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雅保（ALB）与VinFast Auto Ltd.（VFS）财务数据对比。点击上方公司名可切换其他公司
雅保的季度营收约是VinFast Auto Ltd.的2.0倍（$1.4B vs $718.6M），VinFast Auto Ltd.净利率更高（-2.8% vs -29.0%，领先26.2%）
雅保是全球知名的特种化学品企业，业务覆盖研发、生产与全球销售，下设锂、溴、催化剂三大板块。锂业务线供应碳酸锂、氢氧化锂、氯化锂等锂化合物及相关试剂，产品广泛应用于消费电子、电动汽车锂电池、高性能润滑脂、热塑性弹性体等领域。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
ALB vs VFS — 直观对比
营收规模更大
ALB
是对方的2.0倍
$718.6M
净利率更高
VFS
高出26.2%
-29.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $718.6M |
| 净利润 | $-414.2M | $-20.0M |
| 毛利率 | 13.9% | — |
| 营业利润率 | -15.2% | -96.1% |
| 净利率 | -29.0% | -2.8% |
| 营收同比 | 15.9% | — |
| 净利润同比 | -650.1% | — |
| 每股收益（稀释后） | $-3.88 | — |
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ALBVFS
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | $718.6M | ||
| Q2 25 | $1.3B | $663.0M | ||
| Q1 25 | $1.1B | $656.5M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.4B | $511.6M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | $302.6M |
净利润ALBVFS
| Q4 25 | $-414.2M | — | ||
| Q3 25 | $-160.7M | $-20.0M | ||
| Q2 25 | $22.9M | $-51.8M | ||
| Q1 25 | $41.3M | $-26.1M | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $-1.1B | $-10.4M | ||
| Q2 24 | $-188.2M | — | ||
| Q1 24 | $2.4M | $-618.3M |
毛利率ALBVFS
| Q4 25 | 13.9% | — | ||
| Q3 25 | 9.0% | — | ||
| Q2 25 | 14.8% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | -7.7% | — | ||
| Q2 24 | -0.7% | — | ||
| Q1 24 | 2.9% | — |
营业利润率ALBVFS
| Q4 25 | -15.2% | — | ||
| Q3 25 | -16.6% | -96.1% | ||
| Q2 25 | 3.6% | -79.0% | ||
| Q1 25 | 1.8% | -74.0% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | -81.9% | -65.9% | ||
| Q2 24 | -34.4% | — | ||
| Q1 24 | -13.2% | -139.4% |
净利率ALBVFS
| Q4 25 | -29.0% | — | ||
| Q3 25 | -12.3% | -2.8% | ||
| Q2 25 | 1.7% | -7.8% | ||
| Q1 25 | 3.8% | -4.0% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | -78.9% | -2.0% | ||
| Q2 24 | -13.2% | — | ||
| Q1 24 | 0.2% | -204.3% |
每股收益（稀释后）ALBVFS
| Q4 25 | $-3.88 | — | ||
| Q3 25 | $-1.72 | — | ||
| Q2 25 | $-0.16 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $0.29 | — | ||
| Q3 24 | $-9.45 | — | ||
| Q2 24 | $-1.96 | — | ||
| Q1 24 | $-0.08 | — |
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 | — | $8.8M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $9.5B | — |
| 总资产 | $16.4B | $183.2M |
| 负债/权益比越低杠杆越低 | 0.33× | — |
8季度趋势，按日历期对齐
现金及短期投资ALBVFS
| Q4 25 | — | — | ||
| Q3 25 | $1.9B | $8.8M | ||
| Q2 25 | $1.8B | $650.0M | ||
| Q1 25 | $1.5B | $2.4M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.7B | $1.9M | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $2.1B | $3.0M |
总债务ALBVFS
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.6B | — | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.5B | — | ||
| Q1 24 | $3.5B | — |
股东权益ALBVFS
| Q4 25 | $9.5B | — | ||
| Q3 25 | $10.0B | — | ||
| Q2 25 | $10.2B | $-7.2B | ||
| Q1 25 | $10.0B | — | ||
| Q4 24 | $10.0B | — | ||
| Q3 24 | $10.2B | — | ||
| Q2 24 | $11.2B | — | ||
| Q1 24 | $11.5B | — |
总资产ALBVFS
| Q4 25 | $16.4B | — | ||
| Q3 25 | $17.1B | $183.2M | ||
| Q2 25 | $17.3B | $7.2B | ||
| Q1 25 | $17.0B | $158.2M | ||
| Q4 24 | $16.6B | — | ||
| Q3 24 | $17.5B | $151.8M | ||
| Q2 24 | $18.4B | — | ||
| Q1 24 | $19.0B | $145.6M |
负债/权益比ALBVFS
| Q4 25 | 0.33× | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | 0.35× | — | ||
| Q2 24 | 0.31× | — | ||
| Q1 24 | 0.31× | — |
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 | $388.5M | — |
| 自由现金流经营现金流 - 资本支出 | $233.1M | — |
| 自由现金流率自由现金流/营收 | 16.3% | — |
| 资本支出强度资本支出/营收 | 10.9% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $692.5M | — |
8季度趋势，按日历期对齐
经营现金流ALBVFS
| Q4 25 | $388.5M | — | ||
| Q3 25 | $355.6M | — | ||
| Q2 25 | $-7.2M | — | ||
| Q1 25 | $545.4M | — | ||
| Q4 24 | $674.0K | — | ||
| Q3 24 | $240.5M | — | ||
| Q2 24 | $362.9M | — | ||
| Q1 24 | $98.0M | — |
自由现金流ALBVFS
| Q4 25 | $233.1M | — | ||
| Q3 25 | $223.4M | — | ||
| Q2 25 | $-126.8M | — | ||
| Q1 25 | $362.8M | — | ||
| Q4 24 | $-355.1M | — | ||
| Q3 24 | $-62.6M | — | ||
| Q2 24 | $-84.7M | — | ||
| Q1 24 | $-481.4M | — |
自由现金流率ALBVFS
| Q4 25 | 16.3% | — | ||
| Q3 25 | 17.1% | — | ||
| Q2 25 | -9.5% | — | ||
| Q1 25 | 33.7% | — | ||
| Q4 24 | -28.8% | — | ||
| Q3 24 | -4.6% | — | ||
| Q2 24 | -5.9% | — | ||
| Q1 24 | -35.4% | — |
资本支出强度ALBVFS
| Q4 25 | 10.9% | — | ||
| Q3 25 | 10.1% | — | ||
| Q2 25 | 9.0% | — | ||
| Q1 25 | 17.0% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 22.4% | — | ||
| Q2 24 | 31.3% | — | ||
| Q1 24 | 42.6% | — |
现金转化率ALBVFS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.31× | — | ||
| Q1 25 | 13.19× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 40.01× | — |
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
ALB
| Energy Storage | $759.1M | 53% |
| Specialties | $348.9M | 24% |
| Ketjen | $320.1M | 22% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
