财务数据
金额单位：亿美元；每股数据：美元；股数：亿股。* 为推导值（如第四季度 = 全年 − 前三季度；半年报公司的下半年 = 全年 − 上半年），悬停任一数字可查看来源（XBRL 标签 / PDF 页码 / 计算公式）。
年度营收（亿美元）
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 营业收入 | 276.4 | 406.5 | 558.4 | 707.0 | 859.6 | 1,179 | 1,166 | 1,349 | 1,645 | 2,010 |
年度利润（亿美元）
营业利润净利润
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 营业利润 | 124.3 | 202.0 | 249.1 | 239.9 | 326.7 | 467.5 | 289.4 | 467.5 | 693.8 | 832.8 |
| 净利润 | 102.2 | 159.3 | 221.1 | 184.8 | 291.5 | 393.7 | 232.0 | 391.0 | 623.6 | 604.6 |
市盈率对比：表观 vs 实际（倍，按当前市值折算）
表观市盈率（账面口径）实际市盈率（主业口径）
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| FY22 | FY23 | FY24 | FY25 | TTM | |
|---|---|---|---|---|---|
| 表观市盈率（账面口径） | 67.7x | 40.2x | 25.2x | 26.0x | 20.9x |
| 实际市盈率（主业口径） | 67.4x | 40.8x | 25.7x | 26.8x | 20.7x |
最新滚动 12 个月（FY2025Q4–FY2026Q3）：总市值 15,715.3 亿美元；账面净利润 752.5 亿美元 → 表观市盈率 20.9x；加回税后非主业净支出 4.9 亿美元（投资/股权及利息等营业外收支税前 -5.2 亿，有效税率 4.6%）后，实际主业盈利 757.4 亿美元 → 实际市盈率 20.7x（非主业收支影响很小，两种口径基本一致）。
年度账面盈利 vs 实际主业盈利（亿美元，含 TTM）
账面净利润实际主业盈利
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 账面净利润 | 102.2 | 159.3 | 221.1 | 184.8 | 291.5 | 393.7 | 232.0 | 391.0 | 623.6 | 604.6 | 752.5 |
| 实际主业盈利 | 101.4 | 156.3 | 217.2 | 178.7 | 287.0 | 389.3 | 233.0 | 385.4 | 612.3 | 585.9 | 757.4 |
年度利润率
毛利率营业利润率税后营业利润率净利率
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 毛利率 | 86.3% | 86.6% | 83.2% | 81.9% | 80.6% | 80.8% | 78.3% | 80.8% | 81.7% | 82.0% |
| 营业利润率 | 45.0% | 49.7% | 44.6% | 33.9% | 38.0% | 39.6% | 24.8% | 34.7% | 42.2% | 41.4% |
| 税后营业利润率 | 36.7% | 38.5% | 38.9% | 25.3% | 33.4% | 33.0% | 20.0% | 28.6% | 37.2% | 29.2% |
| 净利率 | 37.0% | 39.2% | 39.6% | 26.1% | 33.9% | 33.4% | 19.9% | 29.0% | 37.9% | 30.1% |
资本开支与自由现金流（亿美元）
资本开支自由现金流
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 资本开支 | 44.9 | 67.3 | 139.2 | 151.0 | 151.6 | 186.9 | 311.9 | 270.4 | 372.6 | 696.9 |
| 自由现金流 | 116.2 | 174.8 | 153.6 | 212.1 | 235.8 | 389.9 | 192.9 | 440.7 | 540.7 | 461.1 |
年度ROE 与 ROIC
ROEROIC三年增量 ROIC
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.8% | 23.9% | 27.9% | 20.0% | 25.4% | 31.1% | 18.5% | 28.0% | 37.1% | 30.2% |
| ROIC | 20.2% | 23.6% | 29.3% | 21.8% | 25.9% | 36.0% | 19.3% | 29.7% | 36.5% | 24.4% |
| 三年增量 ROIC | 22.6% | 36.7% | 51.8% | 24.4% | 29.4% | 50.4% | 13.9% | 37.6% | 29.6% |
FY2025 ROIC 24.4% = 税后营业利润（NOPAT）585.9 亿美元 ÷ 投入资本 2,401.1 亿美元（杜邦拆解：税后营业利润率 29.2% × 投入资本周转率 0.84x）；三年增量 ROIC 29.6%。
年度税后营业利润（NOPAT）与投入资本（亿美元）
税后营业利润（NOPAT）投入资本
