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空气化工产品公司（APD）与RAYONIER ADVANCED MATERIALS INC.（RYAM）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RAYONIER ADVANCED MATERIALS INC.的7.4倍（$3.1B vs $417.5M）。空气化工产品公司净利率更高（21.9% vs -5.0%，领先26.9%）。空气化工产品公司同比增速更快（5.8% vs -1.2%）。过去两年RAYONIER ADVANCED MATERIALS INC.的营收复合增速更高（3.8% vs 2.9%）
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。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
APD vs RYAM — 直观对比
营收规模更大
APD
是对方的7.4倍
$417.5M
营收增速更快
APD
高出7.0%
-1.2%
净利率更高
APD
高出26.9%
-5.0%
两年增速更快
RYAM
近两年复合增速
2.9%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $417.5M |
| 净利润 | $678.2M | $-21.1M |
| 毛利率 | 32.1% | 8.9% |
| 营业利润率 | 23.7% | 2.6% |
| 净利率 | 21.9% | -5.0% |
| 营收同比 | 5.8% | -1.2% |
| 净利润同比 | 9.8% | -31.9% |
| 每股收益（稀释后） | $3.04 | $-0.33 |
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APDRYAM
| Q4 25 | $3.1B | $417.5M | ||
| Q3 25 | $3.2B | $352.8M | ||
| Q2 25 | $3.0B | $340.0M | ||
| Q1 25 | $2.9B | $356.0M | ||
| Q4 24 | $2.9B | $422.5M | ||
| Q3 24 | $3.2B | $401.1M | ||
| Q2 24 | $3.0B | $419.0M | ||
| Q1 24 | $2.9B | $387.7M |
净利润APDRYAM
| Q4 25 | $678.2M | $-21.1M | ||
| Q3 25 | $4.9M | $-4.5M | ||
| Q2 25 | $713.8M | $-363.2M | ||
| Q1 25 | $-1.7B | $-32.0M | ||
| Q4 24 | $617.4M | $-16.0M | ||
| Q3 24 | $1.9B | $-32.6M | ||
| Q2 24 | $696.6M | $11.4M | ||
| Q1 24 | $572.4M | $-1.6M |
毛利率APDRYAM
| Q4 25 | 32.1% | 8.9% | ||
| Q3 25 | 32.3% | 9.7% | ||
| Q2 25 | 32.5% | 7.0% | ||
| Q1 25 | 29.6% | 6.8% | ||
| Q4 24 | 31.2% | 8.7% | ||
| Q3 24 | 34.0% | 10.9% | ||
| Q2 24 | 32.8% | 11.5% | ||
| Q1 24 | 32.0% | 9.5% |
营业利润率APDRYAM
| Q4 25 | 23.7% | 2.6% | ||
| Q3 25 | 0.5% | 2.8% | ||
| Q2 25 | 26.2% | -0.4% | ||
| Q1 25 | -79.8% | -4.2% | ||
| Q4 24 | 22.0% | 2.6% | ||
| Q3 24 | 76.1% | -4.2% | ||
| Q2 24 | 24.7% | 6.7% | ||
| Q1 24 | 21.7% | 4.4% |
净利率APDRYAM
| Q4 25 | 21.9% | -5.0% | ||
| Q3 25 | 0.2% | -1.3% | ||
| Q2 25 | 23.6% | -106.8% | ||
| Q1 25 | -59.3% | -9.0% | ||
| Q4 24 | 21.1% | -3.8% | ||
| Q3 24 | 61.2% | -8.1% | ||
| Q2 24 | 23.3% | 2.7% | ||
| Q1 24 | 19.5% | -0.4% |
每股收益（稀释后）APDRYAM
| Q4 25 | $3.04 | $-0.33 | ||
| Q3 25 | $0.03 | $-0.07 | ||
| Q2 25 | $3.20 | $-5.44 | ||
| Q1 25 | $-7.77 | $-0.49 | ||
| Q4 24 | $2.77 | $-0.25 | ||
| Q3 24 | $8.75 | $-0.49 | ||
| Q2 24 | $3.13 | $0.17 | ||
| Q1 24 | $2.57 | $-0.02 |
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 | $75.4M |
| 总债务越低越好 | — | $758.1M |
| 股东权益账面价值 | $15.4B | $316.6M |
| 总资产 | $41.2B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资APDRYAM
| Q4 25 | $1.0B | $75.4M | ||
