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Aflac（AFL）与金宝汤（CPB）财务数据对比。点击上方公司名可切换其他公司
Aflac的季度营收约是金宝汤的1.8倍（$4.9B vs $2.7B），Aflac净利率更高（28.3% vs 7.2%，领先21.1%），金宝汤同比增速更快（-3.4% vs -10.0%），过去两年金宝汤的营收复合增速更高（4.4% vs -5.4%）
Aflac是美国知名保险企业，也是美国最大的补充保险提供商，成立于1955年，总部位于佐治亚州哥伦布市。公司在美国推出多类保险产品，其中薪资抵扣型保险服务知名度较高，参保人遭遇保障范围内的意外或疾病时可获现金赔付，目前已为全球超5000万用户提供财务保障。
金宝汤是美国知名食品企业，核心旗舰产品为罐装汤品。其品牌旗下众多产品采用的经典红白罐设计已成为美国文化符号之一，艺术家安迪·沃霍尔创作的金宝汤罐系列波普艺术作品更让这一设计广为人知。
AFL vs CPB — 直观对比
营收规模更大
AFL
是对方的1.8倍
$2.7B
营收增速更快
CPB
高出6.5%
-10.0%
净利率更高
AFL
高出21.1%
7.2%
两年增速更快
CPB
近两年复合增速
-5.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $2.7B |
| 净利润 | $1.4B | $194.0M |
| 毛利率 | — | 29.6% |
| 营业利润率 | 32.3% | 12.6% |
| 净利率 | 28.3% | 7.2% |
| 营收同比 | -10.0% | -3.4% |
| 净利润同比 | -27.5% | -11.0% |
| 每股收益（稀释后） | $2.58 | $0.65 |
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AFLCPB
| Q4 25 | $4.9B | $2.7B | ||
| Q3 25 | $4.7B | $2.3B | ||
| Q2 25 | $4.2B | $2.5B | ||
| Q1 25 | $3.4B | $2.7B | ||
| Q4 24 | $5.4B | $2.8B | ||
| Q3 24 | $2.9B | $2.3B | ||
| Q2 24 | $5.1B | $2.4B | ||
| Q1 24 | $5.4B | $2.5B |
净利润AFLCPB
| Q4 25 | $1.4B | $194.0M | ||
| Q3 25 | $1.6B | $145.0M | ||
| Q2 25 | $599.0M | $66.0M | ||
| Q1 25 | $29.0M | $173.0M | ||
| Q4 24 | $1.9B | $218.0M | ||
| Q3 24 | $-93.0M | $-3.0M | ||
| Q2 24 | $1.8B | $133.0M | ||
| Q1 24 | $1.9B | $203.0M |
毛利率AFLCPB
| Q4 25 | — | 29.6% | ||
| Q3 25 | — | 30.4% | ||
| Q2 25 | — | 29.4% | ||
| Q1 25 | — | 30.5% | ||
| Q4 24 | — | 31.3% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 30.9% | ||
| Q1 24 | — | 31.6% |
营业利润率AFLCPB
| Q4 25 | 32.3% | 12.6% | ||
| Q3 25 | 42.1% | 11.6% | ||
| Q2 25 | 19.8% | 6.5% | ||
| Q1 25 | 4.3% | 12.2% | ||
| Q4 24 | 39.5% | 13.2% | ||
| Q3 24 | 3.1% | 3.4% | ||
| Q2 24 | 39.3% | 10.5% | ||
| Q1 24 | 39.9% | 12.9% |
净利率AFLCPB
| Q4 25 | 28.3% | 7.2% | ||
| Q3 25 | 34.6% | 6.2% | ||
| Q2 25 | 14.4% | 2.7% | ||
| Q1 25 | 0.9% | 6.4% | ||
| Q4 24 | 35.2% | 7.9% | ||
| Q3 24 | -3.2% | -0.1% | ||
| Q2 24 | 34.2% | 5.6% | ||
| Q1 24 | 34.6% | 8.3% |
每股收益（稀释后）AFLCPB
| Q4 25 | $2.58 | $0.65 | ||
| Q3 25 | $3.08 | $0.49 | ||
| Q2 25 | $1.11 | $0.22 | ||
| Q1 25 | $0.05 | $0.58 | ||
| Q4 24 | $3.45 | $0.72 | ||
| Q3 24 | $-0.17 | $-0.01 | ||
| Q2 24 | $3.10 | $0.44 | ||
| Q1 24 | $3.25 | $0.68 |
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 | $6.2B | $168.0M |
| 总债务越低越好 | — | $6.1B |
| 股东权益账面价值 | $29.5B | $4.0B |
| 总资产 | $116.5B | $15.2B |
| 负债/权益比越低杠杆越低 | — | 1.54× |
8季度趋势，按日历期对齐
现金及短期投资AFLCPB
| Q4 25 | $6.2B | $168.0M | ||
| Q3 25 | $6.8B | $132.0M | ||
| Q2 25 | $7.0B | $143.0M | ||
| Q1 25 | $5.2B | $829.0M | ||
| Q4 24 | $6.2B | $808.0M | ||
