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爱玛客（ARMK）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
Smurfit Westrock的季度营收约是爱玛客的1.6倍（$7.6B vs $4.8B），爱玛客净利率更高（2.0% vs 1.3%，领先0.7%），爱玛客同比增速更快（6.1% vs 0.5%），Smurfit Westrock自由现金流更多（$612.0M vs $-904.4M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 7.3%）
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。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
ARMK vs SW — 直观对比
营收规模更大
SW
是对方的1.6倍
$4.8B
营收增速更快
ARMK
高出5.6%
0.5%
净利率更高
ARMK
高出0.7%
1.3%
自由现金流更多
SW
多$1.5B
$-904.4M
两年增速更快
SW
近两年复合增速
7.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.8B | $7.6B |
| 净利润 | $96.2M | $97.0M |
| 毛利率 | — | 18.2% |
| 营业利润率 | 4.5% | 5.1% |
| 净利率 | 2.0% | 1.3% |
| 营收同比 | 6.1% | 0.5% |
| 净利润同比 | -9.0% | -33.6% |
| 每股收益（稀释后） | $0.36 | $0.18 |
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ARMKSW
| Q1 26 | $4.8B | — | ||
| Q4 25 | $5.0B | $7.6B | ||
| Q3 25 | — | $8.0B | ||
| Q2 25 | $4.6B | $7.9B | ||
| Q1 25 | $4.3B | $7.7B | ||
| Q4 24 | $4.6B | $7.5B | ||
| Q3 24 | $4.4B | $7.7B | ||
| Q2 24 | $4.4B | $3.0B |
净利润ARMKSW
| Q1 26 | $96.2M | — | ||
| Q4 25 | $87.1M | $97.0M | ||
| Q3 25 | — | $246.0M | ||
| Q2 25 | $71.8M | $-28.0M | ||
| Q1 25 | $61.9M | $384.0M | ||
| Q4 24 | $105.6M | $146.0M | ||
| Q3 24 | $122.4M | $-150.0M | ||
| Q2 24 | $58.1M | $132.0M |
毛利率ARMKSW
| Q1 26 | — | — | ||
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% |
营业利润率ARMKSW
| Q1 26 | 4.5% | — | ||
| Q4 25 | 4.3% | 5.1% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | 3.9% | 3.2% | ||
| Q1 25 | 4.1% | 7.2% | ||
| Q4 24 | 4.8% | 5.3% | ||
| Q3 24 | 5.0% | 0.7% | ||
| Q2 24 | 3.7% | 8.2% |
净利率ARMKSW
| Q1 26 | 2.0% | — | ||
| Q4 25 | 1.7% | 1.3% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | 1.6% | -0.4% | ||
| Q1 25 | 1.4% | 5.0% | ||
| Q4 24 | 2.3% | 1.9% | ||
| Q3 24 | 2.8% | -2.0% | ||
| Q2 24 | 1.3% | 4.4% |
每股收益（稀释后）ARMKSW
| Q1 26 | $0.36 | — | ||
| Q4 25 | $0.33 | $0.18 | ||
| Q3 25 | — | $0.47 | ||
| Q2 25 | $0.27 | $-0.05 | ||
| Q1 25 | $0.23 | $0.73 | ||
| Q4 24 | $0.39 | $-0.12 | ||
| Q3 24 | $0.46 | $-0.30 | ||
| Q2 24 | $0.22 | $0.51 |
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 | $892.0M |
| 总债务越低越好 | $6.2B | $13.4B |
| 股东权益账面价值 | $3.2B | $18.3B |
| 总资产 | $13.5B | $45.2B |
| 负债/权益比越低杠杆越低 | 1.94× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资ARMKSW
| Q1 26 | $439.6M | — | ||
| Q4 25 | $639.1M | $892.0M | ||
| Q3 25 | — | $851.0M | ||
| Q2 25 | $501.5M | $778.0M | ||
| Q1 25 | $920.5M | $797.0M | ||
| Q4 24 | $484.1M | $855.0M | ||
| Q3 24 | $672.5M | — | ||
