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亚什兰（ASH）与和黄医药（HCM）财务数据对比。点击上方公司名可切换其他公司
亚什兰的季度营收约是和黄医药的1.4倍（$386.0M vs $270.8M），和黄医药净利率更高（0.7% vs -3.1%，领先3.8%），亚什兰同比增速更快（-4.7% vs -16.5%），亚什兰自由现金流更多（$111.0M vs $3.4M）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
和黄医药是一家国际化生物制药企业，专注于肿瘤、免疫类疾病的靶向疗法与免疫疗法的研发、生产及商业化，核心市场覆盖中国及全球多个国家地区，已有多款肿瘤治疗药物上市，后期临床管线储备丰富。
ASH vs HCM — 直观对比
营收规模更大
ASH
是对方的1.4倍
$270.8M
营收增速更快
ASH
高出11.9%
-16.5%
净利率更高
HCM
高出3.8%
-3.1%
自由现金流更多
ASH
多$107.6M
$3.4M
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $270.8M |
| 净利润 | $-12.0M | $2.0M |
| 毛利率 | 27.2% | 37.7% |
| 营业利润率 | -1.6% | -13.2% |
| 净利率 | -3.1% | 0.7% |
| 营收同比 | -4.7% | -16.5% |
| 净利润同比 | 92.7% | -83.6% |
| 每股收益（稀释后） | $-0.26 | $0.00 |
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ASHHCM
| Q4 25 | $386.0M | $270.8M | ||
| Q3 25 | $477.0M | — | ||
| Q2 25 | $463.0M | $277.7M | ||
| Q1 25 | $479.0M | $324.5M | ||
| Q4 24 | $405.0M | — | ||
| Q3 24 | $521.0M | — | ||
| Q2 24 | $544.0M | $305.7M | ||
| Q1 24 | $575.0M | — |
净利润ASHHCM
| Q4 25 | $-12.0M | $2.0M | ||
| Q3 25 | $31.0M | — | ||
| Q2 25 | $-742.0M | $455.0M | ||
| Q1 25 | $31.0M | $11.9M | ||
| Q4 24 | $-165.0M | — | ||
| Q3 24 | $17.0M | — | ||
| Q2 24 | $6.0M | $25.8M | ||
| Q1 24 | $120.0M | — |
毛利率ASHHCM
| Q4 25 | 27.2% | 37.7% | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 28.5% | 0.1% | ||
| Q1 25 | 30.7% | 48.0% | ||
| Q4 24 | 27.4% | — | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 34.2% | 41.1% | ||
| Q1 24 | 28.0% | — |
营业利润率ASHHCM
| Q4 25 | -1.6% | -13.2% | ||
| Q3 25 | 12.8% | — | ||
| Q2 25 | -152.9% | -1.3% | ||
| Q1 25 | 10.6% | -5.0% | ||
| Q4 24 | -44.2% | — | ||
| Q3 24 | 6.1% | — | ||
| Q2 24 | -11.2% | -9.0% | ||
| Q1 24 | 3.7% | — |
净利率ASHHCM
| Q4 25 | -3.1% | 0.7% | ||
| Q3 25 | 6.5% | — | ||
| Q2 25 | -160.3% | 163.8% | ||
| Q1 25 | 6.5% | 3.7% | ||
| Q4 24 | -40.7% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 1.1% | 8.4% | ||
| Q1 24 | 20.9% | — |
每股收益（稀释后）ASHHCM
| Q4 25 | $-0.26 | $0.00 | ||
| Q3 25 | $0.83 | — | ||
| Q2 25 | $-16.21 | $0.52 | ||
| Q1 25 | $0.65 | $0.01 | ||
| Q4 24 | $-3.50 | — | ||
| Q3 24 | $0.34 | — | ||
| Q2 24 | $0.12 | $0.03 | ||
| Q1 24 | $2.39 | — |
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 | $304.0M | $1.4B |
| 总债务越低越好 | $1.4B | $93.2M |
| 股东权益账面价值 | $1.9B | $1.2B |
| 总资产 | $4.5B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.74× | 0.08× |
8季度趋势，按日历期对齐
现金及短期投资ASHHCM
| Q4 25 | $304.0M | $1.4B | ||
| Q3 25 | $215.0M | — | ||
| Q2 25 | $207.0M | $1.4B | ||
