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西联汇款（AFG）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西联汇款的1.1倍（$2.2B vs $2.1B），西联汇款净利率更高（14.5% vs 0.6%，领先13.9%），西联汇款同比增速更快（-4.0% vs -7.0%），过去两年西联汇款的营收复合增速更高（4.0% vs -8.1%）
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。
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。
AFG vs CE — 直观对比
营收规模更大
CE
是对方的1.1倍
$2.1B
营收增速更快
AFG
高出3.0%
-7.0%
净利率更高
AFG
高出13.9%
0.6%
两年增速更快
AFG
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.2B |
| 净利润 | $299.0M | $14.0M |
| 毛利率 | — | 19.1% |
| 营业利润率 | 18.4% | 4.0% |
| 净利率 | 14.5% | 0.6% |
| 营收同比 | -4.0% | -7.0% |
| 净利润同比 | 17.3% | 100.7% |
| 每股收益（稀释后） | $3.59 | $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AFGCE
| Q4 25 | $2.1B | $2.2B | ||
| Q3 25 | $2.3B | $2.4B | ||
| Q2 25 | $1.9B | $2.5B | ||
| Q1 25 | $1.9B | $2.4B | ||
| Q4 24 | $2.1B | $2.4B | ||
| Q3 24 | $2.4B | $2.6B | ||
| Q2 24 | $1.9B | $2.7B | ||
| Q1 24 | $1.9B | $2.6B |
净利润AFGCE
| Q4 25 | $299.0M | $14.0M | ||
| Q3 25 | $215.0M | $-1.4B | ||
| Q2 25 | $174.0M | $199.0M | ||
| Q1 25 | $154.0M | $-21.0M | ||
| Q4 24 | $255.0M | $-1.9B | ||
| Q3 24 | $181.0M | $116.0M | ||
| Q2 24 | $209.0M | $155.0M | ||
| Q1 24 | $242.0M | $121.0M |
毛利率AFGCE
| Q4 25 | — | 19.1% | ||
| Q3 25 | — | 21.5% | ||
| Q2 25 | — | 21.1% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | — | 22.7% | ||
| Q3 24 | — | 23.5% | ||
| Q2 24 | — | 24.2% | ||
| Q1 24 | — | 21.2% |
营业利润率AFGCE
| Q4 25 | 18.4% | 4.0% | ||
| Q3 25 | 11.5% | -52.7% | ||
| Q2 25 | 11.9% | 9.2% | ||
| Q1 25 | 10.6% | 7.0% | ||
| Q4 24 | 14.9% | -59.3% | ||
| Q3 24 | 9.7% | 9.4% | ||
| Q2 24 | 14.3% | 9.4% | ||
| Q1 24 | 15.9% | 8.0% |
净利率AFGCE
| Q4 25 | 14.5% | 0.6% | ||
| Q3 25 | 9.2% | -56.1% | ||
| Q2 25 | 9.0% | 7.9% | ||
| Q1 25 | 8.3% | -0.9% | ||
| Q4 24 | 11.9% | -80.8% | ||
| Q3 24 | 7.6% | 4.4% | ||
| Q2 24 | 11.0% | 5.8% | ||
| Q1 24 | 12.7% | 4.6% |
每股收益（稀释后）AFGCE
| Q4 25 | $3.59 | $0.13 | ||
| Q3 25 | $2.58 | $-12.39 | ||
| Q2 25 | $2.07 | $1.81 | ||
| Q1 25 | $1.84 | $-0.19 | ||
| Q4 24 | $3.03 | $-17.50 | ||
| Q3 24 | $2.16 | $1.06 | ||
| Q2 24 | $2.49 | $1.41 | ||
| Q1 24 | $2.89 | $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 | $1.7B | — |
| 总债务越低越好 | $1.8B | $11.4B |
| 股东权益账面价值 | $4.8B | $4.0B |
| 总资产 | $32.6B | $21.7B |
| 负债/权益比越低杠杆越低 | 0.38× | 2.81× |
8季度趋势，按日历期对齐
现金及短期投资AFGCE
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
总债务AFGCE
