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阿波罗全球管理（APO）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
阿波罗全球管理的季度营收约是Smurfit Westrock的1.3倍（$9.9B vs $7.7B），阿波罗全球管理净利率更高（6.9% vs 0.8%，领先6.1%），阿波罗全球管理同比增速更快（86.7% vs 0.7%），过去两年Smurfit Westrock的营收复合增速更高（61.2% vs 18.4%）
阿波罗全球管理是美国头部另类资产管理机构，截至2025年总资产管理规模达8400亿美元，业务涵盖3920亿美元的信贷类资产（含夹层资本、对冲基金、不良贷款、担保贷款凭证等）、990亿美元私募股权，以及462亿美元的地产、基建等实体资产，为全球客户提供专业资产管理服务。
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。
APO vs SW — 直观对比
营收规模更大
APO
是对方的1.3倍
$7.7B
营收增速更快
APO
高出86.0%
0.7%
净利率更高
APO
高出6.1%
0.8%
两年增速更快
SW
近两年复合增速
18.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $7.7B |
| 净利润 | $684.0M | $63.0M |
| 毛利率 | — | 16.4% |
| 营业利润率 | 17.8% | 3.3% |
| 净利率 | 6.9% | 0.8% |
| 营收同比 | 86.7% | 0.7% |
| 净利润同比 | -54.0% | 0.0% |
| 每股收益（稀释后） | $1.09 | $0.12 |
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APOSW
| Q1 26 | — | $7.7B | ||
| Q4 25 | $9.9B | $7.6B | ||
| Q3 25 | $9.8B | $8.0B | ||
| Q2 25 | $6.8B | $7.9B | ||
| Q1 25 | $5.5B | $7.7B | ||
| Q4 24 | $5.3B | $7.5B | ||
| Q3 24 | $7.8B | $7.7B | ||
| Q2 24 | $6.0B | $3.0B |
净利润APOSW
| Q1 26 | — | $63.0M | ||
| Q4 25 | $684.0M | $97.0M | ||
| Q3 25 | $1.7B | $246.0M | ||
| Q2 25 | $630.0M | $-28.0M | ||
| Q1 25 | $442.0M | $384.0M | ||
| Q4 24 | $1.5B | $146.0M | ||
| Q3 24 | $811.0M | $-150.0M | ||
| Q2 24 | $853.0M | $132.0M |
毛利率APOSW
| Q1 26 | — | 16.4% | ||
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% |
营业利润率APOSW
| Q1 26 | — | 3.3% | ||
| Q4 25 | 17.8% | 5.1% | ||
| Q3 25 | 29.5% | 6.6% | ||
| Q2 25 | 12.4% | 3.2% | ||
| Q1 25 | 21.3% | 7.2% | ||
| Q4 24 | 32.6% | 5.3% | ||
| Q3 24 | 26.8% | 0.7% | ||
| Q2 24 | 23.9% | 8.2% |
净利率APOSW
| Q1 26 | — | 0.8% | ||
| Q4 25 | 6.9% | 1.3% | ||
| Q3 25 | 17.7% | 3.1% | ||
| Q2 25 | 9.2% | -0.4% | ||
| Q1 25 | 8.0% | 5.0% | ||
| Q4 24 | 28.1% | 1.9% | ||
| Q3 24 | 10.4% | -2.0% | ||
| Q2 24 | 14.2% | 4.4% |
每股收益（稀释后）APOSW
| Q1 26 | — | $0.12 | ||
| Q4 25 | $1.09 | $0.18 | ||
| Q3 25 | $2.78 | $0.47 | ||
| Q2 25 | $0.99 | $-0.05 | ||
| Q1 25 | $0.68 | $0.73 | ||
| Q4 24 | $2.41 | $-0.12 | ||
| Q3 24 | $1.29 | $-0.30 | ||
| Q2 24 | $1.35 | $0.51 |
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 | — | — |
| 总债务越低越好 | $13.4B | $980.0M |
| 股东权益账面价值 | $23.3B | $18.1B |
| 总资产 | $460.9B | $45.2B |
| 负债/权益比越低杠杆越低 | 0.57× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资APOSW
| Q1 26 | — | — | ||
| Q4 25 | — | $892.0M | ||
| Q3 25 | — | $851.0M | ||
| Q2 25 | — | $778.0M | ||
