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美国铝业公司（AA）与Core Natural Resources, Inc.（CNR）财务数据对比。点击上方公司名可切换其他公司
美国铝业公司的季度营收约是Core Natural Resources, Inc.的3.3倍（$3.4B vs $1.0B），美国铝业公司净利率更高（6.2% vs -7.6%，领先13.8%），Core Natural Resources, Inc.同比增速更快（81.8% vs -1.1%），美国铝业公司自由现金流更多（$294.0M vs $26.0M），过去两年Core Natural Resources, Inc.的营收复合增速更高（38.1% vs 15.2%）
美国铝业公司是美国大型工业企业，为全球规模领先的铝生产商之一，业务布局覆盖10个国家，涵盖铝土矿开采、氧化铝精炼、原铝冶炼、铝制品加工及铝回收利用全产业链，产品广泛应用于全球各工业领域。
Arch Resources（原阿奇煤炭）曾是美国煤炭开采加工企业，为美国第二大煤炭供应商，仅次于皮博迪能源，2011年占据美国国内15%的市场份额，主营低硫烟煤、次烟煤的开采、加工与销售，客户以发电企业为主。
AA vs CNR — 直观对比
营收规模更大
AA
是对方的3.3倍
$1.0B
营收增速更快
CNR
高出82.8%
-1.1%
净利率更高
AA
高出13.8%
-7.6%
自由现金流更多
AA
多$268.0M
$26.0M
两年增速更快
CNR
近两年复合增速
15.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $1.0B |
| 净利润 | $213.0M | $-79.0M |
| 毛利率 | — | — |
| 营业利润率 | 2.0% | -9.3% |
| 净利率 | 6.2% | -7.6% |
| 营收同比 | -1.1% | 81.8% |
| 净利润同比 | 5.4% | -356.3% |
| 每股收益（稀释后） | $0.80 | $-1.51 |
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AACNR
| Q4 25 | $3.4B | $1.0B | ||
| Q3 25 | $3.0B | $1.0B | ||
| Q2 25 | $3.0B | $1.1B | ||
| Q1 25 | $3.4B | $1.0B | ||
| Q4 24 | $3.5B | $573.6M | ||
| Q3 24 | $2.9B | $553.4M | ||
| Q2 24 | $2.9B | $490.7M | ||
| Q1 24 | $2.6B | $546.7M |
净利润AACNR
| Q4 25 | $213.0M | $-79.0M | ||
| Q3 25 | $232.0M | $31.6M | ||
| Q2 25 | $164.0M | $-36.6M | ||
| Q1 25 | $548.0M | $-69.3M | ||
| Q4 24 | $202.0M | $30.8M | ||
| Q3 24 | $90.0M | $95.6M | ||
| Q2 24 | $20.0M | $58.1M | ||
| Q1 24 | $-252.0M | $101.9M |
营业利润率AACNR
| Q4 25 | 2.0% | -9.3% | ||
| Q3 25 | 5.6% | -1.2% | ||
| Q2 25 | 5.3% | -1.7% | ||
| Q1 25 | 19.8% | -5.3% | ||
| Q4 24 | 9.7% | 6.6% | ||
| Q3 24 | 6.3% | 21.2% | ||
| Q2 24 | 3.2% | 14.6% | ||
| Q1 24 | -12.5% | 22.7% |
净利率AACNR
| Q4 25 | 6.2% | -7.6% | ||
| Q3 25 | 7.7% | 3.2% | ||
| Q2 25 | 5.4% | -3.3% | ||
| Q1 25 | 16.3% | -6.8% | ||
| Q4 24 | 5.8% | 5.4% | ||
| Q3 24 | 3.1% | 17.3% | ||
| Q2 24 | 0.7% | 11.8% | ||
| Q1 24 | -9.7% | 18.6% |
每股收益（稀释后）AACNR
| Q4 25 | $0.80 | $-1.51 | ||
| Q3 25 | $0.88 | $0.61 | ||
| Q2 25 | $0.62 | $-0.70 | ||
| Q1 25 | $2.07 | $-1.38 | ||
| Q4 24 | $1.18 | $1.04 | ||
| Q3 24 | $0.38 | $3.22 | ||
| Q2 24 | $0.11 | $1.96 | ||
| Q1 24 | $-1.41 | $3.39 |
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 | $1.6B | $432.2M |
| 总债务越低越好 | $2.4B | $354.2M |
| 股东权益账面价值 | $6.1B | $3.7B |
| 总资产 | $16.1B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.40× | 0.10× |
8季度趋势，按日历期对齐
现金及短期投资AACNR
| Q4 25 | $1.6B | $432.2M | ||
| Q3 25 | $1.5B | $444.7M | ||
| Q2 25 | $1.5B | $413.2M | ||
| Q1 25 | $1.2B | $388.5M | ||
| Q4 24 | $1.1B | $460.2M | ||
| Q3 24 | $1.3B | $331.7M | ||
| Q2 24 | $1.4B | $216.1M | ||
| Q1 24 | $1.4B | $172.6M |
总债务AACNR
| Q4 25 | $2.4B | $354.2M | ||
| Q3 25 | $2.6B | $334.5M | ||
