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安波福（APTV）与WATSCO INC（WSO）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WATSCO INC的3.3倍（$5.2B vs $1.6B）。WATSCO INC净利率更高（4.5% vs 2.7%，领先1.9%）。安波福同比增速更快（5.0% vs -10.0%）。安波福自由现金流更多（$651.0M vs $388.5M）。过去两年安波福的营收复合增速更高（2.5% vs 0.4%）
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。
Watsco Inc.是美国暖通空调、供暖及制冷（HVAC/R）设备及相关零部件、耗材的专业分销商。公司成立至今已超60年，最初主营HVAC/R行业相关零部件、工具制造业务，1989年通过收购佛罗里达州南部的瑞姆品牌分销商Gemaire Distributors Inc，正式从制造赛道转向分销领域。
APTV vs WSO — 直观对比
营收规模更大
APTV
是对方的3.3倍
$1.6B
营收增速更快
APTV
高出15.0%
-10.0%
净利率更高
WSO
高出1.9%
2.7%
自由现金流更多
APTV
多$262.5M
$388.5M
两年增速更快
APTV
近两年复合增速
0.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.2B | $1.6B |
| 净利润 | $138.0M | $71.7M |
| 毛利率 | 18.7% | 27.1% |
| 营业利润率 | 8.2% | 6.4% |
| 净利率 | 2.7% | 4.5% |
| 营收同比 | 5.0% | -10.0% |
| 净利润同比 | -48.5% | -25.9% |
| 每股收益（稀释后） | $0.63 | $1.82 |
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APTVWSO
| Q4 25 | $5.2B | $1.6B | ||
| Q3 25 | $5.2B | $2.1B | ||
| Q2 25 | $5.2B | $2.1B | ||
| Q1 25 | $4.8B | $1.5B | ||
| Q4 24 | $4.9B | $1.8B | ||
| Q3 24 | $4.9B | $2.2B | ||
| Q2 24 | $5.1B | $2.1B | ||
| Q1 24 | $4.9B | $1.6B |
净利润APTVWSO
| Q4 25 | $138.0M | $71.7M | ||
| Q3 25 | $-355.0M | $161.6M | ||
| Q2 25 | $393.0M | $183.6M | ||
| Q1 25 | $-11.0M | $80.1M | ||
| Q4 24 | $268.0M | $96.8M | ||
| Q3 24 | $363.0M | $171.0M | ||
| Q2 24 | $938.0M | $181.4M | ||
| Q1 24 | $218.0M | $87.0M |
毛利率APTVWSO
| Q4 25 | 18.7% | 27.1% | ||
| Q3 25 | 19.5% | 27.5% | ||
| Q2 25 | 19.1% | 29.3% | ||
| Q1 25 | 19.1% | 28.1% | ||
| Q4 24 | 19.6% | 26.7% | ||
| Q3 24 | 18.6% | 26.2% | ||
| Q2 24 | 19.2% | 27.1% | ||
| Q1 24 | 17.9% | 27.5% |
营业利润率APTVWSO
| Q4 25 | 8.2% | 6.4% | ||
| Q3 25 | -3.4% | 11.4% | ||
| Q2 25 | 9.3% | 13.2% | ||
| Q1 25 | 9.3% | 7.3% | ||
| Q4 24 | 9.8% | 7.8% | ||
| Q3 24 | 10.4% | 11.6% | ||
| Q2 24 | 8.7% | 12.6% | ||
| Q1 24 | 8.5% | 8.1% |
净利率APTVWSO
| Q4 25 | 2.7% | 4.5% | ||
| Q3 25 | -6.8% | 7.8% | ||
| Q2 25 | 7.5% | 8.9% | ||
| Q1 25 | -0.2% | 5.2% | ||
| Q4 24 | 5.5% | 5.5% | ||
| Q3 24 | 7.5% | 7.9% | ||
| Q2 24 | 18.6% | 8.5% | ||
| Q1 24 | 4.4% | 5.6% |
每股收益（稀释后）APTVWSO
| Q4 25 | $0.63 | $1.82 | ||
| Q3 25 | $-1.63 | $3.98 | ||
| Q2 25 | $1.80 | $4.52 | ||
| Q1 25 | $-0.05 | $1.93 | ||
| Q4 24 | $1.22 | $2.42 | ||
| Q3 24 | $1.48 | $4.22 | ||
| Q2 24 | $3.47 | $4.49 | ||
| Q1 24 | $0.79 | $2.17 |
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 | $733.3M |
| 总债务越低越好 | $7.5B | $361.6M |
| 股东权益账面价值 | $9.2B | $2.8B |
| 总资产 | $23.4B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.81× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资APTVWSO
| Q4 25 | $1.9B | $733.3M | ||
| Q3 25 | $1.6B | $524.3M | ||
| Q2 25 | $1.4B | $293.0M | ||
