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American Well Corp（AMWL）与合众银行（FSBC）财务数据对比。点击上方公司名可切换其他公司
American Well Corp的季度营收约是合众银行的1.2倍（$55.3M vs $45.1M），合众银行净利率更高（41.3% vs -45.1%，领先86.3%），过去两年合众银行的营收复合增速更高（21.3% vs -3.6%）
美国烟草公司由J.B.杜克于1890年整合多家美国烟草制造商合并创立，1896年成为道琼斯工业平均指数最初的12支成分股之一。该公司收购了好彩公司及超过200家竞争对手，一度垄断美国烟草行业。1907年美国联邦政府发起反垄断诉讼，最终将该公司分拆为多家企业。
合众银行是总部设在美国明尼阿波利斯、在特拉华州注册的美国跨国银行机构，截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性的银行。它旗下核心运营实体为美国银行全国协会，以US Bank品牌开展业务，提供银行、投资、抵押等金融服务。
AMWL vs FSBC — 直观对比
营收规模更大
AMWL
是对方的1.2倍
$45.1M
净利率更高
FSBC
高出86.3%
-45.1%
两年增速更快
FSBC
近两年复合增速
-3.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $55.3M | $45.1M |
| 净利润 | $-24.9M | $18.6M |
| 毛利率 | — | — |
| 营业利润率 | -45.5% | — |
| 净利率 | -45.1% | 41.3% |
| 营收同比 | -22.1% | — |
| 净利润同比 | 41.6% | 42.0% |
| 每股收益（稀释后） | $-1.53 | $0.87 |
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AMWLFSBC
| Q1 26 | — | $45.1M | ||
| Q4 25 | $55.3M | $43.5M | ||
| Q3 25 | $56.3M | $41.3M | ||
| Q2 25 | $70.9M | $38.3M | ||
| Q1 25 | $66.8M | $35.3M | ||
| Q4 24 | $71.0M | $35.2M | ||
| Q3 24 | $61.0M | $31.8M | ||
| Q2 24 | $62.8M | $30.7M |
净利润AMWLFSBC
| Q1 26 | — | $18.6M | ||
| Q4 25 | $-24.9M | $17.6M | ||
| Q3 25 | $-32.4M | $16.3M | ||
| Q2 25 | $-19.7M | $14.5M | ||
| Q1 25 | $-18.7M | $13.1M | ||
| Q4 24 | $-42.7M | $13.3M | ||
| Q3 24 | $-43.5M | $10.9M | ||
| Q2 24 | $-49.9M | $10.8M |
营业利润率AMWLFSBC
| Q1 26 | — | — | ||
| Q4 25 | -45.5% | 52.9% | ||
| Q3 25 | -52.1% | 53.8% | ||
| Q2 25 | -28.7% | 52.4% | ||
| Q1 25 | -45.5% | 52.0% | ||
| Q4 24 | -60.2% | 55.1% | ||
| Q3 24 | -77.6% | 48.0% | ||
| Q2 24 | -83.4% | 49.4% |
净利率AMWLFSBC
| Q1 26 | — | 41.3% | ||
| Q4 25 | -45.1% | 40.6% | ||
| Q3 25 | -57.5% | 39.6% | ||
| Q2 25 | -27.8% | 37.9% | ||
| Q1 25 | -28.0% | 37.1% | ||
| Q4 24 | -60.1% | 37.9% | ||
| Q3 24 | -71.2% | 34.4% | ||
| Q2 24 | -79.5% | 35.2% |
每股收益（稀释后）AMWLFSBC
| Q1 26 | — | $0.87 | ||
| Q4 25 | $-1.53 | $0.83 | ||
| Q3 25 | $-2.00 | $0.77 | ||
| Q2 25 | $-1.24 | $0.68 | ||
| Q1 25 | $-1.19 | $0.62 | ||
| Q4 24 | $-2.71 | $0.61 | ||
| Q3 24 | $-2.87 | $0.52 | ||
| Q2 24 | $-3.36 | $0.51 |
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 | $182.3M | $644.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $235.6M | $458.5M |
| 总资产 | $323.8M | $5.0B |
| 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AMWLFSBC
