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亚什兰（ASH）与Waystar Holding Corp.（WAY）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Waystar Holding Corp.的1.2倍（$386.0M vs $313.9M），Waystar Holding Corp.净利率更高（13.8% vs -3.1%，领先16.9%），Waystar Holding Corp.同比增速更快（22.4% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $90.3M），过去两年Waystar Holding Corp.的营收复合增速更高（15.7% 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。
Waystar Holding Corp是一家领先的医疗健康支付与营收周期管理解决方案提供商，服务覆盖美国各地的医疗机构、医疗系统和支付方，旗下工具可简化账单处理、理赔申请、患者缴费流程，帮助医疗机构降低行政负担、优化营收表现。
ASH vs WAY — 直观对比
营收规模更大
ASH
是对方的1.2倍
$313.9M
营收增速更快
WAY
高出27.1%
-4.7%
净利率更高
WAY
高出16.9%
-3.1%
自由现金流更多
ASH
多$20.7M
$90.3M
两年增速更快
WAY
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $313.9M |
| 净利润 | $-12.0M | $43.3M |
| 毛利率 | 27.2% | — |
| 营业利润率 | -1.6% | 25.6% |
| 净利率 | -3.1% | 13.8% |
| 营收同比 | -4.7% | 22.4% |
| 净利润同比 | 92.7% | 47.9% |
| 每股收益（稀释后） | $-0.26 | $0.42 |
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ASHWAY
| Q1 26 | — | $313.9M | ||
| Q4 25 | $386.0M | $303.5M | ||
| Q3 25 | $477.0M | $268.7M | ||
| Q2 25 | $463.0M | $270.7M | ||
| Q1 25 | $479.0M | $256.4M | ||
| Q4 24 | $405.0M | $244.1M | ||
| Q3 24 | $521.0M | $240.1M | ||
| Q2 24 | $544.0M | $234.5M |
净利润ASHWAY
| Q1 26 | — | $43.3M | ||
| Q4 25 | $-12.0M | $20.0M | ||
| Q3 25 | $31.0M | $30.6M | ||
| Q2 25 | $-742.0M | $32.2M | ||
| Q1 25 | $31.0M | $29.3M | ||
| Q4 24 | $-165.0M | $19.1M | ||
| Q3 24 | $17.0M | $5.4M | ||
| Q2 24 | $6.0M | $-27.7M |
毛利率ASHWAY
| Q1 26 | — | — | ||
| 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% | — |
营业利润率ASHWAY
| Q1 26 | — | 25.6% | ||
| Q4 25 | -1.6% | 19.4% | ||
| Q3 25 | 12.8% | 22.4% | ||
| Q2 25 | -152.9% | 24.0% | ||
| Q1 25 | 10.6% | 25.4% | ||
| Q4 24 | -44.2% | 21.8% | ||
| Q3 24 | 6.1% | 11.3% | ||
| Q2 24 | -11.2% | 3.5% |
净利率ASHWAY
| Q1 26 | — | 13.8% | ||
| Q4 25 | -3.1% | 6.6% | ||
| Q3 25 | 6.5% | 11.4% | ||
| Q2 25 | -160.3% | 11.9% | ||
| Q1 25 | 6.5% | 11.4% | ||
| Q4 24 | -40.7% | 7.8% | ||
| Q3 24 | 3.3% | 2.3% | ||
| Q2 24 | 1.1% | -11.8% |
每股收益（稀释后）ASHWAY
| Q1 26 | — | $0.42 | ||
| Q4 25 | $-0.26 | $0.10 | ||
| Q3 25 | $0.83 | $0.17 | ||
| Q2 25 | $-16.21 | $0.18 | ||
| Q1 25 | $0.65 | $0.16 | ||
| Q4 24 | $-3.50 | $0.18 | ||
| Q3 24 | $0.34 | $0.03 | ||
| Q2 24 | $0.12 | $-0.21 |
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 | $34.3M |
| 总债务越低越好 | $1.4B | $13.5M |
| 股东权益账面价值 | $1.9B | $3.9B |
| 总资产 | $4.5B | $5.8B |
| 负债/权益比越低杠杆越低 | 0.74× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ASHWAY
| Q1 26 | — | $34.3M | ||
| Q4 25 | $304.0M | $61.4M | ||
