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波尔公司（BALL）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是波尔公司的1.3倍（$4.8B vs $3.6B），波尔公司净利率更高（5.7% vs 4.8%，领先0.8%），Vistra Corp.同比增速更快（31.2% vs 16.3%），Vistra Corp.自由现金流更多（$596.0M vs $-938.0M），过去两年Vistra Corp.的营收复合增速更高（23.3% vs 10.3%）
波尔公司是全球领先的可持续铝制包装解决方案供应商，为饮料、个护、家居产品领域的品牌提供创新包装产品，同时旗下航空航天板块为政府及商业客户提供先进技术、系统与相关服务，全业务线高度重视环保责任与产品可靠性。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
BALL vs VST — 直观对比
营收规模更大
VST
是对方的1.3倍
$3.6B
营收增速更快
VST
高出14.9%
16.3%
净利率更高
BALL
高出0.8%
4.8%
自由现金流更多
VST
多$1.5B
$-938.0M
两年增速更快
VST
近两年复合增速
10.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $4.8B |
| 净利润 | $205.0M | $233.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 9.9% |
| 净利率 | 5.7% | 4.8% |
| 营收同比 | 16.3% | 31.2% |
| 净利润同比 | 14.5% | -47.2% |
| 每股收益（稀释后） | $0.77 | $0.55 |
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BALLVST
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.3B | $4.8B | ||
| Q3 25 | $3.4B | $4.8B | ||
| Q2 25 | $3.3B | $3.8B | ||
| Q1 25 | $3.1B | $4.3B | ||
| Q4 24 | $2.9B | $3.7B | ||
| Q3 24 | $3.1B | $4.3B | ||
| Q2 24 | $3.0B | $3.6B |
净利润BALLVST
| Q1 26 | $205.0M | — | ||
| Q4 25 | $200.0M | $233.0M | ||
| Q3 25 | $321.0M | $652.0M | ||
| Q2 25 | $215.0M | $327.0M | ||
| Q1 25 | $179.0M | $-268.0M | ||
| Q4 24 | $-30.0M | $441.0M | ||
| Q3 24 | $199.0M | $1.9B | ||
| Q2 24 | $159.0M | $365.0M |
毛利率BALLVST
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.7% | — | ||
| Q2 24 | 16.5% | — |
营业利润率BALLVST
| Q1 26 | — | — | ||
| Q4 25 | 7.2% | 9.9% | ||
| Q3 25 | 11.6% | 21.7% | ||
| Q2 25 | 8.0% | 13.7% | ||
| Q1 25 | 7.4% | -2.8% | ||
| Q4 24 | 0.2% | 16.4% | ||
| Q3 24 | 7.4% | 59.6% | ||
| Q2 24 | 6.8% | 22.5% |
净利率BALLVST
| Q1 26 | 5.7% | — | ||
| Q4 25 | 6.0% | 4.8% | ||
| Q3 25 | 9.5% | 13.6% | ||
| Q2 25 | 6.4% | 8.7% | ||
| Q1 25 | 5.8% | -6.3% | ||
| Q4 24 | -1.0% | 12.0% | ||
| Q3 24 | 6.5% | 43.5% | ||
| Q2 24 | 5.4% | 10.1% |
每股收益（稀释后）BALLVST
| Q1 26 | $0.77 | — | ||
| Q4 25 | $0.73 | $0.55 | ||
| Q3 25 | $1.18 | $1.75 | ||
| Q2 25 | $0.76 | $0.81 | ||
| Q1 25 | $0.63 | $-0.93 | ||
| Q4 24 | $0.23 | $1.09 | ||
| Q3 24 | $0.65 | $5.25 | ||
| Q2 24 | $0.51 | $0.90 |
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 | $730.0M | $785.0M |
| 总债务越低越好 | $7.0B | $15.8B |
| 股东权益账面价值 | $5.6B | $5.1B |
| 总资产 | $19.8B | $41.5B |
| 负债/权益比越低杠杆越低 | 1.25× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资BALLVST
| Q1 26 | $730.0M | — | ||
| Q4 25 | $1.2B | $785.0M | ||
| Q3 25 | $568.0M | $602.0M | ||
| Q2 25 | $296.0M | $458.0M | ||
| Q1 25 | $449.0M | $561.0M | ||
| Q4 24 | $885.0M | $1.2B | ||
| Q3 24 | $1.4B | $905.0M | ||
| Q2 24 | $1.3B | $1.6B |
总债务BALLVST
| Q1 26 | $7.0B | — | ||
