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空气化工产品公司（APD）与北极星（PII）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北极星的1.9倍（$3.1B vs $1.7B），空气化工产品公司净利率更高（21.9% vs -2.8%，领先24.7%），北极星同比增速更快（8.0% vs 5.8%），北极星自由现金流更多（$-342.5M 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 -8.0%）
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。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
APD vs PII — 直观对比
营收规模更大
APD
是对方的1.9倍
$1.7B
营收增速更快
PII
高出2.2%
5.8%
净利率更高
APD
高出24.7%
-2.8%
自由现金流更多
PII
多$8.0M
$-350.5M
两年增速更快
APD
近两年复合增速
-8.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $1.7B |
| 净利润 | $678.2M | $-47.2M |
| 毛利率 | 32.1% | 20.2% |
| 营业利润率 | 23.7% | — |
| 净利率 | 21.9% | -2.8% |
| 营收同比 | 5.8% | 8.0% |
| 净利润同比 | 9.8% | 29.2% |
| 每股收益（稀释后） | $3.04 | $-0.83 |
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APDPII
| Q1 26 | — | $1.7B | ||
| Q4 25 | $3.1B | $1.9B | ||
| Q3 25 | $3.2B | $1.8B | ||
| Q2 25 | $3.0B | $1.9B | ||
| Q1 25 | $2.9B | $1.5B | ||
| Q4 24 | $2.9B | $1.8B | ||
| Q3 24 | $3.2B | $1.7B | ||
| Q2 24 | $3.0B | $2.0B |
净利润APDPII
| Q1 26 | — | $-47.2M | ||
| Q4 25 | $678.2M | $-303.6M | ||
| Q3 25 | $4.9M | $-15.8M | ||
| Q2 25 | $713.8M | $-79.3M | ||
| Q1 25 | $-1.7B | $-66.8M | ||
| Q4 24 | $617.4M | $10.6M | ||
| Q3 24 | $1.9B | $27.7M | ||
| Q2 24 | $696.6M | $68.7M |
毛利率APDPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | 32.1% | 20.0% | ||
| Q3 25 | 32.3% | 20.7% | ||
| Q2 25 | 32.5% | 19.4% | ||
| Q1 25 | 29.6% | 16.0% | ||
| Q4 24 | 31.2% | 20.4% | ||
| Q3 24 | 34.0% | 20.6% | ||
| Q2 24 | 32.8% | 21.6% |
营业利润率APDPII
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | -16.7% | ||
| Q3 25 | 0.5% | 1.1% | ||
| Q2 25 | 26.2% | -0.7% | ||
| Q1 25 | -79.8% | -2.4% | ||
| Q4 24 | 22.0% | 3.7% | ||
| Q3 24 | 76.1% | 3.8% | ||
| Q2 24 | 24.7% | 6.1% |
净利率APDPII
| Q1 26 | — | -2.8% | ||
| Q4 25 | 21.9% | -15.8% | ||
| Q3 25 | 0.2% | -0.9% | ||
| Q2 25 | 23.6% | -4.3% | ||
| Q1 25 | -59.3% | -4.3% | ||
| Q4 24 | 21.1% | 0.6% | ||
| Q3 24 | 61.2% | 1.6% | ||
| Q2 24 | 23.3% | 3.5% |
每股收益（稀释后）APDPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $3.04 | $-5.34 | ||
| Q3 25 | $0.03 | $-0.28 | ||
| Q2 25 | $3.20 | $-1.39 | ||
| Q1 25 | $-7.77 | $-1.17 | ||
| Q4 24 | $2.77 | $0.18 | ||
| Q3 24 | $8.75 | $0.49 | ||
| Q2 24 | $3.13 | $1.21 |
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 | $282.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $15.4B | $750.4M |
| 总资产 | $41.2B | $5.2B |
| 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APDPII
| Q1 26 | — | $282.0M | ||
| Q4 25 | $1.0B | $138.0M | ||
| Q3 25 | $1.9B | $335.5M | ||
| Q2 25 | $2.3B | $324.3M | ||
| Q1 25 | $1.6B | $291.7M | ||
| Q4 24 | $2.0B | $287.8M | ||
| Q3 24 | $3.0B | $291.3M | ||
| Q2 24 | $2.4B | $322.7M |
总债务APDPII
| Q1 26 | — | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.1B |
股东权益APDPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | $15.4B | $828.4M | ||
| Q3 25 | $15.0B | $1.1B | ||
| Q2 25 | $15.5B | $1.2B | ||
| Q1 25 | $14.7B | $1.2B | ||
| Q4 24 | $16.7B | $1.3B | ||
| Q3 24 | $17.0B | $1.3B | ||
| Q2 24 | $15.1B | $1.3B |
总资产APDPII
| Q1 26 | — | $5.2B | ||
| Q4 25 | $41.2B | $4.9B | ||
| Q3 25 | $41.1B | $5.3B | ||
| Q2 25 | $41.7B | $5.4B | ||
| Q1 25 | $38.9B | $5.5B | ||
| Q4 24 | $40.0B | $5.5B | ||
| Q3 24 | $39.6B | $5.6B | ||
| Q2 24 | $37.0B | $5.7B |
负债/权益比APDPII
| Q1 26 | — | — | ||
| Q4 25 | — | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $-342.5M |
| 自由现金流率自由现金流/营收 | -11.3% | -20.6% |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | — | $168.0M |
8季度趋势，按日历期对齐
经营现金流APDPII
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | $178.7M | ||
| Q3 25 | — | $158.8M | ||
| Q2 25 | $855.8M | $320.3M | ||
| Q1 25 | $328.1M | $83.2M | ||
| Q4 24 | $811.7M | $206.3M | ||
| Q3 24 | — | $21.0M | ||
| Q2 24 | $1.3B | $146.3M |
自由现金流APDPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $-350.5M | $114.0M | ||
| Q3 25 | — | $116.7M | ||
| Q2 25 | $-640.0M | $279.8M | ||
| Q1 25 | $-1.6B | $47.6M | ||
| Q4 24 | $-1.3B | $137.3M | ||
| Q3 24 | — | $-32.4M | ||
| Q2 24 | $-345.2M | $79.1M |
自由现金流率APDPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | -11.3% | 5.9% | ||
| Q3 25 | — | 6.3% | ||
| Q2 25 | -21.2% | 15.1% | ||
| Q1 25 | -53.6% | 3.1% | ||
| Q4 24 | -44.5% | 7.8% | ||
| Q3 24 | — | -1.9% | ||
| Q2 24 | -11.6% | 4.0% |
资本支出强度APDPII
| Q1 26 | — | — | ||
| Q4 25 | 40.3% | 3.4% | ||
| Q3 25 | 47.9% | 2.3% | ||
| Q2 25 | 49.5% | 2.2% | ||
| Q1 25 | 64.9% | 2.3% | ||
| Q4 24 | 72.2% | 3.9% | ||
| Q3 24 | 65.1% | 3.1% | ||
| Q2 24 | 53.8% | 3.4% |
现金转化率APDPII
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.31× | 19.46× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | 1.81× | 2.13× |
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% |
PII
暂无分部数据
