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ASSOCIATED BANC-CORP（ASB）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
ASSOCIATED BANC-CORP的季度营收约是PLUG POWER INC的1.7倍（$383.0M vs $225.2M），ASSOCIATED BANC-CORP净利率更高（31.2% vs -375.6%，领先406.9%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 9.1%）
联合银行集团（Associated Banc-Corp）是美国区域性银行控股公司，总部位于威斯康星州格林贝，深耕美国中西部地区，主营零售银行、商业银行、商业地产贷款、私人银行及特色金融服务，在威斯康星州、伊利诺伊州、明尼苏达州设有220多个营业网点，覆盖100多个社区，还在印第安纳、密歇根等多州设有贷款办事处。
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。
ASB vs PLUG — 直观对比
营收规模更大
ASB
是对方的1.7倍
$225.2M
净利率更高
ASB
高出406.9%
-375.6%
两年增速更快
PLUG
近两年复合增速
9.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $383.0M | $225.2M |
| 净利润 | $119.6M | $-846.0M |
| 毛利率 | — | 2.4% |
| 营业利润率 | — | -338.9% |
| 净利率 | 31.2% | -375.6% |
| 营收同比 | — | 17.6% |
| 净利润同比 | 566.6% | 36.7% |
| 每股收益（稀释后） | $0.70 | $-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ASBPLUG
| Q1 26 | $383.0M | — | ||
| Q4 25 | $310.0M | $225.2M | ||
| Q3 25 | $305.2M | $177.1M | ||
| Q2 25 | $300.0M | $174.0M | ||
| Q1 25 | $285.9M | $133.7M | ||
| Q4 24 | $270.3M | $191.5M | ||
| Q3 24 | $329.7M | $173.7M | ||
| Q2 24 | $321.8M | $143.3M |
净利润ASBPLUG
| Q1 26 | $119.6M | — | ||
| Q4 25 | $137.1M | $-846.0M | ||
| Q3 25 | $124.7M | $-361.9M | ||
| Q2 25 | $111.2M | $-227.1M | ||
| Q1 25 | $101.7M | $-196.7M | ||
| Q4 24 | $-161.6M | $-1.3B | ||
| Q3 24 | $88.0M | $-211.2M | ||
| Q2 24 | $115.6M | $-262.3M |
毛利率ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | -67.9% | ||
| Q2 25 | — | -30.7% | ||
| Q1 25 | — | -55.3% | ||
| Q4 24 | — | -122.5% | ||
| Q3 24 | — | -57.6% | ||
| Q2 24 | — | -91.6% |
营业利润率ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | 52.6% | -338.9% | ||
| Q3 25 | 50.5% | -197.0% | ||
| Q2 25 | 46.5% | -101.7% | ||
| Q1 25 | 42.3% | -133.5% | ||
| Q4 24 | -65.8% | -678.7% | ||
| Q3 24 | 32.8% | -124.4% | ||
| Q2 24 | 32.0% | -170.7% |
净利率ASBPLUG
| Q1 26 | 31.2% | — | ||
| Q4 25 | 44.2% | -375.6% | ||
| Q3 25 | 40.9% | -204.4% | ||
| Q2 25 | 37.1% | -130.5% | ||
| Q1 25 | 35.6% | -147.1% | ||
| Q4 24 | -59.8% | -697.5% | ||
| Q3 24 | 26.7% | -121.5% | ||
| Q2 24 | 35.9% | -183.0% |
每股收益（稀释后）ASBPLUG
| Q1 26 | $0.70 | — | ||
| Q4 25 | $0.80 | $-0.70 | ||
| Q3 25 | $0.73 | $-0.31 | ||
| Q2 25 | $0.65 | $-0.20 | ||
| Q1 25 | $0.59 | $-0.21 | ||
| Q4 24 | $-1.10 | $-1.61 | ||
| Q3 24 | $0.56 | $-0.25 | ||
| Q2 24 | $0.74 | $-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 | — | $368.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $5.0B | $978.1M |
| 总资产 | $45.6B | $2.6B |
| 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ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | — | $368.5M | ||
| Q3 25 | — | $165.9M | ||
| Q2 25 | — | $140.7M | ||
| Q1 25 | — | $295.8M | ||
| Q4 24 | — | $205.7M | ||
| Q3 24 | — | $93.9M | ||
| Q2 24 | — | $62.4M |
总债务ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $594.1M | — | ||
| Q2 25 | $593.5M | — | ||
| Q1 25 | $591.4M | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $844.3M | $3.9M | ||
| Q2 24 | $536.1M | $3.7M |
股东权益ASBPLUG
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $978.1M | ||
| Q3 25 | $4.9B | $1.4B | ||
| Q2 25 | $4.8B | $1.7B | ||
| Q1 25 | $4.7B | $1.9B | ||
| Q4 24 | $4.6B | $1.7B | ||
| Q3 24 | $4.4B | $3.0B | ||
| Q2 24 | $4.2B | $3.0B |
总资产ASBPLUG
| Q1 26 | $45.6B | — | ||
| Q4 25 | $45.2B | $2.6B | ||
| Q3 25 | $44.5B | $3.1B | ||
| Q2 25 | $44.0B | $3.4B | ||
| Q1 25 | $43.3B | $3.6B | ||
| Q4 24 | $43.0B | $3.6B | ||
| Q3 24 | $42.2B | $4.7B | ||
| Q2 24 | $41.6B | $4.8B |
负债/权益比ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.19× | 0.00× | ||
| Q2 24 | 0.13× | 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 | — | $-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 | — | 1.9% |
| 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 | — | $-647.0M |
8季度趋势，按日历期对齐
经营现金流ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | $218.1M | $-148.6M | ||
| Q3 25 | $158.0M | $-89.8M | ||
| Q2 25 | $141.5M | $-191.8M | ||
| Q1 25 | $98.2M | $-105.6M | ||
| Q4 24 | $207.1M | $-131.2M | ||
| Q3 24 | $105.1M | $-174.9M | ||
| Q2 24 | $113.5M | $-254.7M |
自由现金流ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | — | $-153.0M | ||
| Q3 25 | — | $-117.5M | ||
| Q2 25 | — | $-230.4M | ||
| Q1 25 | — | $-146.0M | ||
| Q4 24 | — | $-165.2M | ||
| Q3 24 | — | $-234.2M | ||
| Q2 24 | — | $-356.0M |
自由现金流率ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | — | -67.9% | ||
| Q3 25 | — | -66.4% | ||
| Q2 25 | — | -132.5% | ||
| Q1 25 | — | -109.2% | ||
| Q4 24 | — | -86.3% | ||
| Q3 24 | — | -134.8% | ||
| Q2 24 | — | -248.4% |
资本支出强度ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.6% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 17.7% | ||
| Q3 24 | — | 34.1% | ||
| Q2 24 | — | 70.7% |
现金转化率ASBPLUG
| Q1 26 | — | — | ||
| Q4 25 | 1.59× | — | ||
| Q3 25 | 1.27× | — | ||
| Q2 25 | 1.27× | — | ||
| Q1 25 | 0.97× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | 0.98× | — |
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
ASB
| Net Interest Income | $307.2M | 80% |
| Noninterest Income | $75.9M | 20% |
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% |
