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AES Corporation（AES）与OPAL Fuels Inc.（OPAL）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OPAL Fuels Inc.的35.1倍（$3.1B vs $88.4M）。OPAL Fuels Inc.净利率更高（18.3% vs 10.3%，领先8.0%）。OPAL Fuels Inc.同比增速更快（18.7% vs 4.7%）。OPAL Fuels Inc.自由现金流更多（$-13.4M vs $-47.0M）。过去两年OPAL Fuels Inc.的营收复合增速更高（17.6% 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。
OPAL Fuels Inc.是一家北美能源企业，专注于生产和分销低碳可再生天然气（RNG）。公司从垃圾填埋场、奶牛场等有机废物流中收集甲烷，产出的可再生天然气主要供应给重型运输车队、商业物流运营商及公共交通实体，助力降低碳排放。
AES vs OPAL — 直观对比
营收规模更大
AES
是对方的35.1倍
$88.4M
营收增速更快
OPAL
高出14.0%
4.7%
净利率更高
OPAL
高出8.0%
10.3%
自由现金流更多
OPAL
多$33.6M
$-47.0M
两年增速更快
OPAL
近两年复合增速
0.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $88.4M |
| 净利润 | $320.0M | $16.2M |
| 毛利率 | 18.8% | — |
| 营业利润率 | -8.7% | 7.5% |
| 净利率 | 10.3% | 18.3% |
| 营收同比 | 4.7% | 18.7% |
| 净利润同比 | -42.9% | 401.5% |
| 每股收益（稀释后） | $0.45 | $0.08 |
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AESOPAL
| Q4 25 | $3.1B | $88.4M | ||
| Q3 25 | $3.4B | $77.9M | ||
| Q2 25 | $2.9B | $77.4M | ||
| Q1 25 | $2.9B | $83.0M | ||
| Q4 24 | $3.0B | $74.5M | ||
| Q3 24 | $3.3B | $82.6M | ||
| Q2 24 | $2.9B | $69.8M | ||
| Q1 24 | $3.1B | $64.0M |
净利润AESOPAL
| Q4 25 | $320.0M | $16.2M | ||
| Q3 25 | $639.0M | $11.4M | ||
| Q2 25 | $-95.0M | $7.6M | ||
| Q1 25 | $46.0M | $1.3M | ||
| Q4 24 | $560.0M | $-5.4M | ||
| Q3 24 | $502.0M | $17.1M | ||
| Q2 24 | $185.0M | $1.9M | ||
| Q1 24 | $432.0M | $677.0K |
毛利率AESOPAL
| 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AESOPAL
| Q4 25 | -8.7% | 7.5% | ||
| Q3 25 | 9.8% | 4.6% | ||
| Q2 25 | 1.4% | -1.1% | ||
| Q1 25 | -0.8% | -2.3% | ||
| Q4 24 | 12.3% | -0.5% | ||
| Q3 24 | 10.0% | 14.9% | ||
| Q2 24 | -2.6% | 8.1% | ||
| Q1 24 | 9.0% | 5.6% |
净利率AESOPAL
| Q4 25 | 10.3% | 18.3% | ||
| Q3 25 | 19.1% | 14.6% | ||
| Q2 25 | -3.3% | 9.8% | ||
| Q1 25 | 1.6% | 1.5% | ||
| Q4 24 | 18.9% | -7.2% | ||
| Q3 24 | 15.3% | 20.7% | ||
| Q2 24 | 6.3% | 2.7% | ||
| Q1 24 | 14.0% | 1.1% |
每股收益（稀释后）AESOPAL
| Q4 25 | $0.45 | $0.08 | ||
| Q3 25 | $0.89 | $0.05 | ||
| Q2 25 | $-0.15 | $0.03 | ||
| Q1 25 | $0.07 | $-0.01 | ||
| Q4 24 | $0.78 | $-0.05 | ||
| Q3 24 | $0.71 | $0.09 | ||
| Q2 24 | $0.27 | $-0.01 | ||
| Q1 24 | $0.60 | $-0.01 |
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 | $24.4M |
| 总债务越低越好 | — | $361.3M |
| 股东权益账面价值 | $4.1B | $-12.9M |
| 总资产 | $51.8B | $959.5M |
| 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AESOPAL
| Q4 25 | $1.6B | $24.4M | ||
| Q3 25 | $1.8B | $29.9M | ||
| Q2 25 | $1.4B | $29.3M | ||
| Q1 25 | $1.8B | $40.1M | ||
| Q4 24 | $1.6B | $24.3M | ||
