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美国铁塔（AMT）与Academy Sports & Outdoors, Inc.（ASO）财务数据对比。点击上方公司名可切换其他公司
美国铁塔的季度营收约是Academy Sports & Outdoors, Inc.的2.0倍（$2.7B vs $1.4B），美国铁塔净利率更高（110.1% vs 5.2%，领先104.9%），美国铁塔自由现金流更多（$941.0M vs $-13.6M），过去两年美国铁塔的营收复合增速更高（3.7% vs -12.2%）
美国铁塔是全球规模最大的房地产投资信托基金（REIT）之一，作为领先的独立多租户通信地产持有、运营及开发商，目前在全球范围内拥有约21.9万个通信站点，为全球通信产业提供可靠的基础设施支持。
Academy Sports & Outdoors是美国知名的运动户外用品连锁零售商，总部位于得克萨斯州哈里斯县，临近休斯顿。品牌曾由戈奇曼家族私有运营74年，2011年被私募机构KKR收购，2020年10月于纳斯达克挂牌上市，旗下门店主营各类运动装备、户外休闲用品等品类。
AMT vs ASO — 直观对比
营收规模更大
AMT
是对方的2.0倍
$1.4B
净利率更高
AMT
高出104.9%
5.2%
自由现金流更多
AMT
多$954.6M
$-13.6M
两年增速更快
AMT
近两年复合增速
-12.2%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $1.4B |
| 净利润 | $3.0B | $71.6M |
| 毛利率 | — | 35.7% |
| 营业利润率 | 0.0% | 7.3% |
| 净利率 | 110.1% | 5.2% |
| 营收同比 | — | 3.0% |
| 净利润同比 | — | 8.8% |
| 每股收益（稀释后） | — | $1.05 |
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AMTASO
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $1.4B | ||
| Q3 25 | $2.7B | $1.6B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.6B | $1.7B | ||
| Q4 24 | $2.5B | $1.3B | ||
| Q3 24 | $2.5B | $1.5B | ||
| Q2 24 | $2.5B | $1.4B |
净利润AMTASO
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $71.6M | ||
| Q3 25 | $912.6M | $125.4M | ||
| Q2 25 | $380.5M | $46.1M | ||
| Q1 25 | $498.6M | $133.6M | ||
| Q4 24 | $1.2B | $65.8M | ||
| Q3 24 | $-780.4M | $142.6M | ||
| Q2 24 | $908.4M | $76.5M |
毛利率AMTASO
| Q1 26 | — | — | ||
| Q4 25 | — | 35.7% | ||
| Q3 25 | — | 36.0% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 32.2% | ||
| Q4 24 | — | 34.0% | ||
| Q3 24 | — | 36.1% | ||
| Q2 24 | — | 33.4% |
营业利润率AMTASO
| Q1 26 | 0.0% | — | ||
| Q4 25 | 42.4% | 7.3% | ||
| Q3 25 | 45.4% | 10.8% | ||
| Q2 25 | 45.6% | 5.1% | ||
| Q1 25 | 48.9% | 9.2% | ||
| Q4 24 | 42.4% | 6.8% | ||
| Q3 24 | 45.2% | 12.3% | ||
| Q2 24 | 45.4% | 7.5% |
净利率AMTASO
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | 5.2% | ||
| Q3 25 | 33.6% | 7.8% | ||
| Q2 25 | 14.5% | 3.4% | ||
| Q1 25 | 19.5% | 8.0% | ||
| Q4 24 | 48.3% | 4.9% | ||
| Q3 24 | -30.9% | 9.2% | ||
| Q2 24 | 35.7% | 5.6% |
每股收益（稀释后）AMTASO
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $1.05 | ||
| Q3 25 | $1.82 | $1.85 | ||
| Q2 25 | $0.78 | $0.68 | ||
| Q1 25 | $1.04 | $1.85 | ||
| Q4 24 | $2.63 | $0.92 | ||
| Q3 24 | $-1.69 | $1.95 | ||
| Q2 24 | $1.92 | $1.01 |
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 | $1.6B | $289.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $10.2B | $2.1B |
| 总资产 | — | $5.4B |
| 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AMTASO
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $289.5M | ||
| Q3 25 | $2.0B | $300.9M | ||
| Q2 25 | $2.1B | $285.1M | ||
| Q1 25 | $2.1B | $288.9M | ||
| Q4 24 | $2.0B | $296.0M | ||
