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空气化工产品公司（APD）与Coca-Cola Consolidated, Inc.（COKE）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Coca-Cola Consolidated, Inc.的1.6倍（$3.1B vs $1.9B），空气化工产品公司净利率更高（21.9% vs 7.2%，领先14.7%），Coca-Cola Consolidated, Inc.同比增速更快（9.0% vs 5.8%），Coca-Cola Consolidated, Inc.自由现金流更多（$106.7M vs $-350.5M），过去两年Coca-Cola Consolidated, Inc.的营收复合增速更高（9.4% 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。
Coca-Cola Consolidated, Inc.总部位于美国北卡罗来纳州夏洛特市，是美国规模最大的独立可口可乐瓶装商，负责可口可乐系列饮品的生产、分销及本地化市场运营，在北美饮料行业拥有较高的行业地位。
APD vs COKE — 直观对比
营收规模更大
APD
是对方的1.6倍
$1.9B
营收增速更快
COKE
高出3.2%
5.8%
净利率更高
APD
高出14.7%
7.2%
自由现金流更多
COKE
多$457.2M
$-350.5M
两年增速更快
COKE
近两年复合增速
2.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $1.9B |
| 净利润 | $678.2M | $137.3M |
| 毛利率 | 32.1% | 39.6% |
| 营业利润率 | 23.7% | 12.7% |
| 净利率 | 21.9% | 7.2% |
| 营收同比 | 5.8% | 9.0% |
| 净利润同比 | 9.8% | -23.3% |
| 每股收益（稀释后） | $3.04 | — |
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APDCOKE
| Q4 25 | $3.1B | $1.9B | ||
| Q3 25 | $3.2B | $1.9B | ||
| Q2 25 | $3.0B | $1.9B | ||
| Q1 25 | $2.9B | $1.6B | ||
| Q4 24 | $2.9B | $1.7B | ||
| Q3 24 | $3.2B | $1.8B | ||
| Q2 24 | $3.0B | $1.8B | ||
| Q1 24 | $2.9B | $1.6B |
净利润APDCOKE
| Q4 25 | $678.2M | $137.3M | ||
| Q3 25 | $4.9M | $142.3M | ||
| Q2 25 | $713.8M | $187.4M | ||
| Q1 25 | $-1.7B | $103.6M | ||
| Q4 24 | $617.4M | $178.9M | ||
| Q3 24 | $1.9B | $115.6M | ||
| Q2 24 | $696.6M | $172.8M | ||
| Q1 24 | $572.4M | $165.7M |
毛利率APDCOKE
| Q4 25 | 32.1% | 39.6% | ||
| Q3 25 | 32.3% | 39.6% | ||
| Q2 25 | 32.5% | 40.0% | ||
| Q1 25 | 29.6% | 39.7% | ||
| Q4 24 | 31.2% | 40.0% | ||
| Q3 24 | 34.0% | 39.5% | ||
| Q2 24 | 32.8% | 39.9% | ||
| Q1 24 | 32.0% | 40.2% |
营业利润率APDCOKE
| Q4 25 | 23.7% | 12.7% | ||
| Q3 25 | 0.5% | 13.1% | ||
| Q2 25 | 26.2% | 14.7% | ||
| Q1 25 | -79.8% | 12.0% | ||
| Q4 24 | 22.0% | 12.5% | ||
| Q3 24 | 76.1% | 12.9% | ||
| Q2 24 | 24.7% | 14.4% | ||
| Q1 24 | 21.7% | 13.5% |
净利率APDCOKE
| Q4 25 | 21.9% | 7.2% | ||
| Q3 25 | 0.2% | 7.5% | ||
| Q2 25 | 23.6% | 10.1% | ||
| Q1 25 | -59.3% | 6.6% | ||
| Q4 24 | 21.1% | 10.2% | ||
| Q3 24 | 61.2% | 6.5% | ||
| Q2 24 | 23.3% | 9.6% | ||
| Q1 24 | 19.5% | 10.4% |
每股收益（稀释后）APDCOKE
| Q4 25 | $3.04 | — | ||
| Q3 25 | $0.03 | — | ||
| Q2 25 | $3.20 | — | ||
| Q1 25 | $-7.77 | — | ||
| Q4 24 | $2.77 | — | ||
| Q3 24 | $8.75 | — | ||
| Q2 24 | $3.13 | — | ||
| Q1 24 | $2.57 | — |
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 | $281.9M |
| 总债务越低越好 | — | $2.8B |
| 股东权益账面价值 | $15.4B | $-739.7M |
| 总资产 | $41.2B | $4.3B |
| 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APDCOKE
| Q4 25 | $1.0B | $281.9M | ||
