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西联汇款（AFG）与Academy Sports & Outdoors, Inc.（ASO）财务数据对比。点击上方公司名可切换其他公司
西联汇款的季度营收约是Academy Sports & Outdoors, Inc.的1.5倍（$2.1B vs $1.4B），西联汇款净利率更高（14.5% vs 5.2%，领先9.3%），Academy Sports & Outdoors, Inc.同比增速更快（3.0% vs -4.0%），过去两年西联汇款的营收复合增速更高（4.0% vs -12.2%）
西联汇款是总部位于美国科罗拉多州丹佛市的跨国金融服务企业，为全球个人及商业客户提供跨境汇款、支付等多元金融解决方案，在全球绝大多数国家和地区拥有覆盖广泛的服务网络。
Academy Sports & Outdoors是美国知名的运动户外用品连锁零售商，总部位于得克萨斯州哈里斯县，临近休斯顿。品牌曾由戈奇曼家族私有运营74年，2011年被私募机构KKR收购，2020年10月于纳斯达克挂牌上市，旗下门店主营各类运动装备、户外休闲用品等品类。
AFG vs ASO — 直观对比
营收规模更大
AFG
是对方的1.5倍
$1.4B
营收增速更快
ASO
高出7.0%
-4.0%
净利率更高
AFG
高出9.3%
5.2%
两年增速更快
AFG
近两年复合增速
-12.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.4B |
| 净利润 | $299.0M | $71.6M |
| 毛利率 | — | 35.7% |
| 营业利润率 | 18.4% | 7.3% |
| 净利率 | 14.5% | 5.2% |
| 营收同比 | -4.0% | 3.0% |
| 净利润同比 | 17.3% | 8.8% |
| 每股收益（稀释后） | $3.59 | $1.05 |
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AFGASO
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.9B | $1.7B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $1.9B | $1.4B | ||
| Q1 24 | $1.9B | $1.8B |
净利润AFGASO
| Q4 25 | $299.0M | $71.6M | ||
| Q3 25 | $215.0M | $125.4M | ||
| Q2 25 | $174.0M | $46.1M | ||
| Q1 25 | $154.0M | $133.6M | ||
| Q4 24 | $255.0M | $65.8M | ||
| Q3 24 | $181.0M | $142.6M | ||
| Q2 24 | $209.0M | $76.5M | ||
| Q1 24 | $242.0M | $168.2M |
毛利率AFGASO
| Q4 25 | — | 35.7% | ||
| Q3 25 | — | 36.0% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 32.2% | ||
| Q4 24 | — | 34.0% | ||
| Q3 24 | — | 36.1% | ||
| Q2 24 | — | 33.4% | ||
| Q1 24 | — | 33.3% |
营业利润率AFGASO
| Q4 25 | 18.4% | 7.3% | ||
| Q3 25 | 11.5% | 10.8% | ||
| Q2 25 | 11.9% | 5.1% | ||
| Q1 25 | 10.6% | 9.2% | ||
| Q4 24 | 14.9% | 6.8% | ||
| Q3 24 | 9.7% | 12.3% | ||
| Q2 24 | 14.3% | 7.5% | ||
| Q1 24 | 15.9% | 11.4% |
净利率AFGASO
| Q4 25 | 14.5% | 5.2% | ||
| Q3 25 | 9.2% | 7.8% | ||
| Q2 25 | 9.0% | 3.4% | ||
| Q1 25 | 8.3% | 8.0% | ||
| Q4 24 | 11.9% | 4.9% | ||
| Q3 24 | 7.6% | 9.2% | ||
| Q2 24 | 11.0% | 5.6% | ||
| Q1 24 | 12.7% | 9.4% |
每股收益（稀释后）AFGASO
| Q4 25 | $3.59 | $1.05 | ||
| Q3 25 | $2.58 | $1.85 | ||
| Q2 25 | $2.07 | $0.68 | ||
| Q1 25 | $1.84 | $1.85 | ||
| Q4 24 | $3.03 | $0.92 | ||
| Q3 24 | $2.16 | $1.95 | ||
| Q2 24 | $2.49 | $1.01 | ||
| Q1 24 | $2.89 | $2.19 |
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 | $1.7B | $289.5M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $4.8B | $2.1B |
| 总资产 | $32.6B | $5.4B |