| Q1 25 | $168.0M | $836.1M | ||
| Q4 24 | $219.0M | — | ||
| Q3 24 | $300.0M | — | ||
| Q2 24 | $399.0M | $802.5M | ||
| Q1 24 | $439.0M | — |
总债务ASHHCM
| Q4 25 | $1.4B | $93.2M | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | $93.4M | ||
| Q1 25 | $1.3B | $82.8M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | $82.1M | ||
| Q1 24 | $1.3B | — |
股东权益ASHHCM
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $2.6B | $759.9M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $3.0B | $740.1M | ||
| Q1 24 | $3.1B | — |
总资产ASHHCM
| Q4 25 | $4.5B | $1.8B | ||
| Q3 25 | $4.6B | — | ||
| Q2 25 | $4.6B | $1.8B | ||
| Q1 25 | $5.2B | $1.3B | ||
| Q4 24 | $5.2B | — | ||
| Q3 24 | $5.6B | — | ||
| Q2 24 | $5.7B | $1.3B | ||
| Q1 24 | $5.9B | — |
负债/权益比ASHHCM
| Q4 25 | 0.74× | 0.08× | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | 0.08× | ||
| Q1 25 | 0.52× | 0.11× | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | 0.11× | ||
| Q1 24 | 0.42× | — |
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 | $125.0M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $3.4M |
| 自由现金流率自由现金流/营收 | 28.8% | 1.2% |
| 资本支出强度资本支出/营收 | 3.6% | 1.8% |
| 现金转化率经营现金流/净利润 | — | 4.21× |
| 过去12个月自由现金流最近4个季度 | $200.0M | $-96.2M |
8季度趋势，按日历期对齐
经营现金流ASHHCM
| Q4 25 | $125.0M | $8.2M | ||
| Q3 25 | $40.0M | — | ||
| Q2 25 | $115.0M | $-72.9M | ||
| Q1 25 | $9.0M | $40.3M | ||
| Q4 24 | $-30.0M | — | ||
| Q3 24 | $80.0M | — | ||
| Q2 24 | $127.0M | $-39.8M | ||
| Q1 24 | $54.0M | — |
自由现金流ASHHCM
| Q4 25 | $111.0M | $3.4M | ||
| Q3 25 | $6.0M | — | ||
| Q2 25 | $95.0M | $-82.2M | ||
| Q1 25 | $-12.0M | $32.5M | ||
| Q4 24 | $-53.0M | — | ||
| Q3 24 | $42.0M | — | ||
| Q2 24 | $98.0M | $-49.9M | ||
| Q1 24 | $20.0M | — |
自由现金流率ASHHCM
| Q4 25 | 28.8% | 1.2% | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 20.5% | -29.6% | ||
| Q1 25 | -2.5% | 10.0% | ||
| Q4 24 | -13.1% | — | ||
| Q3 24 | 8.1% | — | ||
| Q2 24 | 18.0% | -16.3% | ||
| Q1 24 | 3.5% | — |
资本支出强度ASHHCM
| Q4 25 | 3.6% | 1.8% | ||
| Q3 25 | 7.1% | — | ||
| Q2 25 | 4.3% | 3.3% | ||
| Q1 25 | 4.4% | 2.4% | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 7.3% | — | ||
| Q2 24 | 5.3% | 3.3% | ||
| Q1 24 | 5.9% | — |
现金转化率ASHHCM
| Q4 25 | — | 4.21× | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | -0.16× | ||
| Q1 25 | 0.29× | 3.38× | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.71× | — | ||
| Q2 24 | 21.17× | -1.54× | ||
| Q1 24 | 0.45× | — |
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
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
HCM
暂无分部数据
