vs
AES Corporation（AES）与戴德梁行（CWK）财务数据对比。点击上方公司名可切换其他公司
AES Corporation的季度营收约是戴德梁行的1.1倍（$3.1B vs $2.9B），AES Corporation净利率更高（10.3% vs -0.8%，领先11.1%），戴德梁行同比增速更快（10.8% vs 4.7%），戴德梁行自由现金流更多（$234.3M vs $-47.0M），过去两年戴德梁行的营收复合增速更高（15.5% 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。
戴德梁行是全球化的商业地产及物业管理服务提供商，总部位于美国伊利诺伊州芝加哥，由联合创始人J·克莱兹代尔·库什曼和伯纳德·韦克菲尔德共同创立，在全球商业地产服务领域拥有广泛的业务布局与专业服务能力，为各类客户提供定制化的地产相关解决方案。
AES vs CWK — 直观对比
营收规模更大
AES
是对方的1.1倍
$2.9B
营收增速更快
CWK
高出6.1%
4.7%
净利率更高
AES
高出11.1%
-0.8%
自由现金流更多
CWK
多$281.3M
$-47.0M
两年增速更快
CWK
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $2.9B |
| 净利润 | $320.0M | $-22.4M |
| 毛利率 | 18.8% | — |
| 营业利润率 | -8.7% | 6.1% |
| 净利率 | 10.3% | -0.8% |
| 营收同比 | 4.7% | 10.8% |
| 净利润同比 | -42.9% | -119.8% |
| 每股收益（稀释后） | $0.45 | $-0.10 |
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AESCWK
| Q4 25 | $3.1B | $2.9B | ||
| Q3 25 | $3.4B | $2.6B | ||
| Q2 25 | $2.9B | $2.5B | ||
| Q1 25 | $2.9B | $2.3B | ||
| Q4 24 | $3.0B | $2.6B | ||
| Q3 24 | $3.3B | $2.3B | ||
| Q2 24 | $2.9B | $2.3B | ||
| Q1 24 | $3.1B | $2.2B |
净利润AESCWK
| Q4 25 | $320.0M | $-22.4M | ||
| Q3 25 | $639.0M | $51.4M | ||
| Q2 25 | $-95.0M | $57.3M | ||
| Q1 25 | $46.0M | $1.9M | ||
| Q4 24 | $560.0M | $112.9M | ||
| Q3 24 | $502.0M | $33.7M | ||
| Q2 24 | $185.0M | $13.5M | ||
| Q1 24 | $432.0M | $-28.8M |
毛利率AESCWK
| 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AESCWK
| Q4 25 | -8.7% | 6.1% | ||
| Q3 25 | 9.8% | 4.1% | ||
| Q2 25 | 1.4% | 4.9% | ||
| Q1 25 | -0.8% | 2.0% | ||
| Q4 24 | 12.3% | 6.6% | ||
| Q3 24 | 10.0% | 3.2% | ||
| Q2 24 | -2.6% | 3.1% | ||
| Q1 24 | 9.0% | 0.9% |
净利率AESCWK
| Q4 25 | 10.3% | -0.8% | ||
| Q3 25 | 19.1% | 2.0% | ||
| Q2 25 | -3.3% | 2.3% | ||
| Q1 25 | 1.6% | 0.1% | ||
| Q4 24 | 18.9% | 4.3% | ||
| Q3 24 | 15.3% | 1.4% | ||
| Q2 24 | 6.3% | 0.6% | ||
| Q1 24 | 14.0% | -1.3% |
每股收益（稀释后）AESCWK
| Q4 25 | $0.45 | $-0.10 | ||
| Q3 25 | $0.89 | $0.22 | ||
| Q2 25 | $-0.15 | $0.25 | ||
| Q1 25 | $0.07 | $0.01 | ||
| Q4 24 | $0.78 | $0.49 | ||
| Q3 24 | $0.71 | $0.14 | ||
| Q2 24 | $0.27 | $0.06 | ||
| Q1 24 | $0.60 | $-0.13 |
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 | $784.2M |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $4.1B | $2.0B |
| 总资产 | $51.8B | $7.7B |
| 负债/权益比越低杠杆越低 | — | 1.40× |
8季度趋势，按日历期对齐
现金及短期投资AESCWK
| Q4 25 | $1.6B | $784.2M | ||
| Q3 25 | $1.8B | $634.4M | ||
| Q2 25 | $1.4B | $618.2M | ||
| Q1 25 | $1.8B | $623.2M | ||
| Q4 24 | $1.6B | $793.3M | ||
