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空气化工产品公司（APD）与WD 40 CO（WDFC）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WD 40 CO的20.1倍（$3.1B vs $154.4M）。空气化工产品公司净利率更高（21.9% vs 11.3%，领先10.6%）。空气化工产品公司同比增速更快（5.8% vs 0.6%）。WD 40 CO自由现金流更多（$9.1M vs $-350.5M）。过去两年WD 40 CO的营收复合增速更高（5.4% 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。
WD-40公司是全球知名的消费及工业维护用品生产商，核心产品为同名多功能防锈润滑剂，同时布局清洁剂、除油剂、特殊润滑产品等品类，业务覆盖全球170余个国家和地区，服务零售、工业、汽车后市场等多个领域。
APD vs WDFC — 直观对比
营收规模更大
APD
是对方的20.1倍
$154.4M
营收增速更快
APD
高出5.2%
0.6%
净利率更高
APD
高出10.6%
11.3%
自由现金流更多
WDFC
多$359.6M
$-350.5M
两年增速更快
WDFC
近两年复合增速
2.9%
损益表 — Q1 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $154.4M |
| 净利润 | $678.2M | $17.5M |
| 毛利率 | 32.1% | 56.2% |
| 营业利润率 | 23.7% | 15.1% |
| 净利率 | 21.9% | 11.3% |
| 营收同比 | 5.8% | 0.6% |
| 净利润同比 | 9.8% | -7.8% |
| 每股收益（稀释后） | $3.04 | $1.28 |
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APDWDFC
| Q4 25 | $3.1B | $154.4M | ||
| Q3 25 | $3.2B | $163.5M | ||
| Q2 25 | $3.0B | $156.9M | ||
| Q1 25 | $2.9B | $146.1M | ||
| Q4 24 | $2.9B | $153.5M | ||
| Q3 24 | $3.2B | $156.0M | ||
| Q2 24 | $3.0B | $155.0M | ||
| Q1 24 | $2.9B | $139.1M |
净利润APDWDFC
| Q4 25 | $678.2M | $17.5M | ||
| Q3 25 | $4.9M | $21.2M | ||
| Q2 25 | $713.8M | $21.0M | ||
| Q1 25 | $-1.7B | $29.9M | ||
| Q4 24 | $617.4M | $18.9M | ||
| Q3 24 | $1.9B | $16.8M | ||
| Q2 24 | $696.6M | $19.8M | ||
| Q1 24 | $572.4M | $15.5M |
毛利率APDWDFC
| Q4 25 | 32.1% | 56.2% | ||
| Q3 25 | 32.3% | 54.7% | ||
| Q2 25 | 32.5% | 56.2% | ||
| Q1 25 | 29.6% | 54.6% | ||
| Q4 24 | 31.2% | 54.8% | ||
| Q3 24 | 34.0% | 54.1% | ||
| Q2 24 | 32.8% | 53.1% | ||
| Q1 24 | 32.0% | 52.4% |
营业利润率APDWDFC
| Q4 25 | 23.7% | 15.1% | ||
| Q3 25 | 0.5% | 17.1% | ||
| Q2 25 | 26.2% | 17.4% | ||
| Q1 25 | -79.8% | 15.9% | ||
| Q4 24 | 22.0% | 16.4% | ||
| Q3 24 | 76.1% | 15.4% | ||
| Q2 24 | 24.7% | 17.5% | ||
| Q1 24 | 21.7% | 15.1% |
净利率APDWDFC
| Q4 25 | 21.9% | 11.3% | ||
| Q3 25 | 0.2% | 13.0% | ||
| Q2 25 | 23.6% | 13.4% | ||
| Q1 25 | -59.3% | 20.4% | ||
| Q4 24 | 21.1% | 12.3% | ||
| Q3 24 | 61.2% | 10.8% | ||
| Q2 24 | 23.3% | 12.8% | ||
| Q1 24 | 19.5% | 11.2% |
每股收益（稀释后）APDWDFC
| Q4 25 | $3.04 | $1.28 | ||
| Q3 25 | $0.03 | $1.57 | ||
| Q2 25 | $3.20 | $1.54 | ||
| Q1 25 | $-7.77 | $2.19 | ||
| Q4 24 | $2.77 | $1.39 | ||
| Q3 24 | $8.75 | $1.23 | ||
| Q2 24 | $3.13 | $1.46 | ||
| Q1 24 | $2.57 | $1.14 |
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 | $48.6M |
| 总债务越低越好 | — | $85.7M |
| 股东权益账面价值 | $15.4B | $264.1M |
| 总资产 | $41.2B | $459.7M |
| 负债/权益比越低杠杆越低 | — | 0.32× |
8季度趋势，按日历期对齐
现金及短期投资APDWDFC
| Q4 25 | $1.0B | $48.6M | ||
| Q3 25 | $1.9B | $58.1M | ||
| Q2 25 | $2.3B | $51.7M | ||
| Q1 25 | $1.6B | $53.0M | ||
| Q4 24 | $2.0B | $54.9M | ||
