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AIR LEASE CORP（AL）与PLUG POWER INC（PLUG）财务数据对比。点击上方公司名可切换其他公司
PLUG POWER INC的季度营收约是AIR LEASE CORP的1.6倍（$225.2M vs $140.8M），AIR LEASE CORP净利率更高（128.5% vs -375.6%，领先504.1%），AIR LEASE CORP同比增速更快（90.4% vs 17.6%），AIR LEASE CORP自由现金流更多（$342.1M vs $-153.0M），过去两年AIR LEASE CORP的营收复合增速更高（69.6% vs 36.8%）
航空租赁公司（ALC）是2010年成立的美国飞机租赁企业，由史蒂文·F·乌德瓦-哈齐执掌运营。公司直接向波音、空客、巴航工业、ATR采购全新商用飞机，为全球各地航空公司客户提供专业的飞机租赁及融资服务。
普拉格能源是一家美国企业，专注于氢燃料电池和电解槽系统的研发，其产品可替代电动设备及车辆所使用的传统电池。公司总部位于纽约州斯林格兰兹，在华盛顿州斯波坎、纽约州罗切斯特均设有生产运营基地。
AL vs PLUG — 直观对比
营收规模更大
PLUG
是对方的1.6倍
$140.8M
营收增速更快
AL
高出72.8%
17.6%
净利率更高
AL
高出504.1%
-375.6%
自由现金流更多
AL
多$495.2M
$-153.0M
两年增速更快
AL
近两年复合增速
36.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $140.8M | $225.2M |
| 净利润 | $180.9M | $-846.0M |
| 毛利率 | — | 2.4% |
| 营业利润率 | — | -338.9% |
| 净利率 | 128.5% | -375.6% |
| 营收同比 | 90.4% | 17.6% |
| 净利润同比 | 60.2% | 36.7% |
| 每股收益（稀释后） | $1.49 | $-0.70 |
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ALPLUG
| Q4 25 | $140.8M | $225.2M | ||
| Q3 25 | $44.5M | $177.1M | ||
| Q2 25 | $53.0M | $174.0M | ||
| Q1 25 | $92.9M | $133.7M | ||
| Q4 24 | $74.0M | $191.5M | ||
| Q3 24 | $65.0M | $173.7M | ||
| Q2 24 | $57.8M | $143.3M | ||
| Q1 24 | $49.0M | $120.3M |
净利润ALPLUG
| Q4 25 | $180.9M | $-846.0M | ||
| Q3 25 | $146.5M | $-361.9M | ||
| Q2 25 | $385.2M | $-227.1M | ||
| Q1 25 | $375.8M | $-196.7M | ||
| Q4 24 | $112.9M | $-1.3B | ||
| Q3 24 | $104.0M | $-211.2M | ||
| Q2 24 | $102.9M | $-262.3M | ||
| Q1 24 | $107.9M | $-295.8M |
毛利率ALPLUG
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | -67.9% | ||
| Q2 25 | — | -30.7% | ||
| Q1 25 | — | -55.3% | ||
| Q4 24 | — | -122.5% | ||
| Q3 24 | — | -57.6% | ||
| Q2 24 | — | -91.6% | ||
| Q1 24 | — | -132.3% |
营业利润率ALPLUG
| Q4 25 | — | -338.9% | ||
| Q3 25 | — | -197.0% | ||
| Q2 25 | — | -101.7% | ||
| Q1 25 | — | -133.5% | ||
| Q4 24 | — | -678.7% | ||
| Q3 24 | — | -124.4% | ||
| Q2 24 | — | -170.7% | ||
| Q1 24 | — | -215.7% |
净利率ALPLUG
| Q4 25 | 128.5% | -375.6% | ||
| Q3 25 | 329.2% | -204.4% | ||
| Q2 25 | 726.9% | -130.5% | ||
| Q1 25 | 404.5% | -147.1% | ||
| Q4 24 | 152.7% | -697.5% | ||
| Q3 24 | 160.0% | -121.5% | ||
| Q2 24 | 178.2% | -183.0% | ||
| Q1 24 | 220.2% | -245.9% |
每股收益（稀释后）ALPLUG
| Q4 25 | $1.49 | $-0.70 | ||
| Q3 25 | $1.21 | $-0.31 | ||
| Q2 25 | $3.33 | $-0.20 | ||
| Q1 25 | $3.26 | $-0.21 | ||
| Q4 24 | $0.83 | $-1.61 | ||
| Q3 24 | $0.82 | $-0.25 | ||
| Q2 24 | $0.81 | $-0.36 | ||
| Q1 24 | $0.87 | $-0.46 |
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 | $466.4M | $368.5M |
| 总债务越低越好 | $19.7B | — |
| 股东权益账面价值 | $8.5B | $978.1M |
| 总资产 | $32.9B | $2.6B |
| 负债/权益比越低杠杆越低 | 2.33× | — |
8季度趋势，按日历期对齐
现金及短期投资ALPLUG
| Q4 25 | $466.4M | $368.5M | ||
| Q3 25 | $452.2M | $165.9M | ||
| Q2 25 | $454.8M | $140.7M | ||
| Q1 25 | $456.6M | $295.8M | ||
| Q4 24 | $472.6M | $205.7M | ||
| Q3 24 | $460.8M | $93.9M | ||
| Q2 24 | $454.1M | $62.4M | ||
