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ARGAN INC（AGX）与SunPower Inc.（SPWR）财务数据对比。点击上方公司名可切换其他公司
ARGAN INC的季度营收约是SunPower Inc.的3.2倍（$251.2M vs $79.7M）。ARGAN INC净利率更高（12.2% vs -17.8%，领先30.0%）。ARGAN INC同比增速更快（-2.3% vs -10.1%）。过去两年SunPower Inc.的营收复合增速更高（181.8% vs 23.5%）
Argan Inc.是一家控股企业，主营工程设计、施工建设、项目管理及咨询服务，核心业务覆盖发电、电信、工业基建与可再生能源领域，主要服务北美地区的公营及私营部门客户。
SunPower是一家美国光伏太阳能发电系统与储能电池产品供应商，主要服务住宅客户。公司由斯坦福大学电气工程教授理查德·斯旺森于1985年创立，总部位于加利福尼亚州圣何塞。赛普拉斯半导体2002年收购该公司多数股权后推动其快速发展，SunPower最终于2005年完成上市，目前是全球光伏领域知名企业。
AGX vs SPWR — 直观对比
营收规模更大
AGX
是对方的3.2倍
$79.7M
营收增速更快
AGX
高出7.8%
-10.1%
净利率更高
AGX
高出30.0%
-17.8%
两年增速更快
SPWR
近两年复合增速
23.5%
损益表 — Q3 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $251.2M | $79.7M |
| 净利润 | $30.7M | $-14.2M |
| 毛利率 | 18.7% | 35.5% |
| 营业利润率 | 13.0% | -27.4% |
| 净利率 | 12.2% | -17.8% |
| 营收同比 | -2.3% | -10.1% |
| 净利润同比 | 9.7% | -130.1% |
| 每股收益（稀释后） | $2.17 | $-0.05 |
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AGXSPWR
| Q4 25 | $251.2M | $79.7M | ||
| Q3 25 | $237.7M | $22.0M | ||
| Q2 25 | $193.7M | $67.5M | ||
| Q1 25 | $232.5M | $82.7M | ||
| Q4 24 | $257.0M | $88.7M | ||
| Q3 24 | $227.0M | $5.5M | ||
| Q2 24 | $157.7M | $4.5M | ||
| Q1 24 | $164.6M | $10.0M |
净利润AGXSPWR
| Q4 25 | $30.7M | $-14.2M | ||
| Q3 25 | $35.3M | $-16.9M | ||
| Q2 25 | $22.6M | $-22.4M | ||
| Q1 25 | $31.4M | $8.1M | ||
| Q4 24 | $28.0M | $47.0M | ||
| Q3 24 | $18.2M | $-78.0M | ||
| Q2 24 | $7.9M | $-15.9M | ||
| Q1 24 | $12.0M | $-9.6M |
毛利率AGXSPWR
| Q4 25 | 18.7% | 35.5% | ||
| Q3 25 | 18.6% | — | ||
| Q2 25 | 19.0% | 42.6% | ||
| Q1 25 | 20.5% | 48.5% | ||
| Q4 24 | 17.2% | 46.5% | ||
| Q3 24 | 13.7% | -57.0% | ||
| Q2 24 | 11.4% | -19.9% | ||
| Q1 24 | 14.4% | 22.7% |
营业利润率AGXSPWR
| Q4 25 | 13.0% | -27.4% | ||
| Q3 25 | 12.6% | -15.7% | ||
| Q2 25 | 12.6% | -4.0% | ||
| Q1 25 | 14.1% | 1.3% | ||
| Q4 24 | 11.8% | -24.2% | ||
| Q3 24 | 8.2% | -541.4% | ||
| Q2 24 | 4.1% | -211.4% | ||
| Q1 24 | 7.1% | -75.1% |
净利率AGXSPWR
| Q4 25 | 12.2% | -17.8% | ||
| Q3 25 | 14.8% | -76.9% | ||
| Q2 25 | 11.6% | -33.2% | ||
| Q1 25 | 13.5% | 9.8% | ||
| Q4 24 | 10.9% | 53.0% | ||
| Q3 24 | 8.0% | -1408.2% | ||
| Q2 24 | 5.0% | -353.8% | ||
| Q1 24 | 7.3% | -95.5% |
每股收益（稀释后）AGXSPWR
| Q4 25 | $2.17 | $-0.05 | ||
| Q3 25 | $2.50 | $-0.19 | ||
| Q2 25 | $1.60 | $-0.28 | ||
| Q1 25 | $2.26 | $0.00 | ||
| Q4 24 | $2.00 | $0.27 | ||
| Q3 24 | $1.31 | $-1.03 | ||
| Q2 24 | $0.58 | $-0.26 | ||
| Q1 24 | $0.89 | $-0.20 |
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 | $423.7M | $9.6M |
| 总债务越低越好 | — | $164.8M |
| 股东权益账面价值 | $419.7M | $-90.1M |
| 总资产 | $1.1B | $241.2M |
