vs
安姆科（AMCR）与盛思阳（TSE）财务数据对比。点击上方公司名可切换其他公司
安姆科的季度营收约是盛思阳的8.2倍（$5.4B vs $662.6M）。安姆科净利率更高（3.2% vs -37.9%，领先41.2%）。安姆科同比增速更快（68.1% vs -19.3%）。安姆科自由现金流更多（$282.0M vs $6.6M）。过去两年安姆科的营收复合增速更高（26.4% vs -14.4%）
安姆科是全球知名的包装产品开发商、生产商与销售商，业务覆盖欧洲、北美、拉美、非洲及亚太地区，下设软包装与硬包装两大业务板块。软包装产品广泛应用于食品饮料、医药、生鲜、休闲食品、个人护理等领域，硬包装板块则为各类食品饮料提供刚性容器产品。
盛思阳（Trinseo）是一家专注于塑料与乳胶粘合剂生产的材料企业。该公司原隶属于陶氏化学公司，2009年陶氏将其分拆待售，2010年相关资产以斯泰隆（Styron）之名作价16.3亿美元出售给贝恩资本。2016年贝恩清仓全部持股， Trinseo自此成为完全独立的公众上市公司。
AMCR vs TSE — 直观对比
营收规模更大
AMCR
是对方的8.2倍
$662.6M
营收增速更快
AMCR
高出87.5%
-19.3%
净利率更高
AMCR
高出41.2%
-37.9%
自由现金流更多
AMCR
多$275.4M
$6.6M
两年增速更快
AMCR
近两年复合增速
-14.4%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $662.6M |
| 净利润 | $177.0M | $-251.4M |
| 毛利率 | 19.1% | 4.2% |
| 营业利润率 | 6.1% | -24.7% |
| 净利率 | 3.2% | -37.9% |
| 营收同比 | 68.1% | -19.3% |
| 净利润同比 | 8.6% | -113.2% |
| 每股收益（稀释后） | $0.38 | $-7.02 |
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AMCRTSE
| Q4 25 | $5.4B | $662.6M | ||
| Q3 25 | $5.7B | $743.2M | ||
| Q2 25 | $5.1B | $784.3M | ||
| Q1 25 | $3.3B | $784.8M | ||
| Q4 24 | $3.2B | $821.5M | ||
| Q3 24 | $3.4B | $867.7M | ||
| Q2 24 | $3.5B | $920.0M | ||
| Q1 24 | $3.4B | $904.0M |
净利润AMCRTSE
| Q4 25 | $177.0M | $-251.4M | ||
| Q3 25 | $262.0M | $-109.7M | ||
| Q2 25 | $-39.0M | $-105.5M | ||
| Q1 25 | $196.0M | $-79.0M | ||
| Q4 24 | $163.0M | $-117.9M | ||
| Q3 24 | $191.0M | $-87.3M | ||
| Q2 24 | $257.0M | $-67.8M | ||
| Q1 24 | $187.0M | $-75.5M |
毛利率AMCRTSE
| Q4 25 | 19.1% | 4.2% | ||
| Q3 25 | 19.6% | 5.0% | ||
| Q2 25 | 17.6% | 4.7% | ||
| Q1 25 | 19.6% | 8.1% | ||
| Q4 24 | 19.3% | 6.8% | ||
| Q3 24 | 19.7% | 9.3% | ||
| Q2 24 | 21.3% | 7.4% | ||
| Q1 24 | 20.3% | 6.7% |
营业利润率AMCRTSE
| Q4 25 | 6.1% | -24.7% | ||
| Q3 25 | 8.0% | -3.8% | ||
| Q2 25 | 1.7% | -4.2% | ||
| Q1 25 | 9.4% | -3.7% | ||
| Q4 24 | 9.2% | -5.4% | ||
| Q3 24 | 9.3% | -1.4% | ||
| Q2 24 | 11.2% | 1.5% | ||
| Q1 24 | 9.0% | -0.4% |
净利率AMCRTSE
| Q4 25 | 3.2% | -37.9% | ||
| Q3 25 | 4.6% | -14.8% | ||
| Q2 25 | -0.8% | -13.5% | ||
| Q1 25 | 5.9% | -10.1% | ||
| Q4 24 | 5.0% | -14.4% | ||
| Q3 24 | 5.7% | -10.1% | ||
| Q2 24 | 7.3% | -7.4% | ||
| Q1 24 | 5.5% | -8.4% |
每股收益（稀释后）AMCRTSE
| Q4 25 | $0.38 | $-7.02 | ||
| Q3 25 | $0.11 | $-3.05 | ||
| Q2 25 | $-0.06 | $-2.95 | ||
| Q1 25 | $0.14 | $-2.22 | ||
| Q4 24 | $0.11 | $-3.33 | ||
| Q3 24 | $0.13 | $-2.47 | ||
| Q2 24 | $0.18 | $-1.92 | ||
| Q1 24 | $0.13 | $-2.14 |
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 | $1.1B | $146.7M |
| 总债务越低越好 | $14.6B | $2.5B |
| 股东权益账面价值 | $11.6B | $-1.1B |
| 总资产 | $37.0B | $2.3B |
| 负债/权益比越低杠杆越低 | 1.26× | — |
8季度趋势，按日历期对齐
现金及短期投资AMCRTSE
| Q4 25 | $1.1B | $146.7M | ||
| Q3 25 | $825.0M | $112.1M | ||
| Q2 25 | $827.0M | $137.0M | ||
| Q1 25 | $2.0B | $126.1M | ||
| Q4 24 | $445.0M | $209.8M | ||
| Q3 24 | $432.0M | $165.3M | ||
