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空气化工产品公司（APD）与国际香精香料（IFF）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国际香精香料的1.2倍（$3.1B vs $2.6B），空气化工产品公司净利率更高（21.9% vs 0.2%，领先21.7%），空气化工产品公司同比增速更快（5.8% vs -6.6%），国际香精香料自由现金流更多（$130.0M vs $-350.5M），过去两年空气化工产品公司的营收复合增速更高（2.9% vs -5.5%）
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。
国际香精香料（IFF）是美国知名企业，业务覆盖风味、质感、香氛、营养、酶制剂、菌种、大豆蛋白、益生菌等多品类产品研发，产品行销全球。公司总部位于纽约，在44个国家设有创意、销售及生产基地，是标普500指数成分股企业。
APD vs IFF — 直观对比
营收规模更大
APD
是对方的1.2倍
$2.6B
营收增速更快
APD
高出12.4%
-6.6%
净利率更高
APD
高出21.7%
0.2%
自由现金流更多
IFF
多$480.5M
$-350.5M
两年增速更快
APD
近两年复合增速
-5.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $2.6B |
| 净利润 | $678.2M | $5.0M |
| 毛利率 | 32.1% | 34.4% |
| 营业利润率 | 23.7% | 3.7% |
| 净利率 | 21.9% | 0.2% |
| 营收同比 | 5.8% | -6.6% |
| 净利润同比 | 9.8% | 110.9% |
| 每股收益（稀释后） | $3.04 | $0.03 |
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APDIFF
| Q4 25 | $3.1B | $2.6B | ||
| Q3 25 | $3.2B | $2.7B | ||
| Q2 25 | $3.0B | $2.8B | ||
| Q1 25 | $2.9B | $2.8B | ||
| Q4 24 | $2.9B | $2.8B | ||
| Q3 24 | $3.2B | $2.9B | ||
| Q2 24 | $3.0B | $2.9B | ||
| Q1 24 | $2.9B | $2.9B |
净利润APDIFF
| Q4 25 | $678.2M | $5.0M | ||
| Q3 25 | $4.9M | $40.0M | ||
| Q2 25 | $713.8M | $612.0M | ||
| Q1 25 | $-1.7B | $-1.0B | ||
| Q4 24 | $617.4M | $-46.0M | ||
| Q3 24 | $1.9B | $59.0M | ||
| Q2 24 | $696.6M | $170.0M | ||
| Q1 24 | $572.4M | $60.0M |
毛利率APDIFF
| Q4 25 | 32.1% | 34.4% | ||
| Q3 25 | 32.3% | 36.5% | ||
| Q2 25 | 32.5% | 37.3% | ||
| Q1 25 | 29.6% | 36.4% | ||
| Q4 24 | 31.2% | 35.4% | ||
| Q3 24 | 34.0% | 36.0% | ||
| Q2 24 | 32.8% | 37.0% | ||
| Q1 24 | 32.0% | 35.3% |
营业利润率APDIFF
| Q4 25 | 23.7% | 3.7% | ||
| Q3 25 | 0.5% | 8.4% | ||
| Q2 25 | 26.2% | 7.2% | ||
| Q1 25 | -79.8% | -31.8% | ||
| Q4 24 | 22.0% | 4.6% | ||
| Q3 24 | 76.1% | 8.5% | ||
| Q2 24 | 24.7% | 6.6% | ||
| Q1 24 | 21.7% | 6.9% |
净利率APDIFF
| Q4 25 | 21.9% | 0.2% | ||
| Q3 25 | 0.2% | 1.5% | ||
| Q2 25 | 23.6% | 22.1% | ||
| Q1 25 | -59.3% | -35.8% | ||
| Q4 24 | 21.1% | -1.7% | ||
| Q3 24 | 61.2% | 2.0% | ||
| Q2 24 | 23.3% | 5.9% | ||
| Q1 24 | 19.5% | 2.1% |
每股收益（稀释后）APDIFF
| Q4 25 | $3.04 | $0.03 | ||
| Q3 25 | $0.03 | $0.16 | ||
| Q2 25 | $3.20 | $2.38 | ||
| Q1 25 | $-7.77 | $-3.98 | ||
| Q4 24 | $2.77 | $-0.17 | ||
| Q3 24 | $8.75 | $0.23 | ||
| Q2 24 | $3.13 | $0.66 | ||
| Q1 24 | $2.57 | $0.23 |
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 | $590.0M |
| 总债务越低越好 | — | $5.6B |
| 股东权益账面价值 | $15.4B | $14.2B |
| 总资产 | $41.2B | $25.5B |
| 负债/权益比越低杠杆越低 | — | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资APDIFF
