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空气化工产品公司（APD）与WARRIOR MET COAL, INC.（HCC）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WARRIOR MET COAL, INC.的8.1倍（$3.1B vs $384.0M）。空气化工产品公司净利率更高（21.9% vs 6.0%，领先15.9%）。WARRIOR MET COAL, INC.同比增速更快（29.1% vs 5.8%）。过去两年空气化工产品公司的营收复合增速更高（2.9% vs -12.7%）
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。
Warrior Met Coal（股票代码HCC）是总部位于美国的矿业企业，主营高品质冶金煤的开采与供应，其产品是钢铁制造的核心原材料，主要服务北美、欧洲、亚洲地区的钢铁生产商及工业客户。
APD vs HCC — 直观对比
营收规模更大
APD
是对方的8.1倍
$384.0M
营收增速更快
HCC
高出23.3%
5.8%
净利率更高
APD
高出15.9%
6.0%
两年增速更快
APD
近两年复合增速
-12.7%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $384.0M |
| 净利润 | $678.2M | $23.0M |
| 毛利率 | 32.1% | 29.5% |
| 营业利润率 | 23.7% | 9.0% |
| 净利率 | 21.9% | 6.0% |
| 营收同比 | 5.8% | 29.1% |
| 净利润同比 | 9.8% | 1919.5% |
| 每股收益（稀释后） | $3.04 | $0.43 |
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APDHCC
| Q4 25 | $3.1B | $384.0M | ||
| Q3 25 | $3.2B | $328.6M | ||
| Q2 25 | $3.0B | $297.5M | ||
| Q1 25 | $2.9B | $299.9M | ||
| Q4 24 | $2.9B | $297.5M | ||
| Q3 24 | $3.2B | $327.7M | ||
| Q2 24 | $3.0B | $396.5M | ||
| Q1 24 | $2.9B | $503.5M |
净利润APDHCC
| Q4 25 | $678.2M | $23.0M | ||
| Q3 25 | $4.9M | $36.6M | ||
| Q2 25 | $713.8M | $5.6M | ||
| Q1 25 | $-1.7B | $-8.2M | ||
| Q4 24 | $617.4M | $1.1M | ||
| Q3 24 | $1.9B | $41.8M | ||
| Q2 24 | $696.6M | $70.7M | ||
| Q1 24 | $572.4M | $137.0M |
毛利率APDHCC
| Q4 25 | 32.1% | 29.5% | ||
| Q3 25 | 32.3% | 27.1% | ||
| Q2 25 | 32.5% | 23.9% | ||
| Q1 25 | 29.6% | 18.1% | ||
| Q4 24 | 31.2% | 23.1% | ||
| Q3 24 | 34.0% | 29.3% | ||
| Q2 24 | 32.8% | 34.1% | ||
| Q1 24 | 32.0% | 43.3% |
营业利润率APDHCC
| Q4 25 | 23.7% | 9.0% | ||
| Q3 25 | 0.5% | 6.3% | ||
| Q2 25 | 26.2% | 2.6% | ||
| Q1 25 | -79.8% | -5.8% | ||
| Q4 24 | 22.0% | -1.4% | ||
| Q3 24 | 76.1% | 11.9% | ||
| Q2 24 | 24.7% | 17.9% | ||
| Q1 24 | 21.7% | 29.6% |
净利率APDHCC
| Q4 25 | 21.9% | 6.0% | ||
| Q3 25 | 0.2% | 11.1% | ||
| Q2 25 | 23.6% | 1.9% | ||
| Q1 25 | -59.3% | -2.7% | ||
| Q4 24 | 21.1% | 0.4% | ||
| Q3 24 | 61.2% | 12.7% | ||
| Q2 24 | 23.3% | 17.8% | ||
| Q1 24 | 19.5% | 27.2% |
每股收益（稀释后）APDHCC
| Q4 25 | $3.04 | $0.43 | ||
| Q3 25 | $0.03 | $0.70 | ||
| Q2 25 | $3.20 | $0.11 | ||
| Q1 25 | $-7.77 | $-0.16 | ||
| Q4 24 | $2.77 | $0.02 | ||
| Q3 24 | $8.75 | $0.80 | ||
| Q2 24 | $3.13 | $1.35 | ||
| Q1 24 | $2.57 | $2.62 |
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 | $300.0M |
| 总债务越低越好 | — | $154.3M |
| 股东权益账面价值 | $15.4B | $2.1B |
| 总资产 | $41.2B | $2.8B |
| 负债/权益比越低杠杆越低 | — | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资APDHCC
