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3M（MMM）与维蒙特工业（VMI）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是维蒙特工业的5.9倍（$6.0B vs $1.0B）。3M净利率更高（10.8% vs 10.5%，领先0.3%）。维蒙特工业同比增速更快（6.2% vs 1.3%）。过去两年维蒙特工业的营收复合增速更高（-0.5% 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。
维蒙特工业是美国大型上市制造企业，核心产品包括Valley品牌中心支轴及线性灌溉设备、风电机组支撑结构、照明与交通信号灯杆、钢制公用设施杆塔，在全球农业设备及基建配套领域拥有领先的市场地位和技术优势。
MMM vs VMI — 直观对比
营收规模更大
MMM
是对方的5.9倍
$1.0B
营收增速更快
VMI
高出4.9%
1.3%
净利率更高
MMM
高出0.3%
10.5%
两年增速更快
VMI
近两年复合增速
-1.8%
损益表 — Q1 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $1.0B |
| 净利润 | $653.0M | $108.0M |
| 毛利率 | 40.7% | 30.8% |
| 营业利润率 | 23.2% | 15.1% |
| 净利率 | 10.8% | 10.5% |
| 营收同比 | 1.3% | 6.2% |
| 净利润同比 | -41.5% | 23.8% |
| 每股收益（稀释后） | $1.23 | $5.51 |
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MMMVMI
| Q1 26 | $6.0B | $1.0B | ||
| Q4 25 | $6.1B | $1.0B | ||
| Q3 25 | $6.5B | $1.0B | ||
| Q2 25 | $6.3B | $1.1B | ||
| Q1 25 | $6.0B | $969.3M | ||
| Q4 24 | $6.0B | $1.0B | ||
| Q3 24 | $6.3B | $1.0B | ||
| Q2 24 | $6.3B | $1.0B |
净利润MMMVMI
| Q1 26 | $653.0M | $108.0M | ||
| Q4 25 | $577.0M | $168.0M | ||
| Q3 25 | $834.0M | $99.0M | ||
| Q2 25 | $723.0M | $-4.0M | ||
| Q1 25 | $1.1B | $87.3M | ||
| Q4 24 | $728.0M | $77.7M | ||
| Q3 24 | $1.4B | $83.1M | ||
| Q2 24 | $1.1B | $99.7M |
毛利率MMMVMI
| Q1 26 | 40.7% | 30.8% | ||
| Q4 25 | 33.6% | 29.8% | ||
| Q3 25 | 41.8% | 30.4% | ||
| Q2 25 | 42.5% | 30.6% | ||
| Q1 25 | 41.6% | 30.0% | ||
| Q4 24 | 51.7% | 30.2% | ||
| Q3 24 | 42.1% | 29.6% | ||
| Q2 24 | 42.9% | 30.8% |
营业利润率MMMVMI
| Q1 26 | 23.2% | 15.1% | ||
| Q4 25 | 13.0% | 11.2% | ||
| Q3 25 | 22.2% | 13.5% | ||
| Q2 25 | 18.0% | 2.8% | ||
| Q1 25 | 20.9% | 13.2% | ||
| Q4 24 | 12.2% | 11.6% | ||
| Q3 24 | 20.9% | 12.3% | ||
| Q2 24 | 20.3% | 14.2% |
净利率MMMVMI
| Q1 26 | 10.8% | 10.5% | ||
| Q4 25 | 9.4% | 16.2% | ||
| Q3 25 | 12.8% | 9.5% | ||
| Q2 25 | 11.4% | -0.4% | ||
| Q1 25 | 18.7% | 9.0% | ||
| Q4 24 | 12.1% | 7.5% | ||
| Q3 24 | 21.8% | 8.1% | ||
| Q2 24 | 18.3% | 9.6% |
每股收益（稀释后）MMMVMI
| Q1 26 | $1.23 | $5.51 | ||
| Q4 25 | $1.07 | $9.02 | ||
| Q3 25 | $1.55 | $4.98 | ||
| Q2 25 | $1.34 | $-1.53 | ||
| Q1 25 | $2.04 | $4.32 | ||
| Q4 24 | $1.33 | $3.85 | ||
| Q3 24 | $2.48 | $4.11 | ||
| Q2 24 | $2.07 | $4.91 |
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 | $160.2M |
| 总债务越低越好 | $10.9B | — |
| 股东权益账面价值 | $3.3B | $1.7B |
| 总资产 | $35.4B | $3.4B |
| 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MMMVMI
| Q1 26 | $3.7B | $160.2M | ||
| Q4 25 | — | $187.1M | ||
| Q3 25 | — | $226.1M | ||
| Q2 25 | — | $208.5M | ||
| Q1 25 | — | $184.4M | ||
