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Apple Hospitality REIT, Inc.（APLE）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
Apple Hospitality REIT, Inc.的季度营收约是PLUG POWER INC的1.4倍（$326.4M vs $225.2M），Apple Hospitality REIT, Inc.净利率更高（9.1% vs -375.6%，领先384.7%），PLUG POWER INC同比增速更快（17.6% vs -2.0%），Apple Hospitality REIT, Inc.自由现金流更多（$282.0M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs -0.5%）
莱曼 hospitality properties是一家深耕酒店、度假村、娱乐及媒体领域的企业，得名于旗下核心资产——位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾作为爱德华·盖洛德旗下俄克拉荷马出版公司子公司的时期，1983年收购WSM公司后，拿下大奥普里等知名IP，奠定了如今的业务发展基础。
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。
APLE vs PLUG — 直观对比
营收规模更大
APLE
是对方的1.4倍
$225.2M
营收增速更快
PLUG
高出19.6%
-2.0%
净利率更高
APLE
高出384.7%
-375.6%
自由现金流更多
APLE
多$435.1M
$-153.0M
两年增速更快
PLUG
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $326.4M | $225.2M |
| 净利润 | $29.6M | $-846.0M |
| 毛利率 | 37.2% | 2.4% |
| 营业利润率 | 15.2% | -338.9% |
| 净利率 | 9.1% | -375.6% |
| 营收同比 | -2.0% | 17.6% |
| 净利润同比 | -0.7% | 36.7% |
| 每股收益（稀释后） | $0.13 | $-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APLEPLUG
| Q4 25 | $326.4M | $225.2M | ||
| Q3 25 | $373.9M | $177.1M | ||
| Q2 25 | $384.4M | $174.0M | ||
| Q1 25 | $327.7M | $133.7M | ||
| Q4 24 | $333.0M | $191.5M | ||
| Q3 24 | $378.8M | $173.7M | ||
| Q2 24 | $390.1M | $143.3M | ||
| Q1 24 | $329.5M | $120.3M |
净利润APLEPLUG
| Q4 25 | $29.6M | $-846.0M | ||
| Q3 25 | $50.9M | $-361.9M | ||
| Q2 25 | $63.6M | $-227.1M | ||
| Q1 25 | $31.2M | $-196.7M | ||
| Q4 24 | $29.8M | $-1.3B | ||
| Q3 24 | $56.3M | $-211.2M | ||
| Q2 24 | $73.9M | $-262.3M | ||
| Q1 24 | $54.0M | $-295.8M |
毛利率APLEPLUG
| Q4 25 | 37.2% | 2.4% | ||
| Q3 25 | 40.6% | -67.9% | ||
| Q2 25 | 42.6% | -30.7% | ||
| Q1 25 | 39.0% | -55.3% | ||
| Q4 24 | 38.6% | -122.5% | ||
| Q3 24 | 41.9% | -57.6% | ||
| Q2 24 | 44.6% | -91.6% | ||
| Q1 24 | 40.1% | -132.3% |
营业利润率APLEPLUG
| Q4 25 | 15.2% | -338.9% | ||
| Q3 25 | 19.4% | -197.0% | ||
| Q2 25 | 22.1% | -101.7% | ||
| Q1 25 | 15.5% | -133.5% | ||
| Q4 24 | 15.0% | -678.7% | ||
| Q3 24 | 20.5% | -124.4% | ||
| Q2 24 | 24.0% | -170.7% | ||
| Q1 24 | 21.7% | -215.7% |
净利率APLEPLUG
| Q4 25 | 9.1% | -375.6% | ||
| Q3 25 | 13.6% | -204.4% | ||
| Q2 25 | 16.6% | -130.5% | ||
| Q1 25 | 9.5% | -147.1% | ||
| Q4 24 | 9.0% | -697.5% | ||
| Q3 24 | 14.9% | -121.5% | ||
| Q2 24 | 19.0% | -183.0% | ||
| Q1 24 | 16.4% | -245.9% |
每股收益（稀释后）APLEPLUG
| Q4 25 | $0.13 | $-0.70 | ||
| Q3 25 | $0.21 | $-0.31 | ||
| Q2 25 | $0.27 | $-0.20 | ||
| Q1 25 | $0.13 | $-0.21 | ||
| Q4 24 | $0.13 | $-1.61 | ||
| Q3 24 | $0.23 | $-0.25 | ||
| Q2 24 | $0.31 | $-0.36 | ||
| Q1 24 | $0.22 | $-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 | $8.5M | $368.5M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $3.1B | $978.1M |
| 总资产 | $4.9B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.49× | — |
