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亚什兰（ASH）与STERLING INFRASTRUCTURE, INC.（STRL）财务数据对比。点击上方公司名可切换其他公司
STERLING INFRASTRUCTURE, INC.的季度营收约是亚什兰的2.0倍（$755.6M vs $386.0M），STERLING INFRASTRUCTURE, INC.净利率更高（11.6% vs -3.1%，领先14.7%），STERLING INFRASTRUCTURE, INC.同比增速更快（51.5% vs -4.7%），STERLING INFRASTRUCTURE, INC.自由现金流更多（$159.7M vs $111.0M），过去两年STERLING INFRASTRUCTURE, INC.的营收复合增速更高（31.0% 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。
本公司是总部位于印度马哈拉施特拉邦孟买的跨国工程总承包（EPC）企业，业务覆盖可再生能源、数据中心、柴油发电、机电水暖（MEP）服务等多个领域，已在全球三十余个国家交付项目，执行团队遍布亚洲、中东、非洲、欧洲及澳大利亚。
ASH vs STRL — 直观对比
营收规模更大
STRL
是对方的2.0倍
$386.0M
营收增速更快
STRL
高出56.2%
-4.7%
净利率更高
STRL
高出14.7%
-3.1%
自由现金流更多
STRL
多$48.7M
$111.0M
两年增速更快
STRL
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $755.6M |
| 净利润 | $-12.0M | $87.6M |
| 毛利率 | 27.2% | 21.7% |
| 营业利润率 | -1.6% | 15.9% |
| 净利率 | -3.1% | 11.6% |
| 营收同比 | -4.7% | 51.5% |
| 净利润同比 | 92.7% | -22.6% |
| 每股收益（稀释后） | $-0.26 | $2.82 |
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ASHSTRL
| Q4 25 | $386.0M | $755.6M | ||
| Q3 25 | $477.0M | $689.0M | ||
| Q2 25 | $463.0M | $614.5M | ||
| Q1 25 | $479.0M | $430.9M | ||
| Q4 24 | $405.0M | $498.8M | ||
| Q3 24 | $521.0M | $593.7M | ||
| Q2 24 | $544.0M | $582.8M | ||
| Q1 24 | $575.0M | $440.4M |
净利润ASHSTRL
| Q4 25 | $-12.0M | $87.6M | ||
| Q3 25 | $31.0M | $92.1M | ||
| Q2 25 | $-742.0M | $71.0M | ||
| Q1 25 | $31.0M | $39.5M | ||
| Q4 24 | $-165.0M | $113.2M | ||
| Q3 24 | $17.0M | $61.3M | ||
| Q2 24 | $6.0M | $51.9M | ||
| Q1 24 | $120.0M | $31.0M |
毛利率ASHSTRL
| Q4 25 | 27.2% | 21.7% | ||
| Q3 25 | 33.3% | 24.7% | ||
| Q2 25 | 28.5% | 23.3% | ||
| Q1 25 | 30.7% | 22.0% | ||
| Q4 24 | 27.4% | 21.4% | ||
| Q3 24 | 33.2% | 21.9% | ||
| Q2 24 | 34.2% | 19.3% | ||
| Q1 24 | 28.0% | 17.5% |
营业利润率ASHSTRL
| Q4 25 | -1.6% | 15.9% | ||
| Q3 25 | 12.8% | 18.2% | ||
| Q2 25 | -152.9% | 17.0% | ||
| Q1 25 | 10.6% | 13.0% | ||
| Q4 24 | -44.2% | 12.5% | ||
| Q3 24 | 6.1% | 14.7% | ||
| Q2 24 | -11.2% | 12.5% | ||
| Q1 24 | 3.7% | 9.6% |
净利率ASHSTRL
| Q4 25 | -3.1% | 11.6% | ||
| Q3 25 | 6.5% | 13.4% | ||
| Q2 25 | -160.3% | 11.6% | ||
| Q1 25 | 6.5% | 9.2% | ||
| Q4 24 | -40.7% | 22.7% | ||
| Q3 24 | 3.3% | 10.3% | ||
| Q2 24 | 1.1% | 8.9% | ||
| Q1 24 | 20.9% | 7.1% |
每股收益（稀释后）ASHSTRL
| Q4 25 | $-0.26 | $2.82 | ||
| Q3 25 | $0.83 | $2.97 | ||
| Q2 25 | $-16.21 | $2.31 | ||
| Q1 25 | $0.65 | $1.28 | ||
| Q4 24 | $-3.50 | $3.63 | ||
| Q3 24 | $0.34 | $1.97 | ||
| Q2 24 | $0.12 | $1.67 | ||
| Q1 24 | $2.39 | $1.00 |
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 | $390.7M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $1.9B | $1.1B |
| 总资产 | $4.5B | $2.6B |
| 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ASHSTRL
| Q4 25 | $304.0M | $390.7M | ||
