vs
Williams Companies（WMB）与赛莱默（XYL）财务数据对比。点击上方公司名可切换其他公司
Williams Companies的季度营收约是赛莱默的1.8倍（$3.8B vs $2.1B），Williams Companies净利率更高（19.1% vs 8.9%，领先10.2%），Williams Companies同比增速更快（12.7% vs 2.7%），过去两年Williams Companies的营收复合增速更高（7.3% vs -1.0%）
总部位于美国俄克拉荷马州塔尔萨的能源企业，位列《财富》美国500强，普通股为标普500指数成分股，核心业务为天然气加工与运输，同时持有石油、发电相关资产。
该文本为植物学对木质部的定义说明，并非赛莱默公司（Xylem Inc.）的企业业务介绍。Xylem Inc.是一家专注于水技术与解决方案的全球企业，提供水务基础设施、水环境治理等相关设备与服务。
WMB vs XYL — 直观对比
营收规模更大
WMB
是对方的1.8倍
$2.1B
营收增速更快
WMB
高出10.0%
2.7%
净利率更高
WMB
高出10.2%
8.9%
两年增速更快
WMB
近两年复合增速
-1.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $2.1B |
| 净利润 | $734.0M | $189.0M |
| 毛利率 | — | 37.8% |
| 营业利润率 | 27.3% | 11.5% |
| 净利率 | 19.1% | 8.9% |
| 营收同比 | 12.7% | 2.7% |
| 净利润同比 | 51.0% | 13.2% |
| 每股收益（稀释后） | $0.60 | $0.79 |
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WMBXYL
| Q1 26 | — | $2.1B | ||
| Q4 25 | $3.8B | $2.4B | ||
| Q3 25 | $3.5B | $2.3B | ||
| Q2 25 | $3.4B | $2.3B | ||
| Q1 25 | $4.2B | $2.1B | ||
| Q4 24 | $3.4B | $2.3B | ||
| Q3 24 | $3.0B | $2.1B | ||
| Q2 24 | $2.8B | $2.2B |
净利润WMBXYL
| Q1 26 | — | $189.0M | ||
| Q4 25 | $734.0M | $335.0M | ||
| Q3 25 | $647.0M | $227.0M | ||
| Q2 25 | $546.0M | $226.0M | ||
| Q1 25 | $691.0M | $169.0M | ||
| Q4 24 | $486.0M | $326.0M | ||
| Q3 24 | $706.0M | $217.0M | ||
| Q2 24 | $401.0M | $194.0M |
毛利率WMBXYL
| Q1 26 | — | 37.8% | ||
| Q4 25 | — | 38.9% | ||
| Q3 25 | — | 38.9% | ||
| Q2 25 | — | 38.8% | ||
| Q1 25 | — | 37.1% | ||
| Q4 24 | — | 38.0% | ||
| Q3 24 | — | 37.3% | ||
| Q2 24 | — | 37.8% |
营业利润率WMBXYL
| Q1 26 | — | 11.5% | ||
| Q4 25 | 27.3% | 14.7% | ||
| Q3 25 | 31.8% | 14.7% | ||
| Q2 25 | 28.0% | 13.3% | ||
| Q1 25 | 26.1% | 11.2% | ||
| Q4 24 | 23.2% | 11.8% | ||
| Q3 24 | 27.6% | 13.3% | ||
| Q2 24 | 24.4% | 11.7% |
净利率WMBXYL
| Q1 26 | — | 8.9% | ||
| Q4 25 | 19.1% | 14.0% | ||
| Q3 25 | 18.5% | 10.0% | ||
| Q2 25 | 16.2% | 9.8% | ||
| Q1 25 | 16.5% | 8.2% | ||
| Q4 24 | 14.2% | 14.5% | ||
| Q3 24 | 23.3% | 10.3% | ||
| Q2 24 | 14.1% | 8.9% |
每股收益（稀释后）WMBXYL
| Q1 26 | — | $0.79 | ||
| Q4 25 | $0.60 | $1.37 | ||
| Q3 25 | $0.53 | $0.93 | ||
| Q2 25 | $0.45 | $0.93 | ||
| Q1 25 | $0.56 | $0.69 | ||
| Q4 24 | $0.39 | $1.33 | ||
| Q3 24 | $0.58 | $0.89 | ||
| Q2 24 | $0.33 | $0.80 |
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 | — | $808.0M |
| 总债务越低越好 | $27.3B | $1.9B |
| 股东权益账面价值 | $12.8B | $11.0B |
| 总资产 | $58.6B | $17.0B |
| 负债/权益比越低杠杆越低 | 2.13× | 0.18× |
8季度趋势，按日历期对齐
现金及短期投资WMBXYL
| Q1 26 | — | $808.0M | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $989.0M | ||
| Q2 24 | — | $815.0M |
总债务WMBXYL
| Q1 26 | — | $1.9B | ||
| Q4 25 | $27.3B | $2.0B | ||
| Q3 25 | $25.6B | $2.0B | ||
| Q2 25 | $25.6B | $2.0B | ||
| Q1 25 | $24.1B | $2.0B | ||
| Q4 24 | $24.7B | $2.0B | ||
