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达美航空（DAL）与富国银行（WFC）财务数据对比。点击上方公司名可切换其他公司
富国银行的季度营收约是达美航空的1.3倍（$21.3B vs $16.0B），达美航空同比增速更快（14.0% vs 4.5%），过去两年富国银行的营收复合增速更高（1.0% vs -2.0%）
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。
富国银行是美国头部跨国金融服务机构，位列美国四大银行之一，业务覆盖全球35个国家，为超7000万全球客户提供服务，被金融稳定委员会认定为系统重要性金融机构，具备较高的行业影响力。
DAL vs WFC — 直观对比
营收规模更大
WFC
是对方的1.3倍
$16.0B
营收增速更快
DAL
高出9.5%
4.5%
两年增速更快
WFC
近两年复合增速
-2.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $16.0B | $21.3B |
| 净利润 | — | $5.4B |
| 毛利率 | — | — |
| 营业利润率 | 9.2% | 30.7% |
| 净利率 | — | 25.2% |
| 营收同比 | 14.0% | 4.5% |
| 净利润同比 | — | 5.6% |
| 每股收益（稀释后） | $1.85 | $1.61 |
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DALWFC
| Q1 26 | $16.0B | — | ||
| Q4 25 | $16.0B | $21.3B | ||
| Q3 25 | $16.7B | $21.4B | ||
| Q2 25 | $16.6B | $20.8B | ||
| Q1 25 | $14.0B | $20.1B | ||
| Q4 24 | $15.6B | $20.4B | ||
| Q3 24 | $15.7B | $20.4B | ||
| Q2 24 | $16.7B | $20.7B |
净利润DALWFC
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $5.4B | ||
| Q3 25 | $1.4B | $5.6B | ||
| Q2 25 | $2.1B | $5.5B | ||
| Q1 25 | $240.0M | $4.9B | ||
| Q4 24 | $843.0M | $5.1B | ||
| Q3 24 | $1.3B | $5.1B | ||
| Q2 24 | $1.3B | $4.9B |
营业利润率DALWFC
| Q1 26 | 9.2% | — | ||
| Q4 25 | 9.2% | 30.7% | ||
| Q3 25 | 10.1% | 32.2% | ||
| Q2 25 | 12.6% | 30.9% | ||
| Q1 25 | 4.1% | 26.4% | ||
| Q4 24 | 11.0% | 26.4% | ||
| Q3 24 | 8.9% | 30.6% | ||
| Q2 24 | 13.6% | 29.8% |
净利率DALWFC
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 25.2% | ||
| Q3 25 | 8.5% | 26.1% | ||
| Q2 25 | 12.8% | 26.4% | ||
| Q1 25 | 1.7% | 24.3% | ||
| Q4 24 | 5.4% | 24.9% | ||
| Q3 24 | 8.1% | 25.1% | ||
| Q2 24 | 7.8% | 23.7% |
每股收益（稀释后）DALWFC
| Q1 26 | $1.85 | — | ||
| Q4 25 | $1.85 | $1.61 | ||
| Q3 25 | $2.17 | $1.66 | ||
| Q2 25 | $3.27 | $1.60 | ||
| Q1 25 | $0.37 | $1.39 | ||
| Q4 24 | $1.29 | $1.42 | ||
| Q3 24 | $1.97 | $1.42 | ||
| Q2 24 | $2.01 | $1.33 |
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 | — |
| 总债务越低越好 | $12.5B | $174.7B |
| 股东权益账面价值 | $20.9B | $181.1B |
| 总资产 | $81.3B | $2148.6B |
| 负债/权益比越低杠杆越低 | 0.60× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资DALWFC
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.3B | — | ||
| Q3 25 | $3.8B | — | ||
| Q2 25 | $3.3B | — | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.2B | — |
总债务DALWFC
| Q1 26 | $12.5B | — | ||
| Q4 25 | $12.5B | $174.7B | ||
| Q3 25 | $12.8B | $177.8B | ||
| Q2 25 | $12.8B | $176.2B | ||
| Q1 25 | $12.9B | $173.7B | ||
| Q4 24 | $14.0B | $173.1B | ||
| Q3 24 | $14.4B | $182.0B | ||
| Q2 24 | $15.0B | $179.1B |
股东权益DALWFC
| Q1 26 | $20.9B | — | ||
| Q4 25 | $20.9B | $181.1B | ||
| Q3 25 | $18.8B | $181.2B | ||
| Q2 25 | $17.4B | $181.1B | ||
| Q1 25 | $15.4B | $181.1B | ||
| Q4 24 | $15.3B | $179.1B | ||
| Q3 24 | $13.6B | $183.3B | ||
| Q2 24 | $12.4B | $176.4B |
总资产DALWFC
| Q1 26 | $81.3B | — | ||
| Q4 25 | $81.3B | $2148.6B | ||
| Q3 25 | $79.6B | $2062.9B | ||
| Q2 25 | $78.4B | $1981.3B | ||
| Q1 25 | $77.3B | $1950.3B | ||
| Q4 24 | $75.4B | $1929.8B | ||
| Q3 24 | $75.4B | $1922.1B | ||
| Q2 24 | $75.2B | $1940.1B |
负债/权益比DALWFC
| Q1 26 | 0.60× | — | ||
| Q4 25 | 0.60× | 0.96× | ||
| Q3 25 | 0.68× | 0.98× | ||
| Q2 25 | 0.74× | 0.97× | ||
| Q1 25 | 0.83× | 0.96× | ||
| Q4 24 | 0.92× | 0.97× | ||
| Q3 24 | 1.05× | 0.99× | ||
| Q2 24 | 1.21× | 1.02× |
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 | — | $4.1B |
| 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 | — | 0.77× |
| 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DALWFC
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $4.1B | ||
| Q3 25 | $1.8B | $-869.0M | ||
| Q2 25 | $1.9B | $-11.2B | ||
| Q1 25 | $2.4B | $-11.0B | ||
| Q4 24 | $1.9B | $8.9B | ||
| Q3 24 | $1.3B | $4.2B | ||
| Q2 24 | $2.4B | $2.0B |
自由现金流DALWFC
| 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DALWFC
| 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DALWFC
| 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DALWFC
| Q1 26 | — | — | ||
| Q4 25 | 1.86× | 0.77× | ||
| Q3 25 | 1.30× | -0.16× | ||
| Q2 25 | 0.87× | -2.04× | ||
| Q1 25 | 9.91× | -2.26× | ||
| Q4 24 | 2.25× | 1.75× | ||
| Q3 24 | 1.00× | 0.82× | ||
| Q2 24 | 1.88× | 0.42× |
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% |
WFC
| Other | $5.2B | 24% |
| Wealth And Investment Management | $3.4B | 16% |
| Investment Advisory Management And Administrative Service | $2.8B | 13% |
| Corporate And Investment Banking | $2.5B | 12% |
| Consumer Banking And Lending | $2.0B | 10% |
| Commercial Portfolio Segment | $1.1B | 5% |
| Commercial Banking | $1.1B | 5% |
| Credit Card Rewards And Rebates | $859.0M | 4% |
| Investment Advice | $716.0M | 3% |
| Deposit Account | $692.0M | 3% |
| Commissions And Brokerage Service Fees | $657.0M | 3% |
| Trailing Commission | $250.0M | 1% |
