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空气化工产品公司（APD）与TechnipFMC plc（FTI）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TechnipFMC plc的1.2倍（$3.1B vs $2.5B），空气化工产品公司净利率更高（21.9% vs 9.6%，领先12.2%），TechnipFMC plc同比增速更快（6.3% vs 5.8%），TechnipFMC plc自由现金流更多（$359.1M vs $-350.5M），过去两年TechnipFMC plc的营收复合增速更高（11.0% 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。
TechnipFMC是一家注册地位于英国的全球能源服务商，兼具法国与美国企业背景，核心业务为油气领域提供专业技术与服务支持。公司由美国FMC科技与法国Technip于2016年宣布合并，2017年正式完成组建，业务覆盖全球主要能源市场。
APD vs FTI — 直观对比
营收规模更大
APD
是对方的1.2倍
$2.5B
营收增速更快
FTI
高出0.5%
5.8%
净利率更高
APD
高出12.2%
9.6%
自由现金流更多
FTI
多$709.6M
$-350.5M
两年增速更快
FTI
近两年复合增速
2.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $2.5B |
| 净利润 | $678.2M | $242.7M |
| 毛利率 | 32.1% | — |
| 营业利润率 | 23.7% | 12.6% |
| 净利率 | 21.9% | 9.6% |
| 营收同比 | 5.8% | 6.3% |
| 净利润同比 | 9.8% | 8.0% |
| 每股收益（稀释后） | $3.04 | $0.58 |
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APDFTI
| Q4 25 | $3.1B | $2.5B | ||
| Q3 25 | $3.2B | $2.6B | ||
| Q2 25 | $3.0B | $2.5B | ||
| Q1 25 | $2.9B | $2.2B | ||
| Q4 24 | $2.9B | $2.4B | ||
| Q3 24 | $3.2B | $2.3B | ||
| Q2 24 | $3.0B | $2.3B | ||
| Q1 24 | $2.9B | $2.0B |
净利润APDFTI
| Q4 25 | $678.2M | $242.7M | ||
| Q3 25 | $4.9M | $309.7M | ||
| Q2 25 | $713.8M | $269.5M | ||
| Q1 25 | $-1.7B | $142.0M | ||
| Q4 24 | $617.4M | $224.7M | ||
| Q3 24 | $1.9B | $274.6M | ||
| Q2 24 | $696.6M | $186.5M | ||
| Q1 24 | $572.4M | $157.1M |
毛利率APDFTI
| Q4 25 | 32.1% | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 32.5% | 23.1% | ||
| Q1 25 | 29.6% | 20.5% | ||
| Q4 24 | 31.2% | — | ||
| Q3 24 | 34.0% | — | ||
| Q2 24 | 32.8% | 21.2% | ||
| Q1 24 | 32.0% | 16.4% |
营业利润率APDFTI
| Q4 25 | 23.7% | 12.6% | ||
| Q3 25 | 0.5% | 16.5% | ||
| Q2 25 | 26.2% | 15.9% | ||
| Q1 25 | -79.8% | 12.5% | ||
| Q4 24 | 22.0% | 11.3% | ||
| Q3 24 | 76.1% | 13.7% | ||
| Q2 24 | 24.7% | 13.3% | ||
| Q1 24 | 21.7% | 12.7% |
净利率APDFTI
| Q4 25 | 21.9% | 9.6% | ||
| Q3 25 | 0.2% | 11.7% | ||
| Q2 25 | 23.6% | 10.6% | ||
| Q1 25 | -59.3% | 6.4% | ||
| Q4 24 | 21.1% | 9.5% | ||
| Q3 24 | 61.2% | 11.7% | ||
| Q2 24 | 23.3% | 8.0% | ||
| Q1 24 | 19.5% | 7.7% |
每股收益（稀释后）APDFTI
| Q4 25 | $3.04 | $0.58 | ||
| Q3 25 | $0.03 | $0.75 | ||
| Q2 25 | $3.20 | $0.64 | ||
| Q1 25 | $-7.77 | $0.33 | ||
| Q4 24 | $2.77 | $0.51 | ||
| Q3 24 | $8.75 | $0.63 | ||
| Q2 24 | $3.13 | $0.42 | ||
| Q1 24 | $2.57 | $0.35 |
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 | $1.0B |
| 总债务越低越好 | — | $430.0M |
| 股东权益账面价值 | $15.4B | $3.4B |
| 总资产 | $41.2B | $10.1B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资APDFTI
| Q4 25 | $1.0B | $1.0B | ||
| Q3 25 | $1.9B | $876.6M | ||
