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空气化工产品公司（APD）与M&T Bank（MTB）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M&T Bank的1.3倍（$3.1B vs $2.5B），M&T Bank净利率更高（30.7% vs 21.9%，领先8.8%），空气化工产品公司同比增速更快（5.8% vs 3.8%），过去两年M&T Bank的营收复合增速更高（4.6% 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。
M&T银行是总部位于美国纽约州布法罗的银行控股企业，业务覆盖美国东部从缅因州到弗吉尼亚州的12个州及华盛顿特区，运营超过950家线下网点。其控股主体1998年5月前名为第一帝国州公司，之后更为现名。
APD vs MTB — 直观对比
营收规模更大
APD
是对方的1.3倍
$2.5B
营收增速更快
APD
高出2.1%
3.8%
净利率更高
MTB
高出8.8%
21.9%
两年增速更快
MTB
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 | $759.0M |
| 毛利率 | 32.1% | — |
| 营业利润率 | 23.7% | 39.2% |
| 净利率 | 21.9% | 30.7% |
| 营收同比 | 5.8% | 3.8% |
| 净利润同比 | 9.8% | 11.5% |
| 每股收益（稀释后） | $3.04 | $4.62 |
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APDMTB
| Q4 25 | $3.1B | $2.5B | ||
| Q3 25 | $3.2B | $2.5B | ||
| Q2 25 | $3.0B | $2.4B | ||
| Q1 25 | $2.9B | $2.3B | ||
| Q4 24 | $2.9B | $2.4B | ||
| Q3 24 | $3.2B | $2.3B | ||
| Q2 24 | $3.0B | $2.3B | ||
| Q1 24 | $2.9B | $2.3B |
净利润APDMTB
| Q4 25 | $678.2M | $759.0M | ||
| Q3 25 | $4.9M | $792.0M | ||
| Q2 25 | $713.8M | $716.0M | ||
| Q1 25 | $-1.7B | $584.0M | ||
| Q4 24 | $617.4M | $681.0M | ||
| Q3 24 | $1.9B | $721.0M | ||
| Q2 24 | $696.6M | $655.0M | ||
| Q1 24 | $572.4M | $531.0M |
毛利率APDMTB
| Q4 25 | 32.1% | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 32.5% | — | ||
| Q1 25 | 29.6% | — | ||
| Q4 24 | 31.2% | — | ||
| Q3 24 | 34.0% | — | ||
| Q2 24 | 32.8% | — | ||
| Q1 24 | 32.0% | — |
营业利润率APDMTB
| Q4 25 | 23.7% | 39.2% | ||
| Q3 25 | 0.5% | 40.8% | ||
| Q2 25 | 26.2% | 39.0% | ||
| Q1 25 | -79.8% | 33.0% | ||
| Q4 24 | 22.0% | 37.0% | ||
| Q3 24 | 76.1% | 39.0% | ||
| Q2 24 | 24.7% | 37.1% | ||
| Q1 24 | 21.7% | 29.4% |
净利率APDMTB
| Q4 25 | 21.9% | 30.7% | ||
| Q3 25 | 0.2% | 31.5% | ||
| Q2 25 | 23.6% | 29.9% | ||
| Q1 25 | -59.3% | 25.3% | ||
| Q4 24 | 21.1% | 28.6% | ||
| Q3 24 | 61.2% | 30.9% | ||
| Q2 24 | 23.3% | 28.5% | ||
| Q1 24 | 19.5% | 23.5% |
每股收益（稀释后）APDMTB
| Q4 25 | $3.04 | $4.62 | ||
| Q3 25 | $0.03 | $4.82 | ||
| Q2 25 | $3.20 | $4.24 | ||
| Q1 25 | $-7.77 | $3.32 | ||
| Q4 24 | $2.77 | $3.87 | ||
| Q3 24 | $8.75 | $4.02 | ||
| Q2 24 | $3.13 | $3.73 | ||
| Q1 24 | $2.57 | $3.02 |
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 | — |
| 总债务越低越好 | — | $10.9B |
| 股东权益账面价值 | $15.4B | $29.2B |
| 总资产 | $41.2B | $213.5B |
| 负债/权益比越低杠杆越低 | — | 0.37× |
8季度趋势，按日历期对齐
现金及短期投资APDMTB
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.6B | — |
总债务APDMTB
| Q4 25 | — | $10.9B | ||
| Q3 25 | — | $12.9B | ||
| Q2 25 | — | $12.4B | ||
| Q1 25 | — | $10.5B | ||
| Q4 24 | — | $12.6B | ||
| Q3 24 | — | $11.6B | ||
| Q2 24 | — | $11.3B | ||
| Q1 24 | — | $11.4B |
股东权益APDMTB
| Q4 25 | $15.4B | $29.2B | ||
| Q3 25 | $15.0B | $28.7B | ||
| Q2 25 | $15.5B | $28.5B | ||
| Q1 25 | $14.7B | $29.0B | ||
| Q4 24 | $16.7B | $29.0B | ||
| Q3 24 | $17.0B | $28.9B | ||
| Q2 24 | $15.1B | $28.4B | ||
| Q1 24 | $14.9B | $27.2B |
总资产APDMTB
| Q4 25 | $41.2B | $213.5B | ||
| Q3 25 | $41.1B | $211.3B | ||
| Q2 25 | $41.7B | $211.6B | ||
| Q1 25 | $38.9B | $210.3B | ||
| Q4 24 | $40.0B | $208.1B | ||
| Q3 24 | $39.6B | $211.8B | ||
| Q2 24 | $37.0B | $208.9B | ||
| Q1 24 | $35.9B | $215.1B |
负债/权益比APDMTB
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.36× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.40× | ||
| Q1 24 | — | 0.42× |
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 | $3.0B |
| 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× | 3.96× |
| 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APDMTB
| Q4 25 | $900.7M | $3.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | $855.8M | $844.0M | ||
| Q1 25 | $328.1M | $635.0M | ||
| Q4 24 | $811.7M | $3.6B | ||
| Q3 24 | — | $-28.0M | ||
| Q2 24 | $1.3B | $1.4B | ||
| Q1 24 | $801.7M | $608.0M |
自由现金流APDMTB
| 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APDMTB
| 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APDMTB
| 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APDMTB
| Q4 25 | 1.33× | 3.96× | ||
| Q3 25 | — | 1.26× | ||
| Q2 25 | 1.20× | 1.18× | ||
| Q1 25 | — | 1.09× | ||
| Q4 24 | 1.31× | 5.30× | ||
| Q3 24 | — | -0.04× | ||
| Q2 24 | 1.81× | 2.07× | ||
| Q1 24 | 1.40× | 1.15× |
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% |
MTB
暂无分部数据