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| FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 税后营业利润（NOPAT） | 101.4 | 156.3 | 217.2 | 178.7 | 287.0 | 389.3 | 233.0 | 385.4 | 612.3 | 585.9 |
| 投入资本 | 502.9 | 662.7 | 741.1 | 819.8 | 1,107 | 1,083 | 1,210 | 1,297 | 1,676 | 2,401 |
| 科目 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 利润表 | ||||||||||
| 营业收入IS_REVENUE | 276.4 | 406.5 | 558.4 | 707.0 | 859.6 | 1,179.3 | 1,166.1 | 1,349.0 | 1,645.0 | 2,009.7 |
| 营业成本IS_COGS | 37.9 | 54.5 | 93.6 | 127.7 | 166.9 | 226.5 | 252.5 | 259.6 | 301.6 | 361.8 |
| 毛利IS_GROSS_PROFIT | 238.5 | 352.0 | 464.8 | 579.3 | 692.7 | 952.8 | 913.6 | 1,089.4 | 1,343.4 | 1,647.9 |
| 研发费用IS_RND | 59.2 | 77.5 | 102.7 | 136.0 | 184.5 | 246.6 | 353.4 | 384.8 | 438.7 | 573.7 |
| 营业利润IS_OPERATING_PROFIT | 124.3 | 202.0 | 249.1 | 239.9 | 326.7 | 467.5 | 289.4 | 467.5 | 693.8 | 832.8 |
| 营业外收支净额IS_NONOPERATING | 0.9 | 3.9 | 4.5 | 8.3 | 5.1 | 5.3 | -1.2 | 6.8 | 12.8 | 26.6 |
| 税前利润IS_PRETAX_PROFIT | 125.2 | 205.9 | 253.6 | 248.1 | 331.8 | 472.8 | 288.2 | 474.3 | 706.6 | 859.3 |
| 所得税IS_TAX | 23.0 | 46.6 | 32.5 | 63.3 | 40.3 | 79.1 | 56.2 | 83.3 | 83.0 | 254.7 |
| 净利润IS_NET_PROFIT | 102.2 | 159.3 | 221.1 | 184.8 | 291.5 | 393.7 | 232.0 | 391.0 | 623.6 | 604.6 |
| 基本每股收益IS_EPS_BASIC | 3.56 | 5.49 | 7.65 | 6.48 | 10.22 | 13.99 | 8.63 | 15.19 | 24.61 | 23.98 |
| 摊薄每股收益IS_EPS_DILUTED | 3.49 | 5.39 | 7.57 | 6.43 | 10.09 | 13.77 | 8.59 | 14.87 | 23.86 | 23.49 |
| 基本加权股数IS_SHARES_BASIC | 28.63 | 29.01 | 28.90 | 28.54 | 28.51 | 28.15 | 26.87 | 25.74 | 25.34 | 25.21 |
| 摊薄加权股数IS_SHARES_DILUTED | 29.25 | 29.56 | 29.21 | 28.76 | 28.88 | 28.59 | 27.02 | 26.29 | 26.14 | 25.74 |
| 每股宣派股息IS_DPS_DECLARED | 2.00 | 2.10 | ||||||||
| 资产负债表 | ||||||||||
| 总资产BS_TOTAL_ASSETS | 649.6 | 845.2 | 973.3 | 1,333.8 | 1,593.2 | 1,659.9 | 1,857.3 | 2,296.2 | 2,760.5 | 3,660.2 |
| 流动资产BS_CURRENT_ASSETS | 344.0 | 485.6 | 504.8 | 662.2 | 756.7 | 666.7 | 595.5 | 853.6 | 1,000.4 | 1,087.2 |
| 现金及等价物BS_CASH | 89.0 | 80.8 | 100.2 | 190.8 | 175.8 | 166.0 | 146.8 | 418.6 | 438.9 | 358.7 |
| 短期投资（有价证券/定期存款）BS_ST_INVESTMENTS | 205.5 | 336.3 | 311.0 | 357.8 | 443.8 | 314.0 | 260.6 | 235.4 | 339.3 | 457.2 |
| 应收账款BS_AR | 39.9 | 58.3 | 75.9 | 95.2 | 113.4 | 140.4 | 134.7 | 161.7 | 169.9 | 197.7 |
| 固定资产净值BS_PPE_NET | 85.9 | 137.2 | 246.8 | 353.2 | 456.3 | 578.1 | 795.2 | 965.9 | 1,213.5 | 1,764.0 |
| 长期股权及金融资产投资BS_EQUITY_INVESTMENTS | 0.9 | 62.3 | 67.8 | 62.3 | 61.4 | 73.0 | 335.2 | |||
| 总负债BS_TOTAL_LIABILITIES | 57.7 | 101.8 | 132.1 | 323.2 | 310.3 | 411.1 | 600.1 | 764.6 | 934.2 | 1,487.8 |
