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英美资源集团（AMSC）与FUELCELL ENERGY INC（FCEL）财务数据对比。点击上方公司名可切换其他公司
英美资源集团的季度营收约是FUELCELL ENERGY INC的1.4倍（$74.5M vs $55.0M），英美资源集团净利率更高（158.1% vs -54.3%，领先212.4%），英美资源集团同比增速更快（21.4% vs 11.5%），英美资源集团自由现金流更多（$2.4M vs $-23.9M），过去两年FUELCELL ENERGY INC的营收复合增速更高（81.6% vs 33.2%）
英美资源集团是一家总部位于英国伦敦的跨国矿业企业，是全球最大的铂金生产商，产量约占全球总产出的40%，同时也是钻石、铜、镍、铁矿石、多卤石、炼焦煤的主要供应商，业务布局覆盖非洲、亚洲、大洋洲、欧洲、南北美洲多个地区。
燃料电池能源公司是一家上市燃料电池企业，总部位于美国康涅狄格州丹伯里，公司主打基于熔融碳酸盐燃料电池技术的发电站业务，从事相关产品的设计、生产，同时还提供发电站运营及相关技术服务。
AMSC vs FCEL — 直观对比
营收规模更大
AMSC
是对方的1.4倍
$55.0M
营收增速更快
AMSC
高出9.8%
11.5%
净利率更高
AMSC
高出212.4%
-54.3%
自由现金流更多
AMSC
多$26.2M
$-23.9M
两年增速更快
FCEL
近两年复合增速
33.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $74.5M | $55.0M |
| 净利润 | $117.8M | $-29.9M |
| 毛利率 | 30.7% | -12.1% |
| 营业利润率 | 4.5% | -51.5% |
| 净利率 | 158.1% | -54.3% |
| 营收同比 | 21.4% | 11.5% |
| 净利润同比 | 4679.1% | 27.9% |
| 每股收益（稀释后） | $2.62 | $-0.43 |
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AMSCFCEL
| Q4 25 | $74.5M | $55.0M | ||
| Q3 25 | $65.9M | $46.7M | ||
| Q2 25 | $72.4M | $37.4M | ||
| Q1 25 | $66.7M | $19.0M | ||
| Q4 24 | $61.4M | $49.3M | ||
| Q3 24 | $54.5M | $23.7M | ||
| Q2 24 | $40.3M | $22.4M | ||
| Q1 24 | $42.0M | $16.7M |
净利润AMSCFCEL
| Q4 25 | $117.8M | $-29.9M | ||
| Q3 25 | $4.8M | $-91.7M | ||
| Q2 25 | $6.7M | $-38.0M | ||
| Q1 25 | $1.2M | $-28.3M | ||
| Q4 24 | $2.5M | $-41.4M | ||
| Q3 24 | $4.9M | $-32.7M | ||
| Q2 24 | $-2.5M | $-32.1M | ||
| Q1 24 | $-1.6M | $-19.8M |
毛利率AMSCFCEL
| Q4 25 | 30.7% | -12.1% | ||
| Q3 25 | 31.0% | -11.0% | ||
| Q2 25 | 33.8% | -25.2% | ||
| Q1 25 | 26.5% | -27.4% | ||
| Q4 24 | 26.6% | -22.1% | ||
| Q3 24 | 28.7% | -26.2% | ||
| Q2 24 | 30.3% | -31.6% | ||
| Q1 24 | 24.8% | -70.2% |
营业利润率AMSCFCEL
| Q4 25 | 4.5% | -51.5% | ||
| Q3 25 | 4.5% | -204.0% | ||
| Q2 25 | 7.8% | -95.7% | ||
| Q1 25 | 2.5% | -172.9% | ||
| Q4 24 | 2.1% | -83.2% | ||
| Q3 24 | -1.4% | -141.9% | ||
| Q2 24 | -8.2% | -184.5% | ||
| Q1 24 | -5.3% | -254.5% |
净利率AMSCFCEL
| Q4 25 | 158.1% | -54.3% | ||
| Q3 25 | 7.2% | -196.1% | ||
| Q2 25 | 9.3% | -101.7% | ||
| Q1 25 | 1.8% | -149.1% | ||
| Q4 24 | 4.0% | -84.0% | ||
| Q3 24 | 9.0% | -137.8% | ||
| Q2 24 | -6.3% | -143.4% | ||
| Q1 24 | -3.8% | -118.6% |
每股收益（稀释后）AMSCFCEL
| Q4 25 | $2.62 | $-0.43 | ||
| Q3 25 | $0.11 | $-3.78 | ||
| Q2 25 | $0.17 | $-1.79 | ||
| Q1 25 | $0.04 | $-1.42 | ||
| Q4 24 | $0.06 | $-2.29 | ||
| Q3 24 | $0.13 | $-1.99 | ||
| Q2 24 | $-0.07 | $-2.18 | ||
| Q1 24 | $-0.03 | $-1.37 |
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 | $141.1M | $278.1M |
| 总债务越低越好 | — | $103.8M |
| 股东权益账面价值 | $536.8M | $662.2M |
| 总资产 | $719.5M | $932.1M |
| 负债/权益比越低杠杆越低 | — | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资AMSCFCEL
| Q4 25 | $141.1M | $278.1M | ||
