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奥驰亚（MO）与STEPAN CO（SCL）财务数据对比。点击上方公司名可切换其他公司
奥驰亚的季度营收约是STEPAN CO的10.6倍（$5.8B vs $553.9M）。奥驰亚净利率更高（19.1% vs 0.9%，领先18.2%）。STEPAN CO同比增速更快（5.4% vs -2.1%）。奥驰亚自由现金流更多（$3.2B vs $25.4M）。过去两年奥驰亚的营收复合增速更高（2.4% vs 0.2%）
奥驰亚集团是美国头部烟草企业，通过旗下子公司生产销售可燃烟草与口服类烟草相关产品，核心品牌包括万宝路香烟、Black & Mild雪茄及烟斗烟、哥本哈根、斯库尔等湿无烟烟草，以及on!口服尼古丁袋，产品主要供应批发商、分销商及大型零售客户。
斯特潘公司是一家美国特种化学品制造商，总部位于伊利诺伊州诺斯布鲁克，1932年由小阿尔弗雷德·C·斯特潘创立，现有约2000名员工，目前由创始人的孙子小F·奎因·斯特潘执掌。该公司是全球最大的阴离子表面活性剂商品生产商，产品用于提升洗涤剂、洗发水、牙膏及化妆品的起泡与清洁能力。
MO vs SCL — 直观对比
营收规模更大
MO
是对方的10.6倍
$553.9M
营收增速更快
SCL
高出7.5%
-2.1%
净利率更高
MO
高出18.2%
0.9%
自由现金流更多
MO
多$3.2B
$25.4M
两年增速更快
MO
近两年复合增速
0.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.8B | $553.9M |
| 净利润 | $1.1B | $5.0M |
| 毛利率 | 62.1% | 9.3% |
| 营业利润率 | 28.2% | 1.9% |
| 净利率 | 19.1% | 0.9% |
| 营收同比 | -2.1% | 5.4% |
| 净利润同比 | -63.2% | 49.4% |
| 每股收益（稀释后） | $0.67 | $0.22 |
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MOSCL
| Q4 25 | $5.8B | $553.9M | ||
| Q3 25 | $6.1B | $590.3M | ||
| Q2 25 | $6.1B | $594.7M | ||
| Q1 25 | $5.3B | $593.3M | ||
| Q4 24 | $6.0B | $525.6M | ||
| Q3 24 | $6.3B | $546.8M | ||
| Q2 24 | $6.2B | $556.4M | ||
| Q1 24 | $5.6B | $551.4M |
净利润MOSCL
| Q4 25 | $1.1B | $5.0M | ||
| Q3 25 | $2.4B | $10.8M | ||
| Q2 25 | $2.4B | $11.3M | ||
| Q1 25 | $1.1B | $19.7M | ||
| Q4 24 | $3.0B | $3.4M | ||
| Q3 24 | $2.3B | $23.6M | ||
| Q2 24 | $3.8B | $9.5M | ||
| Q1 24 | $2.1B | $13.9M |
毛利率MOSCL
| Q4 25 | 62.1% | 9.3% | ||
| Q3 25 | 62.8% | 12.0% | ||
| Q2 25 | 63.1% | 12.1% | ||
| Q1 25 | 61.8% | 12.7% | ||
| Q4 24 | 60.3% | 10.8% | ||
| Q3 24 | 60.8% | 13.8% | ||
| Q2 24 | 59.2% | 12.5% | ||
| Q1 24 | 58.8% | 12.7% |
营业利润率MOSCL
| Q4 25 | 28.2% | 1.9% | ||
| Q3 25 | 53.2% | 3.7% | ||
| Q2 25 | 52.9% | 3.0% | ||
| Q1 25 | 34.0% | 4.8% | ||
| Q4 24 | 48.2% | 1.5% | ||
| Q3 24 | 50.4% | 4.4% | ||
| Q2 24 | 40.8% | 3.4% | ||
| Q1 24 | 48.0% | 3.7% |
净利率MOSCL
| Q4 25 | 19.1% | 0.9% | ||
| Q3 25 | 39.1% | 1.8% | ||
| Q2 25 | 39.0% | 1.9% | ||
| Q1 25 | 20.5% | 3.3% | ||
| Q4 24 | 50.9% | 0.6% | ||
| Q3 24 | 36.6% | 4.3% | ||
| Q2 24 | 61.2% | 1.7% | ||
| Q1 24 | 38.2% | 2.5% |
每股收益（稀释后）MOSCL
| Q4 25 | $0.67 | $0.22 | ||
| Q3 25 | $1.41 | $0.47 | ||
| Q2 25 | $1.41 | $0.50 | ||
| Q1 25 | $0.63 | $0.86 | ||
| Q4 24 | $1.78 | $0.14 | ||
| Q3 24 | $1.34 | $1.03 | ||
| Q2 24 | $2.21 | $0.42 | ||
| Q1 24 | $1.21 | $0.61 |
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 | $4.5B | $132.7M |
| 总债务越低越好 | $25.7B | $626.7M |
| 股东权益账面价值 | $-3.5B | $1.2B |
| 总资产 | $35.0B | $2.4B |
| 负债/权益比越低杠杆越低 | — | 0.50× |
8季度趋势，按日历期对齐
现金及短期投资MOSCL
| Q4 25 | $4.5B | $132.7M | ||
| Q3 25 | $3.5B | $118.5M | ||
| Q2 25 | $1.3B | $88.9M | ||
| Q1 25 | $4.7B | $107.5M | ||
| Q4 24 | $3.1B | $99.7M | ||
