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空气化工产品公司（APD）与艾仕得（AXTA）财务数据对比。点击上方公司名可切换其他公司
空气化工产品公司的季度营收约是艾仕得的2.5倍（$3.1B vs $1.3B）。空气化工产品公司净利率更高（21.9% vs 4.8%，领先17.1%）。空气化工产品公司同比增速更快（5.8% vs -3.7%）。艾仕得自由现金流更多（$286.0M vs $-350.5M）。过去两年空气化工产品公司的营收复合增速更高（2.9% vs -1.2%）
空气化工产品公司是全球知名的工业气体供应商，业务覆盖全球各地，主营大气气体、工艺气体、特种气体、相关设备及服务，产品涵盖氧气、氮气、氩气、氢气、氦气、二氧化碳、一氧化碳、合成气等，同时供应空分装置、非低温发生器等气体生产处理设备，服务炼油、化工、气化等多个行业领域。
艾仕得是源自美国的专业涂料供应商，总部位于宾夕法尼亚州费城，注册地为百慕大。公司主营乘用车、商用车、工业场景及修补用途涂料的研发与生产，业务覆盖全球130个国家，拥有近1.3万名员工，服务超10万家客户。
APD vs AXTA — 直观对比
营收规模更大
APD
是对方的2.5倍
$1.3B
营收增速更快
APD
高出9.6%
-3.7%
净利率更高
APD
高出17.1%
4.8%
自由现金流更多
AXTA
多$636.5M
$-350.5M
两年增速更快
APD
近两年复合增速
-1.2%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $1.3B |
| 净利润 | $678.2M | $60.0M |
| 毛利率 | 32.1% | 33.4% |
| 营业利润率 | 23.7% | 12.8% |
| 净利率 | 21.9% | 4.8% |
| 营收同比 | 5.8% | -3.7% |
| 净利润同比 | 9.8% | -56.2% |
| 每股收益（稀释后） | $3.04 | $0.28 |
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APDAXTA
| Q4 25 | $3.1B | $1.3B | ||
| Q3 25 | $3.2B | $1.3B | ||
| Q2 25 | $3.0B | $1.3B | ||
| Q1 25 | $2.9B | $1.3B | ||
| Q4 24 | $2.9B | $1.3B | ||
| Q3 24 | $3.2B | $1.3B | ||
| Q2 24 | $3.0B | $1.4B | ||
| Q1 24 | $2.9B | $1.3B |
净利润APDAXTA
| Q4 25 | $678.2M | $60.0M | ||
| Q3 25 | $4.9M | $110.0M | ||
| Q2 25 | $713.8M | $109.0M | ||
| Q1 25 | $-1.7B | $99.0M | ||
| Q4 24 | $617.4M | $137.0M | ||
| Q3 24 | $1.9B | $101.0M | ||
| Q2 24 | $696.6M | $112.0M | ||
| Q1 24 | $572.4M | $41.0M |
毛利率APDAXTA
| Q4 25 | 32.1% | 33.4% | ||
| Q3 25 | 32.3% | 34.9% | ||
| Q2 25 | 32.5% | 35.0% | ||
| Q1 25 | 29.6% | 34.3% | ||
| Q4 24 | 31.2% | 34.1% | ||
| Q3 24 | 34.0% | 35.0% | ||
| Q2 24 | 32.8% | 34.0% | ||
| Q1 24 | 32.0% | 33.2% |
营业利润率APDAXTA
| Q4 25 | 23.7% | 12.8% | ||
| Q3 25 | 0.5% | 15.8% | ||
| Q2 25 | 26.2% | 14.8% | ||
| Q1 25 | -79.8% | 13.9% | ||
| Q4 24 | 22.0% | 14.3% | ||
| Q3 24 | 76.1% | 14.6% | ||
| Q2 24 | 24.7% | 15.2% | ||
| Q1 24 | 21.7% | 9.4% |
净利率APDAXTA
| Q4 25 | 21.9% | 4.8% | ||
| Q3 25 | 0.2% | 8.5% | ||
| Q2 25 | 23.6% | 8.4% | ||
| Q1 25 | -59.3% | 7.8% | ||
| Q4 24 | 21.1% | 10.5% | ||
| Q3 24 | 61.2% | 7.7% | ||
| Q2 24 | 23.3% | 8.3% | ||
| Q1 24 | 19.5% | 3.2% |
每股收益（稀释后）APDAXTA
| Q4 25 | $3.04 | $0.28 | ||
| Q3 25 | $0.03 | $0.51 | ||
| Q2 25 | $3.20 | $0.50 | ||
| Q1 25 | $-7.77 | $0.45 | ||
| Q4 24 | $2.77 | $0.63 | ||
| Q3 24 | $8.75 | $0.46 | ||
| Q2 24 | $3.13 | $0.51 | ||
| Q1 24 | $2.57 | $0.18 |
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 | $1.0B | $657.0M |
| 总债务越低越好 | — | $3.2B |
| 股东权益账面价值 | $15.4B | $2.3B |
| 总资产 | $41.2B | $7.6B |
| 负债/权益比越低杠杆越低 | — | 1.36× |
8季度趋势，按日历期对齐
现金及短期投资APDAXTA
| Q4 25 | $1.0B | $657.0M | ||
| Q3 25 | $1.9B | $606.0M | ||
| Q2 25 | $2.3B | $625.0M | ||
| Q1 25 | $1.6B | $575.0M | ||
| Q4 24 | $2.0B | $593.0M | ||
| Q3 24 | $3.0B | $567.0M | ||
