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康宁（GLW）与Steel Dynamics（STLD）财务数据对比。点击上方公司名可切换其他公司
Steel Dynamics的季度营收约是康宁的1.2倍（$5.2B vs $4.2B），康宁净利率更高（12.8% vs 7.7%，领先5.1%），康宁同比增速更快（20.4% vs 17.9%），过去两年康宁的营收复合增速更高（19.0% vs 6.0%）
康宁是1851年成立的美国跨国科技企业，主营玻璃、陶瓷及相关材料技术，产品线涵盖先进光学产品，主要应用于工业与科研领域。20世纪曾推出多款知名消费产品，包括康宁锅、Corelle餐具、Pyrex烘焙玻璃器皿等，广受市场欢迎。
Steel Dynamics是总部位于美国印第安纳州韦恩堡的钢铁生产企业，钢铁产能达1300万吨，为美国第三大碳钢产品生产商，按利润率及每吨运营利润率计算属于美国盈利能力最强的钢企之一，凭借2021年营收位列2022年财富美国500强第196位。
GLW vs STLD — 直观对比
营收规模更大
STLD
是对方的1.2倍
$4.2B
营收增速更快
GLW
高出2.5%
17.9%
净利率更高
GLW
高出5.1%
7.7%
两年增速更快
GLW
近两年复合增速
6.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $5.2B |
| 净利润 | $540.0M | $400.1M |
| 毛利率 | 35.5% | 14.7% |
| 营业利润率 | 15.9% | 10.3% |
| 净利率 | 12.8% | 7.7% |
| 营收同比 | 20.4% | 17.9% |
| 净利润同比 | 74.2% | 51.3% |
| 每股收益（稀释后） | $0.61 | $2.78 |
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GLWSTLD
| Q1 26 | — | $5.2B | ||
| Q4 25 | $4.2B | $4.4B | ||
| Q3 25 | $4.1B | $4.8B | ||
| Q2 25 | $3.9B | $4.6B | ||
| Q1 25 | $3.5B | $4.4B | ||
| Q4 24 | $3.5B | $3.9B | ||
| Q3 24 | $3.4B | $4.3B | ||
| Q2 24 | $3.3B | $4.6B |
净利润GLWSTLD
| Q1 26 | — | $400.1M | ||
| Q4 25 | $540.0M | $266.0M | ||
| Q3 25 | $430.0M | $403.7M | ||
| Q2 25 | $469.0M | $298.7M | ||
| Q1 25 | $157.0M | $217.2M | ||
| Q4 24 | $310.0M | $207.3M | ||
| Q3 24 | $-117.0M | $317.8M | ||
| Q2 24 | $104.0M | $428.0M |
毛利率GLWSTLD
| Q1 26 | — | 14.7% | ||
| Q4 25 | 35.5% | 12.0% | ||
| Q3 25 | 37.1% | 15.7% | ||
| Q2 25 | 36.0% | 13.5% | ||
| Q1 25 | 35.2% | 11.1% | ||
| Q4 24 | 34.2% | 11.4% | ||
| Q3 24 | 33.5% | 13.9% | ||
| Q2 24 | 29.2% | 16.7% |
营业利润率GLWSTLD
| Q1 26 | — | 10.3% | ||
| Q4 25 | 15.9% | 7.0% | ||
| Q3 25 | 14.4% | 10.5% | ||
| Q2 25 | 14.8% | 8.4% | ||
| Q1 25 | 12.9% | 6.3% | ||
| Q4 24 | 11.2% | 6.1% | ||
| Q3 24 | 8.9% | 9.1% | ||
| Q2 24 | 5.7% | 12.1% |
净利率GLWSTLD
| Q1 26 | — | 7.7% | ||
| Q4 25 | 12.8% | 6.0% | ||
| Q3 25 | 10.5% | 8.4% | ||
| Q2 25 | 12.1% | 6.5% | ||
| Q1 25 | 4.5% | 5.0% | ||
| Q4 24 | 8.9% | 5.4% | ||
| Q3 24 | -3.5% | 7.3% | ||
| Q2 24 | 3.2% | 9.2% |
每股收益（稀释后）GLWSTLD
| Q1 26 | — | $2.78 | ||
| Q4 25 | $0.61 | $1.80 | ||
| Q3 25 | $0.50 | $2.74 | ||
| Q2 25 | $0.54 | $2.01 | ||
| Q1 25 | $0.18 | $1.44 | ||
| Q4 24 | $0.36 | $1.40 | ||
| Q3 24 | $-0.14 | $2.05 | ||
| Q2 24 | $0.12 | $2.72 |
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 | $1.5B | $556.5M |
| 总债务越低越好 | $7.6B | $4.2B |
| 股东权益账面价值 | $11.8B | $9.0B |
| 总资产 | $31.0B | $16.7B |
| 负债/权益比越低杠杆越低 | 0.65× | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资GLWSTLD
| Q1 26 | — | $556.5M | ||
| Q4 25 | $1.5B | $769.9M | ||
| Q3 25 | — | $770.4M | ||
| Q2 25 | — | $497.6M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $1.8B | $737.3M | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.2B |