| 负债/权益比越低杠杆越低 | 0.38× | — |
8季度趋势，按日历期对齐
现金及短期投资AFGASO
| Q4 25 | $1.7B | $289.5M | ||
| Q3 25 | $1.8B | $300.9M | ||
| Q2 25 | $1.3B | $285.1M | ||
| Q1 25 | $1.3B | $288.9M | ||
| Q4 24 | $1.4B | $296.0M | ||
| Q3 24 | $1.3B | $324.6M | ||
| Q2 24 | $1.1B | $378.1M | ||
| Q1 24 | $1.1B | $347.9M |
总债务AFGASO
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
股东权益AFGASO
| Q4 25 | $4.8B | $2.1B | ||
| Q3 25 | $4.7B | $2.1B | ||
| Q2 25 | $4.5B | $1.9B | ||
| Q1 25 | $4.4B | $2.0B | ||
| Q4 24 | $4.5B | $2.0B | ||
| Q3 24 | $4.7B | $2.0B | ||
| Q2 24 | $4.4B | $1.9B | ||
| Q1 24 | $4.2B | $2.0B |
总资产AFGASO
| Q4 25 | $32.6B | $5.4B | ||
| Q3 25 | $33.8B | $5.3B | ||
| Q2 25 | $30.7B | $5.2B | ||
| Q1 25 | $30.3B | $4.9B | ||
| Q4 24 | $30.8B | $5.1B | ||
| Q3 24 | $32.6B | $4.9B | ||
| Q2 24 | $29.9B | $4.9B | ||
| Q1 24 | $30.0B | $4.7B |
负债/权益比AFGASO
| Q4 25 | 0.38× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 0.35× | — |
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 | $784.0M | $49.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-13.6M |
| 自由现金流率自由现金流/营收 | — | -1.0% |
| 资本支出强度资本支出/营收 | — | 4.5% |
| 现金转化率经营现金流/净利润 | 2.62× | 0.68× |
| 过去12个月自由现金流最近4个季度 | — | $191.4M |
8季度趋势，按日历期对齐
经营现金流AFGASO
| Q4 25 | $784.0M | $49.0M | ||
| Q3 25 | $216.0M | $78.6M | ||
| Q2 25 | $191.0M | $157.5M | ||
| Q1 25 | $342.0M | $140.2M | ||
| Q4 24 | $674.0M | $96.9M | ||
| Q3 24 | $459.0M | $91.3M | ||
| Q2 24 | $-88.0M | $199.7M | ||
| Q1 24 | $107.0M | $234.7M |
自由现金流AFGASO
| Q4 25 | — | $-13.6M | ||
| Q3 25 | — | $21.8M | ||
| Q2 25 | — | $106.6M | ||
| Q1 25 | — | $76.4M | ||
| Q4 24 | — | $34.4M | ||
| Q3 24 | — | $50.1M | ||
| Q2 24 | — | $167.4M | ||
| Q1 24 | — | $178.9M |
自由现金流率AFGASO
| Q4 25 | — | -1.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 12.3% | ||
| Q1 24 | — | 10.0% |
资本支出强度AFGASO
| Q4 25 | — | 4.5% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 3.1% |
现金转化率AFGASO
| Q4 25 | 2.62× | 0.68× | ||
| Q3 25 | 1.00× | 0.63× | ||
| Q2 25 | 1.10× | 3.42× | ||
| Q1 25 | 2.22× | 1.05× | ||
| Q4 24 | 2.64× | 1.47× | ||
| Q3 24 | 2.54× | 0.64× | ||
| Q2 24 | -0.42× | 2.61× | ||
| Q1 24 | 0.44× | 1.40× |
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
AFG
| Property And Casualty Insurance | $2.0B | 96% |
| Other | $83.0M | 4% |
ASO
| Outdoors | $445.1M | 32% |
| Apparel | $349.8M | 25% |
| Footwear | $292.4M | 21% |
| Sports And Recreation | $288.7M | 21% |
| Other | $7.6M | 1% |