| Q2 25 | $2.3B | $950.0M | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $2.0B | $1.2B | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.6B | — |
总债务APDFTI
| Q4 25 | — | $430.0M | ||
| Q3 25 | — | $438.0M | ||
| Q2 25 | — | $696.3M | ||
| Q1 25 | — | $904.9M | ||
| Q4 24 | — | $885.2M | ||
| Q3 24 | — | $966.7M | ||
| Q2 24 | — | $968.4M | ||
| Q1 24 | — | $1.0B |
股东权益APDFTI
| Q4 25 | $15.4B | $3.4B | ||
| Q3 25 | $15.0B | $3.3B | ||
| Q2 25 | $15.5B | $3.3B | ||
| Q1 25 | $14.7B | $3.1B | ||
| Q4 24 | $16.7B | $3.1B | ||
| Q3 24 | $17.0B | $3.3B | ||
| Q2 24 | $15.1B | $3.0B | ||
| Q1 24 | $14.9B | $3.0B |
总资产APDFTI
| Q4 25 | $41.2B | $10.1B | ||
| Q3 25 | $41.1B | $10.3B | ||
| Q2 25 | $41.7B | $10.1B | ||
| Q1 25 | $38.9B | $10.0B | ||
| Q4 24 | $40.0B | $9.9B | ||
| Q3 24 | $39.6B | $9.7B | ||
| Q2 24 | $37.0B | $9.2B | ||
| Q1 24 | $35.9B | $9.1B |
负债/权益比APDFTI
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.30× | ||
| Q2 24 | — | 0.33× | ||
| Q1 24 | — | 0.34× |
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 | $453.6M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $359.1M |
| 自由现金流率自由现金流/营收 | -11.3% | 14.3% |
| 资本支出强度资本支出/营收 | 40.3% | 3.8% |
| 现金转化率经营现金流/净利润 | 1.33× | 1.87× |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流APDFTI
| Q4 25 | $900.7M | $453.6M | ||
| Q3 25 | — | $525.1M | ||
| Q2 25 | $855.8M | $344.2M | ||
| Q1 25 | $328.1M | $441.7M | ||
| Q4 24 | $811.7M | $578.9M | ||
| Q3 24 | — | $277.9M | ||
| Q2 24 | $1.3B | $230.9M | ||
| Q1 24 | $801.7M | $-126.7M |
自由现金流APDFTI
| Q4 25 | $-350.5M | $359.1M | ||
| Q3 25 | — | $447.8M | ||
| Q2 25 | $-640.0M | $260.6M | ||
| Q1 25 | $-1.6B | $379.9M | ||
| Q4 24 | $-1.3B | $452.7M | ||
| Q3 24 | — | $225.3M | ||
| Q2 24 | $-345.2M | $180.1M | ||
| Q1 24 | $-867.7M | $-178.7M |
自由现金流率APDFTI
| Q4 25 | -11.3% | 14.3% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | -21.2% | 10.3% | ||
| Q1 25 | -53.6% | 17.0% | ||
| Q4 24 | -44.5% | 19.1% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | -11.6% | 7.7% | ||
| Q1 24 | -29.6% | -8.8% |
资本支出强度APDFTI
| Q4 25 | 40.3% | 3.8% | ||
| Q3 25 | 47.9% | 2.9% | ||
| Q2 25 | 49.5% | 3.3% | ||
| Q1 25 | 64.9% | 2.8% | ||
| Q4 24 | 72.2% | 5.3% | ||
| Q3 24 | 65.1% | 2.2% | ||
| Q2 24 | 53.8% | 2.2% | ||
| Q1 24 | 57.0% | 2.5% |
现金转化率APDFTI
| Q4 25 | 1.33× | 1.87× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | 1.20× | 1.28× | ||
| Q1 25 | — | 3.11× | ||
| Q4 24 | 1.31× | 2.58× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | 1.81× | 1.24× | ||
| Q1 24 | 1.40× | -0.81× |
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% |
FTI
| Services | $1.3B | 52% |
| Products | $1.1B | 44% |
| Other | $55.1M | 2% |
| Surface Technologies | $22.4M | 1% |
