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印度钢铁管理局（SAIL）与Bristow Group Inc.（VTOL）财务数据对比。点击上方公司名可切换其他公司
Bristow Group Inc.的季度营收约是印度钢铁管理局的1.3倍（$377.3M vs $281.9M），Bristow Group Inc.净利率更高（4.9% vs -12.8%，领先17.6%），Bristow Group Inc.同比增速更快（6.7% vs 6.7%），印度钢铁管理局自由现金流更多（$52.5M vs $47.8M）
印度钢铁管理局（SAIL）是总部位于新德里的印度公营钢铁制造企业，属印度最高级别的“马哈拉特纳”中央公共部门企业，是印度最大的国有钢铁生产商，年钢铁产量达1829万吨，1973年1月24日成立，现有员工5.1万余名，由印度钢铁部行政管理。
布里斯托集团旗下的布里斯托直升机有限公司是英国民用直升机运营企业，最初扎根于苏格兰阿伯丁机场，目前集团总部设在美国得克萨斯州休斯顿。2020年，布里斯托集团与美国大型商用直升机运营企业Era直升机完成合并，合并后企业沿用布里斯托品牌名称运营。
SAIL vs VTOL — 直观对比
营收规模更大
VTOL
是对方的1.3倍
$281.9M
营收增速更快
VTOL
高出0.1%
6.7%
净利率更高
VTOL
高出17.6%
-12.8%
自由现金流更多
SAIL
多$4.8M
$47.8M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $281.9M | $377.3M |
| 净利润 | $-36.0M | $18.4M |
| 毛利率 | 66.3% | — |
| 营业利润率 | -14.8% | 8.5% |
| 净利率 | -12.8% | 4.9% |
| 营收同比 | 6.7% | 6.7% |
| 净利润同比 | -240.9% | -42.1% |
| 每股收益（稀释后） | $-0.06 | $0.61 |
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SAILVTOL
| Q4 25 | $281.9M | $377.3M | ||
| Q3 25 | $264.4M | $386.3M | ||
| Q2 25 | $230.5M | $376.4M | ||
| Q1 25 | $240.1M | $350.5M | ||
| Q4 24 | — | $353.5M | ||
| Q3 24 | $198.6M | $365.1M | ||
| Q2 24 | $187.7M | $359.7M | ||
| Q1 24 | — | $337.1M |
净利润SAILVTOL
| Q4 25 | $-36.0M | $18.4M | ||
| Q3 25 | $-10.6M | $51.5M | ||
| Q2 25 | $-187.3M | $31.7M | ||
| Q1 25 | $-80.1M | $27.4M | ||
| Q4 24 | — | $31.8M | ||
| Q3 24 | $-87.1M | $28.2M | ||
| Q2 24 | $-89.2M | $28.2M | ||
| Q1 24 | — | $6.6M |
毛利率SAILVTOL
| Q4 25 | 66.3% | — | ||
| Q3 25 | 67.3% | — | ||
| Q2 25 | 55.4% | — | ||
| Q1 25 | 66.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 62.1% | — | ||
| Q2 24 | 61.5% | — | ||
| Q1 24 | — | — |
营业利润率SAILVTOL
| Q4 25 | -14.8% | 8.5% | ||
| Q3 25 | -15.4% | 13.1% | ||
| Q2 25 | -80.3% | 11.3% | ||
| Q1 25 | -12.6% | 9.6% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | -33.2% | 9.1% | ||
| Q2 24 | -36.3% | 12.4% | ||
| Q1 24 | — | 6.8% |
净利率SAILVTOL
| Q4 25 | -12.8% | 4.9% | ||
| Q3 25 | -4.0% | 13.3% | ||
| Q2 25 | -81.3% | 8.4% | ||
| Q1 25 | -33.4% | 7.8% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | -43.9% | 7.7% | ||
| Q2 24 | -47.5% | 7.8% | ||
| Q1 24 | — | 2.0% |
每股收益（稀释后）SAILVTOL
| Q4 25 | $-0.06 | $0.61 | ||
| Q3 25 | $-0.02 | $1.72 | ||
| Q2 25 | $-0.42 | $1.07 | ||
| Q1 25 | $-6.50 | $0.92 | ||
| Q4 24 | — | $1.07 | ||
| Q3 24 | $-2.97 | $0.95 | ||
| Q2 24 | $-0.77 | $0.96 | ||
| Q1 24 | — | $0.23 |
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 | $298.1M | $286.2M |
| 总债务越低越好 | $0 | $671.5M |
| 股东权益账面价值 | $6.8B | $1.1B |
| 总资产 | $7.5B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资SAILVTOL
| Q4 25 | $298.1M | $286.2M | ||
| Q3 25 | $271.1M | $245.5M | ||
