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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与Snap Inc（SNAP）财务数据对比。点击上方公司名可切换其他公司
Snap Inc的季度营收约是AMERICAN AXLE & MANUFACTURING HOLDINGS INC的1.2倍（$1.7B vs $1.4B），Snap Inc净利率更高（2.6% vs -5.4%，领先8.1%），Snap Inc同比增速更快（10.2% vs 0.2%），Snap Inc自由现金流更多（$205.6M vs $54.7M），过去两年Snap Inc的营收复合增速更高（19.9% 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。
Snap Inc.是一家美国科技企业，2011年9月16日由埃文·斯皮格尔、鲍比·墨菲和雷吉·布朗联合创立，总部位于加利福尼亚州圣莫尼卡。公司核心产品包括社交应用Snapchat、智能眼镜Spectacles、虚拟形象工具Bitmoji以及营销推广解决方案SnapBoost，2016年9月24日由原Snapchat Inc.更名为现名，覆盖社交、智能硬件等多元业务领域。
AXL vs SNAP — 直观对比
营收规模更大
SNAP
是对方的1.2倍
$1.4B
营收增速更快
SNAP
高出10.0%
0.2%
净利率更高
SNAP
高出8.1%
-5.4%
自由现金流更多
SNAP
多$150.9M
$54.7M
两年增速更快
SNAP
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.7B |
| 净利润 | $-75.3M | $45.2M |
| 毛利率 | 10.2% | 59.1% |
| 营业利润率 | -2.4% | 2.9% |
| 净利率 | -5.4% | 2.6% |
| 营收同比 | 0.2% | 10.2% |
| 净利润同比 | -449.6% | 396.7% |
| 每股收益（稀释后） | $-0.62 | $0.03 |
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AXLSNAP
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.5B | $1.3B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.6B | $1.2B |
净利润AXLSNAP
| Q4 25 | $-75.3M | $45.2M | ||
| Q3 25 | $9.2M | $-103.5M | ||
| Q2 25 | $39.3M | $-262.6M | ||
| Q1 25 | $7.1M | $-139.6M | ||
| Q4 24 | $-13.7M | $9.1M | ||
| Q3 24 | $10.0M | $-153.2M | ||
| Q2 24 | $18.2M | $-248.6M | ||
| Q1 24 | $20.5M | $-305.1M |
毛利率AXLSNAP
| Q4 25 | 10.2% | 59.1% | ||
| Q3 25 | 12.6% | 55.3% | ||
| Q2 25 | 13.1% | 51.4% | ||
| Q1 25 | 12.3% | 53.1% | ||
| Q4 24 | 11.2% | 56.9% | ||
| Q3 24 | 11.4% | 53.5% | ||
| Q2 24 | 13.3% | 52.4% | ||
| Q1 24 | 12.4% | 51.9% |
营业利润率AXLSNAP
| Q4 25 | -2.4% | 2.9% | ||
| Q3 25 | 3.2% | -8.5% | ||
| Q2 25 | 3.6% | -19.3% | ||
| Q1 25 | 3.0% | -14.2% | ||
| Q4 24 | 2.6% | -1.7% | ||
| Q3 24 | 2.8% | -12.6% | ||
| Q2 24 | 5.3% | -20.5% | ||
| Q1 24 | 4.8% | -27.9% |
净利率AXLSNAP
| Q4 25 | -5.4% | 2.6% | ||
| Q3 25 | 0.6% | -6.9% | ||
| Q2 25 | 2.6% | -19.5% | ||
| Q1 25 | 0.5% | -10.2% | ||
| Q4 24 | -1.0% | 0.6% | ||
| Q3 24 | 0.7% | -11.2% | ||
| Q2 24 | 1.1% | -20.1% | ||
| Q1 24 | 1.3% | -25.5% |
每股收益（稀释后）AXLSNAP
| Q4 25 | $-0.62 | $0.03 | ||
| Q3 25 | $0.07 | $-0.06 | ||
| Q2 25 | $0.32 | $-0.16 | ||
| Q1 25 | $0.06 | $-0.08 | ||
| Q4 24 | $-0.11 | $0.01 | ||
| Q3 24 | $0.08 | $-0.09 | ||
| Q2 24 | $0.15 | $-0.15 | ||
| Q1 24 | $0.17 | $-0.19 |
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 | $2.9B |
| 总债务越低越好 | $4.0B | $3.5B |
| 股东权益账面价值 | $640.0M | $2.3B |
| 总资产 | $6.7B | $7.7B |
| 负债/权益比越低杠杆越低 | 6.31× | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资AXLSNAP
| Q4 25 | $708.9M | $2.9B | ||
| Q3 25 | $714.1M | $3.0B | ||
| Q2 25 | $586.5M | $2.9B | ||
