vs
Array Technologies, Inc.（ARRY）与Clearway Energy, Inc.（CWEN）财务数据对比。点击上方公司名可切换其他公司
Clearway Energy, Inc.的季度营收约是Array Technologies, Inc.的1.4倍（$310.0M vs $226.0M），Clearway Energy, Inc.同比增速更快（21.1% vs -17.9%），Clearway Energy, Inc.自由现金流更多（$71.0M vs $36.2M），过去两年Array Technologies, Inc.的营收复合增速更高（21.4% vs 8.6%）
ATI科技是原加拿大半导体科技企业，总部位于安大略省万锦市，专注于图形处理器与芯片组的研发，1985年成立，1993年公开上市，2006年被AMD收购。作为全球知名的无晶圆厂半导体厂商，其掌握自研核心技术，生产组装环节采用外包模式。2000年3dfx破产后，ATI成为全球图形芯片领域的核心厂商之一。
NRG能源是总部位于美国得克萨斯州休斯敦的能源企业，前身为后续更名为埃克西尔能源的北方州电力公司的批发业务板块，2000年独立运营。业务覆盖发电与电力零售，拥有天然气、煤炭、石油、核能、风电、公用事业级及分布式太阳能等发电资产，服务超700万零售用户。
ARRY vs CWEN — 直观对比
营收规模更大
CWEN
是对方的1.4倍
$226.0M
营收增速更快
CWEN
高出39.0%
-17.9%
自由现金流更多
CWEN
多$34.8M
$36.2M
两年增速更快
ARRY
近两年复合增速
8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $226.0M | $310.0M |
| 净利润 | — | $-104.0M |
| 毛利率 | 8.6% | 51.9% |
| 营业利润率 | -65.5% | -11.9% |
| 净利率 | — | -33.5% |
| 营收同比 | -17.9% | 21.1% |
| 净利润同比 | — | -3566.7% |
| 每股收益（稀释后） | $-1.06 | — |
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ARRYCWEN
| Q4 25 | $226.0M | $310.0M | ||
| Q3 25 | $393.5M | $429.0M | ||
| Q2 25 | $362.2M | $392.0M | ||
| Q1 25 | $302.4M | $298.0M | ||
| Q4 24 | $275.2M | $256.0M | ||
| Q3 24 | $231.4M | $486.0M | ||
| Q2 24 | $255.8M | $366.0M | ||
| Q1 24 | $153.4M | $263.0M |
净利润ARRYCWEN
| Q4 25 | — | $-104.0M | ||
| Q3 25 | $33.5M | $236.0M | ||
| Q2 25 | $43.3M | $33.0M | ||
| Q1 25 | $16.7M | $4.0M | ||
| Q4 24 | — | $3.0M | ||
| Q3 24 | $-141.4M | $36.0M | ||
| Q2 24 | $25.7M | $51.0M | ||
| Q1 24 | $2.2M | $-2.0M |
毛利率ARRYCWEN
| Q4 25 | 8.6% | 51.9% | ||
| Q3 25 | 26.9% | 70.2% | ||
| Q2 25 | 26.8% | 66.6% | ||
| Q1 25 | 25.3% | 59.1% | ||
| Q4 24 | 28.5% | 52.0% | ||
| Q3 24 | 33.8% | 72.2% | ||
| Q2 24 | 33.6% | 68.0% | ||
| Q1 24 | 35.9% | 52.1% |
营业利润率ARRYCWEN
| Q4 25 | -65.5% | -11.9% | ||
| Q3 25 | 11.6% | 26.1% | ||
| Q2 25 | 12.8% | 21.7% | ||
| Q1 25 | 9.0% | — | ||
| Q4 24 | -51.7% | -14.5% | ||
| Q3 24 | -57.3% | 36.6% | ||
| Q2 24 | 15.5% | 23.0% | ||
| Q1 24 | 5.5% | -11.0% |
净利率ARRYCWEN
| Q4 25 | — | -33.5% | ||
| Q3 25 | 8.5% | 55.0% | ||
| Q2 25 | 11.9% | 8.4% | ||
| Q1 25 | 5.5% | 1.3% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | -61.1% | 7.4% | ||
| Q2 24 | 10.0% | 13.9% | ||
| Q1 24 | 1.4% | -0.8% |
每股收益（稀释后）ARRYCWEN
| Q4 25 | $-1.06 | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $0.19 | — | ||
| Q1 25 | $0.02 | — | ||
| Q4 24 | $-0.94 | — | ||
| Q3 24 | $-1.02 | — | ||
| Q2 24 | $0.08 | — | ||
| Q1 24 | $-0.07 | — |
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 | $244.4M | $231.0M |
| 总债务越低越好 | — | $7.9B |
| 股东权益账面价值 | $-206.3M | $5.8B |
| 总资产 | $1.5B | $16.7B |
| 负债/权益比越低杠杆越低 | — | 1.36× |
8季度趋势，按日历期对齐
现金及短期投资ARRYCWEN
| Q4 25 | $244.4M | $231.0M | ||
| Q3 25 | $221.5M | $251.0M | ||
| Q2 25 | $377.3M | $260.0M | ||
