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3M（MMM）与Vontier Corp（VNT）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Vontier Corp的7.5倍（$6.0B vs $808.5M）。Vontier Corp净利率更高（15.3% vs 10.8%，领先4.4%）。Vontier Corp同比增速更快（4.1% vs 1.3%）。3M自由现金流更多（$2.0B vs $174.8M）。过去两年Vontier Corp的营收复合增速更高（3.4% 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。
Vontier Corp是一家总部位于美国北卡罗来纳州罗利市的工业制造企业，旗下拥有Gilbarco Veeder-Root、Matco Tools、Teletrac Navman等核心品牌，还控股Hennessy Industries、Gasboy、全球交通技术（GTT）等多家子公司，业务覆盖多个工业制造细分领域。
MMM vs VNT — 直观对比
营收规模更大
MMM
是对方的7.5倍
$808.5M
营收增速更快
VNT
高出2.8%
1.3%
净利率更高
VNT
高出4.4%
10.8%
自由现金流更多
MMM
多$1.9B
$174.8M
两年增速更快
VNT
近两年复合增速
-1.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $808.5M |
| 净利润 | $653.0M | $123.5M |
| 毛利率 | 40.7% | — |
| 营业利润率 | 23.2% | 18.9% |
| 净利率 | 10.8% | 15.3% |
| 营收同比 | 1.3% | 4.1% |
| 净利润同比 | -41.5% | 0.0% |
| 每股收益（稀释后） | $1.23 | $0.85 |
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MMMVNT
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $808.5M | ||
| Q3 25 | $6.5B | $752.5M | ||
| Q2 25 | $6.3B | $773.5M | ||
| Q1 25 | $6.0B | $741.1M | ||
| Q4 24 | $6.0B | $776.8M | ||
| Q3 24 | $6.3B | $750.0M | ||
| Q2 24 | $6.3B | $696.4M |
净利润MMMVNT
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $123.5M | ||
| Q3 25 | $834.0M | $102.8M | ||
| Q2 25 | $723.0M | $91.9M | ||
| Q1 25 | $1.1B | $87.9M | ||
| Q4 24 | $728.0M | $123.5M | ||
| Q3 24 | $1.4B | $91.8M | ||
| Q2 24 | $1.1B | $70.1M |
毛利率MMMVNT
| Q1 26 | 40.7% | — | ||
| Q4 25 | 33.6% | — | ||
| Q3 25 | 41.8% | 47.3% | ||
| Q2 25 | 42.5% | 47.9% | ||
| Q1 25 | 41.6% | 47.3% | ||
| Q4 24 | 51.7% | — | ||
| Q3 24 | 42.1% | 47.2% | ||
| Q2 24 | 42.9% | 48.2% |
营业利润率MMMVNT
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | 18.9% | ||
| Q3 25 | 22.2% | 18.9% | ||
| Q2 25 | 18.0% | 17.6% | ||
| Q1 25 | 20.9% | 17.6% | ||
| Q4 24 | 12.2% | 19.2% | ||
| Q3 24 | 20.9% | 17.5% | ||
| Q2 24 | 20.3% | 16.4% |
净利率MMMVNT
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | 15.3% | ||
| Q3 25 | 12.8% | 13.7% | ||
| Q2 25 | 11.4% | 11.9% | ||
| Q1 25 | 18.7% | 11.9% | ||
| Q4 24 | 12.1% | 15.9% | ||
| Q3 24 | 21.8% | 12.2% | ||
| Q2 24 | 18.3% | 10.1% |
每股收益（稀释后）MMMVNT
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $0.85 | ||
| Q3 25 | $1.55 | $0.70 | ||
| Q2 25 | $1.34 | $0.62 | ||
| Q1 25 | $2.04 | $0.59 | ||
| Q4 24 | $1.33 | $0.82 | ||
| Q3 24 | $2.48 | $0.60 | ||
| Q2 24 | $2.07 | $0.45 |
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 | $492.2M |
| 总债务越低越好 | $10.9B | — |
| 股东权益账面价值 | $3.3B | $1.2B |
| 总资产 | $35.4B | $4.4B |
