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天宝（TRMB）与Vontier Corp（VNT）财务数据对比。点击上方公司名可切换其他公司
天宝的季度营收约是Vontier Corp的1.2倍（$969.8M vs $808.5M），天宝净利率更高（16.1% vs 15.3%，领先0.9%），Vontier Corp同比增速更快（4.1% vs -73.7%），天宝自由现金流更多（$360.9M vs $174.8M），过去两年Vontier Corp的营收复合增速更高（3.4% vs 0.9%）
天宝（Trimble Inc.）是1978年成立的美国科技企业，总部位于科罗拉多州威斯敏斯特，于纳斯达克上市，为标普500成分股。公司面向建筑工程、地理空间测绘、交通物流等多个行业，提供软硬件产品及相关技术服务。
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。
TRMB vs VNT — 直观对比
营收规模更大
TRMB
是对方的1.2倍
$808.5M
营收增速更快
VNT
高出77.8%
-73.7%
净利率更高
TRMB
高出0.9%
15.3%
自由现金流更多
TRMB
多$186.1M
$174.8M
两年增速更快
VNT
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $969.8M | $808.5M |
| 净利润 | $156.6M | $123.5M |
| 毛利率 | 72.0% | — |
| 营业利润率 | 22.3% | 18.9% |
| 净利率 | 16.1% | 15.3% |
| 营收同比 | -73.7% | 4.1% |
| 净利润同比 | 73.6% | 0.0% |
| 每股收益（稀释后） | $0.65 | $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TRMBVNT
| Q4 25 | $901.2M | $808.5M | ||
| Q3 25 | $875.7M | $752.5M | ||
| Q2 25 | $840.6M | $773.5M | ||
| Q1 25 | $983.4M | $741.1M | ||
| Q4 24 | — | $776.8M | ||
| Q3 24 | $875.8M | $750.0M | ||
| Q2 24 | $870.8M | $696.4M | ||
| Q1 24 | $953.3M | $755.8M |
净利润TRMBVNT
| Q4 25 | $111.5M | $123.5M | ||
| Q3 25 | $89.2M | $102.8M | ||
| Q2 25 | $66.7M | $91.9M | ||
| Q1 25 | $90.2M | $87.9M | ||
| Q4 24 | — | $123.5M | ||
| Q3 24 | $40.6M | $91.8M | ||
| Q2 24 | $1.3B | $70.1M | ||
| Q1 24 | $57.2M | $136.8M |
毛利率TRMBVNT
| Q4 25 | 68.9% | — | ||
| Q3 25 | 68.3% | 47.3% | ||
| Q2 25 | 66.7% | 47.9% | ||
| Q1 25 | 69.3% | 47.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 65.7% | 47.2% | ||
| Q2 24 | 62.7% | 48.2% | ||
| Q1 24 | 62.3% | 49.2% |
营业利润率TRMBVNT
| Q4 25 | 16.7% | 18.9% | ||
| Q3 25 | 14.6% | 18.9% | ||
| Q2 25 | 11.6% | 17.6% | ||
| Q1 25 | 17.6% | 17.6% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | 13.3% | 17.5% | ||
| Q2 24 | 7.1% | 16.4% | ||
| Q1 24 | 11.5% | 18.8% |
净利率TRMBVNT
| Q4 25 | 12.4% | 15.3% | ||
| Q3 25 | 10.2% | 13.7% | ||
| Q2 25 | 7.9% | 11.9% | ||
| Q1 25 | 9.2% | 11.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | 4.6% | 12.2% | ||
| Q2 24 | 151.2% | 10.1% | ||
| Q1 24 | 6.0% | 18.1% |
每股收益（稀释后）TRMBVNT
| Q4 25 | $0.46 | $0.85 | ||
| Q3 25 | $0.37 | $0.70 | ||
| Q2 25 | $0.27 | $0.62 | ||
| Q1 25 | $0.36 | $0.59 | ||
| Q4 24 | — | $0.82 | ||
| Q3 24 | $0.16 | $0.60 | ||
| Q2 24 | $5.34 | $0.45 | ||
| Q1 24 | $0.23 | $0.88 |
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 | $253.4M | $492.2M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $5.8B | $1.2B |
| 总资产 | $9.3B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.24× | — |
8季度趋势，按日历期对齐
现金及短期投资TRMBVNT
| Q4 25 | $232.7M | $492.2M | ||
