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TJX Companies（TJX）与德州仪器（TXN）财务数据对比。点击上方公司名可切换其他公司
德州仪器的季度营收约是TJX Companies的1.2倍（$18.4B vs $15.1B），TJX Companies净利率更高（9.5% vs 8.4%，领先1.2%），德州仪器同比增速更快（18.6% vs 7.5%），德州仪器自由现金流更多（$1.4B vs $1.0B），过去两年德州仪器的营收复合增速更高（119.6% vs -4.0%）
TJX Companies是美国跨国折扣百货零售集团，总部位于马萨诸塞州弗雷明汉。1987年作为Zayre集团的子公司成立，1989年完成企业重组后成为Zayre集团的法定承继主体，是全球折扣零售行业的领先企业，业务布局覆盖全球多个主要市场。
德州仪器（TI）是总部位于美国得克萨斯州达拉斯的跨国半导体企业，销售额位居全球半导体行业前十。公司核心业务为模拟芯片与嵌入式处理器研发，相关收入占总营收80%以上，此外还拥有DLP数字光处理技术，生产计算器、微控制器、多核处理器等教育科技产品。
TJX vs TXN — 直观对比
营收规模更大
TXN
是对方的1.2倍
$15.1B
营收增速更快
TXN
高出11.1%
7.5%
净利率更高
TJX
高出1.2%
8.4%
自由现金流更多
TXN
多$398.0M
$1.0B
两年增速更快
TXN
近两年复合增速
-4.0%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $15.1B | $18.4B |
| 净利润 | $1.4B | $1.5B |
| 毛利率 | 32.6% | 15.2% |
| 营业利润率 | — | 9.8% |
| 净利率 | 9.5% | 8.4% |
| 营收同比 | 7.5% | 18.6% |
| 净利润同比 | 11.2% | 31.0% |
| 每股收益（稀释后） | $1.28 | $1.68 |
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TJXTXN
| Q1 26 | — | $18.4B | ||
| Q4 25 | $15.1B | $4.4B | ||
| Q3 25 | $14.4B | $4.7B | ||
| Q2 25 | $13.1B | $4.4B | ||
| Q1 25 | $16.4B | $4.1B | ||
| Q4 24 | $14.1B | $4.0B | ||
| Q3 24 | $13.5B | $4.2B | ||
| Q2 24 | $12.5B | $3.8B |
净利润TJXTXN
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.1B | $1.4B | ||
| Q2 24 | $1.1B | $1.1B |
毛利率TJXTXN
| Q1 26 | — | 15.2% | ||
| Q4 25 | 32.6% | 55.9% | ||
| Q3 25 | 30.7% | 57.4% | ||
| Q2 25 | 29.5% | 57.9% | ||
| Q1 25 | 30.5% | 56.8% | ||
| Q4 24 | 31.6% | 57.7% | ||
| Q3 24 | 30.4% | 59.6% | ||
| Q2 24 | 30.0% | 57.8% |
营业利润率TJXTXN
| Q1 26 | — | 9.8% | ||
| Q4 25 | — | 33.3% | ||
| Q3 25 | — | 35.1% | ||
| Q2 25 | — | 35.1% | ||
| Q1 25 | 11.6% | 32.5% | ||
| Q4 24 | 12.3% | 34.4% | ||
| Q3 24 | 10.9% | 37.4% | ||
| Q2 24 | 11.1% | 32.7% |
净利率TJXTXN
| Q1 26 | — | 8.4% | ||
| Q4 25 | 9.5% | 26.3% | ||
| Q3 25 | 8.6% | 28.8% | ||
| Q2 25 | 7.9% | 29.1% | ||
| Q1 25 | 8.6% | 29.0% | ||
| Q4 24 | 9.2% | 30.1% | ||
| Q3 24 | 8.2% | 32.8% | ||
| Q2 24 | 8.6% | 29.5% |
每股收益（稀释后）TJXTXN
| Q1 26 | — | $1.68 | ||
| Q4 25 | $1.28 | $1.28 | ||
| Q3 25 | $1.10 | $1.48 | ||
| Q2 25 | $0.92 | $1.41 | ||
| Q1 25 | $1.23 | $1.28 | ||
| Q4 24 | $1.14 | $1.31 | ||
| Q3 24 | $0.96 | $1.47 | ||
| Q2 24 | $0.93 | $1.22 |
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 | $4.6B | $5.1B |
| 总债务越低越好 | — | $14.1B |
| 股东权益账面价值 | $9.4B | $16.8B |
| 总资产 | $35.2B | $34.4B |
| 负债/权益比越低杠杆越低 | — | 0.84× |
8季度趋势，按日历期对齐
现金及短期投资TJXTXN
| Q1 26 | — | $5.1B | ||
| Q4 25 | $4.6B | $4.9B | ||
| Q3 25 | $4.6B | $5.2B | ||
| Q2 25 | $4.3B | $5.4B | ||
| Q1 25 | $5.3B | $5.0B | ||
| Q4 24 | $4.7B | $7.6B | ||
