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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与欧文斯科宁（OC）财务数据对比。点击上方公司名可切换其他公司
欧文斯科宁的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.5倍（$2.1B vs $1.4B），AMERICAN AXLE & MANUFACTURING HOLDINGS INC净利率更高（-5.4% vs -13.9%，领先8.5%），AMERICAN AXLE & MANUFACTURING HOLDINGS INC同比增速更快（0.2% vs -24.6%），欧文斯科宁自由现金流更多（$333.0M vs $54.7M），过去两年欧文斯科宁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。
欧文斯科宁是美国知名建材及复合材料企业，1935年由康宁玻璃厂与欧文斯-伊利诺伊公司合资组建。主营保温材料、屋面材料、玻璃纤维复合材料及相关产品，是全球最大的玻璃纤维复合材料生产商，全球员工约1.9万人，自1955年《财富》500强榜单创立以来连年上榜。
AXL vs OC — 直观对比
营收规模更大
OC
是对方的1.5倍
$1.4B
营收增速更快
AXL
高出24.8%
-24.6%
净利率更高
AXL
高出8.5%
-13.9%
自由现金流更多
OC
多$278.3M
$54.7M
两年增速更快
OC
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 | $-298.0M |
| 毛利率 | 10.2% | 23.2% |
| 营业利润率 | -2.4% | -10.5% |
| 净利率 | -5.4% | -13.9% |
| 营收同比 | 0.2% | -24.6% |
| 净利润同比 | -449.6% | -15.5% |
| 每股收益（稀释后） | $-0.62 | $-3.47 |
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AXLOC
| Q4 25 | $1.4B | $2.1B | ||
| Q3 25 | $1.5B | $2.7B | ||
| Q2 25 | $1.5B | $2.7B | ||
| Q1 25 | $1.4B | $2.5B | ||
| Q4 24 | $1.4B | $2.8B | ||
| Q3 24 | $1.5B | $3.0B | ||
| Q2 24 | $1.6B | $2.8B | ||
| Q1 24 | $1.6B | $2.3B |
净利润AXLOC
| Q4 25 | $-75.3M | $-298.0M | ||
| Q3 25 | $9.2M | $-494.0M | ||
| Q2 25 | $39.3M | $363.0M | ||
| Q1 25 | $7.1M | $-93.0M | ||
| Q4 24 | $-13.7M | $-258.0M | ||
| Q3 24 | $10.0M | $321.0M | ||
| Q2 24 | $18.2M | $285.0M | ||
| Q1 24 | $20.5M | $299.0M |
毛利率AXLOC
| Q4 25 | 10.2% | 23.2% | ||
| Q3 25 | 12.6% | 28.2% | ||
| Q2 25 | 13.1% | 31.2% | ||
| Q1 25 | 12.3% | 28.7% | ||
| Q4 24 | 11.2% | 28.1% | ||
| Q3 24 | 11.4% | 29.8% | ||
| Q2 24 | 13.3% | 31.1% | ||
| Q1 24 | 12.4% | 29.6% |
营业利润率AXLOC
| Q4 25 | -2.4% | -10.5% | ||
| Q3 25 | 3.2% | -12.2% | ||
| Q2 25 | 3.6% | 18.4% | ||
| Q1 25 | 3.0% | 16.1% | ||
| Q4 24 | 2.6% | -8.5% | ||
| Q3 24 | 2.8% | 16.7% | ||
| Q2 24 | 5.3% | 16.4% | ||
| Q1 24 | 4.8% | 17.5% |
净利率AXLOC
| Q4 25 | -5.4% | -13.9% | ||
| Q3 25 | 0.6% | -18.4% | ||
| Q2 25 | 2.6% | 13.2% | ||
| Q1 25 | 0.5% | -3.7% | ||
| Q4 24 | -1.0% | -9.1% | ||
| Q3 24 | 0.7% | 10.5% | ||
| Q2 24 | 1.1% | 10.2% | ||
| Q1 24 | 1.3% | 13.0% |
每股收益（稀释后）AXLOC
| Q4 25 | $-0.62 | $-3.47 | ||
| Q3 25 | $0.07 | $-5.92 | ||
| Q2 25 | $0.32 | $4.25 | ||
| Q1 25 | $0.06 | $-1.08 | ||
| Q4 24 | $-0.11 | $-2.92 | ||
| Q3 24 | $0.08 | $3.65 | ||
| Q2 24 | $0.15 | $3.24 | ||
| Q1 24 | $0.17 | $3.40 |
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 | $345.0M |
| 总债务越低越好 | $4.0B | $4.7B |
| 股东权益账面价值 | $640.0M | $3.9B |
| 总资产 | $6.7B | $13.0B |
| 负债/权益比越低杠杆越低 | 6.31× | 1.22× |
8季度趋势，按日历期对齐
现金及短期投资AXLOC
| Q4 25 | $708.9M | $345.0M | ||
| Q3 25 | $714.1M | $286.0M | ||
| Q2 25 | $586.5M | $230.0M | ||
| Q1 25 | $549.2M | $400.0M | ||
| Q4 24 | $552.9M | $361.0M | ||
