vs
American Electric Power（AEP）与嘉年华集团（CCL）财务数据对比。点击上方公司名可切换其他公司
嘉年华集团的季度营收约是American Electric Power的1.3倍（$6.3B vs $5.1B），American Electric Power净利率更高（12.0% vs 6.6%，领先5.3%），嘉年华集团同比增速更快（6.6% vs 6.2%），过去两年嘉年华集团的营收复合增速更高（8.2% vs -0.3%）
AEP是美国知名电力公用事业控股企业，业务覆盖发电、输电、配电全链条，面向美国境内零售及批发客户销售电力。公司下设垂直整合公用事业、输配电、输电控股、发电与营销四大业务板块，采用煤炭、天然气、核电、水电、光伏、风电等多种能源发电。
嘉年华集团是全球规模最大的休闲旅游集团，核心业务为邮轮运营，旗下拥有多个全球知名邮轮品牌，每年服务数百万乘客，提供覆盖住宿、餐饮、娱乐、岸上观光的一站式度假体验，航线遍布全球热门目的地。
AEP vs CCL — 直观对比
营收规模更大
CCL
是对方的1.3倍
$5.1B
营收增速更快
CCL
高出0.4%
6.2%
净利率更高
AEP
高出5.3%
6.6%
两年增速更快
CCL
近两年复合增速
-0.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.1B | $6.3B |
| 净利润 | $605.2M | $421.0M |
| 毛利率 | — | — |
| 营业利润率 | 22.1% | 11.6% |
| 净利率 | 12.0% | 6.6% |
| 营收同比 | 6.2% | 6.6% |
| 净利润同比 | -9.1% | 38.9% |
| 每股收益（稀释后） | $1.06 | $0.33 |
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AEPCCL
| Q4 25 | $5.1B | $6.3B | ||
| Q3 25 | $6.0B | $8.2B | ||
| Q2 25 | $5.1B | $6.3B | ||
| Q1 25 | $5.6B | $5.8B | ||
| Q4 24 | $4.8B | $5.9B | ||
| Q3 24 | $5.5B | $7.9B | ||
| Q2 24 | $4.7B | $5.8B | ||
| Q1 24 | $5.1B | $5.4B |
净利润AEPCCL
| Q4 25 | $605.2M | $421.0M | ||
| Q3 25 | $1.0B | $1.9B | ||
| Q2 25 | $1.3B | $565.0M | ||
| Q1 25 | $802.2M | $-78.0M | ||
| Q4 24 | $665.9M | $303.0M | ||
| Q3 24 | $961.7M | $1.7B | ||
| Q2 24 | $342.5M | $92.0M | ||
| Q1 24 | $1.0B | $-214.0M |
毛利率AEPCCL
| Q4 25 | — | — | ||
| Q3 25 | — | 46.2% | ||
| Q2 25 | — | 38.6% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | — | 45.5% | ||
| Q2 24 | — | 34.3% | ||
| Q1 24 | — | 31.5% |
营业利润率AEPCCL
| Q4 25 | 22.1% | 11.6% | ||
| Q3 25 | 25.5% | 27.9% | ||
| Q2 25 | 27.7% | 14.8% | ||
| Q1 25 | 22.8% | 9.3% | ||
| Q4 24 | 23.0% | 9.4% | ||
| Q3 24 | 24.7% | 27.6% | ||
| Q2 24 | 14.7% | 9.7% | ||
| Q1 24 | 23.1% | 5.1% |
净利率AEPCCL
| Q4 25 | 12.0% | 6.6% | ||
| Q3 25 | 16.8% | 22.7% | ||
| Q2 25 | 25.5% | 8.9% | ||
| Q1 25 | 14.2% | -1.3% | ||
| Q4 24 | 14.0% | 5.1% | ||
| Q3 24 | 17.6% | 22.0% | ||
| Q2 24 | 7.4% | 1.6% | ||
| Q1 24 | 19.8% | -4.0% |
每股收益（稀释后）AEPCCL
| Q4 25 | $1.06 | $0.33 | ||
| Q3 25 | $1.81 | $1.33 | ||
| Q2 25 | $2.29 | $0.42 | ||
| Q1 25 | $1.50 | $-0.06 | ||
| Q4 24 | $1.24 | $0.28 | ||
| Q3 24 | $1.80 | $1.26 | ||
| Q2 24 | $0.64 | $0.07 | ||
| Q1 24 | $1.90 | $-0.17 |
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 | $417.0M | $1.9B |
| 总债务越低越好 | $47.3B | $27.4B |
| 股东权益账面价值 | $31.1B | $12.3B |
| 总资产 | $114.5B | $51.7B |
| 负债/权益比越低杠杆越低 | 1.52× | 2.23× |
8季度趋势，按日历期对齐
现金及短期投资AEPCCL
| Q4 25 | $417.0M | $1.9B | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $439.3M | $2.1B | ||
| Q1 25 | $463.6M | $833.0M | ||
| Q4 24 | $418.3M | $1.2B | ||
| Q3 24 | $474.4M | $1.5B | ||
| Q2 24 | $428.2M | $1.6B | ||
| Q1 24 | $447.7M | $2.2B |
总债务AEPCCL
| Q4 25 | $47.3B | $27.4B | ||
| Q3 25 | $46.1B | $27.2B | ||
| Q2 25 | $44.5B | $28.0B | ||
| Q1 25 | $43.0B | $27.7B | ||
| Q4 24 | $42.6B | $28.2B | ||
| Q3 24 | $42.0B | $29.6B | ||
