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亚什兰（ASH）与Upstart Holdings, Inc.（UPST）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Upstart Holdings, Inc.的1.3倍（$386.0M vs $296.1M），Upstart Holdings, Inc.净利率更高（6.3% vs -3.1%，领先9.4%），Upstart Holdings, Inc.同比增速更快（35.2% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $108.4M），过去两年Upstart Holdings, Inc.的营收复合增速更高（52.2% 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。
Upstart是一家AI信贷平台服务商，与银行及信用合作社合作，将教育背景、就业情况等非传统指标纳入信用评估模型，更精准地预测借款人的信用状况，为用户提供消费贷款服务，助力金融机构提升信贷效率、扩大服务覆盖范围。
ASH vs UPST — 直观对比
营收规模更大
ASH
是对方的1.3倍
$296.1M
营收增速更快
UPST
高出39.9%
-4.7%
净利率更高
UPST
高出9.4%
-3.1%
自由现金流更多
ASH
多$2.6M
$108.4M
两年增速更快
UPST
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $296.1M |
| 净利润 | $-12.0M | $18.6M |
| 毛利率 | 27.2% | — |
| 营业利润率 | -1.6% | 6.4% |
| 净利率 | -3.1% | 6.3% |
| 营收同比 | -4.7% | 35.2% |
| 净利润同比 | 92.7% | 776.4% |
| 每股收益（稀释后） | $-0.26 | $0.20 |
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ASHUPST
| Q4 25 | $386.0M | $296.1M | ||
| Q3 25 | $477.0M | $277.1M | ||
| Q2 25 | $463.0M | $257.3M | ||
| Q1 25 | $479.0M | $213.4M | ||
| Q4 24 | $405.0M | $219.0M | ||
| Q3 24 | $521.0M | $162.1M | ||
| Q2 24 | $544.0M | $127.6M | ||
| Q1 24 | $575.0M | $127.8M |
净利润ASHUPST
| Q4 25 | $-12.0M | $18.6M | ||
| Q3 25 | $31.0M | $31.8M | ||
| Q2 25 | $-742.0M | $5.6M | ||
| Q1 25 | $31.0M | $-2.4M | ||
| Q4 24 | $-165.0M | $-2.8M | ||
| Q3 24 | $17.0M | $-6.8M | ||
| Q2 24 | $6.0M | $-54.5M | ||
| Q1 24 | $120.0M | $-64.6M |
毛利率ASHUPST
| Q4 25 | 27.2% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 30.7% | — | ||
| Q4 24 | 27.4% | — | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 34.2% | — | ||
| Q1 24 | 28.0% | — |
营业利润率ASHUPST
| Q4 25 | -1.6% | 6.4% | ||
| Q3 25 | 12.8% | 8.5% | ||
| Q2 25 | -152.9% | 1.8% | ||
| Q1 25 | 10.6% | -2.1% | ||
| Q4 24 | -44.2% | -2.2% | ||
| Q3 24 | 6.1% | -27.8% | ||
| Q2 24 | -11.2% | -43.5% | ||
| Q1 24 | 3.7% | -52.8% |
净利率ASHUPST
| Q4 25 | -3.1% | 6.3% | ||
| Q3 25 | 6.5% | 11.5% | ||
| Q2 25 | -160.3% | 2.2% | ||
| Q1 25 | 6.5% | -1.1% | ||
| Q4 24 | -40.7% | -1.3% | ||
| Q3 24 | 3.3% | -4.2% | ||
| Q2 24 | 1.1% | -42.7% | ||
| Q1 24 | 20.9% | -50.5% |
每股收益（稀释后）ASHUPST
| Q4 25 | $-0.26 | $0.20 | ||
| Q3 25 | $0.83 | $0.23 | ||
| Q2 25 | $-16.21 | $0.05 | ||
| Q1 25 | $0.65 | $-0.03 | ||
| Q4 24 | $-3.50 | $-0.01 | ||
| Q3 24 | $0.34 | $-0.07 | ||
| Q2 24 | $0.12 | $-0.62 | ||
| Q1 24 | $2.39 | $-0.74 |
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 | $652.4M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $1.9B | $798.8M |
