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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与Deckers Brands（DECK）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.4倍（$2.0B vs $1.4B），Deckers Brands净利率更高（24.6% vs -5.4%，领先30.0%），Deckers Brands同比增速更快（7.1% vs 0.2%），Deckers Brands自由现金流更多（$1.0B vs $54.7M），过去两年Deckers Brands的营收复合增速更高（42.8% 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。
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
AXL vs DECK — 直观对比
营收规模更大
DECK
是对方的1.4倍
$1.4B
营收增速更快
DECK
高出6.9%
0.2%
净利率更高
DECK
高出30.0%
-5.4%
自由现金流更多
DECK
多$965.6M
$54.7M
两年增速更快
DECK
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.0B |
| 净利润 | $-75.3M | $481.1M |
| 毛利率 | 10.2% | 59.8% |
| 营业利润率 | -2.4% | 31.4% |
| 净利率 | -5.4% | 24.6% |
| 营收同比 | 0.2% | 7.1% |
| 净利润同比 | -449.6% | 5.3% |
| 每股收益（稀释后） | $-0.62 | $3.33 |
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AXLDECK
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.5B | $964.5M | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.4B | $1.8B | ||
| Q3 24 | $1.5B | $1.3B | ||
| Q2 24 | $1.6B | $825.3M | ||
| Q1 24 | $1.6B | $959.8M |
净利润AXLDECK
| Q4 25 | $-75.3M | $481.1M | ||
| Q3 25 | $9.2M | $268.2M | ||
| Q2 25 | $39.3M | $139.2M | ||
| Q1 25 | $7.1M | $151.4M | ||
| Q4 24 | $-13.7M | $456.7M | ||
| Q3 24 | $10.0M | $242.3M | ||
| Q2 24 | $18.2M | $115.6M | ||
| Q1 24 | $20.5M | $127.5M |
毛利率AXLDECK
| Q4 25 | 10.2% | 59.8% | ||
| Q3 25 | 12.6% | 56.2% | ||
| Q2 25 | 13.1% | 55.8% | ||
| Q1 25 | 12.3% | 56.7% | ||
| Q4 24 | 11.2% | 60.3% | ||
| Q3 24 | 11.4% | 55.9% | ||
| Q2 24 | 13.3% | 56.9% | ||
| Q1 24 | 12.4% | 56.2% |
营业利润率AXLDECK
| Q4 25 | -2.4% | 31.4% | ||
| Q3 25 | 3.2% | 22.8% | ||
| Q2 25 | 3.6% | 17.1% | ||
| Q1 25 | 3.0% | 17.0% | ||
| Q4 24 | 2.6% | 31.0% | ||
| Q3 24 | 2.8% | 23.3% | ||
| Q2 24 | 5.3% | 16.1% | ||
| Q1 24 | 4.8% | 15.0% |
净利率AXLDECK
| Q4 25 | -5.4% | 24.6% | ||
| Q3 25 | 0.6% | 18.7% | ||
| Q2 25 | 2.6% | 14.4% | ||
| Q1 25 | 0.5% | 14.8% | ||
| Q4 24 | -1.0% | 25.0% | ||
| Q3 24 | 0.7% | 18.5% | ||
| Q2 24 | 1.1% | 14.0% | ||
| Q1 24 | 1.3% | 13.3% |
每股收益（稀释后）AXLDECK
| Q4 25 | $-0.62 | $3.33 | ||
| Q3 25 | $0.07 | $1.82 | ||
| Q2 25 | $0.32 | $0.93 | ||
| Q1 25 | $0.06 | $-2.78 | ||
| Q4 24 | $-0.11 | $3.00 | ||
| Q3 24 | $0.08 | $1.59 | ||
| Q2 24 | $0.15 | $4.52 | ||
| Q1 24 | $0.17 | $4.82 |
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 | $2.1B |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $640.0M | $2.6B |
| 总资产 | $6.7B | $4.1B |