| Q3 24 | $24.8B | — | ||
| Q2 24 | $24.1B | — |
股东权益WMBXYL
| Q1 26 | — | $11.0B | ||
| Q4 25 | $12.8B | $11.5B | ||
| Q3 25 | $12.5B | $11.2B | ||
| Q2 25 | $12.4B | $11.1B | ||
| Q1 25 | $12.5B | $10.8B | ||
| Q4 24 | $12.4B | $10.6B | ||
| Q3 24 | $12.4B | $10.6B | ||
| Q2 24 | $12.3B | $10.3B |
总资产WMBXYL
| Q1 26 | — | $17.0B | ||
| Q4 25 | $58.6B | $17.6B | ||
| Q3 25 | $55.7B | $17.3B | ||
| Q2 25 | $56.1B | $17.2B | ||
| Q1 25 | $54.9B | $16.6B | ||
| Q4 24 | $54.5B | $16.5B | ||
| Q3 24 | $53.8B | $16.0B | ||
| Q2 24 | $52.4B | $15.8B |
负债/权益比WMBXYL
| Q1 26 | — | 0.18× | ||
| Q4 25 | 2.13× | 0.17× | ||
| Q3 25 | 2.04× | 0.18× | ||
| Q2 25 | 2.06× | 0.18× | ||
| Q1 25 | 1.93× | 0.19× | ||
| Q4 24 | 1.99× | 0.19× | ||
| Q3 24 | 2.00× | — | ||
| Q2 24 | 1.96× | — |
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 | $1.6B | — |
| 自由现金流经营现金流 - 资本支出 | $-379.0M | — |
| 自由现金流率自由现金流/营收 | -9.9% | — |
| 资本支出强度资本支出/营收 | 50.9% | 4.2% |
| 现金转化率经营现金流/净利润 | 2.15× | — |
| 过去12个月自由现金流最近4个季度 | $1.0B | — |
8季度趋势，按日历期对齐
经营现金流WMBXYL
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $543.0M | ||
| Q3 25 | $1.4B | $360.0M | ||
| Q2 25 | $1.4B | $305.0M | ||
| Q1 25 | $1.4B | $33.0M | ||
| Q4 24 | $1.2B | $575.0M | ||
| Q3 24 | $1.2B | $311.0M | ||
| Q2 24 | $1.3B | $288.0M |
自由现金流WMBXYL
| Q1 26 | — | — | ||
| Q4 25 | $-379.0M | $460.0M | ||
| Q3 25 | $485.0M | $281.0M | ||
| Q2 25 | $478.0M | $207.0M | ||
| Q1 25 | $421.0M | $-38.0M | ||
| Q4 24 | $450.0M | $475.0M | ||
| Q3 24 | $561.0M | $237.0M | ||
| Q2 24 | $700.0M | $215.0M |
自由现金流率WMBXYL
| Q1 26 | — | — | ||
| Q4 25 | -9.9% | 19.2% | ||
| Q3 25 | 13.9% | 12.4% | ||
| Q2 25 | 14.2% | 9.0% | ||
| Q1 25 | 10.1% | -1.8% | ||
| Q4 24 | 13.2% | 21.1% | ||
| Q3 24 | 18.5% | 11.3% | ||
| Q2 24 | 24.6% | 9.9% |
资本支出强度WMBXYL
| Q1 26 | — | 4.2% | ||
| Q4 25 | 50.9% | 3.5% | ||
| Q3 25 | 27.3% | 3.5% | ||
| Q2 25 | 28.8% | 4.3% | ||
| Q1 25 | 24.2% | 3.4% | ||
| Q4 24 | 22.5% | 4.4% | ||
| Q3 24 | 22.5% | 3.5% | ||
| Q2 24 | 20.3% | 3.4% |
现金转化率WMBXYL
| Q1 26 | — | — | ||
| Q4 25 | 2.15× | 1.62× | ||
| Q3 25 | 2.22× | 1.59× | ||
| Q2 25 | 2.66× | 1.35× | ||
| Q1 25 | 2.07× | 0.20× | ||
| Q4 24 | 2.51× | 1.76× | ||
| Q3 24 | 1.76× | 1.43× | ||
| Q2 24 | 3.19× | 1.48× |
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
WMB
| Services | $2.2B | 57% |
| Natural Gas Us Regulated | $740.0M | 19% |
| West | $730.0M | 19% |
| Non Regulated Service Commodity Consideration | $51.0M | 1% |
| Natural Gas Gathering Transportation Marketing And Processing | $45.0M | 1% |
| Affiliated Entity | $23.0M | 1% |
| Other | $14.0M | 0% |
| Other Service | $11.0M | 0% |
XYL
| Revenue from products | $1.8B | 83% |
| Revenue from services | $368.0M | 17% |
