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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与Core & Main, Inc.（CNM）财务数据对比。点击上方公司名可切换其他公司
Core & Main, Inc.的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.5倍（$2.1B vs $1.4B），Core & Main, Inc.净利率更高（6.6% vs -5.4%，领先12.1%），AMERICAN AXLE & MANUFACTURING HOLDINGS INC同比增速更快（0.2% vs 0.0%），Core & Main, Inc.自由现金流更多（$263.0M vs $54.7M），过去两年Core & Main, Inc.的营收复合增速更高（19.7% vs -7.2%）
美国车桥制造控股有限公司总部位于密歇根州底特律，是一家美国汽车传动轴与动力传动系统零部件及系统制造商，在汽车传动领域拥有成熟的技术与产能，为全球多家车企供应相关核心配件。
Core & Main, Inc.总部位于美国密苏里州圣路易斯，是美国专业的水务及相关防护产品分销商，主营供水、污水处理、雨水排放、消防防护类产品，客户覆盖市政部门、私营水务企业及专业承包商，在全美49个州设有370个分支机构，服务6万客户，在售产品达22.5万种。
AXL vs CNM — 直观对比
营收规模更大
CNM
是对方的1.5倍
$1.4B
营收增速更快
AXL
高出0.2%
0.0%
净利率更高
CNM
高出12.1%
-5.4%
自由现金流更多
CNM
多$208.3M
$54.7M
两年增速更快
CNM
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.1B |
| 净利润 | $-75.3M | $137.0M |
| 毛利率 | 10.2% | 27.2% |
| 营业利润率 | -2.4% | 10.7% |
| 净利率 | -5.4% | 6.6% |
| 营收同比 | 0.2% | 0.0% |
| 净利润同比 | -449.6% | 0.0% |
| 每股收益（稀释后） | $-0.62 | $0.72 |
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AXLCNM
| Q4 25 | $1.4B | $2.1B | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $1.4B | $2.0B | ||
| Q3 24 | $1.5B | $2.0B | ||
| Q2 24 | $1.6B | $1.7B | ||
| Q1 24 | $1.6B | $1.4B |
净利润AXLCNM
| Q4 25 | $-75.3M | $137.0M | ||
| Q3 25 | $9.2M | $134.0M | ||
| Q2 25 | $39.3M | $100.0M | ||
| Q1 25 | $7.1M | $64.0M | ||
| Q4 24 | $-13.7M | $133.0M | ||
| Q3 24 | $10.0M | $119.0M | ||
| Q2 24 | $18.2M | $95.0M | ||
| Q1 24 | $20.5M | $63.0M |
毛利率AXLCNM
| Q4 25 | 10.2% | 27.2% | ||
| Q3 25 | 12.6% | 26.8% | ||
| Q2 25 | 13.1% | 26.7% | ||
| Q1 25 | 12.3% | 26.6% | ||
| Q4 24 | 11.2% | 26.6% | ||
| Q3 24 | 11.4% | 26.4% | ||
| Q2 24 | 13.3% | 26.9% | ||
| Q1 24 | 12.4% | 26.7% |
营业利润率AXLCNM
| Q4 25 | -2.4% | 10.7% | ||
| Q3 25 | 3.2% | 10.2% | ||
| Q2 25 | 3.6% | 8.9% | ||
| Q1 25 | 3.0% | 7.3% | ||
| Q4 24 | 2.6% | 10.9% | ||
| Q3 24 | 2.8% | 10.4% | ||
| Q2 24 | 5.3% | 9.6% | ||
| Q1 24 | 4.8% | 8.1% |
净利率AXLCNM
| Q4 25 | -5.4% | 6.6% | ||
| Q3 25 | 0.6% | 6.4% | ||
| Q2 25 | 2.6% | 5.2% | ||
| Q1 25 | 0.5% | 3.8% | ||
| Q4 24 | -1.0% | 6.5% | ||
| Q3 24 | 0.7% | 6.1% | ||
| Q2 24 | 1.1% | 5.5% | ||
| Q1 24 | 1.3% | 4.4% |
每股收益（稀释后）AXLCNM
| Q4 25 | $-0.62 | $0.72 | ||
| Q3 25 | $0.07 | $0.70 | ||
| Q2 25 | $0.32 | $0.52 | ||
| Q1 25 | $0.06 | $0.34 | ||
| Q4 24 | $-0.11 | $0.69 | ||
| Q3 24 | $0.08 | $0.61 | ||
| Q2 24 | $0.15 | $0.49 | ||
| Q1 24 | $0.17 | $0.34 |
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 | $708.9M | $89.0M |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $640.0M | $2.0B |
| 总资产 | $6.7B | $6.3B |
| 负债/权益比越低杠杆越低 | 6.31× | — |
8季度趋势，按日历期对齐
现金及短期投资AXLCNM
| Q4 25 | $708.9M | $89.0M | ||
| Q3 25 | $714.1M | $25.0M | ||
