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空气化工产品公司（APD）与SMITH MIDLAND CORP（SMID）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SMITH MIDLAND CORP的134.2倍（$3.1B vs $23.1M）。空气化工产品公司净利率更高（21.9% vs 9.2%，领先12.6%）。SMITH MIDLAND CORP同比增速更快（24.7% vs 5.8%）。过去两年SMITH MIDLAND CORP的营收复合增速更高（17.4% 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。
Smith Midland Corp是一家预制混凝土产品专业制造商，核心产品线包括公路安全护栏、隔音墙、建筑预制面板及雨水管理系统，主要服务北美市场，为各类基建、商用、住宅及工业建筑项目提供耐用可持续的建筑解决方案。
APD vs SMID — 直观对比
营收规模更大
APD
是对方的134.2倍
$23.1M
营收增速更快
SMID
高出18.9%
5.8%
净利率更高
APD
高出12.6%
9.2%
两年增速更快
SMID
近两年复合增速
2.9%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $23.1M |
| 净利润 | $678.2M | $2.1M |
| 毛利率 | 32.1% | 57.5% |
| 营业利润率 | 23.7% | 37.8% |
| 净利率 | 21.9% | 9.2% |
| 营收同比 | 5.8% | 24.7% |
| 净利润同比 | 9.8% | 52.5% |
| 每股收益（稀释后） | $3.04 | $0.41 |
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APDSMID
| Q4 25 | $3.1B | $23.1M | ||
| Q3 25 | $3.2B | $21.5M | ||
| Q2 25 | $3.0B | $26.2M | ||
| Q1 25 | $2.9B | $22.7M | ||
| Q4 24 | $2.9B | $18.5M | ||
| Q3 24 | $3.2B | $23.6M | ||
| Q2 24 | $3.0B | $19.6M | ||
| Q1 24 | $2.9B | $16.8M |
净利润APDSMID
| Q4 25 | $678.2M | $2.1M | ||
| Q3 25 | $4.9M | $2.9M | ||
| Q2 25 | $713.8M | $4.2M | ||
| Q1 25 | $-1.7B | $3.3M | ||
| Q4 24 | $617.4M | $1.4M | ||
| Q3 24 | $1.9B | $3.1M | ||
| Q2 24 | $696.6M | $2.0M | ||
| Q1 24 | $572.4M | $1.1M |
毛利率APDSMID
| Q4 25 | 32.1% | 57.5% | ||
| Q3 25 | 32.3% | 26.8% | ||
| Q2 25 | 32.5% | 0.0% | ||
| Q1 25 | 29.6% | 30.7% | ||
| Q4 24 | 31.2% | 51.4% | ||
| Q3 24 | 34.0% | 27.9% | ||
| Q2 24 | 32.8% | 0.0% | ||
| Q1 24 | 32.0% | 23.3% |
营业利润率APDSMID
| Q4 25 | 23.7% | 37.8% | ||
| Q3 25 | 0.5% | 18.0% | ||
| Q2 25 | 26.2% | 0.0% | ||
| Q1 25 | -79.8% | 19.3% | ||
| Q4 24 | 22.0% | 24.5% | ||
| Q3 24 | 76.1% | 16.3% | ||
| Q2 24 | 24.7% | 0.0% | ||
| Q1 24 | 21.7% | 9.0% |
净利率APDSMID
| Q4 25 | 21.9% | 9.2% | ||
| Q3 25 | 0.2% | 13.4% | ||
| Q2 25 | 23.6% | 15.9% | ||
| Q1 25 | -59.3% | 14.7% | ||
| Q4 24 | 21.1% | 7.5% | ||
| Q3 24 | 61.2% | 13.4% | ||
| Q2 24 | 23.3% | 10.1% | ||
| Q1 24 | 19.5% | 6.8% |
每股收益（稀释后）APDSMID
| Q4 25 | $3.04 | $0.41 | ||
| Q3 25 | $0.03 | $0.54 | ||
| Q2 25 | $3.20 | $0.79 | ||
| Q1 25 | $-7.77 | $0.62 | ||
| Q4 24 | $2.77 | $0.28 | ||
| Q3 24 | $8.75 | $0.59 | ||
| Q2 24 | $3.13 | $0.37 | ||
| Q1 24 | $2.57 | $0.21 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $15.4B | $54.3M |
| 总资产 | $41.2B | $87.7M |
| 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APDSMID
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.6B | — |
股东权益APDSMID
| Q4 25 | $15.4B | $54.3M | ||
| Q3 25 | $15.0B | $52.1M | ||
| Q2 25 | $15.5B | $49.2M | ||
| Q1 25 | $14.7B | $45.1M | ||
| Q4 24 | $16.7B | $41.7M | ||
| Q3 24 | $17.0B | $40.3M | ||
| Q2 24 | $15.1B | $37.2M | ||
| Q1 24 | $14.9B | $35.3M |
总资产APDSMID
| Q4 25 | $41.2B | $87.7M | ||
| Q3 25 | $41.1B | $85.4M | ||
| Q2 25 | $41.7B | $81.2K | ||
| Q1 25 | $38.9B | $74.7M | ||
| Q4 24 | $40.0B | $68.0M | ||
| Q3 24 | $39.6B | $66.6M | ||
| Q2 24 | $37.0B | $64.0M | ||
| Q1 24 | $35.9B | $64.9M |
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 | — |
| 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APDSMID
| Q4 25 | $900.7M | — | ||
| Q3 25 | — | $11.7M | ||
| Q2 25 | $855.8M | — | ||
| Q1 25 | $328.1M | $2.2M | ||
| Q4 24 | $811.7M | $-645.0K | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | $1.3B | $2.7M | ||
| Q1 24 | $801.7M | $-777.0K |
自由现金流APDSMID
| Q4 25 | $-350.5M | — | ||
| Q3 25 | — | $6.3M | ||
| Q2 25 | $-640.0M | — | ||
| Q1 25 | $-1.6B | $1.6M | ||
| Q4 24 | $-1.3B | $-1.3M | ||
| Q3 24 | — | $1.8M | ||
| Q2 24 | $-345.2M | $998.0K | ||
| Q1 24 | $-867.7M | $-2.6M |
自由现金流率APDSMID
| Q4 25 | -11.3% | — | ||
| Q3 25 | — | 29.5% | ||
| Q2 25 | -21.2% | — | ||
| Q1 25 | -53.6% | 7.1% | ||
| Q4 24 | -44.5% | -7.0% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | -11.6% | 5.1% | ||
| Q1 24 | -29.6% | -15.3% |
资本支出强度APDSMID
| Q4 25 | 40.3% | — | ||
| Q3 25 | 47.9% | 25.1% | ||
| Q2 25 | 49.5% | — | ||
| Q1 25 | 64.9% | 2.6% | ||
| Q4 24 | 72.2% | 3.6% | ||
| Q3 24 | 65.1% | 8.6% | ||
| Q2 24 | 53.8% | 8.7% | ||
| Q1 24 | 57.0% | 10.7% |
现金转化率APDSMID
| Q4 25 | 1.33× | — | ||
| Q3 25 | — | 4.07× | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | 0.67× | ||
| Q4 24 | 1.31× | -0.46× | ||
| Q3 24 | — | 1.23× | ||
| Q2 24 | 1.81× | 1.37× | ||
| Q1 24 | 1.40× | -0.68× |
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% |
SMID
| Product Sales | $13.8M | 60% |
| Service Revenue | $9.3M | 40% |