| Q3 24 | $542.5M | $499.0M | ||
| Q2 24 | $519.9M | $254.0M | ||
| Q1 24 | $469.8M | $1.3B |
总债务AXLOC
| Q4 25 | $4.0B | $4.7B | ||
| Q3 25 | $2.6B | $4.7B | ||
| Q2 25 | $2.6B | $5.1B | ||
| Q1 25 | $2.6B | $5.0B | ||
| Q4 24 | $2.6B | $5.1B | ||
| Q3 24 | $2.6B | $5.0B | ||
| Q2 24 | $2.7B | $5.0B | ||
| Q1 24 | $2.7B | $2.6B |
股东权益AXLOC
| Q4 25 | $640.0M | $3.9B | ||
| Q3 25 | $718.4M | $4.4B | ||
| Q2 25 | $673.0M | $5.2B | ||
| Q1 25 | $596.3M | $4.9B | ||
| Q4 24 | $562.8M | $5.1B | ||
| Q3 24 | $616.3M | $5.6B | ||
| Q2 24 | $609.6M | $5.5B | ||
| Q1 24 | $621.4M | $5.2B |
总资产AXLOC
| Q4 25 | $6.7B | $13.0B | ||
| Q3 25 | $5.3B | $13.5B | ||
| Q2 25 | $5.3B | $14.5B | ||
| Q1 25 | $5.1B | $14.3B | ||
| Q4 24 | $5.1B | $14.1B | ||
| Q3 24 | $5.3B | $15.1B | ||
| Q2 24 | $5.3B | $15.0B | ||
| Q1 24 | $5.4B | $11.3B |
负债/权益比AXLOC
| Q4 25 | 6.31× | 1.22× | ||
| Q3 25 | 3.61× | 1.06× | ||
| Q2 25 | 3.86× | 0.98× | ||
| Q1 25 | 4.38× | 1.03× | ||
| Q4 24 | 4.58× | 1.01× | ||
| Q3 24 | 4.28× | 0.89× | ||
| Q2 24 | 4.42× | 0.92× | ||
| Q1 24 | 4.40× | 0.51× |
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 | $590.0M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $333.0M |
| 自由现金流率自由现金流/营收 | 4.0% | 15.5% |
| 资本支出强度资本支出/营收 | 4.8% | 12.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $155.1M | $962.0M |
8季度趋势，按日历期对齐
经营现金流AXLOC
| Q4 25 | $120.5M | $590.0M | ||
| Q3 25 | $143.3M | $918.0M | ||
| Q2 25 | $91.9M | $327.0M | ||
| Q1 25 | $55.9M | $-49.0M | ||
| Q4 24 | $151.2M | $676.0M | ||
| Q3 24 | $143.6M | $699.0M | ||
| Q2 24 | $142.8M | $493.0M | ||
| Q1 24 | $17.8M | $24.0M |
自由现金流AXLOC
| Q4 25 | $54.7M | $333.0M | ||
| Q3 25 | $79.2M | $752.0M | ||
| Q2 25 | $34.6M | $129.0M | ||
| Q1 25 | $-13.4M | $-252.0M | ||
| Q4 24 | $73.2M | $479.0M | ||
| Q3 24 | $70.4M | $558.0M | ||
| Q2 24 | $94.0M | $336.0M | ||
| Q1 24 | $-30.2M | $-128.0M |
自由现金流率AXLOC
| Q4 25 | 4.0% | 15.5% | ||
| Q3 25 | 5.3% | 28.0% | ||
| Q2 25 | 2.3% | 4.7% | ||
| Q1 25 | -0.9% | -10.0% | ||
| Q4 24 | 5.3% | 16.9% | ||
| Q3 24 | 4.7% | 18.3% | ||
| Q2 24 | 5.8% | 12.0% | ||
| Q1 24 | -1.9% | -5.6% |
资本支出强度AXLOC
| Q4 25 | 4.8% | 12.0% | ||
| Q3 25 | 4.3% | 6.2% | ||
| Q2 25 | 3.7% | 7.2% | ||
| Q1 25 | 4.9% | 8.0% | ||
| Q4 24 | 5.6% | 6.9% | ||
| Q3 24 | 4.9% | 4.6% | ||
| Q2 24 | 3.0% | 5.6% | ||
| Q1 24 | 3.0% | 6.6% |
现金转化率AXLOC
| Q4 25 | — | — | ||
| Q3 25 | 15.58× | — | ||
| Q2 25 | 2.34× | 0.90× | ||
| Q1 25 | 7.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 14.36× | 2.18× | ||
| Q2 24 | 7.85× | 1.73× | ||
| Q1 24 | 0.87× | 0.08× |
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% |
OC
| Insulation | $724.0M | 34% |
| Residential | $625.0M | 29% |
| Doors | $427.0M | 20% |
| Discontinued Operations Disposed Of By Sale | $299.0M | 14% |
| Commercial And Industrial Sector | $101.0M | 5% |
