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美国运通（AXP）与标普全球（SPGI）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是美国运通的207.1倍（$3.9B vs $18.9M）。标普全球净利率更高（28.9% vs 15.7%，领先13.2%）。美国运通同比增速更快（11.4% vs 9.0%）。过去两年标普全球的营收复合增速更高（5.9% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息、数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球市场财智、标普全球能源、标普全球移动、印度信用评级机构CRISIL等业务板块，同时控股合资企业标普道琼斯指数。
AXP vs SPGI — 直观对比
营收规模更大
SPGI
是对方的207.1倍
$18.9M
营收增速更快
AXP
高出2.4%
9.0%
净利率更高
SPGI
高出13.2%
15.7%
两年增速更快
SPGI
近两年复合增速
-95.6%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $18.9M | $3.9B |
| 净利润 | $3.0M | $1.1B |
| 毛利率 | — | 70.1% |
| 营业利润率 | — | 42.7% |
| 净利率 | 15.7% | 28.9% |
| 营收同比 | 11.4% | 9.0% |
| 净利润同比 | 15.0% | 28.9% |
| 每股收益（稀释后） | — | $3.76 |
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AXPSPGI
| Q1 26 | $18.9M | — | ||
| Q4 25 | $10.9B | $3.9B | ||
| Q3 25 | $10.4B | $3.9B | ||
| Q2 25 | $10.3B | $3.8B | ||
| Q1 25 | $9.6B | $3.8B | ||
| Q4 24 | $10.0B | $3.6B | ||
| Q3 24 | $9.7B | $3.6B | ||
| Q2 24 | $9.8B | $3.5B |
净利润AXPSPGI
| Q1 26 | $3.0M | — | ||
| Q4 25 | $2.5B | $1.1B | ||
| Q3 25 | $2.9B | $1.2B | ||
| Q2 25 | $2.9B | $1.1B | ||
| Q1 25 | $2.6B | $1.1B | ||
| Q4 24 | $2.2B | $879.0M | ||
| Q3 24 | $2.5B | $971.0M | ||
| Q2 24 | $3.0B | $1.0B |
毛利率AXPSPGI
| Q1 26 | — | — | ||
| Q4 25 | — | 70.1% | ||
| Q3 25 | — | 71.2% | ||
| Q2 25 | — | 70.2% | ||
| Q1 25 | — | 69.5% | ||
| Q4 24 | — | 69.8% | ||
| Q3 24 | — | 70.0% | ||
| Q2 24 | — | 69.4% |
营业利润率AXPSPGI
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | 42.7% | ||
| Q3 25 | 36.7% | 43.1% | ||
| Q2 25 | 34.4% | 41.3% | ||
| Q1 25 | 34.6% | 41.8% | ||
| Q4 24 | 27.7% | 36.4% | ||
| Q3 24 | 33.0% | 40.1% | ||
| Q2 24 | 38.6% | 40.9% |
净利率AXPSPGI
| Q1 26 | 15.7% | — | ||
| Q4 25 | 22.5% | 28.9% | ||
| Q3 25 | 27.9% | 30.2% | ||
| Q2 25 | 28.0% | 28.5% | ||
| Q1 25 | 26.8% | 28.9% | ||
| Q4 24 | 21.8% | 24.5% | ||
| Q3 24 | 25.8% | 27.2% | ||
| Q2 24 | 30.7% | 28.5% |
每股收益（稀释后）AXPSPGI
| Q1 26 | — | — | ||
| Q4 25 | $3.52 | $3.76 | ||
| Q3 25 | $4.14 | $3.86 | ||
| Q2 25 | $4.08 | $3.50 | ||
| Q1 25 | $3.64 | $3.54 | ||
| Q4 24 | $3.04 | $2.85 | ||
| Q3 24 | $3.49 | $3.11 | ||
| Q2 24 | $4.15 | $3.23 |
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 | — | $1.8B |
| 总债务越低越好 | $60.4M | $13.1B |
| 股东权益账面价值 | $34.0M | $31.1B |
| 总资产 | $308.9M | $61.2B |
| 负债/权益比越低杠杆越低 | 1.78× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资AXPSPGI
| Q1 26 | — | — | ||
| Q4 25 | $742.0M | $1.8B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $197.0M | $1.8B | ||
| Q1 25 | $261.0M | $1.5B | ||
| Q4 24 | $221.0M | $1.7B | ||
| Q3 24 | $120.0M | $1.7B | ||
| Q2 24 | $188.0M | $2.0B |
总债务AXPSPGI
| Q1 26 | $60.4M | — | ||
| Q4 25 | $56.4B | $13.1B | ||
| Q3 25 | $57.8B | $11.4B | ||