| 流动负债BS_CURRENT_LIABILITIES | 28.8 | 37.6 | 70.2 | 150.5 | 149.8 | 211.4 | 270.3 | 319.6 | 336.0 | 418.4 |
| 一年内到期借款BS_ST_DEBT | 0.0 | |||||||||
| 应付账款BS_AP | 3.0 | 3.8 | 8.2 | 13.6 | 13.3 | 88.9 | ||||
| 合同负债BS_CONTRACT_LIAB | 0.6 | 1.0 | 1.5 | 2.7 | 3.8 | 5.2 | 4.8 | 6.3 | 7.2 | |
| 长期借款BS_LT_DEBT | 0.0 | 99.2 | 183.8 | 288.3 | 587.4 | |||||
| 股东权益BS_TOTAL_EQUITY | 591.9 | 743.5 | 841.3 | 1,010.5 | 1,282.9 | 1,248.8 | 1,257.1 | 1,531.7 | 1,826.4 | 2,172.4 |
| 现金流量表 | ||||||||||
| 经营活动现金流CF_OPERATING | 161.1 | 242.2 | 292.7 | 363.1 | 387.5 | 576.8 | 504.8 | 711.1 | 913.3 | 1,158.0 |
| 折旧摊销CF_DEPRECIATION | 23.4 | 30.2 | 43.2 | 57.4 | 68.6 | 79.7 | 86.9 | 111.8 | 155.0 | 186.2 |
| 股权激励费用CF_SBC | 32.2 | 37.2 | 41.5 | 48.4 | 65.4 | 91.6 | 119.9 | 140.3 | 166.9 | 204.3 |
| 投资活动现金流CF_INVESTING | -117.9 | -201.2 | -116.0 | -198.6 | -300.6 | -75.7 | -289.7 | -245.0 | -471.5 | -1,020.0 |
| 资本开支CF_CAPEX | 44.9 | 67.3 | 139.2 | 151.0 | 151.6 | 186.9 | 311.9 | 270.4 | 372.6 | 696.9 |
| 融资租赁新增资产（非现金）CF_FINANCE_LEASE_ADDITIONS | 1.9 | 1.2 | 1.6 | 2.2 | 5.9 | 1.8 | 6.1 | |||
| 经营租赁新增使用权资产（非现金）CF_OPLEASE_ADDITIONS | 50.8 | 11.6 | 44.7 | 43.7 | 43.7 | 37.8 | 70.2 | |||
| 筹资活动现金流CF_FINANCING | -3.1 | -52.4 | -155.7 | -73.0 | -102.9 | -507.3 | -221.4 | -195.0 | -407.8 | -203.7 |
| 偿还融资租赁本金CF_FINANCE_LEASE_PRINCIPAL | 0.0 | 0.0 | 5.5 | 6.0 | 6.8 | 8.5 | 10.6 | 19.7 | 25.2 | |
| 派息CF_DIVIDEND | 0.0 | 0.0 | 50.7 | 53.2 | ||||||
| 回购CF_BUYBACK | 0.0 | 19.8 | 128.8 | 42.0 | 62.7 | 445.4 | 279.6 | 197.7 | 301.2 | 262.5 |
| 财务指标 | ||||||||||
| 毛利率GROSS_MARGIN | 86.3% | 86.6% | 83.2% | 81.9% | 80.6% | 80.8% | 78.3% | 80.8% | 81.7% | 82.0% |
| 营业利润率OPERATING_MARGIN | 45.0% | 49.7% | 44.6% | 33.9% | 38.0% | 39.6% | 24.8% | 34.7% | 42.2% | 41.4% |
| 净利率NET_MARGIN | 37.0% | 39.2% | 39.6% | 26.1% | 33.9% | 33.4% | 19.9% | 29.0% | 37.9% | 30.1% |
| 税后营业利润NOPAT | 101.4 | 156.3 | 217.2 | 178.7 | 287.0 | 389.3 | 233.0 | 385.4 | 612.3 | 585.9 |
| 税后营业利润率NOPAT_MARGIN | 36.7% | 38.5% | 38.9% | 25.3% | 33.4% | 33.0% | 20.0% | 28.6% | 37.2% | 29.2% |
| 投入资本INVESTED_CAPITAL | 502.9 | 662.7 | 741.1 | 819.8 | 1,107.1 | 1,082.8 | 1,209.6 | 1,296.9 | 1,675.7 | 2,401.1 |
| 投入资本周转率CAPITAL_TURNOVER | 0.55 | 0.61 | 0.75 | 0.86 | 0.78 | 1.09 | 0.96 | 1.04 | 0.98 | 0.84 |
| ROEROE | 19.8% | 23.9% | 27.9% | 20.0% | 25.4% | 31.1% | 18.5% | 28.0% | 37.1% | 30.2% |
| ROICROIC | 20.2% | 23.6% | 29.3% | 21.8% | 25.9% | 36.0% | 19.3% | 29.7% | 36.5% | 24.4% |
