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安波福（APTV）与梅西百货（M）财务数据对比。点击上方公司名可切换其他公司
安波福的季度营收约是梅西百货的1.1倍（$5.2B vs $4.7B）。安波福净利率更高（2.7% vs 0.2%，领先2.4%）。安波福同比增速更快（5.0% vs -0.6%）。安波福自由现金流更多（$651.0M vs $-101.0M）。过去两年安波福的营收复合增速更高（2.5% vs -23.8%）
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。
梅西百货是美国知名百货控股集团，1929年成立时名为联合百货，最初持有Abraham & Straus、Lazarus等多个区域连锁百货品牌，次年布鲁明戴尔正式加入。集团早年频繁开展资产并购与剥离，1994年收购1858年创立的老牌百货梅西，随后更名并发展为美国头部百货零售企业。
APTV vs M — 直观对比
营收规模更大
APTV
是对方的1.1倍
$4.7B
营收增速更快
APTV
高出5.6%
-0.6%
净利率更高
APTV
高出2.4%
0.2%
自由现金流更多
APTV
多$752.0M
$-101.0M
两年增速更快
APTV
近两年复合增速
-23.8%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $5.2B | $4.7B |
| 净利润 | $138.0M | $11.0M |
| 毛利率 | 18.7% | 39.4% |
| 营业利润率 | 8.2% | 0.9% |
| 净利率 | 2.7% | 0.2% |
| 营收同比 | 5.0% | -0.6% |
| 净利润同比 | -48.5% | -60.7% |
| 每股收益（稀释后） | $0.63 | $0.04 |
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APTVM
| Q4 25 | $5.2B | $4.7B | ||
| Q3 25 | $5.2B | $4.8B | ||
| Q2 25 | $5.2B | $4.6B | ||
| Q1 25 | $4.8B | $7.8B | ||
| Q4 24 | $4.9B | $4.7B | ||
| Q3 24 | $4.9B | $4.9B | ||
| Q2 24 | $5.1B | $4.8B | ||
| Q1 24 | $4.9B | $8.1B |
净利润APTVM
| Q4 25 | $138.0M | $11.0M | ||
| Q3 25 | $-355.0M | $87.0M | ||
| Q2 25 | $393.0M | $38.0M | ||
| Q1 25 | $-11.0M | $342.0M | ||
| Q4 24 | $268.0M | $28.0M | ||
| Q3 24 | $363.0M | $150.0M | ||
| Q2 24 | $938.0M | $62.0M | ||
| Q1 24 | $218.0M | $-71.0M |
毛利率APTVM
| Q4 25 | 18.7% | 39.4% | ||
| Q3 25 | 19.5% | 39.7% | ||
| Q2 25 | 19.1% | 39.2% | ||
| Q1 25 | 19.1% | 35.7% | ||
| Q4 24 | 19.6% | 39.6% | ||
| Q3 24 | 18.6% | 40.5% | ||
| Q2 24 | 19.2% | 39.2% | ||
| Q1 24 | 17.9% | 37.5% |
营业利润率APTVM
| Q4 25 | 8.2% | 0.9% | ||
| Q3 25 | -3.4% | 3.1% | ||
| Q2 25 | 9.3% | 2.0% | ||
| Q1 25 | 9.3% | 6.4% | ||
| Q4 24 | 9.8% | 1.3% | ||
| Q3 24 | 10.4% | 4.5% | ||
| Q2 24 | 8.7% | 2.6% | ||
| Q1 24 | 8.5% | -0.9% |
净利率APTVM
| Q4 25 | 2.7% | 0.2% | ||
| Q3 25 | -6.8% | 1.8% | ||
| Q2 25 | 7.5% | 0.8% | ||
| Q1 25 | -0.2% | 4.4% | ||
| Q4 24 | 5.5% | 0.6% | ||
| Q3 24 | 7.5% | 3.0% | ||
| Q2 24 | 18.6% | 1.3% | ||
| Q1 24 | 4.4% | -0.9% |
每股收益（稀释后）APTVM
| Q4 25 | $0.63 | $0.04 | ||
| Q3 25 | $-1.63 | $0.31 | ||
| Q2 25 | $1.80 | $0.13 | ||
| Q1 25 | $-0.05 | $1.22 | ||
| Q4 24 | $1.22 | $0.10 | ||
| Q3 24 | $1.48 | $0.53 | ||
| Q2 24 | $3.47 | $0.22 | ||
| Q1 24 | $0.79 | $-0.25 |
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 | $447.0M |
| 总债务越低越好 | $7.5B | $2.4B |
| 股东权益账面价值 | $9.2B | $4.3B |
| 总资产 | $23.4B | $17.1B |
| 负债/权益比越低杠杆越低 | 0.81× | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资APTVM
| Q4 25 | $1.9B | $447.0M | ||
| Q3 25 | $1.6B | $829.0M | ||
| Q2 25 | $1.4B | $932.0M | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.6B | $315.0M | ||
