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Ares Management Corp（ARES）与AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）财务数据对比。点击上方公司名可切换其他公司
Ares Management Corp的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.1倍（$1.5B vs $1.4B），Ares Management Corp净利率更高（3.6% vs -5.4%，领先9.0%），Ares Management Corp同比增速更快（19.5% vs 0.2%），过去两年Ares Management Corp的营收复合增速更高（45.9% vs -7.2%）
Ares Management Corp是一家全球知名的另类投资管理机构，业务覆盖信贷、私募股权及房地产三大投资领域。公司成立于1997年，在北美、欧洲、亚洲多地设有分支机构，为全球客户提供专业的另类资产管理服务。
美国车桥制造控股有限公司总部位于密歇根州底特律，是一家美国汽车传动轴与动力传动系统零部件及系统制造商，在汽车传动领域拥有成熟的技术与产能，为全球多家车企供应相关核心配件。
ARES vs AXL — 直观对比
营收规模更大
ARES
是对方的1.1倍
$1.4B
营收增速更快
ARES
高出19.3%
0.2%
净利率更高
ARES
高出9.0%
-5.4%
两年增速更快
ARES
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.4B |
| 净利润 | $54.2M | $-75.3M |
| 毛利率 | — | 10.2% |
| 营业利润率 | 13.7% | -2.4% |
| 净利率 | 3.6% | -5.4% |
| 营收同比 | 19.5% | 0.2% |
| 净利润同比 | -69.4% | -449.6% |
| 每股收益（稀释后） | — | $-0.62 |
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ARESAXL
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.3B | $1.4B | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $788.7M | $1.6B | ||
| Q1 24 | $707.4M | $1.6B |
净利润ARESAXL
| Q4 25 | $54.2M | $-75.3M | ||
| Q3 25 | $288.9M | $9.2M | ||
| Q2 25 | $137.1M | $39.3M | ||
| Q1 25 | $47.2M | $7.1M | ||
| Q4 24 | $177.3M | $-13.7M | ||
| Q3 24 | $118.5M | $10.0M | ||
| Q2 24 | $94.9M | $18.2M | ||
| Q1 24 | $73.0M | $20.5M |
毛利率ARESAXL
| Q4 25 | — | 10.2% | ||
| Q3 25 | — | 12.6% | ||
| Q2 25 | — | 13.1% | ||
| Q1 25 | — | 12.3% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 11.4% | ||
| Q2 24 | — | 13.3% | ||
| Q1 24 | — | 12.4% |
营业利润率ARESAXL
| Q4 25 | 13.7% | -2.4% | ||
| Q3 25 | 39.3% | 3.2% | ||
| Q2 25 | 21.3% | 3.6% | ||
| Q1 25 | 13.0% | 3.0% | ||
| Q4 24 | 31.8% | 2.6% | ||
| Q3 24 | 29.0% | 2.8% | ||
| Q2 24 | 40.2% | 5.3% | ||
| Q1 24 | 32.7% | 4.8% |
净利率ARESAXL
| Q4 25 | 3.6% | -5.4% | ||
| Q3 25 | 17.4% | 0.6% | ||
| Q2 25 | 10.2% | 2.6% | ||
| Q1 25 | 4.3% | 0.5% | ||
| Q4 24 | 14.1% | -1.0% | ||
| Q3 24 | 10.5% | 0.7% | ||
| Q2 24 | 12.0% | 1.1% | ||
| Q1 24 | 10.3% | 1.3% |
每股收益（稀释后）ARESAXL
| Q4 25 | — | $-0.62 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | — | $0.32 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | — | $-0.11 | ||
| Q3 24 | — | $0.08 | ||
| Q2 24 | — | $0.15 | ||
| Q1 24 | — | $0.17 |
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 | — | $708.9M |
| 总债务越低越好 | — | $4.0B |
| 股东权益账面价值 | $4.3B | $640.0M |
| 总资产 | $28.6B | $6.7B |
| 负债/权益比越低杠杆越低 | — | 6.31× |
8季度趋势，按日历期对齐
现金及短期投资ARESAXL
| Q4 25 | — | $708.9M | ||
