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亚什兰（ASH）与NATIONAL FUEL GAS CO（NFG）财务数据对比。点击上方公司名可切换其他公司
NATIONAL FUEL GAS CO的季度营收约是亚什兰的1.7倍（$637.9M vs $386.0M），NATIONAL FUEL GAS CO净利率更高（28.5% vs -3.1%，领先31.6%），NATIONAL FUEL GAS CO同比增速更快（24.1% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $-2.7M），过去两年NATIONAL FUEL GAS CO的营收复合增速更高（6.9% 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。
该多元化能源企业成立于1902年，总部位于美国纽约州威廉斯维尔，总资产达62亿美元，下设勘探与生产、管道与存储、燃气集输、公用事业、能源营销五大运营板块，业务覆盖能源产业链上下游多个核心环节。
ASH vs NFG — 直观对比
营收规模更大
NFG
是对方的1.7倍
$386.0M
营收增速更快
NFG
高出28.8%
-4.7%
净利率更高
NFG
高出31.6%
-3.1%
自由现金流更多
ASH
多$113.7M
$-2.7M
两年增速更快
NFG
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $637.9M |
| 净利润 | $-12.0M | $181.6M |
| 毛利率 | 27.2% | 86.6% |
| 营业利润率 | -1.6% | 43.3% |
| 净利率 | -3.1% | 28.5% |
| 营收同比 | -4.7% | 24.1% |
| 净利润同比 | 92.7% | 303.8% |
| 每股收益（稀释后） | $-0.26 | $1.98 |
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ASHNFG
| Q4 25 | $386.0M | $637.9M | ||
| Q3 25 | $477.0M | $443.1M | ||
| Q2 25 | $463.0M | $527.4M | ||
| Q1 25 | $479.0M | $734.8M | ||
| Q4 24 | $405.0M | $513.8M | ||
| Q3 24 | $521.0M | $310.0M | ||
| Q2 24 | $544.0M | $338.6M | ||
| Q1 24 | $575.0M | $558.7M |
净利润ASHNFG
| Q4 25 | $-12.0M | $181.6M | ||
| Q3 25 | $31.0M | $107.3M | ||
| Q2 25 | $-742.0M | $149.8M | ||
| Q1 25 | $31.0M | $216.4M | ||
| Q4 24 | $-165.0M | $45.0M | ||
| Q3 24 | $17.0M | $-167.6M | ||
| Q2 24 | $6.0M | $-54.2M | ||
| Q1 24 | $120.0M | $166.3M |
毛利率ASHNFG
| Q4 25 | 27.2% | 86.6% | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 28.5% | 94.7% | ||
| Q1 25 | 30.7% | 81.6% | ||
| Q4 24 | 27.4% | 87.3% | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 34.2% | 98.5% | ||
| Q1 24 | 28.0% | 81.0% |
营业利润率ASHNFG
| Q4 25 | -1.6% | 43.3% | ||
| Q3 25 | 12.8% | 40.6% | ||
| Q2 25 | -152.9% | 43.7% | ||
| Q1 25 | 10.6% | 43.2% | ||
| Q4 24 | -44.2% | 16.8% | ||
| Q3 24 | 6.1% | -63.4% | ||
| Q2 24 | -11.2% | -15.2% | ||
| Q1 24 | 3.7% | 44.9% |
净利率ASHNFG
| Q4 25 | -3.1% | 28.5% | ||
| Q3 25 | 6.5% | 24.2% | ||
| Q2 25 | -160.3% | 28.4% | ||
| Q1 25 | 6.5% | 29.4% | ||
| Q4 24 | -40.7% | 8.8% | ||
| Q3 24 | 3.3% | -54.1% | ||
| Q2 24 | 1.1% | -16.0% | ||
| Q1 24 | 20.9% | 29.8% |
每股收益（稀释后）ASHNFG
| Q4 25 | $-0.26 | $1.98 | ||
| Q3 25 | $0.83 | $1.18 | ||
| Q2 25 | $-16.21 | $1.64 | ||
| Q1 25 | $0.65 | $2.37 | ||
| Q4 24 | $-3.50 | $0.49 | ||
| Q3 24 | $0.34 | $-1.81 | ||
| Q2 24 | $0.12 | $-0.59 | ||
| Q1 24 | $2.39 | $1.80 |
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 | $271.4M |
| 总债务越低越好 | $1.4B | $2.7B |
| 股东权益账面价值 | $1.9B | $3.6B |
| 总资产 | $4.5B | $9.2B |
| 负债/权益比越低杠杆越低 | 0.74× | 0.75× |
8季度趋势，按日历期对齐
现金及短期投资ASHNFG
| Q4 25 | $304.0M | $271.4M | ||
| Q3 25 | $215.0M | $43.2M | ||
| Q2 25 | $207.0M | $39.3M | ||
| Q1 25 | $168.0M | $40.0M | ||
| Q4 24 | $219.0M | $48.7M | ||
| Q3 24 | $300.0M | $38.2M | ||
