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SKYWEST INC（SKYW）与美国联合航空（UAL）财务数据对比。点击上方公司名可切换其他公司
美国联合航空的季度营收约是SKYWEST INC的14.4倍（$14.6B vs $1.0B），SKYWEST INC净利率更高（10.0% vs 4.8%，领先5.3%），美国联合航空同比增速更快（10.6% vs 6.8%），过去两年SKYWEST INC的营收复合增速更高（8.1% vs -1.3%）
天西航空（SkyWest Inc.）是总部位于美国犹他州圣乔治的控股企业，旗下主营北美支线航空公司天西航空，同时运营飞机租赁业务，是北美区域航空运营领域的重要参与者。
美国联合航空是美国主要航企，总部位于伊利诺伊州芝加哥，运营覆盖美国本土及六大洲的广阔国内外航线网络，区域航线由独立航司以美联航快运品牌运营，作为星空联盟五大创始航司之一，其航线网络可辐射全球各地。
SKYW vs UAL — 直观对比
营收规模更大
UAL
是对方的14.4倍
$1.0B
营收增速更快
UAL
高出3.7%
6.8%
净利率更高
SKYW
高出5.3%
4.8%
两年增速更快
SKYW
近两年复合增速
-1.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $14.6B |
| 净利润 | $101.7M | $699.0M |
| 毛利率 | — | — |
| 营业利润率 | 12.2% | 6.8% |
| 净利率 | 10.0% | 4.8% |
| 营收同比 | 6.8% | 10.6% |
| 净利润同比 | 1.1% | 80.6% |
| 每股收益（稀释后） | $2.50 | $2.14 |
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SKYWUAL
| Q1 26 | $1.0B | $14.6B | ||
| Q4 25 | $1.0B | $15.4B | ||
| Q3 25 | $1.1B | $15.2B | ||
| Q2 25 | $1.0B | $15.2B | ||
| Q1 25 | $948.5M | $13.2B | ||
| Q4 24 | $944.4M | $14.7B | ||
| Q3 24 | $912.8M | $14.8B | ||
| Q2 24 | $867.1M | $15.0B |
净利润SKYWUAL
| Q1 26 | $101.7M | $699.0M | ||
| Q4 25 | $91.2M | $1.0B | ||
| Q3 25 | $116.4M | $949.0M | ||
| Q2 25 | $120.3M | $973.0M | ||
| Q1 25 | $100.6M | $387.0M | ||
| Q4 24 | $97.4M | $985.0M | ||
| Q3 24 | $89.7M | $965.0M | ||
| Q2 24 | $75.6M | $1.3B |
营业利润率SKYWUAL
| Q1 26 | 12.2% | 6.8% | ||
| Q4 25 | 13.1% | 9.0% | ||
| Q3 25 | 16.6% | 9.2% | ||
| Q2 25 | 16.4% | 8.7% | ||
| Q1 25 | 14.7% | 4.6% | ||
| Q4 24 | 15.3% | 10.2% | ||
| Q3 24 | 14.4% | 10.5% | ||
| Q2 24 | 13.8% | 12.9% |
净利率SKYWUAL
| Q1 26 | 10.0% | 4.8% | ||
| Q4 25 | 8.9% | 6.8% | ||
| Q3 25 | 11.1% | 6.2% | ||
| Q2 25 | 11.6% | 6.4% | ||
| Q1 25 | 10.6% | 2.9% | ||
| Q4 24 | 10.3% | 6.7% | ||
| Q3 24 | 9.8% | 6.5% | ||
| Q2 24 | 8.7% | 8.8% |
每股收益（稀释后）SKYWUAL
| Q1 26 | $2.50 | $2.14 | ||
| Q4 25 | $2.21 | $3.17 | ||
| Q3 25 | $2.81 | $2.90 | ||
| Q2 25 | $2.91 | $2.97 | ||
| Q1 25 | $2.42 | $1.16 | ||
| Q4 24 | $2.34 | $2.97 | ||
| Q3 24 | $2.16 | $2.90 | ||
| Q2 24 | $1.82 | $3.96 |
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 | — | $14.2B |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $2.7B | $15.9B |
| 总资产 | $7.3B | $80.9B |
| 负债/权益比越低杠杆越低 | 0.66× | — |
8季度趋势，按日历期对齐
现金及短期投资SKYWUAL
| Q1 26 | — | $14.2B | ||
| Q4 25 | $122.7M | $12.2B | ||
| Q3 25 | $44.5M | $13.3B | ||
| Q2 25 | $48.3M | $15.6B | ||
| Q1 25 | $179.0M | $15.3B | ||
| Q4 24 | $227.4M | $14.5B | ||
| Q3 24 | $177.6M | $14.2B | ||
| Q2 24 | $141.8M | $15.2B |
总债务SKYWUAL
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $20.6B | ||
