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美国航空集团（AAL）与星巴克（SBUX）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星巴克的1.4倍（$14.0B vs $9.9B），星巴克净利率更高（3.0% vs 0.7%，领先2.3%），星巴克同比增速更快（5.5% vs 2.5%），星巴克自由现金流更多（$1.3B vs $-1.9B），过去两年星巴克的营收复合增速更高（7.6% 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。
星巴克是总部位于美国华盛顿州西雅图的跨国连锁咖啡店及烘焙工坊品牌，1971年由杰里·鲍德温、泽夫·西格尔和戈登·鲍克在西雅图派克市场创立，最初以咖啡豆批发业务起家，如今门店遍布全球多国，是全球极具知名度的咖啡零售品牌。
AAL vs SBUX — 直观对比
营收规模更大
AAL
是对方的1.4倍
$9.9B
营收增速更快
SBUX
高出3.0%
2.5%
净利率更高
SBUX
高出2.3%
0.7%
自由现金流更多
SBUX
多$3.2B
$-1.9B
两年增速更快
SBUX
近两年复合增速
5.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $14.0B | $9.9B |
| 净利润 | $99.0M | $293.3M |
| 毛利率 | — | — |
| 营业利润率 | 3.2% | 9.0% |
| 净利率 | 0.7% | 3.0% |
| 营收同比 | 2.5% | 5.5% |
| 净利润同比 | -83.2% | -62.4% |
| 每股收益（稀释后） | $0.15 | $0.26 |
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AALSBUX
| Q4 25 | $14.0B | $9.9B | ||
| Q3 25 | $13.7B | $9.6B | ||
| Q2 25 | $14.4B | $9.5B | ||
| Q1 25 | $12.6B | $8.8B | ||
| Q4 24 | $13.7B | $9.4B | ||
| Q3 24 | $13.6B | $9.1B | ||
| Q2 24 | $14.3B | $9.1B | ||
| Q1 24 | $12.6B | $8.6B |
净利润AALSBUX
| Q4 25 | $99.0M | $293.3M | ||
| Q3 25 | $-114.0M | $133.1M | ||
| Q2 25 | $599.0M | $558.3M | ||
| Q1 25 | $-473.0M | $384.2M | ||
| Q4 24 | $590.0M | $780.8M | ||
| Q3 24 | $-149.0M | $909.3M | ||
| Q2 24 | $717.0M | $1.1B | ||
| Q1 24 | $-312.0M | $772.4M |
营业利润率AALSBUX
| Q4 25 | 3.2% | 9.0% | ||
| Q3 25 | 1.1% | 2.9% | ||
| Q2 25 | 7.9% | 9.9% | ||
| Q1 25 | -2.2% | 6.9% | ||
| Q4 24 | 8.3% | 11.9% | ||
| Q3 24 | 0.7% | 14.4% | ||
| Q2 24 | 9.7% | 16.7% | ||
| Q1 24 | 0.1% | 12.8% |
净利率AALSBUX
| Q4 25 | 0.7% | 3.0% | ||
| Q3 25 | -0.8% | 1.4% | ||
| Q2 25 | 4.2% | 5.9% | ||
| Q1 25 | -3.8% | 4.4% | ||
| Q4 24 | 4.3% | 8.3% | ||
| Q3 24 | -1.1% | 10.0% | ||
| Q2 24 | 5.0% | 11.6% | ||
| Q1 24 | -2.5% | 9.0% |
每股收益（稀释后）AALSBUX
| Q4 25 | $0.15 | $0.26 | ||
| Q3 25 | $-0.17 | $0.11 | ||
| Q2 25 | $0.91 | $0.49 | ||
| Q1 25 | $-0.72 | $0.34 | ||
| Q4 24 | $0.94 | $0.69 | ||
| Q3 24 | $-0.23 | $0.80 | ||
| Q2 24 | $1.01 | $0.93 | ||
| Q1 24 | $-0.48 | $0.68 |
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 | — | $184.9M |
| 总债务越低越好 | $25.3B | $16.1B |
| 股东权益账面价值 | $-3.7B | $-8.4B |
| 总资产 | $61.8B | $32.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AALSBUX
| Q4 25 | — | $184.9M | ||
| Q3 25 | — | $247.2M | ||
| Q2 25 | — | $333.3M | ||
| Q1 25 | — | $340.2M | ||
