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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与MUELLER INDUSTRIES INC（MLI）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MUELLER INDUSTRIES INC的1.4倍（$1.4B vs $962.4M），MUELLER INDUSTRIES INC净利率更高（16.0% vs -5.4%，领先21.4%），MUELLER INDUSTRIES INC同比增速更快（4.2% vs 0.2%），MUELLER INDUSTRIES INC自由现金流更多（$121.4M vs $54.7M），过去两年MUELLER INDUSTRIES INC的营收复合增速更高（6.4% 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。
Mueller Industries是美国知名工业制造企业，1917年正式成立，总部坐落于美国田纳西州孟菲斯市，主营管道产品、工业金属及暖通制冷设备，2022年入选《财富》1000强榜单，是年营收达数十亿美元的公开上市企业。
AXL vs MLI — 直观对比
营收规模更大
AXL
是对方的1.4倍
$962.4M
营收增速更快
MLI
高出4.0%
0.2%
净利率更高
MLI
高出21.4%
-5.4%
自由现金流更多
MLI
多$66.7M
$54.7M
两年增速更快
MLI
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $962.4M |
| 净利润 | $-75.3M | $153.7M |
| 毛利率 | 10.2% | — |
| 营业利润率 | -2.4% | 17.9% |
| 净利率 | -5.4% | 16.0% |
| 营收同比 | 0.2% | 4.2% |
| 净利润同比 | -449.6% | 11.7% |
| 每股收益（稀释后） | $-0.62 | $1.37 |
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AXLMLI
| Q4 25 | $1.4B | $962.4M | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.4B | $923.5M | ||
| Q3 24 | $1.5B | $997.8M | ||
| Q2 24 | $1.6B | $997.7M | ||
| Q1 24 | $1.6B | $849.7M |
净利润AXLMLI
| Q4 25 | $-75.3M | $153.7M | ||
| Q3 25 | $9.2M | $208.1M | ||
| Q2 25 | $39.3M | $245.9M | ||
| Q1 25 | $7.1M | $157.4M | ||
| Q4 24 | $-13.7M | $137.7M | ||
| Q3 24 | $10.0M | $168.7M | ||
| Q2 24 | $18.2M | $160.2M | ||
| Q1 24 | $20.5M | $138.4M |
毛利率AXLMLI
| Q4 25 | 10.2% | — | ||
| Q3 25 | 12.6% | — | ||
| Q2 25 | 13.1% | — | ||
| Q1 25 | 12.3% | — | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | 11.4% | 27.6% | ||
| Q2 24 | 13.3% | 27.3% | ||
| Q1 24 | 12.4% | 28.4% |
营业利润率AXLMLI
| Q4 25 | -2.4% | 17.9% | ||
| Q3 25 | 3.2% | 25.6% | ||
| Q2 25 | 3.6% | 26.7% | ||
| Q1 25 | 3.0% | 20.6% | ||
| Q4 24 | 2.6% | 18.4% | ||
| Q3 24 | 2.8% | 20.7% | ||
| Q2 24 | 5.3% | 21.0% | ||
| Q1 24 | 4.8% | 21.6% |
净利率AXLMLI
| Q4 25 | -5.4% | 16.0% | ||
| Q3 25 | 0.6% | 19.3% | ||
| Q2 25 | 2.6% | 21.6% | ||
| Q1 25 | 0.5% | 15.7% | ||
| Q4 24 | -1.0% | 14.9% | ||
| Q3 24 | 0.7% | 16.9% | ||
| Q2 24 | 1.1% | 16.1% | ||
| Q1 24 | 1.3% | 16.3% |
每股收益（稀释后）AXLMLI
| Q4 25 | $-0.62 | $1.37 | ||
| Q3 25 | $0.07 | $1.88 | ||
| Q2 25 | $0.32 | $2.22 | ||
| Q1 25 | $0.06 | $1.39 | ||
| Q4 24 | $-0.11 | $1.21 | ||
| Q3 24 | $0.08 | $1.48 | ||
| Q2 24 | $0.15 | $1.41 | ||
| Q1 24 | $0.17 | $1.21 |
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 | $1.4B |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $640.0M | $3.2B |
| 总资产 | $6.7B | $3.7B |
| 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AXLMLI
