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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与Graham Holdings Co（GHC）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Graham Holdings Co的1.1倍（$1.4B vs $1.3B），Graham Holdings Co净利率更高（8.7% vs -5.4%，领先14.1%），Graham Holdings Co同比增速更快（0.4% vs 0.2%），AMERICAN AXLE & MANUFACTURING HOLDINGS INC自由现金流更多（$54.7M vs $5.0M），过去两年Graham Holdings Co的营收复合增速更高（4.2% 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。
Graham Holdings是一家总部位于美国弗吉尼亚州阿灵顿县、在特拉华州注册的多元化综合控股集团，曾持有知名媒体《华盛顿邮报》与《新闻周刊》的所有权，旗下业务覆盖多个领域，在北美市场拥有深厚的行业运营积淀。
AXL vs GHC — 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
GHC
高出0.2%
0.2%
净利率更高
GHC
高出14.1%
-5.4%
自由现金流更多
AXL
多$49.7M
$5.0M
两年增速更快
GHC
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.3B |
| 净利润 | $-75.3M | $108.7M |
| 毛利率 | 10.2% | — |
| 营业利润率 | -2.4% | 3.8% |
| 净利率 | -5.4% | 8.7% |
| 营收同比 | 0.2% | 0.4% |
| 净利润同比 | -449.6% | -80.2% |
| 每股收益（稀释后） | $-0.62 | $24.76 |
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AXLGHC
| Q4 25 | $1.4B | $1.3B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.6B | $1.2B |
净利润AXLGHC
| Q4 25 | $-75.3M | $108.7M | ||
| Q3 25 | $9.2M | $122.9M | ||
| Q2 25 | $39.3M | $36.7M | ||
| Q1 25 | $7.1M | $23.9M | ||
| Q4 24 | $-13.7M | $548.8M | ||
| Q3 24 | $10.0M | $72.5M | ||
| Q2 24 | $18.2M | $-21.0M | ||
| Q1 24 | $20.5M | $124.4M |
毛利率AXLGHC
| 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AXLGHC
| Q4 25 | -2.4% | 3.8% | ||
| Q3 25 | 3.2% | 5.2% | ||
| Q2 25 | 3.6% | 6.0% | ||
| Q1 25 | 3.0% | 4.1% | ||
| Q4 24 | 2.6% | 5.8% | ||
| Q3 24 | 2.8% | 6.8% | ||
| Q2 24 | 5.3% | 2.2% | ||
| Q1 24 | 4.8% | 3.1% |
净利率AXLGHC
| Q4 25 | -5.4% | 8.7% | ||
| Q3 25 | 0.6% | 9.6% | ||
| Q2 25 | 2.6% | 3.0% | ||
| Q1 25 | 0.5% | 2.0% | ||
| Q4 24 | -1.0% | 44.1% | ||
| Q3 24 | 0.7% | 6.0% | ||
| Q2 24 | 1.1% | -1.8% | ||
| Q1 24 | 1.3% | 10.8% |
每股收益（稀释后）AXLGHC
| Q4 25 | $-0.62 | $24.76 | ||
| Q3 25 | $0.07 | $27.91 | ||
| Q2 25 | $0.32 | $8.35 | ||
| Q1 25 | $0.06 | $5.45 | ||
| Q4 24 | $-0.11 | $124.05 | ||
| Q3 24 | $0.08 | $16.42 | ||
| Q2 24 | $0.15 | $-4.79 | ||
| Q1 24 | $0.17 | $27.72 |
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 | $267.0M |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $640.0M | $4.8B |
| 总资产 | $6.7B | $8.4B |
| 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AXLGHC
| Q4 25 | $708.9M | $267.0M | ||
