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雅诗兰黛（EL）与蔚来（NIO）财务数据对比。点击上方公司名可切换其他公司
蔚来的季度营收约是雅诗兰黛的1.1倍（$4.7B vs $4.2B），雅诗兰黛净利率更高（3.8% vs 0.8%，领先3.0%），雅诗兰黛自由现金流更多（$1.0B vs $-439.4M）
雅诗兰黛是全球知名的高端美妆集团，由创始人雅诗·兰黛女士与丈夫约瑟夫·劳特共同创立。雅诗·兰黛女士也是唯一一位登上《时代》杂志1998年“20世纪20位最具影响力商业天才”榜单的女性，集团旗下拥有多个知名美妆、护肤、香氛品牌，业务覆盖全球众多国家和地区。
蔚来是中国本土新能源汽车制造商，总部位于上海，2014年成立，2016年正式启用现有品牌名称。公司专注于智能电动汽车的研发、设计与销售，产品覆盖轿车、SUV等多个品类，近年已将业务拓展至智能手机研发领域。
EL vs NIO — 直观对比
营收规模更大
NIO
是对方的1.1倍
$4.2B
净利率更高
EL
高出3.0%
0.8%
自由现金流更多
EL
多$1.5B
$-439.4M
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $4.7B |
| 净利润 | $162.0M | $38.7M |
| 毛利率 | 76.5% | 17.5% |
| 营业利润率 | 9.5% | 1.5% |
| 净利率 | 3.8% | 0.8% |
| 营收同比 | 5.6% | — |
| 净利润同比 | 127.5% | — |
| 每股收益（稀释后） | $0.44 | $0.05 |
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ELNIO
| Q1 26 | — | $4.7B | ||
| Q4 25 | $4.2B | — | ||
| Q3 25 | $3.5B | $3.0B | ||
| Q2 25 | $3.4B | $2.6B | ||
| Q1 25 | $3.5B | $2.7B | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.9B | — |
净利润ELNIO
| Q1 26 | — | $38.7M | ||
| Q4 25 | $162.0M | — | ||
| Q3 25 | $47.0M | $-505.2M | ||
| Q2 25 | $-546.0M | $-709.5M | ||
| Q1 25 | $159.0M | $-984.2M | ||
| Q4 24 | $-590.0M | — | ||
| Q3 24 | $-156.0M | — | ||
| Q2 24 | $-286.0M | — |
毛利率ELNIO
| Q1 26 | — | 17.5% | ||
| Q4 25 | 76.5% | — | ||
| Q3 25 | 73.4% | 13.9% | ||
| Q2 25 | 72.0% | 10.0% | ||
| Q1 25 | 75.0% | 11.7% | ||
| Q4 24 | 76.1% | — | ||
| Q3 24 | 72.4% | — | ||
| Q2 24 | 71.8% | — |
营业利润率ELNIO
| Q1 26 | — | 1.5% | ||
| Q4 25 | 9.5% | — | ||
| Q3 25 | 4.9% | -16.2% | ||
| Q2 25 | -11.4% | -25.8% | ||
| Q1 25 | 8.6% | -30.6% | ||
| Q4 24 | -14.5% | — | ||
| Q3 24 | -3.6% | — | ||
| Q2 24 | -6.0% | — |
净利率ELNIO
| Q1 26 | — | 0.8% | ||
| Q4 25 | 3.8% | — | ||
| Q3 25 | 1.4% | -16.8% | ||
| Q2 25 | -16.0% | -27.0% | ||
| Q1 25 | 4.5% | -36.2% | ||
| Q4 24 | -14.7% | — | ||
| Q3 24 | -4.6% | — | ||
| Q2 24 | -7.4% | — |
每股收益（稀释后）ELNIO
| Q1 26 | — | $0.05 | ||
| Q4 25 | $0.44 | — | ||
| Q3 25 | $0.13 | $-1.51 | ||
| Q2 25 | $-1.52 | $-2.31 | ||
| Q1 25 | $0.44 | $-3.47 | ||
| Q4 24 | $-1.64 | — | ||
| Q3 24 | $-0.43 | — | ||
| Q2 24 | $-0.79 | — |
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 | — | $4.4B |
| 总债务越低越好 | $7.3B | — |
| 股东权益账面价值 | $4.0B | $594.8M |
| 总资产 | $19.6B | $17.8B |
| 负债/权益比越低杠杆越低 | 1.82× | — |
8季度趋势，按日历期对齐
现金及短期投资ELNIO
| Q1 26 | — | $4.4B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总债务ELNIO
| Q1 26 | — | — | ||
| Q4 25 | $7.3B | — | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $7.3B | — | ||
| Q1 25 | $7.3B | — | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $7.3B | — |
股东权益ELNIO
| Q1 26 | — | $594.8M | ||
| Q4 25 | $4.0B | — | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | $-168.3M | ||
| Q1 25 | $4.3B | $817.5M | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.3B | — |
总资产ELNIO
| Q1 26 | — | $17.8B | ||
| Q4 25 | $19.6B | — | ||
| Q3 25 | $19.3B | — | ||
| Q2 25 | $19.9B | $14.0B | ||
| Q1 25 | $19.9B | $14.7B | ||
| Q4 24 | $19.8B | — | ||
| Q3 24 | $21.3B | — | ||
| Q2 24 | $21.7B | — |
负债/权益比ELNIO
| Q1 26 | — | — | ||
| Q4 25 | 1.82× | — | ||
| Q3 25 | 1.88× | — | ||
| Q2 25 | 1.89× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.75× | — | ||
| Q3 24 | 1.44× | — | ||
| Q2 24 | 1.37× | — |
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 | $1.1B | $427.9M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $-439.4M |
| 自由现金流率自由现金流/营收 | 24.0% | -9.3% |
| 资本支出强度资本支出/营收 | 2.6% | 18.4% |
| 现金转化率经营现金流/净利润 | 6.94× | 11.07× |
| 过去12个月自由现金流最近4个季度 | $1.1B | — |
8季度趋势，按日历期对齐
经营现金流ELNIO
| Q1 26 | — | $427.9M | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $-340.0M | — | ||
| Q2 25 | $601.0M | — | ||
| Q1 25 | $284.0M | $-1.1B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $-670.0M | — | ||
| Q2 24 | $889.0M | — |
自由现金流ELNIO
| Q1 26 | — | $-439.4M | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $-436.0M | — | ||
| Q2 25 | $394.0M | — | ||
| Q1 25 | $162.0M | $-2.3B | ||
| Q4 24 | $925.0M | — | ||
| Q3 24 | $-811.0M | — | ||
| Q2 24 | $672.0M | — |
自由现金流率ELNIO
| Q1 26 | — | -9.3% | ||
| Q4 25 | 24.0% | — | ||
| Q3 25 | -12.5% | — | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 4.6% | -85.6% | ||
| Q4 24 | 23.1% | — | ||
| Q3 24 | -24.1% | — | ||
| Q2 24 | 17.4% | — |
资本支出强度ELNIO
| Q1 26 | — | 18.4% | ||
| Q4 25 | 2.6% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | 3.4% | 46.1% | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | 5.6% | — |
现金转化率ELNIO
| Q1 26 | — | 11.07× | ||
| Q4 25 | 6.94× | — | ||
| Q3 25 | -7.23× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.79× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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
EL
| Skin Care | $2.1B | 49% |
| Makeup | $1.2B | 28% |
| Fragrance | $812.0M | 19% |
| Hair Care | $168.0M | 4% |
| Other | $31.0M | 1% |
NIO
暂无分部数据
