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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与格罗方德（GFS）财务数据对比。点击上方公司名可切换其他公司
格罗方德的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.2倍（$1.7B vs $1.4B），格罗方德净利率更高（14.8% vs -5.4%，领先20.2%），AMERICAN AXLE & MANUFACTURING HOLDINGS INC同比增速更快（0.2% vs -2.9%），过去两年格罗方德的营收复合增速更高（-4.3% 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。
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
AXL vs GFS — 直观对比
营收规模更大
GFS
是对方的1.2倍
$1.4B
营收增速更快
AXL
高出3.2%
-2.9%
净利率更高
GFS
高出20.2%
-5.4%
两年增速更快
GFS
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.7B |
| 净利润 | $-75.3M | $249.0M |
| 毛利率 | 10.2% | 24.8% |
| 营业利润率 | -2.4% | 11.6% |
| 净利率 | -5.4% | 14.8% |
| 营收同比 | 0.2% | -2.9% |
| 净利润同比 | -449.6% | 39.9% |
| 每股收益（稀释后） | $-0.62 | $0.44 |
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AXLGFS
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.5B | $1.7B | ||
| Q2 24 | $1.6B | $1.6B | ||
| Q1 24 | $1.6B | $1.5B |
净利润AXLGFS
| Q4 25 | $-75.3M | — | ||
| Q3 25 | $9.2M | $249.0M | ||
| Q2 25 | $39.3M | $228.0M | ||
| Q1 25 | $7.1M | $211.0M | ||
| Q4 24 | $-13.7M | — | ||
| Q3 24 | $10.0M | $178.0M | ||
| Q2 24 | $18.2M | $155.0M | ||
| Q1 24 | $20.5M | $134.0M |
毛利率AXLGFS
| Q4 25 | 10.2% | — | ||
| Q3 25 | 12.6% | 24.8% | ||
| Q2 25 | 13.1% | 24.2% | ||
| Q1 25 | 12.3% | 22.4% | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | 11.4% | 23.8% | ||
| Q2 24 | 13.3% | 24.2% | ||
| Q1 24 | 12.4% | 25.4% |
营业利润率AXLGFS
| Q4 25 | -2.4% | — | ||
| Q3 25 | 3.2% | 11.6% | ||
| Q2 25 | 3.6% | 11.6% | ||
| Q1 25 | 3.0% | 9.5% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 2.8% | 10.6% | ||
| Q2 24 | 5.3% | 9.5% | ||
| Q1 24 | 4.8% | 9.5% |
净利率AXLGFS
| Q4 25 | -5.4% | — | ||
| Q3 25 | 0.6% | 14.8% | ||
| Q2 25 | 2.6% | 13.5% | ||
| Q1 25 | 0.5% | 13.3% | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | 0.7% | 10.2% | ||
| Q2 24 | 1.1% | 9.5% | ||
| Q1 24 | 1.3% | 8.7% |
每股收益（稀释后）AXLGFS
| Q4 25 | $-0.62 | — | ||
| Q3 25 | $0.07 | $0.44 | ||
| Q2 25 | $0.32 | $0.41 | ||
| Q1 25 | $0.06 | $0.38 | ||
| Q4 24 | $-0.11 | — | ||
| Q3 24 | $0.08 | $0.32 | ||
| Q2 24 | $0.15 | $0.28 | ||
| Q1 24 | $0.17 | $0.24 |
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 | $2.0B |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $640.0M | $11.8B |
| 总资产 | $6.7B | $16.7B |
| 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AXLGFS
| Q4 25 | $708.9M | — | ||
| Q3 25 | $714.1M | $2.0B | ||
| Q2 25 | $586.5M | $1.8B | ||
| Q1 25 | $549.2M | $1.6B | ||
| Q4 24 | $552.9M | — | ||
| Q3 24 | $542.5M | $2.3B | ||
| Q2 24 | $519.9M | $2.2B | ||
| Q1 24 | $469.8M | $2.2B |
总债务AXLGFS
| 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AXLGFS
| Q4 25 | $640.0M | — | ||
| Q3 25 | $718.4M | $11.8B | ||
| Q2 25 | $673.0M | $11.5B | ||
| Q1 25 | $596.3M | $11.1B | ||
| Q4 24 | $562.8M | — | ||
| Q3 24 | $616.3M | $11.6B | ||
| Q2 24 | $609.6M | $11.3B | ||
| Q1 24 | $621.4M | $11.3B |
总资产AXLGFS
| Q4 25 | $6.7B | — | ||
| Q3 25 | $5.3B | $16.7B | ||
| Q2 25 | $5.3B | $16.8B | ||
| Q1 25 | $5.1B | $16.5B | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.3B | $18.1B | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.4B | — |
负债/权益比AXLGFS
| 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 | $595.0M |
| 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 | — | 2.39× |
| 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AXLGFS
| Q4 25 | $120.5M | — | ||
| Q3 25 | $143.3M | $595.0M | ||
| Q2 25 | $91.9M | $431.0M | ||
| Q1 25 | $55.9M | $331.0M | ||
| Q4 24 | $151.2M | — | ||
| Q3 24 | $143.6M | $375.0M | ||
| Q2 24 | $142.8M | $402.0M | ||
| Q1 24 | $17.8M | $488.0M |
自由现金流AXLGFS
| 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 | — |
自由现金流率AXLGFS
| 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% | — |
资本支出强度AXLGFS
| 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% | — |
现金转化率AXLGFS
| Q4 25 | — | — | ||
| Q3 25 | 15.58× | 2.39× | ||
| Q2 25 | 2.34× | 1.89× | ||
| Q1 25 | 7.87× | 1.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | 14.36× | 2.11× | ||
| Q2 24 | 7.85× | 2.59× | ||
| Q1 24 | 0.87× | 3.64× |
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% |
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