| 三年增量 ROICINCREMENTAL_ROIC_3Y | 22.6% | 36.7% | 51.8% | 24.4% | 29.4% | 50.4% | 13.9% | 37.6% | 29.6% | |
| 资产负债率DEBT_RATIO | 8.9% | 12.0% | 13.6% | 24.2% | 19.5% | 24.8% | 32.3% | 33.3% | 33.8% | 40.6% |
| 经营现金流/净利润OCF_TO_PROFIT | 157.7% | 152.0% | 132.4% | 196.5% | 132.9% | 146.5% | 217.6% | 181.9% | 146.5% | 191.5% |
| 应计比率ACCRUAL_RATIO | -9.1% | -9.8% | -7.4% | -13.4% | -6.0% | -11.0% | -14.7% | -13.9% | -10.5% | -15.1% |
| 营业外收支/税前利润NONOP_TO_PRETAX | 0.7% | 1.9% | 1.8% | 3.3% | 1.5% | 1.1% | -0.4% | 1.4% | 1.8% | 3.1% |
| 自由现金流FCF | 116.2 | 174.8 | 153.6 | 212.1 | 235.8 | 389.9 | 192.9 | 440.7 | 540.7 | 461.1 |
| 自由现金流利润率FCF_MARGIN | 42.0% | 43.0% | 27.5% | 30.0% | 27.4% | 33.1% | 16.5% | 32.7% | 32.9% | 22.9% |
| 股权激励/营收SBC_TO_REVENUE | 11.6% | 9.2% | 7.4% | 6.8% | 7.6% | 7.8% | 10.3% | 10.4% | 10.1% | 10.2% |
| 扣股权激励自由现金流FCF_AFTER_SBC | 84.0 | 137.6 | 112.1 | 163.8 | 170.5 | 298.3 | 73.0 | 300.4 | 373.8 | 256.8 |
| 扣融资租赁本金自由现金流FCF_AFTER_LEASES | 174.8 | 153.6 | 206.6 | 229.8 | 383.2 | 184.4 | 430.1 | 521.0 | 435.8 | |
| 资本开支/折旧摊销CAPEX_TO_DA | 1.92 | 2.23 | 3.22 | 2.63 | 2.21 | 2.35 | 3.59 | 2.42 | 2.40 | 3.74 |
| 资本开支（含融资租赁）CAPEX_INCL_LEASES | 153.0 | 152.8 | 188.5 | 314.1 | 276.3 | 374.4 | 703.0 | |||
| 资本开支（含融资租赁）/折旧摊销CAPEX_INCL_LEASES_TO_DA | 2.66 | 2.23 | 2.37 | 3.62 | 2.47 | 2.42 | 3.78 | |||
| 固定资产周转率PPE_TURNOVER | 3.22 | 2.96 | 2.26 | 2.00 | 1.88 | 2.04 | 1.47 | 1.40 | 1.36 | 1.14 |
| 总资产周转率ASSET_TURNOVER | 0.48 | 0.54 | 0.61 | 0.61 | 0.59 | 0.72 | 0.66 | 0.65 | 0.65 | 0.63 |
| 权益乘数EQUITY_MULTIPLIER | 1.11 | 1.12 | 1.15 | 1.25 | 1.28 | 1.28 | 1.40 | 1.49 | 1.51 | 1.61 |
| 应收周转天数DSO | 52.7 | 52.4 | 49.6 | 49.1 | 48.1 | 43.5 | 42.2 | 43.7 | 37.7 | 35.9 |
| 应付周转天数DPO | 29.1 | 25.4 | 32.0 | 39.0 | 29.1 | 89.7 | ||||
| 合同负债同比CONTRACT_LIAB_YOY | 121.4% | 58.1% | 50.0% | 83.0% | 42.0% | 35.3% | -6.8% | 29.9% | 15.2% | |
| 所有者盈余OWNER_EARNINGS | 137.7 | 211.9 | 249.6 | 305.7 | 318.8 | 497.2 | 417.9 | 599.4 | 758.3 | 971.8 |
| 股东回报（派息+回购）SHAREHOLDER_RETURN | 0.0 | 19.8 | 128.8 | 42.0 | 62.7 | 445.4 | 279.6 | 197.7 | 352.0 | 315.7 |
| 股东回报/自由现金流SHAREHOLDER_RETURN_TO_FCF | 0.0% | 11.3% | 83.9% | 19.8% | 26.6% | 114.2% | 144.9% | 44.9% | 65.1% | 68.5% |
| 派息率PAYOUT_RATIO | 0.0% | 0.0% | 8.1% | 8.8% | ||||||
| 稀释率DILUTION_RATE | 2.2% | 1.9% | 1.1% | 0.8% | 1.3% | 1.6% | 0.6% | 2.1% | 3.2% | 2.1% |
| 摊薄股数同比SHARES_DILUTED_CHANGE | 2.5% | 1.1% | -1.2% | -1.5% | 0.4% | -1.0% | -5.5% | -2.7% | -0.6% | -1.5% |
| 摊薄 EPS 同比EPS_DILUTED_GROWTH | 170.5% | 54.4% | 40.4% | -15.1% | 56.9% | 36.5% | -37.6% | 73.1% | 60.5% | -1.6% |
