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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与SBA Communications（SBAC）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SBA Communications的2.0倍（$1.4B vs $703.4M），SBA Communications净利率更高（26.3% vs -5.4%，领先31.7%），AMERICAN AXLE & MANUFACTURING HOLDINGS INC同比增速更快（0.2% vs -1.6%），过去两年SBA Communications的营收复合增速更高（3.2% 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。
SBA Communications是一家房地产投资信托企业，核心业务为持有、运营无线通信基础设施，市场覆盖美国、加拿大、中南美洲及南非地区。公司由Steven Bernstein于1989年创立，前身为Steven Bernstein and Associates。
AXL vs SBAC — 直观对比
营收规模更大
AXL
是对方的2.0倍
$703.4M
营收增速更快
AXL
高出1.8%
-1.6%
净利率更高
SBAC
高出31.7%
-5.4%
两年增速更快
SBAC
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $703.4M |
| 净利润 | $-75.3M | $184.9M |
| 毛利率 | 10.2% | — |
| 营业利润率 | -2.4% | 48.7% |
| 净利率 | -5.4% | 26.3% |
| 营收同比 | 0.2% | -1.6% |
| 净利润同比 | -449.6% | -15.1% |
| 每股收益（稀释后） | $-0.62 | $1.74 |
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AXLSBAC
| Q1 26 | — | $703.4M | ||
| Q4 25 | $1.4B | $719.6M | ||
| Q3 25 | $1.5B | $732.3M | ||
| Q2 25 | $1.5B | $699.0M | ||
| Q1 25 | $1.4B | $664.2M | ||
| Q4 24 | $1.4B | $693.7M | ||
| Q3 24 | $1.5B | $667.6M | ||
| Q2 24 | $1.6B | $660.5M |
净利润AXLSBAC
| Q1 26 | — | $184.9M | ||
| Q4 25 | $-75.3M | $370.4M | ||
| Q3 25 | $9.2M | $236.8M | ||
| Q2 25 | $39.3M | $225.8M | ||
| Q1 25 | $7.1M | $220.7M | ||
| Q4 24 | $-13.7M | $178.8M | ||
| Q3 24 | $10.0M | $258.5M | ||
| Q2 24 | $18.2M | $162.8M |
毛利率AXLSBAC
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | 75.6% | ||
| Q3 25 | 12.6% | 74.1% | ||
| Q2 25 | 13.1% | 75.4% | ||
| Q1 25 | 12.3% | 76.9% | ||
| Q4 24 | 11.2% | 78.1% | ||
| Q3 24 | 11.4% | 77.5% | ||
| Q2 24 | 13.3% | 78.6% |
营业利润率AXLSBAC
| Q1 26 | — | 48.7% | ||
| Q4 25 | -2.4% | 41.5% | ||
| Q3 25 | 3.2% | 51.1% | ||
| Q2 25 | 3.6% | 47.9% | ||
| Q1 25 | 3.0% | 50.4% | ||
| Q4 24 | 2.6% | 55.1% | ||
| Q3 24 | 2.8% | 56.3% | ||
| Q2 24 | 5.3% | 53.7% |
净利率AXLSBAC
| Q1 26 | — | 26.3% | ||
| Q4 25 | -5.4% | 51.5% | ||
| Q3 25 | 0.6% | 32.3% | ||
| Q2 25 | 2.6% | 32.3% | ||
| Q1 25 | 0.5% | 33.2% | ||
| Q4 24 | -1.0% | 25.8% | ||
| Q3 24 | 0.7% | 38.7% | ||
| Q2 24 | 1.1% | 24.7% |
每股收益（稀释后）AXLSBAC
| Q1 26 | — | $1.74 | ||
| Q4 25 | $-0.62 | $3.47 | ||
| Q3 25 | $0.07 | $2.20 | ||
| Q2 25 | $0.32 | $2.09 | ||
| Q1 25 | $0.06 | $2.04 | ||
| Q4 24 | $-0.11 | $1.61 | ||
| Q3 24 | $0.08 | $2.40 | ||
| Q2 24 | $0.15 | $1.51 |
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 | $269.1M |
| 总债务越低越好 | $4.0B | $2.7B |
| 股东权益账面价值 | $640.0M | — |
| 总资产 | $6.7B | $11.7B |
