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普立万（AVNT）与盛思阳（TSE）财务数据对比。点击上方公司名可切换其他公司
普立万的季度营收约是盛思阳的1.1倍（$760.6M vs $662.6M）。普立万净利率更高（2.2% vs -37.9%，领先40.2%）。普立万同比增速更快（1.9% vs -19.3%）。普立万自由现金流更多（$125.4M vs $6.6M）。过去两年普立万的营收复合增速更高（-4.2% vs -14.4%）
普立万公司是一家全球性材料解决方案供应商，总部位于美国俄亥俄州埃文湖，全球员工约9000人。主营产品涵盖色母粒、先进复合材料、功能添加剂以及工程材料，为多行业客户提供定制化的材料相关技术支持与解决方案。
盛思阳（Trinseo）是一家专注于塑料与乳胶粘合剂生产的材料企业。该公司原隶属于陶氏化学公司，2009年陶氏将其分拆待售，2010年相关资产以斯泰隆（Styron）之名作价16.3亿美元出售给贝恩资本。2016年贝恩清仓全部持股， Trinseo自此成为完全独立的公众上市公司。
AVNT vs TSE — 直观对比
营收规模更大
AVNT
是对方的1.1倍
$662.6M
营收增速更快
AVNT
高出21.2%
-19.3%
净利率更高
AVNT
高出40.2%
-37.9%
自由现金流更多
AVNT
多$118.8M
$6.6M
两年增速更快
AVNT
近两年复合增速
-14.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $760.6M | $662.6M |
| 净利润 | $16.9M | $-251.4M |
| 毛利率 | 30.2% | 4.2% |
| 营业利润率 | 5.2% | -24.7% |
| 净利率 | 2.2% | -37.9% |
| 营收同比 | 1.9% | -19.3% |
| 净利润同比 | -65.0% | -113.2% |
| 每股收益（稀释后） | $0.18 | $-7.02 |
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AVNTTSE
| Q4 25 | $760.6M | $662.6M | ||
| Q3 25 | $806.5M | $743.2M | ||
| Q2 25 | $866.5M | $784.3M | ||
| Q1 25 | $826.6M | $784.8M | ||
| Q4 24 | $746.5M | $821.5M | ||
| Q3 24 | $815.2M | $867.7M | ||
| Q2 24 | $849.7M | $920.0M | ||
| Q1 24 | $829.0M | $904.0M |
净利润AVNTTSE
| Q4 25 | $16.9M | $-251.4M | ||
| Q3 25 | $32.6M | $-109.7M | ||
| Q2 25 | $52.6M | $-105.5M | ||
| Q1 25 | $-20.2M | $-79.0M | ||
| Q4 24 | $48.3M | $-117.9M | ||
| Q3 24 | $38.2M | $-87.3M | ||
| Q2 24 | $33.6M | $-67.8M | ||
| Q1 24 | $49.4M | $-75.5M |
毛利率AVNTTSE
| Q4 25 | 30.2% | 4.2% | ||
| Q3 25 | 30.4% | 5.0% | ||
| Q2 25 | 32.1% | 4.7% | ||
| Q1 25 | 31.8% | 8.1% | ||
| Q4 24 | 34.8% | 6.8% | ||
| Q3 24 | 32.1% | 9.3% | ||
| Q2 24 | 30.3% | 7.4% | ||
| Q1 24 | 33.6% | 6.7% |
营业利润率AVNTTSE
| Q4 25 | 5.2% | -24.7% | ||
| Q3 25 | 8.3% | -3.8% | ||
| Q2 25 | 11.1% | -4.2% | ||
| Q1 25 | 0.1% | -3.7% | ||
| Q4 24 | 11.5% | -5.4% | ||
| Q3 24 | 9.5% | -1.4% | ||
| Q2 24 | 8.5% | 1.5% | ||
| Q1 24 | 11.3% | -0.4% |
净利率AVNTTSE
| Q4 25 | 2.2% | -37.9% | ||
| Q3 25 | 4.0% | -14.8% | ||
| Q2 25 | 6.1% | -13.5% | ||
| Q1 25 | -2.4% | -10.1% | ||
| Q4 24 | 6.5% | -14.4% | ||
| Q3 24 | 4.7% | -10.1% | ||
| Q2 24 | 4.0% | -7.4% | ||
| Q1 24 | 6.0% | -8.4% |
每股收益（稀释后）AVNTTSE
| Q4 25 | $0.18 | $-7.02 | ||
| Q3 25 | $0.36 | $-3.05 | ||
| Q2 25 | $0.57 | $-2.95 | ||
| Q1 25 | $-0.22 | $-2.22 | ||
| Q4 24 | $0.53 | $-3.33 | ||
| Q3 24 | $0.41 | $-2.47 | ||
| Q2 24 | $0.36 | $-1.92 | ||
| Q1 24 | $0.54 | $-2.14 |
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 | — | $146.7M |
| 总债务越低越好 | $1.9B | $2.5B |
| 股东权益账面价值 | $2.4B | $-1.1B |
| 总资产 | $6.0B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.81× | — |
8季度趋势，按日历期对齐
现金及短期投资AVNTTSE
| Q4 25 | — | $146.7M | ||
| Q3 25 | — | $112.1M | ||
| Q2 25 | — | $137.0M | ||
| Q1 25 | — | $126.1M | ||
| Q4 24 | — | $209.8M | ||
