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亚什兰（ASH）与Pagaya Technologies Ltd.（PGY）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Pagaya Technologies Ltd.的1.2倍（$386.0M vs $321.0M），Pagaya Technologies Ltd.净利率更高（10.7% vs -3.1%，领先13.8%），Pagaya Technologies Ltd.同比增速更快（16.5% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $76.7M），过去两年Pagaya Technologies Ltd.的营收复合增速更高（16.4% 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。
Pagaya Technologies是一家以纽约为总部的以美金融科技企业，专注于运用人工智能技术评估贷款申请，推动信贷审核流程现代化。该公司2022年于纽约证券交易所上市，截至2024年，已累计评估约2.6万亿美元规模的贷款申请，促成的贷款总额约达280亿美元，核心客户以银行等金融机构为主。
ASH vs PGY — 直观对比
营收规模更大
ASH
是对方的1.2倍
$321.0M
营收增速更快
PGY
高出21.1%
-4.7%
净利率更高
PGY
高出13.8%
-3.1%
自由现金流更多
ASH
多$34.3M
$76.7M
两年增速更快
PGY
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $321.0M |
| 净利润 | $-12.0M | $34.3M |
| 毛利率 | 27.2% | 40.8% |
| 营业利润率 | -1.6% | 24.8% |
| 净利率 | -3.1% | 10.7% |
| 营收同比 | -4.7% | 16.5% |
| 净利润同比 | 92.7% | 114.4% |
| 每股收益（稀释后） | $-0.26 | $0.40 |
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ASHPGY
| Q4 25 | $386.0M | $321.0M | ||
| Q3 25 | $477.0M | $339.9M | ||
| Q2 25 | $463.0M | $317.7M | ||
| Q1 25 | $479.0M | $282.7M | ||
| Q4 24 | $405.0M | $275.7M | ||
| Q3 24 | $521.0M | $249.3M | ||
| Q2 24 | $544.0M | $242.6M | ||
| Q1 24 | $575.0M | $237.0M |
净利润ASHPGY
| Q4 25 | $-12.0M | $34.3M | ||
| Q3 25 | $31.0M | $22.5M | ||
| Q2 25 | $-742.0M | $16.7M | ||
| Q1 25 | $31.0M | $7.9M | ||
| Q4 24 | $-165.0M | $-237.9M | ||
| Q3 24 | $17.0M | $-67.5M | ||
| Q2 24 | $6.0M | $-74.8M | ||
| Q1 24 | $120.0M | $-21.2M |
毛利率ASHPGY
| Q4 25 | 27.2% | 40.8% | ||
| Q3 25 | 33.3% | 41.0% | ||
| Q2 25 | 28.5% | 39.7% | ||
| Q1 25 | 30.7% | 40.9% | ||
| Q4 24 | 27.4% | 42.6% | ||
| Q3 24 | 33.2% | 40.2% | ||
| Q2 24 | 34.2% | 40.0% | ||
| Q1 24 | 28.0% | 38.9% |
营业利润率ASHPGY
| Q4 25 | -1.6% | 24.8% | ||
| Q3 25 | 12.8% | 23.5% | ||
| Q2 25 | -152.9% | 17.8% | ||
| Q1 25 | 10.6% | 16.9% | ||
| Q4 24 | -44.2% | 11.5% | ||
| Q3 24 | 6.1% | 9.0% | ||
| Q2 24 | -11.2% | 2.1% | ||
| Q1 24 | 3.7% | 3.2% |
净利率ASHPGY
| Q4 25 | -3.1% | 10.7% | ||
| Q3 25 | 6.5% | 6.6% | ||
| Q2 25 | -160.3% | 5.2% | ||
| Q1 25 | 6.5% | 2.8% | ||
| Q4 24 | -40.7% | -86.3% | ||
| Q3 24 | 3.3% | -27.1% | ||
| Q2 24 | 1.1% | -30.8% | ||
| Q1 24 | 20.9% | -9.0% |
每股收益（稀释后）ASHPGY
| Q4 25 | $-0.26 | $0.40 | ||
| Q3 25 | $0.83 | $0.23 | ||
| Q2 25 | $-16.21 | $0.20 | ||
| Q1 25 | $0.65 | $0.10 | ||
| Q4 24 | $-3.50 | $-3.36 | ||
| Q3 24 | $0.34 | $-0.93 | ||
| Q2 24 | $0.12 | $-1.04 | ||
| Q1 24 | $2.39 | $-0.33 |
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 | $235.3M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $1.9B | $480.0M |
| 总资产 | $4.5B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资ASHPGY
