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AZZ INC（AZZ）与XPEL, Inc.（XPEL）财务数据对比。点击上方公司名可切换其他公司
AZZ INC的季度营收约是XPEL, Inc.的3.1倍（$385.1M vs $122.3M）。XPEL, Inc.净利率更高（11.0% vs 4.1%，领先6.8%）。XPEL, Inc.同比增速更快（13.7% vs -75.6%）。过去两年XPEL, Inc.的营收复合增速更高（16.5% vs -3.5%）
AZZ公司是全球领先的金属防护解决方案供应商，主营热浸镀锌、表面涂层处理服务及特种电气、工业零部件，主要服务于北美及其他核心国际市场的建筑、能源、基建、制造等下游领域。
XPEL是全球知名的高性能表面保护膜解决方案供应商，核心产品涵盖汽车漆面保护膜、车窗隔热膜、陶瓷涂层等，业务覆盖北美、欧洲、亚太等主要市场，服务对象包括普通车主、汽车经销商及专业安装服务商。
AZZ vs XPEL — 直观对比
营收规模更大
AZZ
是对方的3.1倍
$122.3M
营收增速更快
XPEL
高出89.3%
-75.6%
净利率更高
XPEL
高出6.8%
4.1%
两年增速更快
XPEL
近两年复合增速
-3.5%
损益表 — Q4 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $385.1M | $122.3M |
| 净利润 | $15.9M | $13.4M |
| 毛利率 | 22.7% | 41.9% |
| 营业利润率 | 14.8% | 12.7% |
| 净利率 | 4.1% | 11.0% |
| 营收同比 | -75.6% | 13.7% |
| 净利润同比 | -21.2% | 50.7% |
| 每股收益（稀释后） | $0.53 | $0.48 |
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AZZXPEL
| Q4 26 | $385.1M | — | ||
| Q4 25 | $425.7M | $122.3M | ||
| Q3 25 | $417.3M | $125.4M | ||
| Q2 25 | $422.0M | $124.7M | ||
| Q1 25 | $351.9M | $103.8M | ||
| Q4 24 | $403.7M | $107.5M | ||
| Q3 24 | $409.0M | $112.9M | ||
| Q2 24 | $413.2M | $109.9M |
净利润AZZXPEL
| Q4 26 | $15.9M | — | ||
| Q4 25 | $41.1M | $13.4M | ||
| Q3 25 | $89.3M | $12.9M | ||
| Q2 25 | $170.9M | $16.3M | ||
| Q1 25 | $20.2M | $8.6M | ||
| Q4 24 | $33.6M | $8.9M | ||
| Q3 24 | $35.4M | $14.9M | ||
| Q2 24 | $39.6M | $15.0M |
毛利率AZZXPEL
| Q4 26 | 22.7% | — | ||
| Q4 25 | 23.9% | 41.9% | ||
| Q3 25 | 24.3% | 41.8% | ||
| Q2 25 | 24.7% | 42.9% | ||
| Q1 25 | 22.4% | 42.3% | ||
| Q4 24 | 24.2% | 40.6% | ||
| Q3 24 | 25.3% | 42.5% | ||
| Q2 24 | 24.8% | 43.5% |
营业利润率AZZXPEL
| Q4 26 | 14.8% | — | ||
| Q4 25 | 16.3% | 12.7% | ||
| Q3 25 | 16.4% | 13.4% | ||
| Q2 25 | 16.5% | 15.5% | ||
| Q1 25 | 11.5% | 10.7% | ||
| Q4 24 | 14.5% | 11.5% | ||
| Q3 24 | 16.5% | 16.3% | ||
| Q2 24 | 16.9% | 17.5% |
净利率AZZXPEL
| Q4 26 | 4.1% | — | ||
| Q4 25 | 9.6% | 11.0% | ||
| Q3 25 | 21.4% | 10.3% | ||
| Q2 25 | 40.5% | 13.1% | ||
| Q1 25 | 5.7% | 8.3% | ||
| Q4 24 | 8.3% | 8.3% | ||
| Q3 24 | 8.7% | 13.2% | ||
| Q2 24 | 9.6% | 13.7% |
每股收益（稀释后）AZZXPEL
| Q4 26 | $0.53 | — | ||
| Q4 25 | $1.36 | $0.48 | ||
| Q3 25 | $2.95 | $0.47 | ||
| Q2 25 | $5.66 | $0.59 | ||
| Q1 25 | $0.87 | $0.31 | ||
| Q4 24 | $1.12 | $0.33 | ||
| Q3 24 | $1.18 | $0.54 | ||
| Q2 24 | $-1.38 | $0.54 |
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 | — | $50.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $280.3M |
| 总资产 | $2.2B | $382.5M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AZZXPEL
