vs
Smurfit Westrock（SW）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Smurfit Westrock的1.9倍（$14.6B vs $7.7B），美国联合航空净利率更高（4.8% vs 0.8%，领先4.0%），美国联合航空同比增速更快（10.6% vs 0.7%），过去两年Smurfit Westrock的营收复合增速更高（61.2% vs -1.3%）
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
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。
SW vs UAL — 直观对比
营收规模更大
UAL
是对方的1.9倍
$7.7B
营收增速更快
UAL
高出9.8%
0.7%
净利率更高
UAL
高出4.0%
0.8%
两年增速更快
SW
近两年复合增速
-1.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $7.7B | $14.6B |
| 净利润 | $63.0M | $699.0M |
| 毛利率 | 16.4% | — |
| 营业利润率 | 3.3% | 6.8% |
| 净利率 | 0.8% | 4.8% |
| 营收同比 | 0.7% | 10.6% |
| 净利润同比 | 0.0% | 769.4% |
| 每股收益（稀释后） | $0.12 | $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SWUAL
| Q1 26 | $7.7B | $14.6B | ||
| Q4 25 | $7.6B | $15.4B | ||
| Q3 25 | $8.0B | $15.2B | ||
| Q2 25 | $7.9B | $15.2B | ||
| Q1 25 | $7.7B | $13.2B | ||
| Q4 24 | $7.5B | $14.7B | ||
| Q3 24 | $7.7B | $14.8B | ||
| Q2 24 | $3.0B | $15.0B |
净利润SWUAL
| Q1 26 | $63.0M | $699.0M | ||
| Q4 25 | $97.0M | $1.0B | ||
| Q3 25 | $246.0M | $949.0M | ||
| Q2 25 | $-28.0M | $973.0M | ||
| Q1 25 | $384.0M | $387.0M | ||
| Q4 24 | $146.0M | $985.0M | ||
| Q3 24 | $-150.0M | $965.0M | ||
| Q2 24 | $132.0M | $1.3B |
毛利率SWUAL
| Q1 26 | 16.4% | — | ||
| Q4 25 | 18.2% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | 20.6% | — | ||
| Q4 24 | 19.1% | — | ||
| Q3 24 | 17.6% | — | ||
| Q2 24 | 23.3% | — |
营业利润率SWUAL
| Q1 26 | 3.3% | 6.8% | ||
| Q4 25 | 5.1% | 9.0% | ||
| Q3 25 | 6.6% | 9.2% | ||
| Q2 25 | 3.2% | 8.7% | ||
| Q1 25 | 7.2% | 4.6% | ||
| Q4 24 | 5.3% | 10.2% | ||
| Q3 24 | 0.7% | 10.5% | ||
| Q2 24 | 8.2% | 12.9% |
净利率SWUAL
| Q1 26 | 0.8% | 4.8% | ||
| Q4 25 | 1.3% | 6.8% | ||
| Q3 25 | 3.1% | 6.2% | ||
| Q2 25 | -0.4% | 6.4% | ||
| Q1 25 | 5.0% | 2.9% | ||
| Q4 24 | 1.9% | 6.7% | ||
| Q3 24 | -2.0% | 6.5% | ||
| Q2 24 | 4.4% | 8.8% |
每股收益（稀释后）SWUAL
| Q1 26 | $0.12 | $2.14 | ||
| Q4 25 | $0.18 | $3.17 | ||
| Q3 25 | $0.47 | $2.90 | ||
| Q2 25 | $-0.05 | $2.97 | ||
| Q1 25 | $0.73 | $1.16 | ||
| Q4 24 | $-0.12 | $2.97 | ||
| Q3 24 | $-0.30 | $2.90 | ||
| Q2 24 | $0.51 | $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 | $980.0M | — |
| 股东权益账面价值 | $18.1B | $15.9B |
| 总资产 | $45.2B | $80.9B |
| 负债/权益比越低杠杆越低 | 0.05× | — |
8季度趋势，按日历期对齐
现金及短期投资SWUAL
| Q1 26 | — | $14.2B | ||
| Q4 25 | $892.0M | $12.2B | ||
| Q3 25 | $851.0M | $13.3B | ||
| Q2 25 | $778.0M | $15.6B | ||
| Q1 25 | $797.0M | $15.3B | ||
| Q4 24 | $855.0M | $14.5B | ||
| Q3 24 | — | $14.2B | ||