勾稽校验（所示期间）：10 项， 全部通过
季度营收（亿美元）
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 营业收入 | 401.1 | 364.6 | 390.7 | 405.9 | 483.9 | 423.1 | 475.2 | 512.4 | 598.9 | 563.1 | 608.0 | 646.0 |
季度利润（亿美元）
营业利润净利润
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 营业利润 | 163.8 | 138.2 | 148.5 | 173.5 | 233.7 | 175.6 | 204.4 | 205.3 | 247.4 | 228.7 | 187.8 | 129.9 |
| 净利润 | 140.2 | 123.7 | 134.7 | 156.9 | 208.4 | 166.4 | 183.4 | 27.1 | 227.7 | 267.7 | 158.5 | 98.6 |
滚动 TTM 市盈率对比：表观 vs 实际（倍，按当前市值折算）
表观市盈率（TTM）实际市盈率（TTM）
查看数据表
| 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|
| 表观市盈率（TTM） | 25.2x | 23.6x | 22.0x | 26.9x | 26.0x | 22.3x | 23.1x | 20.9x |
| 实际市盈率（TTM） | 25.7x | 24.1x | 22.4x | 27.6x | 26.8x | 22.4x | 23.2x | 20.7x |
季度账面盈利 vs 实际主业盈利（亿美元）
账面净利润实际主业盈利
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 账面净利润 | 140.2 | 123.7 | 134.7 | 156.9 | 208.4 | 166.4 | 183.4 | 27.1 | 227.7 | 267.7 | 158.5 | 98.6 |
| 实际主业盈利 | 136.6 | 120.5 | 132.3 | 152.7 | 206.7 | 159.0 | 182.5 | 25.7 | 222.2 | 228.7 | 158.6 | 98.5 |
季度利润率
毛利率营业利润率税后营业利润率净利率
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 毛利率 | 80.8% | 81.8% | 81.3% | 81.8% | 81.7% | 82.1% | 82.1% | 82.0% | 81.8% | 81.9% | 81.4% | 79.3% |
| 营业利润率 | 40.8% | 37.9% | 38.0% | 42.7% | 48.3% | 41.5% | 43.0% | 40.1% | 41.3% | 40.6% | 30.9% | 20.1% |
| 税后营业利润率 | 34.1% | 33.1% | 33.9% | 37.6% | 42.7% | 37.6% | 38.4% | 5.0% | 37.1% | 26.1% | 15.2% | |
| 净利率 | 34.9% | 33.9% | 34.5% | 38.7% | 43.1% | 39.3% | 38.6% | 5.3% | 38.0% | 47.5% | 26.1% | 15.3% |
资本开支与自由现金流（亿美元）
资本开支自由现金流
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 资本开支 | 75.9 | 64.0 | 81.7 | 82.6 | 144.2 | 129.4 | 165.4 | 188.3 | 213.8 | 190.0 | 301.2 | 339.4 |
| 自由现金流 | 118.1 | 128.5 | 112.0 | 164.7 | 135.6 | 110.8 | 90.2 | 111.7 | 148.3 | 132.3 | 17.5 | -11.6 |
季度ROE 与 ROIC
ROEROIC
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.2% | 8.3% | 8.6% | 9.5% | 11.4% | 9.0% | 9.4% | 1.4% | 10.5% | 11.0% | 6.1% | 3.6% |
| ROIC | 10.5% | 8.9% | 9.2% | 10.2% | 12.3% | 8.6% | 8.6% | 1.2% | 9.3% | 10.1% | 4.8% | 2.9% |
FY2026Q3 ROIC 2.9% = 税后营业利润（NOPAT）98.5 亿美元 ÷ 投入资本 3,420.9 亿美元（杜邦拆解：税后营业利润率 15.2% × 投入资本周转率 0.76x）。
季度税后营业利润（NOPAT）与投入资本（亿美元）
税后营业利润（NOPAT）投入资本
查看数据表
| 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 税后营业利润（NOPAT） | 136.6 | 120.5 | 132.3 | 152.7 | 206.7 | 159.0 | 182.5 | 25.7 | 222.2 | 281.5 | 158.6 | 98.5 |
| 投入资本 | 1,297 | 1,356 | 1,431 | 1,495 | 1,676 | 1,851 | 2,119 | 2,127 | 2,401 | 2,790 | 3,294 | 3,421 |
