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美国航空集团（AAL）与Arcosa, Inc.（ACA）财务数据对比。点击上方公司名可切换其他公司
美国航空集团的季度营收约是Arcosa, Inc.的19.5倍（$14.0B vs $716.7M）。Arcosa, Inc.净利率更高（7.3% vs 0.7%，领先6.6%）。Arcosa, Inc.同比增速更快（7.6% vs 2.5%）。Arcosa, Inc.自由现金流更多（$55.8M vs $-1.9B）。过去两年Arcosa, Inc.的营收复合增速更高（9.4% vs 5.5%）
美国航空集团是美国头部航司，总部坐落于得克萨斯州沃斯堡的达拉斯-沃斯堡都会区，按客运量、日航班量计算为全球最大航司。集团旗下连同区域子公司及以American Eagle品牌运营的合作航司，每日运营近6800个航班，覆盖48个国家近350个目的地，拥有完善的国内外航线网络。
Arcosa, Inc.是一家基础设施相关产品及解决方案提供商，业务覆盖建筑、能源、交通三大核心板块，主营公用设施结构件、建筑集料、交通零部件等产品，主要面向北美市场客户，为各类关键基础设施建设项目提供支持。
AAL vs ACA — 直观对比
营收规模更大
AAL
是对方的19.5倍
$716.7M
营收增速更快
ACA
高出5.1%
2.5%
净利率更高
ACA
高出6.6%
0.7%
自由现金流更多
ACA
多$2.0B
$-1.9B
两年增速更快
ACA
近两年复合增速
5.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $14.0B | $716.7M |
| 净利润 | $99.0M | $52.1M |
| 毛利率 | — | 22.9% |
| 营业利润率 | 3.2% | 11.0% |
| 净利率 | 0.7% | 7.3% |
| 营收同比 | 2.5% | 7.6% |
| 净利润同比 | -83.2% | 776.6% |
| 每股收益（稀释后） | $0.15 | $1.06 |
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AALACA
| Q4 25 | $14.0B | $716.7M | ||
| Q3 25 | $13.7B | $797.8M | ||
| Q2 25 | $14.4B | $736.9M | ||
| Q1 25 | $12.6B | $632.0M | ||
| Q4 24 | $13.7B | $666.2M | ||
| Q3 24 | $13.6B | $640.4M | ||
| Q2 24 | $14.3B | $664.7M | ||
| Q1 24 | $12.6B | $598.6M |
净利润AALACA
| Q4 25 | $99.0M | $52.1M | ||
| Q3 25 | $-114.0M | $73.0M | ||
| Q2 25 | $599.0M | $59.7M | ||
| Q1 25 | $-473.0M | $23.6M | ||
| Q4 24 | $590.0M | $-7.7M | ||
| Q3 24 | $-149.0M | $16.6M | ||
| Q2 24 | $717.0M | $45.6M | ||
| Q1 24 | $-312.0M | $39.2M |
毛利率AALACA
| Q4 25 | — | 22.9% | ||
| Q3 25 | — | 24.1% | ||
| Q2 25 | — | 22.5% | ||
| Q1 25 | — | 19.8% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.3% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 18.6% |
营业利润率AALACA
| Q4 25 | 3.2% | 11.0% | ||
| Q3 25 | 1.1% | 14.1% | ||
| Q2 25 | 7.9% | 12.9% | ||
| Q1 25 | -2.2% | 8.8% | ||
| Q4 24 | 8.3% | 6.5% | ||
| Q3 24 | 0.7% | 5.3% | ||
| Q2 24 | 9.7% | 10.1% | ||
| Q1 24 | 0.1% | 8.9% |
净利率AALACA
| Q4 25 | 0.7% | 7.3% | ||
| Q3 25 | -0.8% | 9.2% | ||
| Q2 25 | 4.2% | 8.1% | ||
| Q1 25 | -3.8% | 3.7% | ||
| Q4 24 | 4.3% | -1.2% | ||
| Q3 24 | -1.1% | 2.6% | ||
| Q2 24 | 5.0% | 6.9% | ||
| Q1 24 | -2.5% | 6.5% |
每股收益（稀释后）AALACA
| Q4 25 | $0.15 | $1.06 | ||
| Q3 25 | $-0.17 | $1.48 | ||
| Q2 25 | $0.91 | $1.22 | ||
| Q1 25 | $-0.72 | $0.48 | ||
| Q4 24 | $0.94 | $-0.16 | ||
| Q3 24 | $-0.23 | $0.34 | ||
| Q2 24 | $1.01 | $0.93 | ||
| Q1 24 | $-0.48 | $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 | — | $214.6M |
| 总债务越低越好 | $25.3B | $1.5B |
| 股东权益账面价值 | $-3.7B | $2.6B |
| 总资产 | $61.8B | $5.0B |
| 负债/权益比越低杠杆越低 | — | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资AALACA
| Q4 25 | — | $214.6M | ||
| Q3 25 | — | $220.0M | ||
| Q2 25 | — | $189.7M | ||
| Q1 25 | — | $167.9M | ||
| Q4 24 | — | $187.3M | ||
| Q3 24 | — | $756.8M | ||
| Q2 24 | — | $103.7M | ||
| Q1 24 | — | $176.5M |
总债务AALACA
| Q4 25 | $25.3B | $1.5B | ||
