vs
美国航空集团（AAL）与阿拉斯加航空集团（ALK）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阿拉斯加航空集团的4.2倍（$14.0B vs $3.3B）。美国航空集团净利率更高（0.7% vs -5.8%，领先6.6%）。阿拉斯加航空集团同比增速更快（5.2% vs 2.5%）。过去两年阿拉斯加航空集团的营收复合增速更高（6.7% 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。
阿拉斯加航空集团是总部位于美国华盛顿州西塔科的航空控股企业，旗下拥有阿拉斯加航空、夏威夷航空两家干线航司，以及区域航司地平线航空，阿拉斯加航空还全资控股飞机地面服务提供商麦吉航空服务。
AAL vs ALK — 直观对比
营收规模更大
AAL
是对方的4.2倍
$3.3B
营收增速更快
ALK
高出2.7%
2.5%
净利率更高
AAL
高出6.6%
-5.8%
两年增速更快
ALK
近两年复合增速
5.5%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $14.0B | $3.3B |
| 净利润 | $99.0M | $-193.0M |
| 毛利率 | — | — |
| 营业利润率 | 3.2% | — |
| 净利率 | 0.7% | -5.8% |
| 营收同比 | 2.5% | 5.2% |
| 净利润同比 | -83.2% | -16.3% |
| 每股收益（稀释后） | $0.15 | $-1.69 |
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AALALK
| Q1 26 | — | $3.3B | ||
| Q4 25 | $14.0B | $3.6B | ||
| Q3 25 | $13.7B | $3.8B | ||
| Q2 25 | $14.4B | $3.7B | ||
| Q1 25 | $12.6B | $3.1B | ||
| Q4 24 | $13.7B | $3.5B | ||
| Q3 24 | $13.6B | $3.1B | ||
| Q2 24 | $14.3B | $2.9B |
净利润AALALK
| Q1 26 | — | $-193.0M | ||
| Q4 25 | $99.0M | $21.0M | ||
| Q3 25 | $-114.0M | $73.0M | ||
| Q2 25 | $599.0M | $172.0M | ||
| Q1 25 | $-473.0M | $-166.0M | ||
| Q4 24 | $590.0M | $71.0M | ||
| Q3 24 | $-149.0M | $236.0M | ||
| Q2 24 | $717.0M | $220.0M |
营业利润率AALALK
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 2.1% | ||
| Q3 25 | 1.1% | 3.9% | ||
| Q2 25 | 7.9% | 7.5% | ||
| Q1 25 | -2.2% | -6.3% | ||
| Q4 24 | 8.3% | 2.1% | ||
| Q3 24 | 0.7% | 11.1% | ||
| Q2 24 | 9.7% | 11.1% |
净利率AALALK
| Q1 26 | — | -5.8% | ||
| Q4 25 | 0.7% | 0.6% | ||
| Q3 25 | -0.8% | 1.9% | ||
| Q2 25 | 4.2% | 4.6% | ||
| Q1 25 | -3.8% | -5.3% | ||
| Q4 24 | 4.3% | 2.0% | ||
| Q3 24 | -1.1% | 7.7% | ||
| Q2 24 | 5.0% | 7.6% |
每股收益（稀释后）AALALK
| Q1 26 | — | $-1.69 | ||
| Q4 25 | $0.15 | $0.14 | ||
| Q3 25 | $-0.17 | $0.62 | ||
| Q2 25 | $0.91 | $1.42 | ||
| Q1 25 | $-0.72 | $-1.35 | ||
| Q4 24 | $0.94 | $0.58 | ||
| Q3 24 | $-0.23 | $1.84 | ||
| Q2 24 | $1.01 | $1.71 |
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 | — | $451.0M |
| 总债务越低越好 | $25.3B | $5.3B |
| 股东权益账面价值 | $-3.7B | $3.7B |
| 总资产 | $61.8B | $20.3B |
| 负债/权益比越低杠杆越低 | — | 1.43× |
8季度趋势，按日历期对齐
现金及短期投资AALALK
| Q1 26 | — | $451.0M | ||
| Q4 25 | — | $627.0M | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B |
总债务AALALK
| Q1 26 | — | $5.3B | ||
| Q4 25 | $25.3B | $4.8B | ||
| Q3 25 | $25.1B | $5.0B | ||
