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美国运通（AXP）与Dollar General（DG）财务数据对比。点击上方公司名可切换其他公司
美国运通的季度营收约是Dollar General的1.0倍（$10.9B vs $10.6B），美国运通净利率更高（22.5% vs 2.7%，领先19.8%），美国运通同比增速更快（9.9% vs 4.6%），美国运通自由现金流更多（$2.3B vs $690.4M），过去两年美国运通的营收复合增速更高（8.2% vs 4.3%）
美国运通是全球知名的支付服务提供商，主营签账卡、信用卡产品及旅行相关服务，下设全球消费者服务、全球商业服务、全球商户与网络服务三大业务板块，还提供支付融资、网络服务、应付账款费用管理、旅行生活服务等多元解决方案。
Dollar General是美国大型折扣连锁零售企业，总部位于田纳西州古德利茨维尔。截至2024年1月初，集团在美国本土及墨西哥共运营20388家线下门店，主打高性价比日常商品，服务大众消费群体。
AXP vs DG — 直观对比
营收规模更大
AXP
是对方的1.0倍
$10.6B
营收增速更快
AXP
高出5.4%
4.6%
净利率更高
AXP
高出19.8%
2.7%
自由现金流更多
AXP
多$1.7B
$690.4M
两年增速更快
AXP
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.9B | $10.6B |
| 净利润 | $2.5B | $282.7M |
| 毛利率 | — | 29.9% |
| 营业利润率 | 28.2% | 4.0% |
| 净利率 | 22.5% | 2.7% |
| 营收同比 | 9.9% | 4.6% |
| 净利润同比 | 13.5% | 43.8% |
| 每股收益（稀释后） | $3.52 | $1.28 |
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AXPDG
| Q4 25 | $10.9B | $10.6B | ||
| Q3 25 | $10.4B | — | ||
| Q2 25 | $10.3B | $10.4B | ||
| Q1 25 | $9.6B | — | ||
| Q4 24 | $10.0B | $10.2B | ||
| Q3 24 | $9.7B | $10.2B | ||
| Q2 24 | $9.8B | $9.9B | ||
| Q1 24 | $9.3B | $9.9B |
净利润AXPDG
| Q4 25 | $2.5B | $282.7M | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.9B | $391.9M | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.2B | $196.5M | ||
| Q3 24 | $2.5B | $374.2M | ||
| Q2 24 | $3.0B | $363.3M | ||
| Q1 24 | $2.4B | $401.8M |
毛利率AXPDG
| Q4 25 | — | 29.9% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 28.8% | ||
| Q3 24 | — | 30.0% | ||
| Q2 24 | — | 30.2% | ||
| Q1 24 | — | 29.5% |
营业利润率AXPDG
| Q4 25 | 28.2% | 4.0% | ||
| Q3 25 | 36.7% | — | ||
| Q2 25 | 34.4% | 5.5% | ||
| Q1 25 | 34.6% | — | ||
| Q4 24 | 27.7% | 3.2% | ||
| Q3 24 | 33.0% | 5.4% | ||
| Q2 24 | 38.6% | 5.5% | ||
| Q1 24 | 33.7% | 5.9% |
净利率AXPDG
| Q4 25 | 22.5% | 2.7% | ||
| Q3 25 | 27.9% | — | ||
| Q2 25 | 28.0% | 3.8% | ||
| Q1 25 | 26.8% | — | ||
| Q4 24 | 21.8% | 1.9% | ||
| Q3 24 | 25.8% | 3.7% | ||
| Q2 24 | 30.7% | 3.7% | ||
| Q1 24 | 26.1% | 4.1% |
每股收益（稀释后）AXPDG
| Q4 25 | $3.52 | $1.28 | ||
| Q3 25 | $4.14 | — | ||
| Q2 25 | $4.08 | $1.78 | ||
| Q1 25 | $3.64 | — | ||
| Q4 24 | $3.04 | $0.89 | ||
| Q3 24 | $3.49 | $1.70 | ||
| Q2 24 | $4.15 | $1.65 | ||
| Q1 24 | $3.33 | $1.82 |
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 | $742.0M | $1.2B |
| 总债务越低越好 | $56.4B | $5.1B |
| 股东权益账面价值 | $33.5B | $8.2B |
| 总资产 | $300.1B | $31.7B |
| 负债/权益比越低杠杆越低 | 1.68× | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资AXPDG
| Q4 25 | $742.0M | $1.2B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $197.0M | $850.0M | ||
| Q1 25 | $261.0M | — | ||
| Q4 24 | $221.0M | $537.3M | ||
| Q3 24 | $120.0M | $1.2B | ||
| Q2 24 | $188.0M | $720.7M | ||
| Q1 24 | $69.0M | $537.3M |
总债务AXPDG
| Q4 25 | $56.4B | $5.1B | ||
| Q3 25 | $57.8B | — | ||
