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AES Corporation（AES）与APA Corporation（APA）财务数据对比。点击上方公司名可切换其他公司
AES Corporation的季度营收约是APA Corporation的1.4倍（$3.1B vs $2.2B），APA Corporation净利率更高（15.0% vs 10.3%，领先4.7%），AES Corporation同比增速更快（4.7% vs -24.3%），过去两年APA Corporation的营收复合增速更高（1.4% vs 0.3%）
AES公司是美国知名公用事业及发电企业，总部位于弗吉尼亚州阿灵顿，位列《财富》全球500强。集团在全球15个国家运营电力生产及分销业务，持有并运营多座发电厂，向终端用户、公用事业机构、工业设施等客户售电，全球员工总数达10500人。
APA Corporation是美国能源企业阿帕奇公司的控股主体，主要从事碳氢化合物资源勘探相关业务，在特拉华州注册成立，总部位于得克萨斯州休斯敦，是北美地区拥有丰富项目经验的能源勘探运营企业。
AES vs APA — 直观对比
营收规模更大
AES
是对方的1.4倍
$2.2B
营收增速更快
AES
高出29.0%
-24.3%
净利率更高
APA
高出4.7%
10.3%
两年增速更快
APA
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $2.2B |
| 净利润 | $320.0M | $331.0M |
| 毛利率 | 18.8% | — |
| 营业利润率 | -8.7% | 32.5% |
| 净利率 | 10.3% | 15.0% |
| 营收同比 | 4.7% | -24.3% |
| 净利润同比 | -42.9% | -22.1% |
| 每股收益（稀释后） | $0.45 | $0.79 |
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AESAPA
| Q4 25 | $3.1B | $2.2B | ||
| Q3 25 | $3.4B | $2.3B | ||
| Q2 25 | $2.9B | $2.3B | ||
| Q1 25 | $2.9B | $2.7B | ||
| Q4 24 | $3.0B | $2.9B | ||
| Q3 24 | $3.3B | $2.7B | ||
| Q2 24 | $2.9B | $2.8B | ||
| Q1 24 | $3.1B | $2.1B |
净利润AESAPA
| Q4 25 | $320.0M | $331.0M | ||
| Q3 25 | $639.0M | $205.0M | ||
| Q2 25 | $-95.0M | $603.0M | ||
| Q1 25 | $46.0M | $418.0M | ||
| Q4 24 | $560.0M | $425.0M | ||
| Q3 24 | $502.0M | $-223.0M | ||
| Q2 24 | $185.0M | $541.0M | ||
| Q1 24 | $432.0M | $212.0M |
毛利率AESAPA
| Q4 25 | 18.8% | — | ||
| Q3 25 | 21.9% | — | ||
| Q2 25 | 15.9% | — | ||
| Q1 25 | 15.1% | — | ||
| Q4 24 | 14.2% | — | ||
| Q3 24 | 22.0% | — | ||
| Q2 24 | 18.8% | — | ||
| Q1 24 | 20.1% | — |
营业利润率AESAPA
| Q4 25 | -8.7% | 32.5% | ||
| Q3 25 | 9.8% | 33.7% | ||
| Q2 25 | 1.4% | 31.8% | ||
| Q1 25 | -0.8% | 31.9% | ||
| Q4 24 | 12.3% | 31.4% | ||
| Q3 24 | 10.0% | -5.2% | ||
| Q2 24 | -2.6% | 34.4% | ||
| Q1 24 | 9.0% | 32.2% |
净利率AESAPA
| Q4 25 | 10.3% | 15.0% | ||
| Q3 25 | 19.1% | 9.0% | ||
| Q2 25 | -3.3% | 26.0% | ||
| Q1 25 | 1.6% | 15.4% | ||
| Q4 24 | 18.9% | 14.6% | ||
| Q3 24 | 15.3% | -8.1% | ||
| Q2 24 | 6.3% | 19.0% | ||
| Q1 24 | 14.0% | 9.9% |
每股收益（稀释后）AESAPA
| Q4 25 | $0.45 | $0.79 | ||
| Q3 25 | $0.89 | $0.57 | ||
| Q2 25 | $-0.15 | $1.67 | ||
| Q1 25 | $0.07 | $0.96 | ||
| Q4 24 | $0.78 | $0.97 | ||
| Q3 24 | $0.71 | $-0.60 | ||
| Q2 24 | $0.27 | $1.46 | ||
| Q1 24 | $0.60 | $0.44 |
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 | $1.6B | $516.0M |
| 总债务越低越好 | — | $4.3B |
| 股东权益账面价值 | $4.1B | $6.1B |
| 总资产 | $51.8B | $17.8B |
| 负债/权益比越低杠杆越低 | — | 0.70× |
8季度趋势，按日历期对齐
现金及短期投资AESAPA
| Q4 25 | $1.6B | $516.0M | ||
| Q3 25 | $1.8B | $475.0M | ||
| Q2 25 | $1.4B | $107.0M | ||
| Q1 25 | $1.8B | $67.0M | ||
| Q4 24 | $1.6B | $625.0M | ||
