vs
德纳（DAN）与佳明（GRMN）财务数据对比。点击上方公司名可切换其他公司
佳明的季度营收约是德纳的1.6倍（$2.1B vs $1.3B），佳明净利率更高（24.9% vs -3.9%，领先28.7%），佳明同比增速更快（16.6% vs -44.5%），佳明自由现金流更多（$429.6M vs $345.0M），过去两年佳明的营收复合增速更高（24.0% vs -31.2%）
德纳（Dana Inc.）是美国知名汽车零部件供应商，创立于1904年，总部位于俄亥俄州莫米。公司为传统燃油车、混合动力车及电动车提供车桥、传动轴，以及电驱动、热管理、密封、数字设备等产品，服务于轻型车、商用车市场，业务遍及33个国家，员工近2.8万人，2022年销售额达102亿美元，位列财富世界500强。
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
DAN vs GRMN — 直观对比
营收规模更大
GRMN
是对方的1.6倍
$1.3B
营收增速更快
GRMN
高出61.1%
-44.5%
净利率更高
GRMN
高出28.7%
-3.9%
自由现金流更多
GRMN
多$84.6M
$345.0M
两年增速更快
GRMN
近两年复合增速
-31.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.1B |
| 净利润 | $-50.0M | $528.7M |
| 毛利率 | 6.0% | 59.2% |
| 营业利润率 | -0.2% | 28.9% |
| 净利率 | -3.9% | 24.9% |
| 营收同比 | -44.5% | 16.6% |
| 净利润同比 | 37.5% | 21.3% |
| 每股收益（稀释后） | $-0.36 | $2.72 |
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DANGRMN
| Q4 25 | $1.3B | $2.1B | ||
| Q3 25 | $1.9B | $1.8B | ||
| Q2 25 | $1.9B | $1.8B | ||
| Q1 25 | $2.4B | $1.5B | ||
| Q4 24 | $2.3B | $1.8B | ||
| Q3 24 | $2.5B | $1.6B | ||
| Q2 24 | $2.7B | $1.5B | ||
| Q1 24 | $2.7B | $1.4B |
净利润DANGRMN
| Q4 25 | $-50.0M | $528.7M | ||
| Q3 25 | $83.0M | $401.6M | ||
| Q2 25 | $27.0M | $400.8M | ||
| Q1 25 | $25.0M | $332.8M | ||
| Q4 24 | $-80.0M | $435.7M | ||
| Q3 24 | $4.0M | $399.1M | ||
| Q2 24 | $16.0M | $300.6M | ||
| Q1 24 | $3.0M | $276.0M |
毛利率DANGRMN
| Q4 25 | 6.0% | 59.2% | ||
| Q3 25 | 8.7% | 59.1% | ||
| Q2 25 | 7.1% | 58.8% | ||
| Q1 25 | 9.4% | 57.6% | ||
| Q4 24 | 5.7% | 59.3% | ||
| Q3 24 | 9.9% | 60.0% | ||
| Q2 24 | 9.3% | 57.3% | ||
| Q1 24 | 8.9% | 58.1% |
营业利润率DANGRMN
| Q4 25 | -0.2% | 28.9% | ||
| Q3 25 | 2.8% | 25.8% | ||
| Q2 25 | 0.8% | 26.0% | ||
| Q1 25 | 3.1% | 21.7% | ||
| Q4 24 | -1.5% | 28.3% | ||
| Q3 24 | 3.6% | 27.6% | ||
| Q2 24 | 3.8% | 22.7% | ||
| Q1 24 | 2.6% | 21.6% |
净利率DANGRMN
| Q4 25 | -3.9% | 24.9% | ||
| Q3 25 | 4.3% | 22.7% | ||
| Q2 25 | 1.4% | 22.1% | ||
| Q1 25 | 1.1% | 21.7% | ||
| Q4 24 | -3.4% | 23.9% | ||
| Q3 24 | 0.2% | 25.2% | ||
| Q2 24 | 0.6% | 20.0% | ||
| Q1 24 | 0.1% | 20.0% |
每股收益（稀释后）DANGRMN
| Q4 25 | $-0.36 | $2.72 | ||
| Q3 25 | $0.64 | $2.08 | ||
| Q2 25 | $0.19 | $2.07 | ||
| Q1 25 | $0.17 | $1.72 | ||
| Q4 24 | $-0.55 | $2.24 | ||
| Q3 24 | $0.03 | $2.07 | ||
| Q2 24 | $0.11 | $1.56 | ||
| Q1 24 | $0.02 | $1.43 |
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 | $469.0M | $2.3B |
| 总债务越低越好 | $2.6B | — |
| 股东权益账面价值 | $840.0M | $9.0B |
| 总资产 | $7.8B | $11.0B |
| 负债/权益比越低杠杆越低 | 3.05× | — |
8季度趋势，按日历期对齐
现金及短期投资DANGRMN
| Q4 25 | $469.0M | $2.3B | ||
| Q3 25 | $414.0M | $2.1B | ||
| Q2 25 | $486.0M | $2.1B | ||
| Q1 25 | $507.0M | $2.2B | ||
