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维谛技术（VRT）与Wabtec（WAB）财务数据对比。点击上方公司名可切换其他公司
Wabtec的季度营收约是维谛技术的1.1倍（$3.0B vs $2.6B），维谛技术净利率更高（14.7% vs 12.3%，领先2.4%），维谛技术同比增速更快（30.1% vs 13.0%），过去两年维谛技术的营收复合增速更高（16.5% vs 5.6%）
维谛技术（Vertiv）是一家美国跨国企业，专注于为数据中心、通信网络、商业及工业场景提供关键基础设施及配套服务，旗下方案可有效保障各行业客户关键业务系统的稳定高效运行。
西屋空气制动技术公司（通称Wabtec）是美国知名轨道交通设备企业，1999年由西屋空气制动公司（WABCO）与动力设备厂商MotivePower合并组建，总部设于宾夕法尼亚州匹兹堡，在全球轨交制动系统、牵引动力设备等领域拥有领先的技术实力与市场份额。
VRT vs WAB — 直观对比
营收规模更大
WAB
是对方的1.1倍
$2.6B
营收增速更快
VRT
高出17.1%
13.0%
净利率更高
VRT
高出2.4%
12.3%
两年增速更快
VRT
近两年复合增速
5.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $3.0B |
| 净利润 | $390.1M | $363.0M |
| 毛利率 | 37.7% | 36.0% |
| 营业利润率 | — | 17.5% |
| 净利率 | 14.7% | 12.3% |
| 营收同比 | 30.1% | 13.0% |
| 净利润同比 | 137.1% | 11.0% |
| 每股收益（稀释后） | $0.99 | $2.12 |
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VRTWAB
| Q1 26 | $2.6B | $3.0B | ||
| Q4 25 | $2.9B | $3.0B | ||
| Q3 25 | $2.7B | $2.9B | ||
| Q2 25 | $2.6B | $2.7B | ||
| Q1 25 | $2.0B | $2.6B | ||
| Q4 24 | $2.3B | $2.6B | ||
| Q3 24 | $2.1B | $2.7B | ||
| Q2 24 | $2.0B | $2.6B |
净利润VRTWAB
| Q1 26 | $390.1M | $363.0M | ||
| Q4 25 | $445.6M | $202.0M | ||
| Q3 25 | $398.5M | $310.0M | ||
| Q2 25 | $324.2M | $336.0M | ||
| Q1 25 | $164.5M | $322.0M | ||
| Q4 24 | $147.0M | $212.0M | ||
| Q3 24 | $176.6M | $283.0M | ||
| Q2 24 | $178.1M | $289.0M |
毛利率VRTWAB
| Q1 26 | 37.7% | 36.0% | ||
| Q4 25 | 38.9% | 32.6% | ||
| Q3 25 | 37.8% | 34.7% | ||
| Q2 25 | 34.0% | 34.7% | ||
| Q1 25 | 33.7% | 34.5% | ||
| Q4 24 | 37.1% | 30.9% | ||
| Q3 24 | 36.5% | 33.0% | ||
| Q2 24 | 38.0% | 33.1% |
营业利润率VRTWAB
| Q1 26 | — | 17.5% | ||
| Q4 25 | 20.1% | 12.0% | ||
| Q3 25 | 19.3% | 17.0% | ||
| Q2 25 | 16.8% | 17.4% | ||
| Q1 25 | 14.3% | 18.2% | ||
| Q4 24 | 19.5% | 12.9% | ||
| Q3 24 | 17.9% | 16.3% | ||
| Q2 24 | 17.2% | 16.3% |
净利率VRTWAB
| Q1 26 | 14.7% | 12.3% | ||
| Q4 25 | 15.5% | 6.8% | ||
| Q3 25 | 14.9% | 10.7% | ||
| Q2 25 | 12.3% | 12.4% | ||
| Q1 25 | 8.1% | 12.3% | ||
| Q4 24 | 6.3% | 8.2% | ||
| Q3 24 | 8.5% | 10.6% | ||
| Q2 24 | 9.1% | 10.9% |
每股收益（稀释后）VRTWAB
| Q1 26 | $0.99 | $2.12 | ||
| Q4 25 | $1.14 | $1.18 | ||
| Q3 25 | $1.02 | $1.81 | ||
| Q2 25 | $0.83 | $1.96 | ||
| Q1 25 | $0.42 | $1.88 | ||
| Q4 24 | $0.38 | $1.24 | ||
| Q3 24 | $0.46 | $1.63 | ||
| Q2 24 | $0.46 | $1.64 |
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 | $2.5B | — |
| 总债务越低越好 | $0 | $4.7B |
| 股东权益账面价值 | $4.2B | $11.1B |
| 总资产 | $13.4B | $23.2B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资VRTWAB
| Q1 26 | $2.5B | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $908.7M | — | ||
