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美国航空集团（AAL）与Axon Enterprise（AXON）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Axon Enterprise的17.6倍（$14.0B vs $796.7M）。美国航空集团净利率更高（0.7% vs 0.3%，领先0.4%）。Axon Enterprise同比增速更快（38.9% vs 2.5%）。Axon Enterprise自由现金流更多（$155.4M vs $-1.9B）。过去两年Axon Enterprise的营收复合增速更高（31.5% 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。
Axon Enterprise是总部位于美国亚利桑那州斯科茨代尔的企业，面向军队、执法部门及民用市场开发各类武器装备与相关技术产品，业务覆盖公共安全、国防及民用消费等多个领域，为不同用户群体提供适配的产品解决方案。
AAL vs AXON — 直观对比
营收规模更大
AAL
是对方的17.6倍
$796.7M
营收增速更快
AXON
高出36.5%
2.5%
净利率更高
AAL
高出0.4%
0.3%
自由现金流更多
AXON
多$2.1B
$-1.9B
两年增速更快
AXON
近两年复合增速
5.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $14.0B | $796.7M |
| 净利润 | $99.0M | $2.7M |
| 毛利率 | — | 57.9% |
| 营业利润率 | 3.2% | -6.3% |
| 净利率 | 0.7% | 0.3% |
| 营收同比 | 2.5% | 38.9% |
| 净利润同比 | -83.2% | -98.0% |
| 每股收益（稀释后） | $0.15 | $0.02 |
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AALAXON
| Q4 25 | $14.0B | $796.7M | ||
| Q3 25 | $13.7B | $710.6M | ||
| Q2 25 | $14.4B | $668.5M | ||
| Q1 25 | $12.6B | $603.6M | ||
| Q4 24 | $13.7B | $573.4M | ||
| Q3 24 | $13.6B | $544.3M | ||
| Q2 24 | $14.3B | $504.1M | ||
| Q1 24 | $12.6B | $460.7M |
净利润AALAXON
| Q4 25 | $99.0M | $2.7M | ||
| Q3 25 | $-114.0M | $-2.2M | ||
| Q2 25 | $599.0M | $36.1M | ||
| Q1 25 | $-473.0M | $88.0M | ||
| Q4 24 | $590.0M | $136.0M | ||
| Q3 24 | $-149.0M | $67.0M | ||
| Q2 24 | $717.0M | $40.8M | ||
| Q1 24 | $-312.0M | $133.2M |
毛利率AALAXON
| Q4 25 | — | 57.9% | ||
| Q3 25 | — | 60.1% | ||
| Q2 25 | — | 60.4% | ||
| Q1 25 | — | 60.6% | ||
| Q4 24 | — | 60.5% | ||
| Q3 24 | — | 60.8% | ||
| Q2 24 | — | 60.3% | ||
| Q1 24 | — | 56.4% |
营业利润率AALAXON
| Q4 25 | 3.2% | -6.3% | ||
| Q3 25 | 1.1% | -0.3% | ||
| Q2 25 | 7.9% | -0.2% | ||
| Q1 25 | -2.2% | -1.5% | ||
| Q4 24 | 8.3% | -2.6% | ||
| Q3 24 | 0.7% | 4.4% | ||
| Q2 24 | 9.7% | 6.5% | ||
| Q1 24 | 0.1% | 3.5% |
净利率AALAXON
| Q4 25 | 0.7% | 0.3% | ||
| Q3 25 | -0.8% | -0.3% | ||
| Q2 25 | 4.2% | 5.4% | ||
| Q1 25 | -3.8% | 14.6% | ||
| Q4 24 | 4.3% | 23.7% | ||
| Q3 24 | -1.1% | 12.3% | ||
| Q2 24 | 5.0% | 8.1% | ||
| Q1 24 | -2.5% | 28.9% |
每股收益（稀释后）AALAXON
| Q4 25 | $0.15 | $0.02 | ||
| Q3 25 | $-0.17 | $-0.03 | ||
| Q2 25 | $0.91 | $0.44 | ||
| Q1 25 | $-0.72 | $1.08 | ||
| Q4 24 | $0.94 | $1.68 | ||
| Q3 24 | $-0.23 | $0.86 | ||
| Q2 24 | $1.01 | $0.53 | ||
| Q1 24 | $-0.48 | $1.73 |
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 | — | $1.7B |
| 总债务越低越好 | $25.3B | $1.8B |
| 股东权益账面价值 | $-3.7B | $3.2B |
| 总资产 | $61.8B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资AALAXON
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $788.1M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $968.9M | ||
