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空气化工产品公司（APD）与欧文斯科宁（OC）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欧文斯科宁的1.4倍（$3.1B vs $2.1B）。空气化工产品公司净利率更高（21.9% vs -13.9%，领先35.8%）。空气化工产品公司同比增速更快（5.8% vs -24.6%）。欧文斯科宁自由现金流更多（$333.0M 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 -3.5%）
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。
欧文斯科宁是美国知名建材及复合材料企业，1935年由康宁玻璃厂与欧文斯-伊利诺伊公司合资组建。主营保温材料、屋面材料、玻璃纤维复合材料及相关产品，是全球最大的玻璃纤维复合材料生产商，全球员工约1.9万人，自1955年《财富》500强榜单创立以来连年上榜。
APD vs OC — 直观对比
营收规模更大
APD
是对方的1.4倍
$2.1B
营收增速更快
APD
高出30.4%
-24.6%
净利率更高
APD
高出35.8%
-13.9%
自由现金流更多
OC
多$683.5M
$-350.5M
两年增速更快
APD
近两年复合增速
-3.5%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $2.1B |
| 净利润 | $678.2M | $-298.0M |
| 毛利率 | 32.1% | 23.2% |
| 营业利润率 | 23.7% | -10.5% |
| 净利率 | 21.9% | -13.9% |
| 营收同比 | 5.8% | -24.6% |
| 净利润同比 | 9.8% | -15.5% |
| 每股收益（稀释后） | $3.04 | $-3.47 |
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APDOC
| Q4 25 | $3.1B | $2.1B | ||
| Q3 25 | $3.2B | $2.7B | ||
| Q2 25 | $3.0B | $2.7B | ||
| Q1 25 | $2.9B | $2.5B | ||
| Q4 24 | $2.9B | $2.8B | ||
| Q3 24 | $3.2B | $3.0B | ||
| Q2 24 | $3.0B | $2.8B | ||
| Q1 24 | $2.9B | $2.3B |
净利润APDOC
| Q4 25 | $678.2M | $-298.0M | ||
| Q3 25 | $4.9M | $-494.0M | ||
| Q2 25 | $713.8M | $363.0M | ||
| Q1 25 | $-1.7B | $-93.0M | ||
| Q4 24 | $617.4M | $-258.0M | ||
| Q3 24 | $1.9B | $321.0M | ||
| Q2 24 | $696.6M | $285.0M | ||
| Q1 24 | $572.4M | $299.0M |
毛利率APDOC
| Q4 25 | 32.1% | 23.2% | ||
| Q3 25 | 32.3% | 28.2% | ||
| Q2 25 | 32.5% | 31.2% | ||
| Q1 25 | 29.6% | 28.7% | ||
| Q4 24 | 31.2% | 28.1% | ||
| Q3 24 | 34.0% | 29.8% | ||
| Q2 24 | 32.8% | 31.1% | ||
| Q1 24 | 32.0% | 29.6% |
营业利润率APDOC
| Q4 25 | 23.7% | -10.5% | ||
| Q3 25 | 0.5% | -12.2% | ||
| Q2 25 | 26.2% | 18.4% | ||
| Q1 25 | -79.8% | 16.1% | ||
| Q4 24 | 22.0% | -8.5% | ||
| Q3 24 | 76.1% | 16.7% | ||
| Q2 24 | 24.7% | 16.4% | ||
| Q1 24 | 21.7% | 17.5% |
净利率APDOC
| Q4 25 | 21.9% | -13.9% | ||
| Q3 25 | 0.2% | -18.4% | ||
| Q2 25 | 23.6% | 13.2% | ||
| Q1 25 | -59.3% | -3.7% | ||
| Q4 24 | 21.1% | -9.1% | ||
| Q3 24 | 61.2% | 10.5% | ||
| Q2 24 | 23.3% | 10.2% | ||
| Q1 24 | 19.5% | 13.0% |
每股收益（稀释后）APDOC
| Q4 25 | $3.04 | $-3.47 | ||
| Q3 25 | $0.03 | $-5.92 | ||
| Q2 25 | $3.20 | $4.25 | ||
| Q1 25 | $-7.77 | $-1.08 | ||
| Q4 24 | $2.77 | $-2.92 | ||
| Q3 24 | $8.75 | $3.65 | ||
| Q2 24 | $3.13 | $3.24 | ||
| Q1 24 | $2.57 | $3.40 |
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 | $345.0M |
| 总债务越低越好 | — | $4.7B |
| 股东权益账面价值 | $15.4B | $3.9B |
| 总资产 | $41.2B | $13.0B |
| 负债/权益比越低杠杆越低 | — | 1.22× |
8季度趋势，按日历期对齐
现金及短期投资APDOC
| Q4 25 | $1.0B | $345.0M | ||
| Q3 25 | $1.9B | $286.0M | ||
| Q2 25 | $2.3B | $230.0M | ||
