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B&G Foods, Inc.（BGS）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
B&G Foods, Inc.的季度营收约是PLUG POWER INC的2.0倍（$439.3M vs $225.2M），B&G Foods, Inc.净利率更高（-4.4% vs -375.6%，领先371.3%），PLUG POWER INC同比增速更快（17.6% vs -4.7%），B&G Foods, Inc.自由现金流更多（$-70.7M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs -12.8%）
B&G Foods是总部位于美国新泽西州帕西帕尼的品牌食品控股企业，创立于1996年，成立初衷是收购1889年诞生于曼哈顿的酸黄瓜、调味酱及调味品生产商Bloch & Guggenheimer，如今在北美食品领域拥有众多知名品牌。
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。
BGS vs PLUG — 直观对比
营收规模更大
BGS
是对方的2.0倍
$225.2M
营收增速更快
PLUG
高出22.3%
-4.7%
净利率更高
BGS
高出371.3%
-375.6%
自由现金流更多
BGS
多$82.3M
$-153.0M
两年增速更快
PLUG
近两年复合增速
-12.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $439.3M | $225.2M |
| 净利润 | $-19.1M | $-846.0M |
| 毛利率 | 22.5% | 2.4% |
| 营业利润率 | 2.5% | -338.9% |
| 净利率 | -4.4% | -375.6% |
| 营收同比 | -4.7% | 17.6% |
| 净利润同比 | -356.5% | 36.7% |
| 每股收益（稀释后） | $-0.24 | $-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BGSPLUG
| Q4 25 | — | $225.2M | ||
| Q3 25 | $439.3M | $177.1M | ||
| Q2 25 | $424.4M | $174.0M | ||
| Q1 25 | $425.4M | $133.7M | ||
| Q4 24 | $551.6M | $191.5M | ||
| Q3 24 | $461.1M | $173.7M | ||
| Q2 24 | $444.6M | $143.3M | ||
| Q1 24 | $475.2M | $120.3M |
净利润BGSPLUG
| Q4 25 | — | $-846.0M | ||
| Q3 25 | $-19.1M | $-361.9M | ||
| Q2 25 | $-9.8M | $-227.1M | ||
| Q1 25 | $835.0K | $-196.7M | ||
| Q4 24 | $-222.4M | $-1.3B | ||
| Q3 24 | $7.5M | $-211.2M | ||
| Q2 24 | $3.9M | $-262.3M | ||
| Q1 24 | $-40.2M | $-295.8M |
毛利率BGSPLUG
| Q4 25 | — | 2.4% | ||
| Q3 25 | 22.5% | -67.9% | ||
| Q2 25 | 20.5% | -30.7% | ||
| Q1 25 | 21.2% | -55.3% | ||
| Q4 24 | 21.5% | -122.5% | ||
| Q3 24 | 22.2% | -57.6% | ||
| Q2 24 | 20.7% | -91.6% | ||
| Q1 24 | 22.9% | -132.3% |
营业利润率BGSPLUG
| Q4 25 | — | -338.9% | ||
| Q3 25 | 2.5% | -197.0% | ||
| Q2 25 | 5.2% | -101.7% | ||
| Q1 25 | 8.4% | -133.5% | ||
| Q4 24 | -46.6% | -678.7% | ||
| Q3 24 | 11.1% | -124.4% | ||
| Q2 24 | 9.9% | -170.7% | ||
| Q1 24 | -3.3% | -215.7% |
净利率BGSPLUG
| Q4 25 | — | -375.6% | ||
| Q3 25 | -4.4% | -204.4% | ||
| Q2 25 | -2.3% | -130.5% | ||
| Q1 25 | 0.2% | -147.1% | ||
| Q4 24 | -40.3% | -697.5% | ||
| Q3 24 | 1.6% | -121.5% | ||
| Q2 24 | 0.9% | -183.0% | ||
| Q1 24 | -8.5% | -245.9% |
每股收益（稀释后）BGSPLUG
| Q4 25 | — | $-0.70 | ||
| Q3 25 | $-0.24 | $-0.31 | ||
| Q2 25 | $-0.12 | $-0.20 | ||
| Q1 25 | $0.01 | $-0.21 | ||
| Q4 24 | $-2.81 | $-1.61 | ||
| Q3 24 | $0.09 | $-0.25 | ||
| Q2 24 | $0.05 | $-0.36 | ||
| Q1 24 | $-0.51 | $-0.46 |
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 | $60.9M | $368.5M |
| 总债务越低越好 | $2.0B | — |
| 股东权益账面价值 | $470.7M | $978.1M |
| 总资产 | $2.9B | $2.6B |
| 负债/权益比越低杠杆越低 | 4.30× | — |
8季度趋势，按日历期对齐
现金及短期投资BGSPLUG
| Q4 25 | — | $368.5M | ||
| Q3 25 | $60.9M | $165.9M | ||
