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Solventum（SOLV）与XPO, Inc.（XPO）财务数据对比。点击上方公司名可切换其他公司
XPO, Inc.的季度营收约是Solventum的1.0倍（$2.0B vs $2.0B），Solventum净利率更高（3.2% vs 2.9%，领先0.2%），XPO, Inc.同比增速更快（4.7% vs -3.7%），过去两年XPO, Inc.的营收复合增速更高（-0.1% vs -0.4%）
Solventum是一家总部位于美国的医疗健康企业，于2024年4月1日正式从全球知名多元化工业集团3M分拆后独立运营，继承了原3M旗下医疗板块的技术积累与业务资源，面向全球市场提供专业医疗相关产品及服务。
XPO Inc.（原XPO物流）是美国交通运输企业，主营北美区域零担货运业务，总部位于康涅狄格州格林尼治，全球共设592个运营网点。作为北美第二大零担货运服务商，其服务覆盖99%的美国邮政编码区域。
SOLV vs XPO — 直观对比
营收规模更大
XPO
是对方的1.0倍
$2.0B
营收增速更快
XPO
高出8.4%
-3.7%
净利率更高
SOLV
高出0.2%
2.9%
两年增速更快
XPO
近两年复合增速
-0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.0B |
| 净利润 | $63.0M | $59.0M |
| 毛利率 | 51.4% | — |
| 营业利润率 | 6.3% | 7.1% |
| 净利率 | 3.2% | 2.9% |
| 营收同比 | -3.7% | 4.7% |
| 净利润同比 | 103.2% | -21.3% |
| 每股收益（稀释后） | $0.37 | $0.49 |
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SOLVXPO
| Q4 25 | $2.0B | $2.0B | ||
| Q3 25 | $2.1B | $2.1B | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.1B | $2.0B | ||
| Q4 24 | $2.1B | $1.9B | ||
| Q3 24 | $2.1B | $2.1B | ||
| Q2 24 | $2.1B | $2.1B | ||
| Q1 24 | $2.0B | $2.0B |
净利润SOLVXPO
| Q4 25 | $63.0M | $59.0M | ||
| Q3 25 | $1.3B | $82.0M | ||
| Q2 25 | $90.0M | $106.0M | ||
| Q1 25 | $137.0M | $69.0M | ||
| Q4 24 | $31.0M | $75.0M | ||
| Q3 24 | $122.0M | $95.0M | ||
| Q2 24 | $89.0M | $150.0M | ||
| Q1 24 | $237.0M | $67.0M |
毛利率SOLVXPO
| Q4 25 | 51.4% | — | ||
| Q3 25 | 54.2% | — | ||
| Q2 25 | 54.4% | — | ||
| Q1 25 | 53.8% | — | ||
| Q4 24 | 53.9% | — | ||
| Q3 24 | 56.0% | — | ||
| Q2 24 | 54.6% | — | ||
| Q1 24 | 58.1% | — |
营业利润率SOLVXPO
| Q4 25 | 6.3% | 7.1% | ||
| Q3 25 | 80.6% | 7.8% | ||
| Q2 25 | 9.9% | 9.5% | ||
| Q1 25 | 7.3% | 7.7% | ||
| Q4 24 | 6.6% | 7.8% | ||
| Q3 24 | 13.2% | 8.6% | ||
| Q2 24 | 11.7% | 9.5% | ||
| Q1 24 | 18.9% | 6.8% |
净利率SOLVXPO
| Q4 25 | 3.2% | 2.9% | ||
| Q3 25 | 60.4% | 3.9% | ||
| Q2 25 | 4.2% | 5.1% | ||
| Q1 25 | 6.6% | 3.5% | ||
| Q4 24 | 1.5% | 3.9% | ||
| Q3 24 | 5.9% | 4.6% | ||
| Q2 24 | 4.3% | 7.2% | ||
| Q1 24 | 11.8% | 3.3% |
每股收益（稀释后）SOLVXPO
| Q4 25 | $0.37 | $0.49 | ||
| Q3 25 | $7.22 | $0.68 | ||
| Q2 25 | $0.51 | $0.89 | ||
| Q1 25 | $0.78 | $0.58 | ||
| Q4 24 | $0.18 | $0.63 | ||
| Q3 24 | $0.70 | $0.79 | ||
| Q2 24 | $0.51 | $1.25 | ||
| Q1 24 | $1.37 | $0.56 |
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 | $878.0M | $310.0M |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $5.0B | $1.9B |
| 总资产 | $14.3B | $8.2B |
| 负债/权益比越低杠杆越低 | 1.00× | — |
8季度趋势，按日历期对齐
现金及短期投资SOLVXPO
| Q4 25 | $878.0M | $310.0M | ||
| Q3 25 | $1.6B | $335.0M | ||
| Q2 25 | $492.0M | $225.0M | ||
| Q1 25 | $534.0M | $212.0M | ||
| Q4 24 | $762.0M | $246.0M | ||
| Q3 24 | $772.0M | $378.0M | ||
| Q2 24 | $897.0M | $250.0M | ||
| Q1 24 | $996.0M | $229.0M |