| Q2 24 | $2.4B | $840.0M | ||
| Q1 24 | $2.6B | $624.0M |
总债务APDAXTA
| Q4 25 | — | $3.2B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | — | $3.4B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.5B | ||
| Q2 24 | — | $3.6B | ||
| Q1 24 | — | $3.4B |
股东权益APDAXTA
| Q4 25 | $15.4B | $2.3B | ||
| Q3 25 | $15.0B | $2.3B | ||
| Q2 25 | $15.5B | $2.3B | ||
| Q1 25 | $14.7B | $2.1B | ||
| Q4 24 | $16.7B | $1.9B | ||
| Q3 24 | $17.0B | $1.9B | ||
| Q2 24 | $15.1B | $1.8B | ||
| Q1 24 | $14.9B | $1.7B |
总资产APDAXTA
| Q4 25 | $41.2B | $7.6B | ||
| Q3 25 | $41.1B | $7.8B | ||
| Q2 25 | $41.7B | $7.8B | ||
| Q1 25 | $38.9B | $7.4B | ||
| Q4 24 | $40.0B | $7.2B | ||
| Q3 24 | $39.6B | $7.5B | ||
| Q2 24 | $37.0B | $7.3B | ||
| Q1 24 | $35.9B | $7.1B |
负债/权益比APDAXTA
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.48× | ||
| Q2 25 | — | 1.50× | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 1.84× | ||
| Q2 24 | — | 2.02× | ||
| Q1 24 | — | 1.97× |
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 | $900.7M | $344.0M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $286.0M |
| 自由现金流率自由现金流/营收 | -11.3% | 22.7% |
| 资本支出强度资本支出/营收 | 40.3% | 4.6% |
| 现金转化率经营现金流/净利润 | 1.33× | 5.73× |
| 过去12个月自由现金流最近4个季度 | — | $453.0M |
8季度趋势，按日历期对齐
经营现金流APDAXTA
| Q4 25 | $900.7M | $344.0M | ||
| Q3 25 | — | $137.0M | ||
| Q2 25 | $855.8M | $142.0M | ||
| Q1 25 | $328.1M | $26.0M | ||
| Q4 24 | $811.7M | $234.0M | ||
| Q3 24 | — | $194.0M | ||
| Q2 24 | $1.3B | $114.0M | ||
| Q1 24 | $801.7M | $34.0M |
自由现金流APDAXTA
| Q4 25 | $-350.5M | $286.0M | ||
| Q3 25 | — | $87.0M | ||
| Q2 25 | $-640.0M | $97.0M | ||
| Q1 25 | $-1.6B | $-17.0M | ||
| Q4 24 | $-1.3B | $172.0M | ||
| Q3 24 | — | $161.0M | ||
| Q2 24 | $-345.2M | $91.0M | ||
| Q1 24 | $-867.7M | $12.0M |
自由现金流率APDAXTA
| Q4 25 | -11.3% | 22.7% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | -21.2% | 7.4% | ||
| Q1 25 | -53.6% | -1.3% | ||
| Q4 24 | -44.5% | 13.1% | ||
| Q3 24 | — | 12.2% | ||
| Q2 24 | -11.6% | 6.7% | ||
| Q1 24 | -29.6% | 0.9% |
资本支出强度APDAXTA
| Q4 25 | 40.3% | 4.6% | ||
| Q3 25 | 47.9% | 3.9% | ||
| Q2 25 | 49.5% | 3.4% | ||
| Q1 25 | 64.9% | 3.4% | ||
| Q4 24 | 72.2% | 4.7% | ||
| Q3 24 | 65.1% | 2.5% | ||
| Q2 24 | 53.8% | 1.7% | ||
| Q1 24 | 57.0% | 1.7% |
现金转化率APDAXTA
| Q4 25 | 1.33× | 5.73× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | 1.20× | 1.30× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | 1.31× | 1.71× | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | 1.81× | 1.02× | ||
| Q1 24 | 1.40× | 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
APD
| Other | $1.6B | 53% |
| Onsite | $783.9M | 25% |
| Merchant | $557.8M | 18% |
| Saleof Equipment | $117.0M | 4% |
AXTA
| Refinish | $509.0M | 40% |
| Light Vehicle | $372.0M | 29% |
| Industrial | $282.0M | 22% |
| Commercial Vehicle | $99.0M | 8% |