| Q4 24 | — | $164.3M | ||
| Q3 24 | — | $200.5M | ||
| Q2 24 | — | $163.1M |
总债务MMMVMI
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | $795.7M | ||
| Q3 25 | $12.6B | — | ||
| Q2 25 | $13.1B | — | ||
| Q1 25 | $13.5B | — | ||
| Q4 24 | $13.0B | $730.6M | ||
| Q3 24 | $13.2B | — | ||
| Q2 24 | $13.1B | — |
股东权益MMMVMI
| Q1 26 | $3.3B | $1.7B | ||
| Q4 25 | $4.7B | $1.6B | ||
| Q3 25 | $4.6B | $1.6B | ||
| Q2 25 | $4.3B | $1.5B | ||
| Q1 25 | $4.5B | $1.6B | ||
| Q4 24 | $3.8B | $1.5B | ||
| Q3 24 | $4.6B | $1.5B | ||
| Q2 24 | $3.9B | $1.5B |
总资产MMMVMI
| Q1 26 | $35.4B | $3.4B | ||
| Q4 25 | $37.7B | $3.4B | ||
| Q3 25 | $37.6B | $3.4B | ||
| Q2 25 | $38.0B | $3.3B | ||
| Q1 25 | $40.0B | $3.4B | ||
| Q4 24 | $39.9B | $3.3B | ||
| Q3 24 | $40.9B | $3.5B | ||
| Q2 24 | $43.4B | $3.5B |
负债/权益比MMMVMI
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | 0.49× | ||
| Q3 25 | 2.72× | — | ||
| Q2 25 | 3.06× | — | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.40× | 0.47× | ||
| 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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $2.0B | — |
| 自由现金流率自由现金流/营收 | 33.6% | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流MMMVMI
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $111.2M | ||
| Q3 25 | $1.8B | $112.5M | ||
| Q2 25 | $-954.0M | $167.6M | ||
| Q1 25 | $-79.0M | $65.1M | ||
| Q4 24 | $1.8B | $193.4M | ||
| Q3 24 | $-1.8B | $225.1M | ||
| Q2 24 | $1.0B | $130.8M |
自由现金流MMMVMI
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $70.4M | ||
| Q3 25 | $1.5B | $70.6M | ||
| Q2 25 | $-1.2B | $135.6M | ||
| Q1 25 | $-315.0M | $34.8M | ||
| Q4 24 | $1.5B | $167.8M | ||
| Q3 24 | $-2.0B | $204.6M | ||
| Q2 24 | $752.0M | $112.5M |
自由现金流率MMMVMI
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | 6.8% | ||
| Q3 25 | 23.6% | 6.7% | ||
| Q2 25 | -18.3% | 12.9% | ||
| Q1 25 | -5.3% | 3.6% | ||
| Q4 24 | 25.4% | 16.2% | ||
| Q3 24 | -32.3% | 20.1% | ||
| Q2 24 | 12.0% | 10.8% |
资本支出强度MMMVMI
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 3.9% | ||
| Q3 25 | 3.3% | 4.0% | ||
| Q2 25 | 3.3% | 3.0% | ||
| Q1 25 | 4.0% | 3.1% | ||
| Q4 24 | 4.8% | 2.5% | ||
| Q3 24 | 3.9% | 2.0% | ||
| Q2 24 | 4.3% | 1.8% |
现金转化率MMMVMI
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | 0.66× | ||
| Q3 25 | 2.11× | 1.14× | ||
| Q2 25 | -1.32× | — | ||
| Q1 25 | -0.07× | 0.75× | ||
| Q4 24 | 2.50× | 2.49× | ||
| Q3 24 | -1.30× | 2.71× | ||
| Q2 24 | 0.89× | 1.31× |
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% |
VMI
| Infrastructure | $803.2M | 78% |
| Agriculture | $226.0M | 22% |
