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Arista Networks（ANET）与Eversource Energy（ES）财务数据对比。点击上方公司名可切换其他公司
Eversource Energy的季度营收约是Arista Networks的1.4倍（$3.4B vs $2.5B），Arista Networks净利率更高（38.4% vs 12.6%，领先25.9%），Arista Networks同比增速更快（28.9% vs 13.4%），过去两年Arista Networks的营收复合增速更高（25.8% vs 0.6%）
Arista Networks是总部位于美国加利福尼亚州圣克拉拉的计算机网络企业，专注于设计销售多层网络交换机，为大型数据中心、云计算、高性能计算、高频交易等场景提供软件定义网络（SDN）解决方案，旗下拥有10G至800G系列低延迟直通以太网交换机，搭载自研基于Linux的可扩展操作系统EOS。
Eversource Energy是位列财富500强的上市能源企业，总部位于美国马萨诸塞州斯普林菲尔德，在康涅狄格州哈特福德、马萨诸塞州波士顿均设有办公据点，旗下多家受监管子公司为康涅狄格、马萨诸塞、新罕布什尔三州约400万用户提供零售电力、天然气及供水服务。
ANET vs ES — 直观对比
营收规模更大
ES
是对方的1.4倍
$2.5B
营收增速更快
ANET
高出15.5%
13.4%
净利率更高
ANET
高出25.9%
12.6%
两年增速更快
ANET
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $3.4B |
| 净利润 | $955.8M | $423.2M |
| 毛利率 | 62.9% | — |
| 营业利润率 | 41.5% | 21.1% |
| 净利率 | 38.4% | 12.6% |
| 营收同比 | 28.9% | 13.4% |
| 净利润同比 | 19.3% | 468.8% |
| 每股收益（稀释后） | $0.74 | $1.11 |
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ANETES
| Q4 25 | $2.5B | $3.4B | ||
| Q3 25 | $2.3B | $3.2B | ||
| Q2 25 | $2.2B | $2.8B | ||
| Q1 25 | $2.0B | $4.1B | ||
| Q4 24 | $1.9B | $3.0B | ||
| Q3 24 | $1.8B | $3.1B | ||
| Q2 24 | $1.7B | $2.5B | ||
| Q1 24 | $1.6B | $3.3B |
净利润ANETES
| Q4 25 | $955.8M | $423.2M | ||
| Q3 25 | $853.0M | $369.4M | ||
| Q2 25 | $888.8M | $354.6M | ||
| Q1 25 | $813.8M | $552.7M | ||
| Q4 24 | $801.0M | $74.4M | ||
| Q3 24 | $747.9M | $-116.2M | ||
| Q2 24 | $665.4M | $337.2M | ||
| Q1 24 | $637.7M | $523.7M |
毛利率ANETES
| Q4 25 | 62.9% | — | ||
| Q3 25 | 64.6% | — | ||
| Q2 25 | 65.2% | — | ||
| Q1 25 | 63.7% | — | ||
| Q4 24 | 63.8% | — | ||
| Q3 24 | 64.2% | — | ||
| Q2 24 | 64.9% | — | ||
| Q1 24 | 63.7% | — |
营业利润率ANETES
| Q4 25 | 41.5% | 21.1% | ||
| Q3 25 | 42.4% | 21.4% | ||
| Q2 25 | 44.7% | 23.4% | ||
| Q1 25 | 42.8% | 22.5% | ||
| Q4 24 | 41.4% | 11.7% | ||
| Q3 24 | 43.4% | 20.0% | ||
| Q2 24 | 41.4% | 23.8% | ||
| Q1 24 | 42.0% | 25.4% |
净利率ANETES
| Q4 25 | 38.4% | 12.6% | ||
| Q3 25 | 37.0% | 11.5% | ||
| Q2 25 | 40.3% | 12.5% | ||
| Q1 25 | 40.6% | 13.4% | ||
| Q4 24 | 41.5% | 2.5% | ||
| Q3 24 | 41.3% | -3.8% | ||
| Q2 24 | 39.4% | 13.3% | ||
| Q1 24 | 40.6% | 15.7% |
每股收益（稀释后）ANETES
| Q4 25 | $0.74 | $1.11 | ||
| Q3 25 | $0.67 | $0.99 | ||
| Q2 25 | $0.70 | $0.96 | ||
| Q1 25 | $0.64 | $1.50 | ||
| Q4 24 | $-4.17 | $0.16 | ||
| Q3 24 | $2.33 | $-0.33 | ||
| Q2 24 | $2.08 | $0.95 | ||
| Q1 24 | $1.99 | $1.49 |
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 | $2.0B | $135.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $12.4B | $16.2B |
| 总资产 | $19.4B | $63.8B |
| 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ANETES
