vs
达美航空（DAL）与特斯拉（TSLA）财务数据对比。点击上方公司名可切换其他公司
特斯拉的季度营收约是达美航空的1.4倍（$22.4B vs $16.0B），特斯拉同比增速更快（16.0% vs 14.0%），过去两年达美航空的营收复合增速更高（-2.0% vs -6.3%）
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。
特斯拉是总部位于美国得克萨斯州奥斯汀的跨国汽车与清洁能源企业，主营业务包括纯电动汽车、家用到电网级固定式储能电池、太阳能板及太阳能屋顶瓦的设计、生产与销售，同时提供相关配套产品与服务，致力于推动全球能源向可持续方向转型。
DAL vs TSLA — 直观对比
营收规模更大
TSLA
是对方的1.4倍
$16.0B
营收增速更快
TSLA
高出2.0%
14.0%
两年增速更快
DAL
近两年复合增速
-6.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $16.0B | $22.4B |
| 净利润 | — | $477.0M |
| 毛利率 | — | 21.1% |
| 营业利润率 | 9.2% | 4.2% |
| 净利率 | — | 2.1% |
| 营收同比 | 14.0% | 16.0% |
| 净利润同比 | — | 17.0% |
| 每股收益（稀释后） | $1.85 | $0.13 |
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DALTSLA
| Q1 26 | $16.0B | $22.4B | ||
| Q4 25 | $16.0B | $24.9B | ||
| Q3 25 | $16.7B | $28.1B | ||
| Q2 25 | $16.6B | $22.5B | ||
| Q1 25 | $14.0B | $19.3B | ||
| Q4 24 | $15.6B | $25.7B | ||
| Q3 24 | $15.7B | $25.2B | ||
| Q2 24 | $16.7B | $25.5B |
净利润DALTSLA
| Q1 26 | — | $477.0M | ||
| Q4 25 | $1.2B | $840.0M | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $240.0M | $409.0M | ||
| Q4 24 | $843.0M | $2.3B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $1.3B | $1.5B |
毛利率DALTSLA
| Q1 26 | — | 21.1% | ||
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 18.0% | ||
| Q2 25 | — | 17.2% | ||
| Q1 25 | — | 16.3% | ||
| Q4 24 | — | 16.3% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | — | 18.0% |
营业利润率DALTSLA
| Q1 26 | 9.2% | 4.2% | ||
| Q4 25 | 9.2% | 5.7% | ||
| Q3 25 | 10.1% | 5.8% | ||
| Q2 25 | 12.6% | 4.1% | ||
| Q1 25 | 4.1% | 2.1% | ||
| Q4 24 | 11.0% | 6.2% | ||
| Q3 24 | 8.9% | 10.8% | ||
| Q2 24 | 13.6% | 6.3% |
净利率DALTSLA
| Q1 26 | — | 2.1% | ||
| Q4 25 | 7.6% | 3.4% | ||
| Q3 25 | 8.5% | 4.9% | ||
| Q2 25 | 12.8% | 5.2% | ||
| Q1 25 | 1.7% | 2.1% | ||
| Q4 24 | 5.4% | 9.0% | ||
| Q3 24 | 8.1% | 8.6% | ||
| Q2 24 | 7.8% | 5.8% |
每股收益（稀释后）DALTSLA
| Q1 26 | $1.85 | $0.13 | ||
| Q4 25 | $1.85 | $0.24 | ||
| Q3 25 | $2.17 | $0.39 | ||
| Q2 25 | $3.27 | $0.33 | ||
| Q1 25 | $0.37 | $0.12 | ||
| Q4 24 | $1.29 | $0.66 | ||
| Q3 24 | $1.97 | $0.62 | ||
| Q2 24 | $2.01 | $0.42 |
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 | $81.7B |
| 总债务越低越好 | $12.5B | $7.5B |
| 股东权益账面价值 | $20.9B | $74.7B |
| 总资产 | $81.3B | $125.1B |
| 负债/权益比越低杠杆越低 | 0.60× | 0.10× |
8季度趋势，按日历期对齐
现金及短期投资DALTSLA
| Q1 26 | $4.3B | $81.7B | ||
| Q4 25 | $4.3B | $44.1B | ||
| Q3 25 | $3.8B | $41.6B | ||
| Q2 25 | $3.3B | $36.8B | ||
| Q1 25 | $3.7B | $37.0B | ||
| Q4 24 | $3.1B | $36.6B | ||
| Q3 24 | $4.0B | $33.6B | ||
| Q2 24 | $4.2B | $30.7B |
总债务DALTSLA
| Q1 26 | $12.5B | $7.5B | ||
| Q4 25 | $12.5B | $6.6B | ||