| Q2 24 | $399.0M | $81.4M | ||
| Q1 24 | $439.0M | $50.8M |
总债务ASHNFG
| Q4 25 | $1.4B | $2.7B | ||
| Q3 25 | $1.4B | $2.7B | ||
| Q2 25 | $1.4B | $2.7B | ||
| Q1 25 | $1.3B | $2.7B | ||
| Q4 24 | $1.3B | $2.7B | ||
| Q3 24 | $1.3B | $2.7B | ||
| Q2 24 | $1.3B | $2.7B | ||
| Q1 24 | $1.3B | $2.4B |
股东权益ASHNFG
| Q4 25 | $1.9B | $3.6B | ||
| Q3 25 | $1.9B | $3.1B | ||
| Q2 25 | $1.9B | $3.0B | ||
| Q1 25 | $2.6B | $2.8B | ||
| Q4 24 | $2.6B | $-76.2M | ||
| Q3 24 | $2.9B | $-15.5M | ||
| Q2 24 | $3.0B | $5.0M | ||
| Q1 24 | $3.1B | $75.3M |
总资产ASHNFG
| Q4 25 | $4.5B | $9.2B | ||
| Q3 25 | $4.6B | $8.7B | ||
| Q2 25 | $4.6B | $8.4B | ||
| Q1 25 | $5.2B | $8.5B | ||
| Q4 24 | $5.2B | $8.3B | ||
| Q3 24 | $5.6B | $8.3B | ||
| Q2 24 | $5.7B | $8.5B | ||
| Q1 24 | $5.9B | $8.7B |
负债/权益比ASHNFG
| Q4 25 | 0.74× | 0.75× | ||
| Q3 25 | 0.73× | 0.87× | ||
| Q2 25 | 0.73× | 0.90× | ||
| Q1 25 | 0.52× | 0.99× | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | 532.10× | ||
| Q1 24 | 0.42× | 31.68× |
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 | $274.9M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $-2.7M |
| 自由现金流率自由现金流/营收 | 28.8% | -0.4% |
| 资本支出强度资本支出/营收 | 3.6% | 43.5% |
| 现金转化率经营现金流/净利润 | — | 1.51× |
| 过去12个月自由现金流最近4个季度 | $200.0M | $204.8M |
8季度趋势，按日历期对齐
经营现金流ASHNFG
| Q4 25 | $125.0M | $274.9M | ||
| Q3 25 | $40.0M | $237.8M | ||
| Q2 25 | $115.0M | $388.4M | ||
| Q1 25 | $9.0M | $253.8M | ||
| Q4 24 | $-30.0M | $220.1M | ||
| Q3 24 | $80.0M | $197.9M | ||
| Q2 24 | $127.0M | $281.8M | ||
| Q1 24 | $54.0M | $315.3M |
自由现金流ASHNFG
| Q4 25 | $111.0M | $-2.7M | ||
| Q3 25 | $6.0M | $-47.8M | ||
| Q2 25 | $95.0M | $195.3M | ||
| Q1 25 | $-12.0M | $59.9M | ||
| Q4 24 | $-53.0M | $-20.3M | ||
| Q3 24 | $42.0M | $-49.1M | ||
| Q2 24 | $98.0M | $79.5M | ||
| Q1 24 | $20.0M | $80.3M |
自由现金流率ASHNFG
| Q4 25 | 28.8% | -0.4% | ||
| Q3 25 | 1.3% | -10.8% | ||
| Q2 25 | 20.5% | 37.0% | ||
| Q1 25 | -2.5% | 8.2% | ||
| Q4 24 | -13.1% | -4.0% | ||
| Q3 24 | 8.1% | -15.8% | ||
| Q2 24 | 18.0% | 23.5% | ||
| Q1 24 | 3.5% | 14.4% |
资本支出强度ASHNFG
| Q4 25 | 3.6% | 43.5% | ||
| Q3 25 | 7.1% | 64.4% | ||
| Q2 25 | 4.3% | 36.6% | ||
| Q1 25 | 4.4% | 26.4% | ||
| Q4 24 | 5.7% | 46.8% | ||
| Q3 24 | 7.3% | 79.7% | ||
| Q2 24 | 5.3% | 59.7% | ||
| Q1 24 | 5.9% | 42.1% |
现金转化率ASHNFG
| Q4 25 | — | 1.51× | ||
| Q3 25 | 1.29× | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | 0.29× | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | 4.71× | — | ||
| Q2 24 | 21.17× | — | ||
| Q1 24 | 0.45× | 1.90× |
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% |
NFG
| Natural Gas Production | $302.5M | 47% |
| Natural Gas Residential Sales | $198.0M | 31% |
| Pipeline And Storage | $69.2M | 11% |
| Natural Gas Commercial Sales | $27.9M | 4% |
| Natural Gas Storage | $25.1M | 4% |
| Other | $4.1M | 1% |
| Natural Gas Midstream | $2.8M | 0% |
