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美国铝业公司（AA）与陶氏公司（DOW）财务数据对比。点击上方公司名可切换其他公司
陶氏公司的季度营收约是美国铝业公司的2.7倍（$9.5B vs $3.4B）。美国铝业公司同比增速更快（-1.1% vs -9.3%）。过去两年美国铝业公司的营收复合增速更高（15.2% vs -6.9%）
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。
陶氏化学是总部位于美国密歇根州米德兰的跨国化工企业，2021年位列全球前三大化工生产商，为特拉华州注册的上市控股公司陶氏公司旗下运营子公司，其产品与解决方案广泛服务于制造业、消费品、基础设施建设等全球多个核心产业领域。
AA vs DOW — 直观对比
营收规模更大
DOW
是对方的2.7倍
$3.4B
营收增速更快
AA
高出8.2%
-9.3%
两年增速更快
AA
近两年复合增速
-6.9%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $9.5B |
| 净利润 | $213.0M | — |
| 毛利率 | — | 5.8% |
| 营业利润率 | 2.0% | — |
| 净利率 | 6.2% | — |
| 营收同比 | -1.1% | -9.3% |
| 净利润同比 | 5.4% | — |
| 每股收益（稀释后） | $0.80 | $-2.16 |
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AADOW
| Q1 26 | — | $9.5B | ||
| Q4 25 | $3.4B | $9.5B | ||
| Q3 25 | $3.0B | $10.0B | ||
| Q2 25 | $3.0B | $10.1B | ||
| Q1 25 | $3.4B | $10.4B | ||
| Q4 24 | $3.5B | $10.4B | ||
| Q3 24 | $2.9B | $10.9B | ||
| Q2 24 | $2.9B | $10.9B |
净利润AADOW
| Q1 26 | — | — | ||
| Q4 25 | $213.0M | $-1.5B | ||
| Q3 25 | $232.0M | $62.0M | ||
| Q2 25 | $164.0M | $-835.0M | ||
| Q1 25 | $548.0M | $-307.0M | ||
| Q4 24 | $202.0M | $-35.0M | ||
| Q3 24 | $90.0M | $214.0M | ||
| Q2 24 | $20.0M | $439.0M |
毛利率AADOW
| Q1 26 | — | 5.8% | ||
| Q4 25 | — | 5.8% | ||
| Q3 25 | — | 7.3% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 9.8% | ||
| Q2 24 | — | 12.1% |
营业利润率AADOW
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | -16.4% | ||
| Q3 25 | 5.6% | 0.7% | ||
| Q2 25 | 5.3% | -6.5% | ||
| Q1 25 | 19.8% | -3.6% | ||
| Q4 24 | 9.7% | 2.1% | ||
| Q3 24 | 6.3% | 3.0% | ||
| Q2 24 | 3.2% | 5.6% |
净利率AADOW
| Q1 26 | — | — | ||
| Q4 25 | 6.2% | -15.6% | ||
| Q3 25 | 7.7% | 0.6% | ||
| Q2 25 | 5.4% | -8.3% | ||
| Q1 25 | 16.3% | -2.9% | ||
| Q4 24 | 5.8% | -0.3% | ||
| Q3 24 | 3.1% | 2.0% | ||
| Q2 24 | 0.7% | 4.0% |
每股收益（稀释后）AADOW
| Q1 26 | — | $-2.16 | ||
| Q4 25 | $0.80 | $-2.16 | ||
| Q3 25 | $0.88 | $0.08 | ||
| Q2 25 | $0.62 | $-1.18 | ||
| Q1 25 | $2.07 | $-0.44 | ||
| Q4 24 | $1.18 | $-0.08 | ||
| Q3 24 | $0.38 | $0.30 | ||
| Q2 24 | $0.11 | $0.62 |
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 | $3.8B |
| 总债务越低越好 | $2.4B | $17.8B |
| 股东权益账面价值 | $6.1B | $16.0B |
| 总资产 | $16.1B | $58.5B |
| 负债/权益比越低杠杆越低 | 0.40× | 1.12× |
8季度趋势，按日历期对齐
现金及短期投资AADOW
| Q1 26 | — | $3.8B | ||
| Q4 25 | $1.6B | $3.8B | ||
| Q3 25 | $1.5B | $4.6B | ||
| Q2 25 | $1.5B | $2.4B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.1B | $2.2B | ||
