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美国航空集团（AAL）与SKYWEST INC（SKYW）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SKYWEST INC的13.8倍（$14.0B vs $1.0B）。SKYWEST INC净利率更高（10.0% vs 0.7%，领先9.3%）。SKYWEST INC同比增速更快（6.8% vs 2.5%）。过去两年SKYWEST INC的营收复合增速更高（8.1% 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。
天西航空（SkyWest Inc.）是总部位于美国犹他州圣乔治的控股企业，旗下主营北美支线航空公司天西航空，同时运营飞机租赁业务，是北美区域航空运营领域的重要参与者。
AAL vs SKYW — 直观对比
营收规模更大
AAL
是对方的13.8倍
$1.0B
营收增速更快
SKYW
高出4.3%
2.5%
净利率更高
SKYW
高出9.3%
0.7%
两年增速更快
SKYW
近两年复合增速
5.5%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $14.0B | $1.0B |
| 净利润 | $99.0M | $101.7M |
| 毛利率 | — | — |
| 营业利润率 | 3.2% | 12.2% |
| 净利率 | 0.7% | 10.0% |
| 营收同比 | 2.5% | 6.8% |
| 净利润同比 | -83.2% | 1.1% |
| 每股收益（稀释后） | $0.15 | $2.50 |
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AALSKYW
| Q1 26 | — | $1.0B | ||
| Q4 25 | $14.0B | $1.0B | ||
| Q3 25 | $13.7B | $1.1B | ||
| Q2 25 | $14.4B | $1.0B | ||
| Q1 25 | $12.6B | $948.5M | ||
| Q4 24 | $13.7B | $944.4M | ||
| Q3 24 | $13.6B | $912.8M | ||
| Q2 24 | $14.3B | $867.1M |
净利润AALSKYW
| Q1 26 | — | $101.7M | ||
| Q4 25 | $99.0M | $91.2M | ||
| Q3 25 | $-114.0M | $116.4M | ||
| Q2 25 | $599.0M | $120.3M | ||
| Q1 25 | $-473.0M | $100.6M | ||
| Q4 24 | $590.0M | $97.4M | ||
| Q3 24 | $-149.0M | $89.7M | ||
| Q2 24 | $717.0M | $75.6M |
营业利润率AALSKYW
| Q1 26 | — | 12.2% | ||
| Q4 25 | 3.2% | 13.1% | ||
| Q3 25 | 1.1% | 16.6% | ||
| Q2 25 | 7.9% | 16.4% | ||
| Q1 25 | -2.2% | 14.7% | ||
| Q4 24 | 8.3% | 15.3% | ||
| Q3 24 | 0.7% | 14.4% | ||
| Q2 24 | 9.7% | 13.8% |
净利率AALSKYW
| Q1 26 | — | 10.0% | ||
| Q4 25 | 0.7% | 8.9% | ||
| Q3 25 | -0.8% | 11.1% | ||
| Q2 25 | 4.2% | 11.6% | ||
| Q1 25 | -3.8% | 10.6% | ||
| Q4 24 | 4.3% | 10.3% | ||
| Q3 24 | -1.1% | 9.8% | ||
| Q2 24 | 5.0% | 8.7% |
每股收益（稀释后）AALSKYW
| Q1 26 | — | $2.50 | ||
| Q4 25 | $0.15 | $2.21 | ||
| Q3 25 | $-0.17 | $2.81 | ||
| Q2 25 | $0.91 | $2.91 | ||
| Q1 25 | $-0.72 | $2.42 | ||
| Q4 24 | $0.94 | $2.34 | ||
| Q3 24 | $-0.23 | $2.16 | ||
| Q2 24 | $1.01 | $1.82 |
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 | — | — |
| 总债务越低越好 | $25.3B | $1.8B |
| 股东权益账面价值 | $-3.7B | $2.7B |
| 总资产 | $61.8B | $7.3B |
| 负债/权益比越低杠杆越低 | — | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资AALSKYW
| Q1 26 | — | — | ||
| Q4 25 | — | $122.7M | ||
| Q3 25 | — | $44.5M | ||
| Q2 25 | — | $48.3M | ||
| Q1 25 | — | $179.0M | ||
| Q4 24 | — | $227.4M | ||
| Q3 24 | — | $177.6M | ||
