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阿拉斯加航空集团（ALK）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是阿拉斯加航空集团的1.3倍（$4.4B vs $3.3B），标普全球净利率更高（26.8% vs -5.8%，领先32.6%），标普全球同比增速更快（191.7% vs 5.2%），过去两年标普全球的营收复合增速更高（77.3% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
ALK vs VG — 直观对比
营收规模更大
VG
是对方的1.3倍
$3.3B
营收增速更快
VG
高出186.5%
5.2%
净利率更高
VG
高出32.6%
-5.8%
两年增速更快
VG
近两年复合增速
6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $4.4B |
| 净利润 | $-193.0M | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | -8.5% | 38.7% |
| 净利率 | -5.8% | 26.8% |
| 营收同比 | 5.2% | 191.7% |
| 净利润同比 | — | 20.3% |
| 每股收益（稀释后） | $-1.69 | $0.41 |
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ALKVG
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.6B | $4.4B | ||
| Q3 25 | $3.8B | $3.3B | ||
| Q2 25 | $3.7B | $3.1B | ||
| Q1 25 | $3.1B | $2.9B | ||
| Q4 24 | $3.5B | $1.5B | ||
| Q3 24 | $3.1B | $926.0M | ||
| Q2 24 | $2.9B | $1.1B |
净利润ALKVG
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $1.2B | ||
| Q3 25 | $73.0M | $550.0M | ||
| Q2 25 | $172.0M | $475.0M | ||
| Q1 25 | $-166.0M | $517.0M | ||
| Q4 24 | $71.0M | $990.0M | ||
| Q3 24 | $236.0M | $-294.0M | ||
| Q2 24 | $220.0M | $352.0M |
营业利润率ALKVG
| Q1 26 | -8.5% | — | ||
| Q4 25 | 2.1% | 38.7% | ||
| Q3 25 | 3.9% | 39.7% | ||
| Q2 25 | 7.5% | 33.5% | ||
| Q1 25 | -6.3% | 37.3% | ||
| Q4 24 | 2.1% | 39.0% | ||
| Q3 24 | 11.1% | 20.4% | ||
| Q2 24 | 11.1% | 32.8% |
净利率ALKVG
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 26.8% | ||
| Q3 25 | 1.9% | 16.5% | ||
| Q2 25 | 4.6% | 15.3% | ||
| Q1 25 | -5.3% | 17.9% | ||
| Q4 24 | 2.0% | 65.0% | ||
| Q3 24 | 7.7% | -31.7% | ||
| Q2 24 | 7.6% | 31.8% |
每股收益（稀释后）ALKVG
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $0.41 | ||
| Q3 25 | $0.62 | $0.16 | ||
| Q2 25 | $1.42 | $0.14 | ||
| Q1 25 | $-1.35 | $0.15 | ||
| Q4 24 | $0.58 | $0.35 | ||
| Q3 24 | $1.84 | $-0.15 | ||
| Q2 24 | $1.71 | $0.12 |
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 | $2.4B |
| 总债务越低越好 | $5.3B | $34.2B |
| 股东权益账面价值 | $3.7B | $6.7B |
| 总资产 | $20.3B | $53.4B |
| 负债/权益比越低杠杆越低 | 1.43× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资ALKVG
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $2.4B | ||
| Q3 25 | $2.3B | $1.9B | ||
| Q2 25 | $2.1B | $2.2B | ||
| Q1 25 | $2.5B | $3.6B | ||
| Q4 24 | $2.5B | $3.6B | ||
| Q3 24 | $2.5B | — | ||
| Q2 24 | $2.5B | — |
总债务ALKVG
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $34.2B | ||
| Q3 25 | $5.0B | $32.6B | ||
| Q2 25 | $4.9B | $30.0B | ||
| Q1 25 | $4.8B | $29.3B | ||
| Q4 24 | $4.5B | $29.3B | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.7B | — |
股东权益ALKVG
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $6.7B | ||
| Q3 25 | $4.0B | $5.7B | ||
| Q2 25 | $3.9B | $5.3B | ||
| Q1 25 | $4.1B | $4.9B | ||
| Q4 24 | $4.4B | $2.9B | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $4.2B | — |
总资产ALKVG
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $53.4B | ||
| Q3 25 | $20.0B | $50.1B | ||
| Q2 25 | $19.9B | $46.5B | ||
| Q1 25 | $19.8B | $45.1B | ||
| Q4 24 | $19.8B | $43.5B | ||
| Q3 24 | $19.6B | — | ||
| Q2 24 | $15.3B | — |
负债/权益比ALKVG
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | 5.07× | ||
| Q3 25 | 1.24× | 5.73× | ||
| Q2 25 | 1.26× | 5.69× | ||
| Q1 25 | 1.16× | 6.01× | ||
| Q4 24 | 1.04× | 10.11× | ||
| 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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | — | $-1.5B |
| 自由现金流率自由现金流/营收 | — | -34.1% |
| 资本支出强度资本支出/营收 | 10.2% | 81.6% |
| 现金转化率经营现金流/净利润 | — | 1.77× |
| 过去12个月自由现金流最近4个季度 | — | $-6.8B |
8季度趋势，按日历期对齐
经营现金流ALKVG
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $2.1B | ||
| Q3 25 | $229.0M | $1.9B | ||
| Q2 25 | $376.0M | $1.5B | ||
| Q1 25 | $459.0M | $1.1B | ||
| Q4 24 | $274.0M | — | ||
| Q3 24 | $318.0M | — | ||
| Q2 24 | $580.0M | — |
自由现金流ALKVG
| Q1 26 | — | — | ||
| Q4 25 | — | $-1.5B | ||
| Q3 25 | — | $-1.4B | ||
| Q2 25 | — | $-1.5B | ||
| Q1 25 | — | $-2.4B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率ALKVG
| Q1 26 | — | — | ||
| Q4 25 | — | -34.1% | ||
| Q3 25 | — | -42.4% | ||
| Q2 25 | — | -49.1% | ||
| Q1 25 | — | -81.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度ALKVG
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 81.6% | ||
| Q3 25 | — | 98.9% | ||
| Q2 25 | — | 96.1% | ||
| Q1 25 | — | 119.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率ALKVG
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 1.77× | ||
| Q3 25 | 3.14× | 3.42× | ||
| Q2 25 | 2.19× | 3.07× | ||
| Q1 25 | — | 2.15× | ||
| Q4 24 | 3.86× | — | ||
| Q3 24 | 1.35× | — | ||
| Q2 24 | 2.64× | — |
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% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
