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AIR LEASE CORP（AL）与MACERICH CO（MAC）财务数据对比。点击上方公司名可切换其他公司
MACERICH CO的季度营收约是AIR LEASE CORP的1.9倍（$261.7M vs $140.8M），AIR LEASE CORP净利率更高（128.5% vs -7.2%，领先135.6%），AIR LEASE CORP同比增速更快（90.4% vs -4.4%），过去两年AIR LEASE CORP的营收复合增速更高（69.6% vs 12.0%）
航空租赁公司（ALC）是2010年成立的美国飞机租赁企业，由史蒂文·F·乌德瓦-哈齐执掌运营。公司直接向波音、空客、巴航工业、ATR采购全新商用飞机，为全球各地航空公司客户提供专业的飞机租赁及融资服务。
Macerich是一家专注于购物中心投资的房地产投资信托基金，为美国第三大购物中心持有及运营商。截至2024年12月31日，公司共持有43处物业的权益，可租赁总面积达4300万平方英尺，公司名称由创始人Mace Siegel与Richard Cohen的名字组合而来。
AL vs MAC — 直观对比
营收规模更大
MAC
是对方的1.9倍
$140.8M
营收增速更快
AL
高出94.8%
-4.4%
净利率更高
AL
高出135.6%
-7.2%
两年增速更快
AL
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $140.8M | $261.7M |
| 净利润 | $180.9M | $-18.8M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 128.5% | -7.2% |
| 营收同比 | 90.4% | -4.4% |
| 净利润同比 | 60.2% | 91.1% |
| 每股收益（稀释后） | $1.49 | $-0.08 |
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ALMAC
| Q4 25 | $140.8M | $261.7M | ||
| Q3 25 | $44.5M | $253.3M | ||
| Q2 25 | $53.0M | $249.8M | ||
| Q1 25 | $92.9M | $249.2M | ||
| Q4 24 | $74.0M | $273.7M | ||
| Q3 24 | $65.0M | $220.2M | ||
| Q2 24 | $57.8M | $215.5M | ||
| Q1 24 | $49.0M | $208.8M |
净利润ALMAC
| Q4 25 | $180.9M | $-18.8M | ||
| Q3 25 | $146.5M | $-87.4M | ||
| Q2 25 | $385.2M | $-40.9M | ||
| Q1 25 | $375.8M | $-50.1M | ||
| Q4 24 | $112.9M | $-211.2M | ||
| Q3 24 | $104.0M | $-108.2M | ||
| Q2 24 | $102.9M | $252.0M | ||
| Q1 24 | $107.9M | $-126.7M |
净利率ALMAC
| Q4 25 | 128.5% | -7.2% | ||
| Q3 25 | 329.2% | -34.5% | ||
| Q2 25 | 726.9% | -16.4% | ||
| Q1 25 | 404.5% | -20.1% | ||
| Q4 24 | 152.7% | -77.2% | ||
| Q3 24 | 160.0% | -49.1% | ||
| Q2 24 | 178.2% | 116.9% | ||
| Q1 24 | 220.2% | -60.7% |
每股收益（稀释后）ALMAC
| Q4 25 | $1.49 | $-0.08 | ||
| Q3 25 | $1.21 | $-0.34 | ||
| Q2 25 | $3.33 | $-0.16 | ||
| Q1 25 | $3.26 | $-0.20 | ||
| Q4 24 | $0.83 | $-0.95 | ||
| Q3 24 | $0.82 | $-0.50 | ||
| Q2 24 | $0.81 | $1.16 | ||
| Q1 24 | $0.87 | $-0.59 |
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 | $466.4M | $280.2M |
| 总债务越低越好 | $19.7B | $5.1B |
| 股东权益账面价值 | $8.5B | $2.4B |
| 总资产 | $32.9B | $8.4B |
| 负债/权益比越低杠杆越低 | 2.33× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资ALMAC
| Q4 25 | $466.4M | $280.2M | ||
| Q3 25 | $452.2M | $290.2M | ||
| Q2 25 | $454.8M | $131.1M | ||
| Q1 25 | $456.6M | $253.2M | ||
| Q4 24 | $472.6M | $89.9M | ||
| Q3 24 | $460.8M | $116.5M | ||
| Q2 24 | $454.1M | $70.7M | ||
