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安费诺（APH）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
Smurfit Westrock的季度营收约是安费诺的1.2倍（$7.6B vs $6.4B），安费诺净利率更高（18.6% vs 1.3%，领先17.3%），安费诺同比增速更快（49.1% vs 0.5%），安费诺自由现金流更多（$1.5B vs $612.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 40.6%）
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。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
APH vs SW — 直观对比
营收规模更大
SW
是对方的1.2倍
$6.4B
营收增速更快
APH
高出48.6%
0.5%
净利率更高
APH
高出17.3%
1.3%
自由现金流更多
APH
多$856.5M
$612.0M
两年增速更快
SW
近两年复合增速
40.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $7.6B |
| 净利润 | $1.2B | $97.0M |
| 毛利率 | 38.2% | 18.2% |
| 营业利润率 | 26.8% | 5.1% |
| 净利率 | 18.6% | 1.3% |
| 营收同比 | 49.1% | 0.5% |
| 净利润同比 | 60.2% | -33.6% |
| 每股收益（稀释后） | $0.93 | $0.18 |
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APHSW
| Q4 25 | $6.4B | $7.6B | ||
| Q3 25 | $6.2B | $8.0B | ||
| Q2 25 | $5.7B | $7.9B | ||
| Q1 25 | $4.8B | $7.7B | ||
| Q4 24 | $4.3B | $7.5B | ||
| Q3 24 | $4.0B | $7.7B | ||
| Q2 24 | $3.6B | $3.0B | ||
| Q1 24 | $3.3B | $2.9B |
净利润APHSW
| Q4 25 | $1.2B | $97.0M | ||
| Q3 25 | $1.2B | $246.0M | ||
| Q2 25 | $1.1B | $-28.0M | ||
| Q1 25 | $737.8M | $384.0M | ||
| Q4 24 | $746.1M | $146.0M | ||
| Q3 24 | $604.4M | $-150.0M | ||
| Q2 24 | $524.8M | $132.0M | ||
| Q1 24 | $548.7M | $191.0M |
毛利率APHSW
| Q4 25 | 38.2% | 18.2% | ||
| Q3 25 | 38.1% | 19.6% | ||
| Q2 25 | 36.3% | 19.1% | ||
| Q1 25 | 34.2% | 20.6% | ||
| Q4 24 | 34.3% | 19.1% | ||
| Q3 24 | 33.6% | 17.6% | ||
| Q2 24 | 33.6% | 23.3% | ||
| Q1 24 | 33.4% | 24.2% |
营业利润率APHSW
| Q4 25 | 26.8% | 5.1% | ||
| Q3 25 | 27.5% | 6.6% | ||
| Q2 25 | 25.1% | 3.2% | ||
| Q1 25 | 21.3% | 7.2% | ||
| Q4 24 | 22.1% | 5.3% | ||
| Q3 24 | 20.3% | 0.7% | ||
| Q2 24 | 19.4% | 8.2% | ||
| Q1 24 | 21.0% | 10.5% |
净利率APHSW
| Q4 25 | 18.6% | 1.3% | ||
| Q3 25 | 20.1% | 3.1% | ||
| Q2 25 | 19.3% | -0.4% | ||
| Q1 25 | 15.3% | 5.0% | ||
| Q4 24 | 17.3% | 1.9% | ||
| Q3 24 | 15.0% | -2.0% | ||
| Q2 24 | 14.5% | 4.4% | ||
| Q1 24 | 16.9% | 6.5% |
每股收益（稀释后）APHSW
| Q4 25 | $0.93 | $0.18 | ||
| Q3 25 | $0.97 | $0.47 | ||
| Q2 25 | $0.86 | $-0.05 | ||
| Q1 25 | $0.58 | $0.73 | ||
| Q4 24 | $0.16 | $-0.12 | ||
| Q3 24 | $0.48 | $-0.30 | ||
| Q2 24 | $0.41 | $0.51 | ||
| Q1 24 | $0.87 | $0.73 |
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 | $892.0M |
| 总债务越低越好 | $14.6B | $13.4B |
| 股东权益账面价值 | $13.4B | $18.3B |
| 总资产 | $36.2B | $45.2B |
| 负债/权益比越低杠杆越低 | 1.09× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资APHSW
| Q4 25 | $11.4B | $892.0M | ||
| Q3 25 | $3.9B | $851.0M | ||
| Q2 25 | $3.2B | $778.0M | ||
| Q1 25 | $1.7B | $797.0M | ||
