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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与德纳（DAN）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的季度营收约是德纳的1.1倍（$1.4B vs $1.3B），德纳净利率更高（-3.9% vs -5.4%，领先1.6%），AMERICAN AXLE & MANUFACTURING HOLDINGS INC同比增速更快（0.2% vs -44.5%），德纳自由现金流更多（$345.0M vs $54.7M），过去两年AMERICAN AXLE & MANUFACTURING HOLDINGS INC的营收复合增速更高（-7.2% vs -31.2%）
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。
德纳（Dana Inc.）是美国知名汽车零部件供应商，创立于1904年，总部位于俄亥俄州莫米。公司为传统燃油车、混合动力车及电动车提供车桥、传动轴，以及电驱动、热管理、密封、数字设备等产品，服务于轻型车、商用车市场，业务遍及33个国家，员工近2.8万人，2022年销售额达102亿美元，位列财富世界500强。
AXL vs DAN — 直观对比
营收规模更大
AXL
是对方的1.1倍
$1.3B
营收增速更快
AXL
高出44.7%
-44.5%
净利率更高
DAN
高出1.6%
-5.4%
自由现金流更多
DAN
多$290.3M
$54.7M
两年增速更快
AXL
近两年复合增速
-31.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.3B |
| 净利润 | $-75.3M | $-50.0M |
| 毛利率 | 10.2% | 6.0% |
| 营业利润率 | -2.4% | -0.2% |
| 净利率 | -5.4% | -3.9% |
| 营收同比 | 0.2% | -44.5% |
| 净利润同比 | -449.6% | 37.5% |
| 每股收益（稀释后） | $-0.62 | $-0.36 |
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AXLDAN
| Q4 25 | $1.4B | $1.3B | ||
| Q3 25 | $1.5B | $1.9B | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $1.4B | $2.4B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | $1.5B | $2.5B | ||
| Q2 24 | $1.6B | $2.7B | ||
| Q1 24 | $1.6B | $2.7B |
净利润AXLDAN
| Q4 25 | $-75.3M | $-50.0M | ||
| Q3 25 | $9.2M | $83.0M | ||
| Q2 25 | $39.3M | $27.0M | ||
| Q1 25 | $7.1M | $25.0M | ||
| Q4 24 | $-13.7M | $-80.0M | ||
| Q3 24 | $10.0M | $4.0M | ||
| Q2 24 | $18.2M | $16.0M | ||
| Q1 24 | $20.5M | $3.0M |
毛利率AXLDAN
| Q4 25 | 10.2% | 6.0% | ||
| Q3 25 | 12.6% | 8.7% | ||
| Q2 25 | 13.1% | 7.1% | ||
| Q1 25 | 12.3% | 9.4% | ||
| Q4 24 | 11.2% | 5.7% | ||
| Q3 24 | 11.4% | 9.9% | ||
| Q2 24 | 13.3% | 9.3% | ||
| Q1 24 | 12.4% | 8.9% |
营业利润率AXLDAN
| Q4 25 | -2.4% | -0.2% | ||
| Q3 25 | 3.2% | 2.8% | ||
| Q2 25 | 3.6% | 0.8% | ||
| Q1 25 | 3.0% | 3.1% | ||
| Q4 24 | 2.6% | -1.5% | ||
| Q3 24 | 2.8% | 3.6% | ||
| Q2 24 | 5.3% | 3.8% | ||
| Q1 24 | 4.8% | 2.6% |
净利率AXLDAN
| Q4 25 | -5.4% | -3.9% | ||
| Q3 25 | 0.6% | 4.3% | ||
| Q2 25 | 2.6% | 1.4% | ||
| Q1 25 | 0.5% | 1.1% | ||
| Q4 24 | -1.0% | -3.4% | ||
| Q3 24 | 0.7% | 0.2% | ||
| Q2 24 | 1.1% | 0.6% | ||
| Q1 24 | 1.3% | 0.1% |
每股收益（稀释后）AXLDAN
| Q4 25 | $-0.62 | $-0.36 | ||
| Q3 25 | $0.07 | $0.64 | ||
| Q2 25 | $0.32 | $0.19 | ||
| Q1 25 | $0.06 | $0.17 | ||
| Q4 24 | $-0.11 | $-0.55 | ||
| Q3 24 | $0.08 | $0.03 | ||
| Q2 24 | $0.15 | $0.11 | ||
| Q1 24 | $0.17 | $0.02 |
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 | $469.0M |
| 总债务越低越好 | $4.0B | $2.6B |
| 股东权益账面价值 | $640.0M | $840.0M |
| 总资产 | $6.7B | $7.8B |
| 负债/权益比越低杠杆越低 | 6.31× | 3.05× |
8季度趋势，按日历期对齐
现金及短期投资AXLDAN
| Q4 25 | $708.9M | $469.0M | ||
| Q3 25 | $714.1M | $414.0M | ||
| Q2 25 | $586.5M | $486.0M | ||
