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艾仕得（AXTA）与Liberty Global Ltd.（LBTYA）财务数据对比。点击上方公司名可切换其他公司
Liberty Global Ltd.的季度营收约是艾仕得的1.9倍（$2.4B vs $1.3B），Liberty Global Ltd.净利率更高（15.0% vs 4.8%，领先10.2%），Liberty Global Ltd.同比增速更快（-3.6% vs -3.7%），过去两年Liberty Global Ltd.的营收复合增速更高（12.9% 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。
自由全球有限公司是一家英荷美合资的跨国电信企业，注册地位于百慕大，在伦敦、阿姆斯特丹和丹佛均设有总部。公司旗下拥有英国自由全球控股有限公司、荷兰自由全球有限公司及美国自由全球公司三大主体，其中英国主体为上市实体。企业由自由媒体国际业务部与UnitedGlobalCom于2005年合并成立，在全球电信服务领域拥有深厚的行业积累。
AXTA vs LBTYA — 直观对比
营收规模更大
LBTYA
是对方的1.9倍
$1.3B
营收增速更快
LBTYA
高出0.1%
-3.7%
净利率更高
LBTYA
高出10.2%
4.8%
两年增速更快
LBTYA
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.4B |
| 净利润 | $60.0M | $358.2M |
| 毛利率 | 33.4% | — |
| 营业利润率 | 12.8% | 1.0% |
| 净利率 | 4.8% | 15.0% |
| 营收同比 | -3.7% | -3.6% |
| 净利润同比 | -56.2% | 127.1% |
| 每股收益（稀释后） | $0.28 | — |
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AXTALBTYA
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.3B | $-1.4B | ||
| Q3 24 | $1.3B | $1.9B | ||
| Q2 24 | $1.4B | $1.9B |
净利润AXTALBTYA
| Q1 26 | — | $358.2M | ||
| Q4 25 | $60.0M | $-2.9B | ||
| Q3 25 | $110.0M | $-90.7M | ||
| Q2 25 | $109.0M | $-2.8B | ||
| Q1 25 | $99.0M | $-1.3B | ||
| Q4 24 | $137.0M | $2.2B | ||
| Q3 24 | $101.0M | $-1.4B | ||
| Q2 24 | $112.0M | $268.1M |
毛利率AXTALBTYA
| Q1 26 | — | — | ||
| Q4 25 | 33.4% | 66.8% | ||
| Q3 25 | 34.9% | 67.5% | ||
| Q2 25 | 35.0% | 63.3% | ||
| Q1 25 | 34.3% | 65.6% | ||
| Q4 24 | 34.1% | — | ||
| Q3 24 | 35.0% | 69.4% | ||
| Q2 24 | 34.0% | 68.5% |
营业利润率AXTALBTYA
| Q1 26 | — | 1.0% | ||
| Q4 25 | 12.8% | -8.6% | ||
| Q3 25 | 15.8% | -0.7% | ||
| Q2 25 | 14.8% | 2.3% | ||
| Q1 25 | 13.9% | 5.2% | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | 14.6% | 5.2% | ||
| Q2 24 | 15.2% | 1.0% |
净利率AXTALBTYA
| Q1 26 | — | 15.0% | ||
| Q4 25 | 4.8% | -237.0% | ||
| Q3 25 | 8.5% | -7.5% | ||
| Q2 25 | 8.4% | -220.1% | ||
| Q1 25 | 7.8% | -114.2% | ||
| Q4 24 | 10.5% | -158.9% | ||
| Q3 24 | 7.7% | -74.1% | ||
| Q2 24 | 8.3% | 14.3% |
每股收益（稀释后）AXTALBTYA
| Q1 26 | — | — | ||
| Q4 25 | $0.28 | $-8.66 | ||
| Q3 25 | $0.51 | $-0.27 | ||
| Q2 25 | $0.50 | $-8.09 | ||
| Q1 25 | $0.45 | $-3.84 | ||
| Q4 24 | $0.63 | $6.15 | ||
| Q3 24 | $0.46 | $-3.95 | ||
| Q2 24 | $0.51 | $0.71 |
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 | $-387.3M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.3B | — |
| 总资产 | $7.6B | — |
| 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AXTALBTYA
| Q1 26 | — | $-387.3M | ||
| Q4 25 | $657.0M | $2.2B | ||
| Q3 25 | $606.0M | $1.7B | ||
| Q2 25 | $625.0M | $3.1B | ||
| Q1 25 | $575.0M | $2.0B | ||
| Q4 24 | $593.0M | $2.2B | ||
| Q3 24 | $567.0M | $3.3B | ||