| Q4 24 | $3.3B | $855.0M | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.3B | $26.8K | ||
| Q1 24 | $2.0B | $108 |
总债务APHSW
| Q4 25 | $14.6B | $13.4B | ||
| Q3 25 | $7.1B | $13.3B | ||
| Q2 25 | $7.1B | $13.3B | ||
| Q1 25 | $6.8B | $12.9B | ||
| Q4 24 | $6.5B | $12.5B | ||
| Q3 24 | $5.1B | $13.2B | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $3.6B | — |
股东权益APHSW
| Q4 25 | $13.4B | $18.3B | ||
| Q3 25 | $12.5B | $18.4B | ||
| Q2 25 | $11.5B | $18.3B | ||
| Q1 25 | $10.3B | $17.9B | ||
| Q4 24 | $9.8B | $17.4B | ||
| Q3 24 | $9.5B | $18.0B | ||
| Q2 24 | $9.0B | $14.5K | ||
| Q1 24 | $8.7B | $108 |
总资产APHSW
| Q4 25 | $36.2B | $45.2B | ||
| Q3 25 | $27.1B | $45.6B | ||
| Q2 25 | $25.7B | $45.7B | ||
| Q1 25 | $22.9B | $44.6B | ||
| Q4 24 | $21.4B | $43.8B | ||
| Q3 24 | $19.6B | $45.0B | ||
| Q2 24 | $18.6B | $26.8K | ||
| Q1 24 | $16.7B | $108 |
负债/权益比APHSW
| Q4 25 | 1.09× | 0.73× | ||
| Q3 25 | 0.57× | 0.72× | ||
| Q2 25 | 0.62× | 0.73× | ||
| Q1 25 | 0.66× | 0.72× | ||
| Q4 24 | 0.66× | 0.72× | ||
| Q3 24 | 0.54× | 0.73× | ||
| 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 | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $1.5B | $612.0M |
| 自由现金流率自由现金流/营收 | 22.8% | 8.1% |
| 资本支出强度资本支出/营收 | 3.9% | 7.7% |
| 现金转化率经营现金流/净利润 | 1.44× | 12.32× |
| 过去12个月自由现金流最近4个季度 | $4.4B | $1.2B |
8季度趋势，按日历期对齐
经营现金流APHSW
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.4B | $829.0M | ||
| Q1 25 | $764.9M | $235.0M | ||
| Q4 24 | $847.1M | $781.0M | ||
| Q3 24 | $704.0M | $320.0M | ||
| Q2 24 | $664.1M | $340.0M | ||
| Q1 24 | $599.5M | $42.0M |
自由现金流APHSW
| Q4 25 | $1.5B | $612.0M | ||
| Q3 25 | $1.2B | $523.0M | ||
| Q2 25 | $1.1B | $307.0M | ||
| Q1 25 | $576.3M | $-242.0M | ||
| Q4 24 | $647.3M | $212.0M | ||
| Q3 24 | $474.0M | $-192.0M | ||
| Q2 24 | $522.8M | $163.0M | ||
| Q1 24 | $505.2M | $-166.0M |
自由现金流率APHSW
| Q4 25 | 22.8% | 8.1% | ||
| Q3 25 | 19.6% | 6.5% | ||
| Q2 25 | 19.8% | 3.9% | ||
| Q1 25 | 12.0% | -3.2% | ||
| Q4 24 | 15.0% | 2.8% | ||
| Q3 24 | 11.7% | -2.5% | ||
| Q2 24 | 14.5% | 5.5% | ||
| Q1 24 | 15.5% | -5.7% |
资本支出强度APHSW
| Q4 25 | 3.9% | 7.7% | ||
| Q3 25 | 4.2% | 7.6% | ||
| Q2 25 | 5.3% | 6.6% | ||
| Q1 25 | 3.9% | 6.2% | ||
| Q4 24 | 4.6% | 7.5% | ||
| Q3 24 | 5.7% | 6.7% | ||
| Q2 24 | 3.9% | 6.0% | ||
| Q1 24 | 2.9% | 7.1% |
现金转化率APHSW
| Q4 25 | 1.44× | 12.32× | ||
| Q3 25 | 1.18× | 4.61× | ||
| Q2 25 | 1.30× | — | ||
| Q1 25 | 1.04× | 0.61× | ||
| Q4 24 | 1.14× | 5.35× | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.27× | 2.58× | ||
| Q1 24 | 1.09× | 0.22× |
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% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