| Q1 25 | $549.2M | $507.0M | ||
| Q4 24 | $552.9M | $494.0M | ||
| Q3 24 | $542.5M | $419.0M | ||
| Q2 24 | $519.9M | $419.0M | ||
| Q1 24 | $469.8M | $351.0M |
总债务AXLDAN
| Q4 25 | $4.0B | $2.6B | ||
| Q3 25 | $2.6B | $2.6B | ||
| Q2 25 | $2.6B | $2.6B | ||
| Q1 25 | $2.6B | $2.4B | ||
| Q4 24 | $2.6B | $2.4B | ||
| Q3 24 | $2.6B | $2.4B | ||
| Q2 24 | $2.7B | $2.4B | ||
| Q1 24 | $2.7B | $2.6B |
股东权益AXLDAN
| Q4 25 | $640.0M | $840.0M | ||
| Q3 25 | $718.4M | $1.1B | ||
| Q2 25 | $673.0M | $1.2B | ||
| Q1 25 | $596.3M | $1.4B | ||
| Q4 24 | $562.8M | $1.3B | ||
| Q3 24 | $616.3M | $1.5B | ||
| Q2 24 | $609.6M | $1.5B | ||
| Q1 24 | $621.4M | $1.5B |
总资产AXLDAN
| Q4 25 | $6.7B | $7.8B | ||
| Q3 25 | $5.3B | $8.1B | ||
| Q2 25 | $5.3B | $8.1B | ||
| Q1 25 | $5.1B | $7.8B | ||
| Q4 24 | $5.1B | $7.5B | ||
| Q3 24 | $5.3B | $7.9B | ||
| Q2 24 | $5.3B | $7.8B | ||
| Q1 24 | $5.4B | $7.9B |
负债/权益比AXLDAN
| Q4 25 | 6.31× | 3.05× | ||
| Q3 25 | 3.61× | 2.35× | ||
| Q2 25 | 3.86× | 2.13× | ||
| Q1 25 | 4.38× | 1.76× | ||
| Q4 24 | 4.58× | 1.79× | ||
| Q3 24 | 4.28× | 1.65× | ||
| Q2 24 | 4.42× | 1.62× | ||
| Q1 24 | 4.40× | 1.68× |
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 | $406.0M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $345.0M |
| 自由现金流率自由现金流/营收 | 4.0% | 26.6% |
| 资本支出强度资本支出/营收 | 4.8% | 4.7% |
| 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 | $298.0M |
8季度趋势，按日历期对齐
经营现金流AXLDAN
| Q4 25 | $120.5M | $406.0M | ||
| Q3 25 | $143.3M | $111.0M | ||
| Q2 25 | $91.9M | $32.0M | ||
| Q1 25 | $55.9M | $-37.0M | ||
| Q4 24 | $151.2M | $302.0M | ||
| Q3 24 | $143.6M | $35.0M | ||
| Q2 24 | $142.8M | $215.0M | ||
| Q1 24 | $17.8M | $-102.0M |
自由现金流AXLDAN
| Q4 25 | $54.7M | $345.0M | ||
| Q3 25 | $79.2M | $62.0M | ||
| Q2 25 | $34.6M | $3.0M | ||
| Q1 25 | $-13.4M | $-112.0M | ||
| Q4 24 | $73.2M | $149.0M | ||
| Q3 24 | $70.4M | $-11.0M | ||
| Q2 24 | $94.0M | $104.0M | ||
| Q1 24 | $-30.2M | $-172.0M |
自由现金流率AXLDAN
| Q4 25 | 4.0% | 26.6% | ||
| Q3 25 | 5.3% | 3.2% | ||
| Q2 25 | 2.3% | 0.2% | ||
| Q1 25 | -0.9% | -4.8% | ||
| Q4 24 | 5.3% | 6.4% | ||
| Q3 24 | 4.7% | -0.4% | ||
| Q2 24 | 5.8% | 3.8% | ||
| Q1 24 | -1.9% | -6.3% |
资本支出强度AXLDAN
| Q4 25 | 4.8% | 4.7% | ||
| Q3 25 | 4.3% | 2.6% | ||
| Q2 25 | 3.7% | 1.5% | ||
| Q1 25 | 4.9% | 3.2% | ||
| Q4 24 | 5.6% | 6.6% | ||
| Q3 24 | 4.9% | 1.9% | ||
| Q2 24 | 3.0% | 4.1% | ||
| Q1 24 | 3.0% | 2.6% |
现金转化率AXLDAN
| Q4 25 | — | — | ||
| Q3 25 | 15.58× | 1.34× | ||
| Q2 25 | 2.34× | 1.19× | ||
| Q1 25 | 7.87× | -1.48× | ||
| Q4 24 | — | — | ||
| Q3 24 | 14.36× | 8.75× | ||
| Q2 24 | 7.85× | 13.44× | ||
| Q1 24 | 0.87× | -34.00× |
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% |
DAN
| Light Vehicle Segment | $912.0M | 70% |
| Commercial Vehicle Segment | $218.0M | 17% |
| Other | $166.0M | 13% |
