vs
AES Corporation（AES）与Entergy（ETR）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Entergy的1.0倍（$3.1B vs $3.0B），AES Corporation净利率更高（10.3% vs 8.1%，领先2.2%），Entergy同比增速更快（7.9% vs 4.7%），AES Corporation自由现金流更多（$-47.0M vs $-909.7M），过去两年Entergy的营收复合增速更高（2.9% 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。
Entergy是美国能源企业，主营电力生产及零售配送业务，服务覆盖美国南部腹地，总部设于路易斯安那州新奥尔良。公司为阿肯色、路易斯安那、密西西比、得克萨斯四州共300万用户供电，发电装机容量约24000兆瓦，年营收110亿美元，员工规模超12000人。
AES vs ETR — 直观对比
营收规模更大
AES
是对方的1.0倍
$3.0B
营收增速更快
ETR
高出3.2%
4.7%
净利率更高
AES
高出2.2%
8.1%
自由现金流更多
AES
多$862.7M
$-909.7M
两年增速更快
ETR
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $3.0B |
| 净利润 | $320.0M | $240.5M |
| 毛利率 | 18.8% | — |
| 营业利润率 | -8.7% | 18.4% |
| 净利率 | 10.3% | 8.1% |
| 营收同比 | 4.7% | 7.9% |
| 净利润同比 | -42.9% | -16.2% |
| 每股收益（稀释后） | $0.45 | $0.51 |
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AESETR
| Q4 25 | $3.1B | $3.0B | ||
| Q3 25 | $3.4B | $3.8B | ||
| Q2 25 | $2.9B | $3.3B | ||
| Q1 25 | $2.9B | $2.8B | ||
| Q4 24 | $3.0B | $2.7B | ||
| Q3 24 | $3.3B | $3.4B | ||
| Q2 24 | $2.9B | $3.0B | ||
| Q1 24 | $3.1B | $2.8B |
净利润AESETR
| Q4 25 | $320.0M | $240.5M | ||
| Q3 25 | $639.0M | $698.4M | ||
| Q2 25 | $-95.0M | $472.0M | ||
| Q1 25 | $46.0M | $362.4M | ||
| Q4 24 | $560.0M | $287.2M | ||
| Q3 24 | $502.0M | $645.8M | ||
| Q2 24 | $185.0M | $51.7M | ||
| Q1 24 | $432.0M | $76.5M |
毛利率AESETR
| 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AESETR
| Q4 25 | -8.7% | 18.4% | ||
| Q3 25 | 9.8% | 29.4% | ||
| Q2 25 | 1.4% | 25.2% | ||
| Q1 25 | -0.8% | 24.6% | ||
| Q4 24 | 12.3% | 24.4% | ||
| Q3 24 | 10.0% | 33.2% | ||
| Q2 24 | -2.6% | 20.9% | ||
| Q1 24 | 9.0% | 8.5% |
净利率AESETR
| Q4 25 | 10.3% | 8.1% | ||
| Q3 25 | 19.1% | 18.3% | ||
| Q2 25 | -3.3% | 14.2% | ||
| Q1 25 | 1.6% | 12.7% | ||
| Q4 24 | 18.9% | 10.5% | ||
| Q3 24 | 15.3% | 19.1% | ||
| Q2 24 | 6.3% | 1.8% | ||
| Q1 24 | 14.0% | 2.7% |
每股收益（稀释后）AESETR
| Q4 25 | $0.45 | $0.51 | ||
| Q3 25 | $0.89 | $1.53 | ||
| Q2 25 | $-0.15 | $1.05 | ||
| Q1 25 | $0.07 | $0.82 | ||
| Q4 24 | $0.78 | $0.66 | ||
| Q3 24 | $0.71 | $1.50 | ||
| Q2 24 | $0.27 | $0.11 | ||
| Q1 24 | $0.60 | $0.18 |
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 | $1.9B |
| 总债务越低越好 | — | $30.3B |
| 股东权益账面价值 | $4.1B | $16.9B |
| 总资产 | $51.8B | $71.9B |
| 负债/权益比越低杠杆越低 | — | 1.79× |
8季度趋势，按日历期对齐
现金及短期投资AESETR
| Q4 25 | $1.6B | $1.9B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.8B | $1.5B | ||
| Q4 24 | $1.6B | $859.7M | ||
| Q3 24 | $2.0B | $1.4B | ||
| Q2 24 | $1.8B | $1.4B | ||
| Q1 24 | $2.4B | $1.3B |
总债务AESETR
| Q4 25 | — | $30.3B | ||