| Q2 25 | $54.1M | $140.7M | ||
| Q1 25 | $61.2M | $295.8M | ||
| Q4 24 | $50.6M | $205.7M | ||
| Q3 24 | $54.7M | $93.9M | ||
| Q2 24 | $40.3M | $62.4M | ||
| Q1 24 | $42.5M | $172.9M |
总债务BGSPLUG
| Q4 25 | — | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.1B | $3.9M | ||
| Q2 24 | $2.0B | $3.7M | ||
| Q1 24 | $2.0B | $3.8M |
股东权益BGSPLUG
| Q4 25 | — | $978.1M | ||
| Q3 25 | $470.7M | $1.4B | ||
| Q2 25 | $501.4M | $1.7B | ||
| Q1 25 | $513.1M | $1.9B | ||
| Q4 24 | $524.8M | $1.7B | ||
| Q3 24 | $755.3M | $3.0B | ||
| Q2 24 | $765.0M | $3.0B | ||
| Q1 24 | $781.2M | $2.9B |
总资产BGSPLUG
| Q4 25 | — | $2.6B | ||
| Q3 25 | $2.9B | $3.1B | ||
| Q2 25 | $2.9B | $3.4B | ||
| Q1 25 | $3.0B | $3.6B | ||
| Q4 24 | $3.0B | $3.6B | ||
| Q3 24 | $3.4B | $4.7B | ||
| Q2 24 | $3.4B | $4.8B | ||
| Q1 24 | $3.4B | $4.8B |
负债/权益比BGSPLUG
| Q4 25 | — | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.91× | — | ||
| Q4 24 | 3.85× | — | ||
| Q3 24 | 2.75× | 0.00× | ||
| Q2 24 | 2.67× | 0.00× | ||
| Q1 24 | 2.61× | 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 | $-64.6M | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $-70.7M | $-153.0M |
| 自由现金流率自由现金流/营收 | -16.1% | -67.9% |
| 资本支出强度资本支出/营收 | 1.4% | 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 | $54.8M | $-647.0M |
8季度趋势，按日历期对齐
经营现金流BGSPLUG
| Q4 25 | — | $-148.6M | ||
| Q3 25 | $-64.6M | $-89.8M | ||
| Q2 25 | $17.8M | $-191.8M | ||
| Q1 25 | $52.7M | $-105.6M | ||
| Q4 24 | $80.3M | $-131.2M | ||
| Q3 24 | $4.2M | $-174.9M | ||
| Q2 24 | $11.3M | $-254.7M | ||
| Q1 24 | $35.1M | $-167.7M |
自由现金流BGSPLUG
| Q4 25 | — | $-153.0M | ||
| Q3 25 | $-70.7M | $-117.5M | ||
| Q2 25 | $11.5M | $-230.4M | ||
| Q1 25 | $42.4M | $-146.0M | ||
| Q4 24 | $71.7M | $-165.2M | ||
| Q3 24 | $-679.0K | $-234.2M | ||
| Q2 24 | $5.2M | $-356.0M | ||
| Q1 24 | $27.5M | $-260.3M |
自由现金流率BGSPLUG
| Q4 25 | — | -67.9% | ||
| Q3 25 | -16.1% | -66.4% | ||
| Q2 25 | 2.7% | -132.5% | ||
| Q1 25 | 10.0% | -109.2% | ||
| Q4 24 | 13.0% | -86.3% | ||
| Q3 24 | -0.1% | -134.8% | ||
| Q2 24 | 1.2% | -248.4% | ||
| Q1 24 | 5.8% | -216.5% |
资本支出强度BGSPLUG
| Q4 25 | — | 1.9% | ||
| Q3 25 | 1.4% | 15.6% | ||
| Q2 25 | 1.5% | 22.2% | ||
| Q1 25 | 2.4% | 30.3% | ||
| Q4 24 | 1.6% | 17.7% | ||
| Q3 24 | 1.0% | 34.1% | ||
| Q2 24 | 1.4% | 70.7% | ||
| Q1 24 | 1.6% | 77.0% |
现金转化率BGSPLUG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 63.17× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.56× | — | ||
| Q2 24 | 2.87× | — | ||
| Q1 24 | — | — |
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
BGS
| Specialty Segment | $150.5M | 34% |
| Meals Segment | $110.0M | 25% |
| Spices And Flavor Solutions Segment | $101.4M | 23% |
| Frozen And Vegetables Segment | $77.4M | 18% |
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% |