| Q2 24 | $579.7M | — |
总债务VRTWAB
| Q1 26 | $0 | $4.7B | ||
| Q4 25 | $2.9B | $5.5B | ||
| Q3 25 | $2.9B | $5.3B | ||
| Q2 25 | $2.9B | $4.8B | ||
| Q1 25 | $2.9B | $4.0B | ||
| Q4 24 | $2.9B | $4.0B | ||
| Q3 24 | $2.9B | $4.0B | ||
| Q2 24 | $2.9B | $4.0B |
股东权益VRTWAB
| Q1 26 | $4.2B | $11.1B | ||
| Q4 25 | $3.9B | $11.1B | ||
| Q3 25 | $3.5B | $11.0B | ||
| Q2 25 | $3.1B | $10.8B | ||
| Q1 25 | $2.7B | $10.4B | ||
| Q4 24 | $2.4B | $10.1B | ||
| Q3 24 | $1.8B | $10.3B | ||
| Q2 24 | $1.5B | $10.5B |
总资产VRTWAB
| Q1 26 | $13.4B | $23.2B | ||
| Q4 25 | $12.2B | $22.1B | ||
| Q3 25 | $10.8B | $21.5B | ||
| Q2 25 | $10.4B | $20.4B | ||
| Q1 25 | $9.5B | $19.1B | ||
| Q4 24 | $9.1B | $18.7B | ||
| Q3 24 | $8.9B | $18.6B | ||
| Q2 24 | $8.1B | $18.9B |
负债/权益比VRTWAB
| Q1 26 | 0.00× | 0.42× | ||
| Q4 25 | 0.74× | 0.50× | ||
| Q3 25 | 0.83× | 0.48× | ||
| Q2 25 | 0.93× | 0.44× | ||
| Q1 25 | 1.10× | 0.39× | ||
| Q4 24 | 1.20× | 0.39× | ||
| Q3 24 | 1.62× | 0.39× | ||
| Q2 24 | 1.91× | 0.38× |
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 | — | $199.0M |
| 自由现金流经营现金流 - 资本支出 | $652.8M | — |
| 自由现金流率自由现金流/营收 | 24.6% | — |
| 资本支出强度资本支出/营收 | 4.2% | — |
| 现金转化率经营现金流/净利润 | — | 0.55× |
| 过去12个月自由现金流最近4个季度 | $2.3B | — |
8季度趋势，按日历期对齐
经营现金流VRTWAB
| Q1 26 | — | $199.0M | ||
| Q4 25 | $978.9M | $992.0M | ||
| Q3 25 | $508.7M | $367.0M | ||
| Q2 25 | $322.9M | $209.0M | ||
| Q1 25 | $303.3M | $191.0M | ||
| Q4 24 | $425.2M | $723.0M | ||
| Q3 24 | $378.2M | $542.0M | ||
| Q2 24 | $378.4M | $235.0M |
自由现金流VRTWAB
| Q1 26 | $652.8M | — | ||
| Q4 25 | $885.6M | $870.0M | ||
| Q3 25 | $463.5M | $312.0M | ||
| Q2 25 | $277.9M | $170.0M | ||
| Q1 25 | $266.8M | $147.0M | ||
| Q4 24 | $364.5M | $639.0M | ||
| Q3 24 | $341.8M | $496.0M | ||
| Q2 24 | $344.3M | $189.0M |
自由现金流率VRTWAB
| Q1 26 | 24.6% | — | ||
| Q4 25 | 30.8% | 29.3% | ||
| Q3 25 | 17.3% | 10.8% | ||
| Q2 25 | 10.5% | 6.3% | ||
| Q1 25 | 13.1% | 5.6% | ||
| Q4 24 | 15.5% | 24.7% | ||
| Q3 24 | 16.5% | 18.6% | ||
| Q2 24 | 17.6% | 7.1% |
资本支出强度VRTWAB
| Q1 26 | 4.2% | — | ||
| Q4 25 | 3.2% | 4.1% | ||
| Q3 25 | 1.7% | 1.9% | ||
| Q2 25 | 1.7% | 1.4% | ||
| Q1 25 | 1.8% | 1.7% | ||
| Q4 24 | 2.6% | 3.3% | ||
| Q3 24 | 1.8% | 1.7% | ||
| Q2 24 | 1.7% | 1.7% |
现金转化率VRTWAB
| Q1 26 | — | 0.55× | ||
| Q4 25 | 2.20× | 4.91× | ||
| Q3 25 | 1.28× | 1.18× | ||
| Q2 25 | 1.00× | 0.62× | ||
| Q1 25 | 1.84× | 0.59× | ||
| Q4 24 | 2.89× | 3.41× | ||
| Q3 24 | 2.14× | 1.92× | ||
| Q2 24 | 2.12× | 0.81× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