| Q1 26 | — | $644.4M | ||
| Q4 25 | $182.3M | — | ||
| Q3 25 | $200.9M | — | ||
| Q2 25 | $219.1M | — | ||
| Q1 25 | $222.4M | — | ||
| Q4 24 | $228.3M | — | ||
| Q3 24 | $244.6M | — | ||
| Q2 24 | $276.9M | — |
股东权益AMWLFSBC
| Q1 26 | — | $458.5M | ||
| Q4 25 | $235.6M | $445.8M | ||
| Q3 25 | $254.9M | $431.3M | ||
| Q2 25 | $282.6M | $416.7M | ||
| Q1 25 | $294.0M | $406.5M | ||
| Q4 24 | $304.8M | $396.6M | ||
| Q3 24 | $336.7M | $389.9M | ||
| Q2 24 | $363.9M | $380.5M |
总资产AMWLFSBC
| Q1 26 | — | $5.0B | ||
| Q4 25 | $323.8M | $4.8B | ||
| Q3 25 | $359.4M | $4.6B | ||
| Q2 25 | $388.7M | $4.4B | ||
| Q1 25 | $419.5M | $4.2B | ||
| Q4 24 | $436.0M | $4.1B | ||
| Q3 24 | $483.0M | $3.9B | ||
| Q2 24 | $507.8M | $3.6B |
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 | $-17.4M | — |
| 自由现金流经营现金流 - 资本支出 | $-17.4M | — |
| 自由现金流率自由现金流/营收 | -31.4% | — |
| 资本支出强度资本支出/营收 | 0.0% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AMWLFSBC
| Q1 26 | — | — | ||
| Q4 25 | $-17.4M | $72.6M | ||
| Q3 25 | $-18.8M | $18.8M | ||
| Q2 25 | $-4.7M | $17.8M | ||
| Q1 25 | $-25.1M | $15.5M | ||
| Q4 24 | $-13.4M | $51.8M | ||
| Q3 24 | $-32.4M | $17.5M | ||
| Q2 24 | $-21.8M | $16.0M |
自由现金流AMWLFSBC
| Q1 26 | — | — | ||
| Q4 25 | $-17.4M | $71.4M | ||
| Q3 25 | — | $18.6M | ||
| Q2 25 | — | $17.5M | ||
| Q1 25 | $-25.1M | $15.4M | ||
| Q4 24 | $-13.4M | $51.2M | ||
| Q3 24 | $-32.4M | $17.3M | ||
| Q2 24 | $-21.8M | $15.8M |
自由现金流率AMWLFSBC
| Q1 26 | — | — | ||
| Q4 25 | -31.4% | 164.3% | ||
| Q3 25 | — | 45.0% | ||
| Q2 25 | — | 45.8% | ||
| Q1 25 | -37.6% | 43.5% | ||
| Q4 24 | -18.9% | 145.5% | ||
| Q3 24 | -53.0% | 54.5% | ||
| Q2 24 | -34.7% | 51.6% |
资本支出强度AMWLFSBC
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 2.8% | ||
| Q3 25 | 0.0% | 0.5% | ||
| Q2 25 | 0.0% | 0.6% | ||
| Q1 25 | 0.0% | 0.3% | ||
| Q4 24 | 0.0% | 1.8% | ||
| Q3 24 | 0.0% | 0.7% | ||
| Q2 24 | 0.0% | 0.7% |
现金转化率AMWLFSBC
| Q1 26 | — | — | ||
| Q4 25 | — | 4.12× | ||
| Q3 25 | — | 1.15× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | 1.18× | ||
| Q4 24 | — | 3.89× | ||
| Q3 24 | — | 1.60× | ||
| Q2 24 | — | 1.49× |
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
AMWL
| Platform Subscription | $28.8M | 52% |
| Visits | $23.7M | 43% |
| Others | $2.8M | 5% |
FSBC
| Net Interest Income | $43.5M | 96% |
| Noninterest Income | $1.6M | 4% |
