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ABERCROMBIE & FITCH CO（ANF）与特诺控股（TROX）财务数据对比。点击上方公司名可切换其他公司
ABERCROMBIE & FITCH CO的季度营收约是特诺控股的1.8倍（$1.3B vs $730.0M），ABERCROMBIE & FITCH CO净利率更高（8.8% vs -24.1%，领先32.9%），特诺控股同比增速更快（8.0% vs 6.8%），ABERCROMBIE & FITCH CO自由现金流更多（$131.8M vs $53.0M），过去两年特诺控股的营收复合增速更高（-2.9% vs -5.8%）
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。
特诺控股是一家业务遍及全球的美国化工企业，专注于钛制品领域，现有员工约6500名。在收购南非埃萨罗资源原有的矿砂业务后，特诺已成为全球规模最大的全产业链二氧化钛颜料供应商。二氧化钛颜料主要为涂料、塑料、纸张等产品增白增亮，特诺还拥有钛矿砂开采及加工业务。
ANF vs TROX — 直观对比
营收规模更大
ANF
是对方的1.8倍
$730.0M
营收增速更快
TROX
高出1.2%
6.8%
净利率更高
ANF
高出32.9%
-24.1%
自由现金流更多
ANF
多$78.8M
$53.0M
两年增速更快
TROX
近两年复合增速
-5.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $730.0M |
| 净利润 | $113.0M | $-176.0M |
| 毛利率 | 62.5% | 5.3% |
| 营业利润率 | 12.0% | -15.6% |
| 净利率 | 8.8% | -24.1% |
| 营收同比 | 6.8% | 8.0% |
| 净利润同比 | -14.4% | -486.7% |
| 每股收益（稀释后） | $2.36 | $-1.11 |
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ANFTROX
| Q4 25 | $1.3B | $730.0M | ||
| Q3 25 | $1.2B | $699.0M | ||
| Q2 25 | $1.1B | $731.0M | ||
| Q1 25 | $1.6B | $738.0M | ||
| Q4 24 | $1.2B | $676.0M | ||
| Q3 24 | $1.1B | $804.0M | ||
| Q2 24 | $1.0B | $820.0M | ||
| Q1 24 | $1.5B | $774.0M |
净利润ANFTROX
| Q4 25 | $113.0M | $-176.0M | ||
| Q3 25 | $141.4M | $-99.0M | ||
| Q2 25 | $80.4M | $-84.0M | ||
| Q1 25 | $187.2M | $-111.0M | ||
| Q4 24 | $132.0M | $-30.0M | ||
| Q3 24 | $133.2M | $-25.0M | ||
| Q2 24 | $113.8M | $16.0M | ||
| Q1 24 | $158.4M | $-9.0M |
毛利率ANFTROX
| Q4 25 | 62.5% | 5.3% | ||
| Q3 25 | 62.6% | 7.4% | ||
| Q2 25 | 62.0% | 10.8% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | 65.1% | 17.3% | ||
| Q3 24 | 64.9% | 15.9% | ||
| Q2 24 | 66.4% | 18.3% | ||
| Q1 24 | 62.9% | 15.5% |
营业利润率ANFTROX
| Q4 25 | 12.0% | -15.6% | ||
| Q3 25 | 17.1% | -6.2% | ||
| Q2 25 | 9.3% | -4.8% | ||
| Q1 25 | 16.2% | -8.3% | ||
| Q4 24 | 14.8% | 7.1% | ||
| Q3 24 | 15.5% | 6.7% | ||
| Q2 24 | 12.7% | 9.3% | ||
| Q1 24 | 15.3% | 5.3% |
净利率ANFTROX
| Q4 25 | 8.8% | -24.1% | ||
| Q3 25 | 11.7% | -14.2% | ||
| Q2 25 | 7.3% | -11.5% | ||
| Q1 25 | 11.8% | -15.0% | ||
| Q4 24 | 10.9% | -4.4% | ||
| Q3 24 | 11.7% | -3.1% | ||
| Q2 24 | 11.2% | 2.0% | ||
| Q1 24 | 10.9% | -1.2% |
每股收益（稀释后）ANFTROX
| Q4 25 | $2.36 | $-1.11 | ||
| Q3 25 | $2.91 | $-0.63 | ||
| Q2 25 | $1.59 | $-0.53 | ||
| Q1 25 | $3.55 | $-0.70 | ||
| Q4 24 | $2.50 | $-0.19 | ||
| Q3 24 | $2.50 | $-0.16 | ||
| Q2 24 | $2.14 | $0.10 | ||
| Q1 24 | $2.97 | $-0.06 |
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 | $199.0M |
| 总债务越低越好 | — | $3.1B |
| 股东权益账面价值 | $1.3B | $1.4B |
| 总资产 | $3.5B | $6.2B |
| 负债/权益比越低杠杆越低 | — | 2.21× |
8季度趋势，按日历期对齐
现金及短期投资ANFTROX
| Q4 25 | $631.0M | $199.0M | ||
