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德事隆（TXT）与Welltower（WELL）财务数据对比。点击上方公司名可切换其他公司
德事隆的季度营收约是Welltower的1.2倍（$4.2B vs $3.4B），Welltower净利率更高（22.4% vs 5.6%，领先16.8%），Welltower同比增速更快（38.3% vs 15.6%），过去两年Welltower的营收复合增速更高（55.1% vs 15.4%）
德事隆是总部位于美国罗德岛州普罗维登斯的工业集团，1923年由罗亚尔·利特尔创立，前身为特种纱线公司。旗下拥有贝尔德事隆、考泰斯、德事隆航空、莱康明发动机等子公司，业务覆盖25个国家，2020年员工总数超3.3万人，2021年位列美国财富500强第265位。
Welltower Inc.是一家专注于医疗基础设施领域的房地产投资信托企业，核心业务为医疗类地产投资运营。截至2022年12月31日，公司投资的物业总量约3000处，全部布局于美国、加拿大及英国市场，是全球医疗地产投资领域的代表性企业之一。
TXT vs WELL — 直观对比
营收规模更大
TXT
是对方的1.2倍
$3.4B
营收增速更快
WELL
高出22.8%
15.6%
净利率更高
WELL
高出16.8%
5.6%
两年增速更快
WELL
近两年复合增速
15.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $3.4B |
| 净利润 | $235.0M | $752.3M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 5.6% | 22.4% |
| 营收同比 | 15.6% | 38.3% |
| 净利润同比 | 66.7% | 192.4% |
| 每股收益（稀释后） | — | — |
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TXTWELL
| Q1 26 | — | $3.4B | ||
| Q4 25 | $4.2B | $2.6B | ||
| Q3 25 | $3.6B | $2.1B | ||
| Q2 25 | $3.7B | $2.0B | ||
| Q1 25 | $3.3B | $1.9B | ||
| Q4 24 | $3.6B | $1.8B | ||
| Q3 24 | $3.4B | $1.5B | ||
| Q2 24 | $3.5B | $1.4B |
净利润TXTWELL
| Q1 26 | — | $752.3M | ||
| Q4 25 | $235.0M | $117.8M | ||
| Q3 25 | $234.0M | $282.2M | ||
| Q2 25 | $245.0M | $304.6M | ||
| Q1 25 | $207.0M | $257.3M | ||
| Q4 24 | $141.0M | $123.8M | ||
| Q3 24 | $223.0M | $456.8M | ||
| Q2 24 | $259.0M | $260.7M |
毛利率TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 23.5% | ||
| Q2 25 | — | 23.2% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 20.0% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | — | 20.2% |
营业利润率TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 14.2% | ||
| Q2 25 | — | 15.1% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | 3.6% | 6.2% | ||
| Q3 24 | 7.4% | 12.2% | ||
| Q2 24 | 9.2% | 6.5% |
净利率TXTWELL
| Q1 26 | — | 22.4% | ||
| Q4 25 | 5.6% | 4.6% | ||
| Q3 25 | 6.5% | 13.7% | ||
| Q2 25 | 6.6% | 15.5% | ||
| Q1 25 | 6.3% | 13.8% | ||
| Q4 24 | 3.9% | 7.0% | ||
| Q3 24 | 6.5% | 30.2% | ||
| Q2 24 | 7.3% | 18.7% |
每股收益（稀释后）TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | — | $0.13 | ||
| Q3 25 | — | $0.41 | ||
| Q2 25 | — | $0.45 | ||
| Q1 25 | $1.13 | $0.40 | ||
| Q4 24 | — | $0.20 | ||
| Q3 24 | — | $0.73 | ||
| Q2 24 | — | $0.42 |
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 | — | $4.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $44.7B |
| 总资产 | — | $67.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资TXTWELL
| Q1 26 | — | $4.7B | ||
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $6.8B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $3.5B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $2.8B |
总债务TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | — | $19.2B | ||
| Q3 25 | — | $16.9B | ||
| Q2 25 | — | $16.0B | ||
