vs
亚玛芬体育（AS）与GRAPHIC PACKAGING HOLDING CO（GPK）财务数据对比。点击上方公司名可切换其他公司
GRAPHIC PACKAGING HOLDING CO的季度营收约是亚玛芬体育的2.0倍（$2.1B vs $1.1B），GRAPHIC PACKAGING HOLDING CO净利率更高（3.4% vs 1.8%，领先1.6%）
亚玛芬体育是芬兰跨国运动装备企业，总部位于赫尔辛基，成立于1950年。早年为涉足烟草贸易、航运、出版等领域的多元化工业集团，后逐步转型专注于体育用品的生产与营销，现有员工超9700人，2018年起成为中国安踏体育旗下子公司。
Graphic Packaging Holding是总部位于美国佐治亚州亚特兰大的世界500强企业，专注于设计和生产商用产品包装解决方案，主营纸板及折叠纸盒业务，产品广泛应用于饮料、包装食品等各类热门消费品领域，在美国多州运营采用回收原料的纸板工厂。
AS vs GPK — 直观对比
营收规模更大
GPK
是对方的2.0倍
$1.1B
净利率更高
GPK
高出1.6%
1.8%
损益表 — Q1 FY2024 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $2.1B |
| 净利润 | $19.0M | $71.0M |
| 毛利率 | 52.8% | 14.1% |
| 营业利润率 | 12.4% | 7.4% |
| 净利率 | 1.8% | 3.4% |
| 营收同比 | — | 0.2% |
| 净利润同比 | — | -48.6% |
| 每股收益（稀释后） | $0.05 | $0.24 |
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ASGPK
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | $1.1B | $2.3B |
净利润ASGPK
| Q4 25 | — | $71.0M | ||
| Q3 25 | — | $142.0M | ||
| Q2 25 | — | $104.0M | ||
| Q1 25 | — | $127.0M | ||
| Q4 24 | — | $138.0M | ||
| Q3 24 | — | $165.0M | ||
| Q2 24 | — | $190.0M | ||
| Q1 24 | $19.0M | $165.0M |
毛利率ASGPK
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 18.7% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 21.2% | ||
| Q1 24 | 52.8% | 23.0% |
营业利润率ASGPK
| Q4 25 | — | 7.4% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 10.5% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 14.5% | ||
| Q1 24 | 12.4% | 12.4% |
净利率ASGPK
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 4.7% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | — | 7.5% | ||
| Q2 24 | — | 8.5% | ||
| Q1 24 | 1.8% | 7.3% |
每股收益（稀释后）ASGPK
| Q4 25 | — | $0.24 | ||
| Q3 25 | — | $0.48 | ||
| Q2 25 | — | $0.34 | ||
| Q1 25 | — | $0.42 | ||
| Q4 24 | — | $0.46 | ||
| Q3 24 | — | $0.55 | ||
| Q2 24 | — | $0.62 | ||
| Q1 24 | $0.05 | $0.53 |
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 | — | $261.0M |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | — | $3.3B |
| 总资产 | — | $11.8B |
| 负债/权益比越低杠杆越低 | — | 1.51× |
8季度趋势，按日历期对齐
现金及短期投资ASGPK
| Q4 25 | — | $261.0M | ||
| Q3 25 | — | $120.0M | ||
| Q2 25 | — | $120.0M | ||
| Q1 25 | — | $129.0M | ||
| Q4 24 | — | $157.0M | ||
| Q3 24 | — | $126.0M | ||
| Q2 24 | — | $125.0M | ||
| Q1 24 | — | $136.0M |
总债务ASGPK
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | $5.4B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $4.9B |
股东权益ASGPK
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.3B | ||
| Q2 25 | — | $3.2B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
总资产ASGPK
| Q4 25 | — | $11.8B | ||
| Q3 25 | — | $11.9B | ||
| Q2 25 | — | $11.8B | ||
| Q1 25 | — | $11.5B | ||
| Q4 24 | — | $11.1B | ||
| Q3 24 | — | $11.2B | ||
| Q2 24 | — | $10.8B | ||
| Q1 24 | — | $11.3B |
负债/权益比ASGPK
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 1.67× | ||
| Q2 25 | — | 1.68× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | — | 1.71× | ||
| Q3 24 | — | 1.79× | ||
| Q2 24 | — | 1.75× | ||
| Q1 24 | — | 1.73× |
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 | $114.3M | $521.0M |
| 自由现金流经营现金流 - 资本支出 | $92.2M | — |
| 自由现金流率自由现金流/营收 | 8.8% | — |
| 资本支出强度资本支出/营收 | 2.1% | — |
| 现金转化率经营现金流/净利润 | 6.02× | 7.34× |
| 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ASGPK
| Q4 25 | — | $521.0M | ||
| Q3 25 | — | $227.0M | ||
| Q2 25 | — | $267.0M | ||
| Q1 25 | — | $-174.0M | ||
| Q4 24 | — | $489.0M | ||
| Q3 24 | — | $187.0M | ||
| Q2 24 | — | $161.0M | ||
| Q1 24 | $114.3M | $3.0M |
自由现金流ASGPK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $92.2M | — |
自由现金流率ASGPK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.8% | — |
资本支出强度ASGPK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.1% | — |
现金转化率ASGPK
| Q4 25 | — | 7.34× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | — | 2.57× | ||
| Q1 25 | — | -1.37× | ||
| Q4 24 | — | 3.54× | ||
| Q3 24 | — | 1.13× | ||
| Q2 24 | — | 0.85× | ||
| Q1 24 | 6.02× | 0.02× |
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
AS
| Americas2 | $409.6M | 39% |
| EMEA1 | $356.9M | 34% |
| Greater China3 | $205.6M | 20% |
| Asia Pacific4 | $78.2M | 7% |
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
