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美国航空集团（AAL）与Smurfit Westrock（SW）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Smurfit Westrock的1.8倍（$14.0B vs $7.7B），Smurfit Westrock净利率更高（0.8% vs 0.7%，领先0.1%），美国航空集团同比增速更快（2.5% vs 0.7%），过去两年Smurfit Westrock的营收复合增速更高（61.2% 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。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
AAL vs SW — 直观对比
营收规模更大
AAL
是对方的1.8倍
$7.7B
营收增速更快
AAL
高出1.8%
0.7%
净利率更高
SW
高出0.1%
0.7%
两年增速更快
SW
近两年复合增速
5.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $14.0B | $7.7B |
| 净利润 | $99.0M | $63.0M |
| 毛利率 | — | 16.4% |
| 营业利润率 | 3.2% | 3.3% |
| 净利率 | 0.7% | 0.8% |
| 营收同比 | 2.5% | 0.7% |
| 净利润同比 | -83.2% | 0.0% |
| 每股收益（稀释后） | $0.15 | $0.12 |
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AALSW
| Q1 26 | — | $7.7B | ||
| Q4 25 | $14.0B | $7.6B | ||
| Q3 25 | $13.7B | $8.0B | ||
| Q2 25 | $14.4B | $7.9B | ||
| Q1 25 | $12.6B | $7.7B | ||
| Q4 24 | $13.7B | $7.5B | ||
| Q3 24 | $13.6B | $7.7B | ||
| Q2 24 | $14.3B | $3.0B |
净利润AALSW
| Q1 26 | — | $63.0M | ||
| Q4 25 | $99.0M | $97.0M | ||
| Q3 25 | $-114.0M | $246.0M | ||
| Q2 25 | $599.0M | $-28.0M | ||
| Q1 25 | $-473.0M | $384.0M | ||
| Q4 24 | $590.0M | $146.0M | ||
| Q3 24 | $-149.0M | $-150.0M | ||
| Q2 24 | $717.0M | $132.0M |
毛利率AALSW
| Q1 26 | — | 16.4% | ||
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% |
营业利润率AALSW
| Q1 26 | — | 3.3% | ||
| Q4 25 | 3.2% | 5.1% | ||
| Q3 25 | 1.1% | 6.6% | ||
| Q2 25 | 7.9% | 3.2% | ||
| Q1 25 | -2.2% | 7.2% | ||
| Q4 24 | 8.3% | 5.3% | ||
| Q3 24 | 0.7% | 0.7% | ||
| Q2 24 | 9.7% | 8.2% |
净利率AALSW
| Q1 26 | — | 0.8% | ||
| Q4 25 | 0.7% | 1.3% | ||
| Q3 25 | -0.8% | 3.1% | ||
| Q2 25 | 4.2% | -0.4% | ||
| Q1 25 | -3.8% | 5.0% | ||
| Q4 24 | 4.3% | 1.9% | ||
| Q3 24 | -1.1% | -2.0% | ||
| Q2 24 | 5.0% | 4.4% |
每股收益（稀释后）AALSW
| Q1 26 | — | $0.12 | ||
| Q4 25 | $0.15 | $0.18 | ||
| Q3 25 | $-0.17 | $0.47 | ||
| Q2 25 | $0.91 | $-0.05 | ||
| Q1 25 | $-0.72 | $0.73 | ||
| Q4 24 | $0.94 | $-0.12 | ||
| Q3 24 | $-0.23 | $-0.30 | ||
| Q2 24 | $1.01 | $0.51 |
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 | $980.0M |
| 股东权益账面价值 | $-3.7B | $18.1B |
| 总资产 | $61.8B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资AALSW
| Q1 26 | — | — | ||
| Q4 25 | — | $892.0M | ||
| Q3 25 | — | $851.0M | ||
| Q2 25 | — | $778.0M | ||
| Q1 25 | — | $797.0M | ||
| Q4 24 | — | $855.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $26.8K |
总债务AALSW
| Q1 26 | — | $980.0M | ||
| Q4 25 | $25.3B | $13.4B | ||
| Q3 25 | $25.1B | $13.3B | ||
| Q2 25 | $25.3B | $13.3B | ||
| Q1 25 | $24.7B | $12.9B | ||
| Q4 24 | $25.2B | $12.5B | ||
| Q3 24 | $26.3B | $13.2B | ||
| Q2 24 | $27.6B | — |
股东权益AALSW
| Q1 26 | — | $18.1B | ||
| Q4 25 | $-3.7B | $18.3B | ||
| Q3 25 | $-4.0B | $18.4B | ||
| Q2 25 | $-3.9B | $18.3B | ||
| Q1 25 | $-4.5B | $17.9B | ||
| Q4 24 | $-4.0B | $17.4B | ||
| Q3 24 | $-4.9B | $18.0B | ||
| Q2 24 | $-4.7B | $14.5K |
总资产AALSW
| Q1 26 | — | $45.2B | ||
| Q4 25 | $61.8B | $45.2B | ||
| Q3 25 | $62.1B | $45.6B | ||
| Q2 25 | $63.7B | $45.7B | ||
| Q1 25 | $62.6B | $44.6B | ||
| Q4 24 | $61.8B | $43.8B | ||
| Q3 24 | $63.5B | $45.0B | ||
| Q2 24 | $64.1B | $26.8K |
负债/权益比AALSW
| Q1 26 | — | 0.05× | ||
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.73× | ||
| Q2 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 | $204.0M |
| 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× | 3.24× |
| 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AALSW
| Q1 26 | — | $204.0M | ||
| Q4 25 | $-274.0M | $1.2B | ||
| Q3 25 | $-46.0M | $1.1B | ||
| Q2 25 | $963.0M | $829.0M | ||
| Q1 25 | $2.5B | $235.0M | ||
| Q4 24 | $398.0M | $781.0M | ||
| Q3 24 | $277.0M | $320.0M | ||
| Q2 24 | $1.1B | $340.0M |
自由现金流AALSW
| Q1 26 | — | — | ||
| Q4 25 | $-1.9B | $612.0M | ||
| Q3 25 | $-872.0M | $523.0M | ||
| Q2 25 | $464.0M | $307.0M | ||
| Q1 25 | $1.6B | $-242.0M | ||
| Q4 24 | $-342.0M | $212.0M | ||
| Q3 24 | $-191.0M | $-192.0M | ||
| Q2 24 | $477.0M | $163.0M |
自由现金流率AALSW
| Q1 26 | — | — | ||
| Q4 25 | -13.6% | 8.1% | ||
| Q3 25 | -6.4% | 6.5% | ||
| Q2 25 | 3.2% | 3.9% | ||
| Q1 25 | 13.0% | -3.2% | ||
| Q4 24 | -2.5% | 2.8% | ||
| Q3 24 | -1.4% | -2.5% | ||
| Q2 24 | 3.3% | 5.5% |
资本支出强度AALSW
| Q1 26 | — | — | ||
| Q4 25 | 11.6% | 7.7% | ||
| Q3 25 | 6.0% | 7.6% | ||
| Q2 25 | 3.5% | 6.6% | ||
| Q1 25 | 6.6% | 6.2% | ||
| Q4 24 | 5.4% | 7.5% | ||
| Q3 24 | 3.4% | 6.7% | ||
| Q2 24 | 4.5% | 6.0% |
现金转化率AALSW
| Q1 26 | — | 3.24× | ||
| Q4 25 | -2.77× | 12.32× | ||
| Q3 25 | — | 4.61× | ||
| Q2 25 | 1.61× | — | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | 0.67× | 5.35× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.57× | 2.58× |
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% |
SW
暂无分部数据