| Q3 25 | — | $29.0B | ||
| Q2 25 | — | $29.9B | ||
| Q1 25 | — | $29.6B | ||
| Q4 24 | — | $28.0B | ||
| Q3 24 | — | $27.9B | ||
| Q2 24 | — | $27.8B | ||
| Q1 24 | — | $26.5B |
股东权益AESETR
| Q4 25 | $4.1B | $16.9B | ||
| Q3 25 | $3.9B | $16.7B | ||
| Q2 25 | $3.4B | $16.2B | ||
| Q1 25 | $3.5B | $15.2B | ||
| Q4 24 | $3.6B | $15.1B | ||
| Q3 24 | $3.3B | $15.0B | ||
| Q2 24 | $3.1B | $14.6B | ||
| Q1 24 | $2.9B | $14.5B |
总资产AESETR
| Q4 25 | $51.8B | $71.9B | ||
| Q3 25 | $50.8B | $69.8B | ||
| Q2 25 | $48.5B | $68.4B | ||
| Q1 25 | $48.6B | $66.6B | ||
| Q4 24 | $47.4B | $64.8B | ||
| Q3 24 | $50.1B | $64.5B | ||
| Q2 24 | $47.7B | $62.8B | ||
| Q1 24 | $47.0B | $61.6B |
负债/权益比AESETR
| Q4 25 | — | 1.79× | ||
| Q3 25 | — | 1.74× | ||
| Q2 25 | — | 1.85× | ||
| Q1 25 | — | 1.95× | ||
| Q4 24 | — | 1.86× | ||
| Q3 24 | — | 1.85× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.83× |
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 | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $-47.0M | $-909.7M |
| 自由现金流率自由现金流/营收 | -1.5% | -30.7% |
| 资本支出强度资本支出/营收 | 49.5% | 71.9% |
| 现金转化率经营现金流/净利润 | 4.65× | 5.06× |
| 过去12个月自由现金流最近4个季度 | $-1.6B | $-2.5B |
8季度趋势，按日历期对齐
经营现金流AESETR
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.3B | $2.1B | ||
| Q2 25 | $976.0M | $1.3B | ||
| Q1 25 | $545.0M | $536.2M | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $985.0M | $1.6B | ||
| Q2 24 | $392.0M | $1.0B | ||
| Q1 24 | $287.0M | $521.1M |
自由现金流AESETR
| Q4 25 | $-47.0M | $-909.7M | ||
| Q3 25 | $-511.0M | $246.0M | ||
| Q2 25 | $-356.0M | $-746.6M | ||
| Q1 25 | $-709.0M | $-1.1B | ||
| Q4 24 | $-639.0M | $-193.8M | ||
| Q3 24 | $-847.0M | $421.8M | ||
| Q2 24 | $-1.3B | $-137.8M | ||
| Q1 24 | $-1.9B | $-440.1M |
自由现金流率AESETR
| Q4 25 | -1.5% | -30.7% | ||
| Q3 25 | -15.2% | 6.5% | ||
| Q2 25 | -12.5% | -22.4% | ||
| Q1 25 | -24.2% | -39.5% | ||
| Q4 24 | -21.6% | -7.1% | ||
| Q3 24 | -25.8% | 12.4% | ||
| Q2 24 | -43.9% | -4.7% | ||
| Q1 24 | -60.3% | -15.7% |
资本支出强度AESETR
| Q4 25 | 49.5% | 71.9% | ||
| Q3 25 | 54.0% | 49.5% | ||
| Q2 25 | 46.7% | 60.3% | ||
| Q1 25 | 42.9% | 58.3% | ||
| Q4 24 | 58.3% | 57.4% | ||
| Q3 24 | 55.7% | 33.7% | ||
| Q2 24 | 57.3% | 39.4% | ||
| Q1 24 | 69.6% | 34.4% |
现金转化率AESETR
| Q4 25 | 4.65× | 5.06× | ||
| Q3 25 | 2.03× | 3.06× | ||
| Q2 25 | — | 2.67× | ||
| Q1 25 | 11.85× | 1.48× | ||
| Q4 24 | 1.94× | 4.80× | ||
| Q3 24 | 1.96× | 2.42× | ||
| Q2 24 | 2.12× | 19.82× | ||
| Q1 24 | 0.66× | 6.81× |
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% |
ETR
| Electricity Us Regulated | $2.9B | 100% |
| Other | $13.7M | 0% |
