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艾仕得（AXTA）与北极星（PII）财务数据对比。点击上方公司名可切换其他公司
北极星的季度营收约是艾仕得的1.3倍（$1.7B vs $1.3B），艾仕得净利率更高（4.8% vs -2.8%，领先7.6%），北极星同比增速更快（8.0% vs -3.7%），艾仕得自由现金流更多（$286.0M vs $-342.5M），过去两年艾仕得的营收复合增速更高（-1.2% vs -8.0%）
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。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
AXTA vs PII — 直观对比
营收规模更大
PII
是对方的1.3倍
$1.3B
营收增速更快
PII
高出11.7%
-3.7%
净利率更高
AXTA
高出7.6%
-2.8%
自由现金流更多
AXTA
多$628.5M
$-342.5M
两年增速更快
AXTA
近两年复合增速
-8.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.7B |
| 净利润 | $60.0M | $-47.2M |
| 毛利率 | 33.4% | 20.2% |
| 营业利润率 | 12.8% | 76.5% |
| 净利率 | 4.8% | -2.8% |
| 营收同比 | -3.7% | 8.0% |
| 净利润同比 | -56.2% | 29.0% |
| 每股收益（稀释后） | $0.28 | $-0.83 |
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AXTAPII
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.3B | $1.9B | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $1.3B | $1.9B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $1.4B | $2.0B |
净利润AXTAPII
| Q1 26 | — | $-47.2M | ||
| Q4 25 | $60.0M | $-303.6M | ||
| Q3 25 | $110.0M | $-15.8M | ||
| Q2 25 | $109.0M | $-79.3M | ||
| Q1 25 | $99.0M | $-66.8M | ||
| Q4 24 | $137.0M | $10.6M | ||
| Q3 24 | $101.0M | $27.7M | ||
| Q2 24 | $112.0M | $68.7M |
毛利率AXTAPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | 33.4% | 20.0% | ||
| Q3 25 | 34.9% | 20.7% | ||
| Q2 25 | 35.0% | 19.4% | ||
| Q1 25 | 34.3% | 16.0% | ||
| Q4 24 | 34.1% | 20.4% | ||
| Q3 24 | 35.0% | 20.6% | ||
| Q2 24 | 34.0% | 21.6% |
营业利润率AXTAPII
| Q1 26 | — | 76.5% | ||
| Q4 25 | 12.8% | -16.7% | ||
| Q3 25 | 15.8% | 1.1% | ||
| Q2 25 | 14.8% | -0.7% | ||
| Q1 25 | 13.9% | -2.4% | ||
| Q4 24 | 14.3% | 3.7% | ||
| Q3 24 | 14.6% | 3.8% | ||
| Q2 24 | 15.2% | 6.1% |
净利率AXTAPII
| Q1 26 | — | -2.8% | ||
| Q4 25 | 4.8% | -15.8% | ||
| Q3 25 | 8.5% | -0.9% | ||
| Q2 25 | 8.4% | -4.3% | ||
| Q1 25 | 7.8% | -4.3% | ||
| Q4 24 | 10.5% | 0.6% | ||
| Q3 24 | 7.7% | 1.6% | ||
| Q2 24 | 8.3% | 3.5% |
每股收益（稀释后）AXTAPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $0.28 | $-5.34 | ||
| Q3 25 | $0.51 | $-0.28 | ||
| Q2 25 | $0.50 | $-1.39 | ||
| Q1 25 | $0.45 | $-1.17 | ||
| Q4 24 | $0.63 | $0.18 | ||
| Q3 24 | $0.46 | $0.49 | ||
| Q2 24 | $0.51 | $1.21 |
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 | $282.0M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.3B | $750.4M |
| 总资产 | $7.6B | $5.2B |
| 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AXTAPII
| Q1 26 | — | $282.0M | ||
| Q4 25 | $657.0M | $138.0M | ||
| Q3 25 | $606.0M | $335.5M | ||
| Q2 25 | $625.0M | $324.3M | ||
| Q1 25 | $575.0M | $291.7M | ||