| 总资产 | $4.5B | $3.0B |
| 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ASHUPST
| Q4 25 | $304.0M | $652.4M | ||
| Q3 25 | $215.0M | $489.8M | ||
| Q2 25 | $207.0M | $395.9M | ||
| Q1 25 | $168.0M | $599.8M | ||
| Q4 24 | $219.0M | $788.4M | ||
| Q3 24 | $300.0M | — | ||
| Q2 24 | $399.0M | — | ||
| Q1 24 | $439.0M | — |
总债务ASHUPST
| 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ASHUPST
| Q4 25 | $1.9B | $798.8M | ||
| Q3 25 | $1.9B | $743.7M | ||
| Q2 25 | $1.9B | $722.0M | ||
| Q1 25 | $2.6B | $676.6M | ||
| Q4 24 | $2.6B | $633.2M | ||
| Q3 24 | $2.9B | $595.5M | ||
| Q2 24 | $3.0B | $594.7M | ||
| Q1 24 | $3.1B | $612.8M |
总资产ASHUPST
| Q4 25 | $4.5B | $3.0B | ||
| Q3 25 | $4.6B | $2.9B | ||
| Q2 25 | $4.6B | $2.5B | ||
| Q1 25 | $5.2B | $2.3B | ||
| Q4 24 | $5.2B | $2.4B | ||
| Q3 24 | $5.6B | $1.8B | ||
| Q2 24 | $5.7B | $1.8B | ||
| Q1 24 | $5.9B | $1.9B |
负债/权益比ASHUPST
| 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 | $108.6M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $108.4M |
| 自由现金流率自由现金流/营收 | 28.8% | 36.6% |
| 资本支出强度资本支出/营收 | 3.6% | 0.1% |
| 现金转化率经营现金流/净利润 | — | 5.82× |
| 过去12个月自由现金流最近4个季度 | $200.0M | — |
8季度趋势，按日历期对齐
经营现金流ASHUPST
| Q4 25 | $125.0M | $108.6M | ||
| Q3 25 | $40.0M | $-122.6M | ||
| Q2 25 | $115.0M | $-120.2M | ||
| Q1 25 | $9.0M | $-13.5M | ||
| Q4 24 | $-30.0M | $-110.9M | ||
| Q3 24 | $80.0M | $179.3M | ||
| Q2 24 | $127.0M | $65.3M | ||
| Q1 24 | $54.0M | $52.6M |
自由现金流ASHUPST
| Q4 25 | $111.0M | $108.4M | ||
| Q3 25 | $6.0M | $-122.7M | ||
| Q2 25 | $95.0M | $-120.3M | ||
| Q1 25 | $-12.0M | — | ||
| Q4 24 | $-53.0M | — | ||
| Q3 24 | $42.0M | $179.2M | ||
| Q2 24 | $98.0M | $65.3M | ||
| Q1 24 | $20.0M | $51.9M |
自由现金流率ASHUPST
| Q4 25 | 28.8% | 36.6% | ||
| Q3 25 | 1.3% | -44.3% | ||
| Q2 25 | 20.5% | -46.7% | ||
| Q1 25 | -2.5% | — | ||
| Q4 24 | -13.1% | — | ||
| Q3 24 | 8.1% | 110.5% | ||
| Q2 24 | 18.0% | 51.1% | ||
| Q1 24 | 3.5% | 40.6% |
资本支出强度ASHUPST
| Q4 25 | 3.6% | 0.1% | ||
| Q3 25 | 7.1% | 0.0% | ||
| Q2 25 | 4.3% | 0.0% | ||
| Q1 25 | 4.4% | 0.0% | ||
| Q4 24 | 5.7% | 0.0% | ||
| Q3 24 | 7.3% | 0.1% | ||
| Q2 24 | 5.3% | 0.0% | ||
| Q1 24 | 5.9% | 0.5% |
现金转化率ASHUPST
| Q4 25 | — | 5.82× | ||
| Q3 25 | 1.29× | -3.86× | ||
| Q2 25 | — | -21.43× | ||
| Q1 25 | 0.29× | — | ||
| 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% |
UPST
| Personal Lending Segment | $201.4M | 68% |
| Servicing Fees Net | $39.5M | 13% |
| Servicing Fees | $27.5M | 9% |
| Other | $15.7M | 5% |
| Borrower Fees | $8.4M | 3% |
| Collection Agency Fees | $3.5M | 1% |