| Q1 25 | — | $797.0M | ||
| Q4 24 | — | $855.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $26.8K |
总债务APOSW
| Q1 26 | — | $980.0M | ||
| Q4 25 | $13.4B | $13.4B | ||
| Q3 25 | $12.6B | $13.3B | ||
| Q2 25 | $12.1B | $13.3B | ||
| Q1 25 | $10.6B | $12.9B | ||
| Q4 24 | $10.6B | $12.5B | ||
| Q3 24 | $9.8B | $13.2B | ||
| Q2 24 | $9.8B | — |
股东权益APOSW
| Q1 26 | — | $18.1B | ||
| Q4 25 | $23.3B | $18.3B | ||
| Q3 25 | $23.1B | $18.4B | ||
| Q2 25 | $19.3B | $18.3B | ||
| Q1 25 | $18.0B | $17.9B | ||
| Q4 24 | $17.3B | $17.4B | ||
| Q3 24 | $17.9B | $18.0B | ||
| Q2 24 | $15.3B | $14.5K |
总资产APOSW
| Q1 26 | — | $45.2B | ||
| Q4 25 | $460.9B | $45.2B | ||
| Q3 25 | $449.5B | $45.6B | ||
| Q2 25 | $419.6B | $45.7B | ||
| Q1 25 | $395.0B | $44.6B | ||
| Q4 24 | $377.9B | $43.8B | ||
| Q3 24 | $368.7B | $45.0B | ||
| Q2 24 | $346.5B | $26.8K |
负债/权益比APOSW
| Q1 26 | — | 0.05× | ||
| Q4 25 | 0.57× | 0.73× | ||
| Q3 25 | 0.55× | 0.72× | ||
| Q2 25 | 0.63× | 0.73× | ||
| Q1 25 | 0.59× | 0.72× | ||
| Q4 24 | 0.61× | 0.72× | ||
| Q3 24 | 0.55× | 0.73× | ||
| Q2 24 | 0.64× | — |
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 | $4.7B | $204.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 6.83× | 3.24× |
| 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APOSW
| Q1 26 | — | $204.0M | ||
| Q4 25 | $4.7B | $1.2B | ||
| Q3 25 | $303.0M | $1.1B | ||
| Q2 25 | $1.3B | $829.0M | ||
| Q1 25 | $1.0B | $235.0M | ||
| Q4 24 | $-4.0M | $781.0M | ||
| Q3 24 | $1.9B | $320.0M | ||
| Q2 24 | $1.3B | $340.0M |
自由现金流APOSW
| Q1 26 | — | — | ||
| Q4 25 | — | $612.0M | ||
| Q3 25 | — | $523.0M | ||
| Q2 25 | — | $307.0M | ||
| Q1 25 | — | $-242.0M | ||
| Q4 24 | — | $212.0M | ||
| Q3 24 | — | $-192.0M | ||
| Q2 24 | — | $163.0M |
自由现金流率APOSW
| Q1 26 | — | — | ||
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | -2.5% | ||
| Q2 24 | — | 5.5% |
资本支出强度APOSW
| Q1 26 | — | — | ||
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 6.7% | ||
| Q2 24 | — | 6.0% |
现金转化率APOSW
| Q1 26 | — | 3.24× | ||
| Q4 25 | 6.83× | 12.32× | ||
| Q3 25 | 0.17× | 4.61× | ||
| Q2 25 | 2.00× | — | ||
| Q1 25 | 2.29× | 0.61× | ||
| Q4 24 | -0.00× | 5.35× | ||
| Q3 24 | 2.29× | — | ||
| Q2 24 | 1.56× | 2.58× |
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
APO
| Retirement Services Segment | $8.5B | 86% |
| Asset Management1 | $681.0M | 7% |
| Principal Investing Segment | $624.0M | 6% |
| Management Service Incentive | $96.0M | 1% |
SW
暂无分部数据
