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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与Camping World Holdings, Inc.（CWH）财务数据对比。点击上方公司名可切换其他公司
AMERICAN AXLE & MANUFACTURING HOLDINGS INC的季度营收约是Camping World Holdings, Inc.的1.2倍（$1.4B vs $1.2B），AMERICAN AXLE & MANUFACTURING HOLDINGS INC净利率更高（-5.4% vs -9.3%，领先3.9%），AMERICAN AXLE & MANUFACTURING HOLDINGS INC同比增速更快（0.2% vs -2.6%），过去两年AMERICAN AXLE & MANUFACTURING HOLDINGS INC的营收复合增速更高（-7.2% 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。
露营世界控股公司是美国知名露营房车行业企业，总部位于伊利诺伊州林肯郡，主营休闲房车销售、房车配件供应及售后维保服务，同时也售卖各类露营装备。目前公司在全美共设有202家线下门店，除线下门店经营外，还通过电话等渠道开展零售业务，2016年10月完成首次公开募股上市，募资2.51亿美元。
AXL vs CWH — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $-75.3M | $-109.1M |
| 毛利率 | 10.2% | 28.8% |
| 营业利润率 | -2.4% | -4.3% |
| 净利率 | -5.4% | -9.3% |
| 营收同比 | 0.2% | -2.6% |
| 净利润同比 | -449.6% | -83.3% |
| 每股收益（稀释后） | $-0.62 | — |
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
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.5B | $1.8B | ||
| Q2 25 | $1.5B | $2.0B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.5B | $1.7B | ||
| Q2 24 | $1.6B | $1.8B | ||
| Q1 24 | $1.6B | $1.4B |
| Q4 25 | $-75.3M | $-109.1M | ||
| Q3 25 | $9.2M | $-40.4M | ||
| Q2 25 | $39.3M | $30.2M | ||
| Q1 25 | $7.1M | $-12.3M | ||
| Q4 24 | $-13.7M | $-59.5M | ||
| Q3 24 | $10.0M | $5.5M | ||
| Q2 24 | $18.2M | $9.8M | ||
| Q1 24 | $20.5M | $-22.3M |
| Q4 25 | 10.2% | 28.8% | ||
| Q3 25 | 12.6% | 28.6% | ||
| Q2 25 | 13.1% | 30.0% | ||
| Q1 25 | 12.3% | 30.4% | ||
| Q4 24 | 11.2% | 31.3% | ||
| Q3 24 | 11.4% | 28.9% | ||
| Q2 24 | 13.3% | 30.3% | ||
| Q1 24 | 12.4% | 29.5% |
| Q4 25 | -2.4% | -4.3% | ||
| Q3 25 | 3.2% | 4.4% | ||
| Q2 25 | 3.6% | 6.6% | ||
| Q1 25 | 3.0% | 1.5% | ||
| Q4 24 | 2.6% | -1.3% | ||
| Q3 24 | 2.8% | 3.7% | ||
| Q2 24 | 5.3% | 5.3% | ||
| Q1 24 | 4.8% | 0.3% |
| Q4 25 | -5.4% | -9.3% | ||
| Q3 25 | 0.6% | -2.2% | ||
| Q2 25 | 2.6% | 1.5% | ||
| Q1 25 | 0.5% | -0.9% | ||
| Q4 24 | -1.0% | -4.9% | ||
| Q3 24 | 0.7% | 0.3% | ||
| Q2 24 | 1.1% | 0.5% | ||
| Q1 24 | 1.3% | -1.6% |
| Q4 25 | $-0.62 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.32 | — | ||
| Q1 25 | $0.06 | — | ||
| Q4 24 | $-0.11 | — | ||
| Q3 24 | $0.08 | — | ||
| Q2 24 | $0.15 | — | ||
| Q1 24 | $0.17 | — |
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 | $215.0M |
| 总债务越低越好 | $4.0B | $1.5B |
| 股东权益账面价值 | $640.0M | $228.6M |
| 总资产 | $6.7B | $5.0B |
| 负债/权益比越低杠杆越低 | 6.31× | 6.44× |
8季度趋势，按日历期对齐
| Q4 25 | $708.9M | $215.0M | ||
| Q3 25 | $714.1M | $230.5M | ||
| Q2 25 | $586.5M | $118.1M | ||
| Q1 25 | $549.2M | $20.9M | ||
| Q4 24 | $552.9M | $208.4M | ||
| Q3 24 | $542.5M | $28.4M | ||
