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空气化工产品公司（APD）与PPL Corporation（PPL）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PPL Corporation的1.4倍（$3.2B vs $2.3B），空气化工产品公司净利率更高（22.9% vs 11.3%，领先11.5%），空气化工产品公司同比增速更快（8.8% vs 7.2%），过去两年空气化工产品公司的营收复合增速更高（3.1% vs 1.0%）
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。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
APD vs PPL — 直观对比
营收规模更大
APD
是对方的1.4倍
$2.3B
营收增速更快
APD
高出1.6%
7.2%
净利率更高
APD
高出11.5%
11.3%
两年增速更快
APD
近两年复合增速
1.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $2.3B |
| 净利润 | $724.8M | $266.0M |
| 毛利率 | 31.1% | — |
| 营业利润率 | — | 20.3% |
| 净利率 | 22.9% | 11.3% |
| 营收同比 | 8.8% | 7.2% |
| 净利润同比 | 166.6% | 50.3% |
| 每股收益（稀释后） | $3.19 | $0.35 |
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APDPPL
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $2.3B | ||
| Q3 25 | $3.2B | $2.2B | ||
| Q2 25 | $3.0B | $2.0B | ||
| Q1 25 | $2.9B | $2.5B | ||
| Q4 24 | $2.9B | $2.2B | ||
| Q3 24 | $3.2B | $2.1B | ||
| Q2 24 | $3.0B | $1.9B |
净利润APDPPL
| Q1 26 | $724.8M | — | ||
| Q4 25 | $678.2M | $266.0M | ||
| Q3 25 | $4.9M | $318.0M | ||
| Q2 25 | $713.8M | $183.0M | ||
| Q1 25 | $-1.7B | $414.0M | ||
| Q4 24 | $617.4M | $177.0M | ||
| Q3 24 | $1.9B | $214.0M | ||
| Q2 24 | $696.6M | $190.0M |
毛利率APDPPL
| Q1 26 | 31.1% | — | ||
| 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% | — |
营业利润率APDPPL
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | 20.3% | ||
| Q3 25 | 0.5% | 25.4% | ||
| Q2 25 | 26.2% | 19.9% | ||
| Q1 25 | -79.8% | 26.6% | ||
| Q4 24 | 22.0% | 17.2% | ||
| Q3 24 | 76.1% | 20.6% | ||
| Q2 24 | 24.7% | 20.8% |
净利率APDPPL
| Q1 26 | 22.9% | — | ||
| Q4 25 | 21.9% | 11.3% | ||
| Q3 25 | 0.2% | 14.2% | ||
| Q2 25 | 23.6% | 9.0% | ||
| Q1 25 | -59.3% | 16.3% | ||
| Q4 24 | 21.1% | 8.1% | ||
| Q3 24 | 61.2% | 10.3% | ||
| Q2 24 | 23.3% | 10.1% |
每股收益（稀释后）APDPPL
| Q1 26 | $3.19 | — | ||
| Q4 25 | $3.04 | $0.35 | ||
| Q3 25 | $0.03 | $0.43 | ||
| Q2 25 | $3.20 | $0.25 | ||
| Q1 25 | $-7.77 | $0.56 | ||
| Q4 24 | $2.77 | $0.23 | ||
| Q3 24 | $8.75 | $0.29 | ||
| Q2 24 | $3.13 | $0.26 |
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 | — | $1.1B |
| 总债务越低越好 | $17.4M | $18.9B |
| 股东权益账面价值 | $18.1M | $14.9B |
| 总资产 | $41.6M | $45.2B |
| 负债/权益比越低杠杆越低 | 0.96× | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资APDPPL
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.9B | $1.1B | ||
| Q2 25 | $2.3B | $294.0M | ||
| Q1 25 | $1.6B | $312.0M | ||
| Q4 24 | $2.0B | $306.0M | ||
| Q3 24 | $3.0B | $542.0M | ||
| Q2 24 | $2.4B | $282.0M |
总债务APDPPL
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | $18.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $16.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APDPPL
| Q1 26 | $18.1M | — | ||
| Q4 25 | $15.4B | $14.9B | ||
| Q3 25 | $15.0B | $14.4B | ||
| Q2 25 | $15.5B | $14.3B | ||
| Q1 25 | $14.7B | $14.3B | ||
| Q4 24 | $16.7B | $14.1B | ||
| Q3 24 | $17.0B | $14.1B | ||
| Q2 24 | $15.1B | $14.1B |
总资产APDPPL
| Q1 26 | $41.6M | — | ||
| Q4 25 | $41.2B | $45.2B | ||
| Q3 25 | $41.1B | $43.9B | ||
| Q2 25 | $41.7B | $42.4B | ||
| Q1 25 | $38.9B | $41.8B | ||
| Q4 24 | $40.0B | $41.1B | ||
| Q3 24 | $39.6B | $40.5B | ||
| Q2 24 | $37.0B | $39.8B |
负债/权益比APDPPL
| Q1 26 | 0.96× | — | ||
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.17× | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $548.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-614.0M |
| 自由现金流率自由现金流/营收 | — | -26.1% |
| 资本支出强度资本支出/营收 | 56.4% | 49.5% |
| 现金转化率经营现金流/净利润 | — | 2.06× |
| 过去12个月自由现金流最近4个季度 | — | $-1.4B |
8季度趋势，按日历期对齐
经营现金流APDPPL
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | $548.0M | ||
| Q3 25 | — | $966.0M | ||
| Q2 25 | $855.8M | $602.0M | ||
| Q1 25 | $328.1M | $513.0M | ||
| Q4 24 | $811.7M | $511.0M | ||
| Q3 24 | — | $781.0M | ||
| Q2 24 | $1.3B | $766.0M |
自由现金流APDPPL
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | $-614.0M | ||
| Q3 25 | — | $-179.0M | ||
| Q2 25 | $-640.0M | $-328.0M | ||
| Q1 25 | $-1.6B | $-280.0M | ||
| Q4 24 | $-1.3B | $-349.0M | ||
| Q3 24 | — | $102.0M | ||
| Q2 24 | $-345.2M | $96.0M |
自由现金流率APDPPL
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | -26.1% | ||
| Q3 25 | — | -8.0% | ||
| Q2 25 | -21.2% | -16.1% | ||
| Q1 25 | -53.6% | -11.0% | ||
| Q4 24 | -44.5% | -15.9% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | -11.6% | 5.1% |
资本支出强度APDPPL
| Q1 26 | 56.4% | — | ||
| Q4 25 | 40.3% | 49.5% | ||
| Q3 25 | 47.9% | 51.2% | ||
| Q2 25 | 49.5% | 45.6% | ||
| Q1 25 | 64.9% | 31.2% | ||
| Q4 24 | 72.2% | 39.3% | ||
| Q3 24 | 65.1% | 32.7% | ||
| Q2 24 | 53.8% | 35.8% |
现金转化率APDPPL
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | 2.06× | ||
| Q3 25 | — | 3.04× | ||
| Q2 25 | 1.20× | 3.29× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | 1.31× | 2.89× | ||
| Q3 24 | — | 3.65× | ||
| Q2 24 | 1.81× | 4.03× |
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
暂无分部数据
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