| 科目 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 利润表 | ||||||||||||
| 营业收入IS_REVENUE | 401.1 | 364.6 | 390.7 | 405.9 | 483.9 | 423.1 | 475.2 | 512.4 | 598.9 | 563.1 | 608.0 | 646.0 |
| 营业成本IS_COGS | 77.0 | 66.4 | 73.1 | 73.8 | 88.4 | 75.7 | 84.9 | 92.1 | 109.1 | 102.2 | 113.3 | 133.7 |
| 毛利IS_GROSS_PROFIT | 324.2 | 298.2 | 317.6 | 332.1 | 395.5 | 347.4 | 390.2 | 420.4 | 489.9 | 460.9 | 494.7 | 512.3 |
| 研发费用IS_RND | 105.2 | 99.8 | 105.4 | 111.8 | 121.8 | 121.5 | 129.4 | 151.4 | 171.4 | 177.0 | 216.6 | 200.5 |
| 营业利润IS_OPERATING_PROFIT | 163.8 | 138.2 | 148.5 | 173.5 | 233.6 | 175.6 | 204.4 | 205.4 | 247.4 | 228.7 | 187.8 | 129.9 |
| 营业外收支净额IS_NONOPERATING | 4.2 | 3.6 | 2.6 | 4.7 | 1.9 | 8.3 | 0.9 | 11.3 | 6.1 | -11.2 | -0.2 | 0.1 |
| 税前利润IS_PRETAX_PROFIT | 168.1 | 141.8 | 151.1 | 178.2 | 235.5 | 183.8 | 205.3 | 216.6 | 253.5 | 217.5 | 187.6 | 130.0 |
| 所得税IS_TAX | 27.9 | 18.1 | 16.4 | 21.3 | 27.1 | 17.4 | 22.0 | 189.5 | 25.8 | -50.2 | 29.1 | 31.4 |
| 净利润IS_NET_PROFIT | 140.2 | 123.7 | 134.6 | 156.9 | 208.4 | 166.4 | 183.4 | 27.1 | 227.7 | 267.7 | 158.5 | 98.6 |
| 基本每股收益IS_EPS_BASIC | 4.86 | 5.31 | 6.20 | 6.59 | 7.28 | 1.08 | 10.57 | 6.23 | 3.86 | |||
| 摊薄每股收益IS_EPS_DILUTED | 4.71 | 5.16 | 6.03 | 6.43 | 7.14 | 1.05 | 10.44 | 6.18 | 3.83 | |||
| 基本加权股数IS_SHARES_BASIC | 25.45 | 25.34 | 25.29 | 25.27 | 25.18 | 25.17 | 25.34 | 25.43 | 25.52 | |||
| 摊薄加权股数IS_SHARES_DILUTED | 26.25 | 26.10 | 26.00 | 25.90 | 25.70 | 25.72 | 25.64 | 25.66 | 25.73 | |||
| 每股宣派股息IS_DPS_DECLARED | 0.50 | 0.50 | 0.50 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | |||
| 资产负债表 | ||||||||||||
| 总资产BS_TOTAL_ASSETS | 2,296.2 | 2,228.4 | 2,302.4 | 2,564.1 | 2,760.5 | 2,802.1 | 2,947.4 | 3,038.4 | 3,660.2 | 3,952.5 | 4,499.6 | 4,788.4 |
| 流动资产BS_CURRENT_ASSETS | 853.6 | 753.3 | 764.3 | 910.7 | 1,000.4 | 902.3 | 736.1 | 731.2 | 1,087.2 | 1,097.6 | 1,254.8 | 1,199.0 |
| 现金及等价物BS_CASH | 418.6 | 323.1 | 320.4 | 438.5 | 438.9 | 287.5 | 120.0 | 101.9 | 358.7 | 234.3 | 154.6 | 112.2 |
| 短期投资（有价证券/定期存款）BS_ST_INVESTMENTS | 235.4 | 258.1 | 260.4 | 270.5 | 339.3 | 414.8 | 350.7 | 342.6 | 457.2 | 577.5 | 748.0 | 712.3 |
| 应收账款BS_AR | 161.7 | 134.3 | 145.0 | 147.0 | 169.9 | 145.1 | 165.6 | 173.0 | 197.7 | 174.7 | 217.5 | 227.2 |
| 固定资产净值BS_PPE_NET | 965.9 | 989.1 | 1,029.6 | 1,121.6 | 1,213.5 | 1,335.7 | 1,470.4 | 1,602.7 | 1,764.0 | 1,947.8 | 2,257.2 | 2,532.2 |
| 长期股权及金融资产投资BS_EQUITY_INVESTMENTS | 61.4 | 62.2 | 62.1 | 60.7 | 73.0 | 92.5 | 268.5 | 312.0 | 335.2 | 327.3 | 337.0 | 357.5 |
