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AAR CORP（AIR）与DROPBOX, INC.（DBX）财务数据对比。点击上方公司名可切换其他公司
AAR CORP的季度营收约是DROPBOX, INC.的1.3倍（$795.3M vs $636.2M），DROPBOX, INC.净利率更高（17.1% vs 4.4%，领先12.7%），AAR CORP同比增速更快（15.9% vs -1.1%），DROPBOX, INC.自由现金流更多（$224.9M vs $6.2M）
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。
Dropbox是总部位于美国加利福尼亚州旧金山的云服务企业，2007年由麻省理工学院学生德鲁·休斯顿与阿拉什·费尔多西创立，初创阶段获得创业孵化器Y Combinator的种子投资，核心业务包含云存储、文件同步、个人云及配套客户端软件等服务。
AIR vs DBX — 直观对比
营收规模更大
AIR
是对方的1.3倍
$636.2M
营收增速更快
AIR
高出17.1%
-1.1%
净利率更高
DBX
高出12.7%
4.4%
自由现金流更多
DBX
多$218.7M
$6.2M
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $795.3M | $636.2M |
| 净利润 | $34.6M | $108.7M |
| 毛利率 | 19.7% | 79.2% |
| 营业利润率 | 6.0% | 25.5% |
| 净利率 | 4.4% | 17.1% |
| 营收同比 | 15.9% | -1.1% |
| 净利润同比 | 213.1% | 5.7% |
| 每股收益（稀释后） | $0.90 | $0.43 |
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AIRDBX
| Q4 25 | $795.3M | $636.2M | ||
| Q3 25 | $739.6M | $634.4M | ||
| Q2 25 | — | $625.7M | ||
| Q1 25 | — | $624.7M | ||
| Q4 24 | — | $643.6M | ||
| Q3 24 | — | $638.8M | ||
| Q2 24 | — | $634.5M | ||
| Q1 24 | — | $631.3M |
净利润AIRDBX
| Q4 25 | $34.6M | $108.7M | ||
| Q3 25 | $34.4M | $123.8M | ||
| Q2 25 | — | $125.6M | ||
| Q1 25 | — | $150.3M | ||
| Q4 24 | — | $102.8M | ||
| Q3 24 | — | $106.7M | ||
| Q2 24 | — | $110.5M | ||
| Q1 24 | — | $132.3M |
毛利率AIRDBX
| Q4 25 | 19.7% | 79.2% | ||
| Q3 25 | 18.1% | 79.8% | ||
| Q2 25 | — | 80.2% | ||
| Q1 25 | — | 81.3% | ||
| Q4 24 | — | 81.2% | ||
| Q3 24 | — | 82.5% | ||
| Q2 24 | — | 83.1% | ||
| Q1 24 | — | 83.2% |
营业利润率AIRDBX
| Q4 25 | 6.0% | 25.5% | ||
| Q3 25 | 6.4% | 27.5% | ||
| Q2 25 | — | 26.9% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | — | 20.0% | ||
| Q2 24 | — | 20.0% | ||
| Q1 24 | — | 22.7% |
净利率AIRDBX
| Q4 25 | 4.4% | 17.1% | ||
| Q3 25 | 4.7% | 19.5% | ||
| Q2 25 | — | 20.1% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 16.0% | ||
| Q3 24 | — | 16.7% | ||
| Q2 24 | — | 17.4% | ||
| Q1 24 | — | 21.0% |
每股收益（稀释后）AIRDBX
| Q4 25 | $0.90 | $0.43 | ||
| Q3 25 | $0.95 | $0.47 | ||
| Q2 25 | — | $0.45 | ||
| Q1 25 | — | $0.51 | ||
| Q4 24 | — | $0.33 | ||
| Q3 24 | — | $0.34 | ||
| Q2 24 | — | $0.34 | ||
| Q1 24 | — | $0.39 |
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 | $891.3M |
| 总债务越低越好 | $952.7M | — |
| 股东权益账面价值 | $1.6B | $-1.8B |
| 总资产 | $3.2B | $2.8B |
| 负债/权益比越低杠杆越低 | 0.61× | — |
8季度趋势，按日历期对齐
现金及短期投资AIRDBX
| Q4 25 | $75.6M | $891.3M | ||
| Q3 25 | $80.0M | $730.7M | ||
| Q2 25 | — | $736.3M | ||
| Q1 25 | — | $942.2M | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $517.6M | ||
| Q2 24 | — | $515.1M | ||
| Q1 24 | — | $548.9M |
总债务AIRDBX
| Q4 25 | $952.7M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AIRDBX
| Q4 25 | $1.6B | $-1.8B | ||
| Q3 25 | $1.2B | $-1.5B | ||
| Q2 25 | — | $-1.3B | ||
| Q1 25 | — | $-1.1B | ||
| Q4 24 | — | $-752.4M | ||
| Q3 24 | — | $-546.1M | ||
| Q2 24 | — | $-371.3M | ||
| Q1 24 | — | $-277.2M |
总资产AIRDBX
| Q4 25 | $3.2B | $2.8B | ||
| Q3 25 | $2.9B | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.8B |
负债/权益比AIRDBX
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $235.4M |
| 自由现金流经营现金流 - 资本支出 | $6.2M | $224.9M |
| 自由现金流率自由现金流/营收 | 0.8% | 35.4% |
| 资本支出强度资本支出/营收 | 0.9% | 1.7% |
| 现金转化率经营现金流/净利润 | 0.39× | 2.17× |
| 过去12个月自由现金流最近4个季度 | — | $930.8M |
8季度趋势，按日历期对齐
经营现金流AIRDBX
| Q4 25 | $13.6M | $235.4M | ||
| Q3 25 | $-44.9M | $302.1M | ||
| Q2 25 | — | $260.5M | ||
| Q1 25 | — | $153.8M | ||
| Q4 24 | — | $213.8M | ||
| Q3 24 | — | $274.2M | ||
| Q2 24 | — | $230.6M | ||
| Q1 24 | — | $175.5M |
自由现金流AIRDBX
| Q4 25 | $6.2M | $224.9M | ||
| Q3 25 | $-53.6M | $293.7M | ||
| Q2 25 | — | $258.5M | ||
| Q1 25 | — | $153.7M | ||
| Q4 24 | — | $210.5M | ||
| Q3 24 | — | $270.1M | ||
| Q2 24 | — | $224.7M | ||
| Q1 24 | — | $166.3M |
自由现金流率AIRDBX
| Q4 25 | 0.8% | 35.4% | ||
| Q3 25 | -7.2% | 46.3% | ||
| Q2 25 | — | 41.3% | ||
| Q1 25 | — | 24.6% | ||
| Q4 24 | — | 32.7% | ||
| Q3 24 | — | 42.3% | ||
| Q2 24 | — | 35.4% | ||
| Q1 24 | — | 26.3% |
资本支出强度AIRDBX
| Q4 25 | 0.9% | 1.7% | ||
| Q3 25 | 1.2% | 1.3% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 1.5% |
现金转化率AIRDBX
| Q4 25 | 0.39× | 2.17× | ||
| Q3 25 | -1.31× | 2.44× | ||
| Q2 25 | — | 2.07× | ||
| Q1 25 | — | 1.02× | ||
| Q4 24 | — | 2.08× | ||
| Q3 24 | — | 2.57× | ||
| Q2 24 | — | 2.09× | ||
| Q1 24 | — | 1.33× |
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% |
DBX
| US | $355.3M | 56% |
| Non Us | $280.9M | 44% |
