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波音（BA）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
波音的季度营收约是北极星的11.6倍（$22.2B vs $1.9B）。波音净利率更高（-0.0% vs -15.8%，领先15.8%）。波音同比增速更快（14.0% vs 9.5%）。北极星自由现金流更多（$114.0M vs $-1.5B）。过去两年波音的营收复合增速更高（14.8% vs 5.2%）
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。
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。
BA vs PII — 直观对比
营收规模更大
BA
是对方的11.6倍
$1.9B
营收增速更快
BA
高出4.5%
9.5%
净利率更高
BA
高出15.8%
-15.8%
自由现金流更多
PII
多$1.6B
$-1.5B
两年增速更快
BA
近两年复合增速
5.2%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $22.2B | $1.9B |
| 净利润 | $-7.0M | $-303.6M |
| 毛利率 | — | 20.0% |
| 营业利润率 | 2.0% | -16.7% |
| 净利率 | -0.0% | -15.8% |
| 营收同比 | 14.0% | 9.5% |
| 净利润同比 | 77.4% | -2964.2% |
| 每股收益（稀释后） | $-0.11 | $-5.34 |
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BAPII
| Q1 26 | $22.2B | — | ||
| Q4 25 | $23.9B | $1.9B | ||
| Q3 25 | $23.3B | $1.8B | ||
| Q2 25 | $22.7B | $1.9B | ||
| Q1 25 | $19.5B | $1.5B | ||
| Q4 24 | $15.2B | $1.8B | ||
| Q3 24 | $17.8B | $1.7B | ||
| Q2 24 | $16.9B | $2.0B |
净利润BAPII
| Q1 26 | $-7.0M | — | ||
| Q4 25 | $8.2B | $-303.6M | ||
| Q3 25 | $-5.3B | $-15.8M | ||
| Q2 25 | $-611.0M | $-79.3M | ||
| Q1 25 | $-37.0M | $-66.8M | ||
| Q4 24 | $-3.9B | $10.6M | ||
| Q3 24 | $-6.2B | $27.7M | ||
| Q2 24 | $-1.4B | $68.7M |
毛利率BAPII
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 20.0% | ||
| Q3 25 | -10.2% | 20.7% | ||
| Q2 25 | 10.7% | 19.4% | ||
| Q1 25 | 12.4% | 16.0% | ||
| Q4 24 | -10.4% | 20.4% | ||
| Q3 24 | -19.7% | 20.6% | ||
| Q2 24 | 7.3% | 21.6% |
营业利润率BAPII
| Q1 26 | 2.0% | — | ||
| Q4 25 | 36.7% | -16.7% | ||
| Q3 25 | -20.5% | 1.1% | ||
| Q2 25 | -0.8% | -0.7% | ||
| Q1 25 | 2.4% | -2.4% | ||
| Q4 24 | -24.7% | 3.7% | ||
| Q3 24 | -32.3% | 3.8% | ||
| Q2 24 | -6.5% | 6.1% |
净利率BAPII
| Q1 26 | -0.0% | — | ||
| Q4 25 | 34.3% | -15.8% | ||
| Q3 25 | -22.9% | -0.9% | ||
| Q2 25 | -2.7% | -4.3% | ||
| Q1 25 | -0.2% | -4.3% | ||
| Q4 24 | -25.4% | 0.6% | ||
| Q3 24 | -34.6% | 1.6% | ||
| Q2 24 | -8.5% | 3.5% |
每股收益（稀释后）BAPII
| Q1 26 | $-0.11 | — | ||
| Q4 25 | $10.70 | $-5.34 | ||
| Q3 25 | $-7.14 | $-0.28 | ||
| Q2 25 | $-0.92 | $-1.39 | ||
| Q1 25 | $-0.16 | $-1.17 | ||
| Q4 24 | $-5.50 | $0.18 | ||
| Q3 24 | $-9.97 | $0.49 | ||
| Q2 24 | $-2.33 | $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 | $9.4B | $138.0M |
| 总债务越低越好 | $44.4B | $1.5B |
| 股东权益账面价值 | $6.0B | $828.4M |
| 总资产 | $164.8B | $4.9B |
| 负债/权益比越低杠杆越低 | 7.41× | 1.82× |
8季度趋势，按日历期对齐
现金及短期投资BAPII
| Q1 26 | $9.4B | — | ||
| Q4 25 | $29.4B | $138.0M | ||
| Q3 25 | $23.0B | $335.5M | ||
| Q2 25 | $23.0B | $324.3M | ||
| Q1 25 | $23.7B | $291.7M | ||
| Q4 24 | $26.3B | $287.8M | ||
