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爱玛客（ARMK）与Steel Dynamics（STLD）财务数据对比。点击上方公司名可切换其他公司
Steel Dynamics的季度营收约是爱玛客的1.1倍（$5.2B vs $4.8B），Steel Dynamics净利率更高（7.7% vs 2.0%，领先5.7%），Steel Dynamics同比增速更快（17.9% vs 6.1%），过去两年爱玛客的营收复合增速更高（7.3% vs 6.0%）
爱玛客是美国知名的餐饮服务与设施管理服务商，服务覆盖教育、司法监管、医疗、企业、休闲文旅等多个领域，业务遍布北美地区及英国、德国、智利、爱尔兰、西班牙在内的14个国家，为各场景客户提供专业后勤支持解决方案。
Steel Dynamics是总部位于美国印第安纳州韦恩堡的钢铁生产企业，钢铁产能达1300万吨，为美国第三大碳钢产品生产商，按利润率及每吨运营利润率计算属于美国盈利能力最强的钢企之一，凭借2021年营收位列2022年财富美国500强第196位。
ARMK vs STLD — 直观对比
营收规模更大
STLD
是对方的1.1倍
$4.8B
营收增速更快
STLD
高出11.8%
6.1%
净利率更高
STLD
高出5.7%
2.0%
两年增速更快
ARMK
近两年复合增速
6.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.8B | $5.2B |
| 净利润 | $96.2M | $400.1M |
| 毛利率 | — | 14.7% |
| 营业利润率 | 4.5% | 10.3% |
| 净利率 | 2.0% | 7.7% |
| 营收同比 | 6.1% | 17.9% |
| 净利润同比 | -9.0% | 51.3% |
| 每股收益（稀释后） | $0.36 | $2.78 |
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ARMKSTLD
| Q1 26 | $4.8B | $5.2B | ||
| Q4 25 | $5.0B | $4.4B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | $4.6B | $4.6B | ||
| Q1 25 | $4.3B | $4.4B | ||
| Q4 24 | $4.6B | $3.9B | ||
| Q3 24 | $4.4B | $4.3B | ||
| Q2 24 | $4.4B | $4.6B |
净利润ARMKSTLD
| Q1 26 | $96.2M | $400.1M | ||
| Q4 25 | $87.1M | $266.0M | ||
| Q3 25 | — | $403.7M | ||
| Q2 25 | $71.8M | $298.7M | ||
| Q1 25 | $61.9M | $217.2M | ||
| Q4 24 | $105.6M | $207.3M | ||
| Q3 24 | $122.4M | $317.8M | ||
| Q2 24 | $58.1M | $428.0M |
毛利率ARMKSTLD
| Q1 26 | — | 14.7% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 15.7% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 16.7% |
营业利润率ARMKSTLD
| Q1 26 | 4.5% | 10.3% | ||
| Q4 25 | 4.3% | 7.0% | ||
| Q3 25 | — | 10.5% | ||
| Q2 25 | 3.9% | 8.4% | ||
| Q1 25 | 4.1% | 6.3% | ||
| Q4 24 | 4.8% | 6.1% | ||
| Q3 24 | 5.0% | 9.1% | ||
| Q2 24 | 3.7% | 12.1% |
净利率ARMKSTLD
| Q1 26 | 2.0% | 7.7% | ||
| Q4 25 | 1.7% | 6.0% | ||
| Q3 25 | — | 8.4% | ||
| Q2 25 | 1.6% | 6.5% | ||
| Q1 25 | 1.4% | 5.0% | ||
| Q4 24 | 2.3% | 5.4% | ||
| Q3 24 | 2.8% | 7.3% | ||
| Q2 24 | 1.3% | 9.2% |
每股收益（稀释后）ARMKSTLD
| Q1 26 | $0.36 | $2.78 | ||
| Q4 25 | $0.33 | $1.80 | ||
| Q3 25 | — | $2.74 | ||
| Q2 25 | $0.27 | $2.01 | ||
| Q1 25 | $0.23 | $1.44 | ||
| Q4 24 | $0.39 | $1.40 | ||
| Q3 24 | $0.46 | $2.05 | ||
| Q2 24 | $0.22 | $2.72 |
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 | $439.6M | $556.5M |
| 总债务越低越好 | $6.2B | $4.2B |
| 股东权益账面价值 | $3.2B | $9.0B |
| 总资产 | $13.5B | $16.7B |
| 负债/权益比越低杠杆越低 | 1.94× | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资ARMKSTLD
| Q1 26 | $439.6M | $556.5M | ||
| Q4 25 | $639.1M | $769.9M | ||
| Q3 25 | — | $770.4M | ||
| Q2 25 | $501.5M | $497.6M | ||
| Q1 25 | $920.5M | $1.2B | ||
| Q4 24 | $484.1M | $737.3M | ||
| Q3 24 | $672.5M | $1.7B | ||
| Q2 24 | $436.1M | $1.2B |
总债务ARMKSTLD
| Q1 26 | $6.2B | $4.2B | ||
| Q4 25 | $5.4B | $4.2B | ||
| Q3 25 | — | $3.8B | ||
