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Brookfield Infrastructure Partners L.P.（BIP）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Brookfield Infrastructure Partners L.P.的季度营收约是Vistra Corp.的1.1倍（$5.4B vs $4.8B），Vistra Corp.净利率更高（4.8% vs 4.6%，领先0.2%），Vistra Corp.同比增速更快（31.2% vs 5.7%）
布鲁克菲尔德基础设施合伙是一家上市有限合伙企业，总部位于加拿大多伦多，专注于全球范围内基础设施资产的收购与运营管理，投资覆盖交通、能源、数据基建等多个领域，具备成熟的全球化资产运营管理经验。
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。
BIP vs VST — 直观对比
营收规模更大
BIP
是对方的1.1倍
$4.8B
营收增速更快
VST
高出25.5%
5.7%
净利率更高
VST
高出0.2%
4.6%
损益表 — Q2 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $4.8B |
| 净利润 | $252.0M | $233.0M |
| 毛利率 | 26.4% | — |
| 营业利润率 | 24.4% | 9.9% |
| 净利率 | 4.6% | 4.8% |
| 营收同比 | 5.7% | 31.2% |
| 净利润同比 | 37.0% | -47.2% |
| 每股收益（稀释后） | $-0.03 | $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BIPVST
| Q4 25 | — | $4.8B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | $5.4B | $3.8B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | $5.1B | $3.6B | ||
| Q1 24 | — | $3.2B |
净利润BIPVST
| Q4 25 | — | $233.0M | ||
| Q3 25 | — | $652.0M | ||
| Q2 25 | $252.0M | $327.0M | ||
| Q1 25 | — | $-268.0M | ||
| Q4 24 | — | $441.0M | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | $184.0M | $365.0M | ||
| Q1 24 | — | $-35.0M |
毛利率BIPVST
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 26.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 24.6% | — | ||
| Q1 24 | — | — |
营业利润率BIPVST
| Q4 25 | — | 9.9% | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | 24.4% | 13.7% | ||
| Q1 25 | — | -2.8% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | 59.6% | ||
| Q2 24 | 22.8% | 22.5% | ||
| Q1 24 | — | 2.7% |
净利率BIPVST
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | 4.6% | 8.7% | ||
| Q1 25 | — | -6.3% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | 43.5% | ||
| Q2 24 | 3.6% | 10.1% | ||
| Q1 24 | — | -1.1% |
每股收益（稀释后）BIPVST
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $1.75 | ||
| Q2 25 | $-0.03 | $0.81 | ||
| Q1 25 | — | $-0.93 | ||
| Q4 24 | — | $1.09 | ||
| Q3 24 | — | $5.25 | ||
| Q2 24 | $-0.10 | $0.90 | ||
| Q1 24 | — | $-0.24 |
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 | $2.3B | $785.0M |
| 总债务越低越好 | — | $15.8B |
| 股东权益账面价值 | $29.6B | $5.1B |
| 总资产 | $108.7B | $41.5B |
| 负债/权益比越低杠杆越低 | — | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资BIPVST
| Q4 25 | — | $785.0M | ||
| Q3 25 | — | $602.0M | ||
| Q2 25 | $2.3B | $458.0M | ||
| Q1 25 | — | $561.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $905.0M | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | — | $1.1B |
总债务BIPVST
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | — | $14.7B |
股东权益BIPVST
| Q4 25 | — | $5.1B | ||
| Q3 25 | — | $5.2B | ||
| Q2 25 | $29.6B | $4.8B | ||
| Q1 25 | — | $4.8B | ||
| Q4 24 | — | $5.6B | ||
| Q3 24 | — | $5.4B | ||
| Q2 24 | $30.1B | $5.6B | ||
| Q1 24 | — | $5.7B |
总资产BIPVST
| Q4 25 | — | $41.5B | ||
| Q3 25 | — | $38.0B | ||
| Q2 25 | $108.7B | $38.1B | ||
| Q1 25 | — | $38.2B | ||
| Q4 24 | — | $37.8B | ||
| Q3 24 | — | $37.9B | ||
| Q2 24 | $100.9B | $39.1B | ||
| Q1 24 | — | $38.2B |
负债/权益比BIPVST
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× | ||
| Q1 24 | — | 2.60× |
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 | $1.2B | $1.4B |
| 自由现金流经营现金流 - 资本支出 | — | $596.0M |
| 自由现金流率自由现金流/营收 | — | 12.4% |
| 资本支出强度资本支出/营收 | — | 17.4% |
| 现金转化率经营现金流/净利润 | 4.72× | 6.15× |
| 过去12个月自由现金流最近4个季度 | — | $1.3B |
8季度趋势，按日历期对齐
经营现金流BIPVST
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $1.2B | $572.0M | ||
| Q1 25 | — | $599.0M | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | — | $312.0M |
自由现金流BIPVST
| Q4 25 | — | $596.0M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $-118.0M | ||
| Q1 25 | — | $-169.0M | ||
| Q4 24 | — | $923.0M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $698.0M | ||
| Q1 24 | — | $-153.0M |
自由现金流率BIPVST
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 21.1% | ||
| Q2 25 | — | -3.1% | ||
| Q1 25 | — | -4.0% | ||
| Q4 24 | — | 25.2% | ||
| Q3 24 | — | 23.4% | ||
| Q2 24 | — | 19.4% | ||
| Q1 24 | — | -4.8% |
资本支出强度BIPVST
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 15.8% | ||
| Q2 24 | — | 13.8% | ||
| Q1 24 | — | 14.7% |
现金转化率BIPVST
| Q4 25 | — | 6.15× | ||
| Q3 25 | — | 2.25× | ||
| Q2 25 | 4.72× | 1.75× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.07× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | 5.74× | 3.28× | ||
| 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
BIP
暂无分部数据
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% |
