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阿拉斯加航空集团（ALK）与FirstEnergy（FE）财务数据对比。点击上方公司名可切换其他公司
FirstEnergy的季度营收约是阿拉斯加航空集团的1.2倍（$3.8B vs $3.3B），FirstEnergy净利率更高（-1.3% vs -5.8%，领先4.6%），FirstEnergy同比增速更快（19.6% vs 5.2%），过去两年FirstEnergy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。
FirstEnergy Corp是总部位于美国俄亥俄州阿克伦市的电力公用事业企业，主营电力供应、电网运营相关业务，于1997年由俄亥俄爱迪生公司与森特里奥尔能源公司合并组建，是美国中西部地区颇具影响力的公共事业服务商。
ALK vs FE — 直观对比
营收规模更大
FE
是对方的1.2倍
$3.3B
营收增速更快
FE
高出14.4%
5.2%
净利率更高
FE
高出4.6%
-5.8%
两年增速更快
FE
近两年复合增速
6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $3.8B |
| 净利润 | $-193.0M | $-49.0M |
| 毛利率 | — | — |
| 营业利润率 | -8.5% | -0.6% |
| 净利率 | -5.8% | -1.3% |
| 营收同比 | 5.2% | 19.6% |
| 净利润同比 | — | -118.8% |
| 每股收益（稀释后） | $-1.69 | $-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ALKFE
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.6B | $3.8B | ||
| Q3 25 | $3.8B | $4.1B | ||
| Q2 25 | $3.7B | $3.4B | ||
| Q1 25 | $3.1B | $3.8B | ||
| Q4 24 | $3.5B | $3.2B | ||
| Q3 24 | $3.1B | $3.7B | ||
| Q2 24 | $2.9B | $3.3B |
净利润ALKFE
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $-49.0M | ||
| Q3 25 | $73.0M | $441.0M | ||
| Q2 25 | $172.0M | $268.0M | ||
| Q1 25 | $-166.0M | $360.0M | ||
| Q4 24 | $71.0M | $261.0M | ||
| Q3 24 | $236.0M | $419.0M | ||
| Q2 24 | $220.0M | $45.0M |
营业利润率ALKFE
| Q1 26 | -8.5% | — | ||
| Q4 25 | 2.1% | -0.6% | ||
| Q3 25 | 3.9% | 20.0% | ||
| Q2 25 | 7.5% | 19.1% | ||
| Q1 25 | -6.3% | 20.0% | ||
| Q4 24 | 2.1% | 19.3% | ||
| Q3 24 | 11.1% | 19.5% | ||
| Q2 24 | 11.1% | 12.9% |
净利率ALKFE
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | -1.3% | ||
| Q3 25 | 1.9% | 10.6% | ||
| Q2 25 | 4.6% | 7.9% | ||
| Q1 25 | -5.3% | 9.6% | ||
| Q4 24 | 2.0% | 8.2% | ||
| Q3 24 | 7.7% | 11.2% | ||
| Q2 24 | 7.6% | 1.4% |
每股收益（稀释后）ALKFE
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $-0.08 | ||
| Q3 25 | $0.62 | $0.76 | ||
| Q2 25 | $1.42 | $0.46 | ||
| Q1 25 | $-1.35 | $0.62 | ||
| Q4 24 | $0.58 | $0.45 | ||
| Q3 24 | $1.84 | $0.73 | ||
| Q2 24 | $1.71 | $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 | $451.0M | $57.0M |
| 总债务越低越好 | $5.3B | $25.5B |
| 股东权益账面价值 | $3.7B | $12.5B |
| 总资产 | $20.3B | $55.9B |
| 负债/权益比越低杠杆越低 | 1.43× | 2.04× |
8季度趋势，按日历期对齐
现金及短期投资ALKFE
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $57.0M | ||
| Q3 25 | $2.3B | $1.4B | ||
| Q2 25 | $2.1B | $569.0M | ||
| Q1 25 | $2.5B | $132.0M | ||
| Q4 24 | $2.5B | $111.0M | ||
| Q3 24 | $2.5B | $439.0M | ||
| Q2 24 | $2.5B | $60.0M |
总债务ALKFE
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $25.5B | ||
| Q3 25 | $5.0B | $25.5B | ||
| Q2 25 | $4.9B | $23.7B | ||
| Q1 25 | $4.8B | $21.2B | ||
| Q4 24 | $4.5B | $22.5B | ||