| Q1 24 | $554.4M | $172.9M |
总债务ALPLUG
| Q4 25 | $19.7B | — | ||
| Q3 25 | $20.2B | — | ||
| Q2 25 | $20.3B | — | ||
| Q1 25 | $19.9B | — | ||
| Q4 24 | $20.2B | — | ||
| Q3 24 | $20.2B | $3.9M | ||
| Q2 24 | $19.7B | $3.7M | ||
| Q1 24 | $19.5B | $3.8M |
股东权益ALPLUG
| Q4 25 | $8.5B | $978.1M | ||
| Q3 25 | $8.3B | $1.4B | ||
| Q2 25 | $8.2B | $1.7B | ||
| Q1 25 | $7.9B | $1.9B | ||
| Q4 24 | $7.5B | $1.7B | ||
| Q3 24 | $7.7B | $3.0B | ||
| Q2 24 | $7.3B | $3.0B | ||
| Q1 24 | $7.2B | $2.9B |
总资产ALPLUG
| Q4 25 | $32.9B | $2.6B | ||
| Q3 25 | $33.4B | $3.1B | ||
| Q2 25 | $33.3B | $3.4B | ||
| Q1 25 | $32.4B | $3.6B | ||
| Q4 24 | $32.3B | $3.6B | ||
| Q3 24 | $32.2B | $4.7B | ||
| Q2 24 | $31.0B | $4.8B | ||
| Q1 24 | $30.9B | $4.8B |
负债/权益比ALPLUG
| Q4 25 | 2.33× | — | ||
| Q3 25 | 2.42× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.53× | — | ||
| Q4 24 | 2.68× | — | ||
| Q3 24 | 2.63× | 0.00× | ||
| Q2 24 | 2.69× | 0.00× | ||
| Q1 24 | 2.69× | 0.00× |
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 | $414.1M | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $342.1M | $-153.0M |
| 自由现金流率自由现金流/营收 | 242.9% | -67.9% |
| 资本支出强度资本支出/营收 | 51.1% | 1.9% |
| 现金转化率经营现金流/净利润 | 2.29× | — |
| 过去12个月自由现金流最近4个季度 | $1.5B | $-647.0M |
8季度趋势，按日历期对齐
经营现金流ALPLUG
| Q4 25 | $414.1M | $-148.6M | ||
| Q3 25 | $458.6M | $-89.8M | ||
| Q2 25 | $473.6M | $-191.8M | ||
| Q1 25 | $388.3M | $-105.6M | ||
| Q4 24 | $430.0M | $-131.2M | ||
| Q3 24 | $461.9M | $-174.9M | ||
| Q2 24 | $413.8M | $-254.7M | ||
| Q1 24 | $371.3M | $-167.7M |
自由现金流ALPLUG
| Q4 25 | $342.1M | $-153.0M | ||
| Q3 25 | $412.3M | $-117.5M | ||
| Q2 25 | $427.1M | $-230.4M | ||
| Q1 25 | $315.5M | $-146.0M | ||
| Q4 24 | $326.8M | $-165.2M | ||
| Q3 24 | $369.8M | $-234.2M | ||
| Q2 24 | $346.4M | $-356.0M | ||
| Q1 24 | $246.8M | $-260.3M |
自由现金流率ALPLUG
| Q4 25 | 242.9% | -67.9% | ||
| Q3 25 | 926.6% | -66.4% | ||
| Q2 25 | 806.0% | -132.5% | ||
| Q1 25 | 339.5% | -109.2% | ||
| Q4 24 | 441.8% | -86.3% | ||
| Q3 24 | 569.1% | -134.8% | ||
| Q2 24 | 599.5% | -248.4% | ||
| Q1 24 | 503.8% | -216.5% |
资本支出强度ALPLUG
| Q4 25 | 51.1% | 1.9% | ||
| Q3 25 | 104.1% | 15.6% | ||
| Q2 25 | 87.8% | 22.2% | ||
| Q1 25 | 78.4% | 30.3% | ||
| Q4 24 | 139.6% | 17.7% | ||
| Q3 24 | 141.7% | 34.1% | ||
| Q2 24 | 116.7% | 70.7% | ||
| Q1 24 | 254.3% | 77.0% |
现金转化率ALPLUG
| Q4 25 | 2.29× | — | ||
| Q3 25 | 3.13× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 1.03× | — | ||
| Q4 24 | 3.81× | — | ||
| Q3 24 | 4.44× | — | ||
| Q2 24 | 4.02× | — | ||
| Q1 24 | 3.44× | — |
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
AL
暂无分部数据
PLUG
| Sales Of Equipment And Related Infrastructure | $111.6M | 50% |
| Services Performed On Fuel Cell Systems And Related Infrastructure | $41.5M | 18% |
| Power Purchase Agreements | $36.1M | 16% |
| Sale Of Cryogenic Equipment | $20.0M | 9% |
| Sales Of Fuel Cell Systems | $11.2M | 5% |
| Other | $4.8M | 2% |