| Q4 25 | $1.0B | $590.0M | ||
| Q3 25 | $1.9B | $621.0M | ||
| Q2 25 | $2.3B | $816.0M | ||
| Q1 25 | $1.6B | $613.0M | ||
| Q4 24 | $2.0B | $469.0M | ||
| Q3 24 | $3.0B | $567.0M | ||
| Q2 24 | $2.4B | $671.0M | ||
| Q1 24 | $2.6B | $732.0M |
总债务APDIFF
| Q4 25 | — | $5.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APDIFF
| Q4 25 | $15.4B | $14.2B | ||
| Q3 25 | $15.0B | $14.2B | ||
| Q2 25 | $15.5B | $14.4B | ||
| Q1 25 | $14.7B | $13.2B | ||
| Q4 24 | $16.7B | $13.9B | ||
| Q3 24 | $17.0B | $14.8B | ||
| Q2 24 | $15.1B | $14.3B | ||
| Q1 24 | $14.9B | $14.3B |
总资产APDIFF
| Q4 25 | $41.2B | $25.5B | ||
| Q3 25 | $41.1B | $25.8B | ||
| Q2 25 | $41.7B | $26.1B | ||
| Q1 25 | $38.9B | $28.3B | ||
| Q4 24 | $40.0B | $28.7B | ||
| Q3 24 | $39.6B | $29.9B | ||
| Q2 24 | $37.0B | $29.5B | ||
| Q1 24 | $35.9B | $30.6B |
负债/权益比APDIFF
| Q4 25 | — | 0.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.64× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $318.0M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $130.0M |
| 自由现金流率自由现金流/营收 | -11.3% | 5.0% |
| 资本支出强度资本支出/营收 | 40.3% | 7.3% |
| 现金转化率经营现金流/净利润 | 1.33× | 63.60× |
| 过去12个月自由现金流最近4个季度 | — | $256.0M |
8季度趋势，按日历期对齐
经营现金流APDIFF
| Q4 25 | $900.7M | $318.0M | ||
| Q3 25 | — | $164.0M | ||
| Q2 25 | $855.8M | $241.0M | ||
| Q1 25 | $328.1M | $127.0M | ||
| Q4 24 | $811.7M | $368.0M | ||
| Q3 24 | — | $366.0M | ||
| Q2 24 | $1.3B | $237.0M | ||
| Q1 24 | $801.7M | $99.0M |
自由现金流APDIFF
| Q4 25 | $-350.5M | $130.0M | ||
| Q3 25 | — | $32.0M | ||
| Q2 25 | $-640.0M | $146.0M | ||
| Q1 25 | $-1.6B | $-52.0M | ||
| Q4 24 | $-1.3B | $208.0M | ||
| Q3 24 | — | $263.0M | ||
| Q2 24 | $-345.2M | $155.0M | ||
| Q1 24 | $-867.7M | $-19.0M |
自由现金流率APDIFF
| Q4 25 | -11.3% | 5.0% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | -21.2% | 5.3% | ||
| Q1 25 | -53.6% | -1.8% | ||
| Q4 24 | -44.5% | 7.5% | ||
| Q3 24 | — | 9.0% | ||
| Q2 24 | -11.6% | 5.4% | ||
| Q1 24 | -29.6% | -0.7% |
资本支出强度APDIFF
| Q4 25 | 40.3% | 7.3% | ||
| Q3 25 | 47.9% | 4.9% | ||
| Q2 25 | 49.5% | 3.4% | ||
| Q1 25 | 64.9% | 6.3% | ||
| Q4 24 | 72.2% | 5.8% | ||
| Q3 24 | 65.1% | 3.5% | ||
| Q2 24 | 53.8% | 2.8% | ||
| Q1 24 | 57.0% | 4.1% |
现金转化率APDIFF
| Q4 25 | 1.33× | 63.60× | ||
| Q3 25 | — | 4.10× | ||
| Q2 25 | 1.20× | 0.39× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.31× | — | ||
| Q3 24 | — | 6.20× | ||
| Q2 24 | 1.81× | 1.39× | ||
| Q1 24 | 1.40× | 1.65× |
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% |
IFF
| Food Ingredients | $802.0M | 31% |
| Scent | $610.0M | 24% |
| Other | $589.0M | 23% |
| Taste | $588.0M | 23% |