| Q4 25 | $304.0M | $235.3M | ||
| Q3 25 | $215.0M | $218.3M | ||
| Q2 25 | $207.0M | $183.0M | ||
| Q1 25 | $168.0M | $186.8M | ||
| Q4 24 | $219.0M | $187.9M | ||
| Q3 24 | $300.0M | $147.1M | ||
| Q2 24 | $399.0M | $233.6M | ||
| Q1 24 | $439.0M | $274.5M |
总债务ASHPGY
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | $317.9M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | $230.2M | ||
| Q2 24 | $1.3B | $232.6M | ||
| Q1 24 | $1.3B | $235.0M |
股东权益ASHPGY
| Q4 25 | $1.9B | $480.0M | ||
| Q3 25 | $1.9B | $438.3M | ||
| Q2 25 | $1.9B | $366.8M | ||
| Q1 25 | $2.6B | $335.5M | ||
| Q4 24 | $2.6B | $326.5M | ||
| Q3 24 | $2.9B | $462.3M | ||
| Q2 24 | $3.0B | $526.0M | ||
| Q1 24 | $3.1B | $626.8M |
总资产ASHPGY
| Q4 25 | $4.5B | $1.5B | ||
| Q3 25 | $4.6B | $1.5B | ||
| Q2 25 | $4.6B | $1.4B | ||
| Q1 25 | $5.2B | $1.3B | ||
| Q4 24 | $5.2B | $1.3B | ||
| Q3 24 | $5.6B | $1.4B | ||
| Q2 24 | $5.7B | $1.5B | ||
| Q1 24 | $5.9B | $1.5B |
负债/权益比ASHPGY
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.52× | 0.95× | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.47× | 0.50× | ||
| Q2 24 | 0.45× | 0.44× | ||
| Q1 24 | 0.42× | 0.37× |
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 | $79.8M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $76.7M |
| 自由现金流率自由现金流/营收 | 28.8% | 23.9% |
| 资本支出强度资本支出/营收 | 3.6% | 1.0% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | $200.0M | $224.7M |
8季度趋势，按日历期对齐
经营现金流ASHPGY
| Q4 25 | $125.0M | $79.8M | ||
| Q3 25 | $40.0M | $67.0M | ||
| Q2 25 | $115.0M | $57.4M | ||
| Q1 25 | $9.0M | $34.4M | ||
| Q4 24 | $-30.0M | $27.9M | ||
| Q3 24 | $80.0M | $-7.1M | ||
| Q2 24 | $127.0M | $9.3M | ||
| Q1 24 | $54.0M | $17.7M |
自由现金流ASHPGY
| Q4 25 | $111.0M | $76.7M | ||
| Q3 25 | $6.0M | $63.8M | ||
| Q2 25 | $95.0M | $53.5M | ||
| Q1 25 | $-12.0M | $30.7M | ||
| Q4 24 | $-53.0M | $23.9M | ||
| Q3 24 | $42.0M | $-11.3M | ||
| Q2 24 | $98.0M | $4.9M | ||
| Q1 24 | $20.0M | $12.6M |
自由现金流率ASHPGY
| Q4 25 | 28.8% | 23.9% | ||
| Q3 25 | 1.3% | 18.8% | ||
| Q2 25 | 20.5% | 16.9% | ||
| Q1 25 | -2.5% | 10.8% | ||
| Q4 24 | -13.1% | 8.7% | ||
| Q3 24 | 8.1% | -4.6% | ||
| Q2 24 | 18.0% | 2.0% | ||
| Q1 24 | 3.5% | 5.3% |
资本支出强度ASHPGY
| Q4 25 | 3.6% | 1.0% | ||
| Q3 25 | 7.1% | 1.0% | ||
| Q2 25 | 4.3% | 1.2% | ||
| Q1 25 | 4.4% | 1.3% | ||
| Q4 24 | 5.7% | 1.4% | ||
| Q3 24 | 7.3% | 1.7% | ||
| Q2 24 | 5.3% | 1.8% | ||
| Q1 24 | 5.9% | 2.2% |
现金转化率ASHPGY
| Q4 25 | — | 2.33× | ||
| Q3 25 | 1.29× | 2.97× | ||
| Q2 25 | — | 3.44× | ||
| Q1 25 | 0.29× | 4.36× | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.71× | — | ||
| Q2 24 | 21.17× | — | ||
| 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% |
PGY
| Network AI Fees | $287.4M | 90% |
| Financial Service | $33.6M | 10% |