| Q1 25 | — | $15.7B | ||
| Q4 24 | — | $15.5B | ||
| Q3 24 | — | $15.8B | ||
| Q2 24 | — | $13.9B |
股东权益TXTWELL
| Q1 26 | — | $44.7B | ||
| Q4 25 | — | $42.1B | ||
| Q3 25 | $7.5B | $38.8B | ||
| Q2 25 | $7.4B | $35.9B | ||
| Q1 25 | $7.3B | $34.0B | ||
| Q4 24 | $7.2B | $32.0B | ||
| Q3 24 | $7.0B | $30.3B | ||
| Q2 24 | $6.9B | $29.0B |
总资产TXTWELL
| Q1 26 | — | $67.2B | ||
| Q4 25 | — | $67.3B | ||
| Q3 25 | $17.4B | $59.5B | ||
| Q2 25 | $17.1B | $55.8B | ||
| Q1 25 | $16.9B | $53.3B | ||
| Q4 24 | $16.8B | $51.0B | ||
| Q3 24 | $16.5B | $49.0B | ||
| Q2 24 | $16.4B | $45.5B |
负债/权益比TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.46× | ||
| Q4 24 | — | 0.49× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 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 | $700.0M | — |
| 自由现金流经营现金流 - 资本支出 | $527.0M | — |
| 自由现金流率自由现金流/营收 | 12.6% | — |
| 资本支出强度资本支出/营收 | 4.1% | — |
| 现金转化率经营现金流/净利润 | 2.98× | — |
| 过去12个月自由现金流最近4个季度 | $929.0M | — |
8季度趋势，按日历期对齐
经营现金流TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | $700.0M | $654.3M | ||
| Q3 25 | $349.0M | $858.4M | ||
| Q2 25 | $387.0M | $770.0M | ||
| Q1 25 | $-124.0M | $599.0M | ||
| Q4 24 | $446.0M | $559.2M | ||
| Q3 24 | $208.0M | $685.0M | ||
| Q2 24 | $367.0M | $605.4M |
自由现金流TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | $527.0M | $340.4M | ||
| Q3 25 | $273.0M | $595.3M | ||
| Q2 25 | $309.0M | $537.2M | ||
| Q1 25 | $-180.0M | $358.6M | ||
| Q4 24 | $293.0M | $240.4M | ||
| Q3 24 | $137.0M | $443.8M | ||
| Q2 24 | $293.0M | $440.3M |
自由现金流率TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | 12.6% | 13.3% | ||
| Q3 25 | 7.6% | 28.9% | ||
| Q2 25 | 8.3% | 27.3% | ||
| Q1 25 | -5.4% | 19.2% | ||
| Q4 24 | 8.1% | 13.6% | ||
| Q3 24 | 4.0% | 29.4% | ||
| Q2 24 | 8.3% | 31.6% |
资本支出强度TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | 12.3% | ||
| Q3 25 | 2.1% | 12.8% | ||
| Q2 25 | 2.1% | 11.8% | ||
| Q1 25 | 1.7% | 12.9% | ||
| Q4 24 | 4.2% | 18.1% | ||
| Q3 24 | 2.1% | 16.0% | ||
| Q2 24 | 2.1% | 11.8% |
现金转化率TXTWELL
| Q1 26 | — | — | ||
| Q4 25 | 2.98× | 5.56× | ||
| Q3 25 | 1.49× | 3.04× | ||
| Q2 25 | 1.58× | 2.53× | ||
| Q1 25 | -0.60× | 2.33× | ||
| Q4 24 | 3.16× | 4.52× | ||
| Q3 24 | 0.93× | 1.50× | ||
| Q2 24 | 1.42× | 2.32× |
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
TXT
| Aircraft | $1.2B | 29% |
| Military Aircraft And Support Programs | $655.0M | 16% |
| Aftermarket Parts And Services | $551.0M | 13% |
| Services | $507.0M | 12% |
| Fuel Systems And Functional Components | $480.0M | 11% |
| Textron Systems | $323.0M | 8% |
| Other | $317.0M | 8% |
| US Government | $119.0M | 3% |
| Finance | $18.0M | 0% |
| Textron E Aviation Segment | $7.0M | 0% |
WELL
| Resident fees and services | $2.8B | 83% |
| Rental income | $453.8M | 14% |
| Other | $117.2M | 3% |
