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达美航空（DAL）与摩根士丹利（MS）财务数据对比。点击上方公司名可切换其他公司
摩根士丹利的季度营收约是达美航空的1.1倍（$17.9B vs $16.0B）
达美航空是美国头部航空公司，总部位于佐治亚州亚特兰大，共设有9个航空枢纽，其中哈兹菲尔德-杰克逊亚特兰大国际机场是其客运量、出发班次最高的枢纽。旗下区域子公司及合作运营商以“达美连接”品牌运营，每日执飞超5400个航班，航线覆盖六大洲52个国家的325个目的地。
摩根士丹利是总部位于美国纽约曼哈顿中城百老汇1585号的跨国投资银行及金融服务提供商，在全球42个国家设有办事处，员工超8万名，服务客户涵盖企业、政府、机构及个人。2023年该公司位列美国财富500强第61位，同年位居福布斯全球2000强第30位。
DAL vs MS — 直观对比
营收规模更大
MS
是对方的1.1倍
$16.0B
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $16.0B | $17.9B |
| 净利润 | — | $4.4B |
| 毛利率 | — | — |
| 营业利润率 | 9.2% | 32.2% |
| 净利率 | — | 24.6% |
| 营收同比 | 14.0% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $1.85 | $2.68 |
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DALMS
| Q1 26 | $16.0B | — | ||
| Q4 25 | $16.0B | $17.9B | ||
| Q3 25 | $16.7B | $18.2B | ||
| Q2 25 | $16.6B | $16.8B | ||
| Q1 25 | $14.0B | $17.7B | ||
| Q4 24 | $15.6B | — | ||
| Q3 24 | $15.7B | $15.4B | ||
| Q2 24 | $16.7B | $15.0B |
净利润DALMS
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $4.4B | ||
| Q3 25 | $1.4B | $4.6B | ||
| Q2 25 | $2.1B | $3.5B | ||
| Q1 25 | $240.0M | $4.3B | ||
| Q4 24 | $843.0M | — | ||
| Q3 24 | $1.3B | $3.2B | ||
| Q2 24 | $1.3B | $3.1B |
营业利润率DALMS
| Q1 26 | 9.2% | — | ||
| Q4 25 | 9.2% | 32.2% | ||
| Q3 25 | 10.1% | 33.1% | ||
| Q2 25 | 12.6% | 27.5% | ||
| Q1 25 | 4.1% | 31.3% | ||
| Q4 24 | 11.0% | — | ||
| Q3 24 | 8.9% | 27.4% | ||
| Q2 24 | 13.6% | 27.1% |
净利率DALMS
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 24.6% | ||
| Q3 25 | 8.5% | 25.3% | ||
| Q2 25 | 12.8% | 21.1% | ||
| Q1 25 | 1.7% | 24.3% | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 8.1% | 20.7% | ||
| Q2 24 | 7.8% | 20.5% |
每股收益（稀释后）DALMS
| Q1 26 | $1.85 | — | ||
| Q4 25 | $1.85 | $2.68 | ||
| Q3 25 | $2.17 | $2.80 | ||
| Q2 25 | $3.27 | $2.13 | ||
| Q1 25 | $0.37 | $2.60 | ||
| Q4 24 | $1.29 | — | ||
| Q3 24 | $1.97 | $1.88 | ||
| Q2 24 | $2.01 | $1.82 |
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 | $4.3B | $111.7B |
| 总债务越低越好 | $12.5B | $341.7B |
| 股东权益账面价值 | $20.9B | $111.6B |
| 总资产 | $81.3B | $1420.3B |
| 负债/权益比越低杠杆越低 | 0.60× | 3.06× |
8季度趋势，按日历期对齐
现金及短期投资DALMS
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.3B | $111.7B | ||
| Q3 25 | $3.8B | $103.7B | ||
| Q2 25 | $3.3B | $109.1B | ||
| Q1 25 | $3.7B | $90.7B | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $4.0B | $91.1B | ||
| Q2 24 | $4.2B | $90.2B |
总债务DALMS
| Q1 26 | $12.5B | — | ||
| Q4 25 | $12.5B | $341.7B | ||
| Q3 25 | $12.8B | $324.1B | ||
| Q2 25 | $12.8B | $320.1B | ||
| Q1 25 | $12.9B | $297.0B | ||
| Q4 24 | $14.0B | — | ||
