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美国运通（AXP）与FiscalNote Holdings, Inc.（NOTE）财务数据对比。点击上方公司名可切换其他公司
FiscalNote Holdings, Inc.的季度营收约是美国运通的1.2倍（$22.2M vs $18.9M），美国运通同比增速更快（11.4% vs -24.7%），过去两年FiscalNote Holdings, Inc.的营收复合增速更高（-16.8% vs -95.6%）
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。
FiscalNote Holdings, Inc.（常称FiscalNote）是一家上市的软件数据与传媒企业，总部位于美国华盛顿特区，2013年由三位创始人创立。核心业务为通过政府关系管理服务FiscalNote GRM提供软件工具、平台、数据服务与资讯，同时依托人工智能平台分析美国待审议法案相关内容。
AXP vs NOTE — 直观对比
营收规模更大
NOTE
是对方的1.2倍
$18.9M
营收增速更快
AXP
高出36.1%
-24.7%
两年增速更快
NOTE
近两年复合增速
-95.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $18.9M | $22.2M |
| 净利润 | $3.0M | — |
| 毛利率 | — | — |
| 营业利润率 | — | -83.7% |
| 净利率 | 15.7% | — |
| 营收同比 | 11.4% | -24.7% |
| 净利润同比 | 15.0% | — |
| 每股收益（稀释后） | — | $-2.81 |
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AXPNOTE
| Q1 26 | $18.9M | — | ||
| Q4 25 | $10.9B | $22.2M | ||
| Q3 25 | $10.4B | $22.4M | ||
| Q2 25 | $10.3B | $23.3M | ||
| Q1 25 | $9.6B | $27.5M | ||
| Q4 24 | $10.0B | $29.5M | ||
| Q3 24 | $9.7B | $29.4M | ||
| Q2 24 | $9.8B | $29.2M |
净利润AXPNOTE
| Q1 26 | $3.0M | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.9B | $-24.9M | ||
| Q2 25 | $2.9B | $-13.3M | ||
| Q1 25 | $2.6B | $-4.3M | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.5B | $-14.9M | ||
| Q2 24 | $3.0B | $-12.8M |
营业利润率AXPNOTE
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | -83.7% | ||
| Q3 25 | 36.7% | -43.4% | ||
| Q2 25 | 34.4% | -31.9% | ||
| Q1 25 | 34.6% | -50.0% | ||
| Q4 24 | 27.7% | -19.4% | ||
| Q3 24 | 33.0% | -23.1% | ||
| Q2 24 | 38.6% | -27.2% |
净利率AXPNOTE
| Q1 26 | 15.7% | — | ||
| Q4 25 | 22.5% | — | ||
| Q3 25 | 27.9% | -110.8% | ||
| Q2 25 | 28.0% | -57.0% | ||
| Q1 25 | 26.8% | -15.4% | ||
| Q4 24 | 21.8% | — | ||
| Q3 24 | 25.8% | -50.7% | ||
| Q2 24 | 30.7% | -43.6% |
每股收益（稀释后）AXPNOTE
| Q1 26 | — | — | ||
| Q4 25 | $3.52 | $-2.81 | ||
| Q3 25 | $4.14 | $-1.73 | ||
| Q2 25 | $4.08 | $-0.08 | ||
| Q1 25 | $3.64 | $-0.03 | ||
| Q4 24 | $3.04 | $1.88 | ||
| Q3 24 | $3.49 | $-1.33 | ||
| Q2 24 | $4.15 | $-0.09 |
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 | — | $26.3M |
| 总债务越低越好 | $60.4M | $128.4M |
| 股东权益账面价值 | $34.0M | $62.0M |
| 总资产 | $308.9M | $255.1M |
| 负债/权益比越低杠杆越低 | 1.78× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资AXPNOTE
| Q1 26 | — | — | ||
| Q4 25 | $742.0M | $26.3M | ||
| Q3 25 | $1.3B | $31.2M | ||
| Q2 25 | $197.0M | $38.5M | ||
| Q1 25 | $261.0M | $46.3M | ||
| Q4 24 | $221.0M | $34.6M | ||
| Q3 24 | $120.0M | $32.7M | ||
| Q2 24 | $188.0M | $37.7M |
总债务AXPNOTE
| Q1 26 | $60.4M | — | ||
| Q4 25 | $56.4B | $128.4M | ||