| Q3 24 | $4.6B | $21.6B | ||
| Q2 24 | $2.7B | $20.8B |
股东权益ALKFE
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $12.5B | ||
| Q3 25 | $4.0B | $12.8B | ||
| Q2 25 | $3.9B | $12.9B | ||
| Q1 25 | $4.1B | $12.6B | ||
| Q4 24 | $4.4B | $12.5B | ||
| Q3 24 | $4.5B | $12.4B | ||
| Q2 24 | $4.2B | $12.5B |
总资产ALKFE
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $55.9B | ||
| Q3 25 | $20.0B | $55.9B | ||
| Q2 25 | $19.9B | $54.2B | ||
| Q1 25 | $19.8B | $52.8B | ||
| Q4 24 | $19.8B | $52.0B | ||
| Q3 24 | $19.6B | $50.8B | ||
| Q2 24 | $15.3B | $51.0B |
负债/权益比ALKFE
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | 2.04× | ||
| Q3 25 | 1.24× | 1.99× | ||
| Q2 25 | 1.26× | 1.85× | ||
| Q1 25 | 1.16× | 1.69× | ||
| Q4 24 | 1.04× | 1.81× | ||
| Q3 24 | 1.03× | 1.74× | ||
| Q2 24 | 0.63× | 1.67× |
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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | — | $-30.0M |
| 自由现金流率自由现金流/营收 | — | -0.8% |
| 资本支出强度资本支出/营收 | 10.2% | 30.7% |
| 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 | — | $-1.0B |
8季度趋势，按日历期对齐
经营现金流ALKFE
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $1.1B | ||
| Q3 25 | $229.0M | $845.0M | ||
| Q2 25 | $376.0M | $1.1B | ||
| Q1 25 | $459.0M | $637.0M | ||
| Q4 24 | $274.0M | $1.0B | ||
| Q3 24 | $318.0M | $775.0M | ||
| Q2 24 | $580.0M | $1.1B |
自由现金流ALKFE
| Q1 26 | — | — | ||
| Q4 25 | — | $-30.0M | ||
| Q3 25 | — | $-471.0M | ||
| Q2 25 | — | $-136.0M | ||
| Q1 25 | — | $-368.0M | ||
| Q4 24 | — | $-250.0M | ||
| Q3 24 | — | $-229.0M | ||
| Q2 24 | — | $170.0M |
自由现金流率ALKFE
| Q1 26 | — | — | ||
| Q4 25 | — | -0.8% | ||
| Q3 25 | — | -11.4% | ||
| Q2 25 | — | -4.0% | ||
| Q1 25 | — | -9.8% | ||
| Q4 24 | — | -7.9% | ||
| Q3 24 | — | -6.1% | ||
| Q2 24 | — | 5.2% |
资本支出强度ALKFE
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 30.7% | ||
| Q3 25 | — | 31.7% | ||
| Q2 25 | — | 36.0% | ||
| Q1 25 | — | 26.7% | ||
| Q4 24 | — | 40.7% | ||
| Q3 24 | — | 26.9% | ||
| Q2 24 | — | 28.7% |
现金转化率ALKFE
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | — | ||
| Q3 25 | 3.14× | 1.92× | ||
| Q2 25 | 2.19× | 4.04× | ||
| Q1 25 | — | 1.77× | ||
| Q4 24 | 3.86× | 4.00× | ||
| Q3 24 | 1.35× | 1.85× | ||
| Q2 24 | 2.64× | 24.71× |
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% |
FE
| Integrated Segment | $1.4B | 37% |
| Other | $1.4B | 36% |
| Stand Alone Transmission Segment | $466.0M | 12% |
| Industrial Customers | $167.0M | 4% |
| Mid Atlantic Interstate Transmission LLC | $118.0M | 3% |
| Transmission | $105.0M | 3% |
| Transmission Segment | $68.0M | 2% |
| Tr AIL | $63.0M | 2% |
| Internal Customers | $10.0M | 0% |
| Wholesale Sales | $6.0M | 0% |
