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AMERICAN AXLE & MANUFACTURING HOLDINGS INC（AXL）与思佳讯（SWKS）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的季度营收约是思佳讯的1.3倍（$1.4B vs $1.0B），思佳讯净利率更高（7.6% vs -5.4%，领先13.1%），思佳讯同比增速更快（8.6% vs 0.2%），思佳讯自由现金流更多（$339.0M vs $54.7M），过去两年思佳讯的营收复合增速更高（-0.5% 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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
AXL vs SWKS — 直观对比
营收规模更大
AXL
是对方的1.3倍
$1.0B
营收增速更快
SWKS
高出8.4%
0.2%
净利率更高
SWKS
高出13.1%
-5.4%
自由现金流更多
SWKS
多$284.3M
$54.7M
两年增速更快
SWKS
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.0B |
| 净利润 | $-75.3M | $79.2M |
| 毛利率 | 10.2% | 41.3% |
| 营业利润率 | -2.4% | 10.0% |
| 净利率 | -5.4% | 7.6% |
| 营收同比 | 0.2% | 8.6% |
| 净利润同比 | -449.6% | 15.3% |
| 每股收益（稀释后） | $-0.62 | $0.53 |
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AXLSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | $965.0M | ||
| Q1 25 | $1.4B | $953.2M | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.5B | $1.0B | ||
| Q2 24 | $1.6B | $905.5M |
净利润AXLSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $-75.3M | $141.4M | ||
| Q3 25 | $9.2M | — | ||
| Q2 25 | $39.3M | $105.0M | ||
| Q1 25 | $7.1M | $68.7M | ||
| Q4 24 | $-13.7M | $162.0M | ||
| Q3 24 | $10.0M | $60.5M | ||
| Q2 24 | $18.2M | $120.9M |
毛利率AXLSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 10.2% | 40.7% | ||
| Q3 25 | 12.6% | — | ||
| Q2 25 | 13.1% | 41.6% | ||
| Q1 25 | 12.3% | 41.1% | ||
| Q4 24 | 11.2% | 41.4% | ||
| Q3 24 | 11.4% | 41.9% | ||
| Q2 24 | 13.3% | 40.2% |
营业利润率AXLSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | -2.4% | 10.1% | ||
| Q3 25 | 3.2% | — | ||
| Q2 25 | 3.6% | 11.5% | ||
| Q1 25 | 3.0% | 10.2% | ||
| Q4 24 | 2.6% | 16.9% | ||
| Q3 24 | 2.8% | 5.8% | ||
| Q2 24 | 5.3% | 14.4% |
净利率AXLSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | -5.4% | 12.9% | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 2.6% | 10.9% | ||
| Q1 25 | 0.5% | 7.2% | ||
| Q4 24 | -1.0% | 15.2% | ||
| Q3 24 | 0.7% | 5.9% | ||
| Q2 24 | 1.1% | 13.4% |
每股收益（稀释后）AXLSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $-0.62 | $0.95 | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.32 | $0.70 | ||
| Q1 25 | $0.06 | $0.43 | ||
| Q4 24 | $-0.11 | $1.00 | ||
| Q3 24 | $0.08 | $0.36 | ||
| Q2 24 | $0.15 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | $4.0B | $496.6M |
| 股东权益账面价值 | $640.0M | $5.8B |
| 总资产 | $6.7B | $7.9B |
| 负债/权益比越低杠杆越低 | 6.31× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资AXLSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $708.9M | $1.4B | ||
| Q3 25 | $714.1M | — | ||
| Q2 25 | $586.5M | $1.3B | ||
| Q1 25 | $549.2M | $1.5B | ||
| Q4 24 | $552.9M | $1.7B | ||
| Q3 24 | $542.5M | $1.6B | ||
| Q2 24 | $519.9M | $1.3B |
总债务AXLSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $4.0B | $496.4M | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | $496.2M | ||
| Q1 25 | $2.6B | $995.1M | ||
| Q4 24 | $2.6B | $994.7M | ||
| Q3 24 | $2.6B | $994.3M | ||
| Q2 24 | $2.7B | $994.0M |
股东权益AXLSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $640.0M | $5.8B | ||
| Q3 25 | $718.4M | — | ||
| Q2 25 | $673.0M | $5.7B | ||
| Q1 25 | $596.3M | $5.9B | ||
| Q4 24 | $562.8M | $6.4B | ||
| Q3 24 | $616.3M | $6.3B | ||
| Q2 24 | $609.6M | $6.3B |
总资产AXLSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $6.7B | $7.9B | ||
| Q3 25 | $5.3B | — | ||
| Q2 25 | $5.3B | $7.7B | ||
| Q1 25 | $5.1B | $7.9B | ||
| Q4 24 | $5.1B | $8.3B | ||
| Q3 24 | $5.3B | $8.3B | ||
| Q2 24 | $5.3B | $8.2B |
负债/权益比AXLSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 6.31× | 0.09× | ||
| Q3 25 | 3.61× | — | ||
| Q2 25 | 3.86× | 0.09× | ||
| Q1 25 | 4.38× | 0.17× | ||
| Q4 24 | 4.58× | 0.16× | ||
| Q3 24 | 4.28× | 0.16× | ||
| Q2 24 | 4.42× | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $54.7M | $339.0M |
| 自由现金流率自由现金流/营收 | 4.0% | 32.7% |
| 资本支出强度资本支出/营收 | 4.8% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 4.99× |
| 过去12个月自由现金流最近4个季度 | $155.1M | $1.1B |
8季度趋势，按日历期对齐
经营现金流AXLSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $120.5M | $200.0M | ||
| Q3 25 | $143.3M | — | ||
| Q2 25 | $91.9M | $314.2M | ||
| Q1 25 | $55.9M | $409.4M | ||
| Q4 24 | $151.2M | $377.2M | ||
| Q3 24 | $143.6M | $476.1M | ||
| Q2 24 | $142.8M | $273.4M |
自由现金流AXLSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $54.7M | $144.0M | ||
| Q3 25 | $79.2M | — | ||
| Q2 25 | $34.6M | $252.7M | ||
| Q1 25 | $-13.4M | $370.9M | ||
| Q4 24 | $73.2M | $338.2M | ||
| Q3 24 | $70.4M | $393.3M | ||
| Q2 24 | $94.0M | $249.0M |
自由现金流率AXLSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 4.0% | 13.1% | ||
| Q3 25 | 5.3% | — | ||
| Q2 25 | 2.3% | 26.2% | ||
| Q1 25 | -0.9% | 38.9% | ||
| Q4 24 | 5.3% | 31.7% | ||
| Q3 24 | 4.7% | 38.4% | ||
| Q2 24 | 5.8% | 27.5% |
资本支出强度AXLSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 4.8% | 5.1% | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 3.7% | 6.4% | ||
| Q1 25 | 4.9% | 4.0% | ||
| Q4 24 | 5.6% | 3.6% | ||
| Q3 24 | 4.9% | 8.1% | ||
| Q2 24 | 3.0% | 2.7% |
现金转化率AXLSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | 15.58× | — | ||
| Q2 25 | 2.34× | 2.99× | ||
| Q1 25 | 7.87× | 5.96× | ||
| Q4 24 | — | 2.33× | ||
| Q3 24 | 14.36× | 7.87× | ||
| Q2 24 | 7.85× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
