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AES Corporation（AES）与WEC Energy Group（WEC）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WEC Energy Group的1.2倍（$3.1B vs $2.5B），WEC Energy Group净利率更高（12.5% vs 10.3%，领先2.2%），WEC Energy Group同比增速更快（11.1% vs 4.7%），过去两年AES Corporation的营收复合增速更高（0.3% vs -2.7%）
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。
WEC能源集团是总部位于美国威斯康星州密尔沃基的知名能源企业，业务覆盖美国四个州，为总计440万用户提供可靠的电力及天然气供应服务，是北美地区颇具规模的区域性能源服务商。
AES vs WEC — 直观对比
营收规模更大
AES
是对方的1.2倍
$2.5B
营收增速更快
WEC
高出6.4%
4.7%
净利率更高
WEC
高出2.2%
10.3%
两年增速更快
AES
近两年复合增速
-2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $2.5B |
| 净利润 | $320.0M | $316.8M |
| 毛利率 | 18.8% | 63.7% |
| 营业利润率 | -8.7% | 17.9% |
| 净利率 | 10.3% | 12.5% |
| 营收同比 | 4.7% | 11.1% |
| 净利润同比 | -42.9% | -30.1% |
| 每股收益（稀释后） | $0.45 | — |
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AESWEC
| Q4 25 | $3.1B | $2.5B | ||
| Q3 25 | $3.4B | $2.1B | ||
| Q2 25 | $2.9B | $2.0B | ||
| Q1 25 | $2.9B | $3.1B | ||
| Q4 24 | $3.0B | $2.3B | ||
| Q3 24 | $3.3B | $1.9B | ||
| Q2 24 | $2.9B | $1.8B | ||
| Q1 24 | $3.1B | $2.7B |
净利润AESWEC
| Q4 25 | $320.0M | $316.8M | ||
| Q3 25 | $639.0M | $270.2M | ||
| Q2 25 | $-95.0M | $243.0M | ||
| Q1 25 | $46.0M | $725.5M | ||
| Q4 24 | $560.0M | $453.1M | ||
| Q3 24 | $502.0M | $238.6M | ||
| Q2 24 | $185.0M | $210.0M | ||
| Q1 24 | $432.0M | $622.6M |
毛利率AESWEC
| Q4 25 | 18.8% | 63.7% | ||
| Q3 25 | 21.9% | 71.1% | ||
| Q2 25 | 15.9% | 71.6% | ||
| Q1 25 | 15.1% | 63.0% | ||
| Q4 24 | 14.2% | 67.7% | ||
| Q3 24 | 22.0% | 72.1% | ||
| Q2 24 | 18.8% | 73.5% | ||
| Q1 24 | 20.1% | 65.4% |
营业利润率AESWEC
| Q4 25 | -8.7% | 17.9% | ||
| Q3 25 | 9.8% | 21.4% | ||
| Q2 25 | 1.4% | 20.1% | ||
| Q1 25 | -0.8% | 29.8% | ||
| Q4 24 | 12.3% | 25.9% | ||
| Q3 24 | 10.0% | 20.6% | ||
| Q2 24 | -2.6% | 20.6% | ||
| Q1 24 | 9.0% | 30.3% |
净利率AESWEC
| Q4 25 | 10.3% | 12.5% | ||
| Q3 25 | 19.1% | 12.8% | ||
| Q2 25 | -3.3% | 12.1% | ||
| Q1 25 | 1.6% | 23.0% | ||
| Q4 24 | 18.9% | 19.8% | ||
| Q3 24 | 15.3% | 12.8% | ||
| Q2 24 | 6.3% | 11.9% | ||
| Q1 24 | 14.0% | 23.2% |
每股收益（稀释后）AESWEC
| Q4 25 | $0.45 | — | ||
| Q3 25 | $0.89 | — | ||
| Q2 25 | $-0.15 | — | ||
| Q1 25 | $0.07 | — | ||
| Q4 24 | $0.78 | — | ||
| Q3 24 | $0.71 | — | ||
| Q2 24 | $0.27 | — | ||
| Q1 24 | $0.60 | — |
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 | $27.6M |
| 总债务越低越好 | — | $20.0B |
| 股东权益账面价值 | $4.1B | $14.1B |
| 总资产 | $51.8B | $51.5B |
| 负债/权益比越低杠杆越低 | — | 1.42× |
8季度趋势，按日历期对齐
现金及短期投资AESWEC
| Q4 25 | $1.6B | $27.6M | ||
| Q3 25 | $1.8B | $51.1M | ||