| 总负债BS_TOTAL_LIABILITIES | 764.6 | 733.2 | 734.8 | 918.8 | 934.2 | 951.8 | 996.7 | 1,097.8 | 1,487.8 | 1,515.7 | 1,887.4 | 2,064.5 |
| 流动负债BS_CURRENT_LIABILITIES | 319.6 | 281.0 | 270.0 | 333.3 | 336.0 | 338.9 | 373.0 | 369.6 | 418.4 | 467.5 | 563.8 | 630.1 |
| 一年内到期借款BS_ST_DEBT | 0.0 | 27.5 | ||||||||||
| 应付账款BS_AP | 88.9 | 158.9 | 191.0 | |||||||||
| 合同负债BS_CONTRACT_LIAB | 6.3 | 6.0 | 6.4 | 7.0 | 7.2 | |||||||
| 长期借款BS_LT_DEBT | 183.8 | 183.9 | 183.9 | 288.2 | 288.3 | 288.3 | 288.3 | 288.3 | 587.4 | 587.5 | 836.6 | 809.2 |
| 股东权益BS_TOTAL_EQUITY | 1,531.7 | 1,495.3 | 1,567.6 | 1,645.3 | 1,826.4 | 1,850.3 | 1,950.7 | 1,940.7 | 2,172.4 | 2,436.8 | 2,612.2 | 2,723.9 |
| 现金流量表 | ||||||||||||
| 经营活动现金流CF_OPERATING | 194.0 | 192.5 | 193.7 | 247.2 | 279.9 | 240.3 | 255.6 | 300.0 | 362.1 | 322.3 | 318.6 | 327.8 |
| 折旧摊销CF_DEPRECIATION | 31.7 | 33.7 | 35.8 | 39.6 | 44.6 | 39.0 | 42.8 | 47.6 | 54.1 | 60.0 | 60.0 | 68.1 |
| 股权激励费用CF_SBC | 34.2 | 35.6 | 46.2 | 42.5 | 42.6 | 41.5 | 48.3 | 55.6 | 58.9 | 60.3 | 76.6 | 73.6 |
| 投资活动现金流CF_INVESTING | -64.7 | -87.3 | -83.0 | -86.2 | -215.0 | -200.1 | -259.6 | -218.5 | -341.9 | -336.8 | -496.5 | -309.8 |
| 资本开支CF_CAPEX | 75.9 | 64.0 | 81.7 | 82.6 | 144.2 | 129.4 | 165.4 | 188.3 | 213.8 | 190.0 | 301.2 | 339.4 |
| 融资租赁新增资产（非现金）CF_FINANCE_LEASE_ADDITIONS | 1.3 | |||||||||||
| 经营租赁新增使用权资产（非现金）CF_OPLEASE_ADDITIONS | 13.3 | 9.1 | 8.9 | 11.0 | 8.8 | |||||||
| 筹资活动现金流CF_FINANCING | -84.0 | -197.7 | -111.8 | -43.7 | -54.6 | -195.0 | -159.8 | -100.5 | 251.5 | -65.5 | 159.7 | -67.3 |
| 偿还融资租赁本金CF_FINANCE_LEASE_PRINCIPAL | 3.1 | 3.2 | 3.0 | 9.4 | 4.1 | 7.5 | 4.7 | 5.4 | 7.5 | 8.4 | 9.6 | 9.6 |
| 派息CF_DIVIDEND | 0.0 | 12.7 | 12.7 | 12.6 | 12.7 | 13.3 | 13.3 | 13.3 | 13.3 | 13.5 | 13.5 | 13.6 |
| 回购CF_BUYBACK | 59.4 | 150.1 | 63.0 | 88.2 | 0.0 | 127.5 | 101.7 | 33.3 | 0.0 | 0.0 | 0.0 | 0.0 |
| 财务指标 | ||||||||||||
| 毛利率GROSS_MARGIN | 80.8% | 81.8% | 81.3% | 81.8% | 81.7% | 82.1% | 82.1% | 82.0% | 81.8% | 81.9% | 81.4% | 79.3% |
| 营业利润率OPERATING_MARGIN | 40.8% | 37.9% | 38.0% | 42.7% | 48.3% | 41.5% | 43.0% | 40.1% | 41.3% | 40.6% | 30.9% | 20.1% |
| 净利率NET_MARGIN | 34.9% | 33.9% | 34.5% | 38.7% | 43.1% | 39.3% | 38.6% | 5.3% | 38.0% | 47.5% | 26.1% | 15.3% |
| 税后营业利润NOPAT | 136.6 | 120.5 | 132.3 | 152.7 | 206.7 | 159.0 | 182.5 | 25.7 | 222.2 | 281.5 | 158.6 | 98.5 |
| 税后营业利润率NOPAT_MARGIN | 34.1% | 33.1% | 33.9% | 37.6% | 42.7% | 37.6% | 38.4% | 5.0% | 37.1% | 26.1% | 15.2% | |