| Q2 24 | $26.8K | $15.2B |
总债务SWUAL
| Q1 26 | $980.0M | — | ||
| Q4 25 | $13.4B | $20.6B | ||
| Q3 25 | $13.3B | $20.8B | ||
| Q2 25 | $13.3B | $20.9B | ||
| Q1 25 | $12.9B | $24.4B | ||
| Q4 24 | $12.5B | $25.2B | ||
| Q3 24 | $13.2B | — | ||
| Q2 24 | — | — |
股东权益SWUAL
| Q1 26 | $18.1B | $15.9B | ||
| Q4 25 | $18.3B | $15.3B | ||
| Q3 25 | $18.4B | $14.3B | ||
| Q2 25 | $18.3B | $13.4B | ||
| Q1 25 | $17.9B | $12.6B | ||
| Q4 24 | $17.4B | $12.7B | ||
| Q3 24 | $18.0B | $11.4B | ||
| Q2 24 | $14.5K | $10.5B |
总资产SWUAL
| Q1 26 | $45.2B | $80.9B | ||
| Q4 25 | $45.2B | $76.4B | ||
| Q3 25 | $45.6B | $76.3B | ||
| Q2 25 | $45.7B | $77.2B | ||
| Q1 25 | $44.6B | $76.1B | ||
| Q4 24 | $43.8B | $74.1B | ||
| Q3 24 | $45.0B | $72.6B | ||
| Q2 24 | $26.8K | $73.3B |
负债/权益比SWUAL
| Q1 26 | 0.05× | — | ||
| Q4 25 | 0.73× | 1.35× | ||
| Q3 25 | 0.72× | 1.45× | ||
| Q2 25 | 0.73× | 1.56× | ||
| Q1 25 | 0.72× | 1.93× | ||
| Q4 24 | 0.72× | 1.99× | ||
| Q3 24 | 0.73× | — | ||
| Q2 24 | — | — |
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 | $204.0M | $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 | 3.24× | 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SWUAL
| Q1 26 | $204.0M | $4.8B | ||
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $829.0M | $2.2B | ||
| Q1 25 | $235.0M | $3.7B | ||
| Q4 24 | $781.0M | $2.2B | ||
| Q3 24 | $320.0M | $1.5B | ||
| Q2 24 | $340.0M | $2.9B |
自由现金流SWUAL
| Q1 26 | — | $2.0B | ||
| Q4 25 | $612.0M | $-604.0M | ||
| Q3 25 | $523.0M | $-246.0M | ||
| Q2 25 | $307.0M | $930.0M | ||
| Q1 25 | $-242.0M | $2.5B | ||
| Q4 24 | $212.0M | $549.0M | ||
| Q3 24 | $-192.0M | $88.0M | ||
| Q2 24 | $163.0M | $1.7B |
自由现金流率SWUAL
| Q1 26 | — | 13.9% | ||
| Q4 25 | 8.1% | -3.9% | ||
| Q3 25 | 6.5% | -1.6% | ||
| Q2 25 | 3.9% | 6.1% | ||
| Q1 25 | -3.2% | 18.7% | ||
| Q4 24 | 2.8% | 3.7% | ||
| Q3 24 | -2.5% | 0.6% | ||
| Q2 24 | 5.5% | 11.4% |
资本支出强度SWUAL
| Q1 26 | — | 13.9% | ||
| Q4 25 | 7.7% | 12.3% | ||
| Q3 25 | 7.6% | 9.6% | ||
| Q2 25 | 6.6% | 8.4% | ||
| Q1 25 | 6.2% | 9.3% | ||
| Q4 24 | 7.5% | 11.4% | ||
| Q3 24 | 6.7% | 9.5% | ||
| Q2 24 | 6.0% | 7.8% |
现金转化率SWUAL
| Q1 26 | 3.24× | 6.87× | ||
| Q4 25 | 12.32× | 1.23× | ||
| Q3 25 | 4.61× | 1.28× | ||
| Q2 25 | — | 2.28× | ||
| Q1 25 | 0.61× | 9.59× | ||
| Q4 24 | 5.35× | 2.26× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | 2.58× | 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
SW
暂无分部数据
UAL
| Passenger revenue | $13.2B | 90% |
| Other | $1.0B | 7% |
| Cargo revenue | $422.0M | 3% |
