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Aflac（AFL）与麦当劳（MCD）财务数据对比。点击上方公司名可切换其他公司
麦当劳的季度营收约是Aflac的1.4倍（$7.0B vs $4.9B），麦当劳净利率更高（30.9% vs 28.3%，领先2.5%），麦当劳同比增速更快（9.7% vs -10.0%），过去两年麦当劳的营收复合增速更高（6.6% 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。
麦当劳是源自美国的知名跨国连锁快餐品牌，主营汉堡、薯条、炸鸡等快餐食品，业务覆盖全球多个国家和地区。截至2024年，其全球门店数量在所有餐饮连锁品牌中位列第二，仅次于中国本土品牌蜜雪冰城。
AFL vs MCD — 直观对比
营收规模更大
MCD
是对方的1.4倍
$4.9B
营收增速更快
MCD
高出19.7%
-10.0%
净利率更高
MCD
高出2.5%
28.3%
两年增速更快
MCD
近两年复合增速
-5.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $7.0B |
| 净利润 | $1.4B | $2.2B |
| 毛利率 | — | — |
| 营业利润率 | 32.3% | 45.0% |
| 净利率 | 28.3% | 30.9% |
| 营收同比 | -10.0% | 9.7% |
| 净利润同比 | -27.5% | 7.3% |
| 每股收益（稀释后） | $2.58 | $3.03 |
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AFLMCD
| Q4 25 | $4.9B | $7.0B | ||
| Q3 25 | $4.7B | $7.1B | ||
| Q2 25 | $4.2B | $6.8B | ||
| Q1 25 | $3.4B | $6.0B | ||
| Q4 24 | $5.4B | $6.4B | ||
| Q3 24 | $2.9B | $6.9B | ||
| Q2 24 | $5.1B | $6.5B | ||
| Q1 24 | $5.4B | $6.2B |
净利润AFLMCD
| Q4 25 | $1.4B | $2.2B | ||
| Q3 25 | $1.6B | $2.3B | ||
| Q2 25 | $599.0M | $2.3B | ||
| Q1 25 | $29.0M | $1.9B | ||
| Q4 24 | $1.9B | $2.0B | ||
| Q3 24 | $-93.0M | $2.3B | ||
| Q2 24 | $1.8B | $2.0B | ||
| Q1 24 | $1.9B | $1.9B |
毛利率AFLMCD
| Q4 25 | — | — | ||
| Q3 25 | — | 90.6% | ||
| Q2 25 | — | 90.4% | ||
| Q1 25 | — | 89.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 90.6% | ||
| Q2 24 | — | 90.3% | ||
| Q1 24 | — | 89.8% |
营业利润率AFLMCD
| Q4 25 | 32.3% | 45.0% | ||
| Q3 25 | 42.1% | 47.4% | ||
| Q2 25 | 19.8% | 47.2% | ||
| Q1 25 | 4.3% | 44.5% | ||
| Q4 24 | 39.5% | 44.9% | ||
| Q3 24 | 3.1% | 46.4% | ||
| Q2 24 | 39.3% | 45.0% | ||
| Q1 24 | 39.9% | 44.4% |
净利率AFLMCD
| Q4 25 | 28.3% | 30.9% | ||
| Q3 25 | 34.6% | 32.2% | ||
| Q2 25 | 14.4% | 32.9% | ||
| Q1 25 | 0.9% | 31.4% | ||
| Q4 24 | 35.2% | 31.6% | ||
| Q3 24 | -3.2% | 32.8% | ||
| Q2 24 | 34.2% | 31.2% | ||
| Q1 24 | 34.6% | 31.3% |
每股收益（稀释后）AFLMCD
| Q4 25 | $2.58 | $3.03 | ||
| Q3 25 | $3.08 | $3.18 | ||
| Q2 25 | $1.11 | $3.14 | ||
| Q1 25 | $0.05 | $2.60 | ||
| Q4 24 | $3.45 | $2.80 | ||
| Q3 24 | $-0.17 | $3.13 | ||
| Q2 24 | $3.10 | $2.80 | ||
| Q1 24 | $3.25 | $2.66 |
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 | $774.0M |
| 总债务越低越好 | — | $40.0B |
| 股东权益账面价值 | $29.5B | $-1.8B |
