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西联汇款（AFG）与Keurig Dr Pepper（KDP）财务数据对比。点击上方公司名可切换其他公司
Keurig Dr Pepper的季度营收约是西联汇款的1.9倍（$4.0B vs $2.1B），西联汇款净利率更高（14.5% vs 6.8%，领先7.7%），Keurig Dr Pepper同比增速更快（9.4% vs -4.0%），过去两年西联汇款的营收复合增速更高（4.0% vs 0.7%）
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。
Keurig Dr Pepper是美国上市的饮品与咖啡机综合企业，2018年由克里格绿山和胡椒博士斯奈普集团合并成立，在马萨诸塞州伯灵顿及得克萨斯州弗里斯科设有双总部，旗下拥有超125款冷热饮品，加拿大区域业务由当地子公司负责运营。
AFG vs KDP — 直观对比
营收规模更大
KDP
是对方的1.9倍
$2.1B
营收增速更快
KDP
高出13.4%
-4.0%
净利率更高
AFG
高出7.7%
6.8%
两年增速更快
AFG
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $4.0B |
| 净利润 | $299.0M | $270.0M |
| 毛利率 | — | 52.8% |
| 营业利润率 | 18.4% | 19.0% |
| 净利率 | 14.5% | 6.8% |
| 营收同比 | -4.0% | 9.4% |
| 净利润同比 | 17.3% | -47.8% |
| 每股收益（稀释后） | $3.59 | $0.20 |
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AFGKDP
| Q1 26 | — | $4.0B | ||
| Q4 25 | $2.1B | $4.5B | ||
| Q3 25 | $2.3B | $4.3B | ||
| Q2 25 | $1.9B | $4.2B | ||
| Q1 25 | $1.9B | $3.6B | ||
| Q4 24 | $2.1B | $4.1B | ||
| Q3 24 | $2.4B | $3.9B | ||
| Q2 24 | $1.9B | $3.9B |
净利润AFGKDP
| Q1 26 | — | $270.0M | ||
| Q4 25 | $299.0M | $353.0M | ||
| Q3 25 | $215.0M | $662.0M | ||
| Q2 25 | $174.0M | $547.0M | ||
| Q1 25 | $154.0M | $517.0M | ||
| Q4 24 | $255.0M | $-144.0M | ||
| Q3 24 | $181.0M | $616.0M | ||
| Q2 24 | $209.0M | $515.0M |
毛利率AFGKDP
| Q1 26 | — | 52.8% | ||
| Q4 25 | — | 53.8% | ||
| Q3 25 | — | 54.3% | ||
| Q2 25 | — | 54.2% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 55.9% | ||
| Q3 24 | — | 55.0% | ||
| Q2 24 | — | 55.4% |
营业利润率AFGKDP
| Q1 26 | — | 19.0% | ||
| Q4 25 | 18.4% | 19.6% | ||
| Q3 25 | 11.5% | 23.1% | ||
| Q2 25 | 11.9% | 21.6% | ||
| Q1 25 | 10.6% | 22.0% | ||
| Q4 24 | 14.9% | 1.5% | ||
| Q3 24 | 9.7% | 23.2% | ||
| Q2 24 | 14.3% | 22.0% |
净利率AFGKDP
| Q1 26 | — | 6.8% | ||
| Q4 25 | 14.5% | 7.8% | ||
| Q3 25 | 9.2% | 15.4% | ||
| Q2 25 | 9.0% | 13.1% | ||
| Q1 25 | 8.3% | 14.2% | ||
| Q4 24 | 11.9% | -3.5% | ||
| Q3 24 | 7.6% | 15.8% | ||
| Q2 24 | 11.0% | 13.1% |
每股收益（稀释后）AFGKDP
| Q1 26 | — | $0.20 | ||
| Q4 25 | $3.59 | $0.26 | ||
| Q3 25 | $2.58 | $0.49 | ||
| Q2 25 | $2.07 | $0.40 | ||
| Q1 25 | $1.84 | $0.38 | ||
| Q4 24 | $3.03 | $-0.11 | ||
| Q3 24 | $2.16 | $0.45 | ||
| Q2 24 | $2.49 | $0.38 |
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 | $898.0M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $4.8B | $25.3B |
| 总资产 | $32.6B | $73.1B |
