vs
美国鹰（AEO）与Coinbase（COIN）财务数据对比。点击上方公司名可切换其他公司
Coinbase的季度营收约是美国鹰的1.3倍（$1.8B vs $1.4B），美国鹰净利率更高（6.7% vs -37.4%，领先44.1%），美国鹰同比增速更快（5.7% vs -21.6%），过去两年Coinbase的营收复合增速更高（4.3% vs 2.3%）
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。
Coinbase是美国知名加密货币交易所，2012年由布莱恩·阿姆斯特朗与弗雷德·埃尔萨姆联合创立。截至2024年，平台拥有超1亿用户，业务覆盖100多个国家，是美国最大加密货币交易所、全球最大比特币托管机构，托管总资产近5160亿美元，持有约12%的流通比特币及11%的质押以太币。
AEO vs COIN — 直观对比
营收规模更大
COIN
是对方的1.3倍
$1.4B
营收增速更快
AEO
高出27.3%
-21.6%
净利率更高
AEO
高出44.1%
-37.4%
两年增速更快
COIN
近两年复合增速
2.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.8B |
| 净利润 | $91.3M | $-666.7M |
| 毛利率 | 40.5% | — |
| 营业利润率 | 8.3% | 15.4% |
| 净利率 | 6.7% | -37.4% |
| 营收同比 | 5.7% | -21.6% |
| 净利润同比 | 14.2% | -151.6% |
| 每股收益（稀释后） | $0.53 | $-2.43 |
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AEOCOIN
| Q4 25 | $1.4B | $1.8B | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $1.1B | $1.5B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.1B | $1.4B | ||
| Q1 24 | $1.7B | $1.6B |
净利润AEOCOIN
| Q4 25 | $91.3M | $-666.7M | ||
| Q3 25 | $77.6M | $432.6M | ||
| Q2 25 | $-64.9M | $1.4B | ||
| Q1 25 | — | $65.6M | ||
| Q4 24 | $80.0M | $1.3B | ||
| Q3 24 | $77.3M | $75.5M | ||
| Q2 24 | $67.8M | $36.1M | ||
| Q1 24 | $6.3M | $1.2B |
毛利率AEOCOIN
| Q4 25 | 40.5% | — | ||
| Q3 25 | 38.9% | — | ||
| Q2 25 | 29.6% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 38.6% | — | ||
| Q2 24 | 40.6% | — | ||
| Q1 24 | 36.6% | — |
营业利润率AEOCOIN
| Q4 25 | 8.3% | 15.4% | ||
| Q3 25 | 8.0% | 25.7% | ||
| Q2 25 | -7.8% | -1.6% | ||
| Q1 25 | — | 34.7% | ||
| Q4 24 | 8.2% | 45.5% | ||
| Q3 24 | 7.8% | 14.1% | ||
| Q2 24 | 6.8% | 23.7% | ||
| Q1 24 | 0.6% | 46.4% |
净利率AEOCOIN
| Q4 25 | 6.7% | -37.4% | ||
| Q3 25 | 6.0% | 23.1% | ||
| Q2 25 | -6.0% | 95.4% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | 6.2% | 56.8% | ||
| Q3 24 | 6.0% | 6.3% | ||
| Q2 24 | 5.9% | 2.5% | ||
| Q1 24 | 0.4% | 71.8% |
每股收益（稀释后）AEOCOIN
| Q4 25 | $0.53 | $-2.43 | ||
| Q3 25 | $0.45 | $1.50 | ||
| Q2 25 | $-0.36 | $5.14 | ||
| Q1 25 | — | $0.24 | ||
| Q4 24 | $0.41 | $4.66 | ||
| Q3 24 | $0.39 | $0.28 | ||
| Q2 24 | $0.34 | $0.14 | ||
| Q1 24 | $0.03 | $4.40 |
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 | $11.6B |
| 总债务越低越好 | — | $7.2B |
| 股东权益账面价值 | $1.6B | $14.8B |
| 总资产 | $4.2B | $29.7B |
| 负债/权益比越低杠杆越低 | — | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资AEOCOIN
| Q4 25 | $112.8M | $11.6B | ||
| Q3 25 | $126.8M | $9.8B | ||
| Q2 25 | $87.9M | $7.5B | ||
| Q1 25 | — | $8.1B | ||
| Q4 24 | $160.2M | $8.5B | ||
| Q3 24 | $191.8M | $7.7B | ||
| Q2 24 | $300.5M | $7.2B | ||