| Q3 25 | $2.4B | $20.8B | ||
| Q2 25 | $2.5B | $20.9B | ||
| Q1 25 | $2.6B | $24.4B | ||
| Q4 24 | $2.7B | $25.2B | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — |
股东权益SKYWUAL
| Q1 26 | $2.7B | $15.9B | ||
| Q4 25 | $2.7B | $15.3B | ||
| Q3 25 | $2.7B | $14.3B | ||
| Q2 25 | $2.6B | $13.4B | ||
| Q1 25 | $2.5B | $12.6B | ||
| Q4 24 | $2.4B | $12.7B | ||
| Q3 24 | $2.3B | $11.4B | ||
| Q2 24 | $2.2B | $10.5B |
总资产SKYWUAL
| Q1 26 | $7.3B | $80.9B | ||
| Q4 25 | $7.4B | $76.4B | ||
| Q3 25 | $7.2B | $76.3B | ||
| Q2 25 | $7.2B | $77.2B | ||
| Q1 25 | $7.1B | $76.1B | ||
| Q4 24 | $7.1B | $74.1B | ||
| Q3 24 | $7.0B | $72.6B | ||
| Q2 24 | $7.0B | $73.3B |
负债/权益比SKYWUAL
| Q1 26 | 0.66× | — | ||
| Q4 25 | — | 1.35× | ||
| Q3 25 | 0.89× | 1.45× | ||
| Q2 25 | 0.97× | 1.56× | ||
| Q1 25 | 1.03× | 1.93× | ||
| Q4 24 | 1.11× | 1.99× | ||
| Q3 24 | 1.17× | — | ||
| Q2 24 | 1.25× | — |
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 | — | $4.8B |
| 自由现金流经营现金流 - 资本支出 | — | $2.0B |
| 自由现金流率自由现金流/营收 | — | 13.9% |
| 资本支出强度资本支出/营收 | — | 13.9% |
| 现金转化率经营现金流/净利润 | — | 6.87× |
| 过去12个月自由现金流最近4个季度 | — | $2.1B |
8季度趋势，按日历期对齐
经营现金流SKYWUAL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $231.5M | $1.3B | ||
| Q3 25 | $280.8M | $1.2B | ||
| Q2 25 | $257.1M | $2.2B | ||
| Q1 25 | $171.0M | $3.7B | ||
| Q4 24 | $185.9M | $2.2B | ||
| Q3 24 | $183.6M | $1.5B | ||
| Q2 24 | $165.3M | $2.9B |
自由现金流SKYWUAL
| Q1 26 | — | $2.0B | ||
| Q4 25 | $224.3M | $-604.0M | ||
| Q3 25 | $269.9M | $-246.0M | ||
| Q2 25 | $251.5M | $930.0M | ||
| Q1 25 | $162.6M | $2.5B | ||
| Q4 24 | $162.7M | $549.0M | ||
| Q3 24 | $172.1M | $88.0M | ||
| Q2 24 | $159.4M | $1.7B |
自由现金流率SKYWUAL
| Q1 26 | — | 13.9% | ||
| Q4 25 | 21.9% | -3.9% | ||
| Q3 25 | 25.7% | -1.6% | ||
| Q2 25 | 24.3% | 6.1% | ||
| Q1 25 | 17.1% | 18.7% | ||
| Q4 24 | 17.2% | 3.7% | ||
| Q3 24 | 18.9% | 0.6% | ||
| Q2 24 | 18.4% | 11.4% |
资本支出强度SKYWUAL
| Q1 26 | — | 13.9% | ||
| Q4 25 | 0.7% | 12.3% | ||
| Q3 25 | 1.0% | 9.6% | ||
| Q2 25 | 0.5% | 8.4% | ||
| Q1 25 | 0.9% | 9.3% | ||
| Q4 24 | 2.5% | 11.4% | ||
| Q3 24 | 1.3% | 9.5% | ||
| Q2 24 | 0.7% | 7.8% |
现金转化率SKYWUAL
| Q1 26 | — | 6.87× | ||
| Q4 25 | 2.54× | 1.23× | ||
| Q3 25 | 2.41× | 1.28× | ||
| Q2 25 | 2.14× | 2.28× | ||
| Q1 25 | 1.70× | 9.59× | ||
| Q4 24 | 1.91× | 2.26× | ||
| Q3 24 | 2.05× | 1.55× | ||
| Q2 24 | 2.19× | 2.17× |
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
SKYW
| Flying agreements | $977.9M | 97% |
| Lease, airport services and other | $35.3M | 3% |
UAL
| Passenger revenue | $13.2B | 90% |
| Other | $1.0B | 7% |
| Cargo revenue | $422.0M | 3% |
