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艾利丹尼森（AVY）与NiSource（NI）财务数据对比。点击上方公司名可切换其他公司
艾利丹尼森的季度营收约是NiSource的1.2倍（$2.3B vs $1.9B），NiSource净利率更高（13.7% vs 7.3%，领先6.4%），NiSource同比增速更快（22.5% vs 7.0%），艾利丹尼森自由现金流更多（$104.4M vs $-133.7M），过去两年NiSource的营收复合增速更高（7.2% vs 1.4%）
艾利丹尼森是总部位于美国俄亥俄州门托市的财富500强跨国企业，专业从事压敏胶材料、服装品牌标签吊牌、RFID嵌体及特种医疗产品的生产与分销，业务覆盖全球多个主要市场。
NiSource是美国规模最大的受全面监管公用事业企业之一，总部位于印第安纳州梅里尔维尔，员工规模超8000人。公司旗下拥有Columbia Gas、NIPSCO两大本土品牌，业务覆盖美国六个州，为约350万天然气用户、50万电力用户提供服务，2018年时是印第安纳州唯一的本土公用事业企业。
AVY vs NI — 直观对比
营收规模更大
AVY
是对方的1.2倍
$1.9B
营收增速更快
NI
高出15.5%
7.0%
净利率更高
NI
高出6.4%
7.3%
自由现金流更多
AVY
多$238.1M
$-133.7M
两年增速更快
NI
近两年复合增速
1.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $1.9B |
| 净利润 | $168.1M | $257.8M |
| 毛利率 | 28.9% | — |
| 营业利润率 | 10.7% | 27.3% |
| 净利率 | 7.3% | 13.7% |
| 营收同比 | 7.0% | 22.5% |
| 净利润同比 | 1.1% | 15.1% |
| 每股收益（稀释后） | — | $0.53 |
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AVYNI
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $1.9B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.1B | $2.1B | ||
| Q4 24 | $2.2B | $1.5B | ||
| Q3 24 | $2.2B | $1.0B | ||
| Q2 24 | $2.2B | $1.1B |
净利润AVYNI
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $257.8M | ||
| Q3 25 | $166.3M | $94.7M | ||
| Q2 25 | $189.0M | $102.2M | ||
| Q1 25 | $166.3M | $474.8M | ||
| Q4 24 | $174.0M | $223.9M | ||
| Q3 24 | $181.7M | $85.7M | ||
| Q2 24 | $176.8M | $85.8M |
毛利率AVYNI
| Q1 26 | 28.9% | — | ||
| Q4 25 | 28.7% | — | ||
| Q3 25 | 28.7% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 28.9% | — | ||
| Q4 24 | 27.9% | — | ||
| Q3 24 | 28.7% | — | ||
| Q2 24 | 29.6% | — |
营业利润率AVYNI
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.1% | 27.3% | ||
| Q3 25 | 10.6% | 24.0% | ||
| Q2 25 | 11.5% | 21.1% | ||
| Q1 25 | 10.6% | 35.3% | ||
| Q4 24 | 11.0% | 27.1% | ||
| Q3 24 | 11.0% | 20.9% | ||
| Q2 24 | 10.7% | 22.5% |
净利率AVYNI
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | 13.7% | ||
| Q3 25 | 7.5% | 7.6% | ||
| Q2 25 | 8.5% | 8.2% | ||
| Q1 25 | 7.7% | 22.1% | ||
| Q4 24 | 8.0% | 14.5% | ||
| Q3 24 | 8.3% | 8.2% | ||
| Q2 24 | 7.9% | 8.1% |
每股收益（稀释后）AVYNI
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $0.53 | ||
| Q3 25 | $2.13 | $0.20 | ||
| Q2 25 | $2.41 | $0.22 | ||
| Q1 25 | $2.09 | $1.00 | ||
| Q4 24 | $2.17 | $0.47 | ||
| Q3 24 | $2.25 | $0.19 | ||
| Q2 24 | $2.18 | $0.19 |
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 | $255.1M | $110.1M |
| 总债务越低越好 | $3.2B | $15.5B |
| 股东权益账面价值 | $2.3B | $9.5B |
| 总资产 | $9.0B | $35.9B |
| 负债/权益比越低杠杆越低 | 1.38× | 1.64× |
8季度趋势，按日历期对齐
现金及短期投资AVYNI
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $110.1M | ||
| Q3 25 | $536.3M | $95.0M | ||
| Q2 25 | $215.9M | $335.4M | ||
| Q1 25 | $195.9M | $259.4M | ||
| Q4 24 | $329.1M | $156.6M | ||
| Q3 24 | $212.7M | $126.2M | ||
| Q2 24 | $208.8M | $101.2M |
总债务AVYNI
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $15.5B | ||