| Q3 25 | $212.9M | $174.7M | ||
| Q2 25 | $207.9M | $177.0M | ||
| Q1 25 | $79.5M | $208.4M | ||
| Q4 24 | $75.2M | $257.3M | ||
| Q3 24 | $72.1M | $267.2M | ||
| Q2 24 | $93.5M | $260.1M | ||
| Q1 24 | $90.5M | $297.5M |
总债务AMSCFCEL
| Q4 25 | — | $103.8M | ||
| Q3 25 | — | $106.4M | ||
| Q2 25 | — | $109.4M | ||
| Q1 25 | — | $112.3M | ||
| Q4 24 | — | $115.7M | ||
| Q3 24 | — | $112.7M | ||
| Q2 24 | — | $116.2M | ||
| Q1 24 | — | $107.2M |
股东权益AMSCFCEL
| Q4 25 | $536.8M | $662.2M | ||
| Q3 25 | $342.2M | $556.2M | ||
| Q2 25 | $333.1M | $609.2M | ||
| Q1 25 | $197.1M | $635.2M | ||
| Q4 24 | $192.7M | $656.9M | ||
| Q3 24 | $187.0M | $675.8M | ||
| Q2 24 | $143.3M | $639.8M | ||
| Q1 24 | $144.6M | $663.9M |
总资产AMSCFCEL
| Q4 25 | $719.5M | $932.1M | ||
| Q3 25 | $445.6M | $830.5M | ||
| Q2 25 | $452.8M | $883.8M | ||
| Q1 25 | $310.5M | $907.5M | ||
| Q4 24 | $310.3M | $944.1M | ||
| Q3 24 | $298.4M | $948.9M | ||
| Q2 24 | $240.1M | $916.8M | ||
| Q1 24 | $232.8M | $923.2M |
负债/权益比AMSCFCEL
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.18× | ||
| Q1 24 | — | 0.16× |
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 | $3.2M | $-22.9M |
| 自由现金流经营现金流 - 资本支出 | $2.4M | $-23.9M |
| 自由现金流率自由现金流/营收 | 3.2% | -43.4% |
| 资本支出强度资本支出/营收 | 1.2% | 1.8% |
| 现金转化率经营现金流/净利润 | 0.03× | — |
| 过去12个月自由现金流最近4个季度 | $16.0M | $-143.9M |
8季度趋势，按日历期对齐
经营现金流AMSCFCEL
| Q4 25 | $3.2M | $-22.9M | ||
| Q3 25 | $6.5M | $-26.8M | ||
| Q2 25 | $4.1M | $-29.9M | ||
| Q1 25 | $6.3M | $-45.7M | ||
| Q4 24 | $5.9M | $5.8M | ||
| Q3 24 | $12.7M | $-63.4M | ||
| Q2 24 | $3.4M | $-37.1M | ||
| Q1 24 | $2.2M | $-58.3M |
自由现金流AMSCFCEL
| Q4 25 | $2.4M | $-23.9M | ||
| Q3 25 | $5.1M | $-32.1M | ||
| Q2 25 | $3.3M | $-35.2M | ||
| Q1 25 | $5.3M | $-52.8M | ||
| Q4 24 | $5.3M | $-4.7M | ||
| Q3 24 | $12.1M | $-76.8M | ||
| Q2 24 | $3.1M | $-50.3M | ||
| Q1 24 | $1.9M | $-68.8M |
自由现金流率AMSCFCEL
| Q4 25 | 3.2% | -43.4% | ||
| Q3 25 | 7.7% | -68.6% | ||
| Q2 25 | 4.6% | -94.0% | ||
| Q1 25 | 7.9% | -277.8% | ||
| Q4 24 | 8.7% | -9.5% | ||
| Q3 24 | 22.3% | -324.0% | ||
| Q2 24 | 7.8% | -224.5% | ||
| Q1 24 | 4.6% | -412.4% |
资本支出强度AMSCFCEL
| Q4 25 | 1.2% | 1.8% | ||
| Q3 25 | 2.1% | 11.2% | ||
| Q2 25 | 1.1% | 14.1% | ||
| Q1 25 | 1.6% | 37.2% | ||
| Q4 24 | 0.9% | 21.4% | ||
| Q3 24 | 1.1% | 56.6% | ||
| Q2 24 | 0.7% | 58.9% | ||
| Q1 24 | 0.7% | 63.3% |
现金转化率AMSCFCEL
| Q4 25 | 0.03× | — | ||
| Q3 25 | 1.37× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 5.22× | — | ||
| Q4 24 | 2.38× | — | ||
| Q3 24 | 2.60× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
AMSC
| Equipment And Systems | $56.0M | 75% |
| Megatran | $14.1M | 19% |
| Comtrafo Industria De Transformadores Eletricos SA | $4.6M | 6% |
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
