vs
艾仕得（AXTA）与凯雷集团（CG）财务数据对比。点击上方公司名可切换其他公司
凯雷集团的季度营收约是艾仕得的1.5倍（$1.9B vs $1.3B），凯雷集团净利率更高（18.8% vs 4.8%，领先14.1%），凯雷集团同比增速更快（84.1% vs -3.7%），艾仕得自由现金流更多（$286.0M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs -1.2%）
艾仕得是源自美国的专业涂料供应商，总部位于宾夕法尼亚州费城，注册地为百慕大。公司主营乘用车、商用车、工业场景及修补用途涂料的研发与生产，业务覆盖全球130个国家，拥有近1.3万名员工，服务超10万家客户。
凯雷集团是美国知名跨国企业，核心业务涵盖私募股权投资、另类资产管理及金融服务领域。截至2023年，公司管理资产总规模达4260亿美元，是全球另类资管行业的重要参与者。
AXTA vs CG — 直观对比
营收规模更大
CG
是对方的1.5倍
$1.3B
营收增速更快
CG
高出87.9%
-3.7%
净利率更高
CG
高出14.1%
4.8%
自由现金流更多
AXTA
多$1.5B
$-1.2B
两年增速更快
CG
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.9B |
| 净利润 | $60.0M | $358.1M |
| 毛利率 | 33.4% | — |
| 营业利润率 | 12.8% | 24.3% |
| 净利率 | 4.8% | 18.8% |
| 营收同比 | -3.7% | 84.1% |
| 净利润同比 | -56.2% | 69.8% |
| 每股收益（稀释后） | $0.28 | $0.96 |
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AXTACG
| Q4 25 | $1.3B | $1.9B | ||
| Q3 25 | $1.3B | $332.7M | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.3B | $973.1M | ||
| Q4 24 | $1.3B | $1.0B | ||
| Q3 24 | $1.3B | $2.6B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.3B | $688.4M |
净利润AXTACG
| Q4 25 | $60.0M | $358.1M | ||
| Q3 25 | $110.0M | $900.0K | ||
| Q2 25 | $109.0M | $319.7M | ||
| Q1 25 | $99.0M | $130.0M | ||
| Q4 24 | $137.0M | $210.9M | ||
| Q3 24 | $101.0M | $595.7M | ||
| Q2 24 | $112.0M | $148.2M | ||
| Q1 24 | $41.0M | $65.6M |
毛利率AXTACG
| Q4 25 | 33.4% | — | ||
| Q3 25 | 34.9% | — | ||
| Q2 25 | 35.0% | — | ||
| Q1 25 | 34.3% | — | ||
| Q4 24 | 34.1% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 34.0% | — | ||
| Q1 24 | 33.2% | — |
营业利润率AXTACG
| Q4 25 | 12.8% | 24.3% | ||
| Q3 25 | 15.8% | 25.8% | ||
| Q2 25 | 14.8% | 28.0% | ||
| Q1 25 | 13.9% | 17.6% | ||
| Q4 24 | 14.3% | 25.7% | ||
| Q3 24 | 14.6% | 29.9% | ||
| Q2 24 | 15.2% | 20.5% | ||
| Q1 24 | 9.4% | 17.5% |
净利率AXTACG
| Q4 25 | 4.8% | 18.8% | ||
| Q3 25 | 8.5% | 0.3% | ||
| Q2 25 | 8.4% | 20.3% | ||
| Q1 25 | 7.8% | 13.4% | ||
| Q4 24 | 10.5% | 20.4% | ||
| Q3 24 | 7.7% | 22.6% | ||
| Q2 24 | 8.3% | 13.9% | ||
| Q1 24 | 3.2% | 9.5% |
每股收益（稀释后）AXTACG
| Q4 25 | $0.28 | $0.96 | ||
| Q3 25 | $0.51 | $0.00 | ||
| Q2 25 | $0.50 | $0.87 | ||
| Q1 25 | $0.45 | $0.35 | ||
| Q4 24 | $0.63 | $0.56 | ||
| Q3 24 | $0.46 | $1.63 | ||
| Q2 24 | $0.51 | $0.40 | ||
| Q1 24 | $0.18 | $0.18 |
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 | $657.0M | $2.0B |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.3B | $7.1B |
| 总资产 | $7.6B | $29.1B |
| 负债/权益比越低杠杆越低 | 1.36× | — |
8季度趋势，按日历期对齐
现金及短期投资AXTACG
| Q4 25 | $657.0M | $2.0B | ||
| Q3 25 | $606.0M | $2.2B | ||
| Q2 25 | $625.0M | $1.3B | ||
| Q1 25 | $575.0M | $1.2B | ||
| Q4 24 | $593.0M | $1.3B | ||
| Q3 24 | $567.0M | $1.4B | ||
| Q2 24 | $840.0M | $914.8M | ||
| Q1 24 | $624.0M | $1.3B |
总债务AXTACG
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.4B | — | ||
