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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与第一太阳能（FSLR）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的季度营收约是第一太阳能的1.3倍（$1.4B vs $1.0B），第一太阳能净利率更高（33.2% vs -5.4%，领先38.6%），第一太阳能同比增速更快（23.6% vs 0.2%），过去两年第一太阳能的营收复合增速更高（1.7% 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。
第一太阳能是美国上市光伏面板制造商，1990年成立时名为Solar Cells, Inc.，1999年被True North Partners收购后改为现名。公司采用碲化镉（CdTe）半导体技术生产刚性薄膜光伏面板，旗下所有生产基地均提供退役面板回收服务。
AXL vs FSLR — 直观对比
营收规模更大
AXL
是对方的1.3倍
$1.0B
营收增速更快
FSLR
高出23.4%
0.2%
净利率更高
FSLR
高出38.6%
-5.4%
两年增速更快
FSLR
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.0B |
| 净利润 | $-75.3M | $346.6M |
| 毛利率 | 10.2% | 46.6% |
| 营业利润率 | -2.4% | 33.1% |
| 净利率 | -5.4% | 33.2% |
| 营收同比 | 0.2% | 23.6% |
| 净利润同比 | -449.6% | 65.4% |
| 每股收益（稀释后） | $-0.62 | $3.22 |
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AXLFSLR
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.5B | $1.6B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $844.6M | ||
| Q4 24 | $1.4B | $1.5B | ||
| Q3 24 | $1.5B | $887.7M | ||
| Q2 24 | $1.6B | $1.0B |
净利润AXLFSLR
| Q1 26 | — | $346.6M | ||
| Q4 25 | $-75.3M | $520.9M | ||
| Q3 25 | $9.2M | $455.9M | ||
| Q2 25 | $39.3M | $341.9M | ||
| Q1 25 | $7.1M | $209.5M | ||
| Q4 24 | $-13.7M | $393.1M | ||
| Q3 24 | $10.0M | $313.0M | ||
| Q2 24 | $18.2M | $349.4M |
毛利率AXLFSLR
| Q1 26 | — | 46.6% | ||
| Q4 25 | 10.2% | 39.5% | ||
| Q3 25 | 12.6% | 38.3% | ||
| Q2 25 | 13.1% | 45.6% | ||
| Q1 25 | 12.3% | 40.8% | ||
| Q4 24 | 11.2% | 37.5% | ||
| Q3 24 | 11.4% | 50.2% | ||
| Q2 24 | 13.3% | 49.4% |
营业利润率AXLFSLR
| Q1 26 | — | 33.1% | ||
| Q4 25 | -2.4% | 32.6% | ||
| Q3 25 | 3.2% | 29.2% | ||
| Q2 25 | 3.6% | 33.0% | ||
| Q1 25 | 3.0% | 26.2% | ||
| Q4 24 | 2.6% | 30.2% | ||
| Q3 24 | 2.8% | 36.3% | ||
| Q2 24 | 5.3% | 36.9% |
净利率AXLFSLR
| Q1 26 | — | 33.2% | ||
| Q4 25 | -5.4% | 31.0% | ||
| Q3 25 | 0.6% | 28.6% | ||
| Q2 25 | 2.6% | 31.2% | ||
| Q1 25 | 0.5% | 24.8% | ||
| Q4 24 | -1.0% | 26.0% | ||
| Q3 24 | 0.7% | 35.3% | ||
| Q2 24 | 1.1% | 34.6% |
每股收益（稀释后）AXLFSLR
| Q1 26 | — | $3.22 | ||
| Q4 25 | $-0.62 | $4.84 | ||
| Q3 25 | $0.07 | $4.24 | ||
| Q2 25 | $0.32 | $3.18 | ||
| Q1 25 | $0.06 | $1.95 | ||
| Q4 24 | $-0.11 | $3.66 | ||
| Q3 24 | $0.08 | $2.91 | ||
| Q2 24 | $0.15 | $3.25 |
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 | $2.4B |
| 总债务越低越好 | $4.0B | $425.8M |
| 股东权益账面价值 | $640.0M | $9.9B |
| 总资产 | $6.7B | $13.4B |
| 负债/权益比越低杠杆越低 | 6.31× | 0.04× |
