vs
美国鹰（AEO）与塞拉尼斯（CE）财务数据对比。点击上方公司名可切换其他公司
塞拉尼斯的季度营收约是美国鹰的1.6倍（$2.2B vs $1.4B），美国鹰净利率更高（6.7% vs 0.6%，领先6.1%），美国鹰同比增速更快（5.7% vs -7.0%），塞拉尼斯自由现金流更多（$168.0M vs $-2.5M），过去两年美国鹰的营收复合增速更高（2.3% vs -8.1%）
American Eagle Outfitters是美国知名服饰及配饰零售商，总部位于宾夕法尼亚州匹兹堡市南区工业园。品牌1977年由杰里·西尔弗曼与马克·西尔弗曼兄弟创立，最初为零售风险投资公司的子公司，旗下还运营西尔弗曼男装。1980年创始人向肖滕斯坦家族出售一半股权，1991年售罄剩余股份，目前旗下拥有Aerie、Unsubscribed等多个品牌。
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
AEO vs CE — 直观对比
营收规模更大
CE
是对方的1.6倍
$1.4B
营收增速更快
AEO
高出12.7%
-7.0%
净利率更高
AEO
高出6.1%
0.6%
自由现金流更多
CE
多$170.5M
$-2.5M
两年增速更快
AEO
近两年复合增速
-8.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.2B |
| 净利润 | $91.3M | $14.0M |
| 毛利率 | 40.5% | 19.1% |
| 营业利润率 | 8.3% | 4.0% |
| 净利率 | 6.7% | 0.6% |
| 营收同比 | 5.7% | -7.0% |
| 净利润同比 | 14.2% | 100.7% |
| 每股收益（稀释后） | $0.53 | $0.13 |
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AEOCE
| Q4 25 | $1.4B | $2.2B | ||
| Q3 25 | $1.3B | $2.4B | ||
| Q2 25 | $1.1B | $2.5B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.3B | $2.6B | ||
| Q2 24 | $1.1B | $2.7B | ||
| Q1 24 | $1.7B | $2.6B |
净利润AEOCE
| Q4 25 | $91.3M | $14.0M | ||
| Q3 25 | $77.6M | $-1.4B | ||
| Q2 25 | $-64.9M | $199.0M | ||
| Q1 25 | — | $-21.0M | ||
| Q4 24 | $80.0M | $-1.9B | ||
| Q3 24 | $77.3M | $116.0M | ||
| Q2 24 | $67.8M | $155.0M | ||
| Q1 24 | $6.3M | $121.0M |
毛利率AEOCE
| Q4 25 | 40.5% | 19.1% | ||
| Q3 25 | 38.9% | 21.5% | ||
| Q2 25 | 29.6% | 21.1% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | 40.9% | 22.7% | ||
| Q3 24 | 38.6% | 23.5% | ||
| Q2 24 | 40.6% | 24.2% | ||
| Q1 24 | 36.6% | 21.2% |
营业利润率AEOCE
| Q4 25 | 8.3% | 4.0% | ||
| Q3 25 | 8.0% | -52.7% | ||
| Q2 25 | -7.8% | 9.2% | ||
| Q1 25 | — | 7.0% | ||
| Q4 24 | 8.2% | -59.3% | ||
| Q3 24 | 7.8% | 9.4% | ||
| Q2 24 | 6.8% | 9.4% | ||
| Q1 24 | 0.6% | 8.0% |
净利率AEOCE
| Q4 25 | 6.7% | 0.6% | ||
| Q3 25 | 6.0% | -56.1% | ||
| Q2 25 | -6.0% | 7.9% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | 6.2% | -80.8% | ||
| Q3 24 | 6.0% | 4.4% | ||
| Q2 24 | 5.9% | 5.8% | ||
| Q1 24 | 0.4% | 4.6% |
每股收益（稀释后）AEOCE
| Q4 25 | $0.53 | $0.13 | ||
| Q3 25 | $0.45 | $-12.39 | ||
| Q2 25 | $-0.36 | $1.81 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | $0.41 | $-17.50 | ||
| Q3 24 | $0.39 | $1.06 | ||
| Q2 24 | $0.34 | $1.41 | ||
| Q1 24 | $0.03 | $1.10 |
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 | $112.8M | — |
| 总债务越低越好 | — | $11.4B |
| 股东权益账面价值 | $1.6B | $4.0B |
| 总资产 | $4.2B | $21.7B |
| 负债/权益比越低杠杆越低 | — | 2.81× |
8季度趋势，按日历期对齐
现金及短期投资AEOCE
| Q4 25 | $112.8M | — | ||
| Q3 25 | $126.8M | — | ||
| Q2 25 | $87.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $160.2M | — | ||
