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艾地盟（ADM）与阿里巴巴集团控股有限公司（BABA）财务数据对比。点击上方公司名可切换其他公司
阿里巴巴集团控股有限公司的季度营收约是艾地盟的1.9倍（$38.8B vs $20.5B），阿里巴巴集团控股有限公司净利率更高（5.8% vs 1.5%，领先4.3%）
艾地盟（ADM）是美国跨国食品加工与大宗商品贸易企业，1902年成立，总部位于伊利诺伊州芝加哥。集团在全球布局270多家加工厂及420多个农作物采购站点，将谷物、油籽加工为食品、饮料、营养保健、工业生产及动物饲料领域的各类产品，供应全球市场。
阿里巴巴集团控股有限公司是1999年6月28日于浙江杭州创立的中国跨国科技企业，核心业务覆盖电商、零售、互联网及科技领域，运营面向中国及全球市场的C2C、B2C、B2B交易平台，同时提供本地生活服务、数字媒体娱乐、物流、云计算等多元服务，服务全球海量消费者与企业客户。
ADM vs BABA — 直观对比
营收规模更大
BABA
是对方的1.9倍
$20.5B
净利率更高
BABA
高出4.3%
1.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $20.5B | $38.8B |
| 净利润 | $298.0M | $2.2B |
| 毛利率 | 6.0% | 40.2% |
| 营业利润率 | — | 6.6% |
| 净利率 | 1.5% | 5.8% |
| 营收同比 | 1.6% | — |
| 净利润同比 | 1.0% | — |
| 每股收益（稀释后） | $0.62 | $6.64 |
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ADMBABA
| Q1 26 | $20.5B | — | ||
| Q4 25 | $6.1B | $38.8B | ||
| Q3 25 | $6.4B | $34.2B | ||
| Q2 25 | $6.3B | $32.6B | ||
| Q1 25 | $6.1B | — | ||
| Q4 24 | $-25.7B | $38.7B | ||
| Q3 24 | $6.0B | — | ||
| Q2 24 | $22.2B | — |
净利润ADMBABA
| Q1 26 | $298.0M | — | ||
| Q4 25 | $456.0M | $2.2B | ||
| Q3 25 | $108.0M | $2.9B | ||
| Q2 25 | $219.0M | $1.7B | ||
| Q1 25 | $295.0M | — | ||
| Q4 24 | $567.0M | $6.8B | ||
| Q3 24 | $18.0M | — | ||
| Q2 24 | $486.0M | — |
毛利率ADMBABA
| Q1 26 | 6.0% | — | ||
| Q4 25 | 20.0% | 40.2% | ||
| Q3 25 | 19.8% | 39.2% | ||
| Q2 25 | 21.6% | 38.4% | ||
| Q1 25 | 19.2% | — | ||
| Q4 24 | — | 42.0% | ||
| Q3 24 | 22.8% | — | ||
| Q2 24 | 6.3% | — |
营业利润率ADMBABA
| Q1 26 | — | — | ||
| Q4 25 | 7.9% | 6.6% | ||
| Q3 25 | 2.3% | 2.2% | ||
| Q2 25 | 4.4% | 12.0% | ||
| Q1 25 | 5.7% | — | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 2.7% | — |
净利率ADMBABA
| Q1 26 | 1.5% | — | ||
| Q4 25 | 7.5% | 5.8% | ||
| Q3 25 | 1.7% | 8.5% | ||
| Q2 25 | 3.5% | 5.3% | ||
| Q1 25 | 4.8% | — | ||
| Q4 24 | -2.2% | 17.5% | ||
| Q3 24 | 0.3% | — | ||
| Q2 24 | 2.2% | — |
每股收益（稀释后）ADMBABA
| Q1 26 | $0.62 | — | ||
| Q4 25 | $0.95 | $6.64 | ||
| Q3 25 | $0.22 | $8.72 | ||
| Q2 25 | $0.45 | $5.20 | ||
| Q1 25 | $0.61 | — | ||
| Q4 24 | $1.21 | $20.40 | ||
| Q3 24 | $0.04 | — | ||
| Q2 24 | $0.98 | — |
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 | $591.0M | $18.3B |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $22.8B | $148.7B |
| 总资产 | — | $268.6B |
| 负债/权益比越低杠杆越低 | 0.08× | — |
8季度趋势，按日历期对齐
现金及短期投资ADMBABA
| Q1 26 | $591.0M | — | ||
| Q4 25 | $1.0B | $18.3B | ||
| Q3 25 | $1.2B | $19.0B | ||
| Q2 25 | $1.1B | $20.0B | ||