8季度趋势，按日历期对齐
现金及短期投资AXLFSLR
| Q1 26 | — | $2.4B | ||
| Q4 25 | $708.9M | $2.8B | ||
| Q3 25 | $714.1M | $2.0B | ||
| Q2 25 | $586.5M | $1.1B | ||
| Q1 25 | $549.2M | $837.6M | ||
| Q4 24 | $552.9M | $1.6B | ||
| Q3 24 | $542.5M | $1.0B | ||
| Q2 24 | $519.9M | $1.7B |
总债务AXLFSLR
| Q1 26 | — | $425.8M | ||
| 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 | — |
股东权益AXLFSLR
| Q1 26 | — | $9.9B | ||
| Q4 25 | $640.0M | $9.5B | ||
| Q3 25 | $718.4M | $9.0B | ||
| Q2 25 | $673.0M | $8.5B | ||
| Q1 25 | $596.3M | $8.2B | ||
| Q4 24 | $562.8M | $8.0B | ||
| Q3 24 | $616.3M | $7.6B | ||
| Q2 24 | $609.6M | $7.3B |
总资产AXLFSLR
| Q1 26 | — | $13.4B | ||
| Q4 25 | $6.7B | $13.3B | ||
| Q3 25 | $5.3B | $13.5B | ||
| Q2 25 | $5.3B | $12.9B | ||
| Q1 25 | $5.1B | $12.1B | ||
| Q4 24 | $5.1B | $12.1B | ||
| Q3 24 | $5.3B | $11.4B | ||
| Q2 24 | $5.3B | $11.0B |
负债/权益比AXLFSLR
| Q1 26 | — | 0.04× | ||
| 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× | — |
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 | $-214.9M |
| 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 | — | -0.62× |
| 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
经营现金流AXLFSLR
| Q1 26 | — | $-214.9M | ||
| Q4 25 | $120.5M | $1.2B | ||
| Q3 25 | $143.3M | $1.3B | ||
| Q2 25 | $91.9M | $149.6M | ||
| Q1 25 | $55.9M | $-608.0M | ||
| Q4 24 | $151.2M | $811.0M | ||
| Q3 24 | $143.6M | $-53.7M | ||
| Q2 24 | $142.8M | $193.0M |
自由现金流AXLFSLR
| Q1 26 | — | — | ||
| Q4 25 | $54.7M | $1.1B | ||
| Q3 25 | $79.2M | $1.1B | ||
| Q2 25 | $34.6M | $-138.6M | ||
| Q1 25 | $-13.4M | $-813.9M | ||
| Q4 24 | $73.2M | $497.5M | ||
| Q3 24 | $70.4M | $-487.7M | ||
| Q2 24 | $94.0M | $-172.1M |
自由现金流率AXLFSLR
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 63.6% | ||
| Q3 25 | 5.3% | 67.1% | ||
| Q2 25 | 2.3% | -12.6% | ||
| Q1 25 | -0.9% | -96.4% | ||
| Q4 24 | 5.3% | 32.9% | ||
| Q3 24 | 4.7% | -54.9% | ||
| Q2 24 | 5.8% | -17.0% |
资本支出强度AXLFSLR
| Q1 26 | — | — | ||
| Q4 25 | 4.8% | 10.2% | ||
| Q3 25 | 4.3% | 12.8% | ||
| Q2 25 | 3.7% | 26.3% | ||
| Q1 25 | 4.9% | 24.4% | ||
| Q4 24 | 5.6% | 20.7% | ||
| Q3 24 | 4.9% | 48.9% | ||
| Q2 24 | 3.0% | 36.1% |
现金转化率AXLFSLR
| Q1 26 | — | -0.62× | ||
| Q4 25 | — | 2.38× | ||
| Q3 25 | 15.58× | 2.79× | ||
| Q2 25 | 2.34× | 0.44× | ||
| Q1 25 | 7.87× | -2.90× | ||
| Q4 24 | — | 2.06× | ||
| Q3 24 | 14.36× | -0.17× | ||
| Q2 24 | 7.85× | 0.55× |
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% |
FSLR
暂无分部数据
