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安费诺（APH）与贝宝（PYPL）财务数据对比。点击上方公司名可切换其他公司
贝宝的季度营收约是安费诺的1.3倍（$8.7B vs $6.4B），安费诺净利率更高（18.6% vs 16.6%，领先2.0%），安费诺同比增速更快（49.1% vs 3.7%），贝宝自由现金流更多（$2.2B vs $1.5B），过去两年安费诺的营收复合增速更高（40.6% vs 6.2%）
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。
贝宝控股（PayPal Holdings, Inc.）是美国跨国金融科技企业，在全球多数支持线上转账的国家运营在线支付系统，可作为支票、汇票等传统纸质支付方式的电子替代选项，同时为线上商户、拍卖网站及各类商业用户提供支付处理服务。
APH vs PYPL — 直观对比
营收规模更大
PYPL
是对方的1.3倍
$6.4B
营收增速更快
APH
高出45.4%
3.7%
净利率更高
APH
高出2.0%
16.6%
自由现金流更多
PYPL
多$721.5M
$1.5B
两年增速更快
APH
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $8.7B |
| 净利润 | $1.2B | $1.4B |
| 毛利率 | 38.2% | — |
| 营业利润率 | 26.8% | 17.4% |
| 净利率 | 18.6% | 16.6% |
| 营收同比 | 49.1% | 3.7% |
| 净利润同比 | 60.2% | 28.2% |
| 每股收益（稀释后） | $0.93 | $1.53 |
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APHPYPL
| Q4 25 | $6.4B | $8.7B | ||
| Q3 25 | $6.2B | $8.4B | ||
| Q2 25 | $5.7B | $8.3B | ||
| Q1 25 | $4.8B | $7.8B | ||
| Q4 24 | $4.3B | $8.4B | ||
| Q3 24 | $4.0B | $7.8B | ||
| Q2 24 | $3.6B | $7.9B | ||
| Q1 24 | $3.3B | $7.7B |
净利润APHPYPL
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $737.8M | $1.3B | ||
| Q4 24 | $746.1M | $1.1B | ||
| Q3 24 | $604.4M | $1.0B | ||
| Q2 24 | $524.8M | $1.1B | ||
| Q1 24 | $548.7M | $888.0M |
毛利率APHPYPL
| Q4 25 | 38.2% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 36.3% | — | ||
| Q1 25 | 34.2% | — | ||
| Q4 24 | 34.3% | — | ||
| Q3 24 | 33.6% | — | ||
| Q2 24 | 33.6% | — | ||
| Q1 24 | 33.4% | — |
营业利润率APHPYPL
| Q4 25 | 26.8% | 17.4% | ||
| Q3 25 | 27.5% | 18.1% | ||
| Q2 25 | 25.1% | 18.1% | ||
| Q1 25 | 21.3% | 19.6% | ||
| Q4 24 | 22.1% | 17.2% | ||
| Q3 24 | 20.3% | 17.7% | ||
| Q2 24 | 19.4% | 16.8% | ||
| Q1 24 | 21.0% | 15.2% |
净利率APHPYPL
| Q4 25 | 18.6% | 16.6% | ||
| Q3 25 | 20.1% | 14.8% | ||
| Q2 25 | 19.3% | 15.2% | ||
| Q1 25 | 15.3% | 16.5% | ||
| Q4 24 | 17.3% | 13.4% | ||
| Q3 24 | 15.0% | 12.9% | ||
| Q2 24 | 14.5% | 14.3% | ||
| Q1 24 | 16.9% | 11.5% |
每股收益（稀释后）APHPYPL
| Q4 25 | $0.93 | $1.53 | ||
| Q3 25 | $0.97 | $1.30 | ||
| Q2 25 | $0.86 | $1.29 | ||
| Q1 25 | $0.58 | $1.29 | ||
| Q4 24 | $0.16 | $1.09 | ||
| Q3 24 | $0.48 | $0.99 | ||
| Q2 24 | $0.41 | $1.08 | ||
| Q1 24 | $0.87 | $0.83 |
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 | $10.4B |
| 总债务越低越好 | $14.6B | — |
| 股东权益账面价值 | $13.4B | $20.3B |
| 总资产 | $36.2B | $80.2B |
| 负债/权益比越低杠杆越低 | 1.09× | — |
8季度趋势，按日历期对齐
现金及短期投资APHPYPL
| Q4 25 | $11.4B | $10.4B | ||
| Q3 25 | $3.9B | $10.8B | ||
| Q2 25 | $3.2B | $10.0B | ||
| Q1 25 | $1.7B | $11.2B | ||
| Q4 24 | $3.3B | $10.8B | ||
| Q3 24 | $1.6B | $11.9B | ||