| Q3 24 | — | $165.3M | ||
| Q2 24 | — | $105.6M | ||
| Q1 24 | — | $166.4M |
总债务AVNTTSE
| Q4 25 | $1.9B | $2.5B | ||
| Q3 25 | $2.0B | $2.5B | ||
| Q2 25 | $2.0B | $2.5B | ||
| Q1 25 | $2.1B | $2.5B | ||
| Q4 24 | $2.1B | $2.4B | ||
| Q3 24 | $2.1B | $2.4B | ||
| Q2 24 | $2.1B | $2.3B | ||
| Q1 24 | $2.1B | $2.3B |
股东权益AVNTTSE
| Q4 25 | $2.4B | $-1.1B | ||
| Q3 25 | $2.4B | $-861.6M | ||
| Q2 25 | $2.4B | $-750.3M | ||
| Q1 25 | $2.3B | $-679.2M | ||
| Q4 24 | $2.3B | $-619.9M | ||
| Q3 24 | $2.4B | $-480.0M | ||
| Q2 24 | $2.3B | $-413.8M | ||
| Q1 24 | $2.3B | $-348.0M |
总资产AVNTTSE
| Q4 25 | $6.0B | $2.3B | ||
| Q3 25 | $6.1B | $2.5B | ||
| Q2 25 | $6.1B | $2.6B | ||
| Q1 25 | $5.8B | $2.7B | ||
| Q4 24 | $5.8B | $2.6B | ||
| Q3 24 | $6.0B | $2.9B | ||
| Q2 24 | $5.9B | $2.8B | ||
| Q1 24 | $5.9B | $3.0B |
负债/权益比AVNTTSE
| Q4 25 | 0.81× | — | ||
| Q3 25 | 0.83× | — | ||
| Q2 25 | 0.86× | — | ||
| Q1 25 | 0.90× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.88× | — | ||
| Q2 24 | 0.90× | — | ||
| Q1 24 | 0.90× | — |
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 | $167.8M | $22.6M |
| 自由现金流经营现金流 - 资本支出 | $125.4M | $6.6M |
| 自由现金流率自由现金流/营收 | 16.5% | 1.0% |
| 资本支出强度资本支出/营收 | 5.6% | 2.4% |
| 现金转化率经营现金流/净利润 | 9.93× | — |
| 过去12个月自由现金流最近4个季度 | $195.0M | $-153.4M |
8季度趋势，按日历期对齐
经营现金流AVNTTSE
| Q4 25 | $167.8M | $22.6M | ||
| Q3 25 | $72.1M | $-21.6M | ||
| Q2 25 | $112.8M | $6.8M | ||
| Q1 25 | $-51.1M | $-110.2M | ||
| Q4 24 | $122.6M | $85.1M | ||
| Q3 24 | $71.1M | $8.8M | ||
| Q2 24 | $105.9M | $-41.9M | ||
| Q1 24 | $-42.8M | $-66.2M |
自由现金流AVNTTSE
| Q4 25 | $125.4M | $6.6M | ||
| Q3 25 | $47.4M | $-38.1M | ||
| Q2 25 | $85.8M | $-3.0M | ||
| Q1 25 | $-63.6M | $-118.9M | ||
| Q4 24 | $81.5M | $63.9M | ||
| Q3 24 | $46.1M | $-3.4M | ||
| Q2 24 | $74.5M | $-56.1M | ||
| Q1 24 | $-67.2M | $-81.9M |
自由现金流率AVNTTSE
| Q4 25 | 16.5% | 1.0% | ||
| Q3 25 | 5.9% | -5.1% | ||
| Q2 25 | 9.9% | -0.4% | ||
| Q1 25 | -7.7% | -15.2% | ||
| Q4 24 | 10.9% | 7.8% | ||
| Q3 24 | 5.7% | -0.4% | ||
| Q2 24 | 8.8% | -6.1% | ||
| Q1 24 | -8.1% | -9.1% |
资本支出强度AVNTTSE
| Q4 25 | 5.6% | 2.4% | ||
| Q3 25 | 3.1% | 2.2% | ||
| Q2 25 | 3.1% | 1.2% | ||
| Q1 25 | 1.5% | 1.1% | ||
| Q4 24 | 5.5% | 2.6% | ||
| Q3 24 | 3.1% | 1.4% | ||
| Q2 24 | 3.7% | 1.5% | ||
| Q1 24 | 2.9% | 1.7% |
现金转化率AVNTTSE
| Q4 25 | 9.93× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.14× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.54× | — | ||
| Q3 24 | 1.86× | — | ||
| Q2 24 | 3.15× | — | ||
| Q1 24 | -0.87× | — |
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
AVNT
| Color Additives And Inks | $466.0M | 61% |
| Specialty Engineered Materials | $295.5M | 39% |
TSE
| Other | $325.2M | 49% |
| Asia Pacific | $142.2M | 21% |
| Engineered Materials | $105.0M | 16% |
| Latex | $59.9M | 9% |
| Polymer Solutions | $30.3M | 5% |
