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空气化工产品公司（APD）与Deckers Brands（DECK）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Deckers Brands的1.6倍（$3.1B vs $2.0B），Deckers Brands净利率更高（24.6% vs 21.9%，领先2.7%），Deckers Brands同比增速更快（7.1% vs 5.8%），Deckers Brands自由现金流更多（$1.0B vs $-350.5M），过去两年Deckers Brands的营收复合增速更高（42.8% 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。
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
APD vs DECK — 直观对比
营收规模更大
APD
是对方的1.6倍
$2.0B
营收增速更快
DECK
高出1.3%
5.8%
净利率更高
DECK
高出2.7%
21.9%
自由现金流更多
DECK
多$1.4B
$-350.5M
两年增速更快
DECK
近两年复合增速
2.9%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $2.0B |
| 净利润 | $678.2M | $481.1M |
| 毛利率 | 32.1% | 59.8% |
| 营业利润率 | 23.7% | 31.4% |
| 净利率 | 21.9% | 24.6% |
| 营收同比 | 5.8% | 7.1% |
| 净利润同比 | 9.8% | 5.3% |
| 每股收益（稀释后） | $3.04 | $3.33 |
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APDDECK
| Q4 25 | $3.1B | $2.0B | ||
| Q3 25 | $3.2B | $1.4B | ||
| Q2 25 | $3.0B | $964.5M | ||
| Q1 25 | $2.9B | $1.0B | ||
| Q4 24 | $2.9B | $1.8B | ||
| Q3 24 | $3.2B | $1.3B | ||
| Q2 24 | $3.0B | $825.3M | ||
| Q1 24 | $2.9B | $959.8M |
净利润APDDECK
| Q4 25 | $678.2M | $481.1M | ||
| Q3 25 | $4.9M | $268.2M | ||
| Q2 25 | $713.8M | $139.2M | ||
| Q1 25 | $-1.7B | $151.4M | ||
| Q4 24 | $617.4M | $456.7M | ||
| Q3 24 | $1.9B | $242.3M | ||
| Q2 24 | $696.6M | $115.6M | ||
| Q1 24 | $572.4M | $127.5M |
毛利率APDDECK
| Q4 25 | 32.1% | 59.8% | ||
| Q3 25 | 32.3% | 56.2% | ||
| Q2 25 | 32.5% | 55.8% | ||
| Q1 25 | 29.6% | 56.7% | ||
| Q4 24 | 31.2% | 60.3% | ||
| Q3 24 | 34.0% | 55.9% | ||
| Q2 24 | 32.8% | 56.9% | ||
| Q1 24 | 32.0% | 56.2% |
营业利润率APDDECK
| Q4 25 | 23.7% | 31.4% | ||
| Q3 25 | 0.5% | 22.8% | ||
| Q2 25 | 26.2% | 17.1% | ||
| Q1 25 | -79.8% | 17.0% | ||
| Q4 24 | 22.0% | 31.0% | ||
| Q3 24 | 76.1% | 23.3% | ||
| Q2 24 | 24.7% | 16.1% | ||
| Q1 24 | 21.7% | 15.0% |
净利率APDDECK
| Q4 25 | 21.9% | 24.6% | ||
| Q3 25 | 0.2% | 18.7% | ||
| Q2 25 | 23.6% | 14.4% | ||
| Q1 25 | -59.3% | 14.8% | ||
| Q4 24 | 21.1% | 25.0% | ||
| Q3 24 | 61.2% | 18.5% | ||
| Q2 24 | 23.3% | 14.0% | ||
| Q1 24 | 19.5% | 13.3% |
每股收益（稀释后）APDDECK
| Q4 25 | $3.04 | $3.33 | ||
| Q3 25 | $0.03 | $1.82 | ||
| Q2 25 | $3.20 | $0.93 | ||
| Q1 25 | $-7.77 | $-2.78 | ||
| Q4 24 | $2.77 | $3.00 | ||
| Q3 24 | $8.75 | $1.59 | ||
| Q2 24 | $3.13 | $4.52 | ||
| Q1 24 | $2.57 | $4.82 |
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 | $2.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $15.4B | $2.6B |
