vs
波音（BA）与花旗集团（C）财务数据对比。点击上方公司名可切换其他公司
波音的季度营收约是花旗集团的1.1倍（$22.2B vs $19.9B），花旗集团净利率更高（12.4% vs -0.0%，领先12.5%），花旗集团自由现金流更多（$24.9B vs $-1.5B）
波音公司是美国跨国航空航天企业，1916年成立，业务覆盖民用飞机、旋翼机、火箭、卫星、导弹的设计、制造与全球销售，同时提供租赁及产品配套支持服务。作为全球头部航空航天制造商，按2022年营收计为全球第四大国防承包商，也是美国按金额计算的最大出口企业。
花旗集团（常简称Citi）是总部位于美国纽约的跨国投资银行及金融服务巨头。集团于1998年由花旗银行的控股公司花旗公司与旅行者集团合并成立，2002年旅行者相关业务被拆分独立运营。
BA vs C — 直观对比
营收规模更大
BA
是对方的1.1倍
$19.9B
净利率更高
C
高出12.5%
-0.0%
自由现金流更多
C
多$26.4B
$-1.5B
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $22.2B | $19.9B |
| 净利润 | $-7.0M | $2.5B |
| 毛利率 | — | — |
| 营业利润率 | 2.0% | 19.2% |
| 净利率 | -0.0% | 12.4% |
| 营收同比 | 14.0% | — |
| 净利润同比 | 77.4% | — |
| 每股收益（稀释后） | $-0.11 | $1.21 |
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BAC
| Q1 26 | $22.2B | — | ||
| Q4 25 | $23.9B | $19.9B | ||
| Q3 25 | $23.3B | $22.1B | ||
| Q2 25 | $22.7B | $21.7B | ||
| Q1 25 | $19.5B | $21.6B | ||
| Q4 24 | $15.2B | — | ||
| Q3 24 | $17.8B | $20.3B | ||
| Q2 24 | $16.9B | $20.1B |
净利润BAC
| Q1 26 | $-7.0M | — | ||
| Q4 25 | $8.2B | $2.5B | ||
| Q3 25 | $-5.3B | $3.8B | ||
| Q2 25 | $-611.0M | $4.0B | ||
| Q1 25 | $-37.0M | $4.1B | ||
| Q4 24 | $-3.9B | — | ||
| Q3 24 | $-6.2B | $3.2B | ||
| Q2 24 | $-1.4B | $3.2B |
毛利率BAC
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | — | ||
| Q3 25 | -10.2% | — | ||
| Q2 25 | 10.7% | — | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | -10.4% | — | ||
| Q3 24 | -19.7% | — | ||
| Q2 24 | 7.3% | — |
营业利润率BAC
| Q1 26 | 2.0% | — | ||
| Q4 25 | 36.7% | 19.2% | ||
| Q3 25 | -20.5% | 24.2% | ||
| Q2 25 | -0.8% | 24.1% | ||
| Q1 25 | 2.4% | 25.2% | ||
| Q4 24 | -24.7% | — | ||
| Q3 24 | -32.3% | 21.6% | ||
| Q2 24 | -6.5% | 21.4% |
净利率BAC
| Q1 26 | -0.0% | — | ||
| Q4 25 | 34.3% | 12.4% | ||
| Q3 25 | -22.9% | 17.0% | ||
| Q2 25 | -2.7% | 18.5% | ||
| Q1 25 | -0.2% | 18.8% | ||
| Q4 24 | -25.4% | — | ||
| Q3 24 | -34.6% | 15.9% | ||
| Q2 24 | -8.5% | 16.0% |
每股收益（稀释后）BAC
| Q1 26 | $-0.11 | — | ||
| Q4 25 | $10.70 | $1.21 | ||
| Q3 25 | $-7.14 | $1.86 | ||
| Q2 25 | $-0.92 | $1.96 | ||
| Q1 25 | $-0.16 | $1.96 | ||
| Q4 24 | $-5.50 | — | ||
| Q3 24 | $-9.97 | $1.51 | ||
| Q2 24 | $-2.33 | $1.52 |
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 | $9.4B | — |
| 总债务越低越好 | $44.4B | $315.8B |
| 股东权益账面价值 | $6.0B | $212.3B |
| 总资产 | $164.8B | $2657.2B |
| 负债/权益比越低杠杆越低 | 7.41× | 1.49× |
8季度趋势，按日历期对齐
现金及短期投资BAC
| Q1 26 | $9.4B | — | ||
| Q4 25 | $29.4B | — | ||
| Q3 25 | $23.0B | — | ||
| Q2 25 | $23.0B | — | ||
| Q1 25 | $23.7B | — | ||
| Q4 24 | $26.3B | — | ||
| Q3 24 | $10.5B | — | ||
| Q2 24 | $12.6B | — |
总债务BAC
| Q1 26 | $44.4B | — | ||
| Q4 25 | $45.6B | $315.8B | ||
| Q3 25 | $44.6B | $315.8B | ||
