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阿拉斯加航空集团（ALK）与百度（BIDU）财务数据对比。点击上方公司名可切换其他公司
百度的季度营收约是阿拉斯加航空集团的1.5倍（$5.0B vs $3.3B），百度净利率更高（6.0% vs -5.8%，领先11.8%），百度同比增速更快（14.0% vs 5.2%），过去两年百度的营收复合增速更高（7.5% vs 6.7%）
阿拉斯加航空集团是总部位于美国华盛顿州西塔科的航空控股企业，旗下拥有阿拉斯加航空、夏威夷航空两家干线航司，以及区域航司地平线航空，阿拉斯加航空还全资控股飞机地面服务提供商麦吉航空服务。
百度是中国头部跨国科技企业，深耕互联网服务与人工智能赛道，在中国搜索引擎市场占据主导地位。旗下拥有百度APP、百度百科、百度贴吧等多元产品矩阵，同时运营视频平台爱奇艺，可为海量用户提供覆盖多场景的优质数字服务。
ALK vs BIDU — 直观对比
营收规模更大
BIDU
是对方的1.5倍
$3.3B
营收增速更快
BIDU
高出8.8%
5.2%
净利率更高
BIDU
高出11.8%
-5.8%
两年增速更快
BIDU
近两年复合增速
6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $5.0B |
| 净利润 | $-193.0M | $300.0M |
| 毛利率 | — | 41.0% |
| 营业利润率 | — | 4.1% |
| 净利率 | -5.8% | 6.0% |
| 营收同比 | 5.2% | 14.0% |
| 净利润同比 | -16.3% | -47.1% |
| 每股收益（稀释后） | $-1.69 | $0.53 |
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ALKBIDU
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.6B | $5.0B | ||
| Q3 25 | $3.8B | $4.4B | ||
| Q2 25 | $3.7B | $4.6B | ||
| Q1 25 | $3.1B | $4.5B | ||
| Q4 24 | $3.5B | $4.4B | ||
| Q3 24 | $3.1B | $4.8B | ||
| Q2 24 | $2.9B | $4.7B |
净利润ALKBIDU
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $300.0M | ||
| Q3 25 | $73.0M | $-1.6B | ||
| Q2 25 | $172.0M | $1.0B | ||
| Q1 25 | $-166.0M | $1.1B | ||
| Q4 24 | $71.0M | $567.0M | ||
| Q3 24 | $236.0M | $1.1B | ||
| Q2 24 | $220.0M | $768.0M |
毛利率ALKBIDU
| Q1 26 | — | — | ||
| Q4 25 | — | 41.0% | ||
| Q3 25 | — | 41.2% | ||
| Q2 25 | — | 43.9% | ||
| Q1 25 | — | 46.1% | ||
| Q4 24 | — | 49.9% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 51.7% |
营业利润率ALKBIDU
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 4.1% | ||
| Q3 25 | 3.9% | -48.4% | ||
| Q2 25 | 7.5% | 10.0% | ||
| Q1 25 | -6.3% | 13.9% | ||
| Q4 24 | 2.1% | 11.1% | ||
| Q3 24 | 11.1% | 17.6% | ||
| Q2 24 | 11.1% | 17.5% |
净利率ALKBIDU
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 6.0% | ||
| Q3 25 | 1.9% | -36.3% | ||
| Q2 25 | 4.6% | 22.2% | ||
| Q1 25 | -5.3% | 24.1% | ||
| Q4 24 | 2.0% | 12.8% | ||
| Q3 24 | 7.7% | 23.2% | ||
| Q2 24 | 7.6% | 16.4% |
每股收益（稀释后）ALKBIDU
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $0.53 | ||
| Q3 25 | $0.62 | $-4.76 | ||
| Q2 25 | $1.42 | $2.84 | ||
| Q1 25 | $-1.35 | $2.98 | ||
| Q4 24 | $0.58 | $1.95 | ||
| Q3 24 | $1.84 | $3.08 | ||
| Q2 24 | $1.71 | — |
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 | $451.0M | $16.5B |
| 总债务越低越好 | $5.3B | $5.9B |
| 股东权益账面价值 | $3.7B | $38.1B |
| 总资产 | $20.3B | $64.2B |
| 负债/权益比越低杠杆越低 | 1.43× | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资ALKBIDU
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $16.5B | ||
| Q3 25 | $2.3B | $17.5B | ||
| Q2 25 | $2.1B | $17.3B | ||
| Q1 25 | $2.5B | $19.5B | ||
| Q4 24 | $2.5B | $17.5B | ||
| Q3 24 | $2.5B | $18.9B | ||
| Q2 24 | $2.5B | — |
总债务ALKBIDU
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $5.9B | ||
| Q3 25 | $5.0B | $2.5B | ||
| Q2 25 | $4.9B | $2.4B | ||
| Q1 25 | $4.8B | $2.3B | ||
| Q4 24 | $4.5B | $4.9B | ||
| Q3 24 | $4.6B | $2.1B | ||
| Q2 24 | $2.7B | — |
股东权益ALKBIDU
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $38.1B | ||
| Q3 25 | $4.0B | $38.6B | ||
| Q2 25 | $3.9B | $39.8B | ||
| Q1 25 | $4.1B | $38.6B | ||
| Q4 24 | $4.4B | $36.1B | ||
| Q3 24 | $4.5B | $38.5B | ||
| Q2 24 | $4.2B | — |
总资产ALKBIDU
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $64.2B | ||
| Q3 25 | $20.0B | $62.4B | ||
| Q2 25 | $19.9B | $62.9B | ||
| Q1 25 | $19.8B | $62.6B | ||
| Q4 24 | $19.8B | $58.6B | ||
| Q3 24 | $19.6B | $59.5B | ||
| Q2 24 | $15.3B | — |
负债/权益比ALKBIDU
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | 0.16× | ||
| Q3 25 | 1.24× | 0.07× | ||
| Q2 25 | 1.26× | 0.06× | ||
| Q1 25 | 1.16× | 0.06× | ||
| Q4 24 | 1.04× | 0.14× | ||
| Q3 24 | 1.03× | 0.05× | ||
| Q2 24 | 0.63× | — |
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 | $229.0M | $1.5B |
| 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 | 10.2% | — |
| 现金转化率经营现金流/净利润 | — | 5.08× |
| 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ALKBIDU
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $1.5B | ||
| Q3 25 | $229.0M | — | ||
| Q2 25 | $376.0M | $-6.3B | ||
| Q1 25 | $459.0M | — | ||
| Q4 24 | $274.0M | $4.0B | ||
| Q3 24 | $318.0M | — | ||
| Q2 24 | $580.0M | $5.3B |
资本支出强度ALKBIDU
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率ALKBIDU
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 5.08× | ||
| Q3 25 | 3.14× | — | ||
| Q2 25 | 2.19× | -6.26× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.86× | 7.12× | ||
| Q3 24 | 1.35× | — | ||
| Q2 24 | 2.64× | 6.88× |
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
ALK
| Passenger revenue | $2.9B | 88% |
| Loyalty program other revenue | $227.0M | 7% |
| Cargo and other revenue | $153.0M | 5% |
BIDU
| Legacy Business | $1.8B | 35% |
| Baidu Core AI-powered Business | $1.6B | 32% |
| Other | $1.3B | 26% |
| Others | $357.5M | 7% |