| Q3 25 | $1.9B | $77.0M | ||
| Q2 25 | $2.3B | $70.7M | ||
| Q1 25 | $1.6B | $129.9M | ||
| Q4 24 | $2.0B | $125.2M | ||
| Q3 24 | $3.0B | $136.1M | ||
| Q2 24 | $2.4B | $114.1M | ||
| Q1 24 | $2.6B | $54.6M |
总债务APDRYAM
| Q4 25 | — | $758.1M | ||
| Q3 25 | — | $763.5M | ||
| Q2 25 | — | $720.4M | ||
| Q1 25 | — | $707.0M | ||
| Q4 24 | — | $706.4M | ||
| Q3 24 | — | $747.7M | ||
| Q2 24 | — | $752.8M | ||
| Q1 24 | — | $755.6M |
股东权益APDRYAM
| Q4 25 | $15.4B | $316.6M | ||
| Q3 25 | $15.0B | $338.2M | ||
| Q2 25 | $15.5B | $342.3M | ||
| Q1 25 | $14.7B | $688.1M | ||
| Q4 24 | $16.7B | $713.9M | ||
| Q3 24 | $17.0B | $732.7M | ||
| Q2 24 | $15.1B | $755.1M | ||
| Q1 24 | $14.9B | $741.8M |
总资产APDRYAM
| Q4 25 | $41.2B | $1.8B | ||
| Q3 25 | $41.1B | $1.8B | ||
| Q2 25 | $41.7B | $1.8B | ||
| Q1 25 | $38.9B | $2.1B | ||
| Q4 24 | $40.0B | $2.1B | ||
| Q3 24 | $39.6B | $2.2B | ||
| Q2 24 | $37.0B | $2.2B | ||
| Q1 24 | $35.9B | $2.1B |
负债/权益比APDRYAM
| Q4 25 | — | 2.39× | ||
| Q3 25 | — | 2.26× | ||
| Q2 25 | — | 2.10× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | 0.99× | ||
| Q3 24 | — | 1.02× | ||
| Q2 24 | — | 1.00× | ||
| Q1 24 | — | 1.02× |
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 | $32.3M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | — |
| 自由现金流率自由现金流/营收 | -11.3% | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流APDRYAM
| Q4 25 | $900.7M | $32.3M | ||
| Q3 25 | — | $-17.8M | ||
| Q2 25 | $855.8M | $-30.2M | ||
| Q1 25 | $328.1M | $39.6M | ||
| Q4 24 | $811.7M | $54.9M | ||
| Q3 24 | — | $49.8M | ||
| Q2 24 | $1.3B | $87.6M | ||
| Q1 24 | $801.7M | $11.3M |
自由现金流APDRYAM
| Q4 25 | $-350.5M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-640.0M | — | ||
| Q1 25 | $-1.6B | — | ||
| Q4 24 | $-1.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-345.2M | — | ||
| Q1 24 | $-867.7M | — |
自由现金流率APDRYAM
| Q4 25 | -11.3% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -21.2% | — | ||
| Q1 25 | -53.6% | — | ||
| Q4 24 | -44.5% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -11.6% | — | ||
| Q1 24 | -29.6% | — |
资本支出强度APDRYAM
| Q4 25 | 40.3% | — | ||
| Q3 25 | 47.9% | — | ||
| Q2 25 | 49.5% | — | ||
| Q1 25 | 64.9% | — | ||
| Q4 24 | 72.2% | — | ||
| Q3 24 | 65.1% | — | ||
| Q2 24 | 53.8% | — | ||
| Q1 24 | 57.0% | — |
现金转化率APDRYAM
| Q4 25 | 1.33× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.31× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.81× | 7.69× | ||
| Q1 24 | 1.40× | — |
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% |
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