| Q2 25 | $44.6B | $317.8B | ||
| Q1 25 | $45.7B | $295.7B | ||
| Q4 24 | $52.6B | — | ||
| Q3 24 | $53.2B | $299.1B | ||
| Q2 24 | $53.2B | $280.3B |
股东权益BAC
| Q1 26 | $6.0B | — | ||
| Q4 25 | $5.5B | $212.3B | ||
| Q3 25 | $-8.3B | $213.0B | ||
| Q2 25 | $-3.3B | $213.2B | ||
| Q1 25 | $-3.3B | $212.4B | ||
| Q4 24 | $-3.9B | — | ||
| Q3 24 | $-23.6B | $209.1B | ||
| Q2 24 | $-18.0B | $208.3B |
总资产BAC
| Q1 26 | $164.8B | — | ||
| Q4 25 | $168.2B | $2657.2B | ||
| Q3 25 | $150.0B | $2642.5B | ||
| Q2 25 | $155.1B | $2622.8B | ||
| Q1 25 | $156.5B | $2571.5B | ||
| Q4 24 | $156.4B | — | ||
| Q3 24 | $137.7B | $2430.7B | ||
| Q2 24 | $142.7B | $2405.7B |
负债/权益比BAC
| Q1 26 | 7.41× | — | ||
| Q4 25 | 8.37× | 1.49× | ||
| Q3 25 | — | 1.48× | ||
| Q2 25 | — | 1.49× | ||
| Q1 25 | — | 1.39× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.43× | ||
| Q2 24 | — | 1.35× |
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 | — | $26.6B |
| 自由现金流经营现金流 - 资本支出 | $-1.5B | $24.9B |
| 自由现金流率自由现金流/营收 | -6.5% | 125.4% |
| 资本支出强度资本支出/营收 | — | 8.2% |
| 现金转化率经营现金流/净利润 | — | 10.75× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $-74.2B |
8季度趋势，按日历期对齐
经营现金流BAC
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $26.6B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $227.0M | $-36.6B | ||
| Q1 25 | $-1.6B | $-58.7B | ||
| Q4 24 | $-3.5B | — | ||
| Q3 24 | $-1.3B | — | ||
| Q2 24 | $-3.9B | — |
自由现金流BAC
| Q1 26 | $-1.5B | — | ||
| Q4 25 | $375.0M | $24.9B | ||
| Q3 25 | $238.0M | $-517.0M | ||
| Q2 25 | $-200.0M | $-38.3B | ||
| Q1 25 | $-2.3B | $-60.2B | ||
| Q4 24 | $-4.1B | — | ||
| Q3 24 | $-2.0B | — | ||
| Q2 24 | $-4.3B | — |
自由现金流率BAC
| Q1 26 | -6.5% | — | ||
| Q4 25 | 1.6% | 125.4% | ||
| Q3 25 | 1.0% | -2.3% | ||
| Q2 25 | -0.9% | -176.9% | ||
| Q1 25 | -11.7% | -278.9% | ||
| Q4 24 | -26.9% | — | ||
| Q3 24 | -11.0% | — | ||
| Q2 24 | -25.7% | — |
资本支出强度BAC
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 8.2% | ||
| Q3 25 | 3.8% | 7.3% | ||
| Q2 25 | 1.9% | 8.1% | ||
| Q1 25 | 3.5% | 7.0% | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 2.4% | — |
现金转化率BAC
| Q1 26 | — | — | ||
| Q4 25 | 0.16× | 10.75× | ||
| Q3 25 | — | 0.29× | ||
| Q2 25 | — | -9.10× | ||
| Q1 25 | — | -14.45× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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
BA
| Commercial Airplanes | $9.2B | 41% |
| Defense, Space & Security | $7.6B | 34% |
| Global Services | $5.4B | 24% |
C
| Services | $5.9B | 30% |
| Markets | $4.5B | 23% |
| Commissions And Fees | $3.1B | 16% |
| Banking Segment | $2.2B | 11% |
| Wealth | $2.1B | 11% |
| Commercial Portfolio Segment | $1.7B | 9% |
| Brokerage Commissions | $249.0M | 1% |
