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艾里逊变速箱控股公司（ALSN）与ASSOCIATED BANC-CORP（ASB）财务数据对比。点击上方公司名可切换其他公司
艾里逊变速箱控股公司的季度营收约是ASSOCIATED BANC-CORP的1.9倍（$737.0M vs $383.0M），ASSOCIATED BANC-CORP净利率更高（31.2% vs 13.4%，领先17.8%），过去两年ASSOCIATED BANC-CORP的营收复合增速更高（9.1% vs -3.4%）
艾里逊变速箱控股公司是美国商用自动变速箱及混合动力推进系统生产商，产品获全球250余家整车厂商指定采用，广泛应用于公交、环卫、消防、工程建设、物流配送、军工等多个领域及特种作业场景。
联合银行集团（Associated Banc-Corp）是美国区域性银行控股公司，总部位于威斯康星州格林贝，深耕美国中西部地区，主营零售银行、商业银行、商业地产贷款、私人银行及特色金融服务，在威斯康星州、伊利诺伊州、明尼苏达州设有220多个营业网点，覆盖100多个社区，还在印第安纳、密歇根等多州设有贷款办事处。
ALSN vs ASB — 直观对比
营收规模更大
ALSN
是对方的1.9倍
$383.0M
净利率更高
ASB
高出17.8%
13.4%
两年增速更快
ASB
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $737.0M | $383.0M |
| 净利润 | $99.0M | $119.6M |
| 毛利率 | 48.0% | — |
| 营业利润率 | 23.2% | — |
| 净利率 | 13.4% | 31.2% |
| 营收同比 | -7.4% | — |
| 净利润同比 | -43.4% | 566.6% |
| 每股收益（稀释后） | $1.18 | $0.70 |
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ALSNASB
| Q1 26 | — | $383.0M | ||
| Q4 25 | $737.0M | $310.0M | ||
| Q3 25 | $693.0M | $305.2M | ||
| Q2 25 | $814.0M | $300.0M | ||
| Q1 25 | $766.0M | $285.9M | ||
| Q4 24 | $796.0M | $270.3M | ||
| Q3 24 | $824.0M | $329.7M | ||
| Q2 24 | $816.0M | $321.8M |
净利润ALSNASB
| Q1 26 | — | $119.6M | ||
| Q4 25 | $99.0M | $137.1M | ||
| Q3 25 | $137.0M | $124.7M | ||
| Q2 25 | $195.0M | $111.2M | ||
| Q1 25 | $192.0M | $101.7M | ||
| Q4 24 | $175.0M | $-161.6M | ||
| Q3 24 | $200.0M | $88.0M | ||
| Q2 24 | $187.0M | $115.6M |
毛利率ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | 48.0% | — | ||
| Q3 25 | 47.5% | — | ||
| Q2 25 | 49.4% | — | ||
| Q1 25 | 49.3% | — | ||
| Q4 24 | 46.9% | — | ||
| Q3 24 | 48.1% | — | ||
| Q2 24 | 48.3% | — |
营业利润率ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | 23.2% | 52.6% | ||
| Q3 25 | 29.4% | 50.5% | ||
| Q2 25 | 31.4% | 46.5% | ||
| Q1 25 | 32.5% | 42.3% | ||
| Q4 24 | 29.5% | -65.8% | ||
| Q3 24 | 31.6% | 32.8% | ||
| Q2 24 | 32.2% | 32.0% |
净利率ALSNASB
| Q1 26 | — | 31.2% | ||
| Q4 25 | 13.4% | 44.2% | ||
| Q3 25 | 19.8% | 40.9% | ||
| Q2 25 | 24.0% | 37.1% | ||
| Q1 25 | 25.1% | 35.6% | ||
| Q4 24 | 22.0% | -59.8% | ||
| Q3 24 | 24.3% | 26.7% | ||
| Q2 24 | 22.9% | 35.9% |
每股收益（稀释后）ALSNASB
| Q1 26 | — | $0.70 | ||
| Q4 25 | $1.18 | $0.80 | ||
| Q3 25 | $1.63 | $0.73 | ||
| Q2 25 | $2.29 | $0.65 | ||
| Q1 25 | $2.23 | $0.59 | ||
| Q4 24 | $2.01 | $-1.10 | ||
| Q3 24 | $2.27 | $0.56 | ||
| Q2 24 | $2.13 | $0.74 |
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 | $1.5B | — |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $1.9B | $5.0B |
| 总资产 | $6.1B | $45.6B |
| 负债/权益比越低杠杆越低 | 1.56× | — |
8季度趋势，按日历期对齐
现金及短期投资ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $902.0M | — | ||
| Q2 25 | $778.0M | — | ||
| Q1 25 | $753.0M | — | ||
| Q4 24 | $781.0M | — | ||
| Q3 24 | $788.0M | — | ||
| Q2 24 | $648.0M | — |