| Q2 25 | $25.3B | $4.9B | ||
| Q1 25 | $24.7B | $4.8B | ||
| Q4 24 | $25.2B | $4.5B | ||
| Q3 24 | $26.3B | $4.6B | ||
| Q2 24 | $27.6B | $2.7B |
股东权益AALALK
| Q1 26 | — | $3.7B | ||
| Q4 25 | $-3.7B | $4.1B | ||
| Q3 25 | $-4.0B | $4.0B | ||
| Q2 25 | $-3.9B | $3.9B | ||
| Q1 25 | $-4.5B | $4.1B | ||
| Q4 24 | $-4.0B | $4.4B | ||
| Q3 24 | $-4.9B | $4.5B | ||
| Q2 24 | $-4.7B | $4.2B |
总资产AALALK
| Q1 26 | — | $20.3B | ||
| Q4 25 | $61.8B | $20.4B | ||
| Q3 25 | $62.1B | $20.0B | ||
| Q2 25 | $63.7B | $19.9B | ||
| Q1 25 | $62.6B | $19.8B | ||
| Q4 24 | $61.8B | $19.8B | ||
| Q3 24 | $63.5B | $19.6B | ||
| Q2 24 | $64.1B | $15.3B |
负债/权益比AALALK
| Q1 26 | — | 1.43× | ||
| Q4 25 | — | 1.17× | ||
| Q3 25 | — | 1.24× | ||
| Q2 25 | — | 1.26× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 1.04× | ||
| Q3 24 | — | 1.03× | ||
| 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 | $-274.0M | $229.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.9B | — |
| 自由现金流率自由现金流/营收 | -13.6% | — |
| 资本支出强度资本支出/营收 | 11.6% | 10.2% |
| 现金转化率经营现金流/净利润 | -2.77× | — |
| 过去12个月自由现金流最近4个季度 | $-680.0M | — |
8季度趋势，按日历期对齐
经营现金流AALALK
| Q1 26 | — | $229.0M | ||
| Q4 25 | $-274.0M | $185.0M | ||
| Q3 25 | $-46.0M | $229.0M | ||
| Q2 25 | $963.0M | $376.0M | ||
| Q1 25 | $2.5B | $459.0M | ||
| Q4 24 | $398.0M | $274.0M | ||
| Q3 24 | $277.0M | $318.0M | ||
| Q2 24 | $1.1B | $580.0M |
自由现金流AALALK
| Q1 26 | — | — | ||
| Q4 25 | $-1.9B | — | ||
| Q3 25 | $-872.0M | — | ||
| Q2 25 | $464.0M | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $-342.0M | — | ||
| Q3 24 | $-191.0M | — | ||
| Q2 24 | $477.0M | — |
自由现金流率AALALK
| Q1 26 | — | — | ||
| Q4 25 | -13.6% | — | ||
| Q3 25 | -6.4% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 13.0% | — | ||
| Q4 24 | -2.5% | — | ||
| Q3 24 | -1.4% | — | ||
| Q2 24 | 3.3% | — |
资本支出强度AALALK
| Q1 26 | — | 10.2% | ||
| Q4 25 | 11.6% | — | ||
| Q3 25 | 6.0% | — | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 4.5% | — |
现金转化率AALALK
| Q1 26 | — | — | ||
| Q4 25 | -2.77× | 8.81× | ||
| Q3 25 | — | 3.14× | ||
| Q2 25 | 1.61× | 2.19× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.67× | 3.86× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | 1.57× | 2.64× |
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% |
ALK
| Passenger revenue | $2.9B | 88% |
| Loyalty program other revenue | $227.0M | 7% |
| Cargo and other revenue | $153.0M | 5% |
