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AMC ENTERTAINMENT HOLDINGS, INC.（AMC）与GLOBAL PARTNERS LP（GLP）财务数据对比。点击上方公司名可切换其他公司
GLOBAL PARTNERS LP的季度营收约是AMC ENTERTAINMENT HOLDINGS, INC.的1.7倍（$2.2B vs $1.3B），GLOBAL PARTNERS LP净利率更高（1.1% vs -9.9%，领先11.0%），GLOBAL PARTNERS LP同比增速更快（7.0% vs -1.4%），GLOBAL PARTNERS LP自由现金流更多（$62.2M vs $43.3M），过去两年AMC ENTERTAINMENT HOLDINGS, INC.的营收复合增速更高（16.4% vs 0.2%）
AMC娱乐控股是总部位于美国堪萨斯州利伍德的连锁影院集团，1920年创立于密苏里州堪萨斯城，是全球规模最大的影院运营商，目前在全球共运营约860家影院、总计超过9600块银幕，业务覆盖美国与欧洲多地。
Global Partners LP是一家美国能源供应企业，2018年位列《财富》世界500强第361位，采用业主有限合伙制架构，核心业务为石油产品进口，深耕北美市场开展营销活动，批发的产品涵盖原油、柴油、汽油、取暖油及煤油等品类。
AMC vs GLP — 直观对比
营收规模更大
GLP
是对方的1.7倍
$1.3B
营收增速更快
GLP
高出8.4%
-1.4%
净利率更高
GLP
高出11.0%
-9.9%
自由现金流更多
GLP
多$18.9M
$43.3M
两年增速更快
AMC
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.2B |
| 净利润 | $-127.4M | $25.1M |
| 毛利率 | — | 11.9% |
| 营业利润率 | 0.0% | 2.6% |
| 净利率 | -9.9% | 1.1% |
| 营收同比 | -1.4% | 7.0% |
| 净利润同比 | 6.0% | 5.0% |
| 每股收益（稀释后） | $-0.28 | — |
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AMCGLP
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.3B | $2.2B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $862.5M | $2.2B | ||
| Q4 24 | $1.3B | $2.1B | ||
| Q3 24 | $1.3B | $2.1B | ||
| Q2 24 | $1.0B | $2.3B | ||
| Q1 24 | $951.4M | $2.2B |
净利润AMCGLP
| Q4 25 | $-127.4M | $25.1M | ||
| Q3 25 | $-298.2M | $29.0M | ||
| Q2 25 | $-4.7M | $25.2M | ||
| Q1 25 | $-202.1M | $18.7M | ||
| Q4 24 | $-135.6M | $23.9M | ||
| Q3 24 | $-20.7M | $45.9M | ||
| Q2 24 | $-32.8M | $46.1M | ||
| Q1 24 | $-163.5M | $-5.6M |
毛利率AMCGLP
| Q4 25 | — | 11.9% | ||
| Q3 25 | — | 12.1% | ||
| Q2 25 | — | 13.1% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | 13.0% | ||
| Q3 24 | — | 13.4% | ||
| Q2 24 | — | 12.6% | ||
| Q1 24 | — | 9.8% |
营业利润率AMCGLP
| Q4 25 | 0.0% | 2.6% | ||
| Q3 25 | 2.8% | 2.7% | ||
| Q2 25 | 6.6% | 2.9% | ||
| Q1 25 | -16.9% | 2.6% | ||
| Q4 24 | 0.4% | 2.8% | ||
| Q3 24 | 5.3% | 3.9% | ||
| Q2 24 | -4.6% | 3.7% | ||
| Q1 24 | -11.4% | 1.2% |
净利率AMCGLP
| Q4 25 | -9.9% | 1.1% | ||
| Q3 25 | -22.9% | 1.3% | ||
| Q2 25 | -0.3% | 1.2% | ||
| Q1 25 | -23.4% | 0.9% | ||
| Q4 24 | -10.4% | 1.2% | ||
| Q3 24 | -1.5% | 2.1% | ||
| Q2 24 | -3.2% | 2.0% | ||
| Q1 24 | -17.2% | -0.3% |
每股收益（稀释后）AMCGLP
| Q4 25 | $-0.28 | — | ||
| Q3 25 | $-0.58 | — | ||
| Q2 25 | $-0.01 | — | ||
| Q1 25 | $-0.47 | — | ||
| Q4 24 | $-0.28 | — | ||
| Q3 24 | $-0.06 | — | ||
| Q2 24 | $-0.10 | — | ||
| Q1 24 | $-0.62 | — |
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 | $428.5M | — |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $-1.9B | — |
| 总资产 | $8.0B | $3.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AMCGLP
