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空气化工产品公司（APD）与TREX CO INC（TREX）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TREX CO INC的19.3倍（$3.1B vs $161.1M）。空气化工产品公司净利率更高（21.9% vs 1.4%，领先20.4%）。空气化工产品公司同比增速更快（5.8% vs -3.9%）。TREX CO INC自由现金流更多（$22.1M 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 -34.3%）
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。
Trex公司是木塑复合替代板材、住宅护栏及其他户外用品的制造商，产品采用回收材料生产，总部位于美国弗吉尼亚州温彻斯特，是户外家居建材领域的知名企业，主打环保耐用的户外搭建解决方案。
APD vs TREX — 直观对比
营收规模更大
APD
是对方的19.3倍
$161.1M
营收增速更快
APD
高出9.7%
-3.9%
净利率更高
APD
高出20.4%
1.4%
自由现金流更多
TREX
多$372.6M
$-350.5M
两年增速更快
APD
近两年复合增速
-34.3%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $161.1M |
| 净利润 | $678.2M | $2.3M |
| 毛利率 | 32.1% | 30.2% |
| 营业利润率 | 23.7% | 2.2% |
| 净利率 | 21.9% | 1.4% |
| 营收同比 | 5.8% | -3.9% |
| 净利润同比 | 9.8% | -76.4% |
| 每股收益（稀释后） | $3.04 | $0.03 |
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APDTREX
| Q4 25 | $3.1B | $161.1M | ||
| Q3 25 | $3.2B | $285.3M | ||
| Q2 25 | $3.0B | $387.8M | ||
| Q1 25 | $2.9B | $340.0M | ||
| Q4 24 | $2.9B | $167.6M | ||
| Q3 24 | $3.2B | $233.7M | ||
| Q2 24 | $3.0B | $376.5M | ||
| Q1 24 | $2.9B | $373.6M |
净利润APDTREX
| Q4 25 | $678.2M | $2.3M | ||
| Q3 25 | $4.9M | $51.8M | ||
| Q2 25 | $713.8M | $75.9M | ||
| Q1 25 | $-1.7B | $60.4M | ||
| Q4 24 | $617.4M | $9.8M | ||
| Q3 24 | $1.9B | $40.6M | ||
| Q2 24 | $696.6M | $87.0M | ||
| Q1 24 | $572.4M | $89.1M |
毛利率APDTREX
| Q4 25 | 32.1% | 30.2% | ||
| Q3 25 | 32.3% | 40.5% | ||
| Q2 25 | 32.5% | 40.8% | ||
| Q1 25 | 29.6% | 40.5% | ||
| Q4 24 | 31.2% | 32.7% | ||
| Q3 24 | 34.0% | 39.9% | ||
| Q2 24 | 32.8% | 44.7% | ||
| Q1 24 | 32.0% | 45.4% |
营业利润率APDTREX
| Q4 25 | 23.7% | 2.2% | ||
| Q3 25 | 0.5% | 24.7% | ||
| Q2 25 | 26.2% | 26.4% | ||
| Q1 25 | -79.8% | 24.0% | ||
| Q4 24 | 22.0% | 9.2% | ||
| Q3 24 | 76.1% | 23.2% | ||
| Q2 24 | 24.7% | 31.1% | ||
| Q1 24 | 21.7% | 31.9% |
净利率APDTREX
| Q4 25 | 21.9% | 1.4% | ||
| Q3 25 | 0.2% | 18.1% | ||
| Q2 25 | 23.6% | 19.6% | ||
| Q1 25 | -59.3% | 17.8% | ||
| Q4 24 | 21.1% | 5.8% | ||
| Q3 24 | 61.2% | 17.4% | ||
| Q2 24 | 23.3% | 23.1% | ||
| Q1 24 | 19.5% | 23.8% |
每股收益（稀释后）APDTREX
| Q4 25 | $3.04 | $0.03 | ||
| Q3 25 | $0.03 | $0.48 | ||
| Q2 25 | $3.20 | $0.71 | ||
| Q1 25 | $-7.77 | $0.56 | ||
| Q4 24 | $2.77 | $0.10 | ||
| Q3 24 | $8.75 | $0.37 | ||
| Q2 24 | $3.13 | $0.80 | ||
| Q1 24 | $2.57 | $0.82 |
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 | $3.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $15.4B | $1.0B |