8季度趋势，按日历期对齐
现金及短期投资APLEPLUG
| Q4 25 | $8.5M | $368.5M | ||
| Q3 25 | $50.3M | $165.9M | ||
| Q2 25 | $7.9M | $140.7M | ||
| Q1 25 | $14.9M | $295.8M | ||
| Q4 24 | $10.3M | $205.7M | ||
| Q3 24 | $6.1M | $93.9M | ||
| Q2 24 | $7.2M | $62.4M | ||
| Q1 24 | $4.9M | $172.9M |
总债务APLEPLUG
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | $3.9M | ||
| Q2 24 | $1.5B | $3.7M | ||
| Q1 24 | $1.5B | $3.8M |
股东权益APLEPLUG
| Q4 25 | $3.1B | $978.1M | ||
| Q3 25 | $3.2B | $1.4B | ||
| Q2 25 | $3.2B | $1.7B | ||
| Q1 25 | $3.2B | $1.9B | ||
| Q4 24 | $3.3B | $1.7B | ||
| Q3 24 | $3.3B | $3.0B | ||
| Q2 24 | $3.3B | $3.0B | ||
| Q1 24 | $3.3B | $2.9B |
总资产APLEPLUG
| Q4 25 | $4.9B | $2.6B | ||
| Q3 25 | $4.9B | $3.1B | ||
| Q2 25 | $4.9B | $3.4B | ||
| Q1 25 | $4.9B | $3.6B | ||
| Q4 24 | $5.0B | $3.6B | ||
| Q3 24 | $5.0B | $4.7B | ||
| Q2 24 | $5.1B | $4.8B | ||
| Q1 24 | $5.0B | $4.8B |
负债/权益比APLEPLUG
| Q4 25 | 0.49× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.46× | 0.00× | ||
| Q2 24 | 0.46× | 0.00× | ||
| Q1 24 | 0.45× | 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 | $370.2M | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $282.0M | $-153.0M |
| 自由现金流率自由现金流/营收 | 86.4% | -67.9% |
| 资本支出强度资本支出/营收 | 27.0% | 1.9% |
| 现金转化率经营现金流/净利润 | 12.50× | — |
| 过去12个月自由现金流最近4个季度 | $516.8M | $-647.0M |
8季度趋势，按日历期对齐
经营现金流APLEPLUG
| Q4 25 | $370.2M | $-148.6M | ||
| Q3 25 | $126.4M | $-89.8M | ||
| Q2 25 | $108.8M | $-191.8M | ||
| Q1 25 | $49.1M | $-105.6M | ||
| Q4 24 | $405.4M | $-131.2M | ||
| Q3 24 | $128.2M | $-174.9M | ||
| Q2 24 | $127.3M | $-254.7M | ||
| Q1 24 | $54.7M | $-167.7M |
自由现金流APLEPLUG
| Q4 25 | $282.0M | $-153.0M | ||
| Q3 25 | $109.0M | $-117.5M | ||
| Q2 25 | $96.2M | $-230.4M | ||
| Q1 25 | $29.5M | $-146.0M | ||
| Q4 24 | $327.1M | $-165.2M | ||
| Q3 24 | $113.1M | $-234.2M | ||
| Q2 24 | $115.0M | $-356.0M | ||
| Q1 24 | $34.4M | $-260.3M |
自由现金流率APLEPLUG
| Q4 25 | 86.4% | -67.9% | ||
| Q3 25 | 29.2% | -66.4% | ||
| Q2 25 | 25.0% | -132.5% | ||
| Q1 25 | 9.0% | -109.2% | ||
| Q4 24 | 98.2% | -86.3% | ||
| Q3 24 | 29.9% | -134.8% | ||
| Q2 24 | 29.5% | -248.4% | ||
| Q1 24 | 10.4% | -216.5% |
资本支出强度APLEPLUG
| Q4 25 | 27.0% | 1.9% | ||
| Q3 25 | 4.7% | 15.6% | ||
| Q2 25 | 3.3% | 22.2% | ||
| Q1 25 | 6.0% | 30.3% | ||
| Q4 24 | 23.5% | 17.7% | ||
| Q3 24 | 4.0% | 34.1% | ||
| Q2 24 | 3.2% | 70.7% | ||
| Q1 24 | 6.2% | 77.0% |
现金转化率APLEPLUG
| Q4 25 | 12.50× | — | ||
| Q3 25 | 2.49× | — | ||
| Q2 25 | 1.71× | — | ||
| Q1 25 | 1.57× | — | ||
| Q4 24 | 13.59× | — | ||
| Q3 24 | 2.28× | — | ||
| Q2 24 | 1.72× | — | ||
| Q1 24 | 1.01× | — |
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
APLE
| Occupancy | $293.0M | 90% |
| Hotel Other | $17.2M | 5% |
| Food And Beverage | $16.3M | 5% |
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% |