| Q1 24 | — | $964.1M |
总债务AALAXON
| Q4 25 | $25.3B | $1.8B | ||
| Q3 25 | $25.1B | $2.0B | ||
| Q2 25 | $25.3B | $2.0B | ||
| Q1 25 | $24.7B | $2.0B | ||
| Q4 24 | $25.2B | $680.3M | ||
| Q3 24 | $26.3B | — | ||
| Q2 24 | $27.6B | — | ||
| Q1 24 | $28.2B | — |
股东权益AALAXON
| Q4 25 | $-3.7B | $3.2B | ||
| Q3 25 | $-4.0B | $3.0B | ||
| Q2 25 | $-3.9B | $2.7B | ||
| Q1 25 | $-4.5B | $2.6B | ||
| Q4 24 | $-4.0B | $2.3B | ||
| Q3 24 | $-4.9B | $2.1B | ||
| Q2 24 | $-4.7B | $1.9B | ||
| Q1 24 | $-5.5B | $1.8B |
总资产AALAXON
| Q4 25 | $61.8B | $7.0B | ||
| Q3 25 | $62.1B | $6.7B | ||
| Q2 25 | $63.7B | $6.2B | ||
| Q1 25 | $62.6B | $6.1B | ||
| Q4 24 | $61.8B | $4.5B | ||
| Q3 24 | $63.5B | $4.0B | ||
| Q2 24 | $64.1B | $3.7B | ||
| Q1 24 | $64.4B | $3.6B |
负债/权益比AALAXON
| Q4 25 | — | 0.56× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.79× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $217.2M |
| 自由现金流经营现金流 - 资本支出 | $-1.9B | $155.4M |
| 自由现金流率自由现金流/营收 | -13.6% | 19.5% |
| 资本支出强度资本支出/营收 | 11.6% | 7.8% |
| 现金转化率经营现金流/净利润 | -2.77× | 79.14× |
| 过去12个月自由现金流最近4个季度 | $-680.0M | $75.1M |
8季度趋势，按日历期对齐
经营现金流AALAXON
| Q4 25 | $-274.0M | $217.2M | ||
| Q3 25 | $-46.0M | $60.0M | ||
| Q2 25 | $963.0M | $-91.7M | ||
| Q1 25 | $2.5B | $25.8M | ||
| Q4 24 | $398.0M | $250.2M | ||
| Q3 24 | $277.0M | $91.3M | ||
| Q2 24 | $1.1B | $82.8M | ||
| Q1 24 | $2.2B | $-15.9M |
自由现金流AALAXON
| Q4 25 | $-1.9B | $155.4M | ||
| Q3 25 | $-872.0M | $33.4M | ||
| Q2 25 | $464.0M | $-114.7M | ||
| Q1 25 | $1.6B | $932.0K | ||
| Q4 24 | $-342.0M | $225.4M | ||
| Q3 24 | $-191.0M | $64.8M | ||
| Q2 24 | $477.0M | $71.4M | ||
| Q1 24 | $1.4B | $-32.1M |
自由现金流率AALAXON
| Q4 25 | -13.6% | 19.5% | ||
| Q3 25 | -6.4% | 4.7% | ||
| Q2 25 | 3.2% | -17.2% | ||
| Q1 25 | 13.0% | 0.2% | ||
| Q4 24 | -2.5% | 39.3% | ||
| Q3 24 | -1.4% | 11.9% | ||
| Q2 24 | 3.3% | 14.2% | ||
| Q1 24 | 10.8% | -7.0% |
资本支出强度AALAXON
| Q4 25 | 11.6% | 7.8% | ||
| Q3 25 | 6.0% | 3.7% | ||
| Q2 25 | 3.5% | 3.4% | ||
| Q1 25 | 6.6% | 4.1% | ||
| Q4 24 | 5.4% | 4.3% | ||
| Q3 24 | 3.4% | 4.9% | ||
| Q2 24 | 4.5% | 2.2% | ||
| Q1 24 | 6.6% | 3.5% |
现金转化率AALAXON
| Q4 25 | -2.77× | 79.14× | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.61× | -2.54× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | 0.67× | 1.84× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | 1.57× | 2.03× | ||
| Q1 24 | — | -0.12× |
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% |
AXON
| Software And Sensors Segment | $342.5M | 43% |
| TASER Devices Professional | $264.2M | 33% |
| Personal Sensors | $109.1M | 14% |
| Platform Solutions | $80.9M | 10% |