| 总资产 | $41.2B | $1.5B |
| 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APDTREX
| Q4 25 | $1.0B | $3.8M | ||
| Q3 25 | $1.9B | $11.4M | ||
| Q2 25 | $2.3B | $5.5M | ||
| Q1 25 | $1.6B | $5.0M | ||
| Q4 24 | $2.0B | $1.3M | ||
| Q3 24 | $3.0B | $12.8M | ||
| Q2 24 | $2.4B | $1.2M | ||
| Q1 24 | $2.6B | $3.1M |
股东权益APDTREX
| Q4 25 | $15.4B | $1.0B | ||
| Q3 25 | $15.0B | $1.0B | ||
| Q2 25 | $15.5B | $989.3M | ||
| Q1 25 | $14.7B | $910.1M | ||
| Q4 24 | $16.7B | $850.1M | ||
| Q3 24 | $17.0B | $887.9M | ||
| Q2 24 | $15.1B | $894.9M | ||
| Q1 24 | $14.9B | $804.1M |
总资产APDTREX
| Q4 25 | $41.2B | $1.5B | ||
| Q3 25 | $41.1B | $1.5B | ||
| Q2 25 | $41.7B | $1.5B | ||
| Q1 25 | $38.9B | $1.6B | ||
| Q4 24 | $40.0B | $1.3B | ||
| Q3 24 | $39.6B | $1.3B | ||
| Q2 24 | $37.0B | $1.3B | ||
| Q1 24 | $35.9B | $1.3B |
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 | $65.5M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $22.1M |
| 自由现金流率自由现金流/营收 | -11.3% | 13.7% |
| 资本支出强度资本支出/营收 | 40.3% | 26.9% |
| 现金转化率经营现金流/净利润 | 1.33× | 28.45× |
| 过去12个月自由现金流最近4个季度 | — | $134.5M |
8季度趋势，按日历期对齐
经营现金流APDTREX
| Q4 25 | $900.7M | $65.5M | ||
| Q3 25 | — | $196.9M | ||
| Q2 25 | $855.8M | $249.8M | ||
| Q1 25 | $328.1M | $-154.0M | ||
| Q4 24 | $811.7M | $-8.5M | ||
| Q3 24 | — | $132.8M | ||
| Q2 24 | $1.3B | $193.7M | ||
| Q1 24 | $801.7M | $-174.0M |
自由现金流APDTREX
| Q4 25 | $-350.5M | $22.1M | ||
| Q3 25 | — | $142.9M | ||
| Q2 25 | $-640.0M | $203.0M | ||
| Q1 25 | $-1.6B | $-233.5M | ||
| Q4 24 | $-1.3B | $-89.3M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | $-345.2M | $158.2M | ||
| Q1 24 | $-867.7M | $-211.8M |
自由现金流率APDTREX
| Q4 25 | -11.3% | 13.7% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | -21.2% | 52.3% | ||
| Q1 25 | -53.6% | -68.7% | ||
| Q4 24 | -44.5% | -53.3% | ||
| Q3 24 | — | 23.3% | ||
| Q2 24 | -11.6% | 42.0% | ||
| Q1 24 | -29.6% | -56.7% |
资本支出强度APDTREX
| Q4 25 | 40.3% | 26.9% | ||
| Q3 25 | 47.9% | 18.9% | ||
| Q2 25 | 49.5% | 12.1% | ||
| Q1 25 | 64.9% | 23.4% | ||
| Q4 24 | 72.2% | 48.2% | ||
| Q3 24 | 65.1% | 33.5% | ||
| Q2 24 | 53.8% | 9.4% | ||
| Q1 24 | 57.0% | 10.1% |
现金转化率APDTREX
| Q4 25 | 1.33× | 28.45× | ||
| Q3 25 | — | 3.80× | ||
| Q2 25 | 1.20× | 3.29× | ||
| Q1 25 | — | -2.55× | ||
| Q4 24 | 1.31× | -0.87× | ||
| Q3 24 | — | 3.27× | ||
| Q2 24 | 1.81× | 2.23× | ||
| Q1 24 | 1.40× | -1.95× |
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% |
TREX
暂无分部数据
