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美国铝业公司（AA）与Keurig Dr Pepper（KDP）财务数据对比。点击上方公司名可切换其他公司
Keurig Dr Pepper的季度营收约是美国铝业公司的1.2倍（$4.0B vs $3.4B），Keurig Dr Pepper净利率更高（6.8% vs 6.2%，领先0.6%），Keurig Dr Pepper同比增速更快（9.4% vs -1.1%），美国铝业公司自由现金流更多（$294.0M vs $184.0M），过去两年美国铝业公司的营收复合增速更高（15.2% vs 0.7%）
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。
Keurig Dr Pepper是美国上市的饮品与咖啡机综合企业，2018年由克里格绿山和胡椒博士斯奈普集团合并成立，在马萨诸塞州伯灵顿及得克萨斯州弗里斯科设有双总部，旗下拥有超125款冷热饮品，加拿大区域业务由当地子公司负责运营。
AA vs KDP — 直观对比
营收规模更大
KDP
是对方的1.2倍
$3.4B
营收增速更快
KDP
高出10.4%
-1.1%
净利率更高
KDP
高出0.6%
6.2%
自由现金流更多
AA
多$110.0M
$184.0M
两年增速更快
AA
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $4.0B |
| 净利润 | $213.0M | $270.0M |
| 毛利率 | — | 52.8% |
| 营业利润率 | 2.0% | 19.0% |
| 净利率 | 6.2% | 6.8% |
| 营收同比 | -1.1% | 9.4% |
| 净利润同比 | 5.4% | -47.8% |
| 每股收益（稀释后） | $0.80 | $0.20 |
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AAKDP
| Q1 26 | — | $4.0B | ||
| Q4 25 | $3.4B | $4.5B | ||
| Q3 25 | $3.0B | $4.3B | ||
| Q2 25 | $3.0B | $4.2B | ||
| Q1 25 | $3.4B | $3.6B | ||
| Q4 24 | $3.5B | $4.1B | ||
| Q3 24 | $2.9B | $3.9B | ||
| Q2 24 | $2.9B | $3.9B |
净利润AAKDP
| Q1 26 | — | $270.0M | ||
| Q4 25 | $213.0M | $353.0M | ||
| Q3 25 | $232.0M | $662.0M | ||
| Q2 25 | $164.0M | $547.0M | ||
| Q1 25 | $548.0M | $517.0M | ||
| Q4 24 | $202.0M | $-144.0M | ||
| Q3 24 | $90.0M | $616.0M | ||
| Q2 24 | $20.0M | $515.0M |
毛利率AAKDP
| Q1 26 | — | 52.8% | ||
| Q4 25 | — | 53.8% | ||
| Q3 25 | — | 54.3% | ||
| Q2 25 | — | 54.2% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 55.9% | ||
| Q3 24 | — | 55.0% | ||
| Q2 24 | — | 55.4% |
营业利润率AAKDP
| Q1 26 | — | 19.0% | ||
| Q4 25 | 2.0% | 19.6% | ||
| Q3 25 | 5.6% | 23.1% | ||
| Q2 25 | 5.3% | 21.6% | ||
| Q1 25 | 19.8% | 22.0% | ||
| Q4 24 | 9.7% | 1.5% | ||
| Q3 24 | 6.3% | 23.2% | ||
| Q2 24 | 3.2% | 22.0% |
净利率AAKDP
| Q1 26 | — | 6.8% | ||
| Q4 25 | 6.2% | 7.8% | ||
| Q3 25 | 7.7% | 15.4% | ||
| Q2 25 | 5.4% | 13.1% | ||
| Q1 25 | 16.3% | 14.2% | ||
| Q4 24 | 5.8% | -3.5% | ||
| Q3 24 | 3.1% | 15.8% | ||
| Q2 24 | 0.7% | 13.1% |
每股收益（稀释后）AAKDP
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.80 | $0.26 | ||
| Q3 25 | $0.88 | $0.49 | ||
| Q2 25 | $0.62 | $0.40 | ||
| Q1 25 | $2.07 | $0.38 | ||
| Q4 24 | $1.18 | $-0.11 | ||
| Q3 24 | $0.38 | $0.45 | ||
| Q2 24 | $0.11 | $0.38 |
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 | $898.0M |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $6.1B | $25.3B |
| 总资产 | $16.1B | $73.1B |
| 负债/权益比越低杠杆越低 | 0.40× | — |
8季度趋势，按日历期对齐
现金及短期投资AAKDP
| Q1 26 | — | $898.0M | ||