| Q4 26 | — | — | ||
| Q4 25 | $623.0K | $50.9M | ||
| Q3 25 | $897.0K | $64.5M | ||
| Q2 25 | $3.0M | $49.6M | ||
| Q1 25 | $1.5M | $23.5M | ||
| Q4 24 | $1.5M | $22.1M | ||
| Q3 24 | $2.2M | $21.0M | ||
| Q2 24 | $10.5M | $15.0M |
股东权益AZZXPEL
| Q4 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $280.3M | ||
| Q3 25 | $1.3B | $269.3M | ||
| Q2 25 | $1.2B | $255.7M | ||
| Q1 25 | $1.0B | $235.5M | ||
| Q4 24 | $1.0B | $225.5M | ||
| Q3 24 | $999.8M | $218.7M | ||
| Q2 24 | $967.2M | $201.9M |
总资产AZZXPEL
| Q4 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $382.5M | ||
| Q3 25 | $2.2B | $387.7M | ||
| Q2 25 | $2.2B | $318.1M | ||
| Q1 25 | $2.2B | $294.8M | ||
| Q4 24 | $2.2B | $285.6M | ||
| Q3 24 | $2.2B | $273.0M | ||
| Q2 24 | $2.2B | $261.8M |
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 | $525.4M | $2.7M |
| 自由现金流经营现金流 - 资本支出 | — | $1.6M |
| 自由现金流率自由现金流/营收 | — | 1.3% |
| 资本支出强度资本支出/营收 | — | 0.9% |
| 现金转化率经营现金流/净利润 | 32.98× | 0.20× |
| 过去12个月自由现金流最近4个季度 | — | $62.9M |
8季度趋势，按日历期对齐
经营现金流AZZXPEL
| Q4 26 | $525.4M | — | ||
| Q4 25 | $79.7M | $2.7M | ||
| Q3 25 | $58.4M | $33.2M | ||
| Q2 25 | $314.8M | $27.9M | ||
| Q1 25 | — | $3.2M | ||
| Q4 24 | $66.2M | $6.3M | ||
| Q3 24 | $47.5M | $19.6M | ||
| Q2 24 | $71.9M | $26.9M |
自由现金流AZZXPEL
| Q4 26 | — | — | ||
| Q4 25 | $61.2M | $1.6M | ||
| Q3 25 | $39.1M | $32.2M | ||
| Q2 25 | $293.9M | $26.9M | ||
| Q1 25 | — | $2.2M | ||
| Q4 24 | $39.7M | $4.7M | ||
| Q3 24 | $15.4M | $18.3M | ||
| Q2 24 | $44.5M | $25.1M |
自由现金流率AZZXPEL
| Q4 26 | — | — | ||
| Q4 25 | 14.4% | 1.3% | ||
| Q3 25 | 9.4% | 25.6% | ||
| Q2 25 | 69.6% | 21.6% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | 9.8% | 4.4% | ||
| Q3 24 | 3.8% | 16.2% | ||
| Q2 24 | 10.8% | 22.8% |
资本支出强度AZZXPEL
| Q4 26 | — | — | ||
| Q4 25 | 4.4% | 0.9% | ||
| Q3 25 | 4.6% | 0.8% | ||
| Q2 25 | 5.0% | 0.8% | ||
| Q1 25 | 8.5% | 1.0% | ||
| Q4 24 | 6.6% | 1.5% | ||
| Q3 24 | 7.8% | 1.1% | ||
| Q2 24 | 6.6% | 1.6% |
现金转化率AZZXPEL
| Q4 26 | 32.98× | — | ||
| Q4 25 | 1.94× | 0.20× | ||
| Q3 25 | 0.65× | 2.56× | ||
| Q2 25 | 1.84× | 1.71× | ||
| Q1 25 | — | 0.38× | ||
| Q4 24 | 1.97× | 0.71× | ||
| Q3 24 | 1.34× | 1.31× | ||
| Q2 24 | 1.82× | 1.79× |
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
AZZ
| Precoat Metals | $203.5M | 53% |
| Metal Coatings | $186.5M | 48% |
XPEL
| Products | $90.9M | 74% |
| Service Revenue Installation Labor | $23.8M | 19% |
| Service Revenue Cutbank Credits | $4.1M | 3% |
| Service Revenue Software | $2.2M | 2% |
