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ASSOCIATED BANC-CORP（ASB）与奥飞娱乐（MAX）财务数据对比。点击上方公司名可切换其他公司
ASSOCIATED BANC-CORP的季度营收约是奥飞娱乐的1.3倍（$383.0M vs $291.2M），ASSOCIATED BANC-CORP净利率更高（31.2% vs 10.8%，领先20.4%），过去两年奥飞娱乐的营收复合增速更高（51.6% vs 9.1%）
联合银行集团（Associated Banc-Corp）是美国区域性银行控股公司，总部位于威斯康星州格林贝，深耕美国中西部地区，主营零售银行、商业银行、商业地产贷款、私人银行及特色金融服务，在威斯康星州、伊利诺伊州、明尼苏达州设有220多个营业网点，覆盖100多个社区，还在印第安纳、密歇根等多州设有贷款办事处。
奥飞娱乐股份有限公司由蔡东青于1993年创立，是一家中国跨国综合企业集团，主营动漫、玩具、传媒资产与娱乐业务，2016年由原奥飞动漫更名而来。集团拥有国漫平台有妖气，还在美国设有影视公司奥飞影业，并宣布将在美国设立动漫业务部门。
ASB vs MAX — 直观对比
营收规模更大
ASB
是对方的1.3倍
$291.2M
净利率更高
ASB
高出20.4%
10.8%
两年增速更快
MAX
近两年复合增速
9.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $383.0M | $291.2M |
| 净利润 | $119.6M | $31.4M |
| 毛利率 | — | 15.4% |
| 营业利润率 | — | 7.7% |
| 净利率 | 31.2% | 10.8% |
| 营收同比 | — | -3.2% |
| 净利润同比 | 566.6% | 576.9% |
| 每股收益（稀释后） | $0.70 | $0.50 |
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ASBMAX
| Q1 26 | $383.0M | — | ||
| Q4 25 | $310.0M | $291.2M | ||
| Q3 25 | $305.2M | $306.5M | ||
| Q2 25 | $300.0M | $251.6M | ||
| Q1 25 | $285.9M | $264.3M | ||
| Q4 24 | $270.3M | $300.6M | ||
| Q3 24 | $329.7M | $259.1M | ||
| Q2 24 | $321.8M | $178.3M |
净利润ASBMAX
| Q1 26 | $119.6M | — | ||
| Q4 25 | $137.1M | $31.4M | ||
| Q3 25 | $124.7M | $14.9M | ||
| Q2 25 | $111.2M | $-18.7M | ||
| Q1 25 | $101.7M | $-1.9M | ||
| Q4 24 | $-161.6M | $4.6M | ||
| Q3 24 | $88.0M | $9.5M | ||
| Q2 24 | $115.6M | $3.6M |
毛利率ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.2% | ||
| Q2 25 | — | 15.0% | ||
| Q1 25 | — | 15.8% | ||
| Q4 24 | — | 16.3% | ||
| Q3 24 | — | 15.1% | ||
| Q2 24 | — | 17.8% |
营业利润率ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | 52.6% | 7.7% | ||
| Q3 25 | 50.5% | 6.4% | ||
| Q2 25 | 46.5% | -8.0% | ||
| Q1 25 | 42.3% | 0.0% | ||
| Q4 24 | -65.8% | 6.1% | ||
| Q3 24 | 32.8% | 6.0% | ||
| Q2 24 | 32.0% | 3.6% |
净利率ASBMAX
| Q1 26 | 31.2% | — | ||
| Q4 25 | 44.2% | 10.8% | ||
| Q3 25 | 40.9% | 4.9% | ||
| Q2 25 | 37.1% | -7.4% | ||
| Q1 25 | 35.6% | -0.7% | ||
| Q4 24 | -59.8% | 1.5% | ||
| Q3 24 | 26.7% | 3.7% | ||
| Q2 24 | 35.9% | 2.0% |
每股收益（稀释后）ASBMAX
| Q1 26 | $0.70 | — | ||
| Q4 25 | $0.80 | $0.50 | ||
| Q3 25 | $0.73 | $0.26 | ||
| Q2 25 | $0.65 | $-0.33 | ||
| Q1 25 | $0.59 | $-0.04 | ||
| Q4 24 | $-1.10 | $0.09 | ||
| Q3 24 | $0.56 | $0.17 | ||
| Q2 24 | $0.74 | $0.07 |
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 | — | $46.9M |
| 总债务越低越好 | — | $153.4M |
| 股东权益账面价值 | $5.0B | $4.2M |
| 总资产 | $45.6B | $383.8M |
| 负债/权益比越低杠杆越低 | — | 36.88× |
8季度趋势，按日历期对齐
现金及短期投资ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | — | $46.9M | ||
| Q3 25 | — | $38.8M | ||
| Q2 25 | — | $85.4M | ||
