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Veralto（VLTO）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）财务数据对比。点击上方公司名可切换其他公司
WHITE MOUNTAINS INSURANCE GROUP LTD的季度营收约是Veralto的1.1倍（$1.6B vs $1.4B），WHITE MOUNTAINS INSURANCE GROUP LTD净利率更高（52.1% vs 17.9%，领先34.3%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs 6.8%），过去两年WHITE MOUNTAINS INSURANCE GROUP LTD的营收复合增速更高（57.4% vs 6.8%）
Veralto是总部位于美国马萨诸塞州沃尔瑟姆的科技企业，核心业务覆盖水分析、水处理、标识喷码、包装及色彩管理相关产品的研发与生产，面向全球多领域客户提供适配的技术产品及配套服务。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
VLTO vs WTM — 直观对比
营收规模更大
WTM
是对方的1.1倍
$1.4B
营收增速更快
WTM
高出341.2%
6.8%
净利率更高
WTM
高出34.3%
17.9%
两年增速更快
WTM
近两年复合增速
6.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.6B |
| 净利润 | $254.0M | $835.8M |
| 毛利率 | 60.1% | 97.1% |
| 营业利润率 | 23.8% | 56.2% |
| 净利率 | 17.9% | 52.1% |
| 营收同比 | 6.8% | 348.0% |
| 净利润同比 | 12.9% | 741.0% |
| 每股收益（稀释后） | $1.02 | $325.02 |
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VLTOWTM
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.4B | $1.6B | ||
| Q3 25 | $1.4B | $864.2M | ||
| Q2 25 | $1.3B | $689.2M | ||
| Q1 25 | — | $577.8M | ||
| Q4 24 | $1.3B | $358.0M | ||
| Q3 24 | $1.3B | $839.1M | ||
| Q2 24 | $1.3B | $395.4M |
净利润VLTOWTM
| Q1 26 | $254.0M | — | ||
| Q4 25 | $239.0M | $835.8M | ||
| Q3 25 | $222.0M | $113.8M | ||
| Q2 25 | $225.0M | $122.9M | ||
| Q1 25 | — | $33.9M | ||
| Q4 24 | $227.0M | $-130.4M | ||
| Q3 24 | $219.0M | $179.0M | ||
| Q2 24 | $203.0M | $-54.6M |
毛利率VLTOWTM
| Q1 26 | 60.1% | — | ||
| Q4 25 | 60.1% | 97.1% | ||
| Q3 25 | 60.0% | 93.6% | ||
| Q2 25 | 60.4% | 93.8% | ||
| Q1 25 | — | 98.7% | ||
| Q4 24 | 59.6% | 97.9% | ||
| Q3 24 | 59.6% | 99.1% | ||
| Q2 24 | 60.1% | 98.2% |
营业利润率VLTOWTM
| Q1 26 | 23.8% | — | ||
| Q4 25 | 23.2% | 56.2% | ||
| Q3 25 | 22.8% | 20.7% | ||
| Q2 25 | 24.2% | 25.6% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | 22.9% | -33.7% | ||
| Q3 24 | 23.4% | 28.5% | ||
| Q2 24 | 23.2% | -8.8% |
净利率VLTOWTM
| Q1 26 | 17.9% | — | ||
| Q4 25 | 17.0% | 52.1% | ||
| Q3 25 | 16.2% | 13.2% | ||
| Q2 25 | 16.9% | 17.8% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | 16.9% | -36.4% | ||
| Q3 24 | 16.7% | 21.3% | ||
| Q2 24 | 15.8% | -13.8% |
每股收益（稀释后）VLTOWTM
| Q1 26 | $1.02 | — | ||
| Q4 25 | $0.95 | $325.02 | ||
| Q3 25 | $0.89 | $44.18 | ||
| Q2 25 | $0.90 | $47.75 | ||
| Q1 25 | — | $13.19 | ||
| Q4 24 | $0.91 | $-50.98 | ||
| Q3 24 | $0.88 | $69.68 | ||
| Q2 24 | $0.81 | $-21.24 |
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 | — | — |
| 总债务越低越好 | — | $837.0M |