| Q2 24 | $588.0M | $105.6M | ||
| Q1 24 | $457.0M | $166.4M |
总债务AMCRTSE
| Q4 25 | $14.6B | $2.5B | ||
| Q3 25 | $12.8B | $2.5B | ||
| Q2 25 | $13.8B | $2.5B | ||
| Q1 25 | $8.6B | $2.5B | ||
| Q4 24 | $6.8B | $2.4B | ||
| Q3 24 | $7.2B | $2.4B | ||
| Q2 24 | $6.6B | $2.3B | ||
| Q1 24 | $7.1B | $2.3B |
股东权益AMCRTSE
| Q4 25 | $11.6B | $-1.1B | ||
| Q3 25 | $11.7B | $-861.6M | ||
| Q2 25 | $11.7B | $-750.3M | ||
| Q1 25 | $3.9B | $-679.2M | ||
| Q4 24 | $3.8B | $-619.9M | ||
| Q3 24 | $3.9B | $-480.0M | ||
| Q2 24 | $3.9B | $-413.8M | ||
| Q1 24 | $3.9B | $-348.0M |
总资产AMCRTSE
| Q4 25 | $37.0B | $2.3B | ||
| Q3 25 | $37.1B | $2.5B | ||
| Q2 25 | $37.1B | $2.6B | ||
| Q1 25 | $18.0B | $2.7B | ||
| Q4 24 | $16.2B | $2.6B | ||
| Q3 24 | $16.9B | $2.9B | ||
| Q2 24 | $16.5B | $2.8B | ||
| Q1 24 | $16.7B | $3.0B |
负债/权益比AMCRTSE
| Q4 25 | 1.26× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 1.18× | — | ||
| Q1 25 | 2.24× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 1.70× | — | ||
| Q1 24 | 1.79× | — |
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 | $503.0M | $22.6M |
| 自由现金流经营现金流 - 资本支出 | $282.0M | $6.6M |
| 自由现金流率自由现金流/营收 | 5.2% | 1.0% |
| 资本支出强度资本支出/营收 | 4.1% | 2.4% |
| 现金转化率经营现金流/净利润 | 2.84× | — |
| 过去12个月自由现金流最近4个季度 | $805.0M | $-153.4M |
8季度趋势，按日历期对齐
经营现金流AMCRTSE
| Q4 25 | $503.0M | $22.6M | ||
| Q3 25 | $-133.0M | $-21.6M | ||
| Q2 25 | $1.1B | $6.8M | ||
| Q1 25 | $117.0M | $-110.2M | ||
| Q4 24 | $428.0M | $85.1M | ||
| Q3 24 | $-269.0M | $8.8M | ||
| Q2 24 | $943.0M | $-41.9M | ||
| Q1 24 | $150.0M | $-66.2M |
自由现金流AMCRTSE
| Q4 25 | $282.0M | $6.6M | ||
| Q3 25 | $-371.0M | $-38.1M | ||
| Q2 25 | $894.0M | $-3.0M | ||
| Q1 25 | $0 | $-118.9M | ||
| Q4 24 | $330.0M | $63.9M | ||
| Q3 24 | $-414.0M | $-3.4M | ||
| Q2 24 | $809.0M | $-56.1M | ||
| Q1 24 | $37.0M | $-81.9M |
自由现金流率AMCRTSE
| Q4 25 | 5.2% | 1.0% | ||
| Q3 25 | -6.5% | -5.1% | ||
| Q2 25 | 17.6% | -0.4% | ||
| Q1 25 | 0.0% | -15.2% | ||
| Q4 24 | 10.2% | 7.8% | ||
| Q3 24 | -12.3% | -0.4% | ||
| Q2 24 | 22.9% | -6.1% | ||
| Q1 24 | 1.1% | -9.1% |
资本支出强度AMCRTSE
| Q4 25 | 4.1% | 2.4% | ||
| Q3 25 | 4.1% | 2.2% | ||
| Q2 25 | 4.3% | 1.2% | ||
| Q1 25 | 3.5% | 1.1% | ||
| Q4 24 | 3.0% | 2.6% | ||
| Q3 24 | 4.3% | 1.4% | ||
| Q2 24 | 3.8% | 1.5% | ||
| Q1 24 | 3.3% | 1.7% |
现金转化率AMCRTSE
| Q4 25 | 2.84× | — | ||
| Q3 25 | -0.51× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 2.63× | — | ||
| Q3 24 | -1.41× | — | ||
| Q2 24 | 3.67× | — | ||
| Q1 24 | 0.80× | — |
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
AMCR
| Flexibles Segment | $3.2B | 59% |
| Rigid Packaging Segment | $2.3B | 42% |
TSE
| Other | $325.2M | 49% |
| Asia Pacific | $142.2M | 21% |
| Engineered Materials | $105.0M | 16% |
| Latex | $59.9M | 9% |
| Polymer Solutions | $30.3M | 5% |