| Q4 25 | $708.9M | $1.4B | ||
| Q3 25 | $714.1M | $1.3B | ||
| Q2 25 | $586.5M | $1.1B | ||
| Q1 25 | $549.2M | $873.6M | ||
| Q4 24 | $552.9M | $1.1B | ||
| Q3 24 | $542.5M | $969.6M | ||
| Q2 24 | $519.9M | $825.7M | ||
| Q1 24 | $469.8M | $1.4B |
总债务AXLMLI
| 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AXLMLI
| Q4 25 | $640.0M | $3.2B | ||
| Q3 25 | $718.4M | $3.1B | ||
| Q2 25 | $673.0M | $2.9B | ||
| Q1 25 | $596.3M | $2.7B | ||
| Q4 24 | $562.8M | $2.8B | ||
| Q3 24 | $616.3M | $2.7B | ||
| Q2 24 | $609.6M | $2.5B | ||
| Q1 24 | $621.4M | $2.4B |
总资产AXLMLI
| Q4 25 | $6.7B | $3.7B | ||
| Q3 25 | $5.3B | $3.7B | ||
| Q2 25 | $5.3B | $3.5B | ||
| Q1 25 | $5.1B | $3.2B | ||
| Q4 24 | $5.1B | $3.3B | ||
| Q3 24 | $5.3B | $3.2B | ||
| Q2 24 | $5.3B | $3.1B | ||
| Q1 24 | $5.4B | $2.9B |
负债/权益比AXLMLI
| 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 | $141.2M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $121.4M |
| 自由现金流率自由现金流/营收 | 4.0% | 12.6% |
| 资本支出强度资本支出/营收 | 4.8% | 2.1% |
| 现金转化率经营现金流/净利润 | — | 0.92× |
| 过去12个月自由现金流最近4个季度 | $155.1M | $686.6M |
8季度趋势，按日历期对齐
经营现金流AXLMLI
| Q4 25 | $120.5M | $141.2M | ||
| Q3 25 | $143.3M | $310.1M | ||
| Q2 25 | $91.9M | $190.6M | ||
| Q1 25 | $55.9M | $113.6M | ||
| Q4 24 | $151.2M | $140.1M | ||
| Q3 24 | $143.6M | $231.4M | ||
| Q2 24 | $142.8M | $100.8M | ||
| Q1 24 | $17.8M | $173.6M |
自由现金流AXLMLI
| Q4 25 | $54.7M | $121.4M | ||
| Q3 25 | $79.2M | $291.8M | ||
| Q2 25 | $34.6M | $176.5M | ||
| Q1 25 | $-13.4M | $97.0M | ||
| Q4 24 | $73.2M | $111.2M | ||
| Q3 24 | $70.4M | $205.7M | ||
| Q2 24 | $94.0M | $91.6M | ||
| Q1 24 | $-30.2M | $157.2M |
自由现金流率AXLMLI
| Q4 25 | 4.0% | 12.6% | ||
| Q3 25 | 5.3% | 27.1% | ||
| Q2 25 | 2.3% | 15.5% | ||
| Q1 25 | -0.9% | 9.7% | ||
| Q4 24 | 5.3% | 12.0% | ||
| Q3 24 | 4.7% | 20.6% | ||
| Q2 24 | 5.8% | 9.2% | ||
| Q1 24 | -1.9% | 18.5% |
资本支出强度AXLMLI
| Q4 25 | 4.8% | 2.1% | ||
| Q3 25 | 4.3% | 1.7% | ||
| Q2 25 | 3.7% | 1.2% | ||
| Q1 25 | 4.9% | 1.7% | ||
| Q4 24 | 5.6% | 3.1% | ||
| Q3 24 | 4.9% | 2.6% | ||
| Q2 24 | 3.0% | 0.9% | ||
| Q1 24 | 3.0% | 1.9% |
现金转化率AXLMLI
| Q4 25 | — | 0.92× | ||
| Q3 25 | 15.58× | 1.49× | ||
| Q2 25 | 2.34× | 0.78× | ||
| Q1 25 | 7.87× | 0.72× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | 14.36× | 1.37× | ||
| Q2 24 | 7.85× | 0.63× | ||
| Q1 24 | 0.87× | 1.25× |
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% |
MLI
| Tube And Fittings | $484.6M | 50% |
| Industrial Metals | $252.2M | 26% |
| Valves And Plumbing Specialties | $122.5M | 13% |
| Flex Duct And Other HVAC Components | $80.8M | 8% |
| Other Products | $14.9M | 2% |