总债务SOLVXPO
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $7.9B | — | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | $8.1B | — | ||
| Q2 24 | $8.3B | — | ||
| Q1 24 | $8.3B | — |
股东权益SOLVXPO
| Q4 25 | $5.0B | $1.9B | ||
| Q3 25 | $5.0B | $1.8B | ||
| Q2 25 | $3.6B | $1.8B | ||
| Q1 25 | $3.3B | $1.6B | ||
| Q4 24 | $3.0B | $1.6B | ||
| Q3 24 | $3.2B | $1.6B | ||
| Q2 24 | $2.9B | $1.5B | ||
| Q1 24 | $3.9B | $1.3B |
总资产SOLVXPO
| Q4 25 | $14.3B | $8.2B | ||
| Q3 25 | $14.0B | $8.2B | ||
| Q2 25 | $15.1B | $8.1B | ||
| Q1 25 | $14.5B | $7.9B | ||
| Q4 24 | $14.5B | $7.7B | ||
| Q3 24 | $14.7B | $7.9B | ||
| Q2 24 | $14.6B | $7.7B | ||
| Q1 24 | $14.7B | $7.6B |
负债/权益比SOLVXPO
| Q4 25 | 1.00× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 2.14× | — | ||
| Q1 25 | 2.43× | — | ||
| Q4 24 | 2.71× | — | ||
| Q3 24 | 2.54× | — | ||
| Q2 24 | 2.90× | — | ||
| Q1 24 | 2.16× | — |
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 | $95.0M | — |
| 自由现金流经营现金流 - 资本支出 | $32.0M | — |
| 自由现金流率自由现金流/营收 | 1.6% | — |
| 资本支出强度资本支出/营收 | 3.2% | 5.3% |
| 现金转化率经营现金流/净利润 | 1.51× | — |
| 过去12个月自由现金流最近4个季度 | $-10.0M | — |
8季度趋势，按日历期对齐
经营现金流SOLVXPO
| Q4 25 | $95.0M | — | ||
| Q3 25 | $76.0M | $371.0M | ||
| Q2 25 | $169.0M | $247.0M | ||
| Q1 25 | $29.0M | $142.0M | ||
| Q4 24 | $219.0M | $189.0M | ||
| Q3 24 | $169.0M | $264.0M | ||
| Q2 24 | $355.0M | $210.0M | ||
| Q1 24 | $442.0M | $145.0M |
自由现金流SOLVXPO
| Q4 25 | $32.0M | — | ||
| Q3 25 | $-21.0M | $215.0M | ||
| Q2 25 | $59.0M | $51.0M | ||
| Q1 25 | $-80.0M | $-57.0M | ||
| Q4 24 | $92.0M | $23.0M | ||
| Q3 24 | $76.0M | $137.0M | ||
| Q2 24 | $297.0M | $20.0M | ||
| Q1 24 | $340.0M | $-161.0M |
自由现金流率SOLVXPO
| Q4 25 | 1.6% | — | ||
| Q3 25 | -1.0% | 10.2% | ||
| Q2 25 | 2.7% | 2.5% | ||
| Q1 25 | -3.9% | -2.9% | ||
| Q4 24 | 4.4% | 1.2% | ||
| Q3 24 | 3.7% | 6.7% | ||
| Q2 24 | 14.3% | 1.0% | ||
| Q1 24 | 16.9% | -8.0% |
资本支出强度SOLVXPO
| Q4 25 | 3.2% | 5.3% | ||
| Q3 25 | 4.6% | 7.4% | ||
| Q2 25 | 5.1% | 9.4% | ||
| Q1 25 | 5.3% | 10.2% | ||
| Q4 24 | 6.1% | 8.6% | ||
| Q3 24 | 4.5% | 6.2% | ||
| Q2 24 | 2.8% | 9.1% | ||
| Q1 24 | 5.1% | 15.2% |
现金转化率SOLVXPO
| Q4 25 | 1.51× | — | ||
| Q3 25 | 0.06× | 4.52× | ||
| Q2 25 | 1.88× | 2.33× | ||
| Q1 25 | 0.21× | 2.06× | ||
| Q4 24 | 7.06× | 2.52× | ||
| Q3 24 | 1.39× | 2.78× | ||
| Q2 24 | 3.99× | 1.40× | ||
| Q1 24 | 1.86× | 2.16× |
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
SOLV
| Infection Prevention And Surgical Solutions | $752.0M | 38% |
| Cost Of Software And Rentals | $508.0M | 25% |
| Health Information Systems Segment | $347.0M | 17% |
| Dental Solutions Segment | $343.0M | 17% |
| Related Party | $14.0M | 1% |
XPO
| North American LTL | $1.2B | 58% |
| European Transportation | $844.0M | 42% |