总债务GLWSTLD
| Q1 26 | — | $4.2B | ||
| Q4 25 | $7.6B | $4.2B | ||
| Q3 25 | $7.4B | $3.8B | ||
| Q2 25 | $6.7B | $3.8B | ||
| Q1 25 | $7.0B | $4.2B | ||
| Q4 24 | $6.9B | $3.2B | ||
| Q3 24 | $7.1B | $3.7B | ||
| Q2 24 | $6.9B | $3.1B |
股东权益GLWSTLD
| Q1 26 | — | $9.0B | ||
| Q4 25 | $11.8B | $9.0B | ||
| Q3 25 | $11.5B | $9.0B | ||
| Q2 25 | $11.1B | $8.9B | ||
| Q1 25 | $10.7B | $8.8B | ||
| Q4 24 | $10.7B | $8.9B | ||
| Q3 24 | $11.1B | $9.1B | ||
| Q2 24 | $10.6B | $9.1B |
总资产GLWSTLD
| Q1 26 | — | $16.7B | ||
| Q4 25 | $31.0B | $16.4B | ||
| Q3 25 | $29.9B | $16.0B | ||
| Q2 25 | $28.7B | $15.5B | ||
| Q1 25 | $27.4B | $15.9B | ||
| Q4 24 | $27.7B | $14.9B | ||
| Q3 24 | $28.3B | $15.7B | ||
| Q2 24 | $27.2B | $15.1B |
负债/权益比GLWSTLD
| Q1 26 | — | 0.47× | ||
| Q4 25 | 0.65× | 0.47× | ||
| Q3 25 | 0.64× | 0.42× | ||
| Q2 25 | 0.60× | 0.43× | ||
| Q1 25 | 0.65× | 0.48× | ||
| Q4 24 | 0.64× | 0.36× | ||
| Q3 24 | 0.64× | 0.41× | ||
| Q2 24 | 0.65× | 0.34× |
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 | $148.3M |
| 自由现金流经营现金流 - 资本支出 | $620.0M | — |
| 自由现金流率自由现金流/营收 | 14.7% | — |
| 资本支出强度资本支出/营收 | 10.2% | — |
| 现金转化率经营现金流/净利润 | 1.95× | 0.37× |
| 过去12个月自由现金流最近4个季度 | $1.4B | — |
8季度趋势，按日历期对齐
经营现金流GLWSTLD
| Q1 26 | — | $148.3M | ||
| Q4 25 | $1.1B | $272.7M | ||
| Q3 25 | $784.0M | $722.6M | ||
| Q2 25 | $708.0M | $301.6M | ||
| Q1 25 | $151.0M | $152.6M | ||
| Q4 24 | $623.0M | $346.9M | ||
| Q3 24 | $699.0M | $759.9M | ||
| Q2 24 | $521.0M | $382.6M |
自由现金流GLWSTLD
| Q1 26 | — | — | ||
| Q4 25 | $620.0M | $84.2M | ||
| Q3 25 | $450.0M | $556.9M | ||
| Q2 25 | $400.0M | $13.3M | ||
| Q1 25 | $-57.0M | $-152.9M | ||
| Q4 24 | $369.0M | $-106.3M | ||
| Q3 24 | $482.0M | $138.5M | ||
| Q2 24 | $279.0M | $-36.6M |
自由现金流率GLWSTLD
| Q1 26 | — | — | ||
| Q4 25 | 14.7% | 1.9% | ||
| Q3 25 | 11.0% | 11.5% | ||
| Q2 25 | 10.4% | 0.3% | ||
| Q1 25 | -1.7% | -3.5% | ||
| Q4 24 | 10.5% | -2.7% | ||
| Q3 24 | 14.2% | 3.2% | ||
| Q2 24 | 8.6% | -0.8% |
资本支出强度GLWSTLD
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | 4.3% | ||
| Q3 25 | 8.1% | 3.4% | ||
| Q2 25 | 8.0% | 6.3% | ||
| Q1 25 | 6.0% | 7.0% | ||
| Q4 24 | 7.3% | 11.7% | ||
| Q3 24 | 6.4% | 14.3% | ||
| Q2 24 | 7.4% | 9.0% |
现金转化率GLWSTLD
| Q1 26 | — | 0.37× | ||
| Q4 25 | 1.95× | 1.03× | ||
| Q3 25 | 1.82× | 1.79× | ||
| Q2 25 | 1.51× | 1.01× | ||
| Q1 25 | 0.96× | 0.70× | ||
| Q4 24 | 2.01× | 1.67× | ||
| Q3 24 | — | 2.39× | ||
| Q2 24 | 5.01× | 0.89× |
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
GLW
暂无分部数据
STLD
| Steel | $3.5B | 68% |
| Metals Recycling | $593.2M | 11% |
| Other | $490.1M | 9% |
| Steel Fabrication | $355.4M | 7% |
| Aluminum | $227.4M | 4% |