| Q2 25 | $6.3B | $3.8B | ||
| Q1 25 | $6.1B | $4.2B | ||
| Q4 24 | $5.0B | $3.2B | ||
| Q3 24 | $4.3B | $3.7B | ||
| Q2 24 | $5.0B | $3.1B |
股东权益ARMKSTLD
| Q1 26 | $3.2B | $9.0B | ||
| Q4 25 | $3.1B | $9.0B | ||
| Q3 25 | — | $9.0B | ||
| Q2 25 | $3.1B | $8.9B | ||
| Q1 25 | $3.0B | $8.8B | ||
| Q4 24 | $3.1B | $8.9B | ||
| Q3 24 | $3.0B | $9.1B | ||
| Q2 24 | $2.9B | $9.1B |
总资产ARMKSTLD
| Q1 26 | $13.5B | $16.7B | ||
| Q4 25 | $13.3B | $16.4B | ||
| Q3 25 | — | $16.0B | ||
| Q2 25 | $13.3B | $15.5B | ||
| Q1 25 | $13.5B | $15.9B | ||
| Q4 24 | $12.7B | $14.9B | ||
| Q3 24 | $12.7B | $15.7B | ||
| Q2 24 | $12.5B | $15.1B |
负债/权益比ARMKSTLD
| Q1 26 | 1.94× | 0.47× | ||
| Q4 25 | 1.71× | 0.47× | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | 2.03× | 0.43× | ||
| Q1 25 | 2.02× | 0.48× | ||
| Q4 24 | 1.61× | 0.36× | ||
| Q3 24 | 1.42× | 0.41× | ||
| Q2 24 | 1.71× | 0.34× |
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 | $-782.2M | $148.3M |
| 自由现金流经营现金流 - 资本支出 | $-904.4M | — |
| 自由现金流率自由现金流/营收 | -18.7% | — |
| 资本支出强度资本支出/营收 | 2.5% | — |
| 现金转化率经营现金流/净利润 | -8.13× | 0.37× |
| 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ARMKSTLD
| Q1 26 | $-782.2M | $148.3M | ||
| Q4 25 | — | $272.7M | ||
| Q3 25 | — | $722.6M | ||
| Q2 25 | $76.7M | $301.6M | ||
| Q1 25 | $255.9M | $152.6M | ||
| Q4 24 | $-587.2M | $346.9M | ||
| Q3 24 | $1.0B | $759.9M | ||
| Q2 24 | $140.7M | $382.6M |
自由现金流ARMKSTLD
| Q1 26 | $-904.4M | — | ||
| Q4 25 | — | $84.2M | ||
| Q3 25 | — | $556.9M | ||
| Q2 25 | $-34.7M | $13.3M | ||
| Q1 25 | $140.1M | $-152.9M | ||
| Q4 24 | $-707.0M | $-106.3M | ||
| Q3 24 | $882.3M | $138.5M | ||
| Q2 24 | $55.6M | $-36.6M |
自由现金流率ARMKSTLD
| Q1 26 | -18.7% | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 11.5% | ||
| Q2 25 | -0.8% | 0.3% | ||
| Q1 25 | 3.3% | -3.5% | ||
| Q4 24 | -15.5% | -2.7% | ||
| Q3 24 | 20.0% | 3.2% | ||
| Q2 24 | 1.3% | -0.8% |
资本支出强度ARMKSTLD
| Q1 26 | 2.5% | — | ||
| Q4 25 | 2.8% | 4.3% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | 2.4% | 6.3% | ||
| Q1 25 | 2.7% | 7.0% | ||
| Q4 24 | 2.6% | 11.7% | ||
| Q3 24 | 3.2% | 14.3% | ||
| Q2 24 | 1.9% | 9.0% |
现金转化率ARMKSTLD
| Q1 26 | -8.13× | 0.37× | ||
| Q4 25 | — | 1.03× | ||
| Q3 25 | — | 1.79× | ||
| Q2 25 | 1.07× | 1.01× | ||
| Q1 25 | 4.14× | 0.70× | ||
| Q4 24 | -5.56× | 1.67× | ||
| Q3 24 | 8.35× | 2.39× | ||
| Q2 24 | 2.42× | 0.89× |
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
ARMK
| Education | $1.1B | 22% |
| Sports Leisure Corrections | $961.2M | 20% |
| Food And Support Services International | $847.8M | 18% |
| Other | $621.6M | 13% |
| Businessand Industry | $510.6M | 11% |
| Health Care | $421.3M | 9% |
| Facility Services | $382.9M | 8% |
STLD
| Steel | $3.5B | 68% |
| Metals Recycling | $593.2M | 11% |
| Other | $490.1M | 9% |
| Steel Fabrication | $355.4M | 7% |
| Aluminum | $227.4M | 4% |