| Q2 24 | $840.0M | $3.2B |
总债务AXTALBTYA
| Q1 26 | — | — | ||
| Q4 25 | $3.2B | $7.8B | ||
| Q3 25 | $3.4B | $7.8B | ||
| Q2 25 | $3.4B | $7.8B | ||
| Q1 25 | $3.4B | $8.2B | ||
| Q4 24 | $3.4B | $8.2B | ||
| Q3 24 | $3.5B | $14.9B | ||
| Q2 24 | $3.6B | $14.7B |
股东权益AXTALBTYA
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $9.7B | ||
| Q3 25 | $2.3B | $12.7B | ||
| Q2 25 | $2.3B | $13.0B | ||
| Q1 25 | $2.1B | $12.6B | ||
| Q4 24 | $1.9B | $12.4B | ||
| Q3 24 | $1.9B | $18.7B | ||
| Q2 24 | $1.8B | $18.3B |
总资产AXTALBTYA
| Q1 26 | — | — | ||
| Q4 25 | $7.6B | $22.6B | ||
| Q3 25 | $7.8B | $25.4B | ||
| Q2 25 | $7.8B | $27.2B | ||
| Q1 25 | $7.4B | $26.0B | ||
| Q4 24 | $7.2B | $25.4B | ||
| Q3 24 | $7.5B | $41.8B | ||
| Q2 24 | $7.3B | $40.8B |
负债/权益比AXTALBTYA
| Q1 26 | — | — | ||
| Q4 25 | 1.36× | 0.80× | ||
| Q3 25 | 1.48× | 0.61× | ||
| Q2 25 | 1.50× | 0.60× | ||
| Q1 25 | 1.64× | 0.65× | ||
| Q4 24 | 1.78× | 0.66× | ||
| Q3 24 | 1.84× | 0.80× | ||
| Q2 24 | 2.02× | 0.80× |
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 | $107.6M |
| 自由现金流经营现金流 - 资本支出 | $286.0M | — |
| 自由现金流率自由现金流/营收 | 22.7% | — |
| 资本支出强度资本支出/营收 | 4.6% | 1.5% |
| 现金转化率经营现金流/净利润 | 5.73× | 0.30× |
| 过去12个月自由现金流最近4个季度 | $453.0M | — |
8季度趋势，按日历期对齐
经营现金流AXTALBTYA
| Q1 26 | — | $107.6M | ||
| Q4 25 | $344.0M | $630.9M | ||
| Q3 25 | $137.0M | $301.8M | ||
| Q2 25 | $142.0M | $149.2M | ||
| Q1 25 | $26.0M | $129.2M | ||
| Q4 24 | $234.0M | $791.6M | ||
| Q3 24 | $194.0M | $449.5M | ||
| Q2 24 | $114.0M | $546.1M |
自由现金流AXTALBTYA
| Q1 26 | — | — | ||
| Q4 25 | $286.0M | $193.3M | ||
| Q3 25 | $87.0M | $-41.1M | ||
| Q2 25 | $97.0M | $-170.1M | ||
| Q1 25 | $-17.0M | $-114.1M | ||
| Q4 24 | $172.0M | $712.9M | ||
| Q3 24 | $161.0M | $102.4M | ||
| Q2 24 | $91.0M | $256.8M |
自由现金流率AXTALBTYA
| Q1 26 | — | — | ||
| Q4 25 | 22.7% | 15.7% | ||
| Q3 25 | 6.8% | -3.4% | ||
| Q2 25 | 7.4% | -13.4% | ||
| Q1 25 | -1.3% | -9.7% | ||
| Q4 24 | 13.1% | -50.5% | ||
| Q3 24 | 12.2% | 5.3% | ||
| Q2 24 | 6.7% | 13.7% |
资本支出强度AXTALBTYA
| Q1 26 | — | 1.5% | ||
| Q4 25 | 4.6% | 35.5% | ||
| Q3 25 | 3.9% | 28.4% | ||
| Q2 25 | 3.4% | 25.2% | ||
| Q1 25 | 3.4% | 20.8% | ||
| Q4 24 | 4.7% | -5.6% | ||
| Q3 24 | 2.5% | 17.9% | ||
| Q2 24 | 1.7% | 15.4% |
现金转化率AXTALBTYA
| Q1 26 | — | 0.30× | ||
| Q4 25 | 5.73× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.30× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 1.71× | 0.35× | ||
| Q3 24 | 1.92× | — | ||
| Q2 24 | 1.02× | 2.04× |
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% |
LBTYA
| Mobile Service | $775.2M | 32% |
| Fixed Service | $772.0M | 32% |
| Business | $308.7M | 13% |
| Wholesale | $256.9M | 11% |
| Business Service | $233.2M | 10% |