| 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AXLDECK
| Q4 25 | $708.9M | $2.1B | ||
| Q3 25 | $714.1M | $1.4B | ||
| Q2 25 | $586.5M | $1.7B | ||
| Q1 25 | $549.2M | $1.9B | ||
| Q4 24 | $552.9M | $2.2B | ||
| Q3 24 | $542.5M | $1.2B | ||
| Q2 24 | $519.9M | $1.4B | ||
| Q1 24 | $469.8M | $1.5B |
总债务AXLDECK
| 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AXLDECK
| Q4 25 | $640.0M | $2.6B | ||
| Q3 25 | $718.4M | $2.5B | ||
| Q2 25 | $673.0M | $2.5B | ||
| Q1 25 | $596.3M | $2.5B | ||
| Q4 24 | $562.8M | $2.6B | ||
| Q3 24 | $616.3M | $2.2B | ||
| Q2 24 | $609.6M | $2.1B | ||
| Q1 24 | $621.4M | $2.1B |
总资产AXLDECK
| Q4 25 | $6.7B | $4.1B | ||
| Q3 25 | $5.3B | $3.8B | ||
| Q2 25 | $5.3B | $3.8B | ||
| Q1 25 | $5.1B | $3.6B | ||
| Q4 24 | $5.1B | $4.0B | ||
| Q3 24 | $5.3B | $3.4B | ||
| Q2 24 | $5.3B | $3.3B | ||
| Q1 24 | $5.4B | $3.1B |
负债/权益比AXLDECK
| 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 | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $1.0B |
| 自由现金流率自由现金流/营收 | 4.0% | 52.1% |
| 资本支出强度资本支出/营收 | 4.8% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.17× |
| 过去12个月自由现金流最近4个季度 | $155.1M | $929.1M |
8季度趋势，按日历期对齐
经营现金流AXLDECK
| Q4 25 | $120.5M | $1.0B | ||
| Q3 25 | $143.3M | $8.1M | ||
| Q2 25 | $91.9M | $36.1M | ||
| Q1 25 | $55.9M | $-73.0M | ||
| Q4 24 | $151.2M | $1.1B | ||
| Q3 24 | $143.6M | $-90.5M | ||
| Q2 24 | $142.8M | $112.7M | ||
| Q1 24 | $17.8M | $-28.7M |
自由现金流AXLDECK
| Q4 25 | $54.7M | $1.0B | ||
| Q3 25 | $79.2M | $-13.9M | ||
| Q2 25 | $34.6M | $12.2M | ||
| Q1 25 | $-13.4M | $-89.4M | ||
| Q4 24 | $73.2M | $1.1B | ||
| Q3 24 | $70.4M | $-113.4M | ||
| Q2 24 | $94.0M | $90.1M | ||
| Q1 24 | $-30.2M | $-44.0M |
自由现金流率AXLDECK
| Q4 25 | 4.0% | 52.1% | ||
| Q3 25 | 5.3% | -1.0% | ||
| Q2 25 | 2.3% | 1.3% | ||
| Q1 25 | -0.9% | -8.8% | ||
| Q4 24 | 5.3% | 58.6% | ||
| Q3 24 | 4.7% | -8.6% | ||
| Q2 24 | 5.8% | 10.9% | ||
| Q1 24 | -1.9% | -4.6% |
资本支出强度AXLDECK
| Q4 25 | 4.8% | 1.1% | ||
| Q3 25 | 4.3% | 1.5% | ||
| Q2 25 | 3.7% | 2.5% | ||
| Q1 25 | 4.9% | 1.6% | ||
| Q4 24 | 5.6% | 1.3% | ||
| Q3 24 | 4.9% | 1.7% | ||
| Q2 24 | 3.0% | 2.7% | ||
| Q1 24 | 3.0% | 1.6% |
现金转化率AXLDECK
| Q4 25 | — | 2.17× | ||
| Q3 25 | 15.58× | 0.03× | ||
| Q2 25 | 2.34× | 0.26× | ||
| Q1 25 | 7.87× | -0.48× | ||
| Q4 24 | — | 2.40× | ||
| Q3 24 | 14.36× | -0.37× | ||
| Q2 24 | 7.85× | 0.97× | ||
| Q1 24 | 0.87× | -0.22× |
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% |
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
