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安费诺（APH）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
安费诺的季度营收约是国际纸业的1.4倍（$6.4B vs $4.7B），安费诺净利率更高（18.6% vs -50.3%，领先68.8%），安费诺同比增速更快（49.1% vs 3.6%），安费诺自由现金流更多（$1.5B vs $255.0M），过去两年安费诺的营收复合增速更高（40.6% vs 1.3%）
安费诺是一家总部位于美国的电子零部件制造企业，核心产品涵盖电子连接器、光纤连接器、同轴电缆等各类线缆及互连系统，是全球互连解决方案领域的主流供应商，品牌名称源自其前身American Phenolic Corp的名称缩写组合。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
APH vs IP — 直观对比
营收规模更大
APH
是对方的1.4倍
$4.7B
营收增速更快
APH
高出45.5%
3.6%
净利率更高
APH
高出68.8%
-50.3%
自由现金流更多
APH
多$1.2B
$255.0M
两年增速更快
APH
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $4.7B |
| 净利润 | $1.2B | $-2.4B |
| 毛利率 | 38.2% | 32.2% |
| 营业利润率 | 26.8% | -56.4% |
| 净利率 | 18.6% | -50.3% |
| 营收同比 | 49.1% | 3.6% |
| 净利润同比 | 60.2% | -1521.8% |
| 每股收益（稀释后） | $0.93 | $-4.76 |
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APHIP
| Q4 25 | $6.4B | $4.7B | ||
| Q3 25 | $6.2B | $6.2B | ||
| Q2 25 | $5.7B | $6.8B | ||
| Q1 25 | $4.8B | $5.9B | ||
| Q4 24 | $4.3B | $4.6B | ||
| Q3 24 | $4.0B | $4.7B | ||
| Q2 24 | $3.6B | $4.7B | ||
| Q1 24 | $3.3B | $4.6B |
净利润APHIP
| Q4 25 | $1.2B | $-2.4B | ||
| Q3 25 | $1.2B | $-1.1B | ||
| Q2 25 | $1.1B | $75.0M | ||
| Q1 25 | $737.8M | $-105.0M | ||
| Q4 24 | $746.1M | $-147.0M | ||
| Q3 24 | $604.4M | $150.0M | ||
| Q2 24 | $524.8M | $498.0M | ||
| Q1 24 | $548.7M | $56.0M |
毛利率APHIP
| Q4 25 | 38.2% | 32.2% | ||
| Q3 25 | 38.1% | 31.1% | ||
| Q2 25 | 36.3% | 27.9% | ||
| Q1 25 | 34.2% | 27.8% | ||
| Q4 24 | 34.3% | 29.0% | ||
| Q3 24 | 33.6% | 28.7% | ||
| Q2 24 | 33.6% | 29.0% | ||
| Q1 24 | 33.4% | 25.9% |
营业利润率APHIP
| Q4 25 | 26.8% | -56.4% | ||
| Q3 25 | 27.5% | -10.8% | ||
| Q2 25 | 25.1% | 1.7% | ||
| Q1 25 | 21.3% | -2.3% | ||
| Q4 24 | 22.1% | -4.9% | ||
| Q3 24 | 20.3% | 5.1% | ||
| Q2 24 | 19.4% | 6.8% | ||
| Q1 24 | 21.0% | 3.7% |
净利率APHIP
| Q4 25 | 18.6% | -50.3% | ||
| Q3 25 | 20.1% | -17.7% | ||
| Q2 25 | 19.3% | 1.1% | ||
| Q1 25 | 15.3% | -1.8% | ||
| Q4 24 | 17.3% | -3.2% | ||
| Q3 24 | 15.0% | 3.2% | ||
| Q2 24 | 14.5% | 10.5% | ||
| Q1 24 | 16.9% | 1.2% |
每股收益（稀释后）APHIP
| Q4 25 | $0.93 | $-4.76 | ||
| Q3 25 | $0.97 | $-2.09 | ||
| Q2 25 | $0.86 | $0.14 | ||
| Q1 25 | $0.58 | $-0.24 | ||
| Q4 24 | $0.16 | $-0.42 | ||
| Q3 24 | $0.48 | $0.42 | ||
| Q2 24 | $0.41 | $1.41 | ||
| Q1 24 | $0.87 | $0.16 |
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 | $11.4B | $1.1B |
| 总债务越低越好 | $14.6B | $8.8B |
| 股东权益账面价值 | $13.4B | $14.8B |
| 总资产 | $36.2B | $38.0B |
| 负债/权益比越低杠杆越低 | 1.09× | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资APHIP
| Q4 25 | $11.4B | $1.1B | ||
| Q3 25 | $3.9B | $995.0M | ||
| Q2 25 | $3.2B | $1.1B | ||
| Q1 25 | $1.7B | $1.2B | ||
| Q4 24 | $3.3B | $1.2B | ||
| Q3 24 | $1.6B | $1.2B | ||
| Q2 24 | $1.3B | $1.0B | ||
