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Athene Holding Ltd.（ATHS）与Steel Dynamics（STLD）财务数据对比。点击上方公司名可切换其他公司
Athene Holding Ltd.的季度营收约是Steel Dynamics的1.6倍（$8.1B vs $5.2B），Steel Dynamics净利率更高（7.7% vs 6.4%，领先1.3%），Athene Holding Ltd.同比增速更快（115.1% vs 17.9%），过去两年Athene Holding Ltd.的营收复合增速更高（19.2% vs 6.0%）
Athene Holding Ltd.是一家领先的退休服务提供商，主要面向美国市场的个人消费者及机构客户提供固定年金、指数年金、可变年金及定制退休储蓄解决方案，帮助客户实现退休后的长期财务稳定。
Steel Dynamics是总部位于美国印第安纳州韦恩堡的钢铁生产企业，钢铁产能达1300万吨，为美国第三大碳钢产品生产商，按利润率及每吨运营利润率计算属于美国盈利能力最强的钢企之一，凭借2021年营收位列2022年财富美国500强第196位。
ATHS vs STLD — 直观对比
营收规模更大
ATHS
是对方的1.6倍
$5.2B
营收增速更快
ATHS
高出97.2%
17.9%
净利率更高
STLD
高出1.3%
6.4%
两年增速更快
ATHS
近两年复合增速
6.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.1B | $5.2B |
| 净利润 | $523.0M | $400.1M |
| 毛利率 | — | 14.7% |
| 营业利润率 | 16.9% | 10.3% |
| 净利率 | 6.4% | 7.7% |
| 营收同比 | 115.1% | 17.9% |
| 净利润同比 | -48.5% | 51.3% |
| 每股收益（稀释后） | — | $2.78 |
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ATHSSTLD
| Q1 26 | — | $5.2B | ||
| Q4 25 | $8.1B | $4.4B | ||
| Q3 25 | $8.0B | $4.8B | ||
| Q2 25 | $5.4B | $4.6B | ||
| Q1 25 | $4.2B | $4.4B | ||
| Q4 24 | $3.8B | $3.9B | ||
| Q3 24 | $6.5B | $4.3B | ||
| Q2 24 | $4.7B | $4.6B |
净利润ATHSSTLD
| Q1 26 | — | $400.1M | ||
| Q4 25 | $523.0M | $266.0M | ||
| Q3 25 | $1.3B | $403.7M | ||
| Q2 25 | $464.0M | $298.7M | ||
| Q1 25 | $465.0M | $217.2M | ||
| Q4 24 | $1.0B | $207.3M | ||
| Q3 24 | $625.0M | $317.8M | ||
| Q2 24 | $629.0M | $428.0M |
毛利率ATHSSTLD
| Q1 26 | — | 14.7% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 15.7% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 16.7% |
营业利润率ATHSSTLD
| Q1 26 | — | 10.3% | ||
| Q4 25 | 16.9% | 7.0% | ||
| Q3 25 | 26.8% | 10.5% | ||
| Q2 25 | 12.2% | 8.4% | ||
| Q1 25 | 22.3% | 6.3% | ||
| Q4 24 | 30.4% | 6.1% | ||
| Q3 24 | 25.7% | 9.1% | ||
| Q2 24 | 22.0% | 12.1% |
净利率ATHSSTLD
| Q1 26 | — | 7.7% | ||
| Q4 25 | 6.4% | 6.0% | ||
| Q3 25 | 15.7% | 8.4% | ||
| Q2 25 | 8.7% | 6.5% | ||
| Q1 25 | 11.1% | 5.0% | ||
| Q4 24 | 26.8% | 5.4% | ||
| Q3 24 | 9.6% | 7.3% | ||
| Q2 24 | 13.5% | 9.2% |
每股收益（稀释后）ATHSSTLD
| Q1 26 | — | $2.78 | ||
| Q4 25 | — | $1.80 | ||
| Q3 25 | — | $2.74 | ||
| Q2 25 | — | $2.01 | ||
| Q1 25 | — | $1.44 | ||
| Q4 24 | — | $1.40 | ||
| Q3 24 | — | $2.05 | ||
| Q2 24 | — | $2.72 |
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 | — | $556.5M |
| 总债务越低越好 | $7.8B | $4.2B |
| 股东权益账面价值 | $20.5B | $9.0B |
| 总资产 | $442.2B | $16.7B |
| 负债/权益比越低杠杆越低 | 0.38× | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资ATHSSTLD
| Q1 26 | — | $556.5M | ||
| Q4 25 | — | $769.9M | ||
| Q3 25 | — | $770.4M | ||