总债务ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | $2.9B | $1.0B | ||
| Q3 25 | $2.4B | $594.1M | ||
| Q2 25 | $2.4B | $593.5M | ||
| Q1 25 | $2.4B | $591.4M | ||
| Q4 24 | $2.4B | $1.4B | ||
| Q3 24 | $2.4B | $844.3M | ||
| Q2 24 | $2.4B | $536.1M |
股东权益ALSNASB
| Q1 26 | — | $5.0B | ||
| Q4 25 | $1.9B | $5.0B | ||
| Q3 25 | $1.8B | $4.9B | ||
| Q2 25 | $1.8B | $4.8B | ||
| Q1 25 | $1.7B | $4.7B | ||
| Q4 24 | $1.7B | $4.6B | ||
| Q3 24 | $1.6B | $4.4B | ||
| Q2 24 | $1.5B | $4.2B |
总资产ALSNASB
| Q1 26 | — | $45.6B | ||
| Q4 25 | $6.1B | $45.2B | ||
| Q3 25 | $5.5B | $44.5B | ||
| Q2 25 | $5.4B | $44.0B | ||
| Q1 25 | $5.4B | $43.3B | ||
| Q4 24 | $5.3B | $43.0B | ||
| Q3 24 | $5.4B | $42.2B | ||
| Q2 24 | $5.2B | $41.6B |
负债/权益比ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | 1.56× | 0.20× | ||
| Q3 25 | 1.31× | 0.12× | ||
| Q2 25 | 1.38× | 0.12× | ||
| Q1 25 | 1.45× | 0.13× | ||
| Q4 24 | 1.46× | 0.31× | ||
| Q3 24 | 1.49× | 0.19× | ||
| Q2 24 | 1.63× | 0.13× |
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 | $243.0M | — |
| 自由现金流经营现金流 - 资本支出 | $169.0M | — |
| 自由现金流率自由现金流/营收 | 22.9% | — |
| 资本支出强度资本支出/营收 | 10.0% | — |
| 现金转化率经营现金流/净利润 | 2.45× | — |
| 过去12个月自由现金流最近4个季度 | $661.0M | — |
8季度趋势，按日历期对齐
经营现金流ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | $243.0M | $218.1M | ||
| Q3 25 | $228.0M | $158.0M | ||
| Q2 25 | $184.0M | $141.5M | ||
| Q1 25 | $181.0M | $98.2M | ||
| Q4 24 | $211.0M | $207.1M | ||
| Q3 24 | $246.0M | $105.1M | ||
| Q2 24 | $171.0M | $113.5M |
自由现金流ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | $169.0M | — | ||
| Q3 25 | $184.0M | — | ||
| Q2 25 | $153.0M | — | ||
| Q1 25 | $155.0M | — | ||
| Q4 24 | $136.0M | — | ||
| Q3 24 | $210.0M | — | ||
| Q2 24 | $150.0M | — |
自由现金流率ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | 22.9% | — | ||
| Q3 25 | 26.6% | — | ||
| Q2 25 | 18.8% | — | ||
| Q1 25 | 20.2% | — | ||
| Q4 24 | 17.1% | — | ||
| Q3 24 | 25.5% | — | ||
| Q2 24 | 18.4% | — |
资本支出强度ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | 10.0% | — | ||
| Q3 25 | 6.3% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | 3.4% | — | ||
| Q4 24 | 9.4% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 2.6% | — |
现金转化率ALSNASB
| Q1 26 | — | — | ||
| Q4 25 | 2.45× | 1.59× | ||
| Q3 25 | 1.66× | 1.27× | ||
| Q2 25 | 0.94× | 1.27× | ||
| Q1 25 | 0.94× | 0.97× | ||
| Q4 24 | 1.21× | — | ||
| Q3 24 | 1.23× | 1.19× | ||
| Q2 24 | 0.91× | 0.98× |
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
ALSN
| North America On Highway | $361.0M | 49% |
| Service Parts Support Equipment And Other | $160.0M | 22% |
| Outside North America On Highway | $131.0M | 18% |
| Defense | $73.0M | 10% |
| Global Off-Highway | $12.0M | 2% |
ASB
| Net Interest Income | $307.2M | 80% |
| Noninterest Income | $75.9M | 20% |