| Q3 25 | $603.5M | $185.0M | ||
| Q2 25 | $607.6M | $132.0M | ||
| Q1 25 | $888.9M | $138.0M | ||
| Q4 24 | $738.9M | $151.0M | ||
| Q3 24 | $738.4M | $167.0M | ||
| Q2 24 | $864.2M | $201.0M | ||
| Q1 24 | $900.9M | $152.0M |
总债务ANFTROX
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.8B |
股东权益ANFTROX
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.2B | $1.9B | ||
| Q2 24 | $1.1B | $1.9B | ||
| Q1 24 | $1.0B | $1.9B |
总资产ANFTROX
| Q4 25 | $3.5B | $6.2B | ||
| Q3 25 | $3.3B | $6.3B | ||
| Q2 25 | $3.1B | $6.2B | ||
| Q1 25 | $3.3B | $6.1B | ||
| Q4 24 | $3.3B | $6.0B | ||
| Q3 24 | $3.0B | $6.2B | ||
| Q2 24 | $3.0B | $6.1B | ||
| Q1 24 | $3.0B | $6.0B |
负债/权益比ANFTROX
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 2.01× | ||
| Q2 25 | — | 1.67× | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | — | 1.57× | ||
| Q3 24 | — | 1.45× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 1.48× |
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 | $121.0M |
| 自由现金流经营现金流 - 资本支出 | $131.8M | $53.0M |
| 自由现金流率自由现金流/营收 | 10.2% | 7.3% |
| 资本支出强度资本支出/营收 | 5.3% | 9.3% |
| 现金转化率经营现金流/净利润 | 1.77× | — |
| 过去12个月自由现金流最近4个季度 | $384.5M | $-281.0M |
8季度趋势，按日历期对齐
经营现金流ANFTROX
| Q4 25 | $200.1M | $121.0M | ||
| Q3 25 | $116.9M | $-57.0M | ||
| Q2 25 | $-4.0M | $28.0M | ||
| Q1 25 | $307.6M | $-32.0M | ||
| Q4 24 | $142.6M | $82.0M | ||
| Q3 24 | $165.1M | $87.0M | ||
| Q2 24 | $95.0M | $160.0M | ||
| Q1 24 | $303.3M | $-29.0M |
自由现金流ANFTROX
| Q4 25 | $131.8M | $53.0M | ||
| Q3 25 | $50.7M | $-137.0M | ||
| Q2 25 | $-54.8M | $-55.0M | ||
| Q1 25 | $256.8M | $-142.0M | ||
| Q4 24 | $92.2M | $-35.0M | ||
| Q3 24 | $122.3M | $-14.0M | ||
| Q2 24 | $56.1M | $84.0M | ||
| Q1 24 | $274.1M | $-105.0M |
自由现金流率ANFTROX
| Q4 25 | 10.2% | 7.3% | ||
| Q3 25 | 4.2% | -19.6% | ||
| Q2 25 | -5.0% | -7.5% | ||
| Q1 25 | 16.2% | -19.2% | ||
| Q4 24 | 7.6% | -5.2% | ||
| Q3 24 | 10.8% | -1.7% | ||
| Q2 24 | 5.5% | 10.2% | ||
| Q1 24 | 18.9% | -13.6% |
资本支出强度ANFTROX
| Q4 25 | 5.3% | 9.3% | ||
| Q3 25 | 5.5% | 11.4% | ||
| Q2 25 | 4.6% | 11.4% | ||
| Q1 25 | 3.2% | 14.9% | ||
| Q4 24 | 4.2% | 17.3% | ||
| Q3 24 | 3.8% | 12.6% | ||
| Q2 24 | 3.8% | 9.3% | ||
| Q1 24 | 2.0% | 9.8% |
现金转化率ANFTROX
| Q4 25 | 1.77× | — | ||
| Q3 25 | 0.83× | — | ||
| Q2 25 | -0.05× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.08× | — | ||
| Q3 24 | 1.24× | — | ||
| Q2 24 | 0.83× | 10.00× | ||
| Q1 24 | 1.91× | — |
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% |
TROX
| Ti O2 | $577.0M | 79% |
| Zircon | $78.0M | 11% |
| Idle Facility And Lower Of Cost Or Net Realizable Value Charges | $42.0M | 6% |
| Other | $20.0M | 3% |
| MGT | $13.0M | 2% |