| Q2 24 | $1.3B | $13.6B | ||
| Q1 24 | $2.0B | $14.3B |
总债务APHPYPL
| Q4 25 | $14.6B | — | ||
| Q3 25 | $7.1B | — | ||
| Q2 25 | $7.1B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | $6.5B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $3.6B | — |
股东权益APHPYPL
| Q4 25 | $13.4B | $20.3B | ||
| Q3 25 | $12.5B | $20.2B | ||
| Q2 25 | $11.5B | $20.2B | ||
| Q1 25 | $10.3B | $20.3B | ||
| Q4 24 | $9.8B | $20.4B | ||
| Q3 24 | $9.5B | $20.2B | ||
| Q2 24 | $9.0B | $20.6B | ||
| Q1 24 | $8.7B | $20.7B |
总资产APHPYPL
| Q4 25 | $36.2B | $80.2B | ||
| Q3 25 | $27.1B | $79.8B | ||
| Q2 25 | $25.7B | $79.8B | ||
| Q1 25 | $22.9B | $81.3B | ||
| Q4 24 | $21.4B | $81.6B | ||
| Q3 24 | $19.6B | $83.5B | ||
| Q2 24 | $18.6B | $84.0B | ||
| Q1 24 | $16.7B | $83.3B |
负债/权益比APHPYPL
| Q4 25 | 1.09× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.56× | — | ||
| Q1 24 | 0.41× | — |
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 | $2.4B |
| 自由现金流经营现金流 - 资本支出 | $1.5B | $2.2B |
| 自由现金流率自由现金流/营收 | 22.8% | 25.2% |
| 资本支出强度资本支出/营收 | 3.9% | 2.2% |
| 现金转化率经营现金流/净利润 | 1.44× | 1.66× |
| 过去12个月自由现金流最近4个季度 | $4.4B | $5.6B |
8季度趋势，按日历期对齐
经营现金流APHPYPL
| Q4 25 | $1.7B | $2.4B | ||
| Q3 25 | $1.5B | $2.0B | ||
| Q2 25 | $1.4B | $898.0M | ||
| Q1 25 | $764.9M | $1.2B | ||
| Q4 24 | $847.1M | $2.4B | ||
| Q3 24 | $704.0M | $1.6B | ||
| Q2 24 | $664.1M | $1.5B | ||
| Q1 24 | $599.5M | $1.9B |
自由现金流APHPYPL
| Q4 25 | $1.5B | $2.2B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.1B | $692.0M | ||
| Q1 25 | $576.3M | $964.0M | ||
| Q4 24 | $647.3M | $2.2B | ||
| Q3 24 | $474.0M | $1.4B | ||
| Q2 24 | $522.8M | $1.4B | ||
| Q1 24 | $505.2M | $1.8B |
自由现金流率APHPYPL
| Q4 25 | 22.8% | 25.2% | ||
| Q3 25 | 19.6% | 20.4% | ||
| Q2 25 | 19.8% | 8.3% | ||
| Q1 25 | 12.0% | 12.4% | ||
| Q4 24 | 15.0% | 26.2% | ||
| Q3 24 | 11.7% | 18.4% | ||
| Q2 24 | 14.5% | 17.3% | ||
| Q1 24 | 15.5% | 22.9% |
资本支出强度APHPYPL
| Q4 25 | 3.9% | 2.2% | ||
| Q3 25 | 4.2% | 3.0% | ||
| Q2 25 | 5.3% | 2.5% | ||
| Q1 25 | 3.9% | 2.5% | ||
| Q4 24 | 4.6% | 2.4% | ||
| Q3 24 | 5.7% | 2.2% | ||
| Q2 24 | 3.9% | 2.0% | ||
| Q1 24 | 2.9% | 2.0% |
现金转化率APHPYPL
| Q4 25 | 1.44× | 1.66× | ||
| Q3 25 | 1.18× | 1.58× | ||
| Q2 25 | 1.30× | 0.71× | ||
| Q1 25 | 1.04× | 0.90× | ||
| Q4 24 | 1.14× | 2.14× | ||
| Q3 24 | 1.16× | 1.60× | ||
| Q2 24 | 1.27× | 1.35× | ||
| Q1 24 | 1.09× | 2.16× |
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
APH
| Communications Solutions Segment | $3.5B | 54% |
| Harsh Environment Solutions Segment | $1.7B | 26% |
| Sales Channel Through Intermediary | $1.4B | 21% |
PYPL
| US | $4.9B | 57% |
| Non Us | $3.7B | 43% |