| Q3 25 | $265.9M | $433.8M | ||
| Q2 25 | $290.0M | $364.2M | ||
| Q1 25 | $738.8M | $333.6M | ||
| Q4 24 | — | $356.4M | ||
| Q3 24 | $1.0B | $330.9M | ||
| Q2 24 | $944.1M | $331.3M | ||
| Q1 24 | $255.1M | $406.0M |
总债务TRMBVNT
| Q4 25 | $1.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益TRMBVNT
| Q4 25 | $5.8B | $1.2B | ||
| Q3 25 | $5.7B | $1.2B | ||
| Q2 25 | $5.4B | $1.2B | ||
| Q1 25 | $5.7B | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $5.9B | $1.0B | ||
| Q2 24 | $5.6B | $1.0B | ||
| Q1 24 | $4.3B | $984.9M |
总资产TRMBVNT
| Q4 25 | $9.0B | $4.4B | ||
| Q3 25 | $9.1B | $4.4B | ||
| Q2 25 | $8.9B | $4.4B | ||
| Q1 25 | $9.5B | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | $9.9B | $4.3B | ||
| Q2 24 | $9.6B | $4.2B | ||
| Q1 24 | $9.3B | $4.3B |
负债/权益比TRMBVNT
| Q4 25 | 0.24× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.24× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $386.2M | $190.1M |
| 自由现金流经营现金流 - 资本支出 | $360.9M | $174.8M |
| 自由现金流率自由现金流/营收 | 37.2% | 21.6% |
| 资本支出强度资本支出/营收 | 2.6% | 1.9% |
| 现金转化率经营现金流/净利润 | 2.47× | 1.54× |
| 过去12个月自由现金流最近4个季度 | — | $441.1M |
8季度趋势，按日历期对齐
经营现金流TRMBVNT
| Q4 25 | — | $190.1M | ||
| Q3 25 | $123.8M | $110.5M | ||
| Q2 25 | $155.6M | $100.0M | ||
| Q1 25 | $115.1M | $110.4M | ||
| Q4 24 | — | $168.1M | ||
| Q3 24 | $94.9M | $121.8M | ||
| Q2 24 | $87.6M | $46.1M | ||
| Q1 24 | $233.8M | $91.5M |
自由现金流TRMBVNT
| Q4 25 | — | $174.8M | ||
| Q3 25 | $116.6M | $90.3M | ||
| Q2 25 | $149.0M | $83.3M | ||
| Q1 25 | $109.0M | $92.7M | ||
| Q4 24 | — | $148.0M | ||
| Q3 24 | $88.5M | $103.2M | ||
| Q2 24 | $73.3M | $22.3M | ||
| Q1 24 | $227.0M | $71.3M |
自由现金流率TRMBVNT
| Q4 25 | — | 21.6% | ||
| Q3 25 | 13.3% | 12.0% | ||
| Q2 25 | 17.7% | 10.8% | ||
| Q1 25 | 11.1% | 12.5% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | 10.1% | 13.8% | ||
| Q2 24 | 8.4% | 3.2% | ||
| Q1 24 | 23.8% | 9.4% |
资本支出强度TRMBVNT
| Q4 25 | — | 1.9% | ||
| Q3 25 | 0.8% | 2.7% | ||
| Q2 25 | 0.8% | 2.2% | ||
| Q1 25 | 0.6% | 2.4% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 0.7% | 2.5% | ||
| Q2 24 | 1.6% | 3.4% | ||
| Q1 24 | 0.7% | 2.7% |
现金转化率TRMBVNT
| Q4 25 | — | 1.54× | ||
| Q3 25 | 1.39× | 1.07× | ||
| Q2 25 | 2.33× | 1.09× | ||
| Q1 25 | 1.28× | 1.26× | ||
| Q4 24 | — | 1.36× | ||
| Q3 24 | 2.34× | 1.33× | ||
| Q2 24 | 0.07× | 0.66× | ||
| Q1 24 | 4.09× | 0.67× |
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
TRMB
| Subscription and services | $701.5M | 72% |
| Product | $268.3M | 28% |
VNT
| Environmental Fueling Solutions Segment | $387.5M | 48% |
| Services | $191.0M | 24% |
| Repair Solutions Segment | $144.5M | 18% |
| Other | $85.5M | 11% |