| Q4 24 | — | $285.8M | ||
| Q3 24 | — | $257.0M | ||
| Q2 24 | — | $212.3M | ||
| Q1 24 | — | $362.5M |
总债务AALSBUX
| Q4 25 | $25.3B | $16.1B | ||
| Q3 25 | $25.1B | $16.1B | ||
| Q2 25 | $25.3B | $17.3B | ||
| Q1 25 | $24.7B | $15.6B | ||
| Q4 24 | $25.2B | $15.6B | ||
| Q3 24 | $26.3B | $15.6B | ||
| Q2 24 | $27.6B | $15.6B | ||
| Q1 24 | $28.2B | $15.5B |
股东权益AALSBUX
| Q4 25 | $-3.7B | $-8.4B | ||
| Q3 25 | $-4.0B | $-8.1B | ||
| Q2 25 | $-3.9B | $-7.7B | ||
| Q1 25 | $-4.5B | $-7.6B | ||
| Q4 24 | $-4.0B | $-7.5B | ||
| Q3 24 | $-4.9B | $-7.4B | ||
| Q2 24 | $-4.7B | $-7.9B | ||
| Q1 24 | $-5.5B | $-8.4B |
总资产AALSBUX
| Q4 25 | $61.8B | $32.2B | ||
| Q3 25 | $62.1B | $32.0B | ||
| Q2 25 | $63.7B | $33.6B | ||
| Q1 25 | $62.6B | $31.6B | ||
| Q4 24 | $61.8B | $31.9B | ||
| Q3 24 | $63.5B | $31.3B | ||
| Q2 24 | $64.1B | $30.1B | ||
| Q1 24 | $64.4B | $29.4B |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $-1.9B | $1.3B |
| 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% | 3.3% |
| 现金转化率经营现金流/净利润 | -2.77× | 5.45× |
| 过去12个月自由现金流最近4个季度 | $-680.0M | $2.3B |
8季度趋势，按日历期对齐
经营现金流AALSBUX
| Q4 25 | $-274.0M | $1.6B | ||
| Q3 25 | $-46.0M | $1.4B | ||
| Q2 25 | $963.0M | $1.0B | ||
| Q1 25 | $2.5B | $292.0M | ||
| Q4 24 | $398.0M | $2.1B | ||
| Q3 24 | $277.0M | $1.5B | ||
| Q2 24 | $1.1B | $1.7B | ||
| Q1 24 | $2.2B | $506.0M |
自由现金流AALSBUX
| Q4 25 | $-1.9B | $1.3B | ||
| Q3 25 | $-872.0M | $925.8M | ||
| Q2 25 | $464.0M | $434.3M | ||
| Q1 25 | $1.6B | $-297.2M | ||
| Q4 24 | $-342.0M | $1.4B | ||
| Q3 24 | $-191.0M | $737.4M | ||
| Q2 24 | $477.0M | $945.8M | ||
| Q1 24 | $1.4B | $-153.1M |
自由现金流率AALSBUX
| Q4 25 | -13.6% | 12.8% | ||
| Q3 25 | -6.4% | 9.7% | ||
| Q2 25 | 3.2% | 4.6% | ||
| Q1 25 | 13.0% | -3.4% | ||
| Q4 24 | -2.5% | 14.7% | ||
| Q3 24 | -1.4% | 8.1% | ||
| Q2 24 | 3.3% | 10.4% | ||
| Q1 24 | 10.8% | -1.8% |
资本支出强度AALSBUX
| Q4 25 | 11.6% | 3.3% | ||
| Q3 25 | 6.0% | 4.8% | ||
| Q2 25 | 3.5% | 6.0% | ||
| Q1 25 | 6.6% | 6.7% | ||
| Q4 24 | 5.4% | 7.4% | ||
| Q3 24 | 3.4% | 8.8% | ||
| Q2 24 | 4.5% | 7.9% | ||
| Q1 24 | 6.6% | 7.7% |
现金转化率AALSBUX
| Q4 25 | -2.77× | 5.45× | ||
| Q3 25 | — | 10.38× | ||
| Q2 25 | 1.61× | 1.79× | ||
| Q1 25 | — | 0.76× | ||
| Q4 24 | 0.67× | 2.65× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | 1.57× | 1.58× | ||
| Q1 24 | — | 0.66× |
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% |
SBUX
暂无分部数据