| 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AFGKDP
| Q1 26 | — | $898.0M | ||
| Q4 25 | $1.7B | $1.0B | ||
| Q3 25 | $1.8B | $516.0M | ||
| Q2 25 | $1.3B | $509.0M | ||
| Q1 25 | $1.3B | $653.0M | ||
| Q4 24 | $1.4B | $510.0M | ||
| Q3 24 | $1.3B | $552.0M | ||
| Q2 24 | $1.1B | $438.0M |
总债务AFGKDP
| Q1 26 | — | — | ||
| 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 | — |
股东权益AFGKDP
| Q1 26 | — | $25.3B | ||
| Q4 25 | $4.8B | $25.5B | ||
| Q3 25 | $4.7B | $25.3B | ||
| Q2 25 | $4.5B | $25.0B | ||
| Q1 25 | $4.4B | $24.4B | ||
| Q4 24 | $4.5B | $24.2B | ||
| Q3 24 | $4.7B | $25.0B | ||
| Q2 24 | $4.4B | $24.7B |
总资产AFGKDP
| Q1 26 | — | $73.1B | ||
| Q4 25 | $32.6B | $55.5B | ||
| Q3 25 | $33.8B | $54.6B | ||
| Q2 25 | $30.7B | $54.4B | ||
| Q1 25 | $30.3B | $53.7B | ||
| Q4 24 | $30.8B | $53.4B | ||
| Q3 24 | $32.6B | $52.7B | ||
| Q2 24 | $29.9B | $52.3B |
负债/权益比AFGKDP
| Q1 26 | — | — | ||
| 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× | — |
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 | $281.0M |
| 自由现金流经营现金流 - 资本支出 | — | $184.0M |
| 自由现金流率自由现金流/营收 | — | 4.6% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 2.62× | 1.04× |
| 过去12个月自由现金流最近4个季度 | — | $1.6B |
8季度趋势，按日历期对齐
经营现金流AFGKDP
| Q1 26 | — | $281.0M | ||
| Q4 25 | $784.0M | $712.0M | ||
| Q3 25 | $216.0M | $639.0M | ||
| Q2 25 | $191.0M | $431.0M | ||
| Q1 25 | $342.0M | $209.0M | ||
| Q4 24 | $674.0M | $849.0M | ||
| Q3 24 | $459.0M | $628.0M | ||
| Q2 24 | $-88.0M | $657.0M |
自由现金流AFGKDP
| Q1 26 | — | $184.0M | ||
| Q4 25 | — | $564.0M | ||
| Q3 25 | — | $527.0M | ||
| Q2 25 | — | $325.0M | ||
| Q1 25 | — | $89.0M | ||
| Q4 24 | — | $684.0M | ||
| Q3 24 | — | $503.0M | ||
| Q2 24 | — | $542.0M |
自由现金流率AFGKDP
| Q1 26 | — | 4.6% | ||
| Q4 25 | — | 12.5% | ||
| Q3 25 | — | 12.2% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | 12.9% | ||
| Q2 24 | — | 13.8% |
资本支出强度AFGKDP
| Q1 26 | — | — | ||
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 2.9% |
现金转化率AFGKDP
| Q1 26 | — | 1.04× | ||
| Q4 25 | 2.62× | 2.02× | ||
| Q3 25 | 1.00× | 0.97× | ||
| Q2 25 | 1.10× | 0.79× | ||
| Q1 25 | 2.22× | 0.40× | ||
| Q4 24 | 2.64× | — | ||
| Q3 24 | 2.54× | 1.02× | ||
| Q2 24 | -0.42× | 1.28× |
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% |
KDP
| U.S. Refreshment Beverages | $2.6B | 65% |
| U.S. Coffee | $877.0M | 22% |
| International | $435.0M | 11% |
