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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与Encompass Health Corp（EHC）财务数据对比。点击上方公司名可切换其他公司
Encompass Health Corp的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.1倍（$1.5B vs $1.4B），Encompass Health Corp净利率更高（9.5% vs -5.4%，领先14.9%），Encompass Health Corp同比增速更快（9.9% vs 0.2%），Encompass Health Corp自由现金流更多（$116.7M vs $54.7M），过去两年Encompass Health Corp的营收复合增速更高（8.3% 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。
Encompass Health Corp前身为Amcare及HealthSouth，总部位于美国阿拉巴马州伯明翰，是美国规模最大的住院康复服务提供商，在39个州及波多黎各拥有173家住院康复医院，为中风、神经系统疾病、心肺病症、脑损伤等患者提供专业康复诊疗服务。
AXL vs EHC — 直观对比
营收规模更大
EHC
是对方的1.1倍
$1.4B
营收增速更快
EHC
高出9.7%
0.2%
净利率更高
EHC
高出14.9%
-5.4%
自由现金流更多
EHC
多$62.0M
$54.7M
两年增速更快
EHC
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.5B |
| 净利润 | $-75.3M | $146.1M |
| 毛利率 | 10.2% | — |
| 营业利润率 | -2.4% | 16.7% |
| 净利率 | -5.4% | 9.5% |
| 营收同比 | 0.2% | 9.9% |
| 净利润同比 | -449.6% | 20.8% |
| 每股收益（稀释后） | $-0.62 | $1.43 |
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AXLEHC
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.6B | $1.3B | ||
| Q1 24 | $1.6B | $1.3B |
净利润AXLEHC
| Q4 25 | $-75.3M | $146.1M | ||
| Q3 25 | $9.2M | $126.5M | ||
| Q2 25 | $39.3M | $142.1M | ||
| Q1 25 | $7.1M | $151.5M | ||
| Q4 24 | $-13.7M | $120.9M | ||
| Q3 24 | $10.0M | $108.2M | ||
| Q2 24 | $18.2M | $114.1M | ||
| Q1 24 | $20.5M | $112.5M |
毛利率AXLEHC
| Q4 25 | 10.2% | — | ||
| Q3 25 | 12.6% | — | ||
| Q2 25 | 13.1% | — | ||
| Q1 25 | 12.3% | — | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | 11.4% | — | ||
| Q2 24 | 13.3% | — | ||
| Q1 24 | 12.4% | — |
营业利润率AXLEHC
| Q4 25 | -2.4% | 16.7% | ||
| Q3 25 | 3.2% | 14.9% | ||
| Q2 25 | 3.6% | 16.2% | ||
| Q1 25 | 3.0% | 16.4% | ||
| Q4 24 | 2.6% | 14.3% | ||
| Q3 24 | 2.8% | 13.6% | ||
| Q2 24 | 5.3% | 14.3% | ||
| Q1 24 | 4.8% | 13.6% |
净利率AXLEHC
| Q4 25 | -5.4% | 9.5% | ||
| Q3 25 | 0.6% | 8.6% | ||
| Q2 25 | 2.6% | 9.7% | ||
| Q1 25 | 0.5% | 10.4% | ||
| Q4 24 | -1.0% | 8.6% | ||
| Q3 24 | 0.7% | 8.0% | ||
| Q2 24 | 1.1% | 8.8% | ||
| Q1 24 | 1.3% | 8.5% |
每股收益（稀释后）AXLEHC
| Q4 25 | $-0.62 | $1.43 | ||
| Q3 25 | $0.07 | $1.24 | ||
| Q2 25 | $0.32 | $1.39 | ||
| Q1 25 | $0.06 | $1.48 | ||
| Q4 24 | $-0.11 | $1.18 | ||
| Q3 24 | $0.08 | $1.06 | ||
| Q2 24 | $0.15 | $1.12 | ||
| Q1 24 | $0.17 | $1.10 |
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 | $72.2M |
| 总债务越低越好 | $4.0B | $2.4B |
| 股东权益账面价值 | $640.0M | $2.4B |
| 总资产 | $6.7B | $7.1B |
| 负债/权益比越低杠杆越低 | 6.31× | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资AXLEHC
| Q4 25 | $708.9M | $72.2M | ||
| Q3 25 | $714.1M | $48.7M | ||
| Q2 25 | $586.5M | $99.1M | ||
| Q1 25 | $549.2M | $95.8M | ||
| Q4 24 | $552.9M | $85.4M | ||
| Q3 24 | $542.5M | $147.8M | ||
| Q2 24 | $519.9M | $154.4M | ||
| Q1 24 | $469.8M | $134.4M |