| 投入资本INVESTED_CAPITAL | 1,296.9 | 1,356.1 | 1,431.1 | 1,495.0 | 1,675.7 | 1,851.1 | 2,119.0 | 2,127.1 | 2,401.1 | 2,790.0 | 3,294.2 | 3,420.9 |
| 投入资本周转率CAPITAL_TURNOVER | 1.24 | 1.08 | 1.09 | 1.09 | 1.16 | 0.91 | 0.90 | 0.96 | 1.00 | 0.81 | 0.74 | 0.76 |
| ROEROE | 9.2% | 8.3% | 8.6% | 9.5% | 11.4% | 9.0% | 9.4% | 1.4% | 10.5% | 11.0% | 6.1% | 3.6% |
| ROICROIC | 10.5% | 8.9% | 9.2% | 10.2% | 12.3% | 8.6% | 8.6% | 1.2% | 9.3% | 10.1% | 4.8% | 2.9% |
| 资产负债率DEBT_RATIO | 33.3% | 32.9% | 31.9% | 35.8% | 33.8% | 34.0% | 33.8% | 36.1% | 40.6% | 38.3% | 41.9% | 43.1% |
| 经营现金流/净利润OCF_TO_PROFIT | 138.4% | 155.6% | 143.9% | 157.6% | 134.3% | 144.4% | 139.4% | 1107.4% | 159.1% | 120.4% | 201.0% | 332.5% |
| 应计比率ACCRUAL_RATIO | -2.3% | -3.1% | -2.6% | -3.5% | -2.6% | -2.6% | -2.5% | -9.0% | -3.7% | -1.4% | -3.6% | -4.8% |
| 营业外收支/税前利润NONOP_TO_PRETAX | 2.5% | 2.6% | 1.7% | 2.6% | 0.8% | 4.5% | 0.5% | 5.2% | 2.4% | -5.1% | -0.1% | 0.1% |
| 自由现金流FCF | 118.1 | 128.5 | 112.0 | 164.7 | 135.6 | 110.8 | 90.2 | 111.7 | 148.3 | 132.3 | 17.5 | -11.6 |
| 自由现金流利润率FCF_MARGIN | 29.4% | 35.2% | 28.7% | 40.6% | 28.0% | 26.2% | 19.0% | 21.8% | 24.8% | 23.5% | 2.9% | -1.8% |
| 股权激励/营收SBC_TO_REVENUE | 8.5% | 9.8% | 11.8% | 10.5% | 8.8% | 9.8% | 10.2% | 10.8% | 9.8% | 10.7% | 12.6% | 11.4% |
| 扣股权激励自由现金流FCF_AFTER_SBC | 83.9 | 92.8 | 65.8 | 122.2 | 93.0 | 69.4 | 41.9 | 56.1 | 89.4 | 72.0 | -59.1 | -85.2 |
| 扣融资租赁本金自由现金流FCF_AFTER_LEASES | 115.0 | 125.3 | 109.0 | 155.2 | 131.5 | 103.3 | 85.5 | 106.2 | 140.8 | 123.9 | 7.8 | -21.2 |
| 资本开支/折旧摊销CAPEX_TO_DA | 2.39 | 1.90 | 2.28 | 2.09 | 3.23 | 3.32 | 3.86 | 3.96 | 3.95 | 3.17 | 5.02 | 4.98 |
| 资本开支（含融资租赁）CAPEX_INCL_LEASES | 77.2 | |||||||||||
| 资本开支（含融资租赁）/折旧摊销CAPEX_INCL_LEASES_TO_DA | 2.43 | |||||||||||
| 固定资产周转率PPE_TURNOVER | 1.66 | 1.47 | 1.52 | 1.45 | 1.60 | 1.27 | 1.29 | 1.28 | 1.36 | 1.16 | 1.08 | 1.02 |
| 应收周转天数DSO | 36.8 | 33.6 | 33.9 | 33.0 | 32.0 | 31.3 | 31.8 | 30.8 | 30.1 | 28.3 | 32.6 | 32.1 |
| 应付周转天数DPO | 74.4 | 128.0 | 130.3 | |||||||||
| 合同负债同比CONTRACT_LIAB_YOY | 29.9% | 30.2% | 28.9% | 38.3% | 15.2% | |||||||
| 股东回报（派息+回购）SHAREHOLDER_RETURN | 59.4 | 162.8 | 75.6 | 100.8 | 12.7 | 140.8 | 114.9 | 46.6 | 13.3 | 13.5 | 13.5 | 13.6 |
| 股东回报/自由现金流SHAREHOLDER_RETURN_TO_FCF | 50.3% | 126.7% | 67.6% | 61.2% | 9.3% | 127.0% | 127.4% | 41.7% | 9.0% | 10.2% | 77.5% | |
| 派息率PAYOUT_RATIO | 0.0% | 10.3% | 9.4% | 8.1% | 6.1% | 8.0% | 7.2% | 49.1% | 5.8% | 5.0% | 8.5% | 13.8% |
| 稀释率DILUTION_RATE | 3.1% | 3.0% | 2.8% | 2.5% | 2.1% | 2.2% | 1.2% | 0.9% | 0.8% | |||
勾稽校验（所示期间）：12 项， 全部通过