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陶氏公司（DOW）与潘世奇汽车集团（PAG）财务数据对比。点击上方公司名可切换其他公司
陶氏公司的季度营收约是潘世奇汽车集团的1.1倍（$9.5B vs $8.8B），潘世奇汽车集团同比增速更快（14.6% vs -9.3%），过去两年潘世奇汽车集团的营收复合增速更高（9.0% vs -6.9%）
陶氏化学是总部位于美国密歇根州米德兰的跨国化工企业，2021年位列全球前三大化工生产商，为特拉华州注册的上市控股公司陶氏公司旗下运营子公司，其产品与解决方案广泛服务于制造业、消费品、基础设施建设等全球多个核心产业领域。
潘世奇汽车集团（PAG）是总部位于美国密歇根州布卢姆菲尔德希尔斯的交通服务企业，主营汽车与商用卡车经销业务，覆盖美国、加拿大及西欧市场，同时在澳大利亚、新西兰分销商用车、发动机、动力系统及相关配件服务，还持有潘世奇运输解决方案公司28.9%的股份，后者管理超40万辆卡车的车队。
DOW vs PAG — 直观对比
营收规模更大
DOW
是对方的1.1倍
$8.8B
营收增速更快
PAG
高出23.9%
-9.3%
两年增速更快
PAG
近两年复合增速
-6.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.5B | $8.8B |
| 净利润 | — | $228.1M |
| 毛利率 | 5.8% | 15.9% |
| 营业利润率 | — | 3.6% |
| 净利率 | — | 2.6% |
| 营收同比 | -9.3% | 14.6% |
| 净利润同比 | — | -3.5% |
| 每股收益（稀释后） | $-2.16 | $3.46 |
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DOWPAG
| Q1 26 | $9.5B | — | ||
| Q4 25 | $9.5B | $8.8B | ||
| Q3 25 | $10.0B | $7.7B | ||
| Q2 25 | $10.1B | $7.7B | ||
| Q1 25 | $10.4B | $7.6B | ||
| Q4 24 | $10.4B | $7.7B | ||
| Q3 24 | $10.9B | $7.6B | ||
| Q2 24 | $10.9B | $7.7B |
净利润DOWPAG
| Q1 26 | — | — | ||
| Q4 25 | $-1.5B | $228.1M | ||
| Q3 25 | $62.0M | $213.0M | ||
| Q2 25 | $-835.0M | $250.0M | ||
| Q1 25 | $-307.0M | $244.3M | ||
| Q4 24 | $-35.0M | $236.4M | ||
| Q3 24 | $214.0M | $226.1M | ||
| Q2 24 | $439.0M | $241.2M |
毛利率DOWPAG
| Q1 26 | 5.8% | — | ||
| Q4 25 | 5.8% | 15.9% | ||
| Q3 25 | 7.3% | 16.2% | ||
| Q2 25 | 5.8% | 16.9% | ||
| Q1 25 | 6.4% | 16.7% | ||
| Q4 24 | 9.0% | 16.3% | ||
| Q3 24 | 9.8% | 16.4% | ||
| Q2 24 | 12.1% | 16.4% |
营业利润率DOWPAG
| Q1 26 | — | — | ||
| Q4 25 | -16.4% | 3.6% | ||
| Q3 25 | 0.7% | 3.9% | ||
| Q2 25 | -6.5% | 4.5% | ||
| Q1 25 | -3.6% | 4.1% | ||
| Q4 24 | 2.1% | 4.3% | ||
| Q3 24 | 3.0% | 4.2% | ||
| Q2 24 | 5.6% | 4.4% |
净利率DOWPAG
| Q1 26 | — | — | ||
| Q4 25 | -15.6% | 2.6% | ||
| Q3 25 | 0.6% | 2.8% | ||
| Q2 25 | -8.3% | 3.3% | ||
| Q1 25 | -2.9% | 3.2% | ||
| Q4 24 | -0.3% | 3.1% | ||
| Q3 24 | 2.0% | 3.0% | ||
| Q2 24 | 4.0% | 3.1% |
每股收益（稀释后）DOWPAG
| Q1 26 | $-2.16 | — | ||
| Q4 25 | $-2.16 | $3.46 | ||
| Q3 25 | $0.08 | $3.23 | ||
| Q2 25 | $-1.18 | $3.78 | ||
| Q1 25 | $-0.44 | $3.66 | ||
| Q4 24 | $-0.08 | $3.53 | ||
| Q3 24 | $0.30 | $3.39 | ||
| Q2 24 | $0.62 | $3.61 |
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 | $3.8B | $64.7M |
| 总债务越低越好 | $17.8B | $2.2B |
| 股东权益账面价值 | $16.0B | $5.6B |
| 总资产 | $58.5B | $17.6B |
| 负债/权益比越低杠杆越低 | 1.12× | 0.39× |
8季度趋势，按日历期对齐
现金及短期投资DOWPAG
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.8B | $64.7M | ||
| Q3 25 | $4.6B | $80.3M | ||
| Q2 25 | $2.4B | $155.3M | ||
| Q1 25 | $1.5B | $118.4M | ||
| Q4 24 | $2.2B | $72.4M | ||
| Q3 24 | $2.9B | $91.9M | ||
| Q2 24 | $3.3B | $115.1M |
总债务DOWPAG
| Q1 26 | $17.8B | — | ||
