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空气化工产品公司（APD）与NL INDUSTRIES INC（NL）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NL INDUSTRIES INC的82.3倍（$3.1B vs $37.7M）。空气化工产品公司净利率更高（21.9% vs -82.2%，领先104.0%）。空气化工产品公司同比增速更快（5.8% vs -1.9%）。NL INDUSTRIES INC自由现金流更多（$-4.7M 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 -0.4%）
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。
NL工业公司前身为国民铅业公司，是一家铅冶炼企业，目前总部位于美国得克萨斯州休斯顿。该企业历史底蕴深厚，早在1896年5月26日道琼斯工业平均指数创立之初，NL工业就是最初纳入指数的12只成分股之一。
APD vs NL — 直观对比
营收规模更大
APD
是对方的82.3倍
$37.7M
营收增速更快
APD
高出7.7%
-1.9%
净利率更高
APD
高出104.0%
-82.2%
自由现金流更多
NL
多$345.8M
$-350.5M
两年增速更快
APD
近两年复合增速
-0.4%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $37.7M |
| 净利润 | $678.2M | $-31.0M |
| 毛利率 | 32.1% | 32.1% |
| 营业利润率 | 23.7% | 7.6% |
| 净利率 | 21.9% | -82.2% |
| 营收同比 | 5.8% | -1.9% |
| 净利润同比 | 9.8% | -287.2% |
| 每股收益（稀释后） | $3.04 | $-0.63 |
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APDNL
| Q4 25 | $3.1B | $37.7M | ||
| Q3 25 | $3.2B | $40.0M | ||
| Q2 25 | $3.0B | $40.4M | ||
| Q1 25 | $2.9B | $40.3M | ||
| Q4 24 | $2.9B | $38.4M | ||
| Q3 24 | $3.2B | $33.7M | ||
| Q2 24 | $3.0B | $35.9M | ||
| Q1 24 | $2.9B | $38.0M |
净利润APDNL
| Q4 25 | $678.2M | $-31.0M | ||
| Q3 25 | $4.9M | $-7.9M | ||
| Q2 25 | $713.8M | $355.0K | ||
| Q1 25 | $-1.7B | $667.0K | ||
| Q4 24 | $617.4M | $16.5M | ||
| Q3 24 | $1.9B | $36.0M | ||
| Q2 24 | $696.6M | $7.8M | ||
| Q1 24 | $572.4M | $6.8M |
毛利率APDNL
| Q4 25 | 32.1% | 32.1% | ||
| Q3 25 | 32.3% | 27.6% | ||
| Q2 25 | 32.5% | 31.9% | ||
| Q1 25 | 29.6% | 30.2% | ||
| Q4 24 | 31.2% | 28.8% | ||
| Q3 24 | 34.0% | 28.1% | ||
| Q2 24 | 32.8% | 31.1% | ||
| Q1 24 | 32.0% | 25.5% |
营业利润率APDNL
| Q4 25 | 23.7% | 7.6% | ||
| Q3 25 | 0.5% | 4.6% | ||
| Q2 25 | 26.2% | 6.9% | ||
| Q1 25 | -79.8% | 7.8% | ||
| Q4 24 | 22.0% | 87.7% | ||
| Q3 24 | 76.1% | 6.0% | ||
| Q2 24 | 24.7% | 2.2% | ||
| Q1 24 | 21.7% | 3.6% |
净利率APDNL
| Q4 25 | 21.9% | -82.2% | ||
| Q3 25 | 0.2% | -19.7% | ||
| Q2 25 | 23.6% | 0.9% | ||
| Q1 25 | -59.3% | 1.7% | ||
| Q4 24 | 21.1% | 43.1% | ||
| Q3 24 | 61.2% | 107.0% | ||
| Q2 24 | 23.3% | 21.8% | ||
| Q1 24 | 19.5% | 18.0% |
每股收益（稀释后）APDNL
| Q4 25 | $3.04 | $-0.63 | ||
| Q3 25 | $0.03 | $-0.16 | ||
| Q2 25 | $3.20 | $0.01 | ||
| Q1 25 | $-7.77 | $0.01 | ||
| Q4 24 | $2.77 | $0.34 | ||
| Q3 24 | $8.75 | $0.74 | ||
| Q2 24 | $3.13 | $0.16 | ||
| Q1 24 | $2.57 | $0.14 |
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 | $110.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $15.4B | $358.8M |
