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阿拉斯加航空集团（ALK）与CMS Energy（CMS）财务数据对比。点击上方公司名可切换其他公司
阿拉斯加航空集团的季度营收约是CMS Energy的1.5倍（$3.3B vs $2.1B），CMS Energy净利率更高（13.5% vs -5.8%，领先19.4%），CMS Energy同比增速更快（13.0% vs 5.2%），过去两年阿拉斯加航空集团的营收复合增速更高（6.7% vs -0.2%）
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。
CMS Energy是总部位于美国密歇根州杰克逊市的能源企业，业务核心聚焦密歇根州公用事业运营。旗下核心主体Consumers Energy成立于1886年，为全州超600万居民提供电力及天然气服务，非公用事业板块则主要开展美国本土独立发电业务。
ALK vs CMS — 直观对比
营收规模更大
ALK
是对方的1.5倍
$2.1B
营收增速更快
CMS
高出7.8%
5.2%
净利率更高
CMS
高出19.4%
-5.8%
两年增速更快
ALK
近两年复合增速
-0.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.1B |
| 净利润 | $-193.0M | $289.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 20.4% |
| 净利率 | -5.8% | 13.5% |
| 营收同比 | 5.2% | 13.0% |
| 净利润同比 | -16.3% | 9.1% |
| 每股收益（稀释后） | $-1.69 | $0.94 |
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ALKCMS
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.6B | $2.1B | ||
| Q3 25 | $3.8B | $2.0B | ||
| Q2 25 | $3.7B | $1.8B | ||
| Q1 25 | $3.1B | $2.4B | ||
| Q4 24 | $3.5B | $1.9B | ||
| Q3 24 | $3.1B | $1.7B | ||
| Q2 24 | $2.9B | $1.6B |
净利润ALKCMS
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $289.0M | ||
| Q3 25 | $73.0M | $277.0M | ||
| Q2 25 | $172.0M | $201.0M | ||
| Q1 25 | $-166.0M | $304.0M | ||
| Q4 24 | $71.0M | $265.0M | ||
| Q3 24 | $236.0M | $253.0M | ||
| Q2 24 | $220.0M | $198.0M |
营业利润率ALKCMS
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 20.4% | ||
| Q3 25 | 3.9% | 24.4% | ||
| Q2 25 | 7.5% | 17.6% | ||
| Q1 25 | -6.3% | 20.6% | ||
| Q4 24 | 2.1% | 22.5% | ||
| Q3 24 | 11.1% | 21.4% | ||
| Q2 24 | 11.1% | 18.0% |
净利率ALKCMS
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 13.5% | ||
| Q3 25 | 1.9% | 14.0% | ||
| Q2 25 | 4.6% | 11.2% | ||
| Q1 25 | -5.3% | 12.7% | ||
| Q4 24 | 2.0% | 14.0% | ||
| Q3 24 | 7.7% | 14.8% | ||
| Q2 24 | 7.6% | 12.6% |
每股收益（稀释后）ALKCMS
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $0.94 | ||
| Q3 25 | $0.62 | $0.92 | ||
| Q2 25 | $1.42 | $0.66 | ||
| Q1 25 | $-1.35 | $1.01 | ||
| Q4 24 | $0.58 | $0.88 | ||
| Q3 24 | $1.84 | $0.84 | ||
| Q2 24 | $1.71 | $0.65 |
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 | $509.0M |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $3.7B | $9.1B |
| 总资产 | $20.3B | $39.9B |
| 负债/权益比越低杠杆越低 | 1.43× | — |
8季度趋势，按日历期对齐
现金及短期投资ALKCMS
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $509.0M | ||
| Q3 25 | $2.3B | $362.0M | ||
| Q2 25 | $2.1B | $844.0M | ||
| Q1 25 | $2.5B | $465.0M | ||
| Q4 24 | $2.5B | $103.0M | ||
| Q3 24 | $2.5B | $412.0M | ||
| Q2 24 | $2.5B | $699.0M |
总债务ALKCMS
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $4.9B | — | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.7B | — |
股东权益ALKCMS
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $9.1B | ||
| Q3 25 | $4.0B | $8.9B | ||
| Q2 25 | $3.9B | $8.4B | ||
| Q1 25 | $4.1B | $8.3B | ||
| Q4 24 | $4.4B | $8.2B | ||
| Q3 24 | $4.5B | $8.1B | ||
| Q2 24 | $4.2B | $8.0B |
总资产ALKCMS
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $39.9B | ||
| Q3 25 | $20.0B | $38.0B | ||
| Q2 25 | $19.9B | $37.7B | ||
| Q1 25 | $19.8B | $36.3B | ||
| Q4 24 | $19.8B | $35.9B | ||
| Q3 24 | $19.6B | $34.8B | ||
| Q2 24 | $15.3B | $34.4B |
负债/权益比ALKCMS
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | — | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 1.26× | — | ||
| Q1 25 | 1.16× | — | ||
| Q4 24 | 1.04× | — | ||
| Q3 24 | 1.03× | — | ||
| 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 | $478.0M |
| 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 | — | 1.65× |
| 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ALKCMS
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $478.0M | ||
| Q3 25 | $229.0M | $343.0M | ||
| Q2 25 | $376.0M | $414.0M | ||
| Q1 25 | $459.0M | $1.0B | ||
| Q4 24 | $274.0M | $403.0M | ||
| Q3 24 | $318.0M | $304.0M | ||
| Q2 24 | $580.0M | $707.0M |
自由现金流ALKCMS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $-635.0M | ||
| Q2 25 | — | $-470.0M | ||
| Q1 25 | — | $112.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-502.0M | ||
| Q2 24 | — | $26.0M |
自由现金流率ALKCMS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -32.2% | ||
| Q2 25 | — | -26.1% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -29.3% | ||
| Q2 24 | — | 1.6% |
资本支出强度ALKCMS
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 49.5% | ||
| Q2 25 | — | 49.2% | ||
| Q1 25 | — | 37.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 47.1% | ||
| Q2 24 | — | 43.2% |
现金转化率ALKCMS
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 1.65× | ||
| Q3 25 | 3.14× | 1.24× | ||
| Q2 25 | 2.19× | 2.06× | ||
| Q1 25 | — | 3.29× | ||
| Q4 24 | 3.86× | 1.52× | ||
| Q3 24 | 1.35× | 1.20× | ||
| Q2 24 | 2.64× | 3.57× |
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% |
CMS
| Electric Utility | $1.3B | 59% |
| Gas Utility | $803.0M | 38% |
| North Star Clean Energy | $77.0M | 4% |
