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ASSOCIATED BANC-CORP（ASB）与RAYONIER ADVANCED MATERIALS INC.（RYAM）财务数据对比。点击上方公司名可切换其他公司
RAYONIER ADVANCED MATERIALS INC.的季度营收约是ASSOCIATED BANC-CORP的1.1倍（$417.5M vs $383.0M），ASSOCIATED BANC-CORP净利率更高（31.2% vs -5.0%，领先36.3%），过去两年ASSOCIATED BANC-CORP的营收复合增速更高（9.1% vs 3.8%）
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。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
ASB vs RYAM — 直观对比
营收规模更大
RYAM
是对方的1.1倍
$383.0M
净利率更高
ASB
高出36.3%
-5.0%
两年增速更快
ASB
近两年复合增速
3.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $383.0M | $417.5M |
| 净利润 | $119.6M | $-21.1M |
| 毛利率 | — | 8.9% |
| 营业利润率 | — | 2.6% |
| 净利率 | 31.2% | -5.0% |
| 营收同比 | — | -1.2% |
| 净利润同比 | 566.6% | -31.9% |
| 每股收益（稀释后） | $0.70 | $-0.33 |
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ASBRYAM
| Q1 26 | $383.0M | — | ||
| Q4 25 | $310.0M | $417.5M | ||
| Q3 25 | $305.2M | $352.8M | ||
| Q2 25 | $300.0M | $340.0M | ||
| Q1 25 | $285.9M | $356.0M | ||
| Q4 24 | $270.3M | $422.5M | ||
| Q3 24 | $329.7M | $401.1M | ||
| Q2 24 | $321.8M | $419.0M |
净利润ASBRYAM
| Q1 26 | $119.6M | — | ||
| Q4 25 | $137.1M | $-21.1M | ||
| Q3 25 | $124.7M | $-4.5M | ||
| Q2 25 | $111.2M | $-363.2M | ||
| Q1 25 | $101.7M | $-32.0M | ||
| Q4 24 | $-161.6M | $-16.0M | ||
| Q3 24 | $88.0M | $-32.6M | ||
| Q2 24 | $115.6M | $11.4M |
毛利率ASBRYAM
| Q1 26 | — | — | ||
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 10.9% | ||
| Q2 24 | — | 11.5% |
营业利润率ASBRYAM
| Q1 26 | — | — | ||
| Q4 25 | 52.6% | 2.6% | ||
| Q3 25 | 50.5% | 2.8% | ||
| Q2 25 | 46.5% | -0.4% | ||
| Q1 25 | 42.3% | -4.2% | ||
| Q4 24 | -65.8% | 2.6% | ||
| Q3 24 | 32.8% | -4.2% | ||
| Q2 24 | 32.0% | 6.7% |
净利率ASBRYAM
| Q1 26 | 31.2% | — | ||
| Q4 25 | 44.2% | -5.0% | ||
| Q3 25 | 40.9% | -1.3% | ||
| Q2 25 | 37.1% | -106.8% | ||
| Q1 25 | 35.6% | -9.0% | ||
| Q4 24 | -59.8% | -3.8% | ||
| Q3 24 | 26.7% | -8.1% | ||
| Q2 24 | 35.9% | 2.7% |
每股收益（稀释后）ASBRYAM
| Q1 26 | $0.70 | — | ||
| Q4 25 | $0.80 | $-0.33 | ||
| Q3 25 | $0.73 | $-0.07 | ||
| Q2 25 | $0.65 | $-5.44 | ||
| Q1 25 | $0.59 | $-0.49 | ||
| Q4 24 | $-1.10 | $-0.25 | ||
| Q3 24 | $0.56 | $-0.49 | ||
| Q2 24 | $0.74 | $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 | — | $75.4M |
| 总债务越低越好 | — | $758.1M |
| 股东权益账面价值 | $5.0B | $316.6M |
| 总资产 | $45.6B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资ASBRYAM
| Q1 26 | — | — | ||
| Q4 25 | — | $75.4M | ||
| Q3 25 | — | $77.0M | ||
| Q2 25 | — | $70.7M | ||
| Q1 25 | — | $129.9M | ||
| Q4 24 | — | $125.2M | ||
| Q3 24 | — | $136.1M | ||
| Q2 24 | — | $114.1M |
总债务ASBRYAM
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $758.1M | ||
| Q3 25 | $594.1M | $763.5M | ||
| Q2 25 | $593.5M | $720.4M | ||
| Q1 25 | $591.4M | $707.0M | ||
| Q4 24 | $1.4B | $706.4M | ||
| Q3 24 | $844.3M | $747.7M | ||
| Q2 24 | $536.1M | $752.8M |
股东权益ASBRYAM
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $316.6M | ||
| Q3 25 | $4.9B | $338.2M | ||
| Q2 25 | $4.8B | $342.3M | ||
| Q1 25 | $4.7B | $688.1M | ||
| Q4 24 | $4.6B | $713.9M | ||
| Q3 24 | $4.4B | $732.7M | ||
| Q2 24 | $4.2B | $755.1M |
总资产ASBRYAM
| Q1 26 | $45.6B | — | ||
| Q4 25 | $45.2B | $1.8B | ||
| Q3 25 | $44.5B | $1.8B | ||
| Q2 25 | $44.0B | $1.8B | ||
| Q1 25 | $43.3B | $2.1B | ||
| Q4 24 | $43.0B | $2.1B | ||
| Q3 24 | $42.2B | $2.2B | ||
| Q2 24 | $41.6B | $2.2B |
负债/权益比ASBRYAM
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | 2.39× | ||
| Q3 25 | 0.12× | 2.26× | ||
| Q2 25 | 0.12× | 2.10× | ||
| Q1 25 | 0.13× | 1.03× | ||
| Q4 24 | 0.31× | 0.99× | ||
| Q3 24 | 0.19× | 1.02× | ||
| Q2 24 | 0.13× | 1.00× |
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 | — | $32.3M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 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ASBRYAM
| Q1 26 | — | — | ||
| Q4 25 | $218.1M | $32.3M | ||
| Q3 25 | $158.0M | $-17.8M | ||
| Q2 25 | $141.5M | $-30.2M | ||
| Q1 25 | $98.2M | $39.6M | ||
| Q4 24 | $207.1M | $54.9M | ||
| Q3 24 | $105.1M | $49.8M | ||
| Q2 24 | $113.5M | $87.6M |
现金转化率ASBRYAM
| Q1 26 | — | — | ||
| Q4 25 | 1.59× | — | ||
| Q3 25 | 1.27× | — | ||
| Q2 25 | 1.27× | — | ||
| Q1 25 | 0.97× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | 0.98× | 7.69× |
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% |
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