| Q3 25 | $714.1M | $190.8M | ||
| Q2 25 | $586.5M | $176.2M | ||
| Q1 25 | $549.2M | $156.7M | ||
| Q4 24 | $552.9M | $260.9M | ||
| Q3 24 | $542.5M | $244.4M | ||
| Q2 24 | $519.9M | $140.7M | ||
| Q1 24 | $469.8M | $130.9M |
总债务AXLGHC
| 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AXLGHC
| Q4 25 | $640.0M | $4.8B | ||
| Q3 25 | $718.4M | $4.5B | ||
| Q2 25 | $673.0M | $4.4B | ||
| Q1 25 | $596.3M | $4.3B | ||
| Q4 24 | $562.8M | $4.3B | ||
| Q3 24 | $616.3M | $4.0B | ||
| Q2 24 | $609.6M | $4.0B | ||
| Q1 24 | $621.4M | $4.0B |
总资产AXLGHC
| Q4 25 | $6.7B | $8.4B | ||
| Q3 25 | $5.3B | $7.9B | ||
| Q2 25 | $5.3B | $7.6B | ||
| Q1 25 | $5.1B | $7.6B | ||
| Q4 24 | $5.1B | $7.7B | ||
| Q3 24 | $5.3B | $7.4B | ||
| Q2 24 | $5.3B | $7.2B | ||
| Q1 24 | $5.4B | $7.3B |
负债/权益比AXLGHC
| 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 | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $5.0M |
| 自由现金流率自由现金流/营收 | 4.0% | 0.4% |
| 资本支出强度资本支出/营收 | 4.8% | 1.9% |
| 现金转化率经营现金流/净利润 | — | 0.26× |
| 过去12个月自由现金流最近4个季度 | $155.1M | $275.3M |
8季度趋势，按日历期对齐
经营现金流AXLGHC
| Q4 25 | $120.5M | $28.3M | ||
| Q3 25 | $143.3M | $178.1M | ||
| Q2 25 | $91.9M | $94.8M | ||
| Q1 25 | $55.9M | $46.0M | ||
| Q4 24 | $151.2M | $116.3M | ||
| Q3 24 | $143.6M | $237.6M | ||
| Q2 24 | $142.8M | $52.0M | ||
| Q1 24 | $17.8M | $1.1M |
自由现金流AXLGHC
| Q4 25 | $54.7M | $5.0M | ||
| Q3 25 | $79.2M | $161.8M | ||
| Q2 25 | $34.6M | $78.0M | ||
| Q1 25 | $-13.4M | $30.5M | ||
| Q4 24 | $73.2M | $91.1M | ||
| Q3 24 | $70.4M | $219.4M | ||
| Q2 24 | $94.0M | $33.7M | ||
| Q1 24 | $-30.2M | $-20.2M |
自由现金流率AXLGHC
| Q4 25 | 4.0% | 0.4% | ||
| Q3 25 | 5.3% | 12.6% | ||
| Q2 25 | 2.3% | 6.4% | ||
| Q1 25 | -0.9% | 2.6% | ||
| Q4 24 | 5.3% | 7.3% | ||
| Q3 24 | 4.7% | 18.2% | ||
| Q2 24 | 5.8% | 2.8% | ||
| Q1 24 | -1.9% | -1.8% |
资本支出强度AXLGHC
| Q4 25 | 4.8% | 1.9% | ||
| Q3 25 | 4.3% | 1.3% | ||
| Q2 25 | 3.7% | 1.4% | ||
| Q1 25 | 4.9% | 1.3% | ||
| Q4 24 | 5.6% | 2.0% | ||
| Q3 24 | 4.9% | 1.5% | ||
| Q2 24 | 3.0% | 1.5% | ||
| Q1 24 | 3.0% | 1.8% |
现金转化率AXLGHC
| Q4 25 | — | 0.26× | ||
| Q3 25 | 15.58× | 1.45× | ||
| Q2 25 | 2.34× | 2.58× | ||
| Q1 25 | 7.87× | 1.93× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | 14.36× | 3.28× | ||
| Q2 24 | 7.85× | — | ||
| Q1 24 | 0.87× | 0.01× |
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% |
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