| Q1 25 | $1.1B | $431.8M | ||
| Q4 24 | $1.6B | $781.9M | ||
| Q3 24 | $1.8B | $550.0M | ||
| Q2 24 | $2.2B | $424.9M | ||
| Q1 24 | $941.0M | $478.9M |
总债务APTVWSO
| Q4 25 | $7.5B | $361.6M | ||
| Q3 25 | $7.6B | $340.8M | ||
| Q2 25 | $7.8B | $338.7M | ||
| Q1 25 | $7.6B | $346.4M | ||
| Q4 24 | $7.8B | $337.2M | ||
| Q3 24 | $8.3B | $321.0M | ||
| Q2 24 | $5.5B | $307.1M | ||
| Q1 24 | $4.7B | $306.3M |
股东权益APTVWSO
| Q4 25 | $9.2B | $2.8B | ||
| Q3 25 | $9.3B | $2.8B | ||
| Q2 25 | $9.7B | $2.8B | ||
| Q1 25 | $9.0B | $2.7B | ||
| Q4 24 | $8.8B | $2.7B | ||
| Q3 24 | $8.9B | $2.7B | ||
| Q2 24 | $11.5B | $2.6B | ||
| Q1 24 | $11.1B | $2.5B |
总资产APTVWSO
| Q4 25 | $23.4B | $4.4B | ||
| Q3 25 | $23.5B | $4.6B | ||
| Q2 25 | $23.9B | $4.7B | ||
| Q1 25 | $23.1B | $4.5B | ||
| Q4 24 | $23.5B | $4.5B | ||
| Q3 24 | $24.8B | $4.5B | ||
| Q2 24 | $24.8B | $4.4B | ||
| Q1 24 | $23.6B | $4.4B |
负债/权益比APTVWSO
| Q4 25 | 0.81× | 0.13× | ||
| Q3 25 | 0.82× | 0.12× | ||
| Q2 25 | 0.80× | 0.12× | ||
| Q1 25 | 0.85× | 0.13× | ||
| Q4 24 | 0.89× | 0.13× | ||
| Q3 24 | 0.93× | 0.12× | ||
| Q2 24 | 0.48× | 0.12× | ||
| Q1 24 | 0.42× | 0.12× |
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 | $399.8M |
| 自由现金流经营现金流 - 资本支出 | $651.0M | $388.5M |
| 自由现金流率自由现金流/营收 | 12.6% | 24.6% |
| 资本支出强度资本支出/营收 | 3.2% | 0.7% |
| 现金转化率经营现金流/净利润 | 5.93× | 5.57× |
| 过去12个月自由现金流最近4个季度 | $1.5B | $535.1M |
8季度趋势，按日历期对齐
经营现金流APTVWSO
| Q4 25 | $818.0M | $399.8M | ||
| Q3 25 | $584.0M | $354.9M | ||
| Q2 25 | $510.0M | $-7.4M | ||
| Q1 25 | $273.0M | $-177.6M | ||
| Q4 24 | $1.1B | $378.9M | ||
| Q3 24 | $499.0M | $232.8M | ||
| Q2 24 | $643.0M | $57.7M | ||
| Q1 24 | $244.0M | $103.7M |
自由现金流APTVWSO
| Q4 25 | $651.0M | $388.5M | ||
| Q3 25 | $441.0M | $346.1M | ||
| Q2 25 | $361.0M | $-14.3M | ||
| Q1 25 | $76.0M | $-185.2M | ||
| Q4 24 | $894.0M | $370.9M | ||
| Q3 24 | $326.0M | $223.0M | ||
| Q2 24 | $417.0M | $51.3M | ||
| Q1 24 | $-21.0M | $97.9M |
自由现金流率APTVWSO
| Q4 25 | 12.6% | 24.6% | ||
| Q3 25 | 8.5% | 16.7% | ||
| Q2 25 | 6.9% | -0.7% | ||
| Q1 25 | 1.6% | -12.1% | ||
| Q4 24 | 18.2% | 21.1% | ||
| Q3 24 | 6.7% | 10.3% | ||
| Q2 24 | 8.3% | 2.4% | ||
| Q1 24 | -0.4% | 6.3% |
资本支出强度APTVWSO
| Q4 25 | 3.2% | 0.7% | ||
| Q3 25 | 2.7% | 0.4% | ||
| Q2 25 | 2.9% | 0.3% | ||
| Q1 25 | 4.1% | 0.5% | ||
| Q4 24 | 3.4% | 0.5% | ||
| Q3 24 | 3.6% | 0.5% | ||
| Q2 24 | 4.5% | 0.3% | ||
| Q1 24 | 5.4% | 0.4% |
现金转化率APTVWSO
| Q4 25 | 5.93× | 5.57× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | 1.30× | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | 3.96× | 3.91× | ||
| Q3 24 | 1.37× | 1.36× | ||
| Q2 24 | 0.69× | 0.32× | ||
| Q1 24 | 1.12× | 1.19× |
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% |
WSO
暂无分部数据
