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固铂轮胎（GT）与贝宝（PYPL）财务数据对比。点击上方公司名可切换其他公司
贝宝的季度营收约是固铂轮胎的1.8倍（$8.7B vs $4.9B），贝宝净利率更高（16.6% vs 2.1%，领先14.4%），贝宝同比增速更快（3.7% vs -0.6%），贝宝自由现金流更多（$2.2B vs $1.3B），过去两年贝宝的营收复合增速更高（6.2% vs 4.1%）
固铂轮胎橡胶公司是美国知名轮胎企业，专注于乘用车、卡车替换轮胎的设计、生产、营销与销售，旗下子公司还覆盖中型卡车、摩托车及赛车轮胎业务。公司总部位于俄亥俄州芬德利，在全球拥有60处制造、销售、配送、技术及研发设计基地，旗下还拥有英国雅芳轮胎品牌，生产摩托车等品类的轮胎产品。
贝宝控股（PayPal Holdings, Inc.）是美国跨国金融科技企业，在全球多数支持线上转账的国家运营在线支付系统，可作为支票、汇票等传统纸质支付方式的电子替代选项，同时为线上商户、拍卖网站及各类商业用户提供支付处理服务。
GT vs PYPL — 直观对比
营收规模更大
PYPL
是对方的1.8倍
$4.9B
营收增速更快
PYPL
高出4.3%
-0.6%
净利率更高
PYPL
高出14.4%
2.1%
自由现金流更多
PYPL
多$855.0M
$1.3B
两年增速更快
PYPL
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $8.7B |
| 净利润 | $105.0M | $1.4B |
| 毛利率 | 20.9% | — |
| 营业利润率 | 3.3% | 17.4% |
| 净利率 | 2.1% | 16.6% |
| 营收同比 | -0.6% | 3.7% |
| 净利润同比 | 43.8% | 28.2% |
| 每股收益（稀释后） | $0.36 | $1.53 |
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GTPYPL
| Q4 25 | $4.9B | $8.7B | ||
| Q3 25 | $4.6B | $8.4B | ||
| Q2 25 | $4.5B | $8.3B | ||
| Q1 25 | $4.3B | $7.8B | ||
| Q4 24 | $4.9B | $8.4B | ||
| Q3 24 | $4.8B | $7.8B | ||
| Q2 24 | $4.6B | $7.9B | ||
| Q1 24 | $4.5B | $7.7B |
净利润GTPYPL
| Q4 25 | $105.0M | $1.4B | ||
| Q3 25 | $-2.2B | $1.2B | ||
| Q2 25 | $254.0M | $1.3B | ||
| Q1 25 | $115.0M | $1.3B | ||
| Q4 24 | $73.0M | $1.1B | ||
| Q3 24 | $-37.0M | $1.0B | ||
| Q2 24 | $79.0M | $1.1B | ||
| Q1 24 | $-69.0M | $888.0M |
毛利率GTPYPL
| Q4 25 | 20.9% | — | ||
| Q3 25 | 18.2% | — | ||
| Q2 25 | 17.0% | — | ||
| Q1 25 | 17.4% | — | ||
| Q4 24 | 19.9% | — | ||
| Q3 24 | 19.5% | — | ||
| Q2 24 | 20.6% | — | ||
| Q1 24 | 18.0% | — |
营业利润率GTPYPL
| Q4 25 | 3.3% | 17.4% | ||
| Q3 25 | -15.8% | 18.1% | ||
| Q2 25 | 6.8% | 18.1% | ||
| Q1 25 | 3.1% | 19.6% | ||
| Q4 24 | 1.5% | 17.2% | ||
| Q3 24 | -0.6% | 17.7% | ||
| Q2 24 | 2.9% | 16.8% | ||
| Q1 24 | -1.1% | 15.2% |
净利率GTPYPL
| Q4 25 | 2.1% | 16.6% | ||
| Q3 25 | -47.3% | 14.8% | ||
| Q2 25 | 5.7% | 15.2% | ||
| Q1 25 | 2.7% | 16.5% | ||
| Q4 24 | 1.5% | 13.4% | ||
| Q3 24 | -0.8% | 12.9% | ||
| Q2 24 | 1.7% | 14.3% | ||
| Q1 24 | -1.5% | 11.5% |
每股收益（稀释后）GTPYPL
| Q4 25 | $0.36 | $1.53 | ||
| Q3 25 | $-7.62 | $1.30 | ||
| Q2 25 | $0.87 | $1.29 | ||
| Q1 25 | $0.40 | $1.29 | ||
| Q4 24 | $0.25 | $1.09 | ||
| Q3 24 | $-0.13 | $0.99 | ||
| Q2 24 | $0.28 | $1.08 | ||
| Q1 24 | $-0.24 | $0.83 |
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 | $801.0M | $10.4B |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $3.2B | $20.3B |
| 总资产 | $18.2B | $80.2B |
| 负债/权益比越低杠杆越低 | 1.65× | — |
8季度趋势，按日历期对齐
现金及短期投资GTPYPL
| Q4 25 | $801.0M | $10.4B | ||
| Q3 25 | $810.0M | $10.8B | ||
| Q2 25 | $785.0M | $10.0B | ||
| Q1 25 | $902.0M | $11.2B | ||
| Q4 24 | $810.0M | $10.8B | ||
| Q3 24 | $905.0M | $11.9B | ||
