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AES Corporation（AES）与Eversource Energy（ES）财务数据对比。点击上方公司名可切换其他公司
Eversource Energy的季度营收约是AES Corporation的1.1倍（$3.4B vs $3.1B），Eversource Energy净利率更高（12.6% vs 10.3%，领先2.2%），Eversource Energy同比增速更快（13.4% vs 4.7%），AES Corporation自由现金流更多（$-47.0M vs $-67.3M），过去两年Eversource Energy的营收复合增速更高（0.6% 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。
Eversource Energy是位列财富500强的上市能源企业，总部位于美国马萨诸塞州斯普林菲尔德，在康涅狄格州哈特福德、马萨诸塞州波士顿均设有办公据点，旗下多家受监管子公司为康涅狄格、马萨诸塞、新罕布什尔三州约400万用户提供零售电力、天然气及供水服务。
AES vs ES — 直观对比
营收规模更大
ES
是对方的1.1倍
$3.1B
营收增速更快
ES
高出8.7%
4.7%
净利率更高
ES
高出2.2%
10.3%
自由现金流更多
AES
多$20.3M
$-67.3M
两年增速更快
ES
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $3.4B |
| 净利润 | $320.0M | $423.2M |
| 毛利率 | 18.8% | — |
| 营业利润率 | -8.7% | 21.1% |
| 净利率 | 10.3% | 12.6% |
| 营收同比 | 4.7% | 13.4% |
| 净利润同比 | -42.9% | 468.8% |
| 每股收益（稀释后） | $0.45 | $1.11 |
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AESES
| Q4 25 | $3.1B | $3.4B | ||
| Q3 25 | $3.4B | $3.2B | ||
| Q2 25 | $2.9B | $2.8B | ||
| Q1 25 | $2.9B | $4.1B | ||
| Q4 24 | $3.0B | $3.0B | ||
| Q3 24 | $3.3B | $3.1B | ||
| Q2 24 | $2.9B | $2.5B | ||
| Q1 24 | $3.1B | $3.3B |
净利润AESES
| Q4 25 | $320.0M | $423.2M | ||
| Q3 25 | $639.0M | $369.4M | ||
| Q2 25 | $-95.0M | $354.6M | ||
| Q1 25 | $46.0M | $552.7M | ||
| Q4 24 | $560.0M | $74.4M | ||
| Q3 24 | $502.0M | $-116.2M | ||
| Q2 24 | $185.0M | $337.2M | ||
| Q1 24 | $432.0M | $523.7M |
毛利率AESES
| 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AESES
| Q4 25 | -8.7% | 21.1% | ||
| Q3 25 | 9.8% | 21.4% | ||
| Q2 25 | 1.4% | 23.4% | ||
| Q1 25 | -0.8% | 22.5% | ||
| Q4 24 | 12.3% | 11.7% | ||
| Q3 24 | 10.0% | 20.0% | ||
| Q2 24 | -2.6% | 23.8% | ||
| Q1 24 | 9.0% | 25.4% |
净利率AESES
| Q4 25 | 10.3% | 12.6% | ||
| Q3 25 | 19.1% | 11.5% | ||
| Q2 25 | -3.3% | 12.5% | ||
| Q1 25 | 1.6% | 13.4% | ||
| Q4 24 | 18.9% | 2.5% | ||
| Q3 24 | 15.3% | -3.8% | ||
| Q2 24 | 6.3% | 13.3% | ||
| Q1 24 | 14.0% | 15.7% |
每股收益（稀释后）AESES
| Q4 25 | $0.45 | $1.11 | ||
| Q3 25 | $0.89 | $0.99 | ||
| Q2 25 | $-0.15 | $0.96 | ||
| Q1 25 | $0.07 | $1.50 | ||
| Q4 24 | $0.78 | $0.16 | ||
| Q3 24 | $0.71 | $-0.33 | ||
| Q2 24 | $0.27 | $0.95 | ||
| Q1 24 | $0.60 | $1.49 |
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 | $135.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.1B | $16.2B |
| 总资产 | $51.8B | $63.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AESES
| Q4 25 | $1.6B | $135.4M | ||
| Q3 25 | $1.8B | $259.3M | ||
| Q2 25 | $1.4B | $343.7M | ||
| Q1 25 | $1.8B | $111.4M | ||
