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安波福（APTV）与GE Vernova（GEV）财务数据对比。点击上方公司名可切换其他公司
GE Vernova的季度营收约是安波福的1.8倍（$9.3B vs $5.2B），GE Vernova净利率更高（50.9% vs 2.7%，领先48.2%），GE Vernova同比增速更快（16.3% vs 5.0%），GE Vernova自由现金流更多（$4.8B vs $651.0M），过去两年GE Vernova的营收复合增速更高（6.7% vs 2.5%）
安波福（Aptiv）是源自美国的全球知名汽车技术供应商，总部设于瑞士沙夫豪森。其前身是通用汽车旗下的零部件业务板块，后独立为德尔福汽车系统，经业务拆分重组后正式成立安波福，服务全球各大整车制造企业。
GE Vernova是总部位于美国马萨诸塞州剑桥市的能源设备制造及服务企业，下设三大核心业务板块：电力板块主营燃气、核电、水电、蒸汽技术的设计、制造与运维；风电板块提供陆上风电机组、海上风电机组及叶片；电气化板块覆盖电网解决方案、电能转换、光储方案及输配电管理相关数字技术。
APTV vs GEV — 直观对比
营收规模更大
GEV
是对方的1.8倍
$5.2B
营收增速更快
GEV
高出11.3%
5.0%
净利率更高
GEV
高出48.2%
2.7%
自由现金流更多
GEV
多$4.1B
$651.0M
两年增速更快
GEV
近两年复合增速
2.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.2B | $9.3B |
| 净利润 | $138.0M | $4.8B |
| 毛利率 | 18.7% | — |
| 营业利润率 | 8.2% | — |
| 净利率 | 2.7% | 50.9% |
| 营收同比 | 5.0% | 16.3% |
| 净利润同比 | -48.5% | 5.9% |
| 每股收益（稀释后） | $0.63 | $17.44 |
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APTVGEV
| Q1 26 | — | $9.3B | ||
| Q4 25 | $5.2B | $11.0B | ||
| Q3 25 | $5.2B | $10.0B | ||
| Q2 25 | $5.2B | $9.1B | ||
| Q1 25 | $4.8B | $8.0B | ||
| Q4 24 | $4.9B | $10.6B | ||
| Q3 24 | $4.9B | $8.9B | ||
| Q2 24 | $5.1B | $8.2B |
净利润APTVGEV
| Q1 26 | — | $4.8B | ||
| Q4 25 | $138.0M | $3.7B | ||
| Q3 25 | $-355.0M | $452.0M | ||
| Q2 25 | $393.0M | $514.0M | ||
| Q1 25 | $-11.0M | $254.0M | ||
| Q4 24 | $268.0M | $484.0M | ||
| Q3 24 | $363.0M | $-96.0M | ||
| Q2 24 | $938.0M | $1.3B |
毛利率APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | 18.7% | 21.2% | ||
| Q3 25 | 19.5% | 19.0% | ||
| Q2 25 | 19.1% | 20.3% | ||
| Q1 25 | 19.1% | 18.3% | ||
| Q4 24 | 19.6% | 20.1% | ||
| Q3 24 | 18.6% | 12.4% | ||
| Q2 24 | 19.2% | 20.7% |
营业利润率APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | 8.2% | 5.5% | ||
| Q3 25 | -3.4% | 3.7% | ||
| Q2 25 | 9.3% | 4.1% | ||
| Q1 25 | 9.3% | 0.5% | ||
| Q4 24 | 9.8% | 5.6% | ||
| Q3 24 | 10.4% | -4.0% | ||
| Q2 24 | 8.7% | 6.4% |
净利率APTVGEV
| Q1 26 | — | 50.9% | ||
| Q4 25 | 2.7% | 33.4% | ||
| Q3 25 | -6.8% | 4.5% | ||
| Q2 25 | 7.5% | 5.6% | ||
| Q1 25 | -0.2% | 3.2% | ||
| Q4 24 | 5.5% | 4.6% | ||
| Q3 24 | 7.5% | -1.1% | ||
| Q2 24 | 18.6% | 15.8% |
每股收益（稀释后）APTVGEV
| Q1 26 | — | $17.44 | ||
| Q4 25 | $0.63 | $13.28 | ||
| Q3 25 | $-1.63 | $1.64 | ||
| Q2 25 | $1.80 | $1.86 | ||
| Q1 25 | $-0.05 | $0.91 | ||
| Q4 24 | $1.22 | $1.75 | ||
| Q3 24 | $1.48 | $-0.35 | ||
| Q2 24 | $3.47 | $4.65 |
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 | $1.9B | — |
| 总债务越低越好 | $7.5B | — |
| 股东权益账面价值 | $9.2B | — |
| 总资产 | $23.4B | — |
| 负债/权益比越低杠杆越低 | 0.81× | — |
8季度趋势，按日历期对齐
现金及短期投资APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $2.2B | — |
总债务APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | $7.5B | — | ||