| Q1 24 | $554.4M | $120.1M |
总债务ALMAC
| Q4 25 | $19.7B | $5.1B | ||
| Q3 25 | $20.2B | $5.1B | ||
| Q2 25 | $20.3B | $5.2B | ||
| Q1 25 | $19.9B | $5.2B | ||
| Q4 24 | $20.2B | $4.9B | ||
| Q3 24 | $20.2B | $4.3B | ||
| Q2 24 | $19.7B | $4.4B | ||
| Q1 24 | $19.5B | $4.1B |
股东权益ALMAC
| Q4 25 | $8.5B | $2.4B | ||
| Q3 25 | $8.3B | $2.5B | ||
| Q2 25 | $8.2B | $2.6B | ||
| Q1 25 | $7.9B | $2.7B | ||
| Q4 24 | $7.5B | $2.8B | ||
| Q3 24 | $7.7B | $2.5B | ||
| Q2 24 | $7.3B | $2.5B | ||
| Q1 24 | $7.2B | $2.3B |
总资产ALMAC
| Q4 25 | $32.9B | $8.4B | ||
| Q3 25 | $33.4B | $8.4B | ||
| Q2 25 | $33.3B | $8.7B | ||
| Q1 25 | $32.4B | $8.7B | ||
| Q4 24 | $32.3B | $8.6B | ||
| Q3 24 | $32.2B | $7.6B | ||
| Q2 24 | $31.0B | $7.8B | ||
| Q1 24 | $30.9B | $7.4B |
负债/权益比ALMAC
| Q4 25 | 2.33× | 2.07× | ||
| Q3 25 | 2.42× | 2.02× | ||
| Q2 25 | 2.47× | 2.02× | ||
| Q1 25 | 2.53× | 1.96× | ||
| Q4 24 | 2.68× | 1.78× | ||
| Q3 24 | 2.63× | 1.73× | ||
| Q2 24 | 2.69× | 1.75× | ||
| Q1 24 | 2.69× | 1.79× |
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 | $414.1M | $50.2M |
| 自由现金流经营现金流 - 资本支出 | $342.1M | — |
| 自由现金流率自由现金流/营收 | 242.9% | — |
| 资本支出强度资本支出/营收 | 51.1% | — |
| 现金转化率经营现金流/净利润 | 2.29× | — |
| 过去12个月自由现金流最近4个季度 | $1.5B | — |
8季度趋势，按日历期对齐
经营现金流ALMAC
| Q4 25 | $414.1M | $50.2M | ||
| Q3 25 | $458.6M | $112.4M | ||
| Q2 25 | $473.6M | $70.5M | ||
| Q1 25 | $388.3M | $88.5M | ||
| Q4 24 | $430.0M | $54.9M | ||
| Q3 24 | $461.9M | $100.0M | ||
| Q2 24 | $413.8M | $67.4M | ||
| Q1 24 | $371.3M | $61.1M |
自由现金流ALMAC
| Q4 25 | $342.1M | — | ||
| Q3 25 | $412.3M | — | ||
| Q2 25 | $427.1M | — | ||
| Q1 25 | $315.5M | — | ||
| Q4 24 | $326.8M | — | ||
| Q3 24 | $369.8M | — | ||
| Q2 24 | $346.4M | — | ||
| Q1 24 | $246.8M | — |
自由现金流率ALMAC
| Q4 25 | 242.9% | — | ||
| Q3 25 | 926.6% | — | ||
| Q2 25 | 806.0% | — | ||
| Q1 25 | 339.5% | — | ||
| Q4 24 | 441.8% | — | ||
| Q3 24 | 569.1% | — | ||
| Q2 24 | 599.5% | — | ||
| Q1 24 | 503.8% | — |
资本支出强度ALMAC
| Q4 25 | 51.1% | — | ||
| Q3 25 | 104.1% | — | ||
| Q2 25 | 87.8% | — | ||
| Q1 25 | 78.4% | — | ||
| Q4 24 | 139.6% | — | ||
| Q3 24 | 141.7% | — | ||
| Q2 24 | 116.7% | — | ||
| Q1 24 | 254.3% | — |
现金转化率ALMAC
| Q4 25 | 2.29× | — | ||
| Q3 25 | 3.13× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 1.03× | — | ||
| Q4 24 | 3.81× | — | ||
| Q3 24 | 4.44× | — | ||
| Q2 24 | 4.02× | 0.27× | ||
| Q1 24 | 3.44× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