| Q3 24 | $3.0B | $46.7M | ||
| Q2 24 | $2.4B | $45.3M | ||
| Q1 24 | $2.6B | $55.4M |
总债务APDWDFC
| Q4 25 | — | $85.7M | ||
| Q3 25 | — | $86.2M | ||
| Q2 25 | — | $85.6M | ||
| Q1 25 | — | $84.4M | ||
| Q4 24 | — | $84.6M | ||
| Q3 24 | — | $86.0M | ||
| Q2 24 | — | $85.5M | ||
| Q1 24 | — | $85.9M |
股东权益APDWDFC
| Q4 25 | $15.4B | $264.1M | ||
| Q3 25 | $15.0B | $268.2M | ||
| Q2 25 | $15.5B | $257.1M | ||
| Q1 25 | $14.7B | $242.1M | ||
| Q4 24 | $16.7B | $226.3M | ||
| Q3 24 | $17.0B | $230.5M | ||
| Q2 24 | $15.1B | $222.2M | ||
| Q1 24 | $14.9B | $216.3M |
总资产APDWDFC
| Q4 25 | $41.2B | $459.7M | ||
| Q3 25 | $41.1B | $475.8M | ||
| Q2 25 | $41.7B | $456.0M | ||
| Q1 25 | $38.9B | $458.3M | ||
| Q4 24 | $40.0B | $447.3M | ||
| Q3 24 | $39.6B | $449.0M | ||
| Q2 24 | $37.0B | $443.6M | ||
| Q1 24 | $35.9B | $442.0M |
负债/权益比APDWDFC
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 0.37× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | — | 0.40× |
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 | $10.0M |
| 自由现金流经营现金流 - 资本支出 | $-350.5M | $9.1M |
| 自由现金流率自由现金流/营收 | -11.3% | 5.9% |
| 资本支出强度资本支出/营收 | 40.3% | 0.6% |
| 现金转化率经营现金流/净利润 | 1.33× | 0.57× |
| 过去12个月自由现金流最近4个季度 | — | $78.2M |
8季度趋势，按日历期对齐
经营现金流APDWDFC
| Q4 25 | $900.7M | $10.0M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | $855.8M | $35.1M | ||
| Q1 25 | $328.1M | $8.0M | ||
| Q4 24 | $811.7M | $14.9M | ||
| Q3 24 | — | $27.2M | ||
| Q2 24 | $1.3B | $19.9M | ||
| Q1 24 | $801.7M | $18.0M |
自由现金流APDWDFC
| Q4 25 | $-350.5M | $9.1M | ||
| Q3 25 | — | $28.6M | ||
| Q2 25 | $-640.0M | $34.0M | ||
| Q1 25 | $-1.6B | $6.6M | ||
| Q4 24 | $-1.3B | $14.2M | ||
| Q3 24 | — | $26.4M | ||
| Q2 24 | $-345.2M | $18.7M | ||
| Q1 24 | $-867.7M | $16.7M |
自由现金流率APDWDFC
| Q4 25 | -11.3% | 5.9% | ||
| Q3 25 | — | 17.5% | ||
| Q2 25 | -21.2% | 21.6% | ||
| Q1 25 | -53.6% | 4.5% | ||
| Q4 24 | -44.5% | 9.3% | ||
| Q3 24 | — | 16.9% | ||
| Q2 24 | -11.6% | 12.0% | ||
| Q1 24 | -29.6% | 12.0% |
资本支出强度APDWDFC
| Q4 25 | 40.3% | 0.6% | ||
| Q3 25 | 47.9% | 0.8% | ||
| Q2 25 | 49.5% | 0.7% | ||
| Q1 25 | 64.9% | 0.9% | ||
| Q4 24 | 72.2% | 0.5% | ||
| Q3 24 | 65.1% | 0.5% | ||
| Q2 24 | 53.8% | 0.8% | ||
| Q1 24 | 57.0% | 0.9% |
现金转化率APDWDFC
| Q4 25 | 1.33× | 0.57× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | 1.20× | 1.67× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | 1.31× | 0.79× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | 1.81× | 1.00× | ||
| Q1 24 | 1.40× | 1.16× |
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% |
WDFC
| Other | $82.6M | 53% |
| WD40Multi Use Product | $56.0M | 36% |
| WD40Specialist | $9.0M | 6% |
| Other Maintenance Products | $4.0M | 3% |
| Homecare And Cleaning Products | $2.7M | 2% |
