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ABERCROMBIE & FITCH CO（ANF）与塞拉尼斯（CE）财务数据对比。点击上方公司名可切换其他公司
塞拉尼斯的季度营收约是ABERCROMBIE & FITCH CO的1.7倍（$2.2B vs $1.3B），ABERCROMBIE & FITCH CO净利率更高（8.8% vs 0.6%，领先8.1%），ABERCROMBIE & FITCH CO同比增速更快（6.8% vs -7.0%），塞拉尼斯自由现金流更多（$168.0M vs $131.8M），过去两年ABERCROMBIE & FITCH CO的营收复合增速更高（-5.8% vs -8.1%）
A&F（阿伯克龙比与菲奇）是1892年成立的美国生活方式零售品牌，主打面向20岁出头至45岁左右客群的潮流服饰，总部位于俄亥俄州新奥尔巴尼。旗下运营Abercrombie Kids、Your Personal Best、霍利斯特（Hollister Co.）、Gilly Hicks四个子品牌，全品牌直营门店超780家。
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
ANF vs CE — 直观对比
营收规模更大
CE
是对方的1.7倍
$1.3B
营收增速更快
ANF
高出13.8%
-7.0%
净利率更高
ANF
高出8.1%
0.6%
自由现金流更多
CE
多$36.2M
$131.8M
两年增速更快
ANF
近两年复合增速
-8.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.2B |
| 净利润 | $113.0M | $14.0M |
| 毛利率 | 62.5% | 19.1% |
| 营业利润率 | 12.0% | 4.0% |
| 净利率 | 8.8% | 0.6% |
| 营收同比 | 6.8% | -7.0% |
| 净利润同比 | -14.4% | 100.7% |
| 每股收益（稀释后） | $2.36 | $0.13 |
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ANFCE
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.2B | $2.4B | ||
| Q2 25 | $1.1B | $2.5B | ||
| Q1 25 | $1.6B | $2.4B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $1.1B | $2.6B | ||
| Q2 24 | $1.0B | $2.7B | ||
| Q1 24 | $1.5B | $2.6B |
净利润ANFCE
| Q4 25 | $113.0M | $14.0M | ||
| Q3 25 | $141.4M | $-1.4B | ||
| Q2 25 | $80.4M | $199.0M | ||
| Q1 25 | $187.2M | $-21.0M | ||
| Q4 24 | $132.0M | $-1.9B | ||
| Q3 24 | $133.2M | $116.0M | ||
| Q2 24 | $113.8M | $155.0M | ||
| Q1 24 | $158.4M | $121.0M |
毛利率ANFCE
| Q4 25 | 62.5% | 19.1% | ||
| Q3 25 | 62.6% | 21.5% | ||
| Q2 25 | 62.0% | 21.1% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | 65.1% | 22.7% | ||
| Q3 24 | 64.9% | 23.5% | ||
| Q2 24 | 66.4% | 24.2% | ||
| Q1 24 | 62.9% | 21.2% |
营业利润率ANFCE
| Q4 25 | 12.0% | 4.0% | ||
| Q3 25 | 17.1% | -52.7% | ||
| Q2 25 | 9.3% | 9.2% | ||
| Q1 25 | 16.2% | 7.0% | ||
| Q4 24 | 14.8% | -59.3% | ||
| Q3 24 | 15.5% | 9.4% | ||
| Q2 24 | 12.7% | 9.4% | ||
| Q1 24 | 15.3% | 8.0% |
净利率ANFCE
| Q4 25 | 8.8% | 0.6% | ||
| Q3 25 | 11.7% | -56.1% | ||
| Q2 25 | 7.3% | 7.9% | ||
| Q1 25 | 11.8% | -0.9% | ||
| Q4 24 | 10.9% | -80.8% | ||
| Q3 24 | 11.7% | 4.4% | ||
| Q2 24 | 11.2% | 5.8% | ||
| Q1 24 | 10.9% | 4.6% |
每股收益（稀释后）ANFCE
| Q4 25 | $2.36 | $0.13 | ||
| Q3 25 | $2.91 | $-12.39 | ||
| Q2 25 | $1.59 | $1.81 | ||
| Q1 25 | $3.55 | $-0.19 | ||
| Q4 24 | $2.50 | $-17.50 | ||
| Q3 24 | $2.50 | $1.06 | ||
| Q2 24 | $2.14 | $1.41 | ||
| Q1 24 | $2.97 | $1.10 |
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 | $631.0M | — |
| 总债务越低越好 | — | $11.4B |
| 股东权益账面价值 | $1.3B | $4.0B |
| 总资产 | $3.5B | $21.7B |
| 负债/权益比越低杠杆越低 | — | 2.81× |
8季度趋势，按日历期对齐
现金及短期投资ANFCE
| Q4 25 | $631.0M | — | ||
| Q3 25 | $603.5M | — | ||
| Q2 25 | $607.6M | — | ||