| 总资产 | $116.5B | $59.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AFLMCD
| Q4 25 | $6.2B | $774.0M | ||
| Q3 25 | $6.8B | $2.4B | ||
| Q2 25 | $7.0B | $1.9B | ||
| Q1 25 | $5.2B | $1.2B | ||
| Q4 24 | $6.2B | $1.1B | ||
| Q3 24 | $5.6B | $1.2B | ||
| Q2 24 | $6.1B | $792.0M | ||
| Q1 24 | $5.1B | $838.0M |
总债务AFLMCD
| Q4 25 | — | $40.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $38.4B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AFLMCD
| Q4 25 | $29.5B | $-1.8B | ||
| Q3 25 | $28.7B | $-2.2B | ||
| Q2 25 | $27.2B | $-2.8B | ||
| Q1 25 | $26.3B | $-3.5B | ||
| Q4 24 | $26.1B | $-3.8B | ||
| Q3 24 | $24.8B | $-5.2B | ||
| Q2 24 | $26.0B | $-4.8B | ||
| Q1 24 | $23.5B | $-4.8B |
总资产AFLMCD
| Q4 25 | $116.5B | $59.5B | ||
| Q3 25 | $122.3B | $60.6B | ||
| Q2 25 | $124.7B | $59.6B | ||
| Q1 25 | $120.3B | $56.3B | ||
| Q4 24 | $117.6B | $55.2B | ||
| Q3 24 | $128.4B | $56.2B | ||
| Q2 24 | $120.2B | $53.8B | ||
| Q1 24 | $124.7B | $53.5B |
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 | $2.7B |
| 自由现金流经营现金流 - 资本支出 | — | $1.6B |
| 自由现金流率自由现金流/营收 | — | 23.4% |
| 资本支出强度资本支出/营收 | — | 15.1% |
| 现金转化率经营现金流/净利润 | 0.23× | 1.25× |
| 过去12个月自由现金流最近4个季度 | — | $7.2B |
8季度趋势，按日历期对齐
经营现金流AFLMCD
| Q4 25 | $315.0M | $2.7B | ||
| Q3 25 | $1.3B | $3.4B | ||
| Q2 25 | $399.0M | $2.0B | ||
| Q1 25 | $589.0M | $2.4B | ||
| Q4 24 | $333.0M | $2.6B | ||
| Q3 24 | $1.3B | $2.7B | ||
| Q2 24 | $255.0M | $1.7B | ||
| Q1 24 | $849.0M | $2.4B |
自由现金流AFLMCD
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.8B |
自由现金流率AFLMCD
| Q4 25 | — | 23.4% | ||
| Q3 25 | — | 34.1% | ||
| Q2 25 | — | 18.3% | ||
| Q1 25 | — | 31.5% | ||
| Q4 24 | — | 28.6% | ||
| Q3 24 | — | 28.3% | ||
| Q2 24 | — | 16.3% | ||
| Q1 24 | — | 29.9% |
资本支出强度AFLMCD
| Q4 25 | — | 15.1% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 10.9% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | — | 9.7% | ||
| Q1 24 | — | 8.9% |
现金转化率AFLMCD
| Q4 25 | 0.23× | 1.25× | ||
| Q3 25 | 0.76× | 1.50× | ||
| Q2 25 | 0.67× | 0.89× | ||
| Q1 25 | 20.31× | 1.30× | ||
| Q4 24 | 0.18× | 1.30× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | 0.15× | 0.84× | ||
| Q1 24 | 0.45× | 1.24× |
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% |
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
