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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与埃培智集团（IPG）财务数据对比。点击上方公司名可切换其他公司
埃培智集团的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.5倍（$2.1B vs $1.4B），埃培智集团净利率更高（5.8% vs -5.4%，领先11.3%），AMERICAN AXLE & MANUFACTURING HOLDINGS INC同比增速更快（0.2% vs -4.8%），埃培智集团自由现金流更多（$153.6M vs $54.7M），过去两年AMERICAN AXLE & MANUFACTURING HOLDINGS INC的营收复合增速更高（-7.2% vs -9.1%）
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。
埃培智集团（IPG）是总部位于美国纽约的广告营销传播集团，旗下拥有FCB、IPG盟博、麦肯世界集团、睿狮集团等五大核心业务网络，以及公关、体育营销、艺人经纪、医疗营销等领域的多家专业独立代理商，被宏盟收购前是与WPP、阳狮、宏盟齐名的全球广告行业“四大集团”之一。
AXL vs IPG — 直观对比
营收规模更大
IPG
是对方的1.5倍
$1.4B
营收增速更快
AXL
高出5.0%
-4.8%
净利率更高
IPG
高出11.3%
-5.4%
自由现金流更多
IPG
多$98.9M
$54.7M
两年增速更快
AXL
近两年复合增速
-9.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.1B |
| 净利润 | $-75.3M | $124.2M |
| 毛利率 | 10.2% | — |
| 营业利润率 | -2.4% | 10.3% |
| 净利率 | -5.4% | 5.8% |
| 营收同比 | 0.2% | -4.8% |
| 净利润同比 | -449.6% | 517.9% |
| 每股收益（稀释后） | $-0.62 | $0.34 |
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AXLIPG
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.4B | $2.4B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.6B | $2.3B | ||
| Q1 24 | $1.6B | $2.2B |
净利润AXLIPG
| Q4 25 | $-75.3M | — | ||
| Q3 25 | $9.2M | $124.2M | ||
| Q2 25 | $39.3M | $162.5M | ||
| Q1 25 | $7.1M | $-85.4M | ||
| Q4 24 | $-13.7M | $344.5M | ||
| Q3 24 | $10.0M | $20.1M | ||
| Q2 24 | $18.2M | $214.5M | ||
| Q1 24 | $20.5M | $110.4M |
毛利率AXLIPG
| Q4 25 | 10.2% | — | ||
| Q3 25 | 12.6% | — | ||
| Q2 25 | 13.1% | — | ||
| Q1 25 | 12.3% | -3.2% | ||
| Q4 24 | 11.2% | 10.1% | ||
| Q3 24 | 11.4% | 2.9% | ||
| Q2 24 | 13.3% | 1.2% | ||
| Q1 24 | 12.4% | -1.1% |
营业利润率AXLIPG
| Q4 25 | -2.4% | — | ||
| Q3 25 | 3.2% | 10.3% | ||
| Q2 25 | 3.6% | 11.2% | ||
| Q1 25 | 3.0% | -2.1% | ||
| Q4 24 | 2.6% | 23.3% | ||
| Q3 24 | 2.8% | 5.9% | ||
| Q2 24 | 5.3% | 13.7% | ||
| Q1 24 | 4.8% | 8.4% |
净利率AXLIPG
| Q4 25 | -5.4% | — | ||
| Q3 25 | 0.6% | 5.8% | ||
| Q2 25 | 2.6% | 7.5% | ||
| Q1 25 | 0.5% | -4.3% | ||
| Q4 24 | -1.0% | 14.1% | ||
| Q3 24 | 0.7% | 0.9% | ||
| Q2 24 | 1.1% | 9.2% | ||
| Q1 24 | 1.3% | 5.1% |
每股收益（稀释后）AXLIPG
| Q4 25 | $-0.62 | — | ||
| Q3 25 | $0.07 | $0.34 | ||
| Q2 25 | $0.32 | $0.44 | ||
| Q1 25 | $0.06 | $-0.23 | ||
| Q4 24 | $-0.11 | $0.92 | ||
| Q3 24 | $0.08 | $0.05 | ||
| Q2 24 | $0.15 | $0.57 | ||
| Q1 24 | $0.17 | $0.29 |
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 | $1.5B |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $640.0M | $3.7B |