| Q3 24 | $14.4B | $291.2B | ||
| Q2 24 | $15.0B | $269.9B |
股东权益DALMS
| Q1 26 | $20.9B | — | ||
| Q4 25 | $20.9B | $111.6B | ||
| Q3 25 | $18.8B | $110.0B | ||
| Q2 25 | $17.4B | $108.2B | ||
| Q1 25 | $15.4B | $106.8B | ||
| Q4 24 | $15.3B | — | ||
| Q3 24 | $13.6B | $103.6B | ||
| Q2 24 | $12.4B | $100.7B |
总资产DALMS
| Q1 26 | $81.3B | — | ||
| Q4 25 | $81.3B | $1420.3B | ||
| Q3 25 | $79.6B | $1364.8B | ||
| Q2 25 | $78.4B | $1353.9B | ||
| Q1 25 | $77.3B | $1300.3B | ||
| Q4 24 | $75.4B | — | ||
| Q3 24 | $75.4B | $1258.0B | ||
| Q2 24 | $75.2B | $1212.4B |
负债/权益比DALMS
| Q1 26 | 0.60× | — | ||
| Q4 25 | 0.60× | 3.06× | ||
| Q3 25 | 0.68× | 2.95× | ||
| Q2 25 | 0.74× | 2.96× | ||
| Q1 25 | 0.83× | 2.78× | ||
| Q4 24 | 0.92× | — | ||
| Q3 24 | 1.05× | 2.81× | ||
| Q2 24 | 1.21× | 2.68× |
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 | — | $-2.4B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | -0.55× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DALMS
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $-2.4B | ||
| Q3 25 | $1.8B | $-3.3B | ||
| Q2 25 | $1.9B | $11.8B | ||
| Q1 25 | $2.4B | $-24.0B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $2.4B | — |
自由现金流DALMS
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $687.0M | — | ||
| Q2 25 | $648.0M | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $583.0M | — | ||
| Q3 24 | $-54.0M | — | ||
| Q2 24 | $1.1B | — |
自由现金流率DALMS
| Q1 26 | — | — | ||
| Q4 25 | 8.5% | — | ||
| Q3 25 | 4.1% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 8.2% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | -0.3% | — | ||
| Q2 24 | 6.8% | — |
资本支出强度DALMS
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | — | ||
| Q3 25 | 7.0% | — | ||
| Q2 25 | 7.3% | — | ||
| Q1 25 | 8.7% | — | ||
| Q4 24 | 8.4% | — | ||
| Q3 24 | 8.5% | — | ||
| Q2 24 | 7.9% | — |
现金转化率DALMS
| Q1 26 | — | — | ||
| Q4 25 | 1.86× | -0.55× | ||
| Q3 25 | 1.30× | -0.72× | ||
| Q2 25 | 0.87× | 3.34× | ||
| Q1 25 | 9.91× | -5.56× | ||
| Q4 24 | 2.25× | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.88× | — |
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
DAL
| Passenger Air Traffic | $10.8B | 67% |
| Product And Service Other Refinery | $1.7B | 10% |
| Product And Service Other Loyalty Program | $1.2B | 8% |
| Passenger Loyalty Travel Awards | $1.0B | 6% |
| Passenger Travel Related Services | $506.0M | 3% |
| Product And Service Other Ancillary Businesses | $380.0M | 2% |
| Cargo And Freight | $226.0M | 1% |
| Product And Service Other Miscellaneous | $71.0M | 0% |
MS
暂无分部数据