| 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AGXSPWR
| Q4 25 | $423.7M | $9.6M | ||
| Q3 25 | $275.5M | $5.1M | ||
| Q2 25 | $304.3M | $11.1M | ||
| Q1 25 | $298.4M | $10.6M | ||
| Q4 24 | $299.8M | $13.4M | ||
| Q3 24 | $302.0M | $79.5M | ||
| Q2 24 | $291.8M | $1.8M | ||
| Q1 24 | $306.5M | $1.8M |
总债务AGXSPWR
| Q4 25 | — | $164.8M | ||
| Q3 25 | — | $204.3M | ||
| Q2 25 | — | $152.9M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $147.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AGXSPWR
| Q4 25 | $419.7M | $-90.1M | ||
| Q3 25 | $393.2M | $-112.3M | ||
| Q2 25 | $363.9M | $-107.2M | ||
| Q1 25 | $351.9M | $-89.0M | ||
| Q4 24 | $328.7M | $-97.5M | ||
| Q3 24 | $308.1M | $-142.7M | ||
| Q2 24 | $293.2M | $-92.0M | ||
| Q1 24 | $290.9M | $-85.1M |
总资产AGXSPWR
| Q4 25 | $1.1B | $241.2M | ||
| Q3 25 | $882.7M | $208.3M | ||
| Q2 25 | $792.2M | $163.1M | ||
| Q1 25 | $836.2M | $147.8M | ||
| Q4 24 | $768.9M | $144.5M | ||
| Q3 24 | $726.6M | $107.9M | ||
| Q2 24 | $624.4M | $33.4M | ||
| Q1 24 | $598.2M | $40.9M |
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 | $172.5M | $-1.9M |
| 自由现金流经营现金流 - 资本支出 | $171.9M | — |
| 自由现金流率自由现金流/营收 | 68.4% | — |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 现金转化率经营现金流/净利润 | 5.61× | — |
| 过去12个月自由现金流最近4个季度 | $283.0M | — |
8季度趋势，按日历期对齐
经营现金流AGXSPWR
| Q4 25 | $172.5M | $-1.9M | ||
| Q3 25 | $34.6M | $-6.4M | ||
| Q2 25 | $35.3M | $-4.4M | ||
| Q1 25 | $44.6M | $-2.6M | ||
| Q4 24 | $31.8M | $-25.6M | ||
| Q3 24 | $73.5M | $-21.5M | ||
| Q2 24 | $17.7M | $-2.7M | ||
| Q1 24 | $24.6M | $-4.9M |
自由现金流AGXSPWR
| Q4 25 | $171.9M | — | ||
| Q3 25 | $32.9M | — | ||
| Q2 25 | $34.9M | — | ||
| Q1 25 | $43.3M | — | ||
| Q4 24 | $29.2M | — | ||
| Q3 24 | $71.1M | — | ||
| Q2 24 | $17.4M | — | ||
| Q1 24 | $24.0M | — |
自由现金流率AGXSPWR
| Q4 25 | 68.4% | — | ||
| Q3 25 | 13.8% | — | ||
| Q2 25 | 18.0% | — | ||
| Q1 25 | 18.6% | — | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 31.3% | — | ||
| Q2 24 | 11.0% | — | ||
| Q1 24 | 14.6% | — |
资本支出强度AGXSPWR
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.4% | — |
现金转化率AGXSPWR
| Q4 25 | 5.61× | — | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.42× | -0.32× | ||
| Q4 24 | 1.13× | -0.54× | ||
| Q3 24 | 4.04× | — | ||
| Q2 24 | 2.24× | — | ||
| Q1 24 | 2.05× | — |
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
AGX
| Power Industry Services | $195.5M | 78% |
| Industrial Construction Services | $49.4M | 20% |
| Telecommunications Infrastructure Services | $6.3M | 3% |
SPWR
| Residential Solar Installation | $46.9M | 59% |
| New Homes Business | $22.7M | 29% |
| Other | $10.1M | 13% |