| Q4 25 | $2.0B | $135.4M | ||
| Q3 25 | $2.3B | $259.3M | ||
| Q2 25 | $2.2B | $343.7M | ||
| Q1 25 | $1.8B | $111.4M | ||
| Q4 24 | $2.8B | $26.7M | ||
| Q3 24 | $3.2B | $97.9M | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.1B | — |
股东权益ANETES
| Q4 25 | $12.4B | $16.2B | ||
| Q3 25 | $11.9B | $16.0B | ||
| Q2 25 | $10.9B | $15.7B | ||
| Q1 25 | $10.1B | $15.3B | ||
| Q4 24 | $10.0B | $15.0B | ||
| Q3 24 | $9.2B | $15.0B | ||
| Q2 24 | $8.4B | $14.8B | ||
| Q1 24 | $7.9B | $14.5B |
总资产ANETES
| Q4 25 | $19.4B | $63.8B | ||
| Q3 25 | $18.0B | $61.7B | ||
| Q2 25 | $16.5B | $61.0B | ||
| Q1 25 | $14.5B | $60.2B | ||
| Q4 24 | $14.0B | $59.6B | ||
| Q3 24 | $12.8B | $58.6B | ||
| Q2 24 | $11.6B | $58.4B | ||
| Q1 24 | $10.6B | $57.3B |
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 | $1.3B | $916.1M |
| 自由现金流经营现金流 - 资本支出 | — | $-67.3M |
| 自由现金流率自由现金流/营收 | — | -2.0% |
| 资本支出强度资本支出/营收 | — | 29.2% |
| 现金转化率经营现金流/净利润 | 1.32× | 2.16× |
| 过去12个月自由现金流最近4个季度 | — | $-45.1M |
8季度趋势，按日历期对齐
经营现金流ANETES
| Q4 25 | $1.3B | $916.1M | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $641.7M | $1.0B | ||
| Q4 24 | $1.0B | $642.1M | ||
| Q3 24 | $1.2B | $555.6M | ||
| Q2 24 | $989.0M | $670.7M | ||
| Q1 24 | $513.8M | $291.3M |
自由现金流ANETES
| Q4 25 | — | $-67.3M | ||
| Q3 25 | $1.2B | $-26.3M | ||
| Q2 25 | $1.2B | $15.3M | ||
| Q1 25 | $613.3M | $33.2M | ||
| Q4 24 | — | $-546.5M | ||
| Q3 24 | $1.2B | $-515.4M | ||
| Q2 24 | $985.9M | $-400.8M | ||
| Q1 24 | $504.4M | $-858.1M |
自由现金流率ANETES
| Q4 25 | — | -2.0% | ||
| Q3 25 | 53.6% | -0.8% | ||
| Q2 25 | 53.3% | 0.5% | ||
| Q1 25 | 30.6% | 0.8% | ||
| Q4 24 | — | -18.4% | ||
| Q3 24 | 64.5% | -16.8% | ||
| Q2 24 | 58.3% | -15.8% | ||
| Q1 24 | 32.1% | -25.7% |
资本支出强度ANETES
| Q4 25 | — | 29.2% | ||
| Q3 25 | 1.3% | 35.0% | ||
| Q2 25 | 1.1% | 36.7% | ||
| Q1 25 | 1.4% | 24.5% | ||
| Q4 24 | — | 40.0% | ||
| Q3 24 | 0.4% | 35.0% | ||
| Q2 24 | 0.2% | 42.3% | ||
| Q1 24 | 0.6% | 34.5% |
现金转化率ANETES
| Q4 25 | 1.32× | 2.16× | ||
| Q3 25 | 1.49× | 2.98× | ||
| Q2 25 | 1.35× | 2.98× | ||
| Q1 25 | 0.79× | 1.88× | ||
| Q4 24 | 1.29× | 8.63× | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 1.49× | 1.99× | ||
| Q1 24 | 0.81× | 0.56× |
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
ANET
| Products | $2.1B | 84% |
| Services | $392.1M | 16% |
ES
| Residential | $1.2B | 35% |
| Commercial | $789.0M | 23% |
| Eversource Electric Transmission | $573.8M | 17% |
| Wholesale Transmission Revenue | $570.0M | 17% |
| Industrial | $102.6M | 3% |
| Water Distribution Segment | $58.4M | 2% |
| Eversource Water | $56.3M | 2% |
| Other Revenue Adjustmentsfrom Contractswith Customers | $25.9M | 1% |