| Q2 25 | — | $497.6M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $737.3M | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.2B |
总债务ATHSSTLD
| Q1 26 | — | $4.2B | ||
| Q4 25 | $7.8B | $4.2B | ||
| Q3 25 | $7.9B | $3.8B | ||
| Q2 25 | $7.9B | $3.8B | ||
| Q1 25 | $6.3B | $4.2B | ||
| Q4 24 | $6.3B | $3.2B | ||
| Q3 24 | $5.7B | $3.7B | ||
| Q2 24 | $5.7B | $3.1B |
股东权益ATHSSTLD
| Q1 26 | — | $9.0B | ||
| Q4 25 | $20.5B | $9.0B | ||
| Q3 25 | $20.4B | $9.0B | ||
| Q2 25 | $18.1B | $8.9B | ||
| Q1 25 | $17.5B | $8.8B | ||
| Q4 24 | $16.4B | $8.9B | ||
| Q3 24 | $17.4B | $9.1B | ||
| Q2 24 | $15.0B | $9.1B |
总资产ATHSSTLD
| Q1 26 | — | $16.7B | ||
| Q4 25 | $442.2B | $16.4B | ||
| Q3 25 | $429.9B | $16.0B | ||
| Q2 25 | $405.3B | $15.5B | ||
| Q1 25 | $381.5B | $15.9B | ||
| Q4 24 | $363.3B | $14.9B | ||
| Q3 24 | $355.0B | $15.7B | ||
| Q2 24 | $332.6B | $15.1B |
负债/权益比ATHSSTLD
| Q1 26 | — | 0.47× | ||
| Q4 25 | 0.38× | 0.47× | ||
| Q3 25 | 0.38× | 0.42× | ||
| Q2 25 | 0.43× | 0.43× | ||
| Q1 25 | 0.36× | 0.48× | ||
| Q4 24 | 0.39× | 0.36× | ||
| Q3 24 | 0.33× | 0.41× | ||
| Q2 24 | 0.38× | 0.34× |
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 | $3.0B | $148.3M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 5.82× | 0.37× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ATHSSTLD
| Q1 26 | — | $148.3M | ||
| Q4 25 | $3.0B | $272.7M | ||
| Q3 25 | $636.0M | $722.6M | ||
| Q2 25 | $1.1B | $301.6M | ||
| Q1 25 | $426.0M | $152.6M | ||
| Q4 24 | $386.0M | $346.9M | ||
| Q3 24 | $780.0M | $759.9M | ||
| Q2 24 | $525.0M | $382.6M |
自由现金流ATHSSTLD
| Q1 26 | — | — | ||
| Q4 25 | — | $84.2M | ||
| Q3 25 | — | $556.9M | ||
| Q2 25 | — | $13.3M | ||
| Q1 25 | — | $-152.9M | ||
| Q4 24 | — | $-106.3M | ||
| Q3 24 | — | $138.5M | ||
| Q2 24 | — | $-36.6M |
自由现金流率ATHSSTLD
| Q1 26 | — | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 11.5% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | -3.5% | ||
| Q4 24 | — | -2.7% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | -0.8% |
资本支出强度ATHSSTLD
| Q1 26 | — | — | ||
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 7.0% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 14.3% | ||
| Q2 24 | — | 9.0% |
现金转化率ATHSSTLD
| Q1 26 | — | 0.37× | ||
| Q4 25 | 5.82× | 1.03× | ||
| Q3 25 | 0.51× | 1.79× | ||
| Q2 25 | 2.28× | 1.01× | ||
| Q1 25 | 0.92× | 0.70× | ||
| Q4 24 | 0.38× | 1.67× | ||
| Q3 24 | 1.25× | 2.39× | ||
| Q2 24 | 0.83× | 0.89× |
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
ATHS
暂无分部数据
STLD
| Steel | $3.5B | 68% |
| Metals Recycling | $593.2M | 11% |
| Other | $490.1M | 9% |
| Steel Fabrication | $355.4M | 7% |
| Aluminum | $227.4M | 4% |