| 总资产 | $41.2B | $4.1B |
| 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APDDECK
| Q4 25 | $1.0B | $2.1B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $2.3B | $1.7B | ||
| Q1 25 | $1.6B | $1.9B | ||
| Q4 24 | $2.0B | $2.2B | ||
| Q3 24 | $3.0B | $1.2B | ||
| Q2 24 | $2.4B | $1.4B | ||
| Q1 24 | $2.6B | $1.5B |
股东权益APDDECK
| Q4 25 | $15.4B | $2.6B | ||
| Q3 25 | $15.0B | $2.5B | ||
| Q2 25 | $15.5B | $2.5B | ||
| Q1 25 | $14.7B | $2.5B | ||
| Q4 24 | $16.7B | $2.6B | ||
| Q3 24 | $17.0B | $2.2B | ||
| Q2 24 | $15.1B | $2.1B | ||
| Q1 24 | $14.9B | $2.1B |
总资产APDDECK
| Q4 25 | $41.2B | $4.1B | ||
| Q3 25 | $41.1B | $3.8B | ||
| Q2 25 | $41.7B | $3.8B | ||
| Q1 25 | $38.9B | $3.6B | ||
| Q4 24 | $40.0B | $4.0B | ||
| Q3 24 | $39.6B | $3.4B | ||
| Q2 24 | $37.0B | $3.3B | ||
| Q1 24 | $35.9B | $3.1B |
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 | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $1.0B |
| 自由现金流率自由现金流/营收 | -11.3% | 52.1% |
| 资本支出强度资本支出/营收 | 40.3% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.33× | 2.17× |
| 过去12个月自由现金流最近4个季度 | — | $929.1M |
8季度趋势，按日历期对齐
经营现金流APDDECK
| Q4 25 | $900.7M | $1.0B | ||
| Q3 25 | — | $8.1M | ||
| Q2 25 | $855.8M | $36.1M | ||
| Q1 25 | $328.1M | $-73.0M | ||
| Q4 24 | $811.7M | $1.1B | ||
| Q3 24 | — | $-90.5M | ||
| Q2 24 | $1.3B | $112.7M | ||
| Q1 24 | $801.7M | $-28.7M |
自由现金流APDDECK
| Q4 25 | $-350.5M | $1.0B | ||
| Q3 25 | — | $-13.9M | ||
| Q2 25 | $-640.0M | $12.2M | ||
| Q1 25 | $-1.6B | $-89.4M | ||
| Q4 24 | $-1.3B | $1.1B | ||
| Q3 24 | — | $-113.4M | ||
| Q2 24 | $-345.2M | $90.1M | ||
| Q1 24 | $-867.7M | $-44.0M |
自由现金流率APDDECK
| Q4 25 | -11.3% | 52.1% | ||
| Q3 25 | — | -1.0% | ||
| Q2 25 | -21.2% | 1.3% | ||
| Q1 25 | -53.6% | -8.8% | ||
| Q4 24 | -44.5% | 58.6% | ||
| Q3 24 | — | -8.6% | ||
| Q2 24 | -11.6% | 10.9% | ||
| Q1 24 | -29.6% | -4.6% |
资本支出强度APDDECK
| Q4 25 | 40.3% | 1.1% | ||
| Q3 25 | 47.9% | 1.5% | ||
| Q2 25 | 49.5% | 2.5% | ||
| Q1 25 | 64.9% | 1.6% | ||
| Q4 24 | 72.2% | 1.3% | ||
| Q3 24 | 65.1% | 1.7% | ||
| Q2 24 | 53.8% | 2.7% | ||
| Q1 24 | 57.0% | 1.6% |
现金转化率APDDECK
| Q4 25 | 1.33× | 2.17× | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | 1.20× | 0.26× | ||
| Q1 25 | — | -0.48× | ||
| Q4 24 | 1.31× | 2.40× | ||
| Q3 24 | — | -0.37× | ||
| Q2 24 | 1.81× | 0.97× | ||
| Q1 24 | 1.40× | -0.22× |
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% |
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