| Q3 24 | $10.5B | $291.3M | ||
| Q2 24 | $12.6B | $322.7M |
总债务BAPII
| Q1 26 | $44.4B | — | ||
| Q4 25 | $45.6B | $1.5B | ||
| Q3 25 | $44.6B | $1.3B | ||
| Q2 25 | $44.6B | $1.4B | ||
| Q1 25 | $45.7B | $1.6B | ||
| Q4 24 | $52.6B | $1.6B | ||
| Q3 24 | $53.2B | $1.7B | ||
| Q2 24 | $53.2B | $2.1B |
股东权益BAPII
| Q1 26 | $6.0B | — | ||
| Q4 25 | $5.5B | $828.4M | ||
| Q3 25 | $-8.3B | $1.1B | ||
| Q2 25 | $-3.3B | $1.2B | ||
| Q1 25 | $-3.3B | $1.2B | ||
| Q4 24 | $-3.9B | $1.3B | ||
| Q3 24 | $-23.6B | $1.3B | ||
| Q2 24 | $-18.0B | $1.3B |
总资产BAPII
| Q1 26 | $164.8B | — | ||
| Q4 25 | $168.2B | $4.9B | ||
| Q3 25 | $150.0B | $5.3B | ||
| Q2 25 | $155.1B | $5.4B | ||
| Q1 25 | $156.5B | $5.5B | ||
| Q4 24 | $156.4B | $5.5B | ||
| Q3 24 | $137.7B | $5.6B | ||
| Q2 24 | $142.7B | $5.7B |
负债/权益比BAPII
| Q1 26 | 7.41× | — | ||
| Q4 25 | 8.37× | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 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 | — | $178.7M |
| 自由现金流经营现金流 - 资本支出 | $-1.5B | $114.0M |
| 自由现金流率自由现金流/营收 | -6.5% | 5.9% |
| 资本支出强度资本支出/营收 | — | 3.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $558.1M |
8季度趋势，按日历期对齐
经营现金流BAPII
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $178.7M | ||
| Q3 25 | $1.1B | $158.8M | ||
| Q2 25 | $227.0M | $320.3M | ||
| Q1 25 | $-1.6B | $83.2M | ||
| Q4 24 | $-3.5B | $206.3M | ||
| Q3 24 | $-1.3B | $21.0M | ||
| Q2 24 | $-3.9B | $146.3M |
自由现金流BAPII
| Q1 26 | $-1.5B | — | ||
| Q4 25 | $375.0M | $114.0M | ||
| Q3 25 | $238.0M | $116.7M | ||
| Q2 25 | $-200.0M | $279.8M | ||
| Q1 25 | $-2.3B | $47.6M | ||
| Q4 24 | $-4.1B | $137.3M | ||
| Q3 24 | $-2.0B | $-32.4M | ||
| Q2 24 | $-4.3B | $79.1M |
自由现金流率BAPII
| Q1 26 | -6.5% | — | ||
| Q4 25 | 1.6% | 5.9% | ||
| Q3 25 | 1.0% | 6.3% | ||
| Q2 25 | -0.9% | 15.1% | ||
| Q1 25 | -11.7% | 3.1% | ||
| Q4 24 | -26.9% | 7.8% | ||
| Q3 24 | -11.0% | -1.9% | ||
| Q2 24 | -25.7% | 4.0% |
资本支出强度BAPII
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 3.4% | ||
| Q3 25 | 3.8% | 2.3% | ||
| Q2 25 | 1.9% | 2.2% | ||
| Q1 25 | 3.5% | 2.3% | ||
| Q4 24 | 4.3% | 3.9% | ||
| Q3 24 | 3.4% | 3.1% | ||
| Q2 24 | 2.4% | 3.4% |
现金转化率BAPII
| Q1 26 | — | — | ||
| Q4 25 | 0.16× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 19.46× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | — | 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
BA
| Commercial Airplanes | $9.2B | 41% |
| Defense, Space & Security | $7.6B | 34% |
| Global Services | $5.4B | 24% |
PII
| Wholegoods | $1.1B | 58% |
| Other | $243.3M | 13% |
| On Road Segment | $187.2M | 10% |
| Marine Segment | $138.3M | 7% |
| CA | $134.5M | 7% |
| APLA | $76.7M | 4% |
| Financial Service | $19.7M | 1% |