| Q3 24 | $5.6B | $108.0M | ||
| Q2 24 | $6.1B | $107.0M | ||
| Q1 24 | $5.1B | $169.0M |
总债务AFLCPB
| Q4 25 | — | $6.1B | ||
| Q3 25 | — | $6.1B | ||
| Q2 25 | — | $6.1B | ||
| Q1 25 | — | $6.5B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $5.8B | ||
| Q2 24 | — | $5.8B | ||
| Q1 24 | — | $4.5B |
股东权益AFLCPB
| Q4 25 | $29.5B | $4.0B | ||
| Q3 25 | $28.7B | $3.9B | ||
| Q2 25 | $27.2B | $3.9B | ||
| Q1 25 | $26.3B | $3.9B | ||
| Q4 24 | $26.1B | $3.8B | ||
| Q3 24 | $24.8B | $3.8B | ||
| Q2 24 | $26.0B | $3.9B | ||
| Q1 24 | $23.5B | $3.8B |
总资产AFLCPB
| Q4 25 | $116.5B | $15.2B | ||
| Q3 25 | $122.3B | $14.9B | ||
| Q2 25 | $124.7B | $14.8B | ||
| Q1 25 | $120.3B | $15.9B | ||
| Q4 24 | $117.6B | $16.1B | ||
| Q3 24 | $128.4B | $15.2B | ||
| Q2 24 | $120.2B | $15.2B | ||
| Q1 24 | $124.7B | $12.1B |
负债/权益比AFLCPB
| Q4 25 | — | 1.54× | ||
| Q3 25 | — | 1.56× | ||
| Q2 25 | — | 1.58× | ||
| Q1 25 | — | 1.66× | ||
| Q4 24 | — | 1.75× | ||
| Q3 24 | — | 1.52× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 1.17× |
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 | $315.0M | $224.0M |
| 自由现金流经营现金流 - 资本支出 | — | $97.0M |
| 自由现金流率自由现金流/营收 | — | 3.6% |
| 资本支出强度资本支出/营收 | — | 4.7% |
| 现金转化率经营现金流/净利润 | 0.23× | 1.15× |
| 过去12个月自由现金流最近4个季度 | — | $687.0M |
8季度趋势，按日历期对齐
经营现金流AFLCPB
| Q4 25 | $315.0M | $224.0M | ||
| Q3 25 | $1.3B | $259.0M | ||
| Q2 25 | $399.0M | $135.0M | ||
| Q1 25 | $589.0M | $512.0M | ||
| Q4 24 | $333.0M | $225.0M | ||
| Q3 24 | $1.3B | $288.0M | ||
| Q2 24 | $255.0M | $213.0M | ||
| Q1 24 | $849.0M | $510.0M |
自由现金流AFLCPB
| Q4 25 | — | $97.0M | ||
| Q3 25 | — | $129.0M | ||
| Q2 25 | — | $50.0M | ||
| Q1 25 | — | $411.0M | ||
| Q4 24 | — | $115.0M | ||
| Q3 24 | — | $147.0M | ||
| Q2 24 | — | $100.0M | ||
| Q1 24 | — | $390.0M |
自由现金流率AFLCPB
| Q4 25 | — | 3.6% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 15.3% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | — | 6.4% | ||
| Q2 24 | — | 4.2% | ||
| Q1 24 | — | 15.9% |
资本支出强度AFLCPB
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 6.1% | ||
| Q2 24 | — | 4.8% | ||
| Q1 24 | — | 4.9% |
现金转化率AFLCPB
| Q4 25 | 0.23× | 1.15× | ||
| Q3 25 | 0.76× | 1.79× | ||
| Q2 25 | 0.67× | 2.05× | ||
| Q1 25 | 20.31× | 2.96× | ||
| Q4 24 | 0.18× | 1.03× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.15× | 1.60× | ||
| Q1 24 | 0.45× | 2.51× |
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
AFL
| Aflac Japan | $2.3B | 47% |
| Aflac US | $1.7B | 35% |
| Other | $862.0M | 18% |
CPB
| Baked Snacks | $995.0M | 37% |
| Snacks | $914.0M | 34% |
| Simple Meals | $580.0M | 22% |
| Beverages | $168.0M | 6% |