| Q2 24 | — | $141.8M |
总债务AALSKYW
| Q1 26 | — | $1.8B | ||
| Q4 25 | $25.3B | — | ||
| Q3 25 | $25.1B | $2.4B | ||
| Q2 25 | $25.3B | $2.5B | ||
| Q1 25 | $24.7B | $2.6B | ||
| Q4 24 | $25.2B | $2.7B | ||
| Q3 24 | $26.3B | $2.7B | ||
| Q2 24 | $27.6B | $2.8B |
股东权益AALSKYW
| Q1 26 | — | $2.7B | ||
| Q4 25 | $-3.7B | $2.7B | ||
| Q3 25 | $-4.0B | $2.7B | ||
| Q2 25 | $-3.9B | $2.6B | ||
| Q1 25 | $-4.5B | $2.5B | ||
| Q4 24 | $-4.0B | $2.4B | ||
| Q3 24 | $-4.9B | $2.3B | ||
| Q2 24 | $-4.7B | $2.2B |
总资产AALSKYW
| Q1 26 | — | $7.3B | ||
| Q4 25 | $61.8B | $7.4B | ||
| Q3 25 | $62.1B | $7.2B | ||
| Q2 25 | $63.7B | $7.2B | ||
| Q1 25 | $62.6B | $7.1B | ||
| Q4 24 | $61.8B | $7.1B | ||
| Q3 24 | $63.5B | $7.0B | ||
| Q2 24 | $64.1B | $7.0B |
负债/权益比AALSKYW
| Q1 26 | — | 0.66× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.89× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | — | 1.17× | ||
| Q2 24 | — | 1.25× |
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 | — |
| 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% | — |
| 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AALSKYW
| Q1 26 | — | — | ||
| Q4 25 | $-274.0M | $231.5M | ||
| Q3 25 | $-46.0M | $280.8M | ||
| Q2 25 | $963.0M | $257.1M | ||
| Q1 25 | $2.5B | $171.0M | ||
| Q4 24 | $398.0M | $185.9M | ||
| Q3 24 | $277.0M | $183.6M | ||
| Q2 24 | $1.1B | $165.3M |
自由现金流AALSKYW
| Q1 26 | — | — | ||
| Q4 25 | $-1.9B | $224.3M | ||
| Q3 25 | $-872.0M | $269.9M | ||
| Q2 25 | $464.0M | $251.5M | ||
| Q1 25 | $1.6B | $162.6M | ||
| Q4 24 | $-342.0M | $162.7M | ||
| Q3 24 | $-191.0M | $172.1M | ||
| Q2 24 | $477.0M | $159.4M |
自由现金流率AALSKYW
| Q1 26 | — | — | ||
| Q4 25 | -13.6% | 21.9% | ||
| Q3 25 | -6.4% | 25.7% | ||
| Q2 25 | 3.2% | 24.3% | ||
| Q1 25 | 13.0% | 17.1% | ||
| Q4 24 | -2.5% | 17.2% | ||
| Q3 24 | -1.4% | 18.9% | ||
| Q2 24 | 3.3% | 18.4% |
资本支出强度AALSKYW
| Q1 26 | — | — | ||
| Q4 25 | 11.6% | 0.7% | ||
| Q3 25 | 6.0% | 1.0% | ||
| Q2 25 | 3.5% | 0.5% | ||
| Q1 25 | 6.6% | 0.9% | ||
| Q4 24 | 5.4% | 2.5% | ||
| Q3 24 | 3.4% | 1.3% | ||
| Q2 24 | 4.5% | 0.7% |
现金转化率AALSKYW
| Q1 26 | — | — | ||
| Q4 25 | -2.77× | 2.54× | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | 1.61× | 2.14× | ||
| Q1 25 | — | 1.70× | ||
| Q4 24 | 0.67× | 1.91× | ||
| Q3 24 | — | 2.05× | ||
| Q2 24 | 1.57× | 2.19× |
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% |
SKYW
| Flying agreements | $977.9M | 97% |
| Lease, airport services and other | $35.3M | 3% |
