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3M（MMM）与WINNEBAGO INDUSTRIES INC（WGO）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WINNEBAGO INDUSTRIES INC的8.6倍（$6.0B vs $702.7M）。3M净利率更高（10.8% vs 0.8%，领先10.0%）。WINNEBAGO INDUSTRIES INC同比增速更快（12.3% vs 1.3%）。3M自由现金流更多（$2.0B vs $19.8M）。过去两年3M的营收复合增速更高（-1.8% vs -4.0%）
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。
温尼贝戈工业是美国知名的房车制造商，主营 recreational vehicle（ recreational vehicle 即休闲旅居车）生产制造，2018年收购克里斯-克拉夫特公司后进军摩托艇制造领域，企业也曾产出中轻型多用途车等相关产品，公司名称源自其原总部所在地爱荷华州的温纳贝戈县。
MMM vs WGO — 直观对比
营收规模更大
MMM
是对方的8.6倍
$702.7M
营收增速更快
WGO
高出11.0%
1.3%
净利率更高
MMM
高出10.0%
0.8%
自由现金流更多
MMM
多$2.0B
$19.8M
两年增速更快
MMM
近两年复合增速
-4.0%
损益表 — Q1 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $702.7M |
| 净利润 | $653.0M | $5.5M |
| 毛利率 | 40.7% | 12.7% |
| 营业利润率 | 23.2% | 2.0% |
| 净利率 | 10.8% | 0.8% |
| 营收同比 | 1.3% | 12.3% |
| 净利润同比 | -41.5% | 205.8% |
| 每股收益（稀释后） | $1.23 | $0.19 |
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MMMWGO
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $702.7M | ||
| Q3 25 | $6.5B | — | ||
| Q2 25 | $6.3B | $775.1M | ||
| Q1 25 | $6.0B | — | ||
| Q4 24 | $6.0B | $625.6M | ||
| Q3 24 | $6.3B | $720.9M | ||
| Q2 24 | $6.3B | $786.0M |
净利润MMMWGO
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $5.5M | ||
| Q3 25 | $834.0M | — | ||
| Q2 25 | $723.0M | $17.6M | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $728.0M | $-5.2M | ||
| Q3 24 | $1.4B | $-29.1M | ||
| Q2 24 | $1.1B | $29.0M |
毛利率MMMWGO
| Q1 26 | 40.7% | — | ||
| Q4 25 | 33.6% | 12.7% | ||
| Q3 25 | 41.8% | — | ||
| Q2 25 | 42.5% | 13.7% | ||
| Q1 25 | 41.6% | — | ||
| Q4 24 | 51.7% | 12.3% | ||
| Q3 24 | 42.1% | 13.1% | ||
| Q2 24 | 42.9% | 15.0% |
营业利润率MMMWGO
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | 2.0% | ||
| Q3 25 | 22.2% | — | ||
| Q2 25 | 18.0% | 3.9% | ||
| Q1 25 | 20.9% | — | ||
| Q4 24 | 12.2% | -0.1% | ||
| Q3 24 | 20.9% | -2.5% | ||
| Q2 24 | 20.3% | 5.5% |
净利率MMMWGO
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | 0.8% | ||
| Q3 25 | 12.8% | — | ||
| Q2 25 | 11.4% | 2.3% | ||
| Q1 25 | 18.7% | — | ||
| Q4 24 | 12.1% | -0.8% | ||
| Q3 24 | 21.8% | -4.0% | ||
| Q2 24 | 18.3% | 3.7% |
每股收益（稀释后）MMMWGO
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $0.19 | ||
| Q3 25 | $1.55 | — | ||
| Q2 25 | $1.34 | $0.62 | ||
| Q1 25 | $2.04 | — | ||
| Q4 24 | $1.33 | $-0.18 | ||
| Q3 24 | $2.48 | $-0.87 | ||
| Q2 24 | $2.07 | $0.96 |
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 | $181.7M |
| 总债务越低越好 | $10.9B | $541.0M |
| 股东权益账面价值 | $3.3B | $1.2B |
| 总资产 | $35.4B | $2.1B |
| 负债/权益比越低杠杆越低 | 3.29× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资MMMWGO
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $181.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $10.5M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $262.5M | ||