| Q1 25 | $888.9M | — | ||
| Q4 24 | $738.9M | — | ||
| Q3 24 | $738.4M | — | ||
| Q2 24 | $864.2M | — | ||
| Q1 24 | $900.9M | — |
总债务ANFCE
| Q4 25 | — | $11.4B | ||
| Q3 25 | — | $11.7B | ||
| Q2 25 | — | $12.7B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | — | $11.1B | ||
| Q3 24 | — | $11.3B | ||
| Q2 24 | — | $11.1B | ||
| Q1 24 | — | $11.0B |
股东权益ANFCE
| Q4 25 | $1.3B | $4.0B | ||
| Q3 25 | $1.3B | $4.0B | ||
| Q2 25 | $1.2B | $5.3B | ||
| Q1 25 | $1.3B | $5.2B | ||
| Q4 24 | $1.2B | $5.2B | ||
| Q3 24 | $1.2B | $7.3B | ||
| Q2 24 | $1.1B | $7.2B | ||
| Q1 24 | $1.0B | $7.1B |
总资产ANFCE
| Q4 25 | $3.5B | $21.7B | ||
| Q3 25 | $3.3B | $22.2B | ||
| Q2 25 | $3.1B | $23.7B | ||
| Q1 25 | $3.3B | $23.2B | ||
| Q4 24 | $3.3B | $22.9B | ||
| Q3 24 | $3.0B | $25.9B | ||
| Q2 24 | $3.0B | $25.8B | ||
| Q1 24 | $3.0B | $26.0B |
负债/权益比ANFCE
| Q4 25 | — | 2.81× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | 2.39× | ||
| Q4 24 | — | 2.14× | ||
| Q3 24 | — | 1.56× | ||
| Q2 24 | — | 1.54× | ||
| Q1 24 | — | 1.56× |
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 | $200.1M | $252.0M |
| 自由现金流经营现金流 - 资本支出 | $131.8M | $168.0M |
| 自由现金流率自由现金流/营收 | 10.2% | 7.6% |
| 资本支出强度资本支出/营收 | 5.3% | 3.8% |
| 现金转化率经营现金流/净利润 | 1.77× | 18.00× |
| 过去12个月自由现金流最近4个季度 | $384.5M | $803.0M |
8季度趋势，按日历期对齐
经营现金流ANFCE
| Q4 25 | $200.1M | $252.0M | ||
| Q3 25 | $116.9M | $447.0M | ||
| Q2 25 | $-4.0M | $410.0M | ||
| Q1 25 | $307.6M | $37.0M | ||
| Q4 24 | $142.6M | $494.0M | ||
| Q3 24 | $165.1M | $79.0M | ||
| Q2 24 | $95.0M | $292.0M | ||
| Q1 24 | $303.3M | $101.0M |
自由现金流ANFCE
| Q4 25 | $131.8M | $168.0M | ||
| Q3 25 | $50.7M | $383.0M | ||
| Q2 25 | $-54.8M | $317.0M | ||
| Q1 25 | $256.8M | $-65.0M | ||
| Q4 24 | $92.2M | $389.0M | ||
| Q3 24 | $122.3M | $-9.0M | ||
| Q2 24 | $56.1M | $187.0M | ||
| Q1 24 | $274.1M | $-36.0M |
自由现金流率ANFCE
| Q4 25 | 10.2% | 7.6% | ||
| Q3 25 | 4.2% | 15.8% | ||
| Q2 25 | -5.0% | 12.5% | ||
| Q1 25 | 16.2% | -2.7% | ||
| Q4 24 | 7.6% | 16.4% | ||
| Q3 24 | 10.8% | -0.3% | ||
| Q2 24 | 5.5% | 7.1% | ||
| Q1 24 | 18.9% | -1.4% |
资本支出强度ANFCE
| Q4 25 | 5.3% | 3.8% | ||
| Q3 25 | 5.5% | 2.6% | ||
| Q2 25 | 4.6% | 3.7% | ||
| Q1 25 | 3.2% | 4.3% | ||
| Q4 24 | 4.2% | 4.4% | ||
| Q3 24 | 3.8% | 3.3% | ||
| Q2 24 | 3.8% | 4.0% | ||
| Q1 24 | 2.0% | 5.2% |
现金转化率ANFCE
| Q4 25 | 1.77× | 18.00× | ||
| Q3 25 | 0.83× | — | ||
| Q2 25 | -0.05× | 2.06× | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.08× | — | ||
| Q3 24 | 1.24× | 0.68× | ||
| Q2 24 | 0.83× | 1.88× | ||
| Q1 24 | 1.91× | 0.83× |
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
ANF
| Hollister | $673.3M | 52% |
| Abercrombie | $617.3M | 48% |
| Gift Card | $25.7M | 2% |
| Royalty | $19.5M | 2% |
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
