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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与GRAPHIC PACKAGING HOLDING CO（GPK）财务数据对比。点击上方公司名可切换其他公司
GRAPHIC PACKAGING HOLDING CO的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.5倍（$2.1B vs $1.4B），GRAPHIC PACKAGING HOLDING CO净利率更高（3.4% vs -5.4%，领先8.8%），GRAPHIC PACKAGING HOLDING CO同比增速更快（0.2% vs 0.2%），过去两年GRAPHIC PACKAGING HOLDING CO的营收复合增速更高（-3.5% 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。
Graphic Packaging Holding是总部位于美国佐治亚州亚特兰大的世界500强企业，专注于设计和生产商用产品包装解决方案，主营纸板及折叠纸盒业务，产品广泛应用于饮料、包装食品等各类热门消费品领域，在美国多州运营采用回收原料的纸板工厂。
AXL vs GPK — 直观对比
营收规模更大
GPK
是对方的1.5倍
$1.4B
营收增速更快
GPK
高出0.0%
0.2%
净利率更高
GPK
高出8.8%
-5.4%
两年增速更快
GPK
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.1B |
| 净利润 | $-75.3M | $71.0M |
| 毛利率 | 10.2% | 14.1% |
| 营业利润率 | -2.4% | 7.4% |
| 净利率 | -5.4% | 3.4% |
| 营收同比 | 0.2% | 0.2% |
| 净利润同比 | -449.6% | -48.6% |
| 每股收益（稀释后） | $-0.62 | $0.24 |
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AXLGPK
| Q4 25 | $1.4B | $2.1B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.4B | $2.1B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.6B | $2.2B | ||
| Q1 24 | $1.6B | $2.3B |
净利润AXLGPK
| Q4 25 | $-75.3M | $71.0M | ||
| Q3 25 | $9.2M | $142.0M | ||
| Q2 25 | $39.3M | $104.0M | ||
| Q1 25 | $7.1M | $127.0M | ||
| Q4 24 | $-13.7M | $138.0M | ||
| Q3 24 | $10.0M | $165.0M | ||
| Q2 24 | $18.2M | $190.0M | ||
| Q1 24 | $20.5M | $165.0M |
毛利率AXLGPK
| Q4 25 | 10.2% | 14.1% | ||
| Q3 25 | 12.6% | 19.6% | ||
| Q2 25 | 13.1% | 18.7% | ||
| Q1 25 | 12.3% | 20.6% | ||
| Q4 24 | 11.2% | 21.4% | ||
| Q3 24 | 11.4% | 22.3% | ||
| Q2 24 | 13.3% | 21.2% | ||
| Q1 24 | 12.4% | 23.0% |
营业利润率AXLGPK
| Q4 25 | -2.4% | 7.4% | ||
| Q3 25 | 3.2% | 10.7% | ||
| Q2 25 | 3.6% | 8.8% | ||
| Q1 25 | 3.0% | 10.5% | ||
| Q4 24 | 2.6% | 11.4% | ||
| Q3 24 | 2.8% | 12.6% | ||
| Q2 24 | 5.3% | 14.5% | ||
| Q1 24 | 4.8% | 12.4% |
净利率AXLGPK
| Q4 25 | -5.4% | 3.4% | ||
| Q3 25 | 0.6% | 6.5% | ||
| Q2 25 | 2.6% | 4.7% | ||
| Q1 25 | 0.5% | 6.0% | ||
| Q4 24 | -1.0% | 6.6% | ||
| Q3 24 | 0.7% | 7.5% | ||
| Q2 24 | 1.1% | 8.5% | ||
| Q1 24 | 1.3% | 7.3% |
每股收益（稀释后）AXLGPK
| Q4 25 | $-0.62 | $0.24 | ||
| Q3 25 | $0.07 | $0.48 | ||
| Q2 25 | $0.32 | $0.34 | ||
| Q1 25 | $0.06 | $0.42 | ||
| Q4 24 | $-0.11 | $0.46 | ||
| Q3 24 | $0.08 | $0.55 | ||
| Q2 24 | $0.15 | $0.62 | ||
| Q1 24 | $0.17 | $0.53 |