| Q2 25 | $58.2B | $11.4B | ||
| Q1 25 | $51.2B | $11.4B | ||
| Q4 24 | $49.7B | $11.4B | ||
| Q3 24 | $53.5B | $11.4B | ||
| Q2 24 | $51.5B | $11.4B |
股东权益AXPSPGI
| Q1 26 | $34.0M | — | ||
| Q4 25 | $33.5B | $31.1B | ||
| Q3 25 | $32.4B | $33.1B | ||
| Q2 25 | $32.3B | $33.4B | ||
| Q1 25 | $31.2B | $33.4B | ||
| Q4 24 | $30.3B | $33.2B | ||
| Q3 24 | $29.7B | $34.0B | ||
| Q2 24 | $29.5B | $34.9B |
总资产AXPSPGI
| Q1 26 | $308.9M | — | ||
| Q4 25 | $300.1B | $61.2B | ||
| Q3 25 | $297.6B | $59.7B | ||
| Q2 25 | $295.6B | $60.4B | ||
| Q1 25 | $282.2B | $59.9B | ||
| Q4 24 | $271.5B | $60.2B | ||
| Q3 24 | $271.0B | $60.4B | ||
| Q2 24 | $272.2B | $61.0B |
负债/权益比AXPSPGI
| Q1 26 | 1.78× | — | ||
| Q4 25 | 1.68× | 0.42× | ||
| Q3 25 | 1.78× | 0.34× | ||
| Q2 25 | 1.80× | 0.34× | ||
| Q1 25 | 1.64× | 0.34× | ||
| Q4 24 | 1.64× | 0.34× | ||
| Q3 24 | 1.80× | 0.34× | ||
| Q2 24 | 1.74× | 0.33× |
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 | — | $1.7B |
| 自由现金流经营现金流 - 资本支出 | — | $1.7B |
| 自由现金流率自由现金流/营收 | — | 43.5% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | — | 1.54× |
| 过去12个月自由现金流最近4个季度 | — | $5.5B |
8季度趋势，按日历期对齐
经营现金流AXPSPGI
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $1.7B | ||
| Q3 25 | $6.2B | $1.5B | ||
| Q2 25 | $4.4B | $1.4B | ||
| Q1 25 | $4.8B | $953.0M | ||
| Q4 24 | $5.8B | $1.7B | ||
| Q3 24 | $-1.8B | $1.4B | ||
| Q2 24 | $4.5B | $1.6B |
自由现金流AXPSPGI
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $1.7B | ||
| Q3 25 | $5.6B | $1.5B | ||
| Q2 25 | $3.7B | $1.4B | ||
| Q1 25 | $4.3B | $910.0M | ||
| Q4 24 | $5.3B | $1.7B | ||
| Q3 24 | $-2.3B | $1.4B | ||
| Q2 24 | $4.0B | $1.5B |
自由现金流率AXPSPGI
| Q1 26 | — | — | ||
| Q4 25 | 21.4% | 43.5% | ||
| Q3 25 | 53.6% | 37.6% | ||
| Q2 25 | 36.3% | 36.9% | ||
| Q1 25 | 45.0% | 24.1% | ||
| Q4 24 | 53.1% | 47.5% | ||
| Q3 24 | -23.3% | 39.4% | ||
| Q2 24 | 40.4% | 42.9% |
资本支出强度AXPSPGI
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 1.2% | ||
| Q3 25 | 6.3% | 1.2% | ||
| Q2 25 | 6.0% | 1.6% | ||
| Q1 25 | 4.5% | 1.1% | ||
| Q4 24 | 5.0% | 0.9% | ||
| Q3 24 | 4.7% | 1.0% | ||
| Q2 24 | 5.8% | 0.9% |
现金转化率AXPSPGI
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | 1.54× | ||
| Q3 25 | 2.15× | 1.28× | ||
| Q2 25 | 1.51× | 1.35× | ||
| Q1 25 | 1.84× | 0.87× | ||
| Q4 24 | 2.66× | 1.98× | ||
| Q3 24 | -0.72× | 1.49× | ||
| Q2 24 | 1.50× | 1.54× |
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% |
SPGI
| Subscription | $1.1B | 27% |
| Other | $706.0M | 18% |
| Non Transaction | $602.0M | 15% |
| Indices Segment | $495.0M | 13% |
| Mobility Segment | $444.0M | 11% |
| Asset Linked Fees | $329.0M | 8% |
| Recurring Variable Revenue | $157.0M | 4% |
| Related Party | $46.0M | 1% |
| Non Subscription Transaction | $45.0M | 1% |
| Sales Usage Based Royalties | $30.0M | 1% |
