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Brookfield Renewable Partners L.P.（BEP）与CMS Energy（CMS）财务数据对比。点击上方公司名可切换其他公司
CMS Energy的季度营收约是Brookfield Renewable Partners L.P.的1.3倍（$2.1B vs $1.7B）。CMS Energy净利率更高（13.5% vs 5.9%，领先7.6%）。Brookfield Renewable Partners L.P.同比增速更快（14.2% vs 13.0%）
Brookfield Renewable Partners L.P.是一家公开上市的有限合伙企业，主营可再生能源资产的持有与运营，总部位于加拿大安大略省多伦多市，60%股权由布鲁克菲尔德资产管理公司持有，在可再生能源运营领域拥有深厚的行业积累与广泛的业务布局。
CMS Energy是总部位于美国密歇根州杰克逊市的能源企业，业务核心聚焦密歇根州公用事业运营。旗下核心主体Consumers Energy成立于1886年，为全州超600万居民提供电力及天然气服务，非公用事业板块则主要开展美国本土独立发电业务。
BEP vs CMS — 直观对比
营收规模更大
CMS
是对方的1.3倍
$1.7B
营收增速更快
BEP
高出1.2%
13.0%
净利率更高
CMS
高出7.6%
5.9%
损益表 — Q2 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.1B |
| 净利润 | $100.0M | $289.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 20.4% |
| 净利率 | 5.9% | 13.5% |
| 营收同比 | 14.2% | 13.0% |
| 净利润同比 | 213.6% | 9.1% |
| 每股收益（稀释后） | $-0.22 | $0.94 |
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BEPCMS
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | $1.7B | $1.8B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | — | $2.1B |
净利润BEPCMS
| Q4 25 | — | $289.0M | ||
| Q3 25 | — | $277.0M | ||
| Q2 25 | $100.0M | $201.0M | ||
| Q1 25 | — | $304.0M | ||
| Q4 24 | — | $265.0M | ||
| Q3 24 | — | $253.0M | ||
| Q2 24 | $-88.0M | $198.0M | ||
| Q1 24 | — | $287.0M |
营业利润率BEPCMS
| Q4 25 | — | 20.4% | ||
| Q3 25 | — | 24.4% | ||
| Q2 25 | — | 17.6% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 22.5% | ||
| Q3 24 | — | 21.4% | ||
| Q2 24 | — | 18.0% | ||
| Q1 24 | — | 19.2% |
净利率BEPCMS
| Q4 25 | — | 13.5% | ||
| Q3 25 | — | 14.0% | ||
| Q2 25 | 5.9% | 11.2% | ||
| Q1 25 | — | 12.7% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | — | 14.8% | ||
| Q2 24 | -5.9% | 12.6% | ||
| Q1 24 | — | 13.4% |
每股收益（稀释后）BEPCMS
| Q4 25 | — | $0.94 | ||
| Q3 25 | — | $0.92 | ||
| Q2 25 | $-0.22 | $0.66 | ||
| Q1 25 | — | $1.01 | ||
| Q4 24 | — | $0.88 | ||
| Q3 24 | — | $0.84 | ||
| Q2 24 | $-0.28 | $0.65 | ||
| Q1 24 | — | $0.96 |
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 | $1.9B | $509.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $33.3B | $9.1B |
| 总资产 | $98.6B | $39.9B |
| 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BEPCMS
| Q4 25 | — | $509.0M | ||
| Q3 25 | — | $362.0M | ||
| Q2 25 | $1.9B | $844.0M | ||
| Q1 25 | — | $465.0M | ||
| Q4 24 | — | $103.0M | ||
| Q3 24 | — | $412.0M | ||
| Q2 24 | $1.2B | $699.0M | ||
| Q1 24 | — | $802.0M |
股东权益BEPCMS
| Q4 25 | — | $9.1B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | $33.3B | $8.4B | ||
| Q1 25 | — | $8.3B | ||
| Q4 24 | — | $8.2B | ||
| Q3 24 | — | $8.1B | ||
| Q2 24 | $28.0B | $8.0B | ||
| Q1 24 | — | $7.9B |
总资产BEPCMS
| Q4 25 | — | $39.9B | ||
| Q3 25 | — | $38.0B | ||
| Q2 25 | $98.6B | $37.7B | ||
| Q1 25 | — | $36.3B | ||
| Q4 24 | — | $35.9B | ||
| Q3 24 | — | $34.8B | ||
| Q2 24 | $73.8B | $34.4B | ||
| Q1 24 | — | $33.9B |
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 | $379.0M | $478.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 3.79× | 1.65× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BEPCMS
| Q4 25 | — | $478.0M | ||
| Q3 25 | — | $343.0M | ||
| Q2 25 | $379.0M | $414.0M | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $403.0M | ||
| Q3 24 | — | $304.0M | ||
| Q2 24 | $231.0M | $707.0M | ||
| Q1 24 | — | $956.0M |
自由现金流BEPCMS
| Q4 25 | — | — | ||
| Q3 25 | — | $-635.0M | ||
| Q2 25 | — | $-470.0M | ||
| Q1 25 | — | $112.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-502.0M | ||
| Q2 24 | — | $26.0M | ||
| Q1 24 | — | $343.0M |
自由现金流率BEPCMS
| Q4 25 | — | — | ||
| Q3 25 | — | -32.2% | ||
| Q2 25 | — | -26.1% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -29.3% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 16.0% |
资本支出强度BEPCMS
| Q4 25 | — | — | ||
| Q3 25 | — | 49.5% | ||
| Q2 25 | — | 49.2% | ||
| Q1 25 | — | 37.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 47.1% | ||
| Q2 24 | — | 43.2% | ||
| Q1 24 | — | 28.6% |
现金转化率BEPCMS
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 1.24× | ||
| Q2 25 | 3.79× | 2.06× | ||
| Q1 25 | — | 3.29× | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | — | 1.20× | ||
| Q2 24 | — | 3.57× | ||
| Q1 24 | — | 3.33× |
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
BEP
暂无分部数据
CMS
| Electric Utility | $1.3B | 59% |
| Gas Utility | $803.0M | 38% |
| North Star Clean Energy | $77.0M | 4% |
