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亚什兰（ASH）与MSA Safety Inc（MSA）财务数据对比。点击上方公司名可切换其他公司
MSA Safety Inc的季度营收约是亚什兰的1.3倍（$510.9M vs $386.0M），MSA Safety Inc净利率更高（17.0% vs -3.1%，领先20.1%），MSA Safety Inc同比增速更快（2.2% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $106.0M），过去两年MSA Safety Inc的营收复合增速更高（11.2% vs -18.1%）
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。
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
ASH vs MSA — 直观对比
营收规模更大
MSA
是对方的1.3倍
$386.0M
营收增速更快
MSA
高出6.9%
-4.7%
净利率更高
MSA
高出20.1%
-3.1%
自由现金流更多
ASH
多$5.0M
$106.0M
两年增速更快
MSA
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $510.9M |
| 净利润 | $-12.0M | $86.9M |
| 毛利率 | 27.2% | 46.9% |
| 营业利润率 | -1.6% | 22.3% |
| 净利率 | -3.1% | 17.0% |
| 营收同比 | -4.7% | 2.2% |
| 净利润同比 | 92.7% | -1.2% |
| 每股收益（稀释后） | $-0.26 | $2.22 |
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ASHMSA
| Q4 25 | $386.0M | $510.9M | ||
| Q3 25 | $477.0M | $468.4M | ||
| Q2 25 | $463.0M | $474.1M | ||
| Q1 25 | $479.0M | $421.3M | ||
| Q4 24 | $405.0M | $499.7M | ||
| Q3 24 | $521.0M | $432.7M | ||
| Q2 24 | $544.0M | $462.5M | ||
| Q1 24 | $575.0M | $413.3M |
净利润ASHMSA
| Q4 25 | $-12.0M | $86.9M | ||
| Q3 25 | $31.0M | $69.6M | ||
| Q2 25 | $-742.0M | $62.8M | ||
| Q1 25 | $31.0M | $59.6M | ||
| Q4 24 | $-165.0M | $87.9M | ||
| Q3 24 | $17.0M | $66.6M | ||
| Q2 24 | $6.0M | $72.2M | ||
| Q1 24 | $120.0M | $58.1M |
毛利率ASHMSA
| Q4 25 | 27.2% | 46.9% | ||
| Q3 25 | 33.3% | 46.5% | ||
| Q2 25 | 28.5% | 46.6% | ||
| Q1 25 | 30.7% | 45.9% | ||
| Q4 24 | 27.4% | 46.9% | ||
| Q3 24 | 33.2% | 47.9% | ||
| Q2 24 | 34.2% | 48.2% | ||
| Q1 24 | 28.0% | 47.3% |
营业利润率ASHMSA
| Q4 25 | -1.6% | 22.3% | ||
| Q3 25 | 12.8% | 20.1% | ||
| Q2 25 | -152.9% | 18.1% | ||
| Q1 25 | 10.6% | 18.5% | ||
| Q4 24 | -44.2% | 23.5% | ||
| Q3 24 | 6.1% | 21.1% | ||
| Q2 24 | -11.2% | 21.6% | ||
| Q1 24 | 3.7% | 19.4% |
净利率ASHMSA
| Q4 25 | -3.1% | 17.0% | ||
| Q3 25 | 6.5% | 14.9% | ||
| Q2 25 | -160.3% | 13.2% | ||
| Q1 25 | 6.5% | 14.1% | ||
| Q4 24 | -40.7% | 17.6% | ||
| Q3 24 | 3.3% | 15.4% | ||
| Q2 24 | 1.1% | 15.6% | ||
| Q1 24 | 20.9% | 14.1% |
每股收益（稀释后）ASHMSA
| Q4 25 | $-0.26 | $2.22 | ||
| Q3 25 | $0.83 | $1.77 | ||
| Q2 25 | $-16.21 | $1.59 | ||
| Q1 25 | $0.65 | $1.51 | ||
| Q4 24 | $-3.50 | $2.22 | ||
| Q3 24 | $0.34 | $1.69 | ||
| Q2 24 | $0.12 | $1.83 | ||
| Q1 24 | $2.39 | $1.47 |
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 | $165.1M |
| 总债务越低越好 | $1.4B | $580.9M |
| 股东权益账面价值 | $1.9B | $1.4B |
| 总资产 | $4.5B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.74× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资ASHMSA
| Q4 25 | $304.0M | $165.1M | ||
| Q3 25 | $215.0M | $170.0M | ||
| Q2 25 | $207.0M | $147.0M | ||