| 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MMMVNT
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $492.2M | ||
| Q3 25 | — | $433.8M | ||
| Q2 25 | — | $364.2M | ||
| Q1 25 | — | $333.6M | ||
| Q4 24 | — | $356.4M | ||
| Q3 24 | — | $330.9M | ||
| Q2 24 | — | $331.3M |
总债务MMMVNT
| 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MMMVNT
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $1.2B | ||
| Q3 25 | $4.6B | $1.2B | ||
| Q2 25 | $4.3B | $1.2B | ||
| Q1 25 | $4.5B | $1.1B | ||
| Q4 24 | $3.8B | $1.1B | ||
| Q3 24 | $4.6B | $1.0B | ||
| Q2 24 | $3.9B | $1.0B |
总资产MMMVNT
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $4.4B | ||
| Q3 25 | $37.6B | $4.4B | ||
| Q2 25 | $38.0B | $4.4B | ||
| Q1 25 | $40.0B | $4.3B | ||
| Q4 24 | $39.9B | $4.3B | ||
| Q3 24 | $40.9B | $4.3B | ||
| Q2 24 | $43.4B | $4.2B |
负债/权益比MMMVNT
| 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 | — | $190.1M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $174.8M |
| 自由现金流率自由现金流/营收 | 33.6% | 21.6% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | — | 1.54× |
| 过去12个月自由现金流最近4个季度 | $3.7B | $441.1M |
8季度趋势，按日历期对齐
经营现金流MMMVNT
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $190.1M | ||
| Q3 25 | $1.8B | $110.5M | ||
| Q2 25 | $-954.0M | $100.0M | ||
| Q1 25 | $-79.0M | $110.4M | ||
| Q4 24 | $1.8B | $168.1M | ||
| Q3 24 | $-1.8B | $121.8M | ||
| Q2 24 | $1.0B | $46.1M |
自由现金流MMMVNT
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $174.8M | ||
| Q3 25 | $1.5B | $90.3M | ||
| Q2 25 | $-1.2B | $83.3M | ||
| Q1 25 | $-315.0M | $92.7M | ||
| Q4 24 | $1.5B | $148.0M | ||
| Q3 24 | $-2.0B | $103.2M | ||
| Q2 24 | $752.0M | $22.3M |
自由现金流率MMMVNT
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | 21.6% | ||
| Q3 25 | 23.6% | 12.0% | ||
| Q2 25 | -18.3% | 10.8% | ||
| Q1 25 | -5.3% | 12.5% | ||
| Q4 24 | 25.4% | 19.1% | ||
| Q3 24 | -32.3% | 13.8% | ||
| Q2 24 | 12.0% | 3.2% |
资本支出强度MMMVNT
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 1.9% | ||
| Q3 25 | 3.3% | 2.7% | ||
| Q2 25 | 3.3% | 2.2% | ||
| Q1 25 | 4.0% | 2.4% | ||
| Q4 24 | 4.8% | 2.6% | ||
| Q3 24 | 3.9% | 2.5% | ||
| Q2 24 | 4.3% | 3.4% |
现金转化率MMMVNT
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | 1.54× | ||
| Q3 25 | 2.11× | 1.07× | ||
| Q2 25 | -1.32× | 1.09× | ||
| Q1 25 | -0.07× | 1.26× | ||
| Q4 24 | 2.50× | 1.36× | ||
| Q3 24 | -1.30× | 1.33× | ||
| Q2 24 | 0.89× | 0.66× |
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% |
VNT
| Environmental Fueling Solutions Segment | $387.5M | 48% |
| Services | $191.0M | 24% |
| Repair Solutions Segment | $144.5M | 18% |
| Other | $85.5M | 11% |
