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Aflac（AFL）与Steel Dynamics（STLD）财务数据对比。点击上方公司名可切换其他公司
Steel Dynamics的季度营收约是Aflac的1.1倍（$5.2B vs $4.9B），Aflac净利率更高（28.3% vs 7.7%，领先20.7%），Steel Dynamics同比增速更快（17.9% vs -10.0%），过去两年Steel Dynamics的营收复合增速更高（6.0% 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。
Steel Dynamics是总部位于美国印第安纳州韦恩堡的钢铁生产企业，钢铁产能达1300万吨，为美国第三大碳钢产品生产商，按利润率及每吨运营利润率计算属于美国盈利能力最强的钢企之一，凭借2021年营收位列2022年财富美国500强第196位。
AFL vs STLD — 直观对比
营收规模更大
STLD
是对方的1.1倍
$4.9B
营收增速更快
STLD
高出27.9%
-10.0%
净利率更高
AFL
高出20.7%
7.7%
两年增速更快
STLD
近两年复合增速
-5.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $5.2B |
| 净利润 | $1.4B | $400.1M |
| 毛利率 | — | 14.7% |
| 营业利润率 | 32.3% | 10.3% |
| 净利率 | 28.3% | 7.7% |
| 营收同比 | -10.0% | 17.9% |
| 净利润同比 | -27.5% | 51.3% |
| 每股收益（稀释后） | $2.58 | $2.78 |
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AFLSTLD
| Q1 26 | — | $5.2B | ||
| Q4 25 | $4.9B | $4.4B | ||
| Q3 25 | $4.7B | $4.8B | ||
| Q2 25 | $4.2B | $4.6B | ||
| Q1 25 | $3.4B | $4.4B | ||
| Q4 24 | $5.4B | $3.9B | ||
| Q3 24 | $2.9B | $4.3B | ||
| Q2 24 | $5.1B | $4.6B |
净利润AFLSTLD
| Q1 26 | — | $400.1M | ||
| Q4 25 | $1.4B | $266.0M | ||
| Q3 25 | $1.6B | $403.7M | ||
| Q2 25 | $599.0M | $298.7M | ||
| Q1 25 | $29.0M | $217.2M | ||
| Q4 24 | $1.9B | $207.3M | ||
| Q3 24 | $-93.0M | $317.8M | ||
| Q2 24 | $1.8B | $428.0M |
毛利率AFLSTLD
| Q1 26 | — | 14.7% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 15.7% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 16.7% |
营业利润率AFLSTLD
| Q1 26 | — | 10.3% | ||
| Q4 25 | 32.3% | 7.0% | ||
| Q3 25 | 42.1% | 10.5% | ||
| Q2 25 | 19.8% | 8.4% | ||
| Q1 25 | 4.3% | 6.3% | ||
| Q4 24 | 39.5% | 6.1% | ||
| Q3 24 | 3.1% | 9.1% | ||
| Q2 24 | 39.3% | 12.1% |
净利率AFLSTLD
| Q1 26 | — | 7.7% | ||
| Q4 25 | 28.3% | 6.0% | ||
| Q3 25 | 34.6% | 8.4% | ||
| Q2 25 | 14.4% | 6.5% | ||
| Q1 25 | 0.9% | 5.0% | ||
| Q4 24 | 35.2% | 5.4% | ||
| Q3 24 | -3.2% | 7.3% | ||
| Q2 24 | 34.2% | 9.2% |
每股收益（稀释后）AFLSTLD
| Q1 26 | — | $2.78 | ||
| Q4 25 | $2.58 | $1.80 | ||
| Q3 25 | $3.08 | $2.74 | ||
| Q2 25 | $1.11 | $2.01 | ||
| Q1 25 | $0.05 | $1.44 | ||
| Q4 24 | $3.45 | $1.40 | ||
| Q3 24 | $-0.17 | $2.05 | ||
| Q2 24 | $3.10 | $2.72 |
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 | $556.5M |
| 总债务越低越好 | — | $4.2B |
| 股东权益账面价值 | $29.5B | $9.0B |
| 总资产 | $116.5B | $16.7B |
| 负债/权益比越低杠杆越低 | — | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资AFLSTLD
| Q1 26 | — | $556.5M | ||
| Q4 25 | $6.2B | $769.9M | ||
| Q3 25 | $6.8B | $770.4M | ||
| Q2 25 | $7.0B | $497.6M | ||