| Q2 25 | $1.4B | $23.0M | ||
| Q1 25 | $1.8B | $82.2M | ||
| Q4 24 | $1.6B | $9.8M | ||
| Q3 24 | $2.0B | $322.5M | ||
| Q2 24 | $1.8B | $224.0M | ||
| Q1 24 | $2.4B | $38.9M |
总债务AESWEC
| Q4 25 | — | $20.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $18.9B | ||
| Q3 24 | — | $16.9B | ||
| Q2 24 | — | $16.9B | ||
| Q1 24 | — | $15.4B |
股东权益AESWEC
| Q4 25 | $4.1B | $14.1B | ||
| Q3 25 | $3.9B | $14.0B | ||
| Q2 25 | $3.4B | $13.7B | ||
| Q1 25 | $3.5B | $13.4B | ||
| Q4 24 | $3.6B | $12.8B | ||
| Q3 24 | $3.3B | $12.4B | ||
| Q2 24 | $3.1B | $12.4B | ||
| Q1 24 | $2.9B | $12.4B |
总资产AESWEC
| Q4 25 | $51.8B | $51.5B | ||
| Q3 25 | $50.8B | $49.8B | ||
| Q2 25 | $48.5B | $48.5B | ||
| Q1 25 | $48.6B | $48.2B | ||
| Q4 24 | $47.4B | $47.4B | ||
| Q3 24 | $50.1B | $45.2B | ||
| Q2 24 | $47.7B | $44.6B | ||
| Q1 24 | $47.0B | $43.9B |
负债/权益比AESWEC
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | — | 1.24× |
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 | $424.6M |
| 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× | 1.34× |
| 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AESWEC
| Q4 25 | $1.5B | $424.6M | ||
| Q3 25 | $1.3B | $938.9M | ||
| Q2 25 | $976.0M | $853.3M | ||
| Q1 25 | $545.0M | $1.2B | ||
| Q4 24 | $1.1B | $581.8M | ||
| Q3 24 | $985.0M | $729.0M | ||
| Q2 24 | $392.0M | $1.0B | ||
| Q1 24 | $287.0M | $863.6M |
自由现金流AESWEC
| Q4 25 | $-47.0M | — | ||
| Q3 25 | $-511.0M | $-625.7M | ||
| Q2 25 | $-356.0M | $23.9M | ||
| Q1 25 | $-709.0M | $461.5M | ||
| Q4 24 | $-639.0M | — | ||
| Q3 24 | $-847.0M | $-67.3M | ||
| Q2 24 | $-1.3B | $343.5M | ||
| Q1 24 | $-1.9B | $419.1M |
自由现金流率AESWEC
| Q4 25 | -1.5% | — | ||
| Q3 25 | -15.2% | -29.7% | ||
| Q2 25 | -12.5% | 1.2% | ||
| Q1 25 | -24.2% | 14.7% | ||
| Q4 24 | -21.6% | — | ||
| Q3 24 | -25.8% | -3.6% | ||
| Q2 24 | -43.9% | 19.4% | ||
| Q1 24 | -60.3% | 15.6% |
资本支出强度AESWEC
| Q4 25 | 49.5% | — | ||
| Q3 25 | 54.0% | 74.4% | ||
| Q2 25 | 46.7% | 41.3% | ||
| Q1 25 | 42.9% | 22.3% | ||
| Q4 24 | 58.3% | — | ||
| Q3 24 | 55.7% | 42.7% | ||
| Q2 24 | 57.3% | 39.2% | ||
| Q1 24 | 69.6% | 16.6% |
现金转化率AESWEC
| Q4 25 | 4.65× | 1.34× | ||
| Q3 25 | 2.03× | 3.47× | ||
| Q2 25 | — | 3.51× | ||
| Q1 25 | 11.85× | 1.60× | ||
| Q4 24 | 1.94× | 1.28× | ||
| Q3 24 | 1.96× | 3.06× | ||
| Q2 24 | 2.12× | 4.94× | ||
| Q1 24 | 0.66× | 1.39× |
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% |
WEC
| Wisconsin | $1.9B | 73% |
| Illinois | $441.2M | 17% |
| Other States | $165.1M | 7% |
| External Revenues | $74.0M | 3% |
| Otheroperatingrevenues | $8.0M | 0% |