| Q3 24 | — | $330.9M | ||
| Q2 24 | — | $318.1M |
总债务MMMWGO
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | $541.0M | ||
| Q3 25 | $12.6B | — | ||
| Q2 25 | $13.1B | $539.9M | ||
| Q1 25 | $13.5B | — | ||
| Q4 24 | $13.0B | $637.7M | ||
| Q3 24 | $13.2B | $637.1M | ||
| Q2 24 | $13.1B | $636.4M |
股东权益MMMWGO
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $1.2B | ||
| Q3 25 | $4.6B | — | ||
| Q2 25 | $4.3B | $1.2B | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $3.8B | $1.2B | ||
| Q3 24 | $4.6B | $1.3B | ||
| Q2 24 | $3.9B | $1.3B |
总资产MMMWGO
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $2.1B | ||
| Q3 25 | $37.6B | — | ||
| Q2 25 | $38.0B | $2.1B | ||
| Q1 25 | $40.0B | — | ||
| Q4 24 | $39.9B | $2.3B | ||
| Q3 24 | $40.9B | $2.4B | ||
| Q2 24 | $43.4B | $2.4B |
负债/权益比MMMWGO
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | 0.44× | ||
| Q3 25 | 2.72× | — | ||
| Q2 25 | 3.06× | 0.44× | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.40× | 0.51× | ||
| Q3 24 | 2.84× | 0.50× | ||
| Q2 24 | 3.34× | 0.48× |
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 | — | $25.4M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $19.8M |
| 自由现金流率自由现金流/营收 | 33.6% | 2.8% |
| 资本支出强度资本支出/营收 | — | 0.8% |
| 现金转化率经营现金流/净利润 | — | 4.62× |
| 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MMMWGO
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $25.4M | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $-954.0M | — | ||
| Q1 25 | $-79.0M | — | ||
| Q4 24 | $1.8B | $-16.7M | ||
| Q3 24 | $-1.8B | $40.7M | ||
| Q2 24 | $1.0B | $99.4M |
自由现金流MMMWGO
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $19.8M | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $-1.2B | — | ||
| Q1 25 | $-315.0M | — | ||
| Q4 24 | $1.5B | $-26.7M | ||
| Q3 24 | $-2.0B | $29.5M | ||
| Q2 24 | $752.0M | $88.4M |
自由现金流率MMMWGO
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | 2.8% | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | -18.3% | — | ||
| Q1 25 | -5.3% | — | ||
| Q4 24 | 25.4% | -4.3% | ||
| Q3 24 | -32.3% | 4.1% | ||
| Q2 24 | 12.0% | 11.2% |
资本支出强度MMMWGO
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 0.8% | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 4.0% | — | ||
| Q4 24 | 4.8% | 1.6% | ||
| Q3 24 | 3.9% | 1.6% | ||
| Q2 24 | 4.3% | 1.4% |
现金转化率MMMWGO
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | 4.62× | ||
| Q3 25 | 2.11× | — | ||
| Q2 25 | -1.32× | — | ||
| Q1 25 | -0.07× | — | ||
| Q4 24 | 2.50× | — | ||
| Q3 24 | -1.30× | — | ||
| Q2 24 | 0.89× | 3.43× |
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% |
WGO
| Travel Trailer | $139.2M | 20% |
| Class C And Other | $131.0M | 19% |
| Fifth Wheel | $116.0M | 17% |
| Class A | $97.4M | 14% |
| Marine Segment | $79.2M | 11% |
| Class B | $76.3M | 11% |
| Other | $56.4M | 8% |