| Q3 24 | $191.8M | — | ||
| Q2 24 | $300.5M | — | ||
| Q1 24 | $454.1M | — |
总债务AEOCE
| Q4 25 | — | $11.4B | ||
| Q3 25 | — | $11.7B | ||
| Q2 25 | — | $12.7B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | $0 | $11.1B | ||
| Q3 24 | $0 | $11.3B | ||
| Q2 24 | $0 | $11.1B | ||
| Q1 24 | $0 | $11.0B |
股东权益AEOCE
| Q4 25 | $1.6B | $4.0B | ||
| Q3 25 | $1.5B | $4.0B | ||
| Q2 25 | $1.5B | $5.3B | ||
| Q1 25 | — | $5.2B | ||
| Q4 24 | $1.7B | $5.2B | ||
| Q3 24 | $1.7B | $7.3B | ||
| Q2 24 | $1.8B | $7.2B | ||
| Q1 24 | $1.7B | $7.1B |
总资产AEOCE
| Q4 25 | $4.2B | $21.7B | ||
| Q3 25 | $4.1B | $22.2B | ||
| Q2 25 | $3.8B | $23.7B | ||
| Q1 25 | — | $23.2B | ||
| Q4 24 | $3.7B | $22.9B | ||
| Q3 24 | $3.5B | $25.9B | ||
| Q2 24 | $3.6B | $25.8B | ||
| Q1 24 | $3.6B | $26.0B |
负债/权益比AEOCE
| Q4 25 | — | 2.81× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | 2.39× | ||
| Q4 24 | 0.00× | 2.14× | ||
| Q3 24 | 0.00× | 1.56× | ||
| Q2 24 | 0.00× | 1.54× | ||
| Q1 24 | 0.00× | 1.56× |
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 | $67.1M | $252.0M |
| 自由现金流经营现金流 - 资本支出 | $-2.5M | $168.0M |
| 自由现金流率自由现金流/营收 | -0.2% | 7.6% |
| 资本支出强度资本支出/营收 | 5.1% | 3.8% |
| 现金转化率经营现金流/净利润 | 0.74× | 18.00× |
| 过去12个月自由现金流最近4个季度 | $-169.8M | $803.0M |
8季度趋势，按日历期对齐
经营现金流AEOCE
| Q4 25 | $67.1M | $252.0M | ||
| Q3 25 | $27.8M | $447.0M | ||
| Q2 25 | $-54.7M | $410.0M | ||
| Q1 25 | — | $37.0M | ||
| Q4 24 | $52.9M | $494.0M | ||
| Q3 24 | $78.3M | $79.0M | ||
| Q2 24 | $-38.1M | $292.0M | ||
| Q1 24 | $296.4M | $101.0M |
自由现金流AEOCE
| Q4 25 | $-2.5M | $168.0M | ||
| Q3 25 | $-43.1M | $383.0M | ||
| Q2 25 | $-116.3M | $317.0M | ||
| Q1 25 | — | $-65.0M | ||
| Q4 24 | $-7.8M | $389.0M | ||
| Q3 24 | $17.5M | $-9.0M | ||
| Q2 24 | $-74.3M | $187.0M | ||
| Q1 24 | $256.8M | $-36.0M |
自由现金流率AEOCE
| Q4 25 | -0.2% | 7.6% | ||
| Q3 25 | -3.4% | 15.8% | ||
| Q2 25 | -10.7% | 12.5% | ||
| Q1 25 | — | -2.7% | ||
| Q4 24 | -0.6% | 16.4% | ||
| Q3 24 | 1.4% | -0.3% | ||
| Q2 24 | -6.5% | 7.1% | ||
| Q1 24 | 15.3% | -1.4% |
资本支出强度AEOCE
| Q4 25 | 5.1% | 3.8% | ||
| Q3 25 | 5.5% | 2.6% | ||
| Q2 25 | 5.7% | 3.7% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | 4.7% | 4.4% | ||
| Q3 24 | 4.7% | 3.3% | ||
| Q2 24 | 3.2% | 4.0% | ||
| Q1 24 | 2.4% | 5.2% |
现金转化率AEOCE
| Q4 25 | 0.74× | 18.00× | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 1.01× | 0.68× | ||
| Q2 24 | -0.56× | 1.88× | ||
| Q1 24 | 46.93× | 0.83× |
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
AEO
| American Eagle Brand | $800.4M | 59% |
| Aerie Brand | $429.1M | 31% |
| Other | $133.2M | 10% |
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
