vs
AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与SCANSOURCE, INC.（SCSC）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SCANSOURCE, INC.的1.8倍（$1.4B vs $766.5M），SCANSOURCE, INC.净利率更高（2.2% vs -5.4%，领先7.6%），SCANSOURCE, INC.同比增速更快（2.5% vs 0.2%），AMERICAN AXLE & MANUFACTURING HOLDINGS INC自由现金流更多（$54.7M vs $28.9M），过去两年SCANSOURCE, INC.的营收复合增速更高（0.9% 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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
AXL vs SCSC — 直观对比
营收规模更大
AXL
是对方的1.8倍
$766.5M
营收增速更快
SCSC
高出2.3%
0.2%
净利率更高
SCSC
高出7.6%
-5.4%
自由现金流更多
AXL
多$25.8M
$28.9M
两年增速更快
SCSC
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $766.5M |
| 净利润 | $-75.3M | $16.5M |
| 毛利率 | 10.2% | 13.4% |
| 营业利润率 | -2.4% | 2.3% |
| 净利率 | -5.4% | 2.2% |
| 营收同比 | 0.2% | 2.5% |
| 净利润同比 | -449.6% | -3.3% |
| 每股收益（稀释后） | $-0.62 | $0.75 |
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AXLSCSC
| Q4 25 | $1.4B | $766.5M | ||
| Q3 25 | $1.5B | $739.6M | ||
| Q2 25 | $1.5B | $812.9M | ||
| Q1 25 | $1.4B | $704.8M | ||
| Q4 24 | $1.4B | $747.5M | ||
| Q3 24 | $1.5B | $775.6M | ||
| Q2 24 | $1.6B | $746.1M | ||
| Q1 24 | $1.6B | $752.6M |
净利润AXLSCSC
| Q4 25 | $-75.3M | $16.5M | ||
| Q3 25 | $9.2M | $19.9M | ||
| Q2 25 | $39.3M | $20.1M | ||
| Q1 25 | $7.1M | $17.4M | ||
| Q4 24 | $-13.7M | $17.1M | ||
| Q3 24 | $10.0M | $17.0M | ||
| Q2 24 | $18.2M | $16.1M | ||
| Q1 24 | $20.5M | $12.8M |
毛利率AXLSCSC
| Q4 25 | 10.2% | 13.4% | ||
| Q3 25 | 12.6% | 14.5% | ||
| Q2 25 | 13.1% | 12.9% | ||
| Q1 25 | 12.3% | 14.2% | ||
| Q4 24 | 11.2% | 13.6% | ||
| Q3 24 | 11.4% | 13.1% | ||
| Q2 24 | 13.3% | 13.0% | ||
| Q1 24 | 12.4% | 12.6% |
营业利润率AXLSCSC
| Q4 25 | -2.4% | 2.3% | ||
| Q3 25 | 3.2% | 3.5% | ||
| Q2 25 | 3.6% | 3.3% | ||
| Q1 25 | 3.0% | 3.2% | ||
| Q4 24 | 2.6% | 2.5% | ||
| Q3 24 | 2.8% | 2.3% | ||
| Q2 24 | 5.3% | 2.9% | ||
| Q1 24 | 4.8% | 2.3% |
净利率AXLSCSC
| Q4 25 | -5.4% | 2.2% | ||
| Q3 25 | 0.6% | 2.7% | ||
| Q2 25 | 2.6% | 2.5% | ||
| Q1 25 | 0.5% | 2.5% | ||
| Q4 24 | -1.0% | 2.3% | ||
| Q3 24 | 0.7% | 2.2% | ||
| Q2 24 | 1.1% | 2.2% | ||
| Q1 24 | 1.3% | 1.7% |
每股收益（稀释后）AXLSCSC
| Q4 25 | $-0.62 | $0.75 | ||
| Q3 25 | $0.07 | $0.89 | ||
| Q2 25 | $0.32 | $0.87 | ||
| Q1 25 | $0.06 | $0.74 | ||
| Q4 24 | $-0.11 | $0.70 | ||
| Q3 24 | $0.08 | $0.69 | ||
| Q2 24 | $0.15 | $0.66 | ||
| Q1 24 | $0.17 | $0.50 |
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 | $83.5M |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $640.0M | $910.9M |