| Q2 24 | $42.1B | $30.2B | ||
| Q1 24 | $39.8B | $31.6B |
股东权益AEPCCL
| Q4 25 | $31.1B | $12.3B | ||
| Q3 25 | $30.4B | $11.9B | ||
| Q2 25 | $29.9B | $10.0B | ||
| Q1 25 | $27.3B | $9.2B | ||
| Q4 24 | $26.9B | $9.3B | ||
| Q3 24 | $26.6B | $8.6B | ||
| Q2 24 | $26.1B | $6.8B | ||
| Q1 24 | $25.8B | $6.7B |
总资产AEPCCL
| Q4 25 | $114.5B | $51.7B | ||
| Q3 25 | $110.3B | $50.8B | ||
| Q2 25 | $107.8B | $51.2B | ||
| Q1 25 | $104.4B | $48.5B | ||
| Q4 24 | $103.1B | $49.1B | ||
| Q3 24 | $100.1B | $49.8B | ||
| Q2 24 | $99.6B | $49.6B | ||
| Q1 24 | $97.7B | $49.8B |
负债/权益比AEPCCL
| Q4 25 | 1.52× | 2.23× | ||
| Q3 25 | 1.52× | 2.28× | ||
| Q2 25 | 1.49× | 2.79× | ||
| Q1 25 | 1.57× | 3.02× | ||
| Q4 24 | 1.58× | 3.05× | ||
| Q3 24 | 1.58× | 3.45× | ||
| Q2 24 | 1.61× | 4.43× | ||
| Q1 24 | 1.54× | 4.72× |
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 | $1.8B | $1.5B |
| 自由现金流经营现金流 - 资本支出 | — | $12.0M |
| 自由现金流率自由现金流/营收 | — | 0.2% |
| 资本支出强度资本支出/营收 | — | 23.8% |
| 现金转化率经营现金流/净利润 | 3.00× | 3.61× |
| 过去12个月自由现金流最近4个季度 | — | $2.6B |
8季度趋势，按日历期对齐
经营现金流AEPCCL
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $2.5B | $1.4B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | $1.4B | $925.0M | ||
| Q4 24 | $1.7B | $911.0M | ||
| Q3 24 | $2.2B | $1.2B | ||
| Q2 24 | $1.5B | $2.0B | ||
| Q1 24 | $1.4B | $1.8B |
自由现金流AEPCCL
| Q4 25 | — | $12.0M | ||
| Q3 25 | $2.2B | $736.0M | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $318.0M | ||
| Q4 24 | — | $319.0M | ||
| Q3 24 | — | $628.0M | ||
| Q2 24 | — | $720.0M | ||
| Q1 24 | — | $-370.0M |
自由现金流率AEPCCL
| Q4 25 | — | 0.2% | ||
| Q3 25 | 36.3% | 9.0% | ||
| Q2 25 | — | 24.4% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 8.0% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | -6.8% |
资本支出强度AEPCCL
| Q4 25 | — | 23.8% | ||
| Q3 25 | 5.0% | 7.9% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 10.4% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | 0.0% | 7.3% | ||
| Q2 24 | — | 22.8% | ||
| Q1 24 | — | 39.5% |
现金转化率AEPCCL
| Q4 25 | 3.00× | 3.61× | ||
| Q3 25 | 2.46× | 0.75× | ||
| Q2 25 | 0.95× | 4.23× | ||
| Q1 25 | 1.81× | — | ||
| Q4 24 | 2.59× | 3.01× | ||
| Q3 24 | 2.26× | 0.69× | ||
| Q2 24 | 4.27× | 22.16× | ||
| Q1 24 | 1.43× | — |
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
AEP
| Transmissionand Distribution Utilities Revenues | $1.5B | 29% |
| Electric Generation Transmission Distribution Revenues | $956.6M | 19% |
| Electricity Transmission And Distribution Revenues | $931.8M | 18% |
| Industrial | $685.8M | 14% |
| Marketing Competitive Retailand Renewable | $438.3M | 9% |
| Wholesale Generation | $231.1M | 5% |
| Wholesale Transmission | $113.6M | 2% |
| Other | $110.2M | 2% |
| Electric Transmission | $103.4M | 2% |
| Other Retail | $60.1M | 1% |
CCL
| Cruise Passenger Ticket | $4.1B | 64% |
| Other | $2.2B | 34% |
| Cruise | $90.0M | 1% |
| Tour And Other | $29.0M | 0% |
