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美国运通（AXP）与英格拉姆微（INGM）财务数据对比。点击上方公司名可切换其他公司
英格拉姆微的季度营收约是美国运通的1.4倍（$14.9B vs $10.9B），美国运通净利率更高（22.5% vs 0.8%，领先21.7%），美国运通自由现金流更多（$2.3B vs $1.5B）
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。
英格拉姆微控股是全球知名的信息技术产品及服务分销商，总部位于美国加利福尼亚州欧文市，业务覆盖全球各地。公司前身为1979年在加州成立的Micro D, Inc，最初是传统分销商，主营向经销商推广、销售及交付厂商产品，目前正向聚焦数字体验的平台化业务方向转型。
AXP vs INGM — 直观对比
营收规模更大
INGM
是对方的1.4倍
$10.9B
净利率更高
AXP
高出21.7%
0.8%
自由现金流更多
AXP
多$821.3M
$1.5B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.9B | $14.9B |
| 净利润 | $2.5B | $121.4M |
| 毛利率 | — | 6.5% |
| 营业利润率 | 28.2% | 2.1% |
| 净利率 | 22.5% | 0.8% |
| 营收同比 | 9.9% | — |
| 净利润同比 | 13.5% | — |
| 每股收益（稀释后） | $3.52 | $0.52 |
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AXPINGM
| Q4 25 | $10.9B | $14.9B | ||
| Q3 25 | $10.4B | $12.6B | ||
| Q2 25 | $10.3B | $12.8B | ||
| Q1 25 | $9.6B | $12.3B | ||
| Q4 24 | $10.0B | — | ||
| Q3 24 | $9.7B | $11.8B | ||
| Q2 24 | $9.8B | $11.5B | ||
| Q1 24 | $9.3B | $11.3B |
净利润AXPINGM
| Q4 25 | $2.5B | $121.4M | ||
| Q3 25 | $2.9B | $99.5M | ||
| Q2 25 | $2.9B | $37.8M | ||
| Q1 25 | $2.6B | $69.2M | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.5B | $77.0M | ||
| Q2 24 | $3.0B | $54.6M | ||
| Q1 24 | $2.4B | $49.6M |
毛利率AXPINGM
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 6.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 7.2% | ||
| Q1 24 | — | 7.4% |
营业利润率AXPINGM
| Q4 25 | 28.2% | 2.1% | ||
| Q3 25 | 36.7% | 1.8% | ||
| Q2 25 | 34.4% | 1.1% | ||
| Q1 25 | 34.6% | 1.6% | ||
| Q4 24 | 27.7% | — | ||
| Q3 24 | 33.0% | 1.9% | ||
| Q2 24 | 38.6% | 1.6% | ||
| Q1 24 | 33.7% | 1.5% |
净利率AXPINGM
| Q4 25 | 22.5% | 0.8% | ||
| Q3 25 | 27.9% | 0.8% | ||
| Q2 25 | 28.0% | 0.3% | ||
| Q1 25 | 26.8% | 0.6% | ||
| Q4 24 | 21.8% | — | ||
| Q3 24 | 25.8% | 0.7% | ||
| Q2 24 | 30.7% | 0.5% | ||
| Q1 24 | 26.1% | 0.4% |
每股收益（稀释后）AXPINGM
| Q4 25 | $3.52 | $0.52 | ||
| Q3 25 | $4.14 | $0.42 | ||
| Q2 25 | $4.08 | $0.16 | ||
| Q1 25 | $3.64 | $0.29 | ||
| Q4 24 | $3.04 | — | ||
| Q3 24 | $3.49 | $0.35 | ||
| Q2 24 | $4.15 | $0.25 | ||
| Q1 24 | $3.33 | $0.22 |
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 | $1.9B |
| 总债务越低越好 | $56.4B | $3.2B |
| 股东权益账面价值 | $33.5B | $4.2B |
| 总资产 | $300.1B | $21.2B |
| 负债/权益比越低杠杆越低 | 1.68× | 0.75× |
8季度趋势，按日历期对齐
现金及短期投资AXPINGM
| Q4 25 | $742.0M | $1.9B | ||
| Q3 25 | $1.3B | $802.6M | ||
| Q2 25 | $197.0M | $856.7M | ||
| Q1 25 | $261.0M | $881.6M | ||
| Q4 24 | $221.0M | — | ||
| Q3 24 | $120.0M | $849.5M | ||