| Q2 24 | $436.1M | $26.8K |
总债务ARMKSW
| Q1 26 | $6.2B | — | ||
| Q4 25 | $5.4B | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | $6.3B | $13.3B | ||
| Q1 25 | $6.1B | $12.9B | ||
| Q4 24 | $5.0B | $12.5B | ||
| Q3 24 | $4.3B | $13.2B | ||
| Q2 24 | $5.0B | — |
股东权益ARMKSW
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $18.3B | ||
| Q3 25 | — | $18.4B | ||
| Q2 25 | $3.1B | $18.3B | ||
| Q1 25 | $3.0B | $17.9B | ||
| Q4 24 | $3.1B | $17.4B | ||
| Q3 24 | $3.0B | $18.0B | ||
| Q2 24 | $2.9B | $14.5K |
总资产ARMKSW
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.3B | $45.2B | ||
| Q3 25 | — | $45.6B | ||
| Q2 25 | $13.3B | $45.7B | ||
| Q1 25 | $13.5B | $44.6B | ||
| Q4 24 | $12.7B | $43.8B | ||
| Q3 24 | $12.7B | $45.0B | ||
| Q2 24 | $12.5B | $26.8K |
负债/权益比ARMKSW
| Q1 26 | 1.94× | — | ||
| Q4 25 | 1.71× | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | 2.03× | 0.73× | ||
| Q1 25 | 2.02× | 0.72× | ||
| Q4 24 | 1.61× | 0.72× | ||
| Q3 24 | 1.42× | 0.73× | ||
| Q2 24 | 1.71× | — |
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 | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $-904.4M | $612.0M |
| 自由现金流率自由现金流/营收 | -18.7% | 8.1% |
| 资本支出强度资本支出/营收 | 2.5% | 7.7% |
| 现金转化率经营现金流/净利润 | -8.13× | 12.32× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流ARMKSW
| Q1 26 | $-782.2M | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | $76.7M | $829.0M | ||
| Q1 25 | $255.9M | $235.0M | ||
| Q4 24 | $-587.2M | $781.0M | ||
| Q3 24 | $1.0B | $320.0M | ||
| Q2 24 | $140.7M | $340.0M |
自由现金流ARMKSW
| Q1 26 | $-904.4M | — | ||
| Q4 25 | — | $612.0M | ||
| Q3 25 | — | $523.0M | ||
| Q2 25 | $-34.7M | $307.0M | ||
| Q1 25 | $140.1M | $-242.0M | ||
| Q4 24 | $-707.0M | $212.0M | ||
| Q3 24 | $882.3M | $-192.0M | ||
| Q2 24 | $55.6M | $163.0M |
自由现金流率ARMKSW
| Q1 26 | -18.7% | — | ||
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | -0.8% | 3.9% | ||
| Q1 25 | 3.3% | -3.2% | ||
| Q4 24 | -15.5% | 2.8% | ||
| Q3 24 | 20.0% | -2.5% | ||
| Q2 24 | 1.3% | 5.5% |
资本支出强度ARMKSW
| Q1 26 | 2.5% | — | ||
| Q4 25 | 2.8% | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | 2.4% | 6.6% | ||
| Q1 25 | 2.7% | 6.2% | ||
| Q4 24 | 2.6% | 7.5% | ||
| Q3 24 | 3.2% | 6.7% | ||
| Q2 24 | 1.9% | 6.0% |
现金转化率ARMKSW
| Q1 26 | -8.13× | — | ||
| Q4 25 | — | 12.32× | ||
| Q3 25 | — | 4.61× | ||
| Q2 25 | 1.07× | — | ||
| Q1 25 | 4.14× | 0.61× | ||
| Q4 24 | -5.56× | 5.35× | ||
| Q3 24 | 8.35× | — | ||
| Q2 24 | 2.42× | 2.58× |
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% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