| Q3 24 | $2.0B | $775.4M | ||
| Q2 24 | $1.8B | $567.3M | ||
| Q1 24 | $2.4B | $553.5M |
总债务AESCWK
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.1B | ||
| Q1 24 | — | $3.2B |
股东权益AESCWK
| Q4 25 | $4.1B | $2.0B | ||
| Q3 25 | $3.9B | $2.0B | ||
| Q2 25 | $3.4B | $1.9B | ||
| Q1 25 | $3.5B | $1.8B | ||
| Q4 24 | $3.6B | $1.8B | ||
| Q3 24 | $3.3B | $1.7B | ||
| Q2 24 | $3.1B | $1.6B | ||
| Q1 24 | $2.9B | $1.6B |
总资产AESCWK
| Q4 25 | $51.8B | $7.7B | ||
| Q3 25 | $50.8B | $7.7B | ||
| Q2 25 | $48.5B | $7.6B | ||
| Q1 25 | $48.6B | $7.4B | ||
| Q4 24 | $47.4B | $7.5B | ||
| Q3 24 | $50.1B | $7.5B | ||
| Q2 24 | $47.7B | $7.3B | ||
| Q1 24 | $47.0B | $7.5B |
负债/权益比AESCWK
| Q4 25 | — | 1.40× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.70× | ||
| Q4 24 | — | 1.73× | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.96× |
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 | $257.3M |
| 自由现金流经营现金流 - 资本支出 | $-47.0M | $234.3M |
| 自由现金流率自由现金流/营收 | -1.5% | 8.0% |
| 资本支出强度资本支出/营收 | 49.5% | 0.8% |
| 现金转化率经营现金流/净利润 | 4.65× | — |
| 过去12个月自由现金流最近4个季度 | $-1.6B | $293.0M |
8季度趋势，按日历期对齐
经营现金流AESCWK
| Q4 25 | $1.5B | $257.3M | ||
| Q3 25 | $1.3B | $235.5M | ||
| Q2 25 | $976.0M | $9.6M | ||
| Q1 25 | $545.0M | $-162.0M | ||
| Q4 24 | $1.1B | $115.2M | ||
| Q3 24 | $985.0M | $196.1M | ||
| Q2 24 | $392.0M | $21.8M | ||
| Q1 24 | $287.0M | $-125.1M |
自由现金流AESCWK
| Q4 25 | $-47.0M | $234.3M | ||
| Q3 25 | $-511.0M | $225.0M | ||
| Q2 25 | $-356.0M | $300.0K | ||
| Q1 25 | $-709.0M | $-166.6M | ||
| Q4 24 | $-639.0M | $105.9M | ||
| Q3 24 | $-847.0M | $186.7M | ||
| Q2 24 | $-1.3B | $10.0M | ||
| Q1 24 | $-1.9B | $-135.6M |
自由现金流率AESCWK
| Q4 25 | -1.5% | 8.0% | ||
| Q3 25 | -15.2% | 8.6% | ||
| Q2 25 | -12.5% | 0.0% | ||
| Q1 25 | -24.2% | -7.3% | ||
| Q4 24 | -21.6% | 4.0% | ||
| Q3 24 | -25.8% | 8.0% | ||
| Q2 24 | -43.9% | 0.4% | ||
| Q1 24 | -60.3% | -6.2% |
资本支出强度AESCWK
| Q4 25 | 49.5% | 0.8% | ||
| Q3 25 | 54.0% | 0.4% | ||
| Q2 25 | 46.7% | 0.4% | ||
| Q1 25 | 42.9% | 0.2% | ||
| Q4 24 | 58.3% | 0.4% | ||
| Q3 24 | 55.7% | 0.4% | ||
| Q2 24 | 57.3% | 0.5% | ||
| Q1 24 | 69.6% | 0.5% |
现金转化率AESCWK
| Q4 25 | 4.65× | — | ||
| Q3 25 | 2.03× | 4.58× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | 11.85× | -85.26× | ||
| Q4 24 | 1.94× | 1.02× | ||
| Q3 24 | 1.96× | 5.82× | ||
| Q2 24 | 2.12× | 1.61× | ||
| Q1 24 | 0.66× | — |
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% |
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