| Q4 25 | $1.0B | $300.0M | ||
| Q3 25 | $1.9B | $336.3M | ||
| Q2 25 | $2.3B | $383.3M | ||
| Q1 25 | $1.6B | $454.9M | ||
| Q4 24 | $2.0B | $491.5M | ||
| Q3 24 | $3.0B | $583.2M | ||
| Q2 24 | $2.4B | $709.0M | ||
| Q1 24 | $2.6B | $693.9M |
总债务APDHCC
| Q4 25 | — | $154.3M | ||
| Q3 25 | — | $154.1M | ||
| Q2 25 | — | $153.9M | ||
| Q1 25 | — | $153.8M | ||
| Q4 24 | — | $153.6M | ||
| Q3 24 | — | $153.5M | ||
| Q2 24 | — | $153.3M | ||
| Q1 24 | — | $153.2M |
股东权益APDHCC
| Q4 25 | $15.4B | $2.1B | ||
| Q3 25 | $15.0B | $2.1B | ||
| Q2 25 | $15.5B | $2.1B | ||
| Q1 25 | $14.7B | $2.1B | ||
| Q4 24 | $16.7B | $2.1B | ||
| Q3 24 | $17.0B | $2.1B | ||
| Q2 24 | $15.1B | $2.0B | ||
| Q1 24 | $14.9B | $2.0B |
总资产APDHCC
| Q4 25 | $41.2B | $2.8B | ||
| Q3 25 | $41.1B | $2.7B | ||
| Q2 25 | $41.7B | $2.6B | ||
| Q1 25 | $38.9B | $2.6B | ||
| Q4 24 | $40.0B | $2.6B | ||
| Q3 24 | $39.6B | $2.6B | ||
| Q2 24 | $37.0B | $2.6B | ||
| Q1 24 | $35.9B | $2.5B |
负债/权益比APDHCC
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.08× |
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 | $76.1M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | — |
| 自由现金流率自由现金流/营收 | -11.3% | — |
| 资本支出强度资本支出/营收 | 40.3% | — |
| 现金转化率经营现金流/净利润 | 1.33× | 3.31× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流APDHCC
| Q4 25 | $900.7M | $76.1M | ||
| Q3 25 | — | $104.7M | ||
| Q2 25 | $855.8M | $37.5M | ||
| Q1 25 | $328.1M | $10.9M | ||
| Q4 24 | $811.7M | $54.2M | ||
| Q3 24 | — | $62.2M | ||
| Q2 24 | $1.3B | $147.0M | ||
| Q1 24 | $801.7M | $104.1M |
自由现金流APDHCC
| Q4 25 | $-350.5M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-640.0M | — | ||
| Q1 25 | $-1.6B | — | ||
| Q4 24 | $-1.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-345.2M | — | ||
| Q1 24 | $-867.7M | — |
自由现金流率APDHCC
| Q4 25 | -11.3% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -21.2% | — | ||
| Q1 25 | -53.6% | — | ||
| Q4 24 | -44.5% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -11.6% | — | ||
| Q1 24 | -29.6% | — |
资本支出强度APDHCC
| Q4 25 | 40.3% | — | ||
| Q3 25 | 47.9% | — | ||
| Q2 25 | 49.5% | — | ||
| Q1 25 | 64.9% | — | ||
| Q4 24 | 72.2% | — | ||
| Q3 24 | 65.1% | — | ||
| Q2 24 | 53.8% | — | ||
| Q1 24 | 57.0% | — |
现金转化率APDHCC
| Q4 25 | 1.33× | 3.31× | ||
| Q3 25 | — | 2.86× | ||
| Q2 25 | 1.20× | 6.70× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.31× | 47.68× | ||
| Q3 24 | — | 1.49× | ||
| Q2 24 | 1.81× | 2.08× | ||
| 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% |
HCC
| Mining Segment | $373.6M | 97% |
| Other | $10.4M | 3% |