| Q2 24 | $519.9M | $23.7M | ||
| Q1 24 | $469.8M | $29.7M |
| Q4 25 | $4.0B | $1.5B | ||
| Q3 25 | $2.6B | $1.5B | ||
| Q2 25 | $2.6B | $1.5B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.6B | $1.5B | ||
| Q2 24 | $2.7B | $1.5B | ||
| Q1 24 | $2.7B | $1.6B |
| Q4 25 | $640.0M | $228.6M | ||
| Q3 25 | $718.4M | $296.2M | ||
| Q2 25 | $673.0M | $340.5M | ||
| Q1 25 | $596.3M | $310.5M | ||
| Q4 24 | $562.8M | $326.6M | ||
| Q3 24 | $616.3M | $151.6M | ||
| Q2 24 | $609.6M | $149.7M | ||
| Q1 24 | $621.4M | $142.8M |
| Q4 25 | $6.7B | $5.0B | ||
| Q3 25 | $5.3B | $5.0B | ||
| Q2 25 | $5.3B | $5.2B | ||
| Q1 25 | $5.1B | $5.1B | ||
| Q4 24 | $5.1B | $4.9B | ||
| Q3 24 | $5.3B | $4.7B | ||
| Q2 24 | $5.3B | $5.0B | ||
| Q1 24 | $5.4B | $5.1B |
| Q4 25 | 6.31× | 6.44× | ||
| Q3 25 | 3.61× | 5.00× | ||
| Q2 25 | 3.86× | 4.42× | ||
| Q1 25 | 4.38× | 4.87× | ||
| Q4 24 | 4.58× | 4.64× | ||
| Q3 24 | 4.28× | 10.09× | ||
| Q2 24 | 4.42× | 10.28× | ||
| Q1 24 | 4.40× | 11.00× |
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 | $-227.2M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | — |
| 自由现金流率自由现金流/营收 | 4.0% | — |
| 资本支出强度资本支出/营收 | 4.8% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $155.1M | — |
8季度趋势，按日历期对齐
| Q4 25 | $120.5M | $-227.2M | ||
| Q3 25 | $143.3M | $139.8M | ||
| Q2 25 | $91.9M | $187.9M | ||
| Q1 25 | $55.9M | $-232.5M | ||
| Q4 24 | $151.2M | $-163.4M | ||
| Q3 24 | $143.6M | $324.2M | ||
| Q2 24 | $142.8M | $152.3M | ||
| Q1 24 | $17.8M | $-68.0M |
| Q4 25 | $54.7M | — | ||
| Q3 25 | $79.2M | — | ||
| Q2 25 | $34.6M | — | ||
| Q1 25 | $-13.4M | — | ||
| Q4 24 | $73.2M | — | ||
| Q3 24 | $70.4M | — | ||
| Q2 24 | $94.0M | — | ||
| Q1 24 | $-30.2M | — |
| Q4 25 | 4.0% | — | ||
| Q3 25 | 5.3% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | -0.9% | — | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 4.7% | — | ||
| Q2 24 | 5.8% | — | ||
| Q1 24 | -1.9% | — |
| Q4 25 | 4.8% | — | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 4.9% | — | ||
| Q4 24 | 5.6% | — | ||
| Q3 24 | 4.9% | — | ||
| Q2 24 | 3.0% | — | ||
| Q1 24 | 3.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | 15.58× | — | ||
| Q2 25 | 2.34× | 6.22× | ||
| Q1 25 | 7.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 14.36× | 58.93× | ||
| Q2 24 | 7.85× | 15.59× | ||
| 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
AXL
| Driveline | $748.4M | 54% |
| Other | $345.7M | 25% |
| Metal Forming | $289.8M | 21% |
CWH
| New Vehicles | $457.8M | 39% |
| Used Vehicles | $386.5M | 33% |
| Products Service And Other | $160.5M | 14% |
| Finance And Insurance Net | $111.4M | 9% |
| Good Sam Services And Plans | $48.0M | 4% |
| Good Sam Club | $10.5M | 1% |
