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空气化工产品公司（APD）与Wabtec（WAB）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Wabtec的1.1倍（$3.1B vs $3.0B），空气化工产品公司净利率更高（21.9% vs 12.3%，领先9.6%），Wabtec同比增速更快（13.0% vs 5.8%），过去两年Wabtec的营收复合增速更高（5.6% 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。
西屋空气制动技术公司（通称Wabtec）是美国知名轨道交通设备企业，1999年由西屋空气制动公司（WABCO）与动力设备厂商MotivePower合并组建，总部设于宾夕法尼亚州匹兹堡，在全球轨交制动系统、牵引动力设备等领域拥有领先的技术实力与市场份额。
APD vs WAB — 直观对比
营收规模更大
APD
是对方的1.1倍
$3.0B
营收增速更快
WAB
高出7.2%
5.8%
净利率更高
APD
高出9.6%
12.3%
两年增速更快
WAB
近两年复合增速
2.9%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $3.0B |
| 净利润 | $678.2M | $363.0M |
| 毛利率 | 32.1% | 36.0% |
| 营业利润率 | 23.7% | 17.5% |
| 净利率 | 21.9% | 12.3% |
| 营收同比 | 5.8% | 13.0% |
| 净利润同比 | 9.8% | 11.0% |
| 每股收益（稀释后） | $3.04 | $2.12 |
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APDWAB
| Q1 26 | — | $3.0B | ||
| Q4 25 | $3.1B | $3.0B | ||
| Q3 25 | $3.2B | $2.9B | ||
| Q2 25 | $3.0B | $2.7B | ||
| Q1 25 | $2.9B | $2.6B | ||
| Q4 24 | $2.9B | $2.6B | ||
| Q3 24 | $3.2B | $2.7B | ||
| Q2 24 | $3.0B | $2.6B |
净利润APDWAB
| Q1 26 | — | $363.0M | ||
| Q4 25 | $678.2M | $202.0M | ||
| Q3 25 | $4.9M | $310.0M | ||
| Q2 25 | $713.8M | $336.0M | ||
| Q1 25 | $-1.7B | $322.0M | ||
| Q4 24 | $617.4M | $212.0M | ||
| Q3 24 | $1.9B | $283.0M | ||
| Q2 24 | $696.6M | $289.0M |
毛利率APDWAB
| Q1 26 | — | 36.0% | ||
| Q4 25 | 32.1% | 32.6% | ||
| Q3 25 | 32.3% | 34.7% | ||
| Q2 25 | 32.5% | 34.7% | ||
| Q1 25 | 29.6% | 34.5% | ||
| Q4 24 | 31.2% | 30.9% | ||
| Q3 24 | 34.0% | 33.0% | ||
| Q2 24 | 32.8% | 33.1% |
营业利润率APDWAB
| Q1 26 | — | 17.5% | ||
| Q4 25 | 23.7% | 12.0% | ||
| Q3 25 | 0.5% | 17.0% | ||
| Q2 25 | 26.2% | 17.4% | ||
| Q1 25 | -79.8% | 18.2% | ||
| Q4 24 | 22.0% | 12.9% | ||
| Q3 24 | 76.1% | 16.3% | ||
| Q2 24 | 24.7% | 16.3% |
净利率APDWAB
| Q1 26 | — | 12.3% | ||
| Q4 25 | 21.9% | 6.8% | ||
| Q3 25 | 0.2% | 10.7% | ||
| Q2 25 | 23.6% | 12.4% | ||
| Q1 25 | -59.3% | 12.3% | ||
| Q4 24 | 21.1% | 8.2% | ||
| Q3 24 | 61.2% | 10.6% | ||
| Q2 24 | 23.3% | 10.9% |
每股收益（稀释后）APDWAB
| Q1 26 | — | $2.12 | ||
| Q4 25 | $3.04 | $1.18 | ||
| Q3 25 | $0.03 | $1.81 | ||
| Q2 25 | $3.20 | $1.96 | ||
| Q1 25 | $-7.77 | $1.88 | ||
| Q4 24 | $2.77 | $1.24 | ||
| Q3 24 | $8.75 | $1.63 | ||
| Q2 24 | $3.13 | $1.64 |
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 | — | $4.7B |
| 股东权益账面价值 | $15.4B | $11.1B |
| 总资产 | $41.2B | $23.2B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资APDWAB
| Q1 26 | — | — | ||
| 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 | — |
总债务APDWAB
| Q1 26 | — | $4.7B | ||
| Q4 25 | — | $5.5B | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.0B |
股东权益APDWAB
| Q1 26 | — | $11.1B | ||
| Q4 25 | $15.4B | $11.1B | ||
| Q3 25 | $15.0B | $11.0B | ||
| Q2 25 | $15.5B | $10.8B | ||
| Q1 25 | $14.7B | $10.4B | ||
| Q4 24 | $16.7B | $10.1B | ||
| Q3 24 | $17.0B | $10.3B | ||
| Q2 24 | $15.1B | $10.5B |
总资产APDWAB
| Q1 26 | — | $23.2B | ||
| Q4 25 | $41.2B | $22.1B | ||
| Q3 25 | $41.1B | $21.5B | ||
| Q2 25 | $41.7B | $20.4B | ||
| Q1 25 | $38.9B | $19.1B | ||
| Q4 24 | $40.0B | $18.7B | ||
| Q3 24 | $39.6B | $18.6B | ||
| Q2 24 | $37.0B | $18.9B |
负债/权益比APDWAB
| Q1 26 | — | 0.42× | ||
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.38× |
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 | $199.0M |
| 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× | 0.55× |
| 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APDWAB
| Q1 26 | — | $199.0M | ||
| Q4 25 | $900.7M | $992.0M | ||
| Q3 25 | — | $367.0M | ||
| Q2 25 | $855.8M | $209.0M | ||
| Q1 25 | $328.1M | $191.0M | ||
| Q4 24 | $811.7M | $723.0M | ||
| Q3 24 | — | $542.0M | ||
| Q2 24 | $1.3B | $235.0M |
自由现金流APDWAB
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | $870.0M | ||
| Q3 25 | — | $312.0M | ||
| Q2 25 | $-640.0M | $170.0M | ||
| Q1 25 | $-1.6B | $147.0M | ||
| Q4 24 | $-1.3B | $639.0M | ||
| Q3 24 | — | $496.0M | ||
| Q2 24 | $-345.2M | $189.0M |
自由现金流率APDWAB
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | 29.3% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | -21.2% | 6.3% | ||
| Q1 25 | -53.6% | 5.6% | ||
| Q4 24 | -44.5% | 24.7% | ||
| Q3 24 | — | 18.6% | ||
| Q2 24 | -11.6% | 7.1% |
资本支出强度APDWAB
| Q1 26 | — | — | ||
| Q4 25 | 40.3% | 4.1% | ||
| Q3 25 | 47.9% | 1.9% | ||
| Q2 25 | 49.5% | 1.4% | ||
| Q1 25 | 64.9% | 1.7% | ||
| Q4 24 | 72.2% | 3.3% | ||
| Q3 24 | 65.1% | 1.7% | ||
| Q2 24 | 53.8% | 1.7% |
现金转化率APDWAB
| Q1 26 | — | 0.55× | ||
| Q4 25 | 1.33× | 4.91× | ||
| Q3 25 | — | 1.18× | ||
| Q2 25 | 1.20× | 0.62× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | 1.31× | 3.41× | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | 1.81× | 0.81× |
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% |
WAB
暂无分部数据