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | $1.5B | $516.0M | ||
| Q2 25 | $1.5B | $509.0M | ||
| Q1 25 | $1.2B | $653.0M | ||
| Q4 24 | $1.1B | $510.0M | ||
| Q3 24 | $1.3B | $552.0M | ||
| Q2 24 | $1.4B | $438.0M |
总债务AAKDP
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.5B | — | ||
| Q2 24 | $2.5B | — |
股东权益AAKDP
| Q1 26 | — | $25.3B | ||
| Q4 25 | $6.1B | $25.5B | ||
| Q3 25 | $6.3B | $25.3B | ||
| Q2 25 | $6.1B | $25.0B | ||
| Q1 25 | $5.8B | $24.4B | ||
| Q4 24 | $5.2B | $24.2B | ||
| Q3 24 | $5.3B | $25.0B | ||
| Q2 24 | $3.9B | $24.7B |
总资产AAKDP
| Q1 26 | — | $73.1B | ||
| Q4 25 | $16.1B | $55.5B | ||
| Q3 25 | $16.0B | $54.6B | ||
| Q2 25 | $15.0B | $54.4B | ||
| Q1 25 | $14.6B | $53.7B | ||
| Q4 24 | $14.1B | $53.4B | ||
| Q3 24 | $14.5B | $52.7B | ||
| Q2 24 | $14.3B | $52.3B |
负债/权益比AAKDP
| Q1 26 | — | — | ||
| Q4 25 | 0.40× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.48× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.63× | — |
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 | $281.0M |
| 自由现金流经营现金流 - 资本支出 | $294.0M | $184.0M |
| 自由现金流率自由现金流/营收 | 8.5% | 4.6% |
| 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× | 1.04× |
| 过去12个月自由现金流最近4个季度 | $567.0M | $1.6B |
8季度趋势，按日历期对齐
经营现金流AAKDP
| Q1 26 | — | $281.0M | ||
| Q4 25 | $537.0M | $712.0M | ||
| Q3 25 | $85.0M | $639.0M | ||
| Q2 25 | $488.0M | $431.0M | ||
| Q1 25 | $75.0M | $209.0M | ||
| Q4 24 | $415.0M | $849.0M | ||
| Q3 24 | $143.0M | $628.0M | ||
| Q2 24 | $287.0M | $657.0M |
自由现金流AAKDP
| Q1 26 | — | $184.0M | ||
| Q4 25 | $294.0M | $564.0M | ||
| Q3 25 | $-66.0M | $527.0M | ||
| Q2 25 | $357.0M | $325.0M | ||
| Q1 25 | $-18.0M | $89.0M | ||
| Q4 24 | $246.0M | $684.0M | ||
| Q3 24 | $-3.0M | $503.0M | ||
| Q2 24 | $123.0M | $542.0M |
自由现金流率AAKDP
| Q1 26 | — | 4.6% | ||
| Q4 25 | 8.5% | 12.5% | ||
| Q3 25 | -2.2% | 12.2% | ||
| Q2 25 | 11.8% | 7.8% | ||
| Q1 25 | -0.5% | 2.4% | ||
| Q4 24 | 7.1% | 16.8% | ||
| Q3 24 | -0.1% | 12.9% | ||
| Q2 24 | 4.2% | 13.8% |
资本支出强度AAKDP
| Q1 26 | — | — | ||
| Q4 25 | 7.0% | 3.3% | ||
| Q3 25 | 5.0% | 2.6% | ||
| Q2 25 | 4.3% | 2.5% | ||
| Q1 25 | 2.8% | 3.3% | ||
| Q4 24 | 4.8% | 4.1% | ||
| Q3 24 | 5.0% | 3.2% | ||
| Q2 24 | 5.6% | 2.9% |
现金转化率AAKDP
| Q1 26 | — | 1.04× | ||
| Q4 25 | 2.52× | 2.02× | ||
| Q3 25 | 0.37× | 0.97× | ||
| Q2 25 | 2.98× | 0.79× | ||
| Q1 25 | 0.14× | 0.40× | ||
| Q4 24 | 2.05× | — | ||
| Q3 24 | 1.59× | 1.02× | ||
| Q2 24 | 14.35× | 1.28× |
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% |
KDP
| U.S. Refreshment Beverages | $2.6B | 65% |
| U.S. Coffee | $877.0M | 22% |
| International | $435.0M | 11% |