| Q4 25 | $1.8B | $11.4B | ||
| Q3 25 | $1.8B | $11.7B | ||
| Q2 25 | $1.5B | $12.7B | ||
| Q1 25 | $1.5B | $12.4B | ||
| Q4 24 | $1.5B | $11.1B | ||
| Q3 24 | $1.5B | $11.3B | ||
| Q2 24 | $1.5B | $11.1B | ||
| Q1 24 | $1.5B | $11.0B |
股东权益AFGCE
| Q4 25 | $4.8B | $4.0B | ||
| Q3 25 | $4.7B | $4.0B | ||
| Q2 25 | $4.5B | $5.3B | ||
| Q1 25 | $4.4B | $5.2B | ||
| Q4 24 | $4.5B | $5.2B | ||
| Q3 24 | $4.7B | $7.3B | ||
| Q2 24 | $4.4B | $7.2B | ||
| Q1 24 | $4.2B | $7.1B |
总资产AFGCE
| Q4 25 | $32.6B | $21.7B | ||
| Q3 25 | $33.8B | $22.2B | ||
| Q2 25 | $30.7B | $23.7B | ||
| Q1 25 | $30.3B | $23.2B | ||
| Q4 24 | $30.8B | $22.9B | ||
| Q3 24 | $32.6B | $25.9B | ||
| Q2 24 | $29.9B | $25.8B | ||
| Q1 24 | $30.0B | $26.0B |
负债/权益比AFGCE
| Q4 25 | 0.38× | 2.81× | ||
| Q3 25 | 0.38× | 2.95× | ||
| Q2 25 | 0.33× | 2.41× | ||
| Q1 25 | 0.34× | 2.39× | ||
| Q4 24 | 0.33× | 2.14× | ||
| Q3 24 | 0.31× | 1.56× | ||
| Q2 24 | 0.34× | 1.54× | ||
| Q1 24 | 0.35× | 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 | $784.0M | $252.0M |
| 自由现金流经营现金流 - 资本支出 | — | $168.0M |
| 自由现金流率自由现金流/营收 | — | 7.6% |
| 资本支出强度资本支出/营收 | — | 3.8% |
| 现金转化率经营现金流/净利润 | 2.62× | 18.00× |
| 过去12个月自由现金流最近4个季度 | — | $803.0M |
8季度趋势，按日历期对齐
经营现金流AFGCE
| Q4 25 | $784.0M | $252.0M | ||
| Q3 25 | $216.0M | $447.0M | ||
| Q2 25 | $191.0M | $410.0M | ||
| Q1 25 | $342.0M | $37.0M | ||
| Q4 24 | $674.0M | $494.0M | ||
| Q3 24 | $459.0M | $79.0M | ||
| Q2 24 | $-88.0M | $292.0M | ||
| Q1 24 | $107.0M | $101.0M |
自由现金流AFGCE
| Q4 25 | — | $168.0M | ||
| Q3 25 | — | $383.0M | ||
| Q2 25 | — | $317.0M | ||
| Q1 25 | — | $-65.0M | ||
| Q4 24 | — | $389.0M | ||
| Q3 24 | — | $-9.0M | ||
| Q2 24 | — | $187.0M | ||
| Q1 24 | — | $-36.0M |
自由现金流率AFGCE
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 15.8% | ||
| Q2 25 | — | 12.5% | ||
| Q1 25 | — | -2.7% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | -0.3% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | -1.4% |
资本支出强度AFGCE
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | — | 5.2% |
现金转化率AFGCE
| Q4 25 | 2.62× | 18.00× | ||
| Q3 25 | 1.00× | — | ||
| Q2 25 | 1.10× | 2.06× | ||
| Q1 25 | 2.22× | — | ||
| Q4 24 | 2.64× | — | ||
| Q3 24 | 2.54× | 0.68× | ||
| Q2 24 | -0.42× | 1.88× | ||
| Q1 24 | 0.44× | 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
AFG
| Property And Casualty Insurance | $2.0B | 96% |
| Other | $83.0M | 4% |
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