| 股东权益账面价值 | — | $5.4B |
| 总资产 | — | $12.3B |
| 负债/权益比越低杠杆越低 | — | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资VLTOWTM
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.0B | — |
总债务VLTOWTM
| Q1 26 | — | — | ||
| Q4 25 | $2.7B | $837.0M | ||
| Q3 25 | $2.7B | $870.4M | ||
| Q2 25 | $2.6B | $694.6M | ||
| Q1 25 | — | $676.1M | ||
| Q4 24 | $2.6B | $562.5M | ||
| Q3 24 | $2.6B | $544.9M | ||
| Q2 24 | $2.6B | $530.2M |
股东权益VLTOWTM
| Q1 26 | — | — | ||
| Q4 25 | $2.8B | $5.4B | ||
| Q3 25 | $2.7B | $4.8B | ||
| Q2 25 | $2.3B | $4.6B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | $2.0B | $4.5B | ||
| Q3 24 | $2.0B | $4.6B | ||
| Q2 24 | $1.7B | $4.4B |
总资产VLTOWTM
| Q1 26 | — | — | ||
| Q4 25 | $7.4B | $12.3B | ||
| Q3 25 | $7.2B | $12.3B | ||
| Q2 25 | $6.6B | $11.8B | ||
| Q1 25 | — | $11.0B | ||
| Q4 24 | $6.4B | $9.9B | ||
| Q3 24 | $6.3B | $10.3B | ||
| Q2 24 | $5.9B | $10.2B |
负债/权益比VLTOWTM
| Q1 26 | — | — | ||
| Q4 25 | 0.94× | 0.15× | ||
| Q3 25 | 1.01× | 0.18× | ||
| Q2 25 | 1.14× | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | 1.28× | 0.13× | ||
| Q3 24 | 1.35× | 0.12× | ||
| Q2 24 | 1.57× | 0.12× |
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 | $182.0M | $53.9M |
| 自由现金流经营现金流 - 资本支出 | $170.0M | — |
| 自由现金流率自由现金流/营收 | 12.0% | — |
| 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 | 0.72× | 0.06× |
| 过去12个月自由现金流最近4个季度 | $893.0M | — |
8季度趋势，按日历期对齐
经营现金流VLTOWTM
| Q1 26 | $182.0M | — | ||
| Q4 25 | $270.0M | $53.9M | ||
| Q3 25 | $339.0M | $359.3M | ||
| Q2 25 | $157.0M | $177.5M | ||
| Q1 25 | — | $-40.2M | ||
| Q4 24 | $285.0M | $64.1M | ||
| Q3 24 | $224.0M | $269.4M | ||
| Q2 24 | $251.0M | $216.8M |
自由现金流VLTOWTM
| Q1 26 | $170.0M | — | ||
| Q4 25 | $258.0M | — | ||
| Q3 25 | $323.0M | — | ||
| Q2 25 | $142.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $263.0M | — | ||
| Q3 24 | $215.0M | — | ||
| Q2 24 | $240.0M | — |
自由现金流率VLTOWTM
| Q1 26 | 12.0% | — | ||
| Q4 25 | 18.4% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 10.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 19.6% | — | ||
| Q3 24 | 16.4% | — | ||
| Q2 24 | 18.6% | — |
资本支出强度VLTOWTM
| Q1 26 | 0.8% | — | ||
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 0.9% | — |
现金转化率VLTOWTM
| Q1 26 | 0.72× | — | ||
| Q4 25 | 1.13× | 0.06× | ||
| Q3 25 | 1.53× | 3.16× | ||
| Q2 25 | 0.70× | 1.44× | ||
| Q1 25 | — | -1.19× | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.02× | 1.51× | ||
| Q2 24 | 1.24× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