| Q2 25 | $2.6B | $334.0M | ||
| Q1 25 | $2.6B | $329.8M | ||
| Q4 24 | $2.5B | $94.8M | ||
| Q3 24 | $2.5B | $83.7M | ||
| Q2 24 | $2.5B | $184.9M | ||
| Q1 24 | $2.5B | $185.5M |
股东权益AACNR
| Q4 25 | $6.1B | $3.7B | ||
| Q3 25 | $6.3B | $3.8B | ||
| Q2 25 | $6.1B | $3.8B | ||
| Q1 25 | $5.8B | $3.9B | ||
| Q4 24 | $5.2B | $1.6B | ||
| Q3 24 | $5.3B | $1.5B | ||
| Q2 24 | $3.9B | $1.4B | ||
| Q1 24 | $4.0B | $1.4B |
总资产AACNR
| Q4 25 | $16.1B | $6.1B | ||
| Q3 25 | $16.0B | $6.2B | ||
| Q2 25 | $15.0B | $6.2B | ||
| Q1 25 | $14.6B | $6.3B | ||
| Q4 24 | $14.1B | $2.9B | ||
| Q3 24 | $14.5B | $2.8B | ||
| Q2 24 | $14.3B | $2.7B | ||
| Q1 24 | $14.3B | $2.7B |
负债/权益比AACNR
| Q4 25 | 0.40× | 0.10× | ||
| Q3 25 | 0.41× | 0.09× | ||
| Q2 25 | 0.42× | 0.09× | ||
| Q1 25 | 0.44× | 0.08× | ||
| Q4 24 | 0.48× | 0.06× | ||
| Q3 24 | 0.47× | 0.05× | ||
| Q2 24 | 0.63× | 0.13× | ||
| Q1 24 | 0.62× | 0.13× |
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 | $537.0M | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $294.0M | $26.0M |
| 自由现金流率自由现金流/营收 | 8.5% | 2.5% |
| 资本支出强度资本支出/营收 | 7.0% | 7.8% |
| 现金转化率经营现金流/净利润 | 2.52× | — |
| 过去12个月自由现金流最近4个季度 | $567.0M | $21.2M |
8季度趋势，按日历期对齐
经营现金流AACNR
| Q4 25 | $537.0M | $107.3M | ||
| Q3 25 | $85.0M | $87.9M | ||
| Q2 25 | $488.0M | $220.2M | ||
| Q1 25 | $75.0M | $-109.6M | ||
| Q4 24 | $415.0M | $121.3M | ||
| Q3 24 | $143.0M | $161.3M | ||
| Q2 24 | $287.0M | $116.3M | ||
| Q1 24 | $-223.0M | $77.5M |
自由现金流AACNR
| Q4 25 | $294.0M | $26.0M | ||
| Q3 25 | $-66.0M | $38.6M | ||
| Q2 25 | $357.0M | $131.0M | ||
| Q1 25 | $-18.0M | $-174.5M | ||
| Q4 24 | $246.0M | $80.5M | ||
| Q3 24 | $-3.0M | $121.9M | ||
| Q2 24 | $123.0M | $60.9M | ||
| Q1 24 | $-324.0M | $35.1M |
自由现金流率AACNR
| Q4 25 | 8.5% | 2.5% | ||
| Q3 25 | -2.2% | 3.9% | ||
| Q2 25 | 11.8% | 11.9% | ||
| Q1 25 | -0.5% | -17.1% | ||
| Q4 24 | 7.1% | 14.0% | ||
| Q3 24 | -0.1% | 22.0% | ||
| Q2 24 | 4.2% | 12.4% | ||
| Q1 24 | -12.5% | 6.4% |
资本支出强度AACNR
| Q4 25 | 7.0% | 7.8% | ||
| Q3 25 | 5.0% | 4.9% | ||
| Q2 25 | 4.3% | 8.1% | ||
| Q1 25 | 2.8% | 6.4% | ||
| Q4 24 | 4.8% | 7.1% | ||
| Q3 24 | 5.0% | 7.1% | ||
| Q2 24 | 5.6% | 11.3% | ||
| Q1 24 | 3.9% | 7.7% |
现金转化率AACNR
| Q4 25 | 2.52× | — | ||
| Q3 25 | 0.37× | 2.78× | ||
| Q2 25 | 2.98× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 2.05× | 3.94× | ||
| Q3 24 | 1.59× | 1.69× | ||
| Q2 24 | 14.35× | 2.00× | ||
| Q1 24 | — | 0.76× |
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
AA
| Aluminum | $2.5B | 72% |
| Third Party Sales | $979.0M | 28% |
CNR
| Other | $397.4M | 38% |
| Power Generation | $376.5M | 36% |
| PRB | $183.0M | 18% |
| Metallurgical | $42.0M | 4% |
| Industrial | $34.1M | 3% |
| Terminal Revenue | $6.4M | 1% |
| Other Revenue | $3.0M | 0% |