| Q3 24 | $1.3B | $2.9B | ||
| Q2 24 | $1.4B | $3.3B |
总债务AADOW
| Q1 26 | — | $17.8B | ||
| Q4 25 | $2.4B | $17.8B | ||
| Q3 25 | $2.6B | $17.7B | ||
| Q2 25 | $2.6B | $16.2B | ||
| Q1 25 | $2.6B | $15.9B | ||
| Q4 24 | $2.5B | $15.7B | ||
| Q3 24 | $2.5B | $16.2B | ||
| Q2 24 | $2.5B | $16.0B |
股东权益AADOW
| Q1 26 | — | $16.0B | ||
| Q4 25 | $6.1B | $16.0B | ||
| Q3 25 | $6.3B | $17.5B | ||
| Q2 25 | $6.1B | $17.2B | ||
| Q1 25 | $5.8B | $16.8B | ||
| Q4 24 | $5.2B | $17.4B | ||
| Q3 24 | $5.3B | $18.3B | ||
| Q2 24 | $3.9B | $18.3B |
总资产AADOW
| Q1 26 | — | $58.5B | ||
| Q4 25 | $16.1B | $58.5B | ||
| Q3 25 | $16.0B | $61.0B | ||
| Q2 25 | $15.0B | $59.0B | ||
| Q1 25 | $14.6B | $57.5B | ||
| Q4 24 | $14.1B | $57.3B | ||
| Q3 24 | $14.5B | $59.4B | ||
| Q2 24 | $14.3B | $58.5B |
负债/权益比AADOW
| Q1 26 | — | 1.12× | ||
| Q4 25 | 0.40× | 1.12× | ||
| Q3 25 | 0.41× | 1.01× | ||
| Q2 25 | 0.42× | 0.94× | ||
| Q1 25 | 0.44× | 0.95× | ||
| Q4 24 | 0.48× | 0.91× | ||
| Q3 24 | 0.47× | 0.88× | ||
| Q2 24 | 0.63× | 0.87× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $294.0M | — |
| 自由现金流率自由现金流/营收 | 8.5% | — |
| 资本支出强度资本支出/营收 | 7.0% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流AADOW
| Q1 26 | — | — | ||
| Q4 25 | $537.0M | $284.0M | ||
| Q3 25 | $85.0M | $1.1B | ||
| Q2 25 | $488.0M | $-470.0M | ||
| Q1 25 | $75.0M | $91.0M | ||
| Q4 24 | $415.0M | $814.0M | ||
| Q3 24 | $143.0M | $800.0M | ||
| Q2 24 | $287.0M | $836.0M |
自由现金流AADOW
| Q1 26 | — | — | ||
| Q4 25 | $294.0M | $-284.0M | ||
| Q3 25 | $-66.0M | $563.0M | ||
| Q2 25 | $357.0M | $-1.1B | ||
| Q1 25 | $-18.0M | $-594.0M | ||
| Q4 24 | $246.0M | $47.0M | ||
| Q3 24 | $-3.0M | $64.0M | ||
| Q2 24 | $123.0M | $113.0M |
自由现金流率AADOW
| Q1 26 | — | — | ||
| Q4 25 | 8.5% | -3.0% | ||
| Q3 25 | -2.2% | 5.6% | ||
| Q2 25 | 11.8% | -11.2% | ||
| Q1 25 | -0.5% | -5.7% | ||
| Q4 24 | 7.1% | 0.5% | ||
| Q3 24 | -0.1% | 0.6% | ||
| Q2 24 | 4.2% | 1.0% |
资本支出强度AADOW
| Q1 26 | — | — | ||
| Q4 25 | 7.0% | 6.0% | ||
| Q3 25 | 5.0% | 5.7% | ||
| Q2 25 | 4.3% | 6.6% | ||
| Q1 25 | 2.8% | 6.6% | ||
| Q4 24 | 4.8% | 7.4% | ||
| Q3 24 | 5.0% | 6.8% | ||
| Q2 24 | 5.6% | 6.6% |
现金转化率AADOW
| Q1 26 | — | — | ||
| Q4 25 | 2.52× | — | ||
| Q3 25 | 0.37× | 18.18× | ||
| Q2 25 | 2.98× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 2.05× | — | ||
| Q3 24 | 1.59× | 3.74× | ||
| Q2 24 | 14.35× | 1.90× |
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% |
DOW
暂无分部数据