| Q2 24 | $188.0M | — | ||
| Q1 24 | $69.0M | — |
总债务AXPINGM
| Q4 25 | $56.4B | $3.2B | ||
| Q3 25 | $57.8B | $3.8B | ||
| Q2 25 | $58.2B | $3.7B | ||
| Q1 25 | $51.2B | $3.5B | ||
| Q4 24 | $49.7B | — | ||
| Q3 24 | $53.5B | $3.8B | ||
| Q2 24 | $51.5B | — | ||
| Q1 24 | $48.8B | — |
股东权益AXPINGM
| Q4 25 | $33.5B | $4.2B | ||
| Q3 25 | $32.4B | $4.1B | ||
| Q2 25 | $32.3B | $4.0B | ||
| Q1 25 | $31.2B | $3.9B | ||
| Q4 24 | $30.3B | — | ||
| Q3 24 | $29.7B | $3.6B | ||
| Q2 24 | $29.5B | $3.5B | ||
| Q1 24 | $28.8B | $3.5B |
总资产AXPINGM
| Q4 25 | $300.1B | $21.2B | ||
| Q3 25 | $297.6B | $19.2B | ||
| Q2 25 | $295.6B | $19.5B | ||
| Q1 25 | $282.2B | $18.6B | ||
| Q4 24 | $271.5B | — | ||
| Q3 24 | $271.0B | $18.6B | ||
| Q2 24 | $272.2B | — | ||
| Q1 24 | $269.3B | $17.6B |
负债/权益比AXPINGM
| Q4 25 | 1.68× | 0.75× | ||
| Q3 25 | 1.78× | 0.93× | ||
| Q2 25 | 1.80× | 0.92× | ||
| Q1 25 | 1.64× | 0.90× | ||
| Q4 24 | 1.64× | — | ||
| Q3 24 | 1.80× | 1.06× | ||
| Q2 24 | 1.74× | — | ||
| Q1 24 | 1.70× | — |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $2.3B | $1.5B |
| 自由现金流率自由现金流/营收 | 21.4% | 10.2% |
| 资本支出强度资本支出/营收 | 6.6% | 0.2% |
| 现金转化率经营现金流/净利润 | 1.25× | 12.85× |
| 过去12个月自由现金流最近4个季度 | $16.0B | $785.4M |
8季度趋势，按日历期对齐
经营现金流AXPINGM
| Q4 25 | $3.1B | $1.6B | ||
| Q3 25 | $6.2B | $-146.0M | ||
| Q2 25 | $4.4B | $-298.0M | ||
| Q1 25 | $4.8B | $-200.4M | ||
| Q4 24 | $5.8B | — | ||
| Q3 24 | $-1.8B | $-277.0M | ||
| Q2 24 | $4.5B | — | ||
| Q1 24 | $5.6B | $-100.3M |
自由现金流AXPINGM
| Q4 25 | $2.3B | $1.5B | ||
| Q3 25 | $5.6B | $-175.0M | ||
| Q2 25 | $3.7B | $-333.2M | ||
| Q1 25 | $4.3B | $-230.2M | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $-2.3B | $-315.0M | ||
| Q2 24 | $4.0B | — | ||
| Q1 24 | $5.2B | $-135.8M |
自由现金流率AXPINGM
| Q4 25 | 21.4% | 10.2% | ||
| Q3 25 | 53.6% | -1.4% | ||
| Q2 25 | 36.3% | -2.6% | ||
| Q1 25 | 45.0% | -1.9% | ||
| Q4 24 | 53.1% | — | ||
| Q3 24 | -23.3% | -2.7% | ||
| Q2 24 | 40.4% | — | ||
| Q1 24 | 55.2% | -1.2% |
资本支出强度AXPINGM
| Q4 25 | 6.6% | 0.2% | ||
| Q3 25 | 6.3% | 0.2% | ||
| Q2 25 | 6.0% | 0.3% | ||
| Q1 25 | 4.5% | 0.2% | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | 4.7% | 0.3% | ||
| Q2 24 | 5.8% | — | ||
| Q1 24 | 4.2% | 0.3% |
现金转化率AXPINGM
| Q4 25 | 1.25× | 12.85× | ||
| Q3 25 | 2.15× | -1.47× | ||
| Q2 25 | 1.51× | -7.88× | ||
| Q1 25 | 1.84× | -2.90× | ||
| Q4 24 | 2.66× | — | ||
| Q3 24 | -0.72× | -3.60× | ||
| Q2 24 | 1.50× | — | ||
| Q1 24 | 2.28× | -2.02× |
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% |
INGM
暂无分部数据
