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Amentum Holdings, Inc.（AMTM）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是Amentum Holdings, Inc.的1.5倍（$4.8B vs $3.2B），Vistra Corp.净利率更高（4.8% vs 1.4%，领先3.5%），Vistra Corp.同比增速更快（31.2% vs -5.2%），Vistra Corp.自由现金流更多（$596.0M vs $-142.0M），过去两年Amentum Holdings, Inc.的营收复合增速更高（25.6% vs 23.3%）
本公司是总部位于美国达拉斯的跨国技术专业服务企业，面向全球企业、机构及政府部门客户提供工程、技术、建设服务以及科学与专项咨询服务，连续6年蝉联《工程新闻纪录》（ENR）全球顶尖设计企业500强榜首。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
AMTM vs VST — 直观对比
营收规模更大
VST
是对方的1.5倍
$3.2B
营收增速更快
VST
高出36.5%
-5.2%
净利率更高
VST
高出3.5%
1.4%
自由现金流更多
VST
多$738.0M
$-142.0M
两年增速更快
AMTM
近两年复合增速
23.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $4.8B |
| 净利润 | $44.0M | $233.0M |
| 毛利率 | 10.1% | — |
| 营业利润率 | 4.3% | 9.9% |
| 净利率 | 1.4% | 4.8% |
| 营收同比 | -5.2% | 31.2% |
| 净利润同比 | 266.7% | -47.2% |
| 每股收益（稀释后） | $0.18 | $0.55 |
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AMTMVST
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.9B | $4.8B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | $3.6B | $3.8B | ||
| Q1 25 | $3.5B | $4.3B | ||
| Q4 24 | $3.4B | $3.7B | ||
| Q3 24 | $2.2B | $4.3B | ||
| Q2 24 | $2.1B | $3.6B |
净利润AMTMVST
| Q1 26 | $44.0M | — | ||
| Q4 25 | $40.0M | $233.0M | ||
| Q3 25 | — | $652.0M | ||
| Q2 25 | $10.0M | $327.0M | ||
| Q1 25 | $4.0M | $-268.0M | ||
| Q4 24 | $12.0M | $441.0M | ||
| Q3 24 | $26.0M | $1.9B | ||
| Q2 24 | $-26.0M | $365.0M |
毛利率AMTMVST
| Q1 26 | 10.1% | — | ||
| Q4 25 | 10.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 10.3% | — | ||
| Q1 25 | 10.5% | — | ||
| Q4 24 | 10.6% | — | ||
| Q3 24 | 9.0% | — | ||
| Q2 24 | 9.6% | — |
营业利润率AMTMVST
| Q1 26 | 4.3% | — | ||
| Q4 25 | 3.4% | 9.9% | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | 2.9% | 13.7% | ||
| Q1 25 | 3.2% | -2.8% | ||
| Q4 24 | 3.9% | 16.4% | ||
| Q3 24 | 1.2% | 59.6% | ||
| Q2 24 | 4.2% | 22.5% |
净利率AMTMVST
| Q1 26 | 1.4% | — | ||
| Q4 25 | 1.0% | 4.8% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | 0.3% | 8.7% | ||
| Q1 25 | 0.1% | -6.3% | ||
| Q4 24 | 0.4% | 12.0% | ||
| Q3 24 | 1.2% | 43.5% | ||
| Q2 24 | -1.2% | 10.1% |
每股收益（稀释后）AMTMVST
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.16 | $0.55 | ||
| Q3 25 | — | $1.75 | ||
| Q2 25 | $0.04 | $0.81 | ||
| Q1 25 | $0.02 | $-0.93 | ||
| Q4 24 | $0.05 | $1.09 | ||
| Q3 24 | $0.31 | $5.25 | ||
| Q2 24 | $-0.29 | $0.90 |
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 | $247.0M | $785.0M |
| 总债务越低越好 | $3.9B | $15.8B |
| 股东权益账面价值 | $4.6B | $5.1B |
| 总资产 | $11.2B | $41.5B |
| 负债/权益比越低杠杆越低 | 0.86× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资AMTMVST
| Q1 26 | $247.0M | — | ||
| Q4 25 | $437.0M | $785.0M | ||
| Q3 25 | — | $602.0M | ||
| Q2 25 | $738.0M | $458.0M | ||
| Q1 25 | $546.0M | $561.0M | ||
| Q4 24 | $522.0M | $1.2B | ||
| Q3 24 | $452.0M | $905.0M | ||
| Q2 24 | — | $1.6B |
总债务AMTMVST