| Q3 25 | $3.2B | $14.5B | ||
| Q2 25 | $2.6B | $14.5B | ||
| Q1 25 | $2.6B | $12.8B | ||
| Q4 24 | $2.6B | $12.1B | ||
| Q3 24 | $2.0B | $12.1B | ||
| Q2 24 | $2.0B | $12.8B |
股东权益AVYNI
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $9.5B | ||
| Q3 25 | $2.2B | $9.1B | ||
| Q2 25 | $2.2B | $8.9B | ||
| Q1 25 | $2.2B | $8.9B | ||
| Q4 24 | $2.3B | $8.7B | ||
| Q3 24 | $2.4B | $8.3B | ||
| Q2 24 | $2.3B | $7.9B |
总资产AVYNI
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $35.9B | ||
| Q3 25 | $8.9B | $34.4B | ||
| Q2 25 | $8.6B | $34.0B | ||
| Q1 25 | $8.4B | $33.1B | ||
| Q4 24 | $8.4B | $31.8B | ||
| Q3 24 | $8.5B | $30.8B | ||
| Q2 24 | $8.3B | $29.9B |
负债/权益比AVYNI
| Q1 26 | 1.38× | — | ||
| Q4 25 | 1.43× | 1.64× | ||
| Q3 25 | 1.45× | 1.59× | ||
| Q2 25 | 1.19× | 1.63× | ||
| Q1 25 | 1.19× | 1.44× | ||
| Q4 24 | 1.11× | 1.39× | ||
| Q3 24 | 0.85× | 1.45× | ||
| Q2 24 | 0.89× | 1.63× |
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 | — | $712.6M |
| 自由现金流经营现金流 - 资本支出 | $104.4M | $-133.7M |
| 自由现金流率自由现金流/营收 | 4.5% | -7.1% |
| 资本支出强度资本支出/营收 | — | 44.9% |
| 现金转化率经营现金流/净利润 | — | 2.76× |
| 过去12个月自由现金流最近4个季度 | $869.1M | $-420.0M |
8季度趋势，按日历期对齐
经营现金流AVYNI
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | $712.6M | ||
| Q3 25 | $312.1M | $467.9M | ||
| Q2 25 | $208.8M | $495.4M | ||
| Q1 25 | $-16.3M | $686.4M | ||
| Q4 24 | $351.2M | $539.8M | ||
| Q3 24 | $270.1M | $340.0M | ||
| Q2 24 | $197.7M | $445.5M |
自由现金流AVYNI
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $-133.7M | ||
| Q3 25 | $276.2M | $-172.6M | ||
| Q2 25 | $178.8M | $-162.8M | ||
| Q1 25 | $-52.3M | $49.1M | ||
| Q4 24 | $281.7M | $-220.2M | ||
| Q3 24 | $227.1M | $-294.7M | ||
| Q2 24 | $150.2M | $-184.3M |
自由现金流率AVYNI
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | -7.1% | ||
| Q3 25 | 12.5% | -13.9% | ||
| Q2 25 | 8.1% | -13.1% | ||
| Q1 25 | -2.4% | 2.3% | ||
| Q4 24 | 12.9% | -14.3% | ||
| Q3 24 | 10.4% | -28.2% | ||
| Q2 24 | 6.7% | -17.5% |
资本支出强度AVYNI
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 44.9% | ||
| Q3 25 | 1.6% | 51.6% | ||
| Q2 25 | 1.4% | 52.8% | ||
| Q1 25 | 1.7% | 29.6% | ||
| Q4 24 | 3.2% | 49.4% | ||
| Q3 24 | 2.0% | 60.7% | ||
| Q2 24 | 2.1% | 59.7% |
现金转化率AVYNI
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 2.76× | ||
| Q3 25 | 1.88× | 4.94× | ||
| Q2 25 | 1.10× | 4.85× | ||
| Q1 25 | -0.10× | 1.45× | ||
| Q4 24 | 2.02× | 2.41× | ||
| Q3 24 | 1.49× | 3.97× | ||
| Q2 24 | 1.12× | 5.19× |
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
AVY
| Materials Group | $1.6B | 72% |
| Solutions Group | $649.2M | 28% |
NI
| Residential | $703.6M | 37% |
| Ni Source Electric Generation And Power Delivery | $525.6M | 28% |
| NIPSCO Gas Distribution | $348.1M | 18% |
| Commercial | $235.9M | 13% |
| Industrial | $45.9M | 2% |
| Offsystem | $16.9M | 1% |
| Misc. | $9.6M | 1% |
| Related Party | $3.3M | 0% |