| Q3 25 | $12.8B | $5.6B | ||
| Q2 25 | $12.8B | $5.0B | ||
| Q1 25 | $12.9B | $5.1B | ||
| Q4 24 | $14.0B | $5.5B | ||
| Q3 24 | $14.4B | $5.3B | ||
| Q2 24 | $15.0B | $5.3B |
股东权益DALTSLA
| Q1 26 | $20.9B | $74.7B | ||
| Q4 25 | $20.9B | $82.1B | ||
| Q3 25 | $18.8B | $80.0B | ||
| Q2 25 | $17.4B | $77.3B | ||
| Q1 25 | $15.4B | $74.7B | ||
| Q4 24 | $15.3B | $72.9B | ||
| Q3 24 | $13.6B | $69.9B | ||
| Q2 24 | $12.4B | $66.5B |
总资产DALTSLA
| Q1 26 | $81.3B | $125.1B | ||
| Q4 25 | $81.3B | $137.8B | ||
| Q3 25 | $79.6B | $133.7B | ||
| Q2 25 | $78.4B | $128.6B | ||
| Q1 25 | $77.3B | $125.1B | ||
| Q4 24 | $75.4B | $122.1B | ||
| Q3 24 | $75.4B | $119.9B | ||
| Q2 24 | $75.2B | $112.8B |
负债/权益比DALTSLA
| Q1 26 | 0.60× | 0.10× | ||
| Q4 25 | 0.60× | 0.08× | ||
| Q3 25 | 0.68× | 0.07× | ||
| Q2 25 | 0.74× | 0.06× | ||
| Q1 25 | 0.83× | 0.07× | ||
| Q4 24 | 0.92× | 0.08× | ||
| Q3 24 | 1.05× | 0.08× | ||
| Q2 24 | 1.21× | 0.08× |
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 | — | $3.9B |
| 自由现金流经营现金流 - 资本支出 | — | $1.4B |
| 自由现金流率自由现金流/营收 | — | 6.5% |
| 资本支出强度资本支出/营收 | — | 11.1% |
| 现金转化率经营现金流/净利润 | — | 8.25× |
| 过去12个月自由现金流最近4个季度 | — | $7.0B |
8季度趋势，按日历期对齐
经营现金流DALTSLA
| Q1 26 | — | $3.9B | ||
| Q4 25 | $2.3B | $3.8B | ||
| Q3 25 | $1.8B | $6.2B | ||
| Q2 25 | $1.9B | $2.5B | ||
| Q1 25 | $2.4B | $2.2B | ||
| Q4 24 | $1.9B | $4.8B | ||
| Q3 24 | $1.3B | $6.3B | ||
| Q2 24 | $2.4B | $3.6B |
自由现金流DALTSLA
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $687.0M | $4.0B | ||
| Q2 25 | $648.0M | $146.0M | ||
| Q1 25 | $1.2B | $664.0M | ||
| Q4 24 | $583.0M | $2.0B | ||
| Q3 24 | $-54.0M | $2.7B | ||
| Q2 24 | $1.1B | $1.3B |
自由现金流率DALTSLA
| Q1 26 | — | 6.5% | ||
| Q4 25 | 8.5% | 5.7% | ||
| Q3 25 | 4.1% | 14.2% | ||
| Q2 25 | 3.9% | 0.6% | ||
| Q1 25 | 8.2% | 3.4% | ||
| Q4 24 | 3.7% | 7.9% | ||
| Q3 24 | -0.3% | 10.9% | ||
| Q2 24 | 6.8% | 5.3% |
资本支出强度DALTSLA
| Q1 26 | — | 11.1% | ||
| Q4 25 | 5.7% | 9.6% | ||
| Q3 25 | 7.0% | 8.0% | ||
| Q2 25 | 7.3% | 10.6% | ||
| Q1 25 | 8.7% | 7.7% | ||
| Q4 24 | 8.4% | 10.8% | ||
| Q3 24 | 8.5% | 14.0% | ||
| Q2 24 | 7.9% | 8.9% |
现金转化率DALTSLA
| Q1 26 | — | 8.25× | ||
| Q4 25 | 1.86× | 4.54× | ||
| Q3 25 | 1.30× | 4.54× | ||
| Q2 25 | 0.87× | 2.17× | ||
| Q1 25 | 9.91× | 5.27× | ||
| Q4 24 | 2.25× | 2.08× | ||
| Q3 24 | 1.00× | 2.89× | ||
| Q2 24 | 1.88× | 2.44× |
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% |
TSLA
| Automotive Sales | $15.5B | 69% |
| Services & Other | $3.7B | 17% |
| Energy Generation And Storage | $2.4B | 11% |
| Automotive Leasing | $381.0M | 2% |
| Automotive Regulatory Credits | $380.0M | 2% |
