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阿拉斯加航空集团（ALK）与百胜中国（YUMC）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百胜中国的1.2倍（$3.3B vs $2.8B），百胜中国净利率更高（5.0% vs -5.8%，领先10.8%），百胜中国同比增速更快（8.8% 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 -2.3%）
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。
百胜中国是总部位于上海的世界500强快餐企业，2016年从百胜餐饮集团分拆独立上市，获百胜餐饮集团商标授权，按全系统销售额的3%支付授权费。目前在国内1100多座城市运营超8400家餐厅，全球门店总数超10600家，年营收达95亿美元，是全球规模最大的餐饮企业之一。
ALK vs YUMC — 直观对比
营收规模更大
ALK
是对方的1.2倍
$2.8B
营收增速更快
YUMC
高出3.6%
5.2%
净利率更高
YUMC
高出10.8%
-5.8%
两年增速更快
ALK
近两年复合增速
-2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.8B |
| 净利润 | $-193.0M | $140.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 6.6% |
| 净利率 | -5.8% | 5.0% |
| 营收同比 | 5.2% | 8.8% |
| 净利润同比 | -16.3% | 21.7% |
| 每股收益（稀释后） | $-1.69 | $0.40 |
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ALKYUMC
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.6B | $2.8B | ||
| Q3 25 | $3.8B | $3.2B | ||
| Q2 25 | $3.7B | $2.8B | ||
| Q1 25 | $3.1B | $3.0B | ||
| Q4 24 | $3.5B | $2.6B | ||
| Q3 24 | $3.1B | $3.1B | ||
| Q2 24 | $2.9B | $2.7B |
净利润ALKYUMC
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $140.0M | ||
| Q3 25 | $73.0M | $282.0M | ||
| Q2 25 | $172.0M | $215.0M | ||
| Q1 25 | $-166.0M | $292.0M | ||
| Q4 24 | $71.0M | $115.0M | ||
| Q3 24 | $236.0M | $297.0M | ||
| Q2 24 | $220.0M | $212.0M |
营业利润率ALKYUMC
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 6.6% | ||
| Q3 25 | 3.9% | 12.5% | ||
| Q2 25 | 7.5% | 10.9% | ||
| Q1 25 | -6.3% | 13.4% | ||
| Q4 24 | 2.1% | 5.8% | ||
| Q3 24 | 11.1% | 12.1% | ||
| Q2 24 | 11.1% | 9.9% |
净利率ALKYUMC
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 5.0% | ||
| Q3 25 | 1.9% | 8.8% | ||
| Q2 25 | 4.6% | 7.7% | ||
| Q1 25 | -5.3% | 9.8% | ||
| Q4 24 | 2.0% | 4.4% | ||
| Q3 24 | 7.7% | 9.7% | ||
| Q2 24 | 7.6% | 7.9% |
每股收益（稀释后）ALKYUMC
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $0.40 | ||
| Q3 25 | $0.62 | $0.76 | ||
| Q2 25 | $1.42 | $0.58 | ||
| Q1 25 | $-1.35 | $0.77 | ||
| Q4 24 | $0.58 | $0.30 | ||
| Q3 24 | $1.84 | $0.77 | ||
| Q2 24 | $1.71 | $0.55 |
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 | $1.4B |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $3.7B | $5.4B |
| 总资产 | $20.3B | $10.8B |
| 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ALKYUMC
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $1.4B | ||
| Q3 25 | $2.3B | $2.1B | ||
| Q2 25 | $2.1B | $2.2B | ||
| Q1 25 | $2.5B | $2.0B | ||
| Q4 24 | $2.5B | $1.8B | ||
| Q3 24 | $2.5B | $2.5B | ||
| Q2 24 | $2.5B | $2.5B |
总债务ALKYUMC
| 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ALKYUMC
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $5.4B | ||
| Q3 25 | $4.0B | $5.7B | ||
| Q2 25 | $3.9B | $5.8B | ||
| Q1 25 | $4.1B | $5.8B | ||
| Q4 24 | $4.4B | $5.7B | ||
| Q3 24 | $4.5B | $6.0B | ||
| Q2 24 | $4.2B | $5.8B |
总资产ALKYUMC
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $10.8B | ||
| Q3 25 | $20.0B | $11.0B | ||
| Q2 25 | $19.9B | $11.0B | ||
| Q1 25 | $19.8B | $11.0B | ||
| Q4 24 | $19.8B | $11.1B | ||
| Q3 24 | $19.6B | $11.8B | ||
| Q2 24 | $15.3B | $11.6B |
负债/权益比ALKYUMC
| 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 | $125.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-116.0M |
| 自由现金流率自由现金流/营收 | — | -4.1% |
| 资本支出强度资本支出/营收 | 10.2% | 8.5% |
| 现金转化率经营现金流/净利润 | — | 0.89× |
| 过去12个月自由现金流最近4个季度 | — | $840.0M |
8季度趋势，按日历期对齐
经营现金流ALKYUMC
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $125.0M | ||
| Q3 25 | $229.0M | $477.0M | ||
| Q2 25 | $376.0M | $412.0M | ||
| Q1 25 | $459.0M | $452.0M | ||
| Q4 24 | $274.0M | $167.0M | ||
| Q3 24 | $318.0M | $409.0M | ||
| Q2 24 | $580.0M | $401.0M |
自由现金流ALKYUMC
| Q1 26 | — | — | ||
| Q4 25 | — | $-116.0M | ||
| Q3 25 | — | $351.0M | ||
| Q2 25 | — | $290.0M | ||
| Q1 25 | — | $315.0M | ||
| Q4 24 | — | $-15.0M | ||
| Q3 24 | — | $244.0M | ||
| Q2 24 | — | $232.0M |
自由现金流率ALKYUMC
| Q1 26 | — | — | ||
| Q4 25 | — | -4.1% | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 10.6% | ||
| Q4 24 | — | -0.6% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | — | 8.7% |
资本支出强度ALKYUMC
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 8.5% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 4.4% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | — | 5.4% | ||
| Q2 24 | — | 6.3% |
现金转化率ALKYUMC
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 0.89× | ||
| Q3 25 | 3.14× | 1.69× | ||
| Q2 25 | 2.19× | 1.92× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | 3.86× | 1.45× | ||
| Q3 24 | 1.35× | 1.38× | ||
| Q2 24 | 2.64× | 1.89× |
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% |
YUMC
| Revenue From External Customers | $2.1B | 75% |
| Pizza Hut | $540.0M | 19% |
| Corporate And Unallocated | $105.0M | 4% |
| Other Revenue | $45.0M | 2% |
| Franchise Fees And Income | $25.0M | 1% |