| 总资产 | $6.7B | $1.7B |
| 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AXLSCSC
| Q4 25 | $708.9M | $83.5M | ||
| Q3 25 | $714.1M | $124.9M | ||
| Q2 25 | $586.5M | $126.2M | ||
| Q1 25 | $549.2M | $146.3M | ||
| Q4 24 | $552.9M | $110.5M | ||
| Q3 24 | $542.5M | $145.0M | ||
| Q2 24 | $519.9M | $185.5M | ||
| Q1 24 | $469.8M | $159.1M |
总债务AXLSCSC
| 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AXLSCSC
| Q4 25 | $640.0M | $910.9M | ||
| Q3 25 | $718.4M | $914.0M | ||
| Q2 25 | $673.0M | $906.4M | ||
| Q1 25 | $596.3M | $901.7M | ||
| Q4 24 | $562.8M | $900.7M | ||
| Q3 24 | $616.3M | $920.9M | ||
| Q2 24 | $609.6M | $924.3M | ||
| Q1 24 | $621.4M | $944.1M |
总资产AXLSCSC
| Q4 25 | $6.7B | $1.7B | ||
| Q3 25 | $5.3B | $1.7B | ||
| Q2 25 | $5.3B | $1.8B | ||
| Q1 25 | $5.1B | $1.7B | ||
| Q4 24 | $5.1B | $1.7B | ||
| Q3 24 | $5.3B | $1.8B | ||
| Q2 24 | $5.3B | $1.8B | ||
| Q1 24 | $5.4B | $1.8B |
负债/权益比AXLSCSC
| 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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $28.9M |
| 自由现金流率自由现金流/营收 | 4.0% | 3.8% |
| 资本支出强度资本支出/营收 | 4.8% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 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AXLSCSC
| Q4 25 | $120.5M | $30.8M | ||
| Q3 25 | $143.3M | $23.2M | ||
| Q2 25 | $91.9M | — | ||
| Q1 25 | $55.9M | $66.1M | ||
| Q4 24 | $151.2M | $-6.2M | ||
| Q3 24 | $143.6M | $44.8M | ||
| Q2 24 | $142.8M | — | ||
| Q1 24 | $17.8M | $160.2M |
自由现金流AXLSCSC
| Q4 25 | $54.7M | $28.9M | ||
| Q3 25 | $79.2M | $20.8M | ||
| Q2 25 | $34.6M | — | ||
| Q1 25 | $-13.4M | $64.6M | ||
| Q4 24 | $73.2M | $-8.2M | ||
| Q3 24 | $70.4M | $42.5M | ||
| Q2 24 | $94.0M | — | ||
| Q1 24 | $-30.2M | $157.7M |
自由现金流率AXLSCSC
| Q4 25 | 4.0% | 3.8% | ||
| Q3 25 | 5.3% | 2.8% | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | -0.9% | 9.2% | ||
| Q4 24 | 5.3% | -1.1% | ||
| Q3 24 | 4.7% | 5.5% | ||
| Q2 24 | 5.8% | — | ||
| Q1 24 | -1.9% | 21.0% |
资本支出强度AXLSCSC
| Q4 25 | 4.8% | 0.3% | ||
| Q3 25 | 4.3% | 0.3% | ||
| Q2 25 | 3.7% | 0.3% | ||
| Q1 25 | 4.9% | 0.2% | ||
| Q4 24 | 5.6% | 0.3% | ||
| Q3 24 | 4.9% | 0.3% | ||
| Q2 24 | 3.0% | 0.2% | ||
| Q1 24 | 3.0% | 0.3% |
现金转化率AXLSCSC
| Q4 25 | — | 1.87× | ||
| Q3 25 | 15.58× | 1.17× | ||
| Q2 25 | 2.34× | — | ||
| Q1 25 | 7.87× | 3.79× | ||
| Q4 24 | — | -0.36× | ||
| Q3 24 | 14.36× | 2.64× | ||
| Q2 24 | 7.85× | — | ||
| Q1 24 | 0.87× | 12.51× |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