| 总资产 | $41.2B | $464.2M |
| 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APDNL
| Q4 25 | $1.0B | $110.6M | ||
| Q3 25 | $1.9B | $101.9M | ||
| Q2 25 | $2.3B | $111.5M | ||
| Q1 25 | $1.6B | $110.0M | ||
| Q4 24 | $2.0B | $163.2M | ||
| Q3 24 | $3.0B | $146.0M | ||
| Q2 24 | $2.4B | $179.4M | ||
| Q1 24 | $2.6B | $167.9M |
股东权益APDNL
| Q4 25 | $15.4B | $358.8M | ||
| Q3 25 | $15.0B | $375.4M | ||
| Q2 25 | $15.5B | $397.6M | ||
| Q1 25 | $14.7B | $397.6M | ||
| Q4 24 | $16.7B | $396.9M | ||
| Q3 24 | $17.0B | $386.0M | ||
| Q2 24 | $15.1B | $373.1M | ||
| Q1 24 | $14.9B | $368.1M |
总资产APDNL
| Q4 25 | $41.2B | $464.2M | ||
| Q3 25 | $41.1B | $500.2M | ||
| Q2 25 | $41.7B | $523.7M | ||
| Q1 25 | $38.9B | $520.0M | ||
| Q4 24 | $40.0B | $578.3M | ||
| Q3 24 | $39.6B | $585.6M | ||
| Q2 24 | $37.0B | $580.0M | ||
| Q1 24 | $35.9B | $568.8M |
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 | $-4.2M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $-4.7M |
| 自由现金流率自由现金流/营收 | -11.3% | -12.6% |
| 资本支出强度资本支出/营收 | 40.3% | 1.6% |
| 现金转化率经营现金流/净利润 | 1.33× | — |
| 过去12个月自由现金流最近4个季度 | — | $-40.1M |
8季度趋势，按日历期对齐
经营现金流APDNL
| Q4 25 | $900.7M | $-4.2M | ||
| Q3 25 | — | $7.9M | ||
| Q2 25 | $855.8M | $7.3M | ||
| Q1 25 | $328.1M | $-47.5M | ||
| Q4 24 | $811.7M | $9.0M | ||
| Q3 24 | — | $-5.7M | ||
| Q2 24 | $1.3B | $15.5M | ||
| Q1 24 | $801.7M | $6.7M |
自由现金流APDNL
| Q4 25 | $-350.5M | $-4.7M | ||
| Q3 25 | — | $7.0M | ||
| Q2 25 | $-640.0M | $5.9M | ||
| Q1 25 | $-1.6B | $-48.3M | ||
| Q4 24 | $-1.3B | $8.7M | ||
| Q3 24 | — | $-6.1M | ||
| Q2 24 | $-345.2M | $15.1M | ||
| Q1 24 | $-867.7M | $6.4M |
自由现金流率APDNL
| Q4 25 | -11.3% | -12.6% | ||
| Q3 25 | — | 17.4% | ||
| Q2 25 | -21.2% | 14.7% | ||
| Q1 25 | -53.6% | -119.9% | ||
| Q4 24 | -44.5% | 22.8% | ||
| Q3 24 | — | -18.3% | ||
| Q2 24 | -11.6% | 42.1% | ||
| Q1 24 | -29.6% | 17.0% |
资本支出强度APDNL
| Q4 25 | 40.3% | 1.6% | ||
| Q3 25 | 47.9% | 2.5% | ||
| Q2 25 | 49.5% | 3.3% | ||
| Q1 25 | 64.9% | 2.0% | ||
| Q4 24 | 72.2% | 0.6% | ||
| Q3 24 | 65.1% | 1.4% | ||
| Q2 24 | 53.8% | 1.2% | ||
| Q1 24 | 57.0% | 0.8% |
现金转化率APDNL
| Q4 25 | 1.33× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.20× | 20.53× | ||
| Q1 25 | — | -71.18× | ||
| Q4 24 | 1.31× | 0.54× | ||
| Q3 24 | — | -0.16× | ||
| Q2 24 | 1.81× | 1.98× | ||
| Q1 24 | 1.40× | 0.99× |
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% |
NL
| Security Products | $29.5M | 78% |
| Marine Components | $8.2M | 22% |