| 总资产 | $6.7B | $17.0B |
| 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AXLIPG
| Q4 25 | $708.9M | — | ||
| Q3 25 | $714.1M | $1.5B | ||
| Q2 25 | $586.5M | $1.6B | ||
| Q1 25 | $549.2M | $1.9B | ||
| Q4 24 | $552.9M | $2.2B | ||
| Q3 24 | $542.5M | $1.5B | ||
| Q2 24 | $519.9M | $1.5B | ||
| Q1 24 | $469.8M | $1.9B |
总债务AXLIPG
| 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AXLIPG
| Q4 25 | $640.0M | — | ||
| Q3 25 | $718.4M | $3.7B | ||
| Q2 25 | $673.0M | $3.7B | ||
| Q1 25 | $596.3M | $3.6B | ||
| Q4 24 | $562.8M | $3.8B | ||
| Q3 24 | $616.3M | $3.7B | ||
| Q2 24 | $609.6M | $3.8B | ||
| Q1 24 | $621.4M | $3.8B |
总资产AXLIPG
| Q4 25 | $6.7B | — | ||
| Q3 25 | $5.3B | $17.0B | ||
| Q2 25 | $5.3B | $17.0B | ||
| Q1 25 | $5.1B | $17.1B | ||
| Q4 24 | $5.1B | $18.3B | ||
| Q3 24 | $5.3B | $17.1B | ||
| Q2 24 | $5.3B | $17.0B | ||
| Q1 24 | $5.4B | $17.3B |
负债/权益比AXLIPG
| 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 | $180.1M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $153.6M |
| 自由现金流率自由现金流/营收 | 4.0% | 7.2% |
| 资本支出强度资本支出/营收 | 4.8% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 1.45× |
| 过去12个月自由现金流最近4个季度 | $155.1M | $806.8M |
8季度趋势，按日历期对齐
经营现金流AXLIPG
| Q4 25 | $120.5M | — | ||
| Q3 25 | $143.3M | $180.1M | ||
| Q2 25 | $91.9M | $-96.0M | ||
| Q1 25 | $55.9M | $-37.0M | ||
| Q4 24 | $151.2M | $868.1M | ||
| Q3 24 | $143.6M | $223.8M | ||
| Q2 24 | $142.8M | $120.7M | ||
| Q1 24 | $17.8M | $-157.4M |
自由现金流AXLIPG
| Q4 25 | $54.7M | — | ||
| Q3 25 | $79.2M | $153.6M | ||
| Q2 25 | $34.6M | $-121.8M | ||
| Q1 25 | $-13.4M | $-58.5M | ||
| Q4 24 | $73.2M | $833.5M | ||
| Q3 24 | $70.4M | $186.5M | ||
| Q2 24 | $94.0M | $85.9M | ||
| Q1 24 | $-30.2M | $-192.5M |
自由现金流率AXLIPG
| Q4 25 | 4.0% | — | ||
| Q3 25 | 5.3% | 7.2% | ||
| Q2 25 | 2.3% | -5.6% | ||
| Q1 25 | -0.9% | -2.9% | ||
| Q4 24 | 5.3% | 34.2% | ||
| Q3 24 | 4.7% | 8.3% | ||
| Q2 24 | 5.8% | 3.7% | ||
| Q1 24 | -1.9% | -8.8% |
资本支出强度AXLIPG
| Q4 25 | 4.8% | — | ||
| Q3 25 | 4.3% | 1.2% | ||
| Q2 25 | 3.7% | 1.2% | ||
| Q1 25 | 4.9% | 1.1% | ||
| Q4 24 | 5.6% | 1.4% | ||
| Q3 24 | 4.9% | 1.7% | ||
| Q2 24 | 3.0% | 1.5% | ||
| Q1 24 | 3.0% | 1.6% |
现金转化率AXLIPG
| Q4 25 | — | — | ||
| Q3 25 | 15.58× | 1.45× | ||
| Q2 25 | 2.34× | -0.59× | ||
| Q1 25 | 7.87× | — | ||
| Q4 24 | — | 2.52× | ||
| Q3 24 | 14.36× | 11.13× | ||
| Q2 24 | 7.85× | 0.56× | ||
| Q1 24 | 0.87× | -1.43× |
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% |
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