| Q1 25 | $1.6B | $400.0M | ||
| Q4 24 | $2.0B | $361.0M | ||
| Q3 24 | $3.0B | $499.0M | ||
| Q2 24 | $2.4B | $254.0M | ||
| Q1 24 | $2.6B | $1.3B |
总债务APDOC
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $5.0B | ||
| Q1 24 | — | $2.6B |
股东权益APDOC
| Q4 25 | $15.4B | $3.9B | ||
| Q3 25 | $15.0B | $4.4B | ||
| Q2 25 | $15.5B | $5.2B | ||
| Q1 25 | $14.7B | $4.9B | ||
| Q4 24 | $16.7B | $5.1B | ||
| Q3 24 | $17.0B | $5.6B | ||
| Q2 24 | $15.1B | $5.5B | ||
| Q1 24 | $14.9B | $5.2B |
总资产APDOC
| Q4 25 | $41.2B | $13.0B | ||
| Q3 25 | $41.1B | $13.5B | ||
| Q2 25 | $41.7B | $14.5B | ||
| Q1 25 | $38.9B | $14.3B | ||
| Q4 24 | $40.0B | $14.1B | ||
| Q3 24 | $39.6B | $15.1B | ||
| Q2 24 | $37.0B | $15.0B | ||
| Q1 24 | $35.9B | $11.3B |
负债/权益比APDOC
| Q4 25 | — | 1.22× | ||
| Q3 25 | — | 1.06× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | 1.01× | ||
| Q3 24 | — | 0.89× | ||
| Q2 24 | — | 0.92× | ||
| Q1 24 | — | 0.51× |
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 | $590.0M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $333.0M |
| 自由现金流率自由现金流/营收 | -11.3% | 15.5% |
| 资本支出强度资本支出/营收 | 40.3% | 12.0% |
| 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 | — | $962.0M |
8季度趋势，按日历期对齐
经营现金流APDOC
| Q4 25 | $900.7M | $590.0M | ||
| Q3 25 | — | $918.0M | ||
| Q2 25 | $855.8M | $327.0M | ||
| Q1 25 | $328.1M | $-49.0M | ||
| Q4 24 | $811.7M | $676.0M | ||
| Q3 24 | — | $699.0M | ||
| Q2 24 | $1.3B | $493.0M | ||
| Q1 24 | $801.7M | $24.0M |
自由现金流APDOC
| Q4 25 | $-350.5M | $333.0M | ||
| Q3 25 | — | $752.0M | ||
| Q2 25 | $-640.0M | $129.0M | ||
| Q1 25 | $-1.6B | $-252.0M | ||
| Q4 24 | $-1.3B | $479.0M | ||
| Q3 24 | — | $558.0M | ||
| Q2 24 | $-345.2M | $336.0M | ||
| Q1 24 | $-867.7M | $-128.0M |
自由现金流率APDOC
| Q4 25 | -11.3% | 15.5% | ||
| Q3 25 | — | 28.0% | ||
| Q2 25 | -21.2% | 4.7% | ||
| Q1 25 | -53.6% | -10.0% | ||
| Q4 24 | -44.5% | 16.9% | ||
| Q3 24 | — | 18.3% | ||
| Q2 24 | -11.6% | 12.0% | ||
| Q1 24 | -29.6% | -5.6% |
资本支出强度APDOC
| Q4 25 | 40.3% | 12.0% | ||
| Q3 25 | 47.9% | 6.2% | ||
| Q2 25 | 49.5% | 7.2% | ||
| Q1 25 | 64.9% | 8.0% | ||
| Q4 24 | 72.2% | 6.9% | ||
| Q3 24 | 65.1% | 4.6% | ||
| Q2 24 | 53.8% | 5.6% | ||
| Q1 24 | 57.0% | 6.6% |
现金转化率APDOC
| Q4 25 | 1.33× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.20× | 0.90× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.31× | — | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | 1.81× | 1.73× | ||
| Q1 24 | 1.40× | 0.08× |
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% |
OC
| Insulation | $724.0M | 34% |
| Residential | $625.0M | 29% |
| Doors | $427.0M | 20% |
| Discontinued Operations Disposed Of By Sale | $299.0M | 14% |
| Commercial And Industrial Sector | $101.0M | 5% |