| Q3 24 | $2.2B | $324.6M | ||
| Q2 24 | $2.2B | $378.1M |
总债务AMTASO
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | — | ||
| Q3 25 | $34.9B | — | ||
| Q2 25 | $35.2B | — | ||
| Q1 25 | $34.0B | — | ||
| Q4 24 | $32.8B | — | ||
| Q3 24 | $33.4B | — | ||
| Q2 24 | $35.6B | — |
股东权益AMTASO
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $2.1B | ||
| Q3 25 | $4.0B | $2.1B | ||
| Q2 25 | $3.7B | $1.9B | ||
| Q1 25 | $3.5B | $2.0B | ||
| Q4 24 | $3.4B | $2.0B | ||
| Q3 24 | $3.6B | $2.0B | ||
| Q2 24 | $3.9B | $1.9B |
总资产AMTASO
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $5.4B | ||
| Q3 25 | $63.9B | $5.3B | ||
| Q2 25 | $63.8B | $5.2B | ||
| Q1 25 | $62.1B | $4.9B | ||
| Q4 24 | $61.1B | $5.1B | ||
| Q3 24 | $62.8B | $4.9B | ||
| Q2 24 | $65.8B | $4.9B |
负债/权益比AMTASO
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | — | ||
| Q3 25 | 8.82× | — | ||
| Q2 25 | 9.48× | — | ||
| Q1 25 | 9.63× | — | ||
| Q4 24 | 9.70× | — | ||
| Q3 24 | 9.16× | — | ||
| Q2 24 | 9.24× | — |
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 | — | $49.0M |
| 自由现金流经营现金流 - 资本支出 | $941.0M | $-13.6M |
| 自由现金流率自由现金流/营收 | 34.4% | -1.0% |
| 资本支出强度资本支出/营收 | 16.8% | 4.5% |
| 现金转化率经营现金流/净利润 | — | 0.68× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $191.4M |
8季度趋势，按日历期对齐
经营现金流AMTASO
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $49.0M | ||
| Q3 25 | $1.5B | $78.6M | ||
| Q2 25 | $1.3B | $157.5M | ||
| Q1 25 | $1.3B | $140.2M | ||
| Q4 24 | $5.3B | $96.9M | ||
| Q3 24 | $1.5B | $91.3M | ||
| Q2 24 | $1.3B | $199.7M |
自由现金流AMTASO
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $-13.6M | ||
| Q3 25 | $994.5M | $21.8M | ||
| Q2 25 | $976.9M | $106.6M | ||
| Q1 25 | $963.9M | $76.4M | ||
| Q4 24 | $3.7B | $34.4M | ||
| Q3 24 | $1.0B | $50.1M | ||
| Q2 24 | $1.0B | $167.4M |
自由现金流率AMTASO
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | -1.0% | ||
| Q3 25 | 36.6% | 1.4% | ||
| Q2 25 | 37.2% | 7.9% | ||
| Q1 25 | 37.6% | 4.6% | ||
| Q4 24 | 145.3% | 2.6% | ||
| Q3 24 | 41.4% | 3.2% | ||
| Q2 24 | 39.8% | 12.3% |
资本支出强度AMTASO
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | 4.5% | ||
| Q3 25 | 17.1% | 3.5% | ||
| Q2 25 | 11.6% | 3.8% | ||
| Q1 25 | 12.9% | 3.8% | ||
| Q4 24 | 62.4% | 4.6% | ||
| Q3 24 | 16.8% | 2.7% | ||
| Q2 24 | 12.8% | 2.4% |
现金转化率AMTASO
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 0.68× | ||
| Q3 25 | 1.60× | 0.63× | ||
| Q2 25 | 3.37× | 3.42× | ||
| Q1 25 | 2.60× | 1.05× | ||
| Q4 24 | 4.30× | 1.47× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | 1.47× | 2.61× |
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
AMT
暂无分部数据
ASO
| Outdoors | $445.1M | 32% |
| Apparel | $349.8M | 25% |
| Footwear | $292.4M | 21% |
| Sports And Recreation | $288.7M | 21% |
| Other | $7.6M | 1% |