| 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AXLSBAC
| Q1 26 | — | $269.1M | ||
| Q4 25 | $708.9M | $271.2M | ||
| Q3 25 | $714.1M | $431.1M | ||
| Q2 25 | $586.5M | $276.8M | ||
| Q1 25 | $549.2M | $702.2M | ||
| Q4 24 | $552.9M | $444.4M | ||
| Q3 24 | $542.5M | $202.6M | ||
| Q2 24 | $519.9M | $250.9M |
总债务AXLSBAC
| Q1 26 | — | $2.7B | ||
| Q4 25 | $4.0B | $12.9B | ||
| Q3 25 | $2.6B | $12.7B | ||
| Q2 25 | $2.6B | $12.5B | ||
| Q1 25 | $2.6B | $12.4B | ||
| Q4 24 | $2.6B | $13.6B | ||
| Q3 24 | $2.6B | $12.3B | ||
| Q2 24 | $2.7B | $12.3B |
股东权益AXLSBAC
| Q1 26 | — | — | ||
| Q4 25 | $640.0M | $-4.9B | ||
| Q3 25 | $718.4M | $-4.9B | ||
| Q2 25 | $673.0M | $-4.9B | ||
| Q1 25 | $596.3M | $-5.0B | ||
| Q4 24 | $562.8M | $-5.1B | ||
| Q3 24 | $616.3M | $-5.2B | ||
| Q2 24 | $609.6M | $-5.3B |
总资产AXLSBAC
| Q1 26 | — | $11.7B | ||
| Q4 25 | $6.7B | $11.6B | ||
| Q3 25 | $5.3B | $11.3B | ||
| Q2 25 | $5.3B | $10.8B | ||
| Q1 25 | $5.1B | $10.4B | ||
| Q4 24 | $5.1B | $11.4B | ||
| Q3 24 | $5.3B | $10.2B | ||
| Q2 24 | $5.3B | $9.8B |
负债/权益比AXLSBAC
| 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 | $255.1M |
| 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% | 9.5% |
| 现金转化率经营现金流/净利润 | — | 1.38× |
| 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AXLSBAC
| Q1 26 | — | $255.1M | ||
| Q4 25 | $120.5M | $1.3B | ||
| Q3 25 | $143.3M | $318.0M | ||
| Q2 25 | $91.9M | $368.1M | ||
| Q1 25 | $55.9M | $301.2M | ||
| Q4 24 | $151.2M | $1.3B | ||
| Q3 24 | $143.6M | $304.7M | ||
| Q2 24 | $142.8M | $425.6M |
自由现金流AXLSBAC
| Q1 26 | — | — | ||
| Q4 25 | $54.7M | $833.3M | ||
| Q3 25 | $79.2M | $258.0M | ||
| Q2 25 | $34.6M | $312.2M | ||
| Q1 25 | $-13.4M | $255.0M | ||
| Q4 24 | $73.2M | $1.2B | ||
| Q3 24 | $70.4M | $239.9M | ||
| Q2 24 | $94.0M | $375.6M |
自由现金流率AXLSBAC
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 115.8% | ||
| Q3 25 | 5.3% | 35.2% | ||
| Q2 25 | 2.3% | 44.7% | ||
| Q1 25 | -0.9% | 38.4% | ||
| Q4 24 | 5.3% | 179.9% | ||
| Q3 24 | 4.7% | 35.9% | ||
| Q2 24 | 5.8% | 56.9% |
资本支出强度AXLSBAC
| Q1 26 | — | 9.5% | ||
| Q4 25 | 4.8% | 63.7% | ||
| Q3 25 | 4.3% | 8.2% | ||
| Q2 25 | 3.7% | 8.0% | ||
| Q1 25 | 4.9% | 7.0% | ||
| Q4 24 | 5.6% | 12.6% | ||
| Q3 24 | 4.9% | 9.7% | ||
| Q2 24 | 3.0% | 7.6% |
现金转化率AXLSBAC
| Q1 26 | — | 1.38× | ||
| Q4 25 | — | 3.49× | ||
| Q3 25 | 15.58× | 1.34× | ||
| Q2 25 | 2.34× | 1.63× | ||
| Q1 25 | 7.87× | 1.36× | ||
| Q4 24 | — | 7.47× | ||
| Q3 24 | 14.36× | 1.18× | ||
| Q2 24 | 7.85× | 2.61× |
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% |
SBAC
| Site leasing | $656.1M | 93% |
| Site development | $47.3M | 7% |