| Q4 25 | $17.8B | $2.2B | ||
| Q3 25 | $17.7B | $1.6B | ||
| Q2 25 | $16.2B | $1.8B | ||
| Q1 25 | $15.9B | $1.8B | ||
| Q4 24 | $15.7B | $1.9B | ||
| Q3 24 | $16.2B | $1.9B | ||
| Q2 24 | $16.0B | $1.8B |
股东权益DOWPAG
| Q1 26 | $16.0B | — | ||
| Q4 25 | $16.0B | $5.6B | ||
| Q3 25 | $17.5B | $5.7B | ||
| Q2 25 | $17.2B | $5.6B | ||
| Q1 25 | $16.8B | $5.4B | ||
| Q4 24 | $17.4B | $5.2B | ||
| Q3 24 | $18.3B | $5.2B | ||
| Q2 24 | $18.3B | $5.0B |
总资产DOWPAG
| Q1 26 | $58.5B | — | ||
| Q4 25 | $58.5B | $17.6B | ||
| Q3 25 | $61.0B | $17.1B | ||
| Q2 25 | $59.0B | $17.4B | ||
| Q1 25 | $57.5B | $16.9B | ||
| Q4 24 | $57.3B | $16.7B | ||
| Q3 24 | $59.4B | $17.1B | ||
| Q2 24 | $58.5B | $16.6B |
负债/权益比DOWPAG
| Q1 26 | 1.12× | — | ||
| Q4 25 | 1.12× | 0.39× | ||
| Q3 25 | 1.01× | 0.28× | ||
| Q2 25 | 0.94× | 0.32× | ||
| Q1 25 | 0.95× | 0.33× | ||
| Q4 24 | 0.91× | 0.36× | ||
| Q3 24 | 0.88× | 0.36× | ||
| Q2 24 | 0.87× | 0.36× |
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 | — | $123.2M |
| 自由现金流经营现金流 - 资本支出 | — | $25.1M |
| 自由现金流率自由现金流/营收 | — | 0.3% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | — | 0.54× |
| 过去12个月自由现金流最近4个季度 | — | $650.5M |
8季度趋势，按日历期对齐
经营现金流DOWPAG
| Q1 26 | — | — | ||
| Q4 25 | $284.0M | $123.2M | ||
| Q3 25 | $1.1B | $379.5M | ||
| Q2 25 | $-470.0M | $189.7M | ||
| Q1 25 | $91.0M | $282.7M | ||
| Q4 24 | $814.0M | $217.7M | ||
| Q3 24 | $800.0M | $271.0M | ||
| Q2 24 | $836.0M | $235.1M |
自由现金流DOWPAG
| Q1 26 | — | — | ||
| Q4 25 | $-284.0M | $25.1M | ||
| Q3 25 | $563.0M | $300.4M | ||
| Q2 25 | $-1.1B | $118.9M | ||
| Q1 25 | $-594.0M | $206.1M | ||
| Q4 24 | $47.0M | $131.6M | ||
| Q3 24 | $64.0M | $190.1M | ||
| Q2 24 | $113.0M | $135.9M |
自由现金流率DOWPAG
| Q1 26 | — | — | ||
| Q4 25 | -3.0% | 0.3% | ||
| Q3 25 | 5.6% | 3.9% | ||
| Q2 25 | -11.2% | 1.6% | ||
| Q1 25 | -5.7% | 2.7% | ||
| Q4 24 | 0.5% | 1.7% | ||
| Q3 24 | 0.6% | 2.5% | ||
| Q2 24 | 1.0% | 1.8% |
资本支出强度DOWPAG
| Q1 26 | — | — | ||
| Q4 25 | 6.0% | 1.1% | ||
| Q3 25 | 5.7% | 1.0% | ||
| Q2 25 | 6.6% | 0.9% | ||
| Q1 25 | 6.6% | 1.0% | ||
| Q4 24 | 7.4% | 1.1% | ||
| Q3 24 | 6.8% | 1.1% | ||
| Q2 24 | 6.6% | 1.3% |
现金转化率DOWPAG
| Q1 26 | — | — | ||
| Q4 25 | — | 0.54× | ||
| Q3 25 | 18.18× | 1.78× | ||
| Q2 25 | — | 0.76× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 0.92× | ||
| Q3 24 | 3.74× | 1.20× | ||
| Q2 24 | 1.90× | 0.97× |
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
DOW
暂无分部数据
PAG
| New Vehicle | $3.9B | 44% |
| Used Vehicle | $2.3B | 26% |
| Service And Parts | $953.6M | 11% |
| Retail Commercial Truck Dealership Segment | $725.4M | 8% |
| Other | $414.5M | 5% |
| Commercial Vehicle Distribution And Other | $303.3M | 3% |
| Finance And Insurance Net | $221.9M | 3% |