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.9B | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | $4.5B | $15.5B | ||
| Q1 25 | $4.7B | $15.4B | ||
| Q4 24 | $4.7B | $15.4B | ||
| Q3 24 | $4.7B | $13.9B | ||
| Q2 24 | — | $13.9B |
股东权益AMTMVST
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.5B | $5.1B | ||
| Q3 25 | — | $5.2B | ||
| Q2 25 | $4.5B | $4.8B | ||
| Q1 25 | $4.4B | $4.8B | ||
| Q4 24 | $4.5B | $5.6B | ||
| Q3 24 | $4.5B | $5.4B | ||
| Q2 24 | $303.0M | $5.6B |
总资产AMTMVST
| Q1 26 | $11.2B | — | ||
| Q4 25 | $11.5B | $41.5B | ||
| Q3 25 | — | $38.0B | ||
| Q2 25 | $11.8B | $38.1B | ||
| Q1 25 | $12.0B | $38.2B | ||
| Q4 24 | $11.9B | $37.8B | ||
| Q3 24 | $12.0B | $37.9B | ||
| Q2 24 | — | $39.1B |
负债/权益比AMTMVST
| Q1 26 | 0.86× | — | ||
| Q4 25 | 0.88× | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | 1.01× | 3.22× | ||
| Q1 25 | 1.06× | 3.20× | ||
| Q4 24 | 1.05× | 2.77× | ||
| Q3 24 | 1.05× | 2.56× | ||
| Q2 24 | — | 2.49× |
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 | $-136.0M | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $-142.0M | $596.0M |
| 自由现金流率自由现金流/营收 | -4.4% | 12.4% |
| 资本支出强度资本支出/营收 | 0.2% | 17.4% |
| 现金转化率经营现金流/净利润 | -3.09× | 6.15× |
| 过去12个月自由现金流最近4个季度 | $272.0M | $1.3B |
8季度趋势，按日历期对齐
经营现金流AMTMVST
| Q1 26 | $-136.0M | — | ||
| Q4 25 | $270.0M | $1.4B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $106.0M | $572.0M | ||
| Q1 25 | $57.0M | $599.0M | ||
| Q4 24 | $110.0M | $1.4B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.2B |
自由现金流AMTMVST
| Q1 26 | $-142.0M | — | ||
| Q4 25 | $261.0M | $596.0M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | $100.0M | $-118.0M | ||
| Q1 25 | $53.0M | $-169.0M | ||
| Q4 24 | $102.0M | $923.0M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $698.0M |
自由现金流率AMTMVST
| Q1 26 | -4.4% | — | ||
| Q4 25 | 6.6% | 12.4% | ||
| Q3 25 | — | 21.1% | ||
| Q2 25 | 2.8% | -3.1% | ||
| Q1 25 | 1.5% | -4.0% | ||
| Q4 24 | 3.0% | 25.2% | ||
| Q3 24 | — | 23.4% | ||
| Q2 24 | — | 19.4% |
资本支出强度AMTMVST
| Q1 26 | 0.2% | — | ||
| Q4 25 | 0.2% | 17.4% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | 0.2% | 18.4% | ||
| Q1 25 | 0.1% | 18.1% | ||
| Q4 24 | 0.2% | 11.7% | ||
| Q3 24 | — | 15.8% | ||
| Q2 24 | — | 13.8% |
现金转化率AMTMVST
| Q1 26 | -3.09× | — | ||
| Q4 25 | 6.75× | 6.15× | ||
| Q3 25 | — | 2.25× | ||
| Q2 25 | 10.60× | 1.75× | ||
| Q1 25 | 14.25× | — | ||
| Q4 24 | 9.17× | 3.07× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 3.28× |
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
AMTM
| Global Engineering Solutions Segment | $1.9B | 59% |
| Other U.S.Government Agencies | $400.0M | 12% |
| Fixed Price Contract | $380.0M | 12% |
| Commercial And International | $226.0M | 7% |
| Time And Materials Contract | $171.0M | 5% |
| Sales Channel Through Intermediary | $78.0M | 2% |
| Equity Method Investee | $50.0M | 2% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