| Q4 24 | $593.0M | $287.8M | ||
| Q3 24 | $567.0M | $291.3M | ||
| Q2 24 | $840.0M | $322.7M |
总债务AXTAPII
| Q1 26 | — | — | ||
| Q4 25 | $3.2B | $1.5B | ||
| Q3 25 | $3.4B | $1.3B | ||
| Q2 25 | $3.4B | $1.4B | ||
| Q1 25 | $3.4B | $1.6B | ||
| Q4 24 | $3.4B | $1.6B | ||
| Q3 24 | $3.5B | $1.7B | ||
| Q2 24 | $3.6B | $2.1B |
股东权益AXTAPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | $2.3B | $828.4M | ||
| Q3 25 | $2.3B | $1.1B | ||
| Q2 25 | $2.3B | $1.2B | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $1.9B | $1.3B | ||
| Q3 24 | $1.9B | $1.3B | ||
| Q2 24 | $1.8B | $1.3B |
总资产AXTAPII
| Q1 26 | — | $5.2B | ||
| Q4 25 | $7.6B | $4.9B | ||
| Q3 25 | $7.8B | $5.3B | ||
| Q2 25 | $7.8B | $5.4B | ||
| Q1 25 | $7.4B | $5.5B | ||
| Q4 24 | $7.2B | $5.5B | ||
| Q3 24 | $7.5B | $5.6B | ||
| Q2 24 | $7.3B | $5.7B |
负债/权益比AXTAPII
| Q1 26 | — | — | ||
| Q4 25 | 1.36× | 1.82× | ||
| Q3 25 | 1.48× | 1.13× | ||
| Q2 25 | 1.50× | 1.17× | ||
| Q1 25 | 1.64× | 1.32× | ||
| Q4 24 | 1.78× | 1.27× | ||
| Q3 24 | 1.84× | 1.29× | ||
| Q2 24 | 2.02× | 1.56× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $286.0M | $-342.5M |
| 自由现金流率自由现金流/营收 | 22.7% | -20.6% |
| 资本支出强度资本支出/营收 | 4.6% | — |
| 现金转化率经营现金流/净利润 | 5.73× | — |
| 过去12个月自由现金流最近4个季度 | $453.0M | $168.0M |
8季度趋势，按日历期对齐
经营现金流AXTAPII
| Q1 26 | — | — | ||
| Q4 25 | $344.0M | $178.7M | ||
| Q3 25 | $137.0M | $158.8M | ||
| Q2 25 | $142.0M | $320.3M | ||
| Q1 25 | $26.0M | $83.2M | ||
| Q4 24 | $234.0M | $206.3M | ||
| Q3 24 | $194.0M | $21.0M | ||
| Q2 24 | $114.0M | $146.3M |
自由现金流AXTAPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $286.0M | $114.0M | ||
| Q3 25 | $87.0M | $116.7M | ||
| Q2 25 | $97.0M | $279.8M | ||
| Q1 25 | $-17.0M | $47.6M | ||
| Q4 24 | $172.0M | $137.3M | ||
| Q3 24 | $161.0M | $-32.4M | ||
| Q2 24 | $91.0M | $79.1M |
自由现金流率AXTAPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | 22.7% | 5.9% | ||
| Q3 25 | 6.8% | 6.3% | ||
| Q2 25 | 7.4% | 15.1% | ||
| Q1 25 | -1.3% | 3.1% | ||
| Q4 24 | 13.1% | 7.8% | ||
| Q3 24 | 12.2% | -1.9% | ||
| Q2 24 | 6.7% | 4.0% |
资本支出强度AXTAPII
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 3.4% | ||
| Q3 25 | 3.9% | 2.3% | ||
| Q2 25 | 3.4% | 2.2% | ||
| Q1 25 | 3.4% | 2.3% | ||
| Q4 24 | 4.7% | 3.9% | ||
| Q3 24 | 2.5% | 3.1% | ||
| Q2 24 | 1.7% | 3.4% |
现金转化率AXTAPII
| Q1 26 | — | — | ||
| Q4 25 | 5.73× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.30× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 1.71× | 19.46× | ||
| Q3 24 | 1.92× | 0.76× | ||
| Q2 24 | 1.02× | 2.13× |
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% |
PII
暂无分部数据