| Q3 24 | $1.8B | $646.0M | ||
| Q2 24 | $2.2B | $876.0M | ||
| Q1 24 | $941.0M | $1.0B |
总债务APTVM
| Q4 25 | $7.5B | $2.4B | ||
| Q3 25 | $7.6B | $2.4B | ||
| Q2 25 | $7.8B | $2.8B | ||
| Q1 25 | $7.6B | $2.8B | ||
| Q4 24 | $7.8B | $2.8B | ||
| Q3 24 | $8.3B | $3.0B | ||
| Q2 24 | $5.5B | $3.0B | ||
| Q1 24 | $4.7B | $3.0B |
股东权益APTVM
| Q4 25 | $9.2B | $4.3B | ||
| Q3 25 | $9.3B | $4.5B | ||
| Q2 25 | $9.7B | $4.5B | ||
| Q1 25 | $9.0B | $4.6B | ||
| Q4 24 | $8.8B | $4.1B | ||
| Q3 24 | $8.9B | $4.3B | ||
| Q2 24 | $11.5B | $4.2B | ||
| Q1 24 | $11.1B | $4.1B |
总资产APTVM
| Q4 25 | $23.4B | $17.1B | ||
| Q3 25 | $23.5B | $15.6B | ||
| Q2 25 | $23.9B | $16.1B | ||
| Q1 25 | $23.1B | $16.4B | ||
| Q4 24 | $23.5B | $17.3B | ||
| Q3 24 | $24.8B | $15.8B | ||
| Q2 24 | $24.8B | $16.4B | ||
| Q1 24 | $23.6B | $16.2B |
负债/权益比APTVM
| Q4 25 | 0.81× | 0.56× | ||
| Q3 25 | 0.82× | 0.55× | ||
| Q2 25 | 0.80× | 0.62× | ||
| Q1 25 | 0.85× | 0.61× | ||
| Q4 24 | 0.89× | 0.67× | ||
| Q3 24 | 0.93× | 0.70× | ||
| Q2 24 | 0.48× | 0.72× | ||
| Q1 24 | 0.42× | 0.72× |
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 | $-8.0M |
| 自由现金流经营现金流 - 资本支出 | $651.0M | $-101.0M |
| 自由现金流率自由现金流/营收 | 12.6% | -2.1% |
| 资本支出强度资本支出/营收 | 3.2% | 2.0% |
| 现金转化率经营现金流/净利润 | 5.93× | -0.73× |
| 过去12个月自由现金流最近4个季度 | $1.5B | $1.2B |
8季度趋势，按日历期对齐
经营现金流APTVM
| Q4 25 | $818.0M | $-8.0M | ||
| Q3 25 | $584.0M | $319.0M | ||
| Q2 25 | $510.0M | $-64.0M | ||
| Q1 25 | $273.0M | $1.3B | ||
| Q4 24 | $1.1B | $-167.0M | ||
| Q3 24 | $499.0M | $8.0M | ||
| Q2 24 | $643.0M | $129.0M | ||
| Q1 24 | $244.0M | $1.1B |
自由现金流APTVM
| Q4 25 | $651.0M | $-101.0M | ||
| Q3 25 | $441.0M | $240.0M | ||
| Q2 25 | $361.0M | $-164.0M | ||
| Q1 25 | $76.0M | $1.2B | ||
| Q4 24 | $894.0M | $-295.0M | ||
| Q3 24 | $326.0M | $-109.0M | ||
| Q2 24 | $417.0M | $-25.0M | ||
| Q1 24 | $-21.0M | $1.0B |
自由现金流率APTVM
| Q4 25 | 12.6% | -2.1% | ||
| Q3 25 | 8.5% | 5.0% | ||
| Q2 25 | 6.9% | -3.6% | ||
| Q1 25 | 1.6% | 15.3% | ||
| Q4 24 | 18.2% | -6.2% | ||
| Q3 24 | 6.7% | -2.2% | ||
| Q2 24 | 8.3% | -0.5% | ||
| Q1 24 | -0.4% | 12.3% |
资本支出强度APTVM
| Q4 25 | 3.2% | 2.0% | ||
| Q3 25 | 2.7% | 1.6% | ||
| Q2 25 | 2.9% | 2.2% | ||
| Q1 25 | 4.1% | 1.5% | ||
| Q4 24 | 3.4% | 2.7% | ||
| Q3 24 | 3.6% | 2.4% | ||
| Q2 24 | 4.5% | 3.2% | ||
| Q1 24 | 5.4% | 1.8% |
现金转化率APTVM
| Q4 25 | 5.93× | -0.73× | ||
| Q3 25 | — | 3.67× | ||
| Q2 25 | 1.30× | -1.68× | ||
| Q1 25 | — | 3.82× | ||
| Q4 24 | 3.96× | -5.96× | ||
| Q3 24 | 1.37× | 0.05× | ||
| Q2 24 | 0.69× | 2.08× | ||
| Q1 24 | 1.12× | — |
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% |
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