| Q3 25 | — | $714.1M | ||
| Q2 25 | — | $586.5M | ||
| Q1 25 | — | $549.2M | ||
| Q4 24 | — | $552.9M | ||
| Q3 24 | — | $542.5M | ||
| Q2 24 | — | $519.9M | ||
| Q1 24 | — | $469.8M |
总债务ARESAXL
| Q4 25 | — | $4.0B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.7B |
股东权益ARESAXL
| Q4 25 | $4.3B | $640.0M | ||
| Q3 25 | $4.5B | $718.4M | ||
| Q2 25 | $4.4B | $673.0M | ||
| Q1 25 | $4.5B | $596.3M | ||
| Q4 24 | $3.5B | $562.8M | ||
| Q3 24 | $2.1B | $616.3M | ||
| Q2 24 | $2.0B | $609.6M | ||
| Q1 24 | $1.8B | $621.4M |
总资产ARESAXL
| Q4 25 | $28.6B | $6.7B | ||
| Q3 25 | $27.0B | $5.3B | ||
| Q2 25 | $27.3B | $5.3B | ||
| Q1 25 | $27.2B | $5.1B | ||
| Q4 24 | $24.9B | $5.1B | ||
| Q3 24 | $24.5B | $5.3B | ||
| Q2 24 | $24.2B | $5.3B | ||
| Q1 24 | $24.4B | $5.4B |
负债/权益比ARESAXL
| Q4 25 | — | 6.31× | ||
| Q3 25 | — | 3.61× | ||
| Q2 25 | — | 3.86× | ||
| Q1 25 | — | 4.38× | ||
| Q4 24 | — | 4.58× | ||
| Q3 24 | — | 4.28× | ||
| Q2 24 | — | 4.42× | ||
| Q1 24 | — | 4.40× |
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 | $-483.7M | $120.5M |
| 自由现金流经营现金流 - 资本支出 | — | $54.7M |
| 自由现金流率自由现金流/营收 | — | 4.0% |
| 资本支出强度资本支出/营收 | — | 4.8% |
| 现金转化率经营现金流/净利润 | -8.92× | — |
| 过去12个月自由现金流最近4个季度 | — | $155.1M |
8季度趋势，按日历期对齐
经营现金流ARESAXL
| Q4 25 | $-483.7M | $120.5M | ||
| Q3 25 | $1.3B | $143.3M | ||
| Q2 25 | $415.7M | $91.9M | ||
| Q1 25 | $2.0B | $55.9M | ||
| Q4 24 | $807.6M | $151.2M | ||
| Q3 24 | $841.3M | $143.6M | ||
| Q2 24 | $432.2M | $142.8M | ||
| Q1 24 | $710.0M | $17.8M |
自由现金流ARESAXL
| Q4 25 | — | $54.7M | ||
| Q3 25 | — | $79.2M | ||
| Q2 25 | — | $34.6M | ||
| Q1 25 | — | $-13.4M | ||
| Q4 24 | — | $73.2M | ||
| Q3 24 | — | $70.4M | ||
| Q2 24 | — | $94.0M | ||
| Q1 24 | — | $-30.2M |
自由现金流率ARESAXL
| Q4 25 | — | 4.0% | ||
| Q3 25 | — | 5.3% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | — | -1.9% |
资本支出强度ARESAXL
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 4.3% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | — | 3.0% |
现金转化率ARESAXL
| Q4 25 | -8.92× | — | ||
| Q3 25 | 4.64× | 15.58× | ||
| Q2 25 | 3.03× | 2.34× | ||
| Q1 25 | 42.28× | 7.87× | ||
| Q4 24 | 4.55× | — | ||
| Q3 24 | 7.10× | 14.36× | ||
| Q2 24 | 4.55× | 7.85× | ||
| Q1 24 | 9.72× | 0.87× |
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
ARES
| Management Service | $991.1M | 66% |
| Management Service Incentive | $206.7M | 14% |
| Carried Interest | $205.4M | 14% |
| Fee Related Performance Revenues | $113.3M | 8% |
AXL
| Driveline | $748.4M | 54% |
| Other | $345.7M | 25% |
| Metal Forming | $289.8M | 21% |