| Q1 25 | $5.2B | $1.2B | ||
| Q4 24 | $6.2B | $737.3M | ||
| Q3 24 | $5.6B | $1.7B | ||
| Q2 24 | $6.1B | $1.2B |
总债务AFLSTLD
| Q1 26 | — | $4.2B | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $3.8B | ||
| Q2 25 | — | $3.8B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | $3.7B | ||
| Q2 24 | — | $3.1B |
股东权益AFLSTLD
| Q1 26 | — | $9.0B | ||
| Q4 25 | $29.5B | $9.0B | ||
| Q3 25 | $28.7B | $9.0B | ||
| Q2 25 | $27.2B | $8.9B | ||
| Q1 25 | $26.3B | $8.8B | ||
| Q4 24 | $26.1B | $8.9B | ||
| Q3 24 | $24.8B | $9.1B | ||
| Q2 24 | $26.0B | $9.1B |
总资产AFLSTLD
| Q1 26 | — | $16.7B | ||
| Q4 25 | $116.5B | $16.4B | ||
| Q3 25 | $122.3B | $16.0B | ||
| Q2 25 | $124.7B | $15.5B | ||
| Q1 25 | $120.3B | $15.9B | ||
| Q4 24 | $117.6B | $14.9B | ||
| Q3 24 | $128.4B | $15.7B | ||
| Q2 24 | $120.2B | $15.1B |
负债/权益比AFLSTLD
| Q1 26 | — | 0.47× | ||
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.41× | ||
| 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 | $315.0M | $148.3M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 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 | 0.23× | 0.37× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AFLSTLD
| Q1 26 | — | $148.3M | ||
| Q4 25 | $315.0M | $272.7M | ||
| Q3 25 | $1.3B | $722.6M | ||
| Q2 25 | $399.0M | $301.6M | ||
| Q1 25 | $589.0M | $152.6M | ||
| Q4 24 | $333.0M | $346.9M | ||
| Q3 24 | $1.3B | $759.9M | ||
| Q2 24 | $255.0M | $382.6M |
自由现金流AFLSTLD
| Q1 26 | — | — | ||
| Q4 25 | — | $84.2M | ||
| Q3 25 | — | $556.9M | ||
| Q2 25 | — | $13.3M | ||
| Q1 25 | — | $-152.9M | ||
| Q4 24 | — | $-106.3M | ||
| Q3 24 | — | $138.5M | ||
| Q2 24 | — | $-36.6M |
自由现金流率AFLSTLD
| Q1 26 | — | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 11.5% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | -3.5% | ||
| Q4 24 | — | -2.7% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | -0.8% |
资本支出强度AFLSTLD
| Q1 26 | — | — | ||
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 7.0% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 14.3% | ||
| Q2 24 | — | 9.0% |
现金转化率AFLSTLD
| Q1 26 | — | 0.37× | ||
| Q4 25 | 0.23× | 1.03× | ||
| Q3 25 | 0.76× | 1.79× | ||
| Q2 25 | 0.67× | 1.01× | ||
| Q1 25 | 20.31× | 0.70× | ||
| Q4 24 | 0.18× | 1.67× | ||
| Q3 24 | — | 2.39× | ||
| Q2 24 | 0.15× | 0.89× |
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% |
STLD
| Steel | $3.5B | 68% |
| Metals Recycling | $593.2M | 11% |
| Other | $490.1M | 9% |
| Steel Fabrication | $355.4M | 7% |
| Aluminum | $227.4M | 4% |