| Q2 25 | $58.2B | $5.7B | ||
| Q1 25 | $51.2B | — | ||
| Q4 24 | $49.7B | $5.7B | ||
| Q3 24 | $53.5B | $6.2B | ||
| Q2 24 | $51.5B | $6.2B | ||
| Q1 24 | $48.8B | $6.2B |
股东权益AXPDG
| Q4 25 | $33.5B | $8.2B | ||
| Q3 25 | $32.4B | — | ||
| Q2 25 | $32.3B | $7.7B | ||
| Q1 25 | $31.2B | — | ||
| Q4 24 | $30.3B | $7.3B | ||
| Q3 24 | $29.7B | $7.3B | ||
| Q2 24 | $29.5B | $7.0B | ||
| Q1 24 | $28.8B | $6.7B |
总资产AXPDG
| Q4 25 | $300.1B | $31.7B | ||
| Q3 25 | $297.6B | — | ||
| Q2 25 | $295.6B | $31.0B | ||
| Q1 25 | $282.2B | — | ||
| Q4 24 | $271.5B | $31.5B | ||
| Q3 24 | $271.0B | $31.8B | ||
| Q2 24 | $272.2B | $31.0B | ||
| Q1 24 | $269.3B | $30.8B |
负债/权益比AXPDG
| Q4 25 | 1.68× | 0.63× | ||
| Q3 25 | 1.78× | — | ||
| Q2 25 | 1.80× | 0.74× | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.64× | 0.78× | ||
| Q3 24 | 1.80× | 0.86× | ||
| Q2 24 | 1.74× | 0.89× | ||
| Q1 24 | 1.70× | 0.92× |
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 | $3.1B | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $2.3B | $690.4M |
| 自由现金流率自由现金流/营收 | 21.4% | 6.5% |
| 资本支出强度资本支出/营收 | 6.6% | 2.9% |
| 现金转化率经营现金流/净利润 | 1.25× | 3.55× |
| 过去12个月自由现金流最近4个季度 | $16.0B | $2.1B |
8季度趋势，按日历期对齐
经营现金流AXPDG
| Q4 25 | $3.1B | $1.0B | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $4.4B | $847.2M | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $5.8B | $542.4M | ||
| Q3 24 | $-1.8B | $988.9M | ||
| Q2 24 | $4.5B | $663.8M | ||
| Q1 24 | $5.6B | $949.8M |
自由现金流AXPDG
| Q4 25 | $2.3B | $690.4M | ||
| Q3 25 | $5.6B | — | ||
| Q2 25 | $3.7B | $556.2M | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $5.3B | $201.0M | ||
| Q3 24 | $-2.3B | $635.2M | ||
| Q2 24 | $4.0B | $321.8M | ||
| Q1 24 | $5.2B | $490.1M |
自由现金流率AXPDG
| Q4 25 | 21.4% | 6.5% | ||
| Q3 25 | 53.6% | — | ||
| Q2 25 | 36.3% | 5.3% | ||
| Q1 25 | 45.0% | — | ||
| Q4 24 | 53.1% | 2.0% | ||
| Q3 24 | -23.3% | 6.2% | ||
| Q2 24 | 40.4% | 3.2% | ||
| Q1 24 | 55.2% | 5.0% |
资本支出强度AXPDG
| Q4 25 | 6.6% | 2.9% | ||
| Q3 25 | 6.3% | — | ||
| Q2 25 | 6.0% | 2.8% | ||
| Q1 25 | 4.5% | — | ||
| Q4 24 | 5.0% | 3.4% | ||
| Q3 24 | 4.7% | 3.5% | ||
| Q2 24 | 5.8% | 3.4% | ||
| Q1 24 | 4.2% | 4.7% |
现金转化率AXPDG
| Q4 25 | 1.25× | 3.55× | ||
| Q3 25 | 2.15× | — | ||
| Q2 25 | 1.51× | 2.16× | ||
| Q1 25 | 1.84× | — | ||
| Q4 24 | 2.66× | 2.76× | ||
| Q3 24 | -0.72× | 2.64× | ||
| Q2 24 | 1.50× | 1.83× | ||
| Q1 24 | 2.28× | 2.36× |
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
AXP
| US Consumer Services Segment | $4.2B | 38% |
| Commercial Services Segment | $3.1B | 28% |
| International Card Services Segment | $2.1B | 19% |
| Global Merchant And Network Services Segment | $1.7B | 15% |
| Financial Service Other | $471.0M | 4% |
DG
| Consumables | $8.8B | 83% |
| Seasonal | $992.2M | 9% |
| Home Products | $550.7M | 5% |
| Apparel | $281.9M | 3% |