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 | $261.0M |
| 总债务越低越好 | $4.0B | $5.0B |
| 股东权益账面价值 | $640.0M | $3.3B |
| 总资产 | $6.7B | $11.8B |
| 负债/权益比越低杠杆越低 | 6.31× | 1.51× |
8季度趋势，按日历期对齐
现金及短期投资AXLGPK
| Q4 25 | $708.9M | $261.0M | ||
| Q3 25 | $714.1M | $120.0M | ||
| Q2 25 | $586.5M | $120.0M | ||
| Q1 25 | $549.2M | $129.0M | ||
| Q4 24 | $552.9M | $157.0M | ||
| Q3 24 | $542.5M | $126.0M | ||
| Q2 24 | $519.9M | $125.0M | ||
| Q1 24 | $469.8M | $136.0M |
总债务AXLGPK
| Q4 25 | $4.0B | $5.0B | ||
| Q3 25 | $2.6B | $5.5B | ||
| Q2 25 | $2.6B | $5.4B | ||
| Q1 25 | $2.6B | $5.7B | ||
| Q4 24 | $2.6B | $5.1B | ||
| Q3 24 | $2.6B | $5.4B | ||
| Q2 24 | $2.7B | $4.9B | ||
| Q1 24 | $2.7B | $4.9B |
股东权益AXLGPK
| Q4 25 | $640.0M | $3.3B | ||
| Q3 25 | $718.4M | $3.3B | ||
| Q2 25 | $673.0M | $3.2B | ||
| Q1 25 | $596.3M | $3.2B | ||
| Q4 24 | $562.8M | $3.0B | ||
| Q3 24 | $616.3M | $3.0B | ||
| Q2 24 | $609.6M | $2.8B | ||
| Q1 24 | $621.4M | $2.9B |
总资产AXLGPK
| Q4 25 | $6.7B | $11.8B | ||
| Q3 25 | $5.3B | $11.9B | ||
| Q2 25 | $5.3B | $11.8B | ||
| Q1 25 | $5.1B | $11.5B | ||
| Q4 24 | $5.1B | $11.1B | ||
| Q3 24 | $5.3B | $11.2B | ||
| Q2 24 | $5.3B | $10.8B | ||
| Q1 24 | $5.4B | $11.3B |
负债/权益比AXLGPK
| Q4 25 | 6.31× | 1.51× | ||
| Q3 25 | 3.61× | 1.67× | ||
| Q2 25 | 3.86× | 1.68× | ||
| Q1 25 | 4.38× | 1.80× | ||
| Q4 24 | 4.58× | 1.71× | ||
| Q3 24 | 4.28× | 1.79× | ||
| Q2 24 | 4.42× | 1.75× | ||
| Q1 24 | 4.40× | 1.73× |
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 | $521.0M |
| 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 | — | 7.34× |
| 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AXLGPK
| Q4 25 | $120.5M | $521.0M | ||
| Q3 25 | $143.3M | $227.0M | ||
| Q2 25 | $91.9M | $267.0M | ||
| Q1 25 | $55.9M | $-174.0M | ||
| Q4 24 | $151.2M | $489.0M | ||
| Q3 24 | $143.6M | $187.0M | ||
| Q2 24 | $142.8M | $161.0M | ||
| Q1 24 | $17.8M | $3.0M |
自由现金流AXLGPK
| 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AXLGPK
| 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AXLGPK
| 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AXLGPK
| Q4 25 | — | 7.34× | ||
| Q3 25 | 15.58× | 1.60× | ||
| Q2 25 | 2.34× | 2.57× | ||
| Q1 25 | 7.87× | -1.37× | ||
| Q4 24 | — | 3.54× | ||
| Q3 24 | 14.36× | 1.13× | ||
| Q2 24 | 7.85× | 0.85× | ||
| Q1 24 | 0.87× | 0.02× |
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% |
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