| Q1 24 | $2.0B | $1.1B |
总债务APHIP
| Q4 25 | $14.6B | $8.8B | ||
| Q3 25 | $7.1B | $9.0B | ||
| Q2 25 | $7.1B | $9.7B | ||
| Q1 25 | $6.8B | $9.2B | ||
| Q4 24 | $6.5B | $5.4B | ||
| Q3 24 | $5.1B | $5.3B | ||
| Q2 24 | $5.0B | $5.3B | ||
| Q1 24 | $3.6B | $5.5B |
股东权益APHIP
| Q4 25 | $13.4B | $14.8B | ||
| Q3 25 | $12.5B | $17.3B | ||
| Q2 25 | $11.5B | $18.6B | ||
| Q1 25 | $10.3B | $18.1B | ||
| Q4 24 | $9.8B | $8.2B | ||
| Q3 24 | $9.5B | $8.6B | ||
| Q2 24 | $9.0B | $8.6B | ||
| Q1 24 | $8.7B | $8.3B |
总资产APHIP
| Q4 25 | $36.2B | $38.0B | ||
| Q3 25 | $27.1B | $40.6B | ||
| Q2 25 | $25.7B | $42.4B | ||
| Q1 25 | $22.9B | $41.2B | ||
| Q4 24 | $21.4B | $22.8B | ||
| Q3 24 | $19.6B | $23.2B | ||
| Q2 24 | $18.6B | $23.1B | ||
| Q1 24 | $16.7B | $23.0B |
负债/权益比APHIP
| Q4 25 | 1.09× | 0.60× | ||
| Q3 25 | 0.57× | 0.52× | ||
| Q2 25 | 0.62× | 0.52× | ||
| Q1 25 | 0.66× | 0.51× | ||
| Q4 24 | 0.66× | 0.66× | ||
| Q3 24 | 0.54× | 0.62× | ||
| Q2 24 | 0.56× | 0.62× | ||
| Q1 24 | 0.41× | 0.66× |
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 | $1.7B | $905.0M |
| 自由现金流经营现金流 - 资本支出 | $1.5B | $255.0M |
| 自由现金流率自由现金流/营收 | 22.8% | 5.4% |
| 资本支出强度资本支出/营收 | 3.9% | 13.7% |
| 现金转化率经营现金流/净利润 | 1.44× | — |
| 过去12个月自由现金流最近4个季度 | $4.4B | $-159.0M |
8季度趋势，按日历期对齐
经营现金流APHIP
| Q4 25 | $1.7B | $905.0M | ||
| Q3 25 | $1.5B | $605.0M | ||
| Q2 25 | $1.4B | $476.0M | ||
| Q1 25 | $764.9M | $-288.0M | ||
| Q4 24 | $847.1M | $397.0M | ||
| Q3 24 | $704.0M | $521.0M | ||
| Q2 24 | $664.1M | $365.0M | ||
| Q1 24 | $599.5M | $395.0M |
自由现金流APHIP
| Q4 25 | $1.5B | $255.0M | ||
| Q3 25 | $1.2B | $150.0M | ||
| Q2 25 | $1.1B | $54.0M | ||
| Q1 25 | $576.3M | $-618.0M | ||
| Q4 24 | $647.3M | $137.0M | ||
| Q3 24 | $474.0M | $309.0M | ||
| Q2 24 | $522.8M | $167.0M | ||
| Q1 24 | $505.2M | $144.0M |
自由现金流率APHIP
| Q4 25 | 22.8% | 5.4% | ||
| Q3 25 | 19.6% | 2.4% | ||
| Q2 25 | 19.8% | 0.8% | ||
| Q1 25 | 12.0% | -10.5% | ||
| Q4 24 | 15.0% | 3.0% | ||
| Q3 24 | 11.7% | 6.6% | ||
| Q2 24 | 14.5% | 3.5% | ||
| Q1 24 | 15.5% | 3.1% |
资本支出强度APHIP
| Q4 25 | 3.9% | 13.7% | ||
| Q3 25 | 4.2% | 7.3% | ||
| Q2 25 | 5.3% | 6.2% | ||
| Q1 25 | 3.9% | 5.6% | ||
| Q4 24 | 4.6% | 5.7% | ||
| Q3 24 | 5.7% | 4.5% | ||
| Q2 24 | 3.9% | 4.2% | ||
| Q1 24 | 2.9% | 5.4% |
现金转化率APHIP
| Q4 25 | 1.44× | — | ||
| Q3 25 | 1.18× | — | ||
| Q2 25 | 1.30× | 6.35× | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 1.16× | 3.47× | ||
| Q2 24 | 1.27× | 0.73× | ||
| Q1 24 | 1.09× | 7.05× |
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
APH
| Communications Solutions Segment | $3.5B | 54% |
| Harsh Environment Solutions Segment | $1.7B | 26% |
| Sales Channel Through Intermediary | $1.4B | 21% |
IP
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
