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AES Corporation（AES）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是AES Corporation的1.4倍（$4.5B vs $3.1B），皇家加勒比集团净利率更高（21.3% vs 10.3%，领先11.0%），皇家加勒比集团同比增速更快（11.3% vs 4.7%），过去两年皇家加勒比集团的营收复合增速更高（4.1% 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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
AES vs RCL — 直观对比
营收规模更大
RCL
是对方的1.4倍
$3.1B
营收增速更快
RCL
高出6.6%
4.7%
净利率更高
RCL
高出11.0%
10.3%
两年增速更快
RCL
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $4.5B |
| 净利润 | $320.0M | $950.0M |
| 毛利率 | 18.8% | — |
| 营业利润率 | -8.7% | 26.1% |
| 净利率 | 10.3% | 21.3% |
| 营收同比 | 4.7% | 11.3% |
| 净利润同比 | -42.9% | 29.1% |
| 每股收益（稀释后） | $0.45 | $3.48 |
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AESRCL
| Q1 26 | — | $4.5B | ||
| Q4 25 | $3.1B | $4.3B | ||
| Q3 25 | $3.4B | $5.1B | ||
| Q2 25 | $2.9B | $4.5B | ||
| Q1 25 | $2.9B | $4.0B | ||
| Q4 24 | $3.0B | $3.8B | ||
| Q3 24 | $3.3B | $4.9B | ||
| Q2 24 | $2.9B | $4.1B |
净利润AESRCL
| Q1 26 | — | $950.0M | ||
| Q4 25 | $320.0M | $753.0M | ||
| Q3 25 | $639.0M | $1.6B | ||
| Q2 25 | $-95.0M | $1.2B | ||
| Q1 25 | $46.0M | $730.0M | ||
| Q4 24 | $560.0M | $552.0M | ||
| Q3 24 | $502.0M | $1.1B | ||
| Q2 24 | $185.0M | $854.0M |
毛利率AESRCL
| Q1 26 | — | — | ||
| Q4 25 | 18.8% | 47.4% | ||
| Q3 25 | 21.9% | 51.8% | ||
| Q2 25 | 15.9% | 49.7% | ||
| Q1 25 | 15.1% | 48.0% | ||
| Q4 24 | 14.2% | 45.4% | ||
| Q3 24 | 22.0% | 51.1% | ||
| Q2 24 | 18.8% | 47.6% |
营业利润率AESRCL
| Q1 26 | — | 26.1% | ||
| Q4 25 | -8.7% | 21.9% | ||
| Q3 25 | 9.8% | 33.1% | ||
| Q2 25 | 1.4% | 29.3% | ||
| Q1 25 | -0.8% | 23.6% | ||
| Q4 24 | 12.3% | 16.6% | ||
| Q3 24 | 10.0% | 33.4% | ||
| Q2 24 | -2.6% | 26.7% |
净利率AESRCL
| Q1 26 | — | 21.3% | ||
| Q4 25 | 10.3% | 17.7% | ||
| Q3 25 | 19.1% | 30.6% | ||
| Q2 25 | -3.3% | 26.7% | ||
| Q1 25 | 1.6% | 18.3% | ||
| Q4 24 | 18.9% | 14.7% | ||
| Q3 24 | 15.3% | 22.7% | ||
| Q2 24 | 6.3% | 20.8% |
每股收益（稀释后）AESRCL
| Q1 26 | — | $3.48 | ||
| Q4 25 | $0.45 | $2.76 | ||
| Q3 25 | $0.89 | $5.74 | ||
| Q2 25 | $-0.15 | $4.41 | ||
| Q1 25 | $0.07 | $2.70 | ||
| Q4 24 | $0.78 | $2.27 | ||
| Q3 24 | $0.71 | $4.21 | ||
| Q2 24 | $0.27 | $3.11 |
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 | $512.0M |
| 总债务越低越好 | — | $21.1B |
| 股东权益账面价值 | $4.1B | $10.0B |
| 总资产 | $51.8B | $42.0B |
| 负债/权益比越低杠杆越低 | — | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资AESRCL
| Q1 26 | — | $512.0M | ||
| Q4 25 | $1.6B | $825.0M | ||
| Q3 25 | $1.8B | $432.0M | ||
| Q2 25 | $1.4B | $735.0M | ||
| Q1 25 | $1.8B | $386.0M | ||
| Q4 24 | $1.6B | $388.0M | ||
| Q3 24 | $2.0B | $418.0M | ||
| Q2 24 | $1.8B | $391.0M |
总债务AESRCL
| Q1 26 | — | $21.1B | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
股东权益AESRCL
| Q1 26 | — | $10.0B | ||
| Q4 25 | $4.1B | $10.0B | ||
| Q3 25 | $3.9B | $10.1B | ||
| Q2 25 | $3.4B | $9.2B | ||
| Q1 25 | $3.5B | $8.0B | ||
| Q4 24 | $3.6B | $7.6B | ||
| Q3 24 | $3.3B | $7.0B | ||
| Q2 24 | $3.1B | $6.0B |
总资产AESRCL
| Q1 26 | — | $42.0B | ||
| Q4 25 | $51.8B | $41.6B | ||
| Q3 25 | $50.8B | $40.1B | ||
| Q2 25 | $48.5B | $38.5B | ||
| Q1 25 | $48.6B | $37.5B | ||
| Q4 24 | $47.4B | $37.1B | ||
| Q3 24 | $50.1B | $37.1B | ||
| Q2 24 | $47.7B | $37.0B |
负债/权益比AESRCL
| Q1 26 | — | 2.11× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $1.8B |
| 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× | 1.93× |
| 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AESRCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $976.0M | $1.7B | ||
| Q1 25 | $545.0M | $1.6B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $985.0M | $897.0M | ||
| Q2 24 | $392.0M | $1.6B |
自由现金流AESRCL
| Q1 26 | — | — | ||
| Q4 25 | $-47.0M | $116.0M | ||
| Q3 25 | $-511.0M | $-989.0M | ||
| Q2 25 | $-356.0M | $910.0M | ||
| Q1 25 | $-709.0M | $1.2B | ||
| Q4 24 | $-639.0M | $915.0M | ||
| Q3 24 | $-847.0M | $563.0M | ||
| Q2 24 | $-1.3B | $-567.0M |
自由现金流率AESRCL
| Q1 26 | — | — | ||
| Q4 25 | -1.5% | 2.7% | ||
| Q3 25 | -15.2% | -19.2% | ||
| Q2 25 | -12.5% | 20.1% | ||
| Q1 25 | -24.2% | 30.0% | ||
| Q4 24 | -21.6% | 24.3% | ||
| Q3 24 | -25.8% | 11.5% | ||
| Q2 24 | -43.9% | -13.8% |
资本支出强度AESRCL
| Q1 26 | — | — | ||
| Q4 25 | 49.5% | 35.4% | ||
| Q3 25 | 54.0% | 47.8% | ||
| Q2 25 | 46.7% | 18.4% | ||
| Q1 25 | 42.9% | 10.7% | ||
| Q4 24 | 58.3% | 14.7% | ||
| Q3 24 | 55.7% | 6.8% | ||
| Q2 24 | 57.3% | 52.1% |
现金转化率AESRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 4.65× | 2.16× | ||
| Q3 25 | 2.03× | 0.93× | ||
| Q2 25 | — | 1.44× | ||
| Q1 25 | 11.85× | 2.23× | ||
| Q4 24 | 1.94× | 2.66× | ||
| Q3 24 | 1.96× | 0.81× | ||
| Q2 24 | 2.12× | 1.84× |
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% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