| Q3 24 | $5.3B | $8.8B | ||
| Q2 24 | $5.1B | $9.7B |
总债务TJXTXN
| Q1 26 | — | $14.1B | ||
| Q4 25 | — | $14.0B | ||
| Q3 25 | — | $14.0B | ||
| Q2 25 | — | $14.0B | ||
| Q1 25 | — | $12.8B | ||
| Q4 24 | — | $13.6B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B |
股东权益TJXTXN
| Q1 26 | — | $16.8B | ||
| Q4 25 | $9.4B | $16.3B | ||
| Q3 25 | $8.9B | $16.6B | ||
| Q2 25 | $8.5B | $16.4B | ||
| Q1 25 | $8.4B | $16.4B | ||
| Q4 24 | $8.2B | $16.9B | ||
| Q3 24 | $7.8B | $17.3B | ||
| Q2 24 | $7.5B | $17.2B |
总资产TJXTXN
| Q1 26 | — | $34.4B | ||
| Q4 25 | $35.2B | $34.6B | ||
| Q3 25 | $32.9B | $35.0B | ||
| Q2 25 | $31.9B | $34.9B | ||
| Q1 25 | $31.7B | $33.8B | ||
| Q4 24 | $32.4B | $35.5B | ||
| Q3 24 | $30.6B | $35.3B | ||
| Q2 24 | $29.7B | $35.0B |
负债/权益比TJXTXN
| Q1 26 | — | 0.84× | ||
| Q4 25 | — | 0.86× | ||
| Q3 25 | — | 0.84× | ||
| Q2 25 | — | 0.86× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.80× | ||
| Q2 24 | — | 0.81× |
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 | $1.5B | — |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $1.4B |
| 自由现金流率自由现金流/营收 | 6.6% | 7.6% |
| 资本支出强度资本支出/营收 | 3.5% | 3.7% |
| 现金转化率经营现金流/净利润 | 1.06× | — |
| 过去12个月自由现金流最近4个季度 | $4.4B | $4.3B |
8季度趋势，按日历期对齐
经营现金流TJXTXN
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $2.3B | ||
| Q3 25 | $1.8B | $2.2B | ||
| Q2 25 | $394.0M | $1.9B | ||
| Q1 25 | $2.7B | $849.0M | ||
| Q4 24 | $1.0B | $2.0B | ||
| Q3 24 | $1.6B | $1.7B | ||
| Q2 24 | $737.0M | $1.6B |
自由现金流TJXTXN
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.0B | $1.3B | ||
| Q3 25 | $1.3B | $993.0M | ||
| Q2 25 | $-103.0M | $555.0M | ||
| Q1 25 | $2.2B | $-274.0M | ||
| Q4 24 | $624.0M | $806.0M | ||
| Q3 24 | $1.1B | $416.0M | ||
| Q2 24 | $318.0M | $507.0M |
自由现金流率TJXTXN
| Q1 26 | — | 7.6% | ||
| Q4 25 | 6.6% | 30.0% | ||
| Q3 25 | 9.2% | 20.9% | ||
| Q2 25 | -0.8% | 12.5% | ||
| Q1 25 | 13.4% | -6.7% | ||
| Q4 24 | 4.4% | 20.1% | ||
| Q3 24 | 7.9% | 10.0% | ||
| Q2 24 | 2.5% | 13.3% |
资本支出强度TJXTXN
| Q1 26 | — | 3.7% | ||
| Q4 25 | 3.5% | 20.9% | ||
| Q3 25 | 3.2% | 25.2% | ||
| Q2 25 | 3.8% | 29.3% | ||
| Q1 25 | 3.1% | 27.6% | ||
| Q4 24 | 3.0% | 29.7% | ||
| Q3 24 | 4.2% | 31.7% | ||
| Q2 24 | 3.4% | 27.8% |
现金转化率TJXTXN
| Q1 26 | — | — | ||
| Q4 25 | 1.06× | 1.94× | ||
| Q3 25 | 1.44× | 1.61× | ||
| Q2 25 | 0.38× | 1.44× | ||
| Q1 25 | 1.93× | 0.72× | ||
| Q4 24 | 0.81× | 1.66× | ||
| Q3 24 | 1.48× | 1.27× | ||
| Q2 24 | 0.69× | 1.39× |
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
TJX
| Marmaxx | $9.0B | 60% |
| Home Goods | $2.5B | 17% |
| TJX International | $2.0B | 14% |
| Tjx Canada | $1.5B | 10% |
TXN
暂无分部数据