| Q2 25 | $586.5M | $8.0M | ||
| Q1 25 | $549.2M | $8.0M | ||
| Q4 24 | $552.9M | $10.0M | ||
| Q3 24 | $542.5M | $13.0M | ||
| Q2 24 | $519.9M | $30.0M | ||
| Q1 24 | $469.8M | $1.0M |
总债务AXLCNM
| Q4 25 | $4.0B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益AXLCNM
| Q4 25 | $640.0M | $2.0B | ||
| Q3 25 | $718.4M | $1.9B | ||
| Q2 25 | $673.0M | $1.7B | ||
| Q1 25 | $596.3M | $1.7B | ||
| Q4 24 | $562.8M | $1.7B | ||
| Q3 24 | $616.3M | $1.6B | ||
| Q2 24 | $609.6M | $1.6B | ||
| Q1 24 | $621.4M | $1.5B |
总资产AXLCNM
| Q4 25 | $6.7B | $6.3B | ||
| Q3 25 | $5.3B | $6.3B | ||
| Q2 25 | $5.3B | $6.3B | ||
| Q1 25 | $5.1B | $5.9B | ||
| Q4 24 | $5.1B | $6.2B | ||
| Q3 24 | $5.3B | $6.1B | ||
| Q2 24 | $5.3B | $6.0B | ||
| Q1 24 | $5.4B | $5.1B |
负债/权益比AXLCNM
| Q4 25 | 6.31× | — | ||
| Q3 25 | 3.61× | — | ||
| Q2 25 | 3.86× | — | ||
| Q1 25 | 4.38× | — | ||
| Q4 24 | 4.58× | — | ||
| Q3 24 | 4.28× | — | ||
| Q2 24 | 4.42× | — | ||
| Q1 24 | 4.40× | — |
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 | $120.5M | $271.0M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $263.0M |
| 自由现金流率自由现金流/营收 | 4.0% | 12.8% |
| 资本支出强度资本支出/营收 | 4.8% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $155.1M | $575.0M |
8季度趋势，按日历期对齐
经营现金流AXLCNM
| Q4 25 | $120.5M | $271.0M | ||
| Q3 25 | $143.3M | $34.0M | ||
| Q2 25 | $91.9M | $77.0M | ||
| Q1 25 | $55.9M | $235.0M | ||
| Q4 24 | $151.2M | $260.0M | ||
| Q3 24 | $143.6M | $48.0M | ||
| Q2 24 | $142.8M | $78.0M | ||
| Q1 24 | $17.8M | $294.0M |
自由现金流AXLCNM
| Q4 25 | $54.7M | $263.0M | ||
| Q3 25 | $79.2M | $24.0M | ||
| Q2 25 | $34.6M | $64.0M | ||
| Q1 25 | $-13.4M | $224.0M | ||
| Q4 24 | $73.2M | $252.0M | ||
| Q3 24 | $70.4M | $39.0M | ||
| Q2 24 | $94.0M | $71.0M | ||
| Q1 24 | $-30.2M | $289.0M |
自由现金流率AXLCNM
| Q4 25 | 4.0% | 12.8% | ||
| Q3 25 | 5.3% | 1.1% | ||
| Q2 25 | 2.3% | 3.3% | ||
| Q1 25 | -0.9% | 13.2% | ||
| Q4 24 | 5.3% | 12.4% | ||
| Q3 24 | 4.7% | 2.0% | ||
| Q2 24 | 5.8% | 4.1% | ||
| Q1 24 | -1.9% | 20.1% |
资本支出强度AXLCNM
| Q4 25 | 4.8% | 0.4% | ||
| Q3 25 | 4.3% | 0.5% | ||
| Q2 25 | 3.7% | 0.7% | ||
| Q1 25 | 4.9% | 0.6% | ||
| Q4 24 | 5.6% | 0.4% | ||
| Q3 24 | 4.9% | 0.5% | ||
| Q2 24 | 3.0% | 0.4% | ||
| Q1 24 | 3.0% | 0.3% |
现金转化率AXLCNM
| Q4 25 | — | 1.98× | ||
| Q3 25 | 15.58× | 0.25× | ||
| Q2 25 | 2.34× | 0.77× | ||
| Q1 25 | 7.87× | 3.67× | ||
| Q4 24 | — | 1.95× | ||
| Q3 24 | 14.36× | 0.40× | ||
| Q2 24 | 7.85× | 0.82× | ||
| Q1 24 | 0.87× | 4.67× |
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
AXL
| Driveline | $748.4M | 54% |
| Other | $345.7M | 25% |
| Metal Forming | $289.8M | 21% |
CNM
| Pipes Valves And Fitting Products | $1.4B | 67% |
| Storm Drainage Products | $333.0M | 16% |
| Meter Products | $195.0M | 9% |
| Fire Protection Products | $152.0M | 7% |
