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美国航空集团（AAL）与捷蓝航空（JBLU）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捷蓝航空的6.2倍（$14.0B vs $2.2B）。美国航空集团净利率更高（0.7% vs -7.9%，领先8.6%）。美国航空集团同比增速更快（2.5% vs -1.4%）。捷蓝航空自由现金流更多（$-287.0M vs $-1.9B）。过去两年美国航空集团的营收复合增速更高（5.5% vs 0.8%）
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。
捷蓝航空是美国低成本航空公司，总部设于纽约市皇后区长岛市。运营以点对点航线为主，拥有包括纽约肯尼迪国际机场主枢纽在内的六大重点城市航点网络，航线覆盖美洲及欧洲多地。虽未加入任何全球航空联盟，但与寰宇一家、天合联盟、星空联盟的多家航司均有代码共享合作。
AAL vs JBLU — 直观对比
营收规模更大
AAL
是对方的6.2倍
$2.2B
营收增速更快
AAL
高出3.9%
-1.4%
净利率更高
AAL
高出8.6%
-7.9%
自由现金流更多
JBLU
多$1.6B
$-1.9B
两年增速更快
AAL
近两年复合增速
0.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $14.0B | $2.2B |
| 净利润 | $99.0M | $-177.0M |
| 毛利率 | — | — |
| 营业利润率 | 3.2% | -4.5% |
| 净利率 | 0.7% | -7.9% |
| 营收同比 | 2.5% | -1.4% |
| 净利润同比 | -83.2% | -302.3% |
| 每股收益（稀释后） | $0.15 | $-0.47 |
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AALJBLU
| Q4 25 | $14.0B | $2.2B | ||
| Q3 25 | $13.7B | $2.3B | ||
| Q2 25 | $14.4B | $2.4B | ||
| Q1 25 | $12.6B | $2.1B | ||
| Q4 24 | $13.7B | $2.3B | ||
| Q3 24 | $13.6B | $2.4B | ||
| Q2 24 | $14.3B | $2.4B | ||
| Q1 24 | $12.6B | $2.2B |
净利润AALJBLU
| Q4 25 | $99.0M | $-177.0M | ||
| Q3 25 | $-114.0M | $-143.0M | ||
| Q2 25 | $599.0M | $-74.0M | ||
| Q1 25 | $-473.0M | $-208.0M | ||
| Q4 24 | $590.0M | $-44.0M | ||
| Q3 24 | $-149.0M | $-60.0M | ||
| Q2 24 | $717.0M | $25.0M | ||
| Q1 24 | $-312.0M | $-716.0M |
营业利润率AALJBLU
| Q4 25 | 3.2% | -4.5% | ||
| Q3 25 | 1.1% | -4.3% | ||
| Q2 25 | 7.9% | 0.3% | ||
| Q1 25 | -2.2% | -8.1% | ||
| Q4 24 | 8.3% | 0.7% | ||
| Q3 24 | 0.7% | -1.6% | ||
| Q2 24 | 9.7% | 2.3% | ||
| Q1 24 | 0.1% | -32.5% |
净利率AALJBLU
| Q4 25 | 0.7% | -7.9% | ||
| Q3 25 | -0.8% | -6.2% | ||
| Q2 25 | 4.2% | -3.1% | ||
| Q1 25 | -3.8% | -9.7% | ||
| Q4 24 | 4.3% | -1.9% | ||
| Q3 24 | -1.1% | -2.5% | ||
| Q2 24 | 5.0% | 1.0% | ||
| Q1 24 | -2.5% | -32.4% |
每股收益（稀释后）AALJBLU
| Q4 25 | $0.15 | $-0.47 | ||
| Q3 25 | $-0.17 | $-0.39 | ||
| Q2 25 | $0.91 | $-0.21 | ||
| Q1 25 | $-0.72 | $-0.59 | ||
| Q4 24 | $0.94 | $-0.09 | ||
| Q3 24 | $-0.23 | $-0.17 | ||
| Q2 24 | $1.01 | $0.07 | ||
| Q1 24 | $-0.48 | $-2.11 |
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 | — | $2.2B |
| 总债务越低越好 | $25.3B | $7.7B |
| 股东权益账面价值 | $-3.7B | $2.1B |
| 总资产 | $61.8B | $16.6B |
| 负债/权益比越低杠杆越低 | — | 3.65× |
8季度趋势，按日历期对齐
现金及短期投资AALJBLU
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.6B |
总债务AALJBLU
| Q4 25 | $25.3B | $7.7B | ||
| Q3 25 | $25.1B | $7.8B | ||