| Q1 24 | $454.1M | $6.7B |
总债务AEOCOIN
| Q4 25 | — | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | $0 | $4.2B | ||
| Q3 24 | $0 | $4.2B | ||
| Q2 24 | $0 | $4.2B | ||
| Q1 24 | $0 | $4.2B |
股东权益AEOCOIN
| Q4 25 | $1.6B | $14.8B | ||
| Q3 25 | $1.5B | $16.0B | ||
| Q2 25 | $1.5B | $12.1B | ||
| Q1 25 | — | $10.5B | ||
| Q4 24 | $1.7B | $10.3B | ||
| Q3 24 | $1.7B | $8.7B | ||
| Q2 24 | $1.8B | $8.4B | ||
| Q1 24 | $1.7B | $8.1B |
总资产AEOCOIN
| Q4 25 | $4.2B | $29.7B | ||
| Q3 25 | $4.1B | $31.4B | ||
| Q2 25 | $3.8B | $23.5B | ||
| Q1 25 | — | $21.7B | ||
| Q4 24 | $3.7B | $22.5B | ||
| Q3 24 | $3.5B | $290.6B | ||
| Q2 24 | $3.6B | $287.0B | ||
| Q1 24 | $3.6B | $348.0B |
负债/权益比AEOCOIN
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | 0.00× | 0.41× | ||
| Q3 24 | 0.00× | 0.48× | ||
| Q2 24 | 0.00× | 0.51× | ||
| Q1 24 | 0.00× | 0.52× |
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 | $3.1B |
| 自由现金流经营现金流 - 资本支出 | $-2.5M | — |
| 自由现金流率自由现金流/营收 | -0.2% | — |
| 资本支出强度资本支出/营收 | 5.1% | — |
| 现金转化率经营现金流/净利润 | 0.74× | — |
| 过去12个月自由现金流最近4个季度 | $-169.8M | — |
8季度趋势，按日历期对齐
经营现金流AEOCOIN
| Q4 25 | $67.1M | $3.1B | ||
| Q3 25 | $27.8M | $-784.5M | ||
| Q2 25 | $-54.7M | $328.5M | ||
| Q1 25 | — | $-182.7M | ||
| Q4 24 | $52.9M | $964.6M | ||
| Q3 24 | $78.3M | $696.5M | ||
| Q2 24 | $-38.1M | $484.2M | ||
| Q1 24 | $296.4M | $411.5M |
自由现金流AEOCOIN
| Q4 25 | $-2.5M | — | ||
| Q3 25 | $-43.1M | — | ||
| Q2 25 | $-116.3M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-7.8M | — | ||
| Q3 24 | $17.5M | — | ||
| Q2 24 | $-74.3M | — | ||
| Q1 24 | $256.8M | — |
自由现金流率AEOCOIN
| Q4 25 | -0.2% | — | ||
| Q3 25 | -3.4% | — | ||
| Q2 25 | -10.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.6% | — | ||
| Q3 24 | 1.4% | — | ||
| Q2 24 | -6.5% | — | ||
| Q1 24 | 15.3% | — |
资本支出强度AEOCOIN
| Q4 25 | 5.1% | — | ||
| Q3 25 | 5.5% | — | ||
| Q2 25 | 5.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | 4.7% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 2.4% | — |
现金转化率AEOCOIN
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.36× | -1.81× | ||
| Q2 25 | — | 0.23× | ||
| Q1 25 | — | -2.79× | ||
| Q4 24 | 0.66× | 0.75× | ||
| Q3 24 | 1.01× | 9.23× | ||
| Q2 24 | -0.56× | 13.39× | ||
| Q1 24 | 46.93× | 0.35× |
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% |
COIN
| Bank Servicing Consumer Net | $733.9M | 41% |
| Subscription And Circulation | $727.4M | 41% |
| Bank Servicing Institutional | $185.0M | 10% |
| Other Revenue | $71.1M | 4% |
| Bank Servicing Other | $63.8M | 4% |
| Related Party | $1.3M | 0% |
