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空气化工产品公司（APD）与Core Natural Resources, Inc.（CNR）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Core Natural Resources, Inc.的3.0倍（$3.1B vs $1.0B）。空气化工产品公司净利率更高（21.9% vs -7.6%，领先29.4%）。Core Natural Resources, Inc.同比增速更快（81.8% vs 5.8%）。Core Natural Resources, Inc.自由现金流更多（$26.0M vs $-350.5M）。过去两年Core Natural Resources, Inc.的营收复合增速更高（38.1% vs 2.9%）
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。
Arch Resources（原阿奇煤炭）曾是美国煤炭开采加工企业，为美国第二大煤炭供应商，仅次于皮博迪能源，2011年占据美国国内15%的市场份额，主营低硫烟煤、次烟煤的开采、加工与销售，客户以发电企业为主。
APD vs CNR — 直观对比
营收规模更大
APD
是对方的3.0倍
$1.0B
营收增速更快
CNR
高出75.9%
5.8%
净利率更高
APD
高出29.4%
-7.6%
自由现金流更多
CNR
多$376.5M
$-350.5M
两年增速更快
CNR
近两年复合增速
2.9%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $1.0B |
| 净利润 | $678.2M | $-79.0M |
| 毛利率 | 32.1% | — |
| 营业利润率 | 23.7% | -9.3% |
| 净利率 | 21.9% | -7.6% |
| 营收同比 | 5.8% | 81.8% |
| 净利润同比 | 9.8% | -356.3% |
| 每股收益（稀释后） | $3.04 | $-1.51 |
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APDCNR
| Q4 25 | $3.1B | $1.0B | ||
| Q3 25 | $3.2B | $1.0B | ||
| Q2 25 | $3.0B | $1.1B | ||
| Q1 25 | $2.9B | $1.0B | ||
| Q4 24 | $2.9B | $573.6M | ||
| Q3 24 | $3.2B | $553.4M | ||
| Q2 24 | $3.0B | $490.7M | ||
| Q1 24 | $2.9B | $546.7M |
净利润APDCNR
| Q4 25 | $678.2M | $-79.0M | ||
| Q3 25 | $4.9M | $31.6M | ||
| Q2 25 | $713.8M | $-36.6M | ||
| Q1 25 | $-1.7B | $-69.3M | ||
| Q4 24 | $617.4M | $30.8M | ||
| Q3 24 | $1.9B | $95.6M | ||
| Q2 24 | $696.6M | $58.1M | ||
| Q1 24 | $572.4M | $101.9M |
毛利率APDCNR
| Q4 25 | 32.1% | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 32.5% | — | ||
| Q1 25 | 29.6% | — | ||
| Q4 24 | 31.2% | — | ||
| Q3 24 | 34.0% | — | ||
| Q2 24 | 32.8% | — | ||
| Q1 24 | 32.0% | — |
营业利润率APDCNR
| Q4 25 | 23.7% | -9.3% | ||
| Q3 25 | 0.5% | -1.2% | ||
| Q2 25 | 26.2% | -1.7% | ||
| Q1 25 | -79.8% | -5.3% | ||
| Q4 24 | 22.0% | 6.6% | ||
| Q3 24 | 76.1% | 21.2% | ||
| Q2 24 | 24.7% | 14.6% | ||
| Q1 24 | 21.7% | 22.7% |
净利率APDCNR
| Q4 25 | 21.9% | -7.6% | ||
| Q3 25 | 0.2% | 3.2% | ||
| Q2 25 | 23.6% | -3.3% | ||
| Q1 25 | -59.3% | -6.8% | ||
| Q4 24 | 21.1% | 5.4% | ||
| Q3 24 | 61.2% | 17.3% | ||
| Q2 24 | 23.3% | 11.8% | ||
| Q1 24 | 19.5% | 18.6% |
每股收益（稀释后）APDCNR
| Q4 25 | $3.04 | $-1.51 | ||
| Q3 25 | $0.03 | $0.61 | ||
| Q2 25 | $3.20 | $-0.70 | ||
| Q1 25 | $-7.77 | $-1.38 | ||
| Q4 24 | $2.77 | $1.04 | ||
| Q3 24 | $8.75 | $3.22 | ||
| Q2 24 | $3.13 | $1.96 | ||
| Q1 24 | $2.57 | $3.39 |
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 | $432.2M |
| 总债务越低越好 | — | $354.2M |
| 股东权益账面价值 | $15.4B | $3.7B |
| 总资产 | $41.2B | $6.1B |
| 负债/权益比越低杠杆越低 | — | 0.10× |
8季度趋势，按日历期对齐
现金及短期投资APDCNR
| Q4 25 | $1.0B | $432.2M | ||
| Q3 25 | $1.9B | $444.7M | ||
| Q2 25 | $2.3B | $413.2M | ||
| Q1 25 | $1.6B | $388.5M | ||