| Q4 25 | $7.0B | $15.8B | ||
| Q3 25 | $6.9B | $15.8B | ||
| Q2 25 | $6.5B | $15.5B | ||
| Q1 25 | $6.1B | $15.4B | ||
| Q4 24 | $5.3B | $15.4B | ||
| Q3 24 | $5.4B | $13.9B | ||
| Q2 24 | $5.5B | $13.9B |
股东权益BALLVST
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.4B | $5.1B | ||
| Q3 25 | $5.4B | $5.2B | ||
| Q2 25 | $5.2B | $4.8B | ||
| Q1 25 | $5.5B | $4.8B | ||
| Q4 24 | $5.9B | $5.6B | ||
| Q3 24 | $6.7B | $5.4B | ||
| Q2 24 | $6.9B | $5.6B |
总资产BALLVST
| Q1 26 | $19.8B | — | ||
| Q4 25 | $19.5B | $41.5B | ||
| Q3 25 | $18.7B | $38.0B | ||
| Q2 25 | $18.6B | $38.1B | ||
| Q1 25 | $18.0B | $38.2B | ||
| Q4 24 | $17.6B | $37.8B | ||
| Q3 24 | $18.8B | $37.9B | ||
| Q2 24 | $19.0B | $39.1B |
负债/权益比BALLVST
| Q1 26 | 1.25× | — | ||
| Q4 25 | 1.29× | 3.11× | ||
| Q3 25 | 1.26× | 3.02× | ||
| Q2 25 | 1.24× | 3.22× | ||
| Q1 25 | 1.12× | 3.20× | ||
| Q4 24 | 0.91× | 2.77× | ||
| Q3 24 | 0.80× | 2.56× | ||
| Q2 24 | 0.80× | 2.49× |
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 | — | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $-938.0M | $596.0M |
| 自由现金流率自由现金流/营收 | -26.0% | 12.4% |
| 资本支出强度资本支出/营收 | 4.5% | 17.4% |
| 现金转化率经营现金流/净利润 | — | 6.15× |
| 过去12个月自由现金流最近4个季度 | $596.0M | $1.3B |
8季度趋势，按日历期对齐
经营现金流BALLVST
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $384.0M | $1.5B | ||
| Q2 25 | $332.0M | $572.0M | ||
| Q1 25 | $-665.0M | $599.0M | ||
| Q4 24 | $500.0M | $1.4B | ||
| Q3 24 | $610.0M | $1.7B | ||
| Q2 24 | $252.0M | $1.2B |
自由现金流BALLVST
| Q1 26 | $-938.0M | — | ||
| Q4 25 | $1.0B | $596.0M | ||
| Q3 25 | $257.0M | $1.0B | ||
| Q2 25 | $236.0M | $-118.0M | ||
| Q1 25 | $-746.0M | $-169.0M | ||
| Q4 24 | $393.0M | $923.0M | ||
| Q3 24 | $493.0M | $1.0B | ||
| Q2 24 | $146.0M | $698.0M |
自由现金流率BALLVST
| Q1 26 | -26.0% | — | ||
| Q4 25 | 31.1% | 12.4% | ||
| Q3 25 | 7.6% | 21.1% | ||
| Q2 25 | 7.1% | -3.1% | ||
| Q1 25 | -24.1% | -4.0% | ||
| Q4 24 | 13.6% | 25.2% | ||
| Q3 24 | 16.0% | 23.4% | ||
| Q2 24 | 4.9% | 19.4% |
资本支出强度BALLVST
| Q1 26 | 4.5% | — | ||
| Q4 25 | 5.1% | 17.4% | ||
| Q3 25 | 3.8% | 9.6% | ||
| Q2 25 | 2.9% | 18.4% | ||
| Q1 25 | 2.6% | 18.1% | ||
| Q4 24 | 3.7% | 11.7% | ||
| Q3 24 | 3.8% | 15.8% | ||
| Q2 24 | 3.6% | 13.8% |
现金转化率BALLVST
| Q1 26 | — | — | ||
| Q4 25 | 6.05× | 6.15× | ||
| Q3 25 | 1.20× | 2.25× | ||
| Q2 25 | 1.54× | 1.75× | ||
| Q1 25 | -3.72× | — | ||
| Q4 24 | — | 3.07× | ||
| Q3 24 | 3.07× | 0.90× | ||
| Q2 24 | 1.58× | 3.28× |
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
BALL
| Beverage packaging, North and Central America | $1.8B | 49% |
| Beverage packaging, EMEA | $1.1B | 31% |
| Beverage packaging, South America | $585.0M | 16% |
| Other | $131.0M | 4% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