| Q3 24 | $2.0B | $64.0M | ||
| Q2 24 | $1.8B | $160.0M | ||
| Q1 24 | $2.4B | $102.0M |
总债务AESAPA
| Q4 25 | — | $4.3B | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $5.2B | ||
| Q4 24 | — | $6.0B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.7B | ||
| Q1 24 | — | $5.2B |
股东权益AESAPA
| Q4 25 | $4.1B | $6.1B | ||
| Q3 25 | $3.9B | $6.0B | ||
| Q2 25 | $3.4B | $5.9B | ||
| Q1 25 | $3.5B | $5.4B | ||
| Q4 24 | $3.6B | $5.3B | ||
| Q3 24 | $3.3B | $5.1B | ||
| Q2 24 | $3.1B | $5.4B | ||
| Q1 24 | $2.9B | $2.6B |
总资产AESAPA
| Q4 25 | $51.8B | $17.8B | ||
| Q3 25 | $50.8B | $17.7B | ||
| Q2 25 | $48.5B | $18.1B | ||
| Q1 25 | $48.6B | $18.5B | ||
| Q4 24 | $47.4B | $19.4B | ||
| Q3 24 | $50.1B | $19.4B | ||
| Q2 24 | $47.7B | $20.2B | ||
| Q1 24 | $47.0B | $15.0B |
负债/权益比AESAPA
| Q4 25 | — | 0.70× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.96× | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | — | 1.24× | ||
| Q1 24 | — | 1.99× |
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 | $1.5B | $808.0M |
| 自由现金流经营现金流 - 资本支出 | $-47.0M | — |
| 自由现金流率自由现金流/营收 | -1.5% | — |
| 资本支出强度资本支出/营收 | 49.5% | — |
| 现金转化率经营现金流/净利润 | 4.65× | 2.44× |
| 过去12个月自由现金流最近4个季度 | $-1.6B | — |
8季度趋势，按日历期对齐
经营现金流AESAPA
| Q4 25 | $1.5B | $808.0M | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $976.0M | $1.2B | ||
| Q1 25 | $545.0M | $1.1B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $985.0M | $1.3B | ||
| Q2 24 | $392.0M | $877.0M | ||
| Q1 24 | $287.0M | $368.0M |
自由现金流AESAPA
| Q4 25 | $-47.0M | — | ||
| Q3 25 | $-511.0M | — | ||
| Q2 25 | $-356.0M | — | ||
| Q1 25 | $-709.0M | — | ||
| Q4 24 | $-639.0M | — | ||
| Q3 24 | $-847.0M | — | ||
| Q2 24 | $-1.3B | — | ||
| Q1 24 | $-1.9B | — |
自由现金流率AESAPA
| Q4 25 | -1.5% | — | ||
| Q3 25 | -15.2% | — | ||
| Q2 25 | -12.5% | — | ||
| Q1 25 | -24.2% | — | ||
| Q4 24 | -21.6% | — | ||
| Q3 24 | -25.8% | — | ||
| Q2 24 | -43.9% | — | ||
| Q1 24 | -60.3% | — |
资本支出强度AESAPA
| Q4 25 | 49.5% | — | ||
| Q3 25 | 54.0% | — | ||
| Q2 25 | 46.7% | — | ||
| Q1 25 | 42.9% | — | ||
| Q4 24 | 58.3% | — | ||
| Q3 24 | 55.7% | — | ||
| Q2 24 | 57.3% | — | ||
| Q1 24 | 69.6% | — |
现金转化率AESAPA
| Q4 25 | 4.65× | 2.44× | ||
| Q3 25 | 2.03× | 7.12× | ||
| Q2 25 | — | 1.96× | ||
| Q1 25 | 11.85× | 2.62× | ||
| Q4 24 | 1.94× | 2.44× | ||
| Q3 24 | 1.96× | — | ||
| Q2 24 | 2.12× | 1.62× | ||
| Q1 24 | 0.66× | 1.74× |
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
AES
| Electric Distribution | $1.0B | 33% |
| Regulated Revenue | $1.0B | 33% |
| Renewables | $786.0M | 25% |
| AES Andes | $225.0M | 7% |
| Corporate Other And Other | $38.0M | 1% |
| Other Expense | $10.0M | 0% |
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
