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AES Corporation（AES）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
AES Corporation的季度营收约是美泰的3.6倍（$3.1B vs $862.2M），AES Corporation净利率更高（10.3% vs 7.1%，领先3.2%），AES Corporation同比增速更快（4.7% vs 4.3%），AES Corporation自由现金流更多（$-47.0M vs $-88.1M），过去两年AES Corporation的营收复合增速更高（0.3% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
AES vs MAT — 直观对比
营收规模更大
AES
是对方的3.6倍
$862.2M
营收增速更快
AES
高出0.4%
4.3%
净利率更高
AES
高出3.2%
7.1%
自由现金流更多
AES
多$41.1M
$-88.1M
两年增速更快
AES
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $862.2M |
| 净利润 | $320.0M | $61.0M |
| 毛利率 | 18.8% | 44.9% |
| 营业利润率 | -8.7% | — |
| 净利率 | 10.3% | 7.1% |
| 营收同比 | 4.7% | 4.3% |
| 净利润同比 | -42.9% | 251.4% |
| 每股收益（稀释后） | $0.45 | $0.20 |
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AESMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $3.1B | $1.8B | ||
| Q3 25 | $3.4B | $1.7B | ||
| Q2 25 | $2.9B | $1.0B | ||
| Q1 25 | $2.9B | $826.6M | ||
| Q4 24 | $3.0B | $1.6B | ||
| Q3 24 | $3.3B | $1.8B | ||
| Q2 24 | $2.9B | $1.1B |
净利润AESMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $320.0M | $106.2M | ||
| Q3 25 | $639.0M | $278.4M | ||
| Q2 25 | $-95.0M | $53.4M | ||
| Q1 25 | $46.0M | $-40.3M | ||
| Q4 24 | $560.0M | $140.9M | ||
| Q3 24 | $502.0M | $372.4M | ||
| Q2 24 | $185.0M | $56.9M |
毛利率AESMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | 18.8% | 45.9% | ||
| Q3 25 | 21.9% | 50.0% | ||
| Q2 25 | 15.9% | 50.9% | ||
| Q1 25 | 15.1% | 49.4% | ||
| Q4 24 | 14.2% | 50.7% | ||
| Q3 24 | 22.0% | 53.1% | ||
| Q2 24 | 18.8% | 49.2% |
营业利润率AESMAT
| Q1 26 | — | — | ||
| Q4 25 | -8.7% | 8.0% | ||
| Q3 25 | 9.8% | 21.9% | ||
| Q2 25 | 1.4% | 7.7% | ||
| Q1 25 | -0.8% | -6.4% | ||
| Q4 24 | 12.3% | 9.6% | ||
| Q3 24 | 10.0% | 26.5% | ||
| Q2 24 | -2.6% | 7.7% |
净利率AESMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 10.3% | 6.0% | ||
| Q3 25 | 19.1% | 16.0% | ||
| Q2 25 | -3.3% | 5.2% | ||
| Q1 25 | 1.6% | -4.9% | ||
| Q4 24 | 18.9% | 8.6% | ||
| Q3 24 | 15.3% | 20.2% | ||
| Q2 24 | 6.3% | 5.3% |
每股收益（稀释后）AESMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.45 | $0.32 | ||
| Q3 25 | $0.89 | $0.88 | ||
| Q2 25 | $-0.15 | $0.16 | ||
| Q1 25 | $0.07 | $-0.12 | ||
| Q4 24 | $0.78 | $0.40 | ||
| Q3 24 | $0.71 | $1.09 | ||
| Q2 24 | $0.27 | $0.17 |
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 | $866.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $4.1B | $2.1B |
| 总资产 | $51.8B | $6.3B |
| 负债/权益比越低杠杆越低 | — | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资AESMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.8B | $691.9M | ||
| Q2 25 | $1.4B | $870.5M | ||
| Q1 25 | $1.8B | $1.2B | ||
| Q4 24 | $1.6B | $1.4B | ||
| Q3 24 | $2.0B | $723.5M | ||
| Q2 24 | $1.8B | $722.4M |
总债务AESMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
股东权益AESMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $4.1B | $2.2B | ||
| Q3 25 | $3.9B | $2.3B | ||
| Q2 25 | $3.4B | $2.2B | ||
| Q1 25 | $3.5B | $2.1B | ||
| Q4 24 | $3.6B | $2.3B | ||
| Q3 24 | $3.3B | $2.3B | ||
| Q2 24 | $3.1B | $2.0B |
总资产AESMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $51.8B | $6.6B | ||
| Q3 25 | $50.8B | $6.6B | ||
| Q2 25 | $48.5B | $6.2B | ||
| Q1 25 | $48.6B | $6.2B | ||
| Q4 24 | $47.4B | $6.5B | ||
| Q3 24 | $50.1B | $6.5B | ||
| Q2 24 | $47.7B | $5.9B |
负债/权益比AESMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | — | 1.04× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 1.18× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-47.0M | $-88.1M |
| 自由现金流率自由现金流/营收 | -1.5% | -10.2% |
| 资本支出强度资本支出/营收 | 49.5% | 7.6% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流AESMAT
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $796.6M | ||
| Q3 25 | $1.3B | $72.0M | ||
| Q2 25 | $976.0M | $-300.1M | ||
| Q1 25 | $545.0M | $24.8M | ||
| Q4 24 | $1.1B | $862.1M | ||
| Q3 24 | $985.0M | $155.8M | ||
| Q2 24 | $392.0M | $-252.9M |
自由现金流AESMAT
| Q1 26 | — | $-88.1M | ||
| 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 | — |
自由现金流率AESMAT
| Q1 26 | — | -10.2% | ||
| 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% | — |
资本支出强度AESMAT
| Q1 26 | — | 7.6% | ||
| 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% | — |
现金转化率AESMAT
| Q1 26 | — | — | ||
| Q4 25 | 4.65× | 7.50× | ||
| Q3 25 | 2.03× | 0.26× | ||
| Q2 25 | — | -5.62× | ||
| Q1 25 | 11.85× | — | ||
| Q4 24 | 1.94× | 6.12× | ||
| Q3 24 | 1.96× | 0.42× | ||
| Q2 24 | 2.12× | -4.45× |
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% |
MAT
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