| Q4 24 | $1.6B | $26.7M | ||
| Q3 24 | $2.0B | $97.9M | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $2.4B | — |
股东权益AESES
| Q4 25 | $4.1B | $16.2B | ||
| Q3 25 | $3.9B | $16.0B | ||
| Q2 25 | $3.4B | $15.7B | ||
| Q1 25 | $3.5B | $15.3B | ||
| Q4 24 | $3.6B | $15.0B | ||
| Q3 24 | $3.3B | $15.0B | ||
| Q2 24 | $3.1B | $14.8B | ||
| Q1 24 | $2.9B | $14.5B |
总资产AESES
| Q4 25 | $51.8B | $63.8B | ||
| Q3 25 | $50.8B | $61.7B | ||
| Q2 25 | $48.5B | $61.0B | ||
| Q1 25 | $48.6B | $60.2B | ||
| Q4 24 | $47.4B | $59.6B | ||
| Q3 24 | $50.1B | $58.6B | ||
| Q2 24 | $47.7B | $58.4B | ||
| Q1 24 | $47.0B | $57.3B |
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 | $916.1M |
| 自由现金流经营现金流 - 资本支出 | $-47.0M | $-67.3M |
| 自由现金流率自由现金流/营收 | -1.5% | -2.0% |
| 资本支出强度资本支出/营收 | 49.5% | 29.2% |
| 现金转化率经营现金流/净利润 | 4.65× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $-1.6B | $-45.1M |
8季度趋势，按日历期对齐
经营现金流AESES
| Q4 25 | $1.5B | $916.1M | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $976.0M | $1.1B | ||
| Q1 25 | $545.0M | $1.0B | ||
| Q4 24 | $1.1B | $642.1M | ||
| Q3 24 | $985.0M | $555.6M | ||
| Q2 24 | $392.0M | $670.7M | ||
| Q1 24 | $287.0M | $291.3M |
自由现金流AESES
| Q4 25 | $-47.0M | $-67.3M | ||
| Q3 25 | $-511.0M | $-26.3M | ||
| Q2 25 | $-356.0M | $15.3M | ||
| Q1 25 | $-709.0M | $33.2M | ||
| Q4 24 | $-639.0M | $-546.5M | ||
| Q3 24 | $-847.0M | $-515.4M | ||
| Q2 24 | $-1.3B | $-400.8M | ||
| Q1 24 | $-1.9B | $-858.1M |
自由现金流率AESES
| Q4 25 | -1.5% | -2.0% | ||
| Q3 25 | -15.2% | -0.8% | ||
| Q2 25 | -12.5% | 0.5% | ||
| Q1 25 | -24.2% | 0.8% | ||
| Q4 24 | -21.6% | -18.4% | ||
| Q3 24 | -25.8% | -16.8% | ||
| Q2 24 | -43.9% | -15.8% | ||
| Q1 24 | -60.3% | -25.7% |
资本支出强度AESES
| Q4 25 | 49.5% | 29.2% | ||
| Q3 25 | 54.0% | 35.0% | ||
| Q2 25 | 46.7% | 36.7% | ||
| Q1 25 | 42.9% | 24.5% | ||
| Q4 24 | 58.3% | 40.0% | ||
| Q3 24 | 55.7% | 35.0% | ||
| Q2 24 | 57.3% | 42.3% | ||
| Q1 24 | 69.6% | 34.5% |
现金转化率AESES
| Q4 25 | 4.65× | 2.16× | ||
| Q3 25 | 2.03× | 2.98× | ||
| Q2 25 | — | 2.98× | ||
| Q1 25 | 11.85× | 1.88× | ||
| Q4 24 | 1.94× | 8.63× | ||
| Q3 24 | 1.96× | — | ||
| Q2 24 | 2.12× | 1.99× | ||
| Q1 24 | 0.66× | 0.56× |
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% |
ES
| Residential | $1.2B | 35% |
| Commercial | $789.0M | 23% |
| Eversource Electric Transmission | $573.8M | 17% |
| Wholesale Transmission Revenue | $570.0M | 17% |
| Industrial | $102.6M | 3% |
| Water Distribution Segment | $58.4M | 2% |
| Eversource Water | $56.3M | 2% |
| Other Revenue Adjustmentsfrom Contractswith Customers | $25.9M | 1% |
