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AES Corporation（AES）与联合爱迪生（ED）财务数据对比。点击上方公司名可切换其他公司
联合爱迪生的季度营收约是AES Corporation的1.3倍（$4.0B vs $3.1B）。AES Corporation净利率更高（10.3% vs 7.5%，领先2.8%）。联合爱迪生同比增速更快（8.2% vs 4.7%）。过去两年AES Corporation的营收复合增速更高（0.3% vs -3.7%）
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。
联合爱迪生（常简称ConEd）是总部位于美国纽约市的能源企业，也是美国规模最大的投资者所有能源公司之一。截至2024年，集团年营收约152.6亿美元，总资产超700亿美元，通过旗下子公司纽约联合爱迪生公司为客户提供多元能源相关产品及服务。
AES vs ED — 直观对比
营收规模更大
ED
是对方的1.3倍
$3.1B
营收增速更快
ED
高出3.5%
4.7%
净利率更高
AES
高出2.8%
7.5%
两年增速更快
AES
近两年复合增速
-3.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $4.0B |
| 净利润 | $320.0M | $298.0M |
| 毛利率 | 18.8% | — |
| 营业利润率 | -8.7% | 12.3% |
| 净利率 | 10.3% | 7.5% |
| 营收同比 | 4.7% | 8.2% |
| 净利润同比 | -42.9% | -3.9% |
| 每股收益（稀释后） | $0.45 | $0.81 |
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AESED
| Q4 25 | $3.1B | $4.0B | ||
| Q3 25 | $3.4B | $4.6B | ||
| Q2 25 | $2.9B | $3.6B | ||
| Q1 25 | $2.9B | $4.9B | ||
| Q4 24 | $3.0B | $3.7B | ||
| Q3 24 | $3.3B | $4.2B | ||
| Q2 24 | $2.9B | $3.3B | ||
| Q1 24 | $3.1B | $4.3B |
净利润AESED
| Q4 25 | $320.0M | $298.0M | ||
| Q3 25 | $639.0M | $688.0M | ||
| Q2 25 | $-95.0M | $246.0M | ||
| Q1 25 | $46.0M | $791.0M | ||
| Q4 24 | $560.0M | $310.0M | ||
| Q3 24 | $502.0M | $588.0M | ||
| Q2 24 | $185.0M | $202.0M | ||
| Q1 24 | $432.0M | $720.0M |
毛利率AESED
| 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AESED
| Q4 25 | -8.7% | 12.3% | ||
| Q3 25 | 9.8% | 21.2% | ||
| Q2 25 | 1.4% | 9.8% | ||
| Q1 25 | -0.8% | 23.0% | ||
| Q4 24 | 12.3% | 13.0% | ||
| Q3 24 | 10.0% | 20.4% | ||
| Q2 24 | -2.6% | 9.7% | ||
| Q1 24 | 9.0% | 23.6% |
净利率AESED
| Q4 25 | 10.3% | 7.5% | ||
| Q3 25 | 19.1% | 15.1% | ||
| Q2 25 | -3.3% | 6.8% | ||
| Q1 25 | 1.6% | 16.2% | ||
| Q4 24 | 18.9% | 8.5% | ||
| Q3 24 | 15.3% | 13.9% | ||
| Q2 24 | 6.3% | 6.1% | ||
| Q1 24 | 14.0% | 16.8% |
每股收益（稀释后）AESED
| Q4 25 | $0.45 | $0.81 | ||
| Q3 25 | $0.89 | $1.90 | ||
| Q2 25 | $-0.15 | $0.68 | ||
| Q1 25 | $0.07 | $2.25 | ||
| Q4 24 | $0.78 | $0.89 | ||
| Q3 24 | $0.71 | $1.69 | ||
| Q2 24 | $0.27 | $0.58 | ||
| Q1 24 | $0.60 | $2.08 |
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 | $1.6B |
| 总债务越低越好 | — | $25.8B |
| 股东权益账面价值 | $4.1B | $24.2B |
| 总资产 | $51.8B | $74.6B |
| 负债/权益比越低杠杆越低 | — | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资AESED
| Q4 25 | $1.6B | $1.6B | ||
| Q3 25 | $1.8B | $181.0M | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.8B | $360.0M | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $2.0B | $93.0M | ||
| Q2 24 | $1.8B | $1.5B | ||
| Q1 24 | $2.4B | $169.0M |
总债务AESED
| Q4 25 | — | $25.8B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $24.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AESED
| Q4 25 | $4.1B | $24.2B | ||
| Q3 25 | $3.9B | $24.2B | ||
| Q2 25 | $3.4B | $23.8B | ||
| Q1 25 | $3.5B | $23.8B | ||
| Q4 24 | $3.6B | $22.0B | ||
| Q3 24 | $3.3B | $21.9B | ||
| Q2 24 | $3.1B | $21.6B | ||
| Q1 24 | $2.9B | $21.6B |
总资产AESED
| Q4 25 | $51.8B | $74.6B | ||
| Q3 25 | $50.8B | $71.8B | ||
| Q2 25 | $48.5B | $71.5B | ||
| Q1 25 | $48.6B | $70.7B | ||
| Q4 24 | $47.4B | $70.6B | ||
| Q3 24 | $50.1B | $68.6B | ||
| Q2 24 | $47.7B | $67.9B | ||
| Q1 24 | $47.0B | $66.7B |
负债/权益比AESED
| Q4 25 | — | 1.07× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $1.5B | $1.5B |
| 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× | 4.97× |
| 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AESED
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.3B | $504.0M | ||
| Q2 25 | $976.0M | $2.0B | ||
| Q1 25 | $545.0M | $837.0M | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $985.0M | $392.0M | ||
| Q2 24 | $392.0M | $1.3B | ||
| Q1 24 | $287.0M | $573.0M |
自由现金流AESED
| 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AESED
| 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AESED
| 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AESED
| Q4 25 | 4.65× | 4.97× | ||
| Q3 25 | 2.03× | 0.73× | ||
| Q2 25 | — | 8.04× | ||
| Q1 25 | 11.85× | 1.06× | ||
| Q4 24 | 1.94× | 4.23× | ||
| Q3 24 | 1.96× | 0.67× | ||
| Q2 24 | 2.12× | 6.63× | ||
| Q1 24 | 0.66× | 0.80× |
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% |
ED
| Electricity | $2.9B | 73% |
| Oil And Gas Purchased | $923.0M | 23% |
| Steam Plant | $189.0M | 5% |
| Con Edison Transmission | $1.0M | 0% |