| Q2 25 | $228.1M | $251.8M | ||
| Q1 25 | $121.3M | $191.1M | ||
| Q4 24 | — | $247.5M | ||
| Q3 24 | $89.7M | $200.3M | ||
| Q2 24 | $146.8M | $178.6M | ||
| Q1 24 | — | $140.6M |
总债务SAILVTOL
| Q4 25 | $0 | $671.5M | ||
| Q3 25 | $0 | $675.0M | ||
| Q2 25 | $0 | $705.2M | ||
| Q1 25 | $1.0B | $701.9M | ||
| Q4 24 | — | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | — | $594.2M | ||
| Q1 24 | — | $544.1M |
股东权益SAILVTOL
| Q4 25 | $6.8B | $1.1B | ||
| Q3 25 | $6.8B | $1.0B | ||
| Q2 25 | $6.8B | $984.4M | ||
| Q1 25 | $-5.6B | $931.7M | ||
| Q4 24 | — | $891.7M | ||
| Q3 24 | $-701.3M | $899.2M | ||
| Q2 24 | $-622.5M | $849.1M | ||
| Q1 24 | — | $820.7M |
总资产SAILVTOL
| Q4 25 | $7.5B | $2.3B | ||
| Q3 25 | $7.4B | $2.3B | ||
| Q2 25 | $7.4B | $2.3B | ||
| Q1 25 | $7.4B | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $1.9B |
负债/权益比SAILVTOL
| Q4 25 | 0.00× | 0.63× | ||
| Q3 25 | 0.00× | 0.65× | ||
| Q2 25 | 0.00× | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.66× |
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 | $53.6M | $76.9M |
| 自由现金流经营现金流 - 资本支出 | $52.5M | $47.8M |
| 自由现金流率自由现金流/营收 | 18.6% | 12.7% |
| 资本支出强度资本支出/营收 | 0.4% | 7.7% |
| 现金转化率经营现金流/净利润 | — | 4.17× |
| 过去12个月自由现金流最近4个季度 | — | $56.4M |
8季度趋势，按日历期对齐
经营现金流SAILVTOL
| Q4 25 | $53.6M | $76.9M | ||
| Q3 25 | $49.9M | $23.1M | ||
| Q2 25 | $-96.8M | $99.0M | ||
| Q1 25 | — | $-603.0K | ||
| Q4 24 | — | $51.1M | ||
| Q3 24 | — | $66.0M | ||
| Q2 24 | $-55.4M | $33.7M | ||
| Q1 24 | — | $26.7M |
自由现金流SAILVTOL
| Q4 25 | $52.5M | $47.8M | ||
| Q3 25 | $49.0M | $-6.2M | ||
| Q2 25 | $-99.0M | $67.4M | ||
| Q1 25 | — | $-52.7M | ||
| Q4 24 | — | $-32.4M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | $-56.0M | $-16.7M | ||
| Q1 24 | — | $-37.9M |
自由现金流率SAILVTOL
| Q4 25 | 18.6% | 12.7% | ||
| Q3 25 | 18.5% | -1.6% | ||
| Q2 25 | -43.0% | 17.9% | ||
| Q1 25 | — | -15.0% | ||
| Q4 24 | — | -9.2% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | -29.8% | -4.6% | ||
| Q1 24 | — | -11.2% |
资本支出强度SAILVTOL
| Q4 25 | 0.4% | 7.7% | ||
| Q3 25 | 0.4% | 7.6% | ||
| Q2 25 | 1.0% | 8.4% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | 0.3% | 14.0% | ||
| Q1 24 | — | 19.2% |
现金转化率SAILVTOL
| Q4 25 | — | 4.17× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 3.12× | ||
| Q1 25 | — | -0.02× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | — | 4.04× |
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
SAIL
| Software As A Service Saa S | $156.0M | 55% |
| Term Subscriptions Services | $65.1M | 23% |
| Maintenance | $38.0M | 13% |
| Other | $15.7M | 6% |
| Other Subscription Services | $7.1M | 3% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