| Q3 25 | $7.6B | — | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.8B | — | ||
| Q3 24 | $8.3B | — | ||
| Q2 24 | $5.5B | — |
股东权益APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | $9.2B | $11.2B | ||
| Q3 25 | $9.3B | $8.6B | ||
| Q2 25 | $9.7B | $8.9B | ||
| Q1 25 | $9.0B | $8.6B | ||
| Q4 24 | $8.8B | $9.5B | ||
| Q3 24 | $8.9B | $9.5B | ||
| Q2 24 | $11.5B | $9.1B |
总资产APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | $23.4B | $63.0B | ||
| Q3 25 | $23.5B | $54.4B | ||
| Q2 25 | $23.9B | $53.1B | ||
| Q1 25 | $23.1B | $51.6B | ||
| Q4 24 | $23.5B | $51.5B | ||
| Q3 24 | $24.8B | $50.9B | ||
| Q2 24 | $24.8B | $48.1B |
负债/权益比APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | 0.81× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.85× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.93× | — | ||
| Q2 24 | 0.48× | — |
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 | $818.0M | — |
| 自由现金流经营现金流 - 资本支出 | $651.0M | $4.8B |
| 自由现金流率自由现金流/营收 | 12.6% | 51.3% |
| 资本支出强度资本支出/营收 | 3.2% | — |
| 现金转化率经营现金流/净利润 | 5.93× | — |
| 过去12个月自由现金流最近4个季度 | $1.5B | $7.5B |
8季度趋势，按日历期对齐
经营现金流APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | $818.0M | $2.5B | ||
| Q3 25 | $584.0M | $980.0M | ||
| Q2 25 | $510.0M | $367.0M | ||
| Q1 25 | $273.0M | $1.2B | ||
| Q4 24 | $1.1B | $921.0M | ||
| Q3 24 | $499.0M | $1.1B | ||
| Q2 24 | $643.0M | $979.0M |
自由现金流APTVGEV
| Q1 26 | — | $4.8B | ||
| Q4 25 | $651.0M | $1.8B | ||
| Q3 25 | $441.0M | $733.0M | ||
| Q2 25 | $361.0M | $194.0M | ||
| Q1 25 | $76.0M | $975.0M | ||
| Q4 24 | $894.0M | $571.0M | ||
| Q3 24 | $326.0M | $968.0M | ||
| Q2 24 | $417.0M | $822.0M |
自由现金流率APTVGEV
| Q1 26 | — | 51.3% | ||
| Q4 25 | 12.6% | 16.5% | ||
| Q3 25 | 8.5% | 7.4% | ||
| Q2 25 | 6.9% | 2.1% | ||
| Q1 25 | 1.6% | 12.1% | ||
| Q4 24 | 18.2% | 5.4% | ||
| Q3 24 | 6.7% | 10.9% | ||
| Q2 24 | 8.3% | 10.0% |
资本支出强度APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 6.1% | ||
| Q3 25 | 2.7% | 2.5% | ||
| Q2 25 | 2.9% | 1.9% | ||
| Q1 25 | 4.1% | 2.3% | ||
| Q4 24 | 3.4% | 3.3% | ||
| Q3 24 | 3.6% | 1.8% | ||
| Q2 24 | 4.5% | 1.9% |
现金转化率APTVGEV
| Q1 26 | — | — | ||
| Q4 25 | 5.93× | 0.68× | ||
| Q3 25 | — | 2.17× | ||
| Q2 25 | 1.30× | 0.71× | ||
| Q1 25 | — | 4.57× | ||
| Q4 24 | 3.96× | 1.90× | ||
| Q3 24 | 1.37× | — | ||
| Q2 24 | 0.69× | 0.76× |
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
APTV
| Electrical Distribution Systems | $2.3B | 45% |
| Engineered Components Group | $1.4B | 28% |
| Active Safety | $716.0M | 14% |
| User Experience And Other | $564.0M | 11% |
| Smart Vehicle Compute And Software | $154.0M | 3% |
GEV
| Organic revenues | $8.6B | 92% |
| Other | $752.0M | 8% |