总债务AXLEHC
| Q4 25 | $4.0B | $2.4B | ||
| Q3 25 | $2.6B | $2.4B | ||
| Q2 25 | $2.6B | $2.3B | ||
| Q1 25 | $2.6B | $2.3B | ||
| Q4 24 | $2.6B | $2.4B | ||
| Q3 24 | $2.6B | $2.3B | ||
| Q2 24 | $2.7B | $2.7B | ||
| Q1 24 | $2.7B | $2.7B |
股东权益AXLEHC
| Q4 25 | $640.0M | $2.4B | ||
| Q3 25 | $718.4M | $2.4B | ||
| Q2 25 | $673.0M | $2.3B | ||
| Q1 25 | $596.3M | $2.2B | ||
| Q4 24 | $562.8M | $2.1B | ||
| Q3 24 | $616.3M | $2.0B | ||
| Q2 24 | $609.6M | $1.8B | ||
| Q1 24 | $621.4M | $1.7B |
总资产AXLEHC
| Q4 25 | $6.7B | $7.1B | ||
| Q3 25 | $5.3B | $6.9B | ||
| Q2 25 | $5.3B | $6.8B | ||
| Q1 25 | $5.1B | $6.6B | ||
| Q4 24 | $5.1B | $6.5B | ||
| Q3 24 | $5.3B | $6.5B | ||
| Q2 24 | $5.3B | $6.4B | ||
| Q1 24 | $5.4B | $6.2B |
负债/权益比AXLEHC
| Q4 25 | 6.31× | 1.00× | ||
| Q3 25 | 3.61× | 1.01× | ||
| Q2 25 | 3.86× | 1.02× | ||
| Q1 25 | 4.38× | 1.08× | ||
| Q4 24 | 4.58× | 1.14× | ||
| Q3 24 | 4.28× | 1.20× | ||
| Q2 24 | 4.42× | 1.46× | ||
| Q1 24 | 4.40× | 1.54× |
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 | $346.0M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $116.7M |
| 自由现金流率自由现金流/营收 | 4.0% | 7.6% |
| 资本支出强度资本支出/营收 | 4.8% | 14.8% |
| 现金转化率经营现金流/净利润 | — | 2.37× |
| 过去12个月自由现金流最近4个季度 | $155.1M | $439.2M |
8季度趋势，按日历期对齐
经营现金流AXLEHC
| Q4 25 | $120.5M | $346.0M | ||
| Q3 25 | $143.3M | $270.8M | ||
| Q2 25 | $91.9M | $270.2M | ||
| Q1 25 | $55.9M | $288.6M | ||
| Q4 24 | $151.2M | $278.8M | ||
| Q3 24 | $143.6M | $267.8M | ||
| Q2 24 | $142.8M | $217.4M | ||
| Q1 24 | $17.8M | $238.8M |
自由现金流AXLEHC
| Q4 25 | $54.7M | $116.7M | ||
| Q3 25 | $79.2M | $83.7M | ||
| Q2 25 | $34.6M | $113.3M | ||
| Q1 25 | $-13.4M | $125.5M | ||
| Q4 24 | $73.2M | $80.1M | ||
| Q3 24 | $70.4M | $120.3M | ||
| Q2 24 | $94.0M | $60.5M | ||
| Q1 24 | $-30.2M | $99.4M |
自由现金流率AXLEHC
| Q4 25 | 4.0% | 7.6% | ||
| Q3 25 | 5.3% | 5.7% | ||
| Q2 25 | 2.3% | 7.8% | ||
| Q1 25 | -0.9% | 8.6% | ||
| Q4 24 | 5.3% | 5.7% | ||
| Q3 24 | 4.7% | 8.9% | ||
| Q2 24 | 5.8% | 4.6% | ||
| Q1 24 | -1.9% | 7.6% |
资本支出强度AXLEHC
| Q4 25 | 4.8% | 14.8% | ||
| Q3 25 | 4.3% | 12.7% | ||
| Q2 25 | 3.7% | 10.8% | ||
| Q1 25 | 4.9% | 11.2% | ||
| Q4 24 | 5.6% | 14.1% | ||
| Q3 24 | 4.9% | 10.9% | ||
| Q2 24 | 3.0% | 12.1% | ||
| Q1 24 | 3.0% | 10.6% |
现金转化率AXLEHC
| Q4 25 | — | 2.37× | ||
| Q3 25 | 15.58× | 2.14× | ||
| Q2 25 | 2.34× | 1.90× | ||
| Q1 25 | 7.87× | 1.90× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | 14.36× | 2.48× | ||
| Q2 24 | 7.85× | 1.91× | ||
| Q1 24 | 0.87× | 2.12× |
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% |
EHC
| Medicare | $1.0B | 66% |
| Medicare Advantage | $243.1M | 16% |
| Managed Care | $160.7M | 10% |
| Medicaid | $47.0M | 3% |
| Other Income Source | $44.8M | 3% |
| Other Thirdparty Payors | $11.2M | 1% |
| Workers Compensation | $7.6M | 0% |
| Patients | $4.6M | 0% |