| Q3 25 | $25.1B | $1.6B | ||
| Q2 25 | $25.3B | $1.7B | ||
| Q1 25 | $24.7B | $1.7B | ||
| Q4 24 | $25.2B | $1.7B | ||
| Q3 24 | $26.3B | $1.2B | ||
| Q2 24 | $27.6B | $699.9M | ||
| Q1 24 | $28.2B | $600.6M |
股东权益AALACA
| Q4 25 | $-3.7B | $2.6B | ||
| Q3 25 | $-4.0B | $2.6B | ||
| Q2 25 | $-3.9B | $2.5B | ||
| Q1 25 | $-4.5B | $2.5B | ||
| Q4 24 | $-4.0B | $2.4B | ||
| Q3 24 | $-4.9B | $2.4B | ||
| Q2 24 | $-4.7B | $2.4B | ||
| Q1 24 | $-5.5B | $2.4B |
总资产AALACA
| Q4 25 | $61.8B | $5.0B | ||
| Q3 25 | $62.1B | $5.1B | ||
| Q2 25 | $63.7B | $5.0B | ||
| Q1 25 | $62.6B | $4.9B | ||
| Q4 24 | $61.8B | $4.9B | ||
| Q3 24 | $63.5B | $4.4B | ||
| Q2 24 | $64.1B | $3.8B | ||
| Q1 24 | $64.4B | $3.7B |
负债/权益比AALACA
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.67× | ||
| Q1 25 | — | 0.68× | ||
| Q4 24 | — | 0.69× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | — | 0.25× |
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 | $-274.0M | $120.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.9B | $55.8M |
| 自由现金流率自由现金流/营收 | -13.6% | 7.8% |
| 资本支出强度资本支出/营收 | 11.6% | 9.0% |
| 现金转化率经营现金流/净利润 | -2.77× | 2.30× |
| 过去12个月自由现金流最近4个季度 | $-680.0M | $175.5M |
8季度趋势，按日历期对齐
经营现金流AALACA
| Q4 25 | $-274.0M | $120.0M | ||
| Q3 25 | $-46.0M | $160.6M | ||
| Q2 25 | $963.0M | $61.2M | ||
| Q1 25 | $2.5B | $-700.0K | ||
| Q4 24 | $398.0M | $248.2M | ||
| Q3 24 | $277.0M | $135.0M | ||
| Q2 24 | $1.1B | $38.3M | ||
| Q1 24 | $2.2B | $80.5M |
自由现金流AALACA
| Q4 25 | $-1.9B | $55.8M | ||
| Q3 25 | $-872.0M | $121.0M | ||
| Q2 25 | $464.0M | $33.4M | ||
| Q1 25 | $1.6B | $-34.7M | ||
| Q4 24 | $-342.0M | $194.9M | ||
| Q3 24 | $-191.0M | $100.6M | ||
| Q2 24 | $477.0M | $-9.3M | ||
| Q1 24 | $1.4B | $26.1M |
自由现金流率AALACA
| Q4 25 | -13.6% | 7.8% | ||
| Q3 25 | -6.4% | 15.2% | ||
| Q2 25 | 3.2% | 4.5% | ||
| Q1 25 | 13.0% | -5.5% | ||
| Q4 24 | -2.5% | 29.3% | ||
| Q3 24 | -1.4% | 15.7% | ||
| Q2 24 | 3.3% | -1.4% | ||
| Q1 24 | 10.8% | 4.4% |
资本支出强度AALACA
| Q4 25 | 11.6% | 9.0% | ||
| Q3 25 | 6.0% | 5.0% | ||
| Q2 25 | 3.5% | 3.8% | ||
| Q1 25 | 6.6% | 5.4% | ||
| Q4 24 | 5.4% | 8.0% | ||
| Q3 24 | 3.4% | 5.4% | ||
| Q2 24 | 4.5% | 7.2% | ||
| Q1 24 | 6.6% | 9.1% |
现金转化率AALACA
| Q4 25 | -2.77× | 2.30× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | 1.61× | 1.03× | ||
| Q1 25 | — | -0.03× | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | — | 8.13× | ||
| Q2 24 | 1.57× | 0.84× | ||
| Q1 24 | — | 2.05× |
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
AAL
| Passenger Travel | $11.6B | 83% |
| Loyalty Program Travel Redemptions | $1.1B | 8% |
| Loyalty Program Marketing Services | $945.0M | 7% |
| Cargo And Freight | $227.0M | 2% |
| Other Revenue | $169.0M | 1% |
ACA
| Engineered Structures | $301.1M | 42% |
| Total Construction Materials | $276.8M | 39% |
| Specialty Materials And Asphalt | $110.2M | 15% |
| Construction Site Support | $28.6M | 4% |
