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AAR CORP（AIR）与CoreWeave, Inc.（CRWV）财务数据对比。点击上方公司名可切换其他公司
CoreWeave, Inc.的季度营收约是AAR CORP的2.0倍（$1.6B vs $795.3M），AAR CORP净利率更高（4.4% vs -28.7%，领先33.1%），AAR CORP自由现金流更多（$6.2M vs $-2.5B）
AAR CORP是一家美国航空服务企业，为全球商业及政府客户提供飞机维护相关服务，总部位于伊利诺伊州芝加哥郊区的伍德戴尔，在约30个国家开展业务，现有员工约6000人，现任首席执行官为约翰·霍姆斯。
CoreWeave是总部位于美国新泽西州利文斯顿的人工智能云计算企业，专注为AI开发者及各行业企业客户提供云侧图形处理器（GPU）算力基础设施，同时自主研发芯片管理相关软件。
AIR vs CRWV — 直观对比
营收规模更大
CRWV
是对方的2.0倍
$795.3M
净利率更高
AIR
高出33.1%
-28.7%
自由现金流更多
AIR
多$2.5B
$-2.5B
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $795.3M | $1.6B |
| 净利润 | $34.6M | $-451.7M |
| 毛利率 | 19.7% | 67.6% |
| 营业利润率 | 6.0% | -5.7% |
| 净利率 | 4.4% | -28.7% |
| 营收同比 | 15.9% | — |
| 净利润同比 | 213.1% | — |
| 每股收益（稀释后） | $0.90 | $-0.50 |
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AIRCRWV
| Q4 25 | $795.3M | $1.6B | ||
| Q3 25 | $739.6M | $1.4B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $981.6M | ||
| Q3 24 | — | $583.9M | ||
| Q2 24 | — | $395.4M |
净利润AIRCRWV
| Q4 25 | $34.6M | $-451.7M | ||
| Q3 25 | $34.4M | $-110.1M | ||
| Q2 25 | — | $-290.5M | ||
| Q1 25 | — | $-314.6M | ||
| Q3 24 | — | $-359.8M | ||
| Q2 24 | — | $-323.0M |
毛利率AIRCRWV
| Q4 25 | 19.7% | 67.6% | ||
| Q3 25 | 18.1% | 73.0% | ||
| Q2 25 | — | 74.2% | ||
| Q1 25 | — | 73.3% | ||
| Q3 24 | — | 75.5% | ||
| Q2 24 | — | 72.5% |
营业利润率AIRCRWV
| Q4 25 | 6.0% | -5.7% | ||
| Q3 25 | 6.4% | 3.8% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | -2.8% | ||
| Q3 24 | — | 20.1% | ||
| Q2 24 | — | 19.7% |
净利率AIRCRWV
| Q4 25 | 4.4% | -28.7% | ||
| Q3 25 | 4.7% | -8.1% | ||
| Q2 25 | — | -24.0% | ||
| Q1 25 | — | -32.1% | ||
| Q3 24 | — | -61.6% | ||
| Q2 24 | — | -81.7% |
每股收益（稀释后）AIRCRWV
| Q4 25 | $0.90 | $-0.50 | ||
| Q3 25 | $0.95 | $-0.22 | ||
| Q2 25 | — | $-0.60 | ||
| Q1 25 | — | $-1.49 | ||
| Q3 24 | — | $-1.82 | ||
| Q2 24 | — | $-1.62 |
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 | $75.6M | $3.2B |
| 总债务越低越好 | $952.7M | $21.4B |
| 股东权益账面价值 | $1.6B | $3.3B |
| 总资产 | $3.2B | $49.3B |
| 负债/权益比越低杠杆越低 | 0.61× | 6.41× |
8季度趋势，按日历期对齐
现金及短期投资AIRCRWV
| Q4 25 | $75.6M | $3.2B | ||
| Q3 25 | $80.0M | $1.9B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.0B |
总债务AIRCRWV
| Q4 25 | $952.7M | $21.4B | ||
| Q3 25 | $1.0B | $14.0B | ||
| Q2 25 | — | $11.1B | ||
| Q1 25 | — | $8.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AIRCRWV
| Q4 25 | $1.6B | $3.3B | ||
| Q3 25 | $1.2B | $3.9B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $1.9B | ||
| Q3 24 | — | $-344.0M | ||
| Q2 24 | — | $-1.0B |
总资产AIRCRWV
| Q4 25 | $3.2B | $49.3B | ||
| Q3 25 | $2.9B | $32.9B | ||
| Q2 25 | — | $26.2B | ||
| Q1 25 | — | $21.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
负债/权益比AIRCRWV
| Q4 25 | 0.61× | 6.41× | ||
| Q3 25 | 0.82× | 3.62× | ||
| Q2 25 | — | 4.16× | ||
| Q1 25 | — | 4.57× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $13.6M | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $6.2M | $-2.5B |
| 自由现金流率自由现金流/营收 | 0.8% | -159.1% |
| 资本支出强度资本支出/营收 | 0.9% | 258.3% |
| 现金转化率经营现金流/净利润 | 0.39× | — |
| 过去12个月自由现金流最近4个季度 | — | $-7.3B |
8季度趋势，按日历期对齐
经营现金流AIRCRWV
| Q4 25 | $13.6M | $1.6B | ||
| Q3 25 | $-44.9M | $1.7B | ||
| Q2 25 | — | $-251.3M | ||
| Q1 25 | — | $61.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流AIRCRWV
| Q4 25 | $6.2M | $-2.5B | ||
| Q3 25 | $-53.6M | $-699.8M | ||
| Q2 25 | — | $-2.7B | ||
| Q1 25 | — | $-1.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率AIRCRWV
| Q4 25 | 0.8% | -159.1% | ||
| Q3 25 | -7.2% | -51.3% | ||
| Q2 25 | — | -223.0% | ||
| Q1 25 | — | -137.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度AIRCRWV
| Q4 25 | 0.9% | 258.3% | ||
| Q3 25 | 1.2% | 175.1% | ||
| Q2 25 | — | 202.3% | ||
| Q1 25 | — | 143.4% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率AIRCRWV
| Q4 25 | 0.39× | — | ||
| Q3 25 | -1.31× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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
AIR
| Commercial Customer | $268.1M | 34% |
| Repair And Engineering | $244.5M | 31% |
| Integrated Solutions | $175.8M | 22% |
| Government And Defense Customer | $85.5M | 11% |
| Expeditionary Services | $21.4M | 3% |
CRWV
| US | $1.4B | 92% |
| Non Us | $129.3M | 8% |