| Q4 24 | $2.0B | $460.2M | ||
| Q3 24 | $3.0B | $331.7M | ||
| Q2 24 | $2.4B | $216.1M | ||
| Q1 24 | $2.6B | $172.6M |
总债务APDCNR
| Q4 25 | — | $354.2M | ||
| Q3 25 | — | $334.5M | ||
| Q2 25 | — | $334.0M | ||
| Q1 25 | — | $329.8M | ||
| Q4 24 | — | $94.8M | ||
| Q3 24 | — | $83.7M | ||
| Q2 24 | — | $184.9M | ||
| Q1 24 | — | $185.5M |
股东权益APDCNR
| Q4 25 | $15.4B | $3.7B | ||
| Q3 25 | $15.0B | $3.8B | ||
| Q2 25 | $15.5B | $3.8B | ||
| Q1 25 | $14.7B | $3.9B | ||
| Q4 24 | $16.7B | $1.6B | ||
| Q3 24 | $17.0B | $1.5B | ||
| Q2 24 | $15.1B | $1.4B | ||
| Q1 24 | $14.9B | $1.4B |
总资产APDCNR
| Q4 25 | $41.2B | $6.1B | ||
| Q3 25 | $41.1B | $6.2B | ||
| Q2 25 | $41.7B | $6.2B | ||
| Q1 25 | $38.9B | $6.3B | ||
| Q4 24 | $40.0B | $2.9B | ||
| Q3 24 | $39.6B | $2.8B | ||
| Q2 24 | $37.0B | $2.7B | ||
| Q1 24 | $35.9B | $2.7B |
负债/权益比APDCNR
| Q4 25 | — | 0.10× | ||
| Q3 25 | — | 0.09× | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.05× | ||
| Q2 24 | — | 0.13× | ||
| Q1 24 | — | 0.13× |
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 | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $26.0M |
| 自由现金流率自由现金流/营收 | -11.3% | 2.5% |
| 资本支出强度资本支出/营收 | 40.3% | 7.8% |
| 现金转化率经营现金流/净利润 | 1.33× | — |
| 过去12个月自由现金流最近4个季度 | — | $21.2M |
8季度趋势，按日历期对齐
经营现金流APDCNR
| Q4 25 | $900.7M | $107.3M | ||
| Q3 25 | — | $87.9M | ||
| Q2 25 | $855.8M | $220.2M | ||
| Q1 25 | $328.1M | $-109.6M | ||
| Q4 24 | $811.7M | $121.3M | ||
| Q3 24 | — | $161.3M | ||
| Q2 24 | $1.3B | $116.3M | ||
| Q1 24 | $801.7M | $77.5M |
自由现金流APDCNR
| Q4 25 | $-350.5M | $26.0M | ||
| Q3 25 | — | $38.6M | ||
| Q2 25 | $-640.0M | $131.0M | ||
| Q1 25 | $-1.6B | $-174.5M | ||
| Q4 24 | $-1.3B | $80.5M | ||
| Q3 24 | — | $121.9M | ||
| Q2 24 | $-345.2M | $60.9M | ||
| Q1 24 | $-867.7M | $35.1M |
自由现金流率APDCNR
| Q4 25 | -11.3% | 2.5% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | -21.2% | 11.9% | ||
| Q1 25 | -53.6% | -17.1% | ||
| Q4 24 | -44.5% | 14.0% | ||
| Q3 24 | — | 22.0% | ||
| Q2 24 | -11.6% | 12.4% | ||
| Q1 24 | -29.6% | 6.4% |
资本支出强度APDCNR
| Q4 25 | 40.3% | 7.8% | ||
| Q3 25 | 47.9% | 4.9% | ||
| Q2 25 | 49.5% | 8.1% | ||
| Q1 25 | 64.9% | 6.4% | ||
| Q4 24 | 72.2% | 7.1% | ||
| Q3 24 | 65.1% | 7.1% | ||
| Q2 24 | 53.8% | 11.3% | ||
| Q1 24 | 57.0% | 7.7% |
现金转化率APDCNR
| Q4 25 | 1.33× | — | ||
| Q3 25 | — | 2.78× | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.31× | 3.94× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | 1.81× | 2.00× | ||
| Q1 24 | 1.40× | 0.76× |
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% |
CNR
| Other | $397.4M | 38% |
| Power Generation | $376.5M | 36% |
| PRB | $183.0M | 18% |
| Metallurgical | $42.0M | 4% |
| Industrial | $34.1M | 3% |
| Terminal Revenue | $6.4M | 1% |
| Other Revenue | $3.0M | 0% |
