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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与OLD REPUBLIC INTERNATIONAL CORP（ORI）财务数据对比。点击上方公司名可切换其他公司
OLD REPUBLIC INTERNATIONAL CORP的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.7倍（$2.4B vs $1.4B），OLD REPUBLIC INTERNATIONAL CORP净利率更高（13.8% vs -5.4%，领先19.2%），OLD REPUBLIC INTERNATIONAL CORP同比增速更快（6.7% vs 0.2%），过去两年OLD REPUBLIC INTERNATIONAL CORP的营收复合增速更高（13.2% 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。
Old Republic International Corp是一家总部位于美国伊利诺伊州芝加哥的保险企业，核心业务覆盖财产保险、产权保险两大领域，深耕行业多年，具备成熟的风险防控能力与完善的服务体系，可为各类客户提供专业可靠的保险产品及相关解决方案。
AXL vs ORI — 直观对比
营收规模更大
ORI
是对方的1.7倍
$1.4B
营收增速更快
ORI
高出6.5%
0.2%
净利率更高
ORI
高出19.2%
-5.4%
两年增速更快
ORI
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.4B |
| 净利润 | $-75.3M | $330.0M |
| 毛利率 | 10.2% | — |
| 营业利润率 | -2.4% | — |
| 净利率 | -5.4% | 13.8% |
| 营收同比 | 0.2% | 6.7% |
| 净利润同比 | -449.6% | — |
| 每股收益（稀释后） | $-0.62 | — |
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AXLORI
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.4B | $2.4B | ||
| Q3 25 | $1.5B | $2.4B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.4B | $2.0B | ||
| Q3 24 | $1.5B | $2.3B | ||
| Q2 24 | $1.6B | $1.9B |
净利润AXLORI
| Q1 26 | — | $330.0M | ||
| Q4 25 | $-75.3M | $206.5M | ||
| Q3 25 | $9.2M | $279.5M | ||
| Q2 25 | $39.3M | $204.4M | ||
| Q1 25 | $7.1M | $245.0M | ||
| Q4 24 | $-13.7M | $105.3M | ||
| Q3 24 | $10.0M | $338.9M | ||
| Q2 24 | $18.2M | $91.8M |
毛利率AXLORI
| Q1 26 | — | — | ||
| 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% | — |
营业利润率AXLORI
| Q1 26 | — | — | ||
| Q4 25 | -2.4% | — | ||
| Q3 25 | 3.2% | 14.6% | ||
| Q2 25 | 3.6% | 11.8% | ||
| Q1 25 | 3.0% | 14.6% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 2.8% | 18.2% | ||
| Q2 24 | 5.3% | 6.1% |
净利率AXLORI
| Q1 26 | — | 13.8% | ||
| Q4 25 | -5.4% | 8.6% | ||
| Q3 25 | 0.6% | 11.5% | ||
| Q2 25 | 2.6% | 9.3% | ||
| Q1 25 | 0.5% | 11.6% | ||
| Q4 24 | -1.0% | 5.3% | ||
| Q3 24 | 0.7% | 14.5% | ||
| Q2 24 | 1.1% | 4.9% |
每股收益（稀释后）AXLORI
| Q1 26 | — | — | ||
| Q4 25 | $-0.62 | $0.82 | ||
| Q3 25 | $0.07 | $1.11 | ||
| Q2 25 | $0.32 | $0.81 | ||
| Q1 25 | $0.06 | $0.98 | ||
| Q4 24 | $-0.11 | $0.42 | ||
| Q3 24 | $0.08 | $1.32 | ||
| Q2 24 | $0.15 | $0.35 |
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 | — |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $640.0M | $5.9M |
| 总资产 | $6.7B | $29.6M |
| 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AXLORI
| Q1 26 | — | — | ||
| Q4 25 | $708.9M | — | ||
| Q3 25 | $714.1M | — | ||
| Q2 25 | $586.5M | — | ||
| Q1 25 | $549.2M | — | ||
| Q4 24 | $552.9M | — | ||
| Q3 24 | $542.5M | — | ||
| Q2 24 | $519.9M | — |
总债务AXLORI
| Q1 26 | — | — | ||
| 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 | — |
股东权益AXLORI
| Q1 26 | — | $5.9M | ||
| Q4 25 | $640.0M | $5.9B | ||
| Q3 25 | $718.4M | $6.4B | ||
| Q2 25 | $673.0M | $6.2B | ||
| Q1 25 | $596.3M | $5.9B | ||
| Q4 24 | $562.8M | $5.6B | ||
| Q3 24 | $616.3M | $6.4B | ||
| Q2 24 | $609.6M | $6.0B |
总资产AXLORI
| Q1 26 | — | $29.6M | ||
| Q4 25 | $6.7B | $29.9B | ||
| Q3 25 | $5.3B | $30.3B | ||
| Q2 25 | $5.3B | $29.3B | ||
| Q1 25 | $5.1B | $28.0B | ||
| Q4 24 | $5.1B | $27.8B | ||
| Q3 24 | $5.3B | $28.8B | ||
| Q2 24 | $5.3B | $27.5B |
负债/权益比AXLORI
| Q1 26 | — | — | ||
| 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× | — |
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 | — |
| 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 | — | — |
| 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AXLORI
| Q1 26 | — | — | ||
| Q4 25 | $120.5M | $234.9M | ||
| Q3 25 | $143.3M | $563.9M | ||
| Q2 25 | $91.9M | $133.8M | ||
| Q1 25 | $55.9M | $231.7M | ||
| Q4 24 | $151.2M | $361.7M | ||
| Q3 24 | $143.6M | $474.8M | ||
| Q2 24 | $142.8M | $236.5M |
自由现金流AXLORI
| Q1 26 | — | — | ||
| 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 | — |
自由现金流率AXLORI
| Q1 26 | — | — | ||
| 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% | — |
资本支出强度AXLORI
| Q1 26 | — | — | ||
| 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% | — |
现金转化率AXLORI
| Q1 26 | — | — | ||
| Q4 25 | — | 1.14× | ||
| Q3 25 | 15.58× | 2.02× | ||
| Q2 25 | 2.34× | 0.65× | ||
| Q1 25 | 7.87× | 0.95× | ||
| Q4 24 | — | 3.43× | ||
| Q3 24 | 14.36× | 1.40× | ||
| Q2 24 | 7.85× | 2.58× |
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% |
ORI
| operating | $2.2B | 92% |
| net investment gains | $201.8M | 8% |