| Q2 24 | $789.0M | $13.6B | ||
| Q1 24 | $893.0M | $14.3B |
总债务GTPYPL
| Q4 25 | $5.3B | — | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $6.6B | — | ||
| Q1 25 | $7.3B | — | ||
| Q4 24 | $6.4B | — | ||
| Q3 24 | $7.4B | — | ||
| Q2 24 | $6.8B | — | ||
| Q1 24 | $7.5B | — |
股东权益GTPYPL
| Q4 25 | $3.2B | $20.3B | ||
| Q3 25 | $3.0B | $20.2B | ||
| Q2 25 | $5.1B | $20.2B | ||
| Q1 25 | $4.9B | $20.3B | ||
| Q4 24 | $4.7B | $20.4B | ||
| Q3 24 | $4.7B | $20.2B | ||
| Q2 24 | $4.7B | $20.6B | ||
| Q1 24 | $4.6B | $20.7B |
总资产GTPYPL
| Q4 25 | $18.2B | $80.2B | ||
| Q3 25 | $20.2B | $79.8B | ||
| Q2 25 | $22.3B | $79.8B | ||
| Q1 25 | $21.7B | $81.3B | ||
| Q4 24 | $20.9B | $81.6B | ||
| Q3 24 | $22.5B | $83.5B | ||
| Q2 24 | $22.0B | $84.0B | ||
| Q1 24 | $22.0B | $83.3B |
负债/权益比GTPYPL
| Q4 25 | 1.65× | — | ||
| Q3 25 | 2.42× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.37× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 1.45× | — | ||
| Q1 24 | 1.61× | — |
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 | $1.5B | $2.4B |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $2.2B |
| 自由现金流率自由现金流/营收 | 27.2% | 25.2% |
| 资本支出强度资本支出/营收 | 3.6% | 2.2% |
| 现金转化率经营现金流/净利润 | 14.40× | 1.66× |
| 过去12个月自由现金流最近4个季度 | $-30.0M | $5.6B |
8季度趋势，按日历期对齐
经营现金流GTPYPL
| Q4 25 | $1.5B | $2.4B | ||
| Q3 25 | $2.0M | $2.0B | ||
| Q2 25 | $-180.0M | $898.0M | ||
| Q1 25 | $-538.0M | $1.2B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $-73.0M | $1.6B | ||
| Q2 24 | $-67.0M | $1.5B | ||
| Q1 24 | $-451.0M | $1.9B |
自由现金流GTPYPL
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $-181.0M | $1.7B | ||
| Q2 25 | $-387.0M | $692.0M | ||
| Q1 25 | $-797.0M | $964.0M | ||
| Q4 24 | $1.0B | $2.2B | ||
| Q3 24 | $-351.0M | $1.4B | ||
| Q2 24 | $-383.0M | $1.4B | ||
| Q1 24 | $-769.0M | $1.8B |
自由现金流率GTPYPL
| Q4 25 | 27.2% | 25.2% | ||
| Q3 25 | -3.9% | 20.4% | ||
| Q2 25 | -8.7% | 8.3% | ||
| Q1 25 | -18.7% | 12.4% | ||
| Q4 24 | 20.5% | 26.2% | ||
| Q3 24 | -7.3% | 18.4% | ||
| Q2 24 | -8.4% | 17.3% | ||
| Q1 24 | -16.9% | 22.9% |
资本支出强度GTPYPL
| Q4 25 | 3.6% | 2.2% | ||
| Q3 25 | 3.9% | 3.0% | ||
| Q2 25 | 4.6% | 2.5% | ||
| Q1 25 | 6.1% | 2.5% | ||
| Q4 24 | 5.6% | 2.4% | ||
| Q3 24 | 5.8% | 2.2% | ||
| Q2 24 | 6.9% | 2.0% | ||
| Q1 24 | 7.0% | 2.0% |
现金转化率GTPYPL
| Q4 25 | 14.40× | 1.66× | ||
| Q3 25 | — | 1.58× | ||
| Q2 25 | -0.71× | 0.71× | ||
| Q1 25 | -4.68× | 0.90× | ||
| Q4 24 | 17.66× | 2.14× | ||
| Q3 24 | — | 1.60× | ||
| Q2 24 | -0.85× | 1.35× | ||
| Q1 24 | — | 2.16× |
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
GT
| Tire Unit Sales | $2.4B | 50% |
| Other | $2.3B | 46% |
| Other Tireand Related Sales | $192.0M | 4% |
PYPL
| US | $4.9B | 57% |
| Non Us | $3.7B | 43% |