| Q3 25 | $215.0M | $306.4M | ||
| Q2 25 | $207.0M | $699.4M | ||
| Q1 25 | $168.0M | $638.6M | ||
| Q4 24 | $219.0M | $664.2M | ||
| Q3 24 | $300.0M | $648.1M | ||
| Q2 24 | $399.0M | $540.0M | ||
| Q1 24 | $439.0M | $480.4M |
总债务ASHSTRL
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
股东权益ASHSTRL
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $1.9B | $1.1B | ||
| Q2 25 | $1.9B | $881.7M | ||
| Q1 25 | $2.6B | $805.4M | ||
| Q4 24 | $2.6B | $808.1M | ||
| Q3 24 | $2.9B | $716.5M | ||
| Q2 24 | $3.0B | $670.7M | ||
| Q1 24 | $3.1B | $644.6M |
总资产ASHSTRL
| Q4 25 | $4.5B | $2.6B | ||
| Q3 25 | $4.6B | $2.6B | ||
| Q2 25 | $4.6B | $2.2B | ||
| Q1 25 | $5.2B | $2.0B | ||
| Q4 24 | $5.2B | $2.0B | ||
| Q3 24 | $5.6B | $2.0B | ||
| Q2 24 | $5.7B | $2.0B | ||
| Q1 24 | $5.9B | $1.8B |
负债/权益比ASHSTRL
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | — | ||
| 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 | $186.1M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $159.7M |
| 自由现金流率自由现金流/营收 | 28.8% | 21.1% |
| 资本支出强度资本支出/营收 | 3.6% | 3.5% |
| 现金转化率经营现金流/净利润 | — | 2.12× |
| 过去12个月自由现金流最近4个季度 | $200.0M | $362.7M |
8季度趋势，按日历期对齐
经营现金流ASHSTRL
| Q4 25 | $125.0M | $186.1M | ||
| Q3 25 | $40.0M | $83.6M | ||
| Q2 25 | $115.0M | $85.4M | ||
| Q1 25 | $9.0M | $84.9M | ||
| Q4 24 | $-30.0M | $174.3M | ||
| Q3 24 | $80.0M | $152.3M | ||
| Q2 24 | $127.0M | $121.0M | ||
| Q1 24 | $54.0M | $49.6M |
自由现金流ASHSTRL
| Q4 25 | $111.0M | $159.7M | ||
| Q3 25 | $6.0M | $64.0M | ||
| Q2 25 | $95.0M | $72.1M | ||
| Q1 25 | $-12.0M | $67.0M | ||
| Q4 24 | $-53.0M | $158.6M | ||
| Q3 24 | $42.0M | $138.3M | ||
| Q2 24 | $98.0M | $92.1M | ||
| Q1 24 | $20.0M | $27.2M |
自由现金流率ASHSTRL
| Q4 25 | 28.8% | 21.1% | ||
| Q3 25 | 1.3% | 9.3% | ||
| Q2 25 | 20.5% | 11.7% | ||
| Q1 25 | -2.5% | 15.5% | ||
| Q4 24 | -13.1% | 31.8% | ||
| Q3 24 | 8.1% | 23.3% | ||
| Q2 24 | 18.0% | 15.8% | ||
| Q1 24 | 3.5% | 6.2% |
资本支出强度ASHSTRL
| Q4 25 | 3.6% | 3.5% | ||
| Q3 25 | 7.1% | 2.9% | ||
| Q2 25 | 4.3% | 2.2% | ||
| Q1 25 | 4.4% | 4.2% | ||
| Q4 24 | 5.7% | 3.1% | ||
| Q3 24 | 7.3% | 2.4% | ||
| Q2 24 | 5.3% | 5.0% | ||
| Q1 24 | 5.9% | 5.1% |
现金转化率ASHSTRL
| Q4 25 | — | 2.12× | ||
| Q3 25 | 1.29× | 0.91× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | 0.29× | 2.15× | ||
| Q4 24 | — | 1.54× | ||
| Q3 24 | 4.71× | 2.48× | ||
| Q2 24 | 21.17× | 2.33× | ||
| Q1 24 | 0.45× | 1.60× |
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% |
STRL
| Lump Sum | $464.9M | 62% |
| Heavy Highway | $99.6M | 13% |
| Residential Construction | $70.4M | 9% |
| Road And Highway Builders LLC | $52.4M | 7% |
| Other Revenue | $36.6M | 5% |
| Aviation | $16.6M | 2% |
| Commercial | $11.4M | 2% |
| Related Party | $600.0K | 0% |
