vs
空气化工产品公司（APD）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是空气化工产品公司的1.4倍（$4.5B vs $3.2B），空气化工产品公司净利率更高（22.9% vs 21.3%，领先1.5%），皇家加勒比集团同比增速更快（11.3% vs 8.8%），过去两年皇家加勒比集团的营收复合增速更高（4.1% vs 3.1%）
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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
APD vs RCL — 直观对比
营收规模更大
RCL
是对方的1.4倍
$3.2B
营收增速更快
RCL
高出2.6%
8.8%
净利率更高
APD
高出1.5%
21.3%
两年增速更快
RCL
近两年复合增速
3.1%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $4.5B |
| 净利润 | $724.8M | $950.0M |
| 毛利率 | 31.1% | — |
| 营业利润率 | — | 26.1% |
| 净利率 | 22.9% | 21.3% |
| 营收同比 | 8.8% | 11.3% |
| 净利润同比 | 166.6% | 29.1% |
| 每股收益（稀释后） | $3.19 | $3.48 |
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APDRCL
| Q1 26 | $3.2B | $4.5B | ||
| Q4 25 | $3.1B | $4.3B | ||
| Q3 25 | $3.2B | $5.1B | ||
| Q2 25 | $3.0B | $4.5B | ||
| Q1 25 | $2.9B | $4.0B | ||
| Q4 24 | $2.9B | $3.8B | ||
| Q3 24 | $3.2B | $4.9B | ||
| Q2 24 | $3.0B | $4.1B |
净利润APDRCL
| Q1 26 | $724.8M | $950.0M | ||
| Q4 25 | $678.2M | $753.0M | ||
| Q3 25 | $4.9M | $1.6B | ||
| Q2 25 | $713.8M | $1.2B | ||
| Q1 25 | $-1.7B | $730.0M | ||
| Q4 24 | $617.4M | $552.0M | ||
| Q3 24 | $1.9B | $1.1B | ||
| Q2 24 | $696.6M | $854.0M |
毛利率APDRCL
| Q1 26 | 31.1% | — | ||
| Q4 25 | 32.1% | 47.4% | ||
| Q3 25 | 32.3% | 51.8% | ||
| Q2 25 | 32.5% | 49.7% | ||
| Q1 25 | 29.6% | 48.0% | ||
| Q4 24 | 31.2% | 45.4% | ||
| Q3 24 | 34.0% | 51.1% | ||
| Q2 24 | 32.8% | 47.6% |
营业利润率APDRCL
| Q1 26 | — | 26.1% | ||
| Q4 25 | 23.7% | 21.9% | ||
| Q3 25 | 0.5% | 33.1% | ||
| Q2 25 | 26.2% | 29.3% | ||
| Q1 25 | -79.8% | 23.6% | ||
| Q4 24 | 22.0% | 16.6% | ||
| Q3 24 | 76.1% | 33.4% | ||
| Q2 24 | 24.7% | 26.7% |
净利率APDRCL
| Q1 26 | 22.9% | 21.3% | ||
| Q4 25 | 21.9% | 17.7% | ||
| Q3 25 | 0.2% | 30.6% | ||
| Q2 25 | 23.6% | 26.7% | ||
| Q1 25 | -59.3% | 18.3% | ||
| Q4 24 | 21.1% | 14.7% | ||
| Q3 24 | 61.2% | 22.7% | ||
| Q2 24 | 23.3% | 20.8% |
每股收益（稀释后）APDRCL
| Q1 26 | $3.19 | $3.48 | ||
| Q4 25 | $3.04 | $2.76 | ||
| Q3 25 | $0.03 | $5.74 | ||
| Q2 25 | $3.20 | $4.41 | ||
| Q1 25 | $-7.77 | $2.70 | ||
| Q4 24 | $2.77 | $2.27 | ||
| Q3 24 | $8.75 | $4.21 | ||
| Q2 24 | $3.13 | $3.11 |
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 | — | $512.0M |
| 总债务越低越好 | $17.4M | $21.1B |
| 股东权益账面价值 | $18.1M | $10.0B |
| 总资产 | $41.6M | $42.0B |
| 负债/权益比越低杠杆越低 | 0.96× | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资APDRCL
| Q1 26 | — | $512.0M | ||
| Q4 25 | $1.0B | $825.0M | ||
| Q3 25 | $1.9B | $432.0M | ||
| Q2 25 | $2.3B | $735.0M | ||
| Q1 25 | $1.6B | $386.0M | ||
| Q4 24 | $2.0B | $388.0M | ||
| Q3 24 | $3.0B | $418.0M | ||
| Q2 24 | $2.4B | $391.0M |
总债务APDRCL
| Q1 26 | $17.4M | $21.1B | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
股东权益APDRCL
| Q1 26 | $18.1M | $10.0B | ||
| Q4 25 | $15.4B | $10.0B | ||
| Q3 25 | $15.0B | $10.1B | ||
| Q2 25 | $15.5B | $9.2B | ||
| Q1 25 | $14.7B | $8.0B | ||
| Q4 24 | $16.7B | $7.6B | ||
| Q3 24 | $17.0B | $7.0B | ||
| Q2 24 | $15.1B | $6.0B |
总资产APDRCL
| Q1 26 | $41.6M | $42.0B | ||
| Q4 25 | $41.2B | $41.6B | ||
| Q3 25 | $41.1B | $40.1B | ||
| Q2 25 | $41.7B | $38.5B | ||
| Q1 25 | $38.9B | $37.5B | ||
| Q4 24 | $40.0B | $37.1B | ||
| Q3 24 | $39.6B | $37.1B | ||
| Q2 24 | $37.0B | $37.0B |
负债/权益比APDRCL
| Q1 26 | 0.96× | 2.11× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | — | $1.8B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 56.4% | — |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 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APDRCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $900.7M | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $855.8M | $1.7B | ||
| Q1 25 | $328.1M | $1.6B | ||
| Q4 24 | $811.7M | $1.5B | ||
| Q3 24 | — | $897.0M | ||
| Q2 24 | $1.3B | $1.6B |
自由现金流APDRCL
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | $116.0M | ||
| Q3 25 | — | $-989.0M | ||
| Q2 25 | $-640.0M | $910.0M | ||
| Q1 25 | $-1.6B | $1.2B | ||
| Q4 24 | $-1.3B | $915.0M | ||
| Q3 24 | — | $563.0M | ||
| Q2 24 | $-345.2M | $-567.0M |
自由现金流率APDRCL
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | 2.7% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | -21.2% | 20.1% | ||
| Q1 25 | -53.6% | 30.0% | ||
| Q4 24 | -44.5% | 24.3% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | -11.6% | -13.8% |
资本支出强度APDRCL
| Q1 26 | 56.4% | — | ||
| Q4 25 | 40.3% | 35.4% | ||
| Q3 25 | 47.9% | 47.8% | ||
| Q2 25 | 49.5% | 18.4% | ||
| Q1 25 | 64.9% | 10.7% | ||
| Q4 24 | 72.2% | 14.7% | ||
| Q3 24 | 65.1% | 6.8% | ||
| Q2 24 | 53.8% | 52.1% |
现金转化率APDRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 1.33× | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | 1.20× | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | 1.31× | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 1.81× | 1.84× |
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
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