| Q3 25 | $1.9B | $1.5B | ||
| Q2 25 | $2.3B | $1.2B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $2.0B | $1.1B | ||
| Q3 24 | $3.0B | $1.2B | ||
| Q2 24 | $2.4B | $1.7B | ||
| Q1 24 | $2.6B | $401.3M |
总债务APDCOKE
| Q4 25 | — | $2.8B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $599.3M |
股东权益APDCOKE
| Q4 25 | $15.4B | $-739.7M | ||
| Q3 25 | $15.0B | $1.6B | ||
| Q2 25 | $15.5B | $1.6B | ||
| Q1 25 | $14.7B | $1.5B | ||
| Q4 24 | $16.7B | $1.4B | ||
| Q3 24 | $17.0B | $1.3B | ||
| Q2 24 | $15.1B | $1.2B | ||
| Q1 24 | $14.9B | $1.6B |
总资产APDCOKE
| Q4 25 | $41.2B | $4.3B | ||
| Q3 25 | $41.1B | $5.7B | ||
| Q2 25 | $41.7B | $5.5B | ||
| Q1 25 | $38.9B | $5.4B | ||
| Q4 24 | $40.0B | $5.3B | ||
| Q3 24 | $39.6B | $5.3B | ||
| Q2 24 | $37.0B | $5.7B | ||
| Q1 24 | $35.9B | $4.3B |
负债/权益比APDCOKE
| Q4 25 | — | — | ||
| Q3 25 | — | 1.09× | ||
| Q2 25 | — | 1.10× | ||
| Q1 25 | — | 1.19× | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | — | 1.49× | ||
| Q1 24 | — | 0.37× |
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 | $209.0M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $106.7M |
| 自由现金流率自由现金流/营收 | -11.3% | 5.6% |
| 资本支出强度资本支出/营收 | 40.3% | 5.4% |
| 现金转化率经营现金流/净利润 | 1.33× | 1.52× |
| 过去12个月自由现金流最近4个季度 | — | $619.6M |
8季度趋势，按日历期对齐
经营现金流APDCOKE
| Q4 25 | $900.7M | $209.0M | ||
| Q3 25 | — | $316.7M | ||
| Q2 25 | $855.8M | $208.1M | ||
| Q1 25 | $328.1M | $198.2M | ||
| Q4 24 | $811.7M | $168.5M | ||
| Q3 24 | — | $270.8M | ||
| Q2 24 | $1.3B | $242.9M | ||
| Q1 24 | $801.7M | $194.3M |
自由现金流APDCOKE
| Q4 25 | $-350.5M | $106.7M | ||
| Q3 25 | — | $264.1M | ||
| Q2 25 | $-640.0M | $148.5M | ||
| Q1 25 | $-1.6B | $100.3M | ||
| Q4 24 | $-1.3B | $84.8M | ||
| Q3 24 | — | $142.8M | ||
| Q2 24 | $-345.2M | $160.5M | ||
| Q1 24 | $-867.7M | $117.2M |
自由现金流率APDCOKE
| Q4 25 | -11.3% | 5.6% | ||
| Q3 25 | — | 14.0% | ||
| Q2 25 | -21.2% | 8.0% | ||
| Q1 25 | -53.6% | 6.3% | ||
| Q4 24 | -44.5% | 4.9% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | -11.6% | 8.9% | ||
| Q1 24 | -29.6% | 7.4% |
资本支出强度APDCOKE
| Q4 25 | 40.3% | 5.4% | ||
| Q3 25 | 47.9% | 2.8% | ||
| Q2 25 | 49.5% | 3.2% | ||
| Q1 25 | 64.9% | 6.2% | ||
| Q4 24 | 72.2% | 4.8% | ||
| Q3 24 | 65.1% | 7.2% | ||
| Q2 24 | 53.8% | 4.6% | ||
| Q1 24 | 57.0% | 4.8% |
现金转化率APDCOKE
| Q4 25 | 1.33× | 1.52× | ||
| Q3 25 | — | 2.22× | ||
| Q2 25 | 1.20× | 1.11× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | 1.31× | 0.94× | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | 1.81× | 1.41× | ||
| Q1 24 | 1.40× | 1.17× |
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% |
COKE
| Transferred At Point In Time | $1.9B | 99% |
| Transferred Over Time | $15.1M | 1% |