| Q4 24 | $494.0M | $2.1B | ||
| Q3 24 | $419.0M | $2.0B | ||
| Q2 24 | $419.0M | $1.9B | ||
| Q1 24 | $351.0M | $1.9B |
总债务DANGRMN
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.6B | — |
股东权益DANGRMN
| Q4 25 | $840.0M | $9.0B | ||
| Q3 25 | $1.1B | $8.5B | ||
| Q2 25 | $1.2B | $8.1B | ||
| Q1 25 | $1.4B | $8.2B | ||
| Q4 24 | $1.3B | $7.8B | ||
| Q3 24 | $1.5B | $7.5B | ||
| Q2 24 | $1.5B | $7.0B | ||
| Q1 24 | $1.5B | $7.2B |
总资产DANGRMN
| Q4 25 | $7.8B | $11.0B | ||
| Q3 25 | $8.1B | $10.5B | ||
| Q2 25 | $8.1B | $10.3B | ||
| Q1 25 | $7.8B | $9.8B | ||
| Q4 24 | $7.5B | $9.6B | ||
| Q3 24 | $7.9B | $9.3B | ||
| Q2 24 | $7.8B | $8.9B | ||
| Q1 24 | $7.9B | $8.6B |
负债/权益比DANGRMN
| Q4 25 | 3.05× | — | ||
| Q3 25 | 2.35× | — | ||
| Q2 25 | 2.13× | — | ||
| Q1 25 | 1.76× | — | ||
| Q4 24 | 1.79× | — | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 1.68× | — |
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 | $406.0M | $553.8M |
| 自由现金流经营现金流 - 资本支出 | $345.0M | $429.6M |
| 自由现金流率自由现金流/营收 | 26.6% | 20.2% |
| 资本支出强度资本支出/营收 | 4.7% | 5.8% |
| 现金转化率经营现金流/净利润 | — | 1.05× |
| 过去12个月自由现金流最近4个季度 | $298.0M | $1.4B |
8季度趋势，按日历期对齐
经营现金流DANGRMN
| Q4 25 | $406.0M | $553.8M | ||
| Q3 25 | $111.0M | $485.6M | ||
| Q2 25 | $32.0M | $173.2M | ||
| Q1 25 | $-37.0M | $420.8M | ||
| Q4 24 | $302.0M | $483.9M | ||
| Q3 24 | $35.0M | $258.0M | ||
| Q2 24 | $215.0M | $255.3M | ||
| Q1 24 | $-102.0M | $435.3M |
自由现金流DANGRMN
| Q4 25 | $345.0M | $429.6M | ||
| Q3 25 | $62.0M | $425.1M | ||
| Q2 25 | $3.0M | $127.5M | ||
| Q1 25 | $-112.0M | $380.7M | ||
| Q4 24 | $149.0M | $399.2M | ||
| Q3 24 | $-11.0M | $219.4M | ||
| Q2 24 | $104.0M | $218.2M | ||
| Q1 24 | $-172.0M | $402.1M |
自由现金流率DANGRMN
| Q4 25 | 26.6% | 20.2% | ||
| Q3 25 | 3.2% | 24.0% | ||
| Q2 25 | 0.2% | 7.0% | ||
| Q1 25 | -4.8% | 24.8% | ||
| Q4 24 | 6.4% | 21.9% | ||
| Q3 24 | -0.4% | 13.8% | ||
| Q2 24 | 3.8% | 14.5% | ||
| Q1 24 | -6.3% | 29.1% |
资本支出强度DANGRMN
| Q4 25 | 4.7% | 5.8% | ||
| Q3 25 | 2.6% | 3.4% | ||
| Q2 25 | 1.5% | 2.5% | ||
| Q1 25 | 3.2% | 2.6% | ||
| Q4 24 | 6.6% | 4.6% | ||
| Q3 24 | 1.9% | 2.4% | ||
| Q2 24 | 4.1% | 2.5% | ||
| Q1 24 | 2.6% | 2.4% |
现金转化率DANGRMN
| Q4 25 | — | 1.05× | ||
| Q3 25 | 1.34× | 1.21× | ||
| Q2 25 | 1.19× | 0.43× | ||
| Q1 25 | -1.48× | 1.26× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | 8.75× | 0.65× | ||
| Q2 24 | 13.44× | 0.85× | ||
| Q1 24 | -34.00× | 1.58× |
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
DAN
| Light Vehicle Segment | $912.0M | 70% |
| Commercial Vehicle Segment | $218.0M | 17% |
| Other | $166.0M | 13% |
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