| Q2 25 | $3.4B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.4B | — |
股东权益AXTACG
| Q4 25 | $2.3B | $7.1B | ||
| Q3 25 | $2.3B | $6.8B | ||
| Q2 25 | $2.3B | $6.7B | ||
| Q1 25 | $2.1B | $6.4B | ||
| Q4 24 | $1.9B | $6.3B | ||
| Q3 24 | $1.9B | $6.3B | ||
| Q2 24 | $1.8B | $5.7B | ||
| Q1 24 | $1.7B | $5.7B |
总资产AXTACG
| Q4 25 | $7.6B | $29.1B | ||
| Q3 25 | $7.8B | $27.1B | ||
| Q2 25 | $7.8B | $25.1B | ||
| Q1 25 | $7.4B | $24.1B | ||
| Q4 24 | $7.2B | $23.1B | ||
| Q3 24 | $7.5B | $22.7B | ||
| Q2 24 | $7.3B | $22.3B | ||
| Q1 24 | $7.1B | $20.8B |
负债/权益比AXTACG
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.48× | — | ||
| Q2 25 | 1.50× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | 1.84× | — | ||
| Q2 24 | 2.02× | — | ||
| Q1 24 | 1.97× | — |
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 | $344.0M | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $286.0M | $-1.2B |
| 自由现金流率自由现金流/营收 | 22.7% | -65.1% |
| 资本支出强度资本支出/营收 | 4.6% | 2.2% |
| 现金转化率经营现金流/净利润 | 5.73× | -3.34× |
| 过去12个月自由现金流最近4个季度 | $453.0M | $-3.4B |
8季度趋势，按日历期对齐
经营现金流AXTACG
| Q4 25 | $344.0M | $-1.2B | ||
| Q3 25 | $137.0M | $-1.6B | ||
| Q2 25 | $142.0M | $-168.8M | ||
| Q1 25 | $26.0M | $-352.1M | ||
| Q4 24 | $234.0M | $-352.8M | ||
| Q3 24 | $194.0M | $791.9M | ||
| Q2 24 | $114.0M | $-1.3B | ||
| Q1 24 | $34.0M | $71.1M |
自由现金流AXTACG
| Q4 25 | $286.0M | $-1.2B | ||
| Q3 25 | $87.0M | $-1.6B | ||
| Q2 25 | $97.0M | $-186.3M | ||
| Q1 25 | $-17.0M | $-368.8M | ||
| Q4 24 | $172.0M | $-379.5M | ||
| Q3 24 | $161.0M | $772.8M | ||
| Q2 24 | $91.0M | $-1.3B | ||
| Q1 24 | $12.0M | $56.9M |
自由现金流率AXTACG
| Q4 25 | 22.7% | -65.1% | ||
| Q3 25 | 6.8% | -475.7% | ||
| Q2 25 | 7.4% | -11.8% | ||
| Q1 25 | -1.3% | -37.9% | ||
| Q4 24 | 13.1% | -36.8% | ||
| Q3 24 | 12.2% | 29.3% | ||
| Q2 24 | 6.7% | -120.4% | ||
| Q1 24 | 0.9% | 8.3% |
资本支出强度AXTACG
| Q4 25 | 4.6% | 2.2% | ||
| Q3 25 | 3.9% | 7.0% | ||
| Q2 25 | 3.4% | 1.1% | ||
| Q1 25 | 3.4% | 1.7% | ||
| Q4 24 | 4.7% | 2.6% | ||
| Q3 24 | 2.5% | 0.7% | ||
| Q2 24 | 1.7% | 1.7% | ||
| Q1 24 | 1.7% | 2.1% |
现金转化率AXTACG
| Q4 25 | 5.73× | -3.34× | ||
| Q3 25 | 1.25× | -1732.78× | ||
| Q2 25 | 1.30× | -0.53× | ||
| Q1 25 | 0.26× | -2.71× | ||
| Q4 24 | 1.71× | -1.67× | ||
| Q3 24 | 1.92× | 1.33× | ||
| Q2 24 | 1.02× | -8.57× | ||
| Q1 24 | 0.83× | 1.08× |
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
AXTA
| Refinish | $509.0M | 40% |
| Light Vehicle | $372.0M | 29% |
| Industrial | $282.0M | 22% |
| Commercial Vehicle | $99.0M | 8% |
CG
| Fund Management Fee | $606.8M | 32% |
| Other | $528.7M | 28% |
| Global Private Equity Segment | $307.3M | 16% |
| Global Credit Segment | $238.0M | 13% |
| Carlyle Alp Invest Segment | $124.6M | 7% |
| Incentive Fee | $55.4M | 3% |
| Fee Related Performance Revenues | $29.2M | 2% |
| Investment Advice | $11.1M | 1% |
