M |
| 总债务越低越好 | $10.9B | $4.9B |
| 股东权益账面价值 | $3.3B | $4.4B |
| 总资产 | $35.4B | $11.1B |
| 负债/权益比越低杠杆越低 | 3.29× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资MMMTRU
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $856.3M | ||
| Q3 25 | — | $752.5M | ||
| Q2 25 | — | $690.0M | ||
| Q1 25 | — | $612.5M | ||
| Q4 24 | — | $682.0M | ||
| Q3 24 | — | $646.0M | ||
| Q2 24 | — | $545.8M |
总债务MMMTRU
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | $4.9B | ||
| Q3 25 | $12.6B | — | ||
| Q2 25 | $13.1B | — | ||
| Q1 25 | $13.5B | — | ||
| Q4 24 | $13.0B | $5.1B | ||
| Q3 24 | $13.2B | — | ||
| Q2 24 | $13.1B | — |
股东权益MMMTRU
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $4.4B | ||
| Q3 25 | $4.6B | $4.5B | ||
| Q2 25 | $4.3B | $4.5B | ||
| Q1 25 | $4.5B | $4.4B | ||
| Q4 24 | $3.8B | $4.2B | ||
| Q3 24 | $4.6B | $4.2B | ||
| Q2 24 | $3.9B | $4.1B |
总资产MMMTRU
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $11.1B | ||
| Q3 25 | $37.6B | $11.1B | ||
| Q2 25 | $38.0B | $11.1B | ||
| Q1 25 | $40.0B | $10.9B | ||
| Q4 24 | $39.9B | $11.0B | ||
| Q3 24 | $40.9B | $11.1B | ||
| Q2 24 | $43.4B | $11.0B |
负债/权益比MMMTRU
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | 1.11× | ||
| Q3 25 | 2.72× | — | ||
| Q2 25 | 3.06× | — | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.40× | 1.20× | ||
| 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 | — | $319.5M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $222.8M |
| 自由现金流率自由现金流/营收 | 33.6% | 19.0% |
| 资本支出强度资本支出/营收 | — | 8.3% |
| 现金转化率经营现金流/净利润 | — | 3.16× |
| 过去12个月自由现金流最近4个季度 | $3.7B | $661.6M |
8季度趋势，按日历期对齐
经营现金流MMMTRU
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $319.5M | ||
| Q3 25 | $1.8B | $324.3M | ||
| Q2 25 | $-954.0M | $291.3M | ||
| Q1 25 | $-79.0M | $52.5M | ||
| Q4 24 | $1.8B | $254.0M | ||
| Q3 24 | $-1.8B | $229.3M | ||
| Q2 24 | $1.0B | $295.2M |
自由现金流MMMTRU
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $222.8M | ||
| Q3 25 | $1.5B | $240.4M | ||
| Q2 25 | $-1.2B | $214.3M | ||
| Q1 25 | $-315.0M | $-15.9M | ||
| Q4 24 | $1.5B | $136.9M | ||
| Q3 24 | $-2.0B | $161.3M | ||
| Q2 24 | $752.0M | $226.9M |
自由现金流率MMMTRU
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | 19.0% | ||
| Q3 25 | 23.6% | 20.6% | ||
| Q2 25 | -18.3% | 18.8% | ||
| Q1 25 | -5.3% | -1.5% | ||
| Q4 24 | 25.4% | 13.2% | ||
| Q3 24 | -32.3% | 14.9% | ||
| Q2 24 | 12.0% | 21.8% |
资本支出强度MMMTRU
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 8.3% | ||
| Q3 25 | 3.3% | 7.2% | ||
| Q2 25 | 3.3% | 6.8% | ||
| Q1 25 | 4.0% | 6.2% | ||
| Q4 24 | 4.8% | 11.3% | ||
| Q3 24 | 3.9% | 6.3% | ||
| Q2 24 | 4.3% | 6.6% |
现金转化率MMMTRU
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | 3.16× | ||
| Q3 25 | 2.11× | 3.36× | ||
| Q2 25 | -1.32× | 2.66× | ||
| Q1 25 | -0.07× | 0.35× | ||
| Q4 24 | 2.50× | 3.83× | ||
| Q3 24 | -1.30× | 3.37× | ||
| Q2 24 | 0.89× | 3.47× |
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% |
TRU
暂无分部数据