| Q3 24 | $1.9B | $147.3M | ||
| Q2 24 | $1.8B | $124.7M | ||
| Q1 24 | $3.6B | $125.8M |
总债务MOSCL
| Q4 25 | $25.7B | $626.7M | ||
| Q3 25 | $25.7B | $655.5M | ||
| Q2 25 | $24.7B | $658.0M | ||
| Q1 25 | $26.1B | $659.3M | ||
| Q4 24 | $24.9B | $625.4M | ||
| Q3 24 | $25.2B | $688.5M | ||
| Q2 24 | $25.0B | $657.1M | ||
| Q1 24 | $25.0B | $646.0M |
股东权益MOSCL
| Q4 25 | $-3.5B | $1.2B | ||
| Q3 25 | $-2.6B | $1.2B | ||
| Q2 25 | $-3.3B | $1.2B | ||
| Q1 25 | $-3.5B | $1.2B | ||
| Q4 24 | $-2.2B | $1.2B | ||
| Q3 24 | $-3.5B | $1.2B | ||
| Q2 24 | $-3.0B | $1.2B | ||
| Q1 24 | $-5.1B | $1.2B |
总资产MOSCL
| Q4 25 | $35.0B | $2.4B | ||
| Q3 25 | $35.0B | $2.4B | ||
| Q2 25 | $32.3B | $2.4B | ||
| Q1 25 | $35.8B | $2.4B | ||
| Q4 24 | $35.2B | $2.3B | ||
| Q3 24 | $34.2B | $2.4B | ||
| Q2 24 | $34.4B | $2.3B | ||
| Q1 24 | $36.5B | $2.4B |
负债/权益比MOSCL
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | 0.53× | ||
| Q3 24 | — | 0.56× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.53× |
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 | $3.3B | $60.0M |
| 自由现金流经营现金流 - 资本支出 | $3.2B | $25.4M |
| 自由现金流率自由现金流/营收 | 54.4% | 4.6% |
| 资本支出强度资本支出/营收 | 1.6% | 6.3% |
| 现金转化率经营现金流/净利润 | 2.93× | 11.99× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $25.4M |
8季度趋势，按日历期对齐
经营现金流MOSCL
| Q4 25 | $3.3B | $60.0M | ||
| Q3 25 | $3.1B | $69.8M | ||
| Q2 25 | $205.0M | $11.2M | ||
| Q1 25 | $2.7B | $6.9M | ||
| Q4 24 | $3.3B | $68.3M | ||
| Q3 24 | $2.6B | $22.7M | ||
| Q2 24 | $-75.0M | $29.5M | ||
| Q1 24 | $2.9B | $41.6M |
自由现金流MOSCL
| Q4 25 | $3.2B | $25.4M | ||
| Q3 25 | $3.0B | $40.2M | ||
| Q2 25 | $173.0M | $-14.4M | ||
| Q1 25 | $2.7B | $-25.8M | ||
| Q4 24 | $3.3B | $32.1M | ||
| Q3 24 | $2.6B | $-4.0M | ||
| Q2 24 | $-104.0M | $-208.0K | ||
| Q1 24 | $2.8B | $11.4M |
自由现金流率MOSCL
| Q4 25 | 54.4% | 4.6% | ||
| Q3 25 | 50.1% | 6.8% | ||
| Q2 25 | 2.8% | -2.4% | ||
| Q1 25 | 51.0% | -4.3% | ||
| Q4 24 | 55.1% | 6.1% | ||
| Q3 24 | 41.2% | -0.7% | ||
| Q2 24 | -1.7% | -0.0% | ||
| Q1 24 | 51.0% | 2.1% |
资本支出强度MOSCL
| Q4 25 | 1.6% | 6.3% | ||
| Q3 25 | 0.9% | 5.0% | ||
| Q2 25 | 0.5% | 4.3% | ||
| Q1 25 | 0.7% | 5.5% | ||
| Q4 24 | 0.8% | 6.9% | ||
| Q3 24 | 0.5% | 4.9% | ||
| Q2 24 | 0.5% | 5.3% | ||
| Q1 24 | 0.6% | 5.5% |
现金转化率MOSCL
| Q4 25 | 2.93× | 11.99× | ||
| Q3 25 | 1.30× | 6.44× | ||
| Q2 25 | 0.09× | 0.99× | ||
| Q1 25 | 2.53× | 0.35× | ||
| Q4 24 | 1.10× | 20.38× | ||
| Q3 24 | 1.14× | 0.96× | ||
| Q2 24 | -0.02× | 3.10× | ||
| Q1 24 | 1.35× | 2.99× |
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
MO
| Smokeable Products Segment | $5.1B | 88% |
| Oral Tobacco Segment | $706.0M | 12% |
SCL
| Surfactants | $401.8M | 73% |
| Polymers | $131.7M | 24% |
| Specialty Products | $20.4M | 4% |