| Q3 25 | $215.0M | $421.1M | ||
| Q2 25 | $207.0M | $290.3M | ||
| Q1 25 | $168.0M | $224.0M | ||
| Q4 24 | $219.0M | $182.1M | ||
| Q3 24 | $300.0M | $127.1M | ||
| Q2 24 | $399.0M | $68.4M |
总债务ASHWAY
| Q1 26 | — | $13.5M | ||
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — |
股东权益ASHWAY
| Q1 26 | — | $3.9B | ||
| Q4 25 | $1.9B | $3.9B | ||
| Q3 25 | $1.9B | $3.2B | ||
| Q2 25 | $1.9B | $3.2B | ||
| Q1 25 | $2.6B | $3.1B | ||
| Q4 24 | $2.6B | $3.1B | ||
| Q3 24 | $2.9B | $3.1B | ||
| Q2 24 | $3.0B | $2.9B |
总资产ASHWAY
| Q1 26 | — | $5.8B | ||
| Q4 25 | $4.5B | $5.8B | ||
| Q3 25 | $4.6B | $4.7B | ||
| Q2 25 | $4.6B | $4.7B | ||
| Q1 25 | $5.2B | $4.6B | ||
| Q4 24 | $5.2B | $4.6B | ||
| Q3 24 | $5.6B | $4.5B | ||
| Q2 24 | $5.7B | $4.6B |
负债/权益比ASHWAY
| Q1 26 | — | 0.00× | ||
| Q4 25 | 0.74× | 0.38× | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.51× | 0.40× | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | — |
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 | $84.9M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $90.3M |
| 自由现金流率自由现金流/营收 | 28.8% | 28.8% |
| 资本支出强度资本支出/营收 | 3.6% | — |
| 现金转化率经营现金流/净利润 | — | 1.96× |
| 过去12个月自由现金流最近4个季度 | $200.0M | $314.6M |
8季度趋势，按日历期对齐
经营现金流ASHWAY
| Q1 26 | — | $84.9M | ||
| Q4 25 | $125.0M | $66.6M | ||
| Q3 25 | $40.0M | $82.0M | ||
| Q2 25 | $115.0M | $96.8M | ||
| Q1 25 | $9.0M | $64.2M | ||
| Q4 24 | $-30.0M | — | ||
| Q3 24 | $80.0M | $78.8M | ||
| Q2 24 | $127.0M | $15.4M |
自由现金流ASHWAY
| Q1 26 | — | $90.3M | ||
| Q4 25 | $111.0M | $57.2M | ||
| Q3 25 | $6.0M | $76.2M | ||
| Q2 25 | $95.0M | $91.0M | ||
| Q1 25 | $-12.0M | $58.8M | ||
| Q4 24 | $-53.0M | — | ||
| Q3 24 | $42.0M | $70.2M | ||
| Q2 24 | $98.0M | $8.6M |
自由现金流率ASHWAY
| Q1 26 | — | 28.8% | ||
| Q4 25 | 28.8% | 18.9% | ||
| Q3 25 | 1.3% | 28.3% | ||
| Q2 25 | 20.5% | 33.6% | ||
| Q1 25 | -2.5% | 22.9% | ||
| Q4 24 | -13.1% | — | ||
| Q3 24 | 8.1% | 29.2% | ||
| Q2 24 | 18.0% | 3.7% |
资本支出强度ASHWAY
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 3.1% | ||
| Q3 25 | 7.1% | 2.2% | ||
| Q2 25 | 4.3% | 2.1% | ||
| Q1 25 | 4.4% | 2.1% | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 7.3% | 3.6% | ||
| Q2 24 | 5.3% | 2.9% |
现金转化率ASHWAY
| Q1 26 | — | 1.96× | ||
| Q4 25 | — | 3.33× | ||
| Q3 25 | 1.29× | 2.68× | ||
| Q2 25 | — | 3.01× | ||
| Q1 25 | 0.29× | 2.20× | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.71× | 14.56× | ||
| Q2 24 | 21.17× | — |
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% |
WAY
| Subscription | $172.2M | 55% |
| Volume-based | $139.5M | 44% |