| Q1 25 | $864.0M | — | ||
| Q4 24 | $611.0M | $22.3B | ||
| Q3 24 | $784.0M | — | ||
| Q2 24 | $764.0M | — |
总债务ADMBABA
| Q1 26 | $1.7B | — | ||
| Q4 25 | $7.6B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.3B | — | ||
| Q3 24 | $7.6B | — | ||
| Q2 24 | — | — |
股东权益ADMBABA
| Q1 26 | $22.8B | — | ||
| Q4 25 | $22.7B | $148.7B | ||
| Q3 25 | $22.5B | $145.0B | ||
| Q2 25 | $22.4B | $139.2B | ||
| Q1 25 | $22.1B | — | ||
| Q4 24 | $22.2B | $137.2B | ||
| Q3 24 | $22.0B | — | ||
| Q2 24 | $22.2B | — |
总资产ADMBABA
| Q1 26 | — | — | ||
| Q4 25 | $52.4B | $268.6B | ||
| Q3 25 | $51.9B | $264.6B | ||
| Q2 25 | $52.0B | $248.6B | ||
| Q1 25 | $53.4B | — | ||
| Q4 24 | $53.3B | $254.1B | ||
| Q3 24 | $52.2B | — | ||
| Q2 24 | $52.7B | — |
负债/权益比ADMBABA
| Q1 26 | 0.08× | — | ||
| Q4 25 | 0.33× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.37× | — | ||
| Q3 24 | 0.35× | — | ||
| 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 | — | $5.2B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | — | 2.31× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ADMBABA
| Q1 26 | — | — | ||
| Q4 25 | $-313.0M | $5.2B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $4.3B | $3.8B | ||
| Q1 25 | $-342.0M | — | ||
| Q4 24 | $322.0M | $9.7B | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $468.0M | — |
自由现金流ADMBABA
| Q1 26 | — | — | ||
| Q4 25 | $-669.0M | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $-633.0M | — | ||
| Q4 24 | $-170.0M | — | ||
| Q3 24 | $919.0M | — | ||
| Q2 24 | $106.0M | — |
自由现金流率ADMBABA
| Q1 26 | — | — | ||
| Q4 25 | -11.1% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 63.0% | — | ||
| Q1 25 | -10.3% | — | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 15.3% | — | ||
| Q2 24 | 0.5% | — |
资本支出强度ADMBABA
| Q1 26 | 0.9% | — | ||
| Q4 25 | 5.9% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | -1.9% | — | ||
| Q3 24 | 6.4% | — | ||
| Q2 24 | 1.6% | — |
现金转化率ADMBABA
| Q1 26 | — | — | ||
| Q4 25 | -0.69× | 2.31× | ||
| Q3 25 | 16.75× | 0.49× | ||
| Q2 25 | 19.63× | 2.19× | ||
| Q1 25 | -1.16× | — | ||
| Q4 24 | 0.57× | 1.43× | ||
| Q3 24 | 72.22× | — | ||
| Q2 24 | 0.96× | — |
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
ADM
| Ag Services and Oilseeds | $16.0B | 78% |
| Carbohydrate Solutions | $2.6B | 12% |
| Nutrition | $1.8B | 9% |
BABA
| Alibaba China E-commerce Group | $22.8B | 59% |
| All others | $9.6B | 25% |
| Cloud Intelligence Group | $6.2B | 16% |