| Q1 25 | $549.2M | $3.2B | ||
| Q4 24 | $552.9M | $3.4B | ||
| Q3 24 | $542.5M | $3.2B | ||
| Q2 24 | $519.9M | $3.1B | ||
| Q1 24 | $469.8M | $2.9B |
总债务AXLSNAP
| Q4 25 | $4.0B | $3.5B | ||
| Q3 25 | $2.6B | $3.5B | ||
| Q2 25 | $2.6B | $3.6B | ||
| Q1 25 | $2.6B | $3.6B | ||
| Q4 24 | $2.6B | $3.6B | ||
| Q3 24 | $2.6B | $3.6B | ||
| Q2 24 | $2.7B | $3.6B | ||
| Q1 24 | $2.7B | $3.3B |
股东权益AXLSNAP
| Q4 25 | $640.0M | $2.3B | ||
| Q3 25 | $718.4M | $2.2B | ||
| Q2 25 | $673.0M | $2.1B | ||
| Q1 25 | $596.3M | $2.3B | ||
| Q4 24 | $562.8M | $2.5B | ||
| Q3 24 | $616.3M | $2.2B | ||
| Q2 24 | $609.6M | $2.1B | ||
| Q1 24 | $621.4M | $2.1B |
总资产AXLSNAP
| Q4 25 | $6.7B | $7.7B | ||
| Q3 25 | $5.3B | $7.6B | ||
| Q2 25 | $5.3B | $7.4B | ||
| Q1 25 | $5.1B | $7.6B | ||
| Q4 24 | $5.1B | $7.9B | ||
| Q3 24 | $5.3B | $7.6B | ||
| Q2 24 | $5.3B | $7.4B | ||
| Q1 24 | $5.4B | $7.2B |
负债/权益比AXLSNAP
| Q4 25 | 6.31× | 1.55× | ||
| Q3 25 | 3.61× | 1.59× | ||
| Q2 25 | 3.86× | 1.73× | ||
| Q1 25 | 4.38× | 1.56× | ||
| Q4 24 | 4.58× | 1.49× | ||
| Q3 24 | 4.28× | 1.65× | ||
| Q2 24 | 4.42× | 1.76× | ||
| Q1 24 | 4.40× | 1.55× |
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 | $269.6M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $205.6M |
| 自由现金流率自由现金流/营收 | 4.0% | 12.0% |
| 资本支出强度资本支出/营收 | 4.8% | 3.7% |
| 现金转化率经营现金流/净利润 | — | 5.96× |
| 过去12个月自由现金流最近4个季度 | $155.1M | $437.2M |
8季度趋势，按日历期对齐
经营现金流AXLSNAP
| Q4 25 | $120.5M | $269.6M | ||
| Q3 25 | $143.3M | $146.5M | ||
| Q2 25 | $91.9M | $88.5M | ||
| Q1 25 | $55.9M | $151.6M | ||
| Q4 24 | $151.2M | $230.6M | ||
| Q3 24 | $143.6M | $115.9M | ||
| Q2 24 | $142.8M | $-21.4M | ||
| Q1 24 | $17.8M | $88.4M |
自由现金流AXLSNAP
| Q4 25 | $54.7M | $205.6M | ||
| Q3 25 | $79.2M | $93.4M | ||
| Q2 25 | $34.6M | $23.8M | ||
| Q1 25 | $-13.4M | $114.4M | ||
| Q4 24 | $73.2M | $182.4M | ||
| Q3 24 | $70.4M | $71.8M | ||
| Q2 24 | $94.0M | $-73.4M | ||
| Q1 24 | $-30.2M | $37.9M |
自由现金流率AXLSNAP
| Q4 25 | 4.0% | 12.0% | ||
| Q3 25 | 5.3% | 6.2% | ||
| Q2 25 | 2.3% | 1.8% | ||
| Q1 25 | -0.9% | 8.4% | ||
| Q4 24 | 5.3% | 11.7% | ||
| Q3 24 | 4.7% | 5.2% | ||
| Q2 24 | 5.8% | -5.9% | ||
| Q1 24 | -1.9% | 3.2% |
资本支出强度AXLSNAP
| Q4 25 | 4.8% | 3.7% | ||
| Q3 25 | 4.3% | 3.5% | ||
| Q2 25 | 3.7% | 4.8% | ||
| Q1 25 | 4.9% | 2.7% | ||
| Q4 24 | 5.6% | 3.1% | ||
| Q3 24 | 4.9% | 3.2% | ||
| Q2 24 | 3.0% | 4.2% | ||
| Q1 24 | 3.0% | 4.2% |
现金转化率AXLSNAP
| Q4 25 | — | 5.96× | ||
| Q3 25 | 15.58× | — | ||
| Q2 25 | 2.34× | — | ||
| Q1 25 | 7.87× | — | ||
| Q4 24 | — | 25.34× | ||
| Q3 24 | 14.36× | — | ||
| Q2 24 | 7.85× | — | ||
| Q1 24 | 0.87× | — |
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% |
SNAP
| Advertising Revenue | $1.5B | 86% |
| Other Revenue | $231.9M | 14% |