| Q3 25 | $57.8B | $131.5M | ||
| Q2 25 | $58.2B | $116.7M | ||
| Q1 25 | $51.2B | $118.0M | ||
| Q4 24 | $49.7B | $147.1M | ||
| Q3 24 | $53.5B | $152.2M | ||
| Q2 24 | $51.5B | $145.9M |
股东权益AXPNOTE
| Q1 26 | $34.0M | — | ||
| Q4 25 | $33.5B | $62.0M | ||
| Q3 25 | $32.4B | $75.5M | ||
| Q2 25 | $32.3B | $95.1M | ||
| Q1 25 | $31.2B | $98.7M | ||
| Q4 24 | $30.3B | $97.8M | ||
| Q3 24 | $29.7B | $98.5M | ||
| Q2 24 | $29.5B | $106.9M |
总资产AXPNOTE
| Q1 26 | $308.9M | — | ||
| Q4 25 | $300.1B | $255.1M | ||
| Q3 25 | $297.6B | $273.9M | ||
| Q2 25 | $295.6B | $288.3M | ||
| Q1 25 | $282.2B | $299.7M | ||
| Q4 24 | $271.5B | $326.2M | ||
| Q3 24 | $271.0B | $337.9M | ||
| Q2 24 | $272.2B | $346.3M |
负债/权益比AXPNOTE
| Q1 26 | 1.78× | — | ||
| Q4 25 | 1.68× | 2.07× | ||
| Q3 25 | 1.78× | 1.74× | ||
| Q2 25 | 1.80× | 1.23× | ||
| Q1 25 | 1.64× | 1.20× | ||
| Q4 24 | 1.64× | 1.50× | ||
| Q3 24 | 1.80× | 1.54× | ||
| Q2 24 | 1.74× | 1.36× |
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 | — | $-279.0K |
| 自由现金流经营现金流 - 资本支出 | — | $-1.9M |
| 自由现金流率自由现金流/营收 | — | -8.7% |
| 资本支出强度资本支出/营收 | — | 7.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-18.6M |
8季度趋势，按日历期对齐
经营现金流AXPNOTE
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $-279.0K | ||
| Q3 25 | $6.2B | $-8.3M | ||
| Q2 25 | $4.4B | $-6.2M | ||
| Q1 25 | $4.8B | $3.3M | ||
| Q4 24 | $5.8B | $-1.3M | ||
| Q3 24 | $-1.8B | $-3.0M | ||
| Q2 24 | $4.5B | $-3.7M |
自由现金流AXPNOTE
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $-1.9M | ||
| Q3 25 | $5.6B | $-10.4M | ||
| Q2 25 | $3.7B | $-7.7M | ||
| Q1 25 | $4.3B | $1.3M | ||
| Q4 24 | $5.3B | $-3.4M | ||
| Q3 24 | $-2.3B | $-5.4M | ||
| Q2 24 | $4.0B | $-6.5M |
自由现金流率AXPNOTE
| Q1 26 | — | — | ||
| Q4 25 | 21.4% | -8.7% | ||
| Q3 25 | 53.6% | -46.2% | ||
| Q2 25 | 36.3% | -33.0% | ||
| Q1 25 | 45.0% | 4.7% | ||
| Q4 24 | 53.1% | -11.4% | ||
| Q3 24 | -23.3% | -18.4% | ||
| Q2 24 | 40.4% | -22.1% |
资本支出强度AXPNOTE
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 7.4% | ||
| Q3 25 | 6.3% | 9.3% | ||
| Q2 25 | 6.0% | 6.4% | ||
| Q1 25 | 4.5% | 7.2% | ||
| Q4 24 | 5.0% | 6.8% | ||
| Q3 24 | 4.7% | 8.3% | ||
| Q2 24 | 5.8% | 9.4% |
现金转化率AXPNOTE
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | — | ||
| Q3 25 | 2.15× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.84× | — | ||
| Q4 24 | 2.66× | — | ||
| Q3 24 | -0.72× | — | ||
| Q2 24 | 1.50× | — |
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
| Discount revenue | $9.5M | 50% |
| Other | $8.9M | 47% |
| Deposits with banks and other | $512.0K | 3% |
NOTE
| Subscription | $21.2M | 95% |
| Advisory Advertising And Other | $1.0M | 5% |