| Q2 25 | $25.3B | $7.7B | ||
| Q1 25 | $24.7B | $8.1B | ||
| Q4 24 | $25.2B | $8.1B | ||
| Q3 24 | $26.3B | $7.9B | ||
| Q2 24 | $27.6B | $5.0B | ||
| Q1 24 | $28.2B | $4.7B |
股东权益AALJBLU
| Q4 25 | $-3.7B | $2.1B | ||
| Q3 25 | $-4.0B | $2.3B | ||
| Q2 25 | $-3.9B | $2.4B | ||
| Q1 25 | $-4.5B | $2.4B | ||
| Q4 24 | $-4.0B | $2.6B | ||
| Q3 24 | $-4.9B | $2.6B | ||
| Q2 24 | $-4.7B | $2.7B | ||
| Q1 24 | $-5.5B | $2.6B |
总资产AALJBLU
| Q4 25 | $61.8B | $16.6B | ||
| Q3 25 | $62.1B | $16.6B | ||
| Q2 25 | $63.7B | $16.9B | ||
| Q1 25 | $62.6B | $17.1B | ||
| Q4 24 | $61.8B | $16.8B | ||
| Q3 24 | $63.5B | $16.6B | ||
| Q2 24 | $64.1B | $14.0B | ||
| Q1 24 | $64.4B | $13.7B |
负债/权益比AALJBLU
| Q4 25 | — | 3.65× | ||
| Q3 25 | — | 3.42× | ||
| Q2 25 | — | 3.21× | ||
| Q1 25 | — | 3.31× | ||
| Q4 24 | — | 3.08× | ||
| Q3 24 | — | 2.98× | ||
| Q2 24 | — | 1.86× | ||
| Q1 24 | — | 1.78× |
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 | $49.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.9B | $-287.0M |
| 自由现金流率自由现金流/营收 | -13.6% | -12.8% |
| 资本支出强度资本支出/营收 | 11.6% | 15.0% |
| 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 | $-1.2B |
8季度趋势，按日历期对齐
经营现金流AALJBLU
| Q4 25 | $-274.0M | $49.0M | ||
| Q3 25 | $-46.0M | $-142.0M | ||
| Q2 25 | $963.0M | $-115.0M | ||
| Q1 25 | $2.5B | $114.0M | ||
| Q4 24 | $398.0M | $-17.0M | ||
| Q3 24 | $277.0M | $-29.0M | ||
| Q2 24 | $1.1B | $-14.0M | ||
| Q1 24 | $2.2B | $204.0M |
自由现金流AALJBLU
| Q4 25 | $-1.9B | $-287.0M | ||
| Q3 25 | $-872.0M | $-411.0M | ||
| Q2 25 | $464.0M | $-412.0M | ||
| Q1 25 | $1.6B | $-62.0M | ||
| Q4 24 | $-342.0M | $-368.0M | ||
| Q3 24 | $-191.0M | $-302.0M | ||
| Q2 24 | $477.0M | $-441.0M | ||
| Q1 24 | $1.4B | $-223.0M |
自由现金流率AALJBLU
| Q4 25 | -13.6% | -12.8% | ||
| Q3 25 | -6.4% | -17.7% | ||
| Q2 25 | 3.2% | -17.5% | ||
| Q1 25 | 13.0% | -2.9% | ||
| Q4 24 | -2.5% | -16.2% | ||
| Q3 24 | -1.4% | -12.8% | ||
| Q2 24 | 3.3% | -18.2% | ||
| Q1 24 | 10.8% | -10.1% |
资本支出强度AALJBLU
| Q4 25 | 11.6% | 15.0% | ||
| Q3 25 | 6.0% | 11.6% | ||
| Q2 25 | 3.5% | 12.6% | ||
| Q1 25 | 6.6% | 8.2% | ||
| Q4 24 | 5.4% | 15.4% | ||
| Q3 24 | 3.4% | 11.5% | ||
| Q2 24 | 4.5% | 17.6% | ||
| Q1 24 | 6.6% | 19.3% |
现金转化率AALJBLU
| Q4 25 | -2.77× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.61× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.57× | -0.56× | ||
| Q1 24 | — | — |
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% |
JBLU
| Passenger | $2.1B | 91% |
| Other | $191.0M | 9% |