| Q1 25 | $348.3M | $297.0M | ||
| Q4 24 | $363.0M | $332.0M | ||
| Q3 24 | $332.4M | $292.0M | ||
| Q2 24 | $282.3M | $226.0M | ||
| Q1 24 | $287.6M | $478.0M |
总债务ARRYCWEN
| Q4 25 | — | $7.9B | ||
| Q3 25 | — | $8.1B | ||
| Q2 25 | — | $8.3B | ||
| Q1 25 | — | $7.2B | ||
| Q4 24 | — | $6.8B | ||
| Q3 24 | — | $6.7B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $7.6B |
股东权益ARRYCWEN
| Q4 25 | $-206.3M | $5.8B | ||
| Q3 25 | $-46.7M | $5.7B | ||
| Q2 25 | $-70.9M | $5.5B | ||
| Q1 25 | $-97.8M | $5.4B | ||
| Q4 24 | $-118.1M | $5.6B | ||
| Q3 24 | $64.5M | $5.6B | ||
| Q2 24 | $200.0M | $5.7B | ||
| Q1 24 | $231.2M | $5.0B |
总资产ARRYCWEN
| Q4 25 | $1.5B | $16.7B | ||
| Q3 25 | $1.6B | $16.1B | ||
| Q2 25 | $1.5B | $16.0B | ||
| Q1 25 | $1.4B | $14.6B | ||
| Q4 24 | $1.4B | $14.3B | ||
| Q3 24 | $1.6B | $14.2B | ||
| Q2 24 | $1.7B | $14.5B | ||
| Q1 24 | $1.6B | $14.9B |
负债/权益比ARRYCWEN
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | — | 1.49× | ||
| Q1 25 | — | 1.33× | ||
| Q4 24 | — | 1.21× | ||
| Q3 24 | — | 1.20× | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | 1.50× |
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 | $43.6M | $177.0M |
| 自由现金流经营现金流 - 资本支出 | $36.2M | $71.0M |
| 自由现金流率自由现金流/营收 | 16.0% | 22.9% |
| 资本支出强度资本支出/营收 | 3.3% | 34.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $79.8M | $369.0M |
8季度趋势，按日历期对齐
经营现金流ARRYCWEN
| Q4 25 | $43.6M | $177.0M | ||
| Q3 25 | $27.4M | $225.0M | ||
| Q2 25 | $43.8M | $191.0M | ||
| Q1 25 | $-13.1M | $95.0M | ||
| Q4 24 | $57.6M | $192.0M | ||
| Q3 24 | $44.9M | $301.0M | ||
| Q2 24 | $4.0M | $196.0M | ||
| Q1 24 | $47.5M | $81.0M |
自由现金流ARRYCWEN
| Q4 25 | $36.2M | $71.0M | ||
| Q3 25 | $21.9M | $144.0M | ||
| Q2 25 | $37.2M | $115.0M | ||
| Q1 25 | $-15.4M | $39.0M | ||
| Q4 24 | $55.9M | $142.0M | ||
| Q3 24 | $43.9M | $266.0M | ||
| Q2 24 | $1.8M | $92.0M | ||
| Q1 24 | $45.1M | $-17.0M |
自由现金流率ARRYCWEN
| Q4 25 | 16.0% | 22.9% | ||
| Q3 25 | 5.6% | 33.6% | ||
| Q2 25 | 10.3% | 29.3% | ||
| Q1 25 | -5.1% | 13.1% | ||
| Q4 24 | 20.3% | 55.5% | ||
| Q3 24 | 19.0% | 54.7% | ||
| Q2 24 | 0.7% | 25.1% | ||
| Q1 24 | 29.4% | -6.5% |
资本支出强度ARRYCWEN
| Q4 25 | 3.3% | 34.2% | ||
| Q3 25 | 1.4% | 18.9% | ||
| Q2 25 | 1.8% | 19.4% | ||
| Q1 25 | 0.8% | 18.8% | ||
| Q4 24 | 0.6% | 19.5% | ||
| Q3 24 | 0.5% | 7.2% | ||
| Q2 24 | 0.8% | 28.4% | ||
| Q1 24 | 1.6% | 37.3% |
现金转化率ARRYCWEN
| Q4 25 | — | — | ||
| Q3 25 | 0.82× | 0.95× | ||
| Q2 25 | 1.01× | 5.79× | ||
| Q1 25 | -0.78× | 23.75× | ||
| Q4 24 | — | 64.00× | ||
| Q3 24 | — | 8.36× | ||
| Q2 24 | 0.15× | 3.84× | ||
| Q1 24 | 21.94× | — |
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
ARRY
| Array Legacy Operations Segment | $212.0M | 94% |
| STI Operations Segment | $14.0M | 6% |
CWEN
暂无分部数据
