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APOGEE ENTERPRISES, INC.（APOG）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
APOGEE ENTERPRISES, INC.的季度营收约是PLUG POWER INC的1.6倍（$351.4M vs $225.2M），APOGEE ENTERPRISES, INC.净利率更高（4.7% vs -375.6%，领先380.3%），PLUG POWER INC同比增速更快（17.6% vs 1.6%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 2.9%）
Apogee Enterprises是一家美国音频设备制造商，主营音频接口、模数与数模转换器、USB及iOS麦克风，同时还开发音频制作相关软件，产品广泛服务于专业录音、音乐创作等音频领域，在全球音频行业拥有较高的认可度。
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。
APOG vs PLUG — 直观对比
营收规模更大
APOG
是对方的1.6倍
$225.2M
营收增速更快
PLUG
高出16.0%
1.6%
净利率更高
APOG
高出380.3%
-375.6%
两年增速更快
PLUG
近两年复合增速
2.9%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $351.4M | $225.2M |
| 净利润 | $16.6M | $-846.0M |
| 毛利率 | 22.4% | 2.4% |
| 营业利润率 | 7.3% | -338.9% |
| 净利率 | 4.7% | -375.6% |
| 营收同比 | 1.6% | 17.6% |
| 净利润同比 | 568.8% | 36.7% |
| 每股收益（稀释后） | $0.78 | $-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APOGPLUG
| Q1 26 | $351.4M | — | ||
| Q4 25 | $348.6M | $225.2M | ||
| Q3 25 | $358.2M | $177.1M | ||
| Q2 25 | $346.6M | $174.0M | ||
| Q1 25 | $345.7M | $133.7M | ||
| Q4 24 | $341.3M | $191.5M | ||
| Q3 24 | $342.4M | $173.7M | ||
| Q2 24 | $331.5M | $143.3M |
净利润APOGPLUG
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $-846.0M | ||
| Q3 25 | $23.6M | $-361.9M | ||
| Q2 25 | $-2.7M | $-227.1M | ||
| Q1 25 | $2.5M | $-196.7M | ||
| Q4 24 | $21.0M | $-1.3B | ||
| Q3 24 | $30.6M | $-211.2M | ||
| Q2 24 | $31.0M | $-262.3M |
毛利率APOGPLUG
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | 2.4% | ||
| Q3 25 | 23.1% | -67.9% | ||
| Q2 25 | 21.7% | -30.7% | ||
| Q1 25 | 21.6% | -55.3% | ||
| Q4 24 | 26.1% | -122.5% | ||
| Q3 24 | 28.4% | -57.6% | ||
| Q2 24 | 29.8% | -91.6% |
营业利润率APOGPLUG
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | -338.9% | ||
| Q3 25 | 7.5% | -197.0% | ||
| Q2 25 | 2.0% | -101.7% | ||
| Q1 25 | 1.8% | -133.5% | ||
| Q4 24 | 8.4% | -678.7% | ||
| Q3 24 | 12.3% | -124.4% | ||
| Q2 24 | 12.5% | -170.7% |
净利率APOGPLUG
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | -375.6% | ||
| Q3 25 | 6.6% | -204.4% | ||
| Q2 25 | -0.8% | -130.5% | ||
| Q1 25 | 0.7% | -147.1% | ||
| Q4 24 | 6.1% | -697.5% | ||
| Q3 24 | 8.9% | -121.5% | ||
| Q2 24 | 9.4% | -183.0% |
每股收益（稀释后）APOGPLUG
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $-0.70 | ||
| Q3 25 | $1.10 | $-0.31 | ||
| Q2 25 | $-0.13 | $-0.20 | ||
| Q1 25 | $0.12 | $-0.21 | ||
| Q4 24 | $0.96 | $-1.61 | ||
| Q3 24 | $1.40 | $-0.25 | ||
| Q2 24 | $1.41 | $-0.36 |
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 | $39.5M | $368.5M |
| 总债务越低越好 | $232.3M | — |
| 股东权益账面价值 | $511.8M | $978.1M |
| 总资产 | $1.1B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.45× | — |
8季度趋势，按日历期对齐
现金及短期投资APOGPLUG
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | $368.5M | ||
| Q3 25 | $39.5M | $165.9M | ||
| Q2 25 | $32.8M | $140.7M | ||
| Q1 25 | $41.4M | $295.8M | ||
| Q4 24 | $43.9M | $205.7M | ||
| Q3 24 | $51.0M | $93.9M | ||
| Q2 24 | $30.4M | $62.4M |
总债务APOGPLUG
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $285.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | — | $3.7M |
股东权益APOGPLUG
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | $978.1M | ||
| Q3 25 | $500.2M | $1.4B | ||
| Q2 25 | $481.8M | $1.7B | ||
| Q1 25 | $487.9M | $1.9B | ||
| Q4 24 | $522.1M | $1.7B | ||
| Q3 24 | $506.4M | $3.0B | ||
| Q2 24 | $480.0M | $3.0B |
总资产APOGPLUG
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $2.6B | ||
| Q3 25 | $1.2B | $3.1B | ||
| Q2 25 | $1.2B | $3.4B | ||
| Q1 25 | $1.2B | $3.6B | ||
| Q4 24 | $1.2B | $3.6B | ||
| Q3 24 | $917.1M | $4.7B | ||
| Q2 24 | $889.0M | $4.8B |
负债/权益比APOGPLUG
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 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 | $122.5M | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | — | $-153.0M |
| 自由现金流率自由现金流/营收 | — | -67.9% |
| 资本支出强度资本支出/营收 | 7.8% | 1.9% |
| 现金转化率经营现金流/净利润 | 7.37× | — |
| 过去12个月自由现金流最近4个季度 | — | $-647.0M |
8季度趋势，按日历期对齐
经营现金流APOGPLUG
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $-148.6M | ||
| Q3 25 | $57.1M | $-89.8M | ||
| Q2 25 | $-19.8M | $-191.8M | ||
| Q1 25 | $30.0M | $-105.6M | ||
| Q4 24 | $31.0M | $-131.2M | ||
| Q3 24 | $58.7M | $-174.9M | ||
| Q2 24 | $5.5M | $-254.7M |
自由现金流APOGPLUG
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $-153.0M | ||
| Q3 25 | $52.4M | $-117.5M | ||
| Q2 25 | $-26.9M | $-230.4M | ||
| Q1 25 | $19.1M | $-146.0M | ||
| Q4 24 | $22.0M | $-165.2M | ||
| Q3 24 | $50.2M | $-234.2M | ||
| Q2 24 | $-1.8M | $-356.0M |
自由现金流率APOGPLUG
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | -67.9% | ||
| Q3 25 | 14.6% | -66.4% | ||
| Q2 25 | -7.8% | -132.5% | ||
| Q1 25 | 5.5% | -109.2% | ||
| Q4 24 | 6.4% | -86.3% | ||
| Q3 24 | 14.7% | -134.8% | ||
| Q2 24 | -0.5% | -248.4% |
资本支出强度APOGPLUG
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 1.9% | ||
| Q3 25 | 1.3% | 15.6% | ||
| Q2 25 | 2.1% | 22.2% | ||
| Q1 25 | 3.2% | 30.3% | ||
| Q4 24 | 2.6% | 17.7% | ||
| Q3 24 | 2.5% | 34.1% | ||
| Q2 24 | 2.2% | 70.7% |
现金转化率APOGPLUG
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | — | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 12.08× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.92× | — | ||
| Q2 24 | 0.18× | — |
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
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
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% |