| Q3 24 | $2.0B | $31.0M | ||
| Q2 24 | $1.8B | $27.6M | ||
| Q1 24 | $2.4B | $34.2M |
总债务AESOPAL
| Q4 25 | — | $361.3M | ||
| Q3 25 | — | $351.2M | ||
| Q2 25 | — | $331.6M | ||
| Q1 25 | — | $307.0M | ||
| Q4 24 | — | $307.5M | ||
| Q3 24 | — | $252.9M | ||
| Q2 24 | — | $233.3M | ||
| Q1 24 | — | $208.7M |
股东权益AESOPAL
| Q4 25 | $4.1B | $-12.9M | ||
| Q3 25 | $3.9B | $7.5M | ||
| Q2 25 | $3.4B | $-25.0M | ||
| Q1 25 | $3.5B | $57.1M | ||
| Q4 24 | $3.6B | $-148.4M | ||
| Q3 24 | $3.3B | $-180.1M | ||
| Q2 24 | $3.1B | $-273.0M | ||
| Q1 24 | $2.9B | $-382.4M |
总资产AESOPAL
| Q4 25 | $51.8B | $959.5M | ||
| Q3 25 | $50.8B | $916.7M | ||
| Q2 25 | $48.5B | $905.5M | ||
| Q1 25 | $48.6B | $884.9M | ||
| Q4 24 | $47.4B | $881.1M | ||
| Q3 24 | $50.1B | $831.1M | ||
| Q2 24 | $47.7B | $782.3M | ||
| Q1 24 | $47.0B | $750.5M |
负债/权益比AESOPAL
| Q4 25 | — | — | ||
| Q3 25 | — | 46.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.38× | ||
| Q4 24 | — | — | ||
| 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 | $-3.5M |
| 自由现金流经营现金流 - 资本支出 | $-47.0M | $-13.4M |
| 自由现金流率自由现金流/营收 | -1.5% | -15.1% |
| 资本支出强度资本支出/营收 | 49.5% | 11.1% |
| 现金转化率经营现金流/净利润 | 4.65× | -0.22× |
| 过去12个月自由现金流最近4个季度 | $-1.6B | $-34.2M |
8季度趋势，按日历期对齐
经营现金流AESOPAL
| Q4 25 | $1.5B | $-3.5M | ||
| Q3 25 | $1.3B | $18.2M | ||
| Q2 25 | $976.0M | $-7.9M | ||
| Q1 25 | $545.0M | $29.7M | ||
| Q4 24 | $1.1B | $-532.0K | ||
| Q3 24 | $985.0M | $17.7M | ||
| Q2 24 | $392.0M | $533.0K | ||
| Q1 24 | $287.0M | $13.7M |
自由现金流AESOPAL
| Q4 25 | $-47.0M | $-13.4M | ||
| Q3 25 | $-511.0M | $-9.3M | ||
| Q2 25 | $-356.0M | $-29.7M | ||
| Q1 25 | $-709.0M | $18.1M | ||
| Q4 24 | $-639.0M | $-55.0M | ||
| Q3 24 | $-847.0M | $-5.4M | ||
| Q2 24 | $-1.3B | $-22.5M | ||
| Q1 24 | $-1.9B | $-13.0M |
自由现金流率AESOPAL
| Q4 25 | -1.5% | -15.1% | ||
| Q3 25 | -15.2% | -11.9% | ||
| Q2 25 | -12.5% | -38.4% | ||
| Q1 25 | -24.2% | 21.8% | ||
| Q4 24 | -21.6% | -73.8% | ||
| Q3 24 | -25.8% | -6.5% | ||
| Q2 24 | -43.9% | -32.2% | ||
| Q1 24 | -60.3% | -20.4% |
资本支出强度AESOPAL
| Q4 25 | 49.5% | 11.1% | ||
| Q3 25 | 54.0% | 35.3% | ||
| Q2 25 | 46.7% | 28.2% | ||
| Q1 25 | 42.9% | 13.9% | ||
| Q4 24 | 58.3% | 73.1% | ||
| Q3 24 | 55.7% | 27.9% | ||
| Q2 24 | 57.3% | 32.9% | ||
| Q1 24 | 69.6% | 41.8% |
现金转化率AESOPAL
| Q4 25 | 4.65× | -0.22× | ||
| Q3 25 | 2.03× | 1.60× | ||
| Q2 25 | — | -1.04× | ||
| Q1 25 | 11.85× | 23.11× | ||
| Q4 24 | 1.94× | — | ||
| Q3 24 | 1.96× | 1.03× | ||
| Q2 24 | 2.12× | 0.28× | ||
| Q1 24 | 0.66× | 20.26× |
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% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