| Q1 25 | $168.0M | $170.6M | ||
| Q4 24 | $219.0M | $164.6M | ||
| Q3 24 | $300.0M | $154.4M | ||
| Q2 24 | $399.0M | $146.8M | ||
| Q1 24 | $439.0M | $148.3M |
总债务ASHMSA
| Q4 25 | $1.4B | $580.9M | ||
| Q3 25 | $1.4B | $628.6M | ||
| Q2 25 | $1.4B | $679.3M | ||
| Q1 25 | $1.3B | $502.1M | ||
| Q4 24 | $1.3B | $508.0M | ||
| Q3 24 | $1.3B | $554.7M | ||
| Q2 24 | $1.3B | $588.2M | ||
| Q1 24 | $1.3B | $596.2M |
股东权益ASHMSA
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $2.6B | $1.2B | ||
| Q4 24 | $2.6B | $1.1B | ||
| Q3 24 | $2.9B | $1.1B | ||
| Q2 24 | $3.0B | $1.0B | ||
| Q1 24 | $3.1B | $994.8M |
总资产ASHMSA
| Q4 25 | $4.5B | $2.6B | ||
| Q3 25 | $4.6B | $2.6B | ||
| Q2 25 | $4.6B | $2.6B | ||
| Q1 25 | $5.2B | $2.2B | ||
| Q4 24 | $5.2B | $2.2B | ||
| Q3 24 | $5.6B | $2.2B | ||
| Q2 24 | $5.7B | $2.2B | ||
| Q1 24 | $5.9B | $2.2B |
负债/权益比ASHMSA
| Q4 25 | 0.74× | 0.42× | ||
| Q3 25 | 0.73× | 0.48× | ||
| Q2 25 | 0.73× | 0.54× | ||
| Q1 25 | 0.52× | 0.42× | ||
| Q4 24 | 0.51× | 0.44× | ||
| Q3 24 | 0.47× | 0.51× | ||
| Q2 24 | 0.45× | 0.57× | ||
| Q1 24 | 0.42× | 0.60× |
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 | $122.4M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $106.0M |
| 自由现金流率自由现金流/营收 | 28.8% | 20.8% |
| 资本支出强度资本支出/营收 | 3.6% | 3.2% |
| 现金转化率经营现金流/净利润 | — | 1.41× |
| 过去12个月自由现金流最近4个季度 | $200.0M | $295.4M |
8季度趋势，按日历期对齐
经营现金流ASHMSA
| Q4 25 | $125.0M | $122.4M | ||
| Q3 25 | $40.0M | $112.5M | ||
| Q2 25 | $115.0M | $67.2M | ||
| Q1 25 | $9.0M | $61.8M | ||
| Q4 24 | $-30.0M | $107.9M | ||
| Q3 24 | $80.0M | $84.3M | ||
| Q2 24 | $127.0M | $53.3M | ||
| Q1 24 | $54.0M | $50.9M |
自由现金流ASHMSA
| Q4 25 | $111.0M | $106.0M | ||
| Q3 25 | $6.0M | $100.5M | ||
| Q2 25 | $95.0M | $37.9M | ||
| Q1 25 | $-12.0M | $51.0M | ||
| Q4 24 | $-53.0M | $93.5M | ||
| Q3 24 | $42.0M | $70.1M | ||
| Q2 24 | $98.0M | $39.0M | ||
| Q1 24 | $20.0M | $39.7M |
自由现金流率ASHMSA
| Q4 25 | 28.8% | 20.8% | ||
| Q3 25 | 1.3% | 21.4% | ||
| Q2 25 | 20.5% | 8.0% | ||
| Q1 25 | -2.5% | 12.1% | ||
| Q4 24 | -13.1% | 18.7% | ||
| Q3 24 | 8.1% | 16.2% | ||
| Q2 24 | 18.0% | 8.4% | ||
| Q1 24 | 3.5% | 9.6% |
资本支出强度ASHMSA
| Q4 25 | 3.6% | 3.2% | ||
| Q3 25 | 7.1% | 2.6% | ||
| Q2 25 | 4.3% | 6.2% | ||
| Q1 25 | 4.4% | 2.6% | ||
| Q4 24 | 5.7% | 2.9% | ||
| Q3 24 | 7.3% | 3.3% | ||
| Q2 24 | 5.3% | 3.1% | ||
| Q1 24 | 5.9% | 2.7% |
现金转化率ASHMSA
| Q4 25 | — | 1.41× | ||
| Q3 25 | 1.29× | 1.62× | ||
| Q2 25 | — | 1.07× | ||
| Q1 25 | 0.29× | 1.04× | ||
| Q4 24 | — | 1.23× | ||
| Q3 24 | 4.71× | 1.27× | ||
| Q2 24 | 21.17× | 0.74× | ||
| Q1 24 | 0.45× | 0.88× |
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% |
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