| Q4 25 | $428.5M | — | ||
| Q3 25 | $365.8M | — | ||
| Q2 25 | $423.7M | — | ||
| Q1 25 | $378.7M | — | ||
| Q4 24 | $632.3M | — | ||
| Q3 24 | $527.4M | — | ||
| Q2 24 | $770.3M | — | ||
| Q1 24 | $624.2M | — |
总债务AMCGLP
| Q4 25 | $4.0B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.5B | — |
股东权益AMCGLP
| Q4 25 | $-1.9B | — | ||
| Q3 25 | $-1.8B | — | ||
| Q2 25 | $-1.7B | — | ||
| Q1 25 | $-1.7B | — | ||
| Q4 24 | $-1.8B | — | ||
| Q3 24 | $-1.7B | — | ||
| Q2 24 | $-1.7B | — | ||
| Q1 24 | $-2.0B | — |
总资产AMCGLP
| Q4 25 | $8.0B | $3.9B | ||
| Q3 25 | $8.0B | $3.7B | ||
| Q2 25 | $8.2B | $3.8B | ||
| Q1 25 | $8.1B | $3.8B | ||
| Q4 24 | $8.2B | $3.8B | ||
| Q3 24 | $8.3B | $3.7B | ||
| Q2 24 | $8.6B | $3.8B | ||
| Q1 24 | $8.5B | $3.5B |
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 | $126.7M | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $43.3M | $62.2M |
| 自由现金流率自由现金流/营收 | 3.4% | 2.8% |
| 资本支出强度资本支出/营收 | 6.5% | 1.8% |
| 现金转化率经营现金流/净利润 | — | 4.03× |
| 过去12个月自由现金流最近4个季度 | $-365.9M | $193.3M |
8季度趋势，按日历期对齐
经营现金流AMCGLP
| Q4 25 | $126.7M | $101.0M | ||
| Q3 25 | $-14.9M | $19.0M | ||
| Q2 25 | $138.4M | $216.3M | ||
| Q1 25 | $-370.0M | $-51.6M | ||
| Q4 24 | $203.6M | $67.2M | ||
| Q3 24 | $-31.5M | $122.7M | ||
| Q2 24 | $-34.6M | $24.3M | ||
| Q1 24 | $-188.3M | $-182.7M |
自由现金流AMCGLP
| Q4 25 | $43.3M | $62.2M | ||
| Q3 25 | $-81.1M | $-678.0K | ||
| Q2 25 | $88.9M | $201.3M | ||
| Q1 25 | $-417.0M | $-69.5M | ||
| Q4 24 | $113.9M | $20.4M | ||
| Q3 24 | $-92.2M | $98.4M | ||
| Q2 24 | $-79.2M | $8.7M | ||
| Q1 24 | $-238.8M | $-199.3M |
自由现金流率AMCGLP
| Q4 25 | 3.4% | 2.8% | ||
| Q3 25 | -6.2% | -0.0% | ||
| Q2 25 | 6.4% | 9.7% | ||
| Q1 25 | -48.3% | -3.2% | ||
| Q4 24 | 8.7% | 1.0% | ||
| Q3 24 | -6.8% | 4.6% | ||
| Q2 24 | -7.7% | 0.4% | ||
| Q1 24 | -25.1% | -9.0% |
资本支出强度AMCGLP
| Q4 25 | 6.5% | 1.8% | ||
| Q3 25 | 5.1% | 0.9% | ||
| Q2 25 | 3.5% | 0.7% | ||
| Q1 25 | 5.4% | 0.8% | ||
| Q4 24 | 6.9% | 2.3% | ||
| Q3 24 | 4.5% | 1.1% | ||
| Q2 24 | 4.3% | 0.7% | ||
| Q1 24 | 5.3% | 0.8% |
现金转化率AMCGLP
| Q4 25 | — | 4.03× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 8.58× | ||
| Q1 25 | — | -2.76× | ||
| Q4 24 | — | 2.82× | ||
| Q3 24 | — | 2.67× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | — |
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
AMC
| Admission | $701.6M | 54% |
| Food And Beverage | $436.5M | 34% |
| Other | $106.2M | 8% |
| Advertising | $44.0M | 3% |
GLP
| Gasoline | $1.0B | 46% |
| Refined Petroleum Products Renewable Fuels Crude Oil And Propane | $884.7M | 40% |
| Commercial Segment | $187.6M | 8% |
| Station Operations | $110.5M | 5% |