| Q1 25 | — | $63.6M | ||
| Q4 24 | — | $43.3M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | — | $28.7M |
总债务ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $153.4M | ||
| Q3 25 | $594.1M | $155.7M | ||
| Q2 25 | $593.5M | $158.0M | ||
| Q1 25 | $591.4M | $160.2M | ||
| Q4 24 | $1.4B | $162.4M | ||
| Q3 24 | $844.3M | $164.7M | ||
| Q2 24 | $536.1M | $166.9M |
股东权益ASBMAX
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $4.2M | ||
| Q3 25 | $4.9B | $-29.8M | ||
| Q2 25 | $4.8B | $-3.8M | ||
| Q1 25 | $4.7B | $7.9M | ||
| Q4 24 | $4.6B | $2.4M | ||
| Q3 24 | $4.4B | $-8.4M | ||
| Q2 24 | $4.2B | $-24.4M |
总资产ASBMAX
| Q1 26 | $45.6B | — | ||
| Q4 25 | $45.2B | $383.8M | ||
| Q3 25 | $44.5B | $266.2M | ||
| Q2 25 | $44.0B | $249.4M | ||
| Q1 25 | $43.3B | $240.0M | ||
| Q4 24 | $43.0B | $262.4M | ||
| Q3 24 | $42.2B | $236.1M | ||
| Q2 24 | $41.6B | $198.2M |
负债/权益比ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | 36.88× | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.13× | 20.23× | ||
| Q4 24 | 0.31× | 68.31× | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.13× | — |
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 | — | $-7.4M |
| 自由现金流经营现金流 - 资本支出 | — | $-7.5M |
| 自由现金流率自由现金流/营收 | — | -2.6% |
| 资本支出强度资本支出/营收 | — | 0.0% |
| 现金转化率经营现金流/净利润 | — | -0.24× |
| 过去12个月自由现金流最近4个季度 | — | $65.3M |
8季度趋势，按日历期对齐
经营现金流ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | $218.1M | $-7.4M | ||
| Q3 25 | $158.0M | $23.6M | ||
| Q2 25 | $141.5M | $25.7M | ||
| Q1 25 | $98.2M | $23.7M | ||
| Q4 24 | $207.1M | $14.5M | ||
| Q3 24 | $105.1M | $8.1M | ||
| Q2 24 | $113.5M | $21.6M |
自由现金流ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | — | $-7.5M | ||
| Q3 25 | — | $23.6M | ||
| Q2 25 | — | $25.5M | ||
| Q1 25 | — | $23.6M | ||
| Q4 24 | — | $14.5M | ||
| Q3 24 | — | $8.0M | ||
| Q2 24 | — | $21.5M |
自由现金流率ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | — | -2.6% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 10.2% | ||
| Q1 25 | — | 8.9% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | — | 3.1% | ||
| Q2 24 | — | 12.0% |
资本支出强度ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.1% |
现金转化率ASBMAX
| Q1 26 | — | — | ||
| Q4 25 | 1.59× | -0.24× | ||
| Q3 25 | 1.27× | 1.58× | ||
| Q2 25 | 1.27× | — | ||
| Q1 25 | 0.97× | — | ||
| Q4 24 | — | 3.13× | ||
| Q3 24 | 1.19× | 0.85× | ||
| Q2 24 | 0.98× | 5.97× |
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
ASB
| Net Interest Income | $307.2M | 80% |
| Noninterest Income | $75.9M | 20% |
MAX
| Property And Casualty Insurance | $264.8M | 91% |
| Health Insurance | $20.8M | 7% |
| Sales Channel Through Intermediary | $7.2M | 2% |
