vs
Constellation Energy（CEG）与洲际交易所（ICE）财务数据对比。点击上方公司名可切换其他公司
Constellation Energy的季度营收约是洲际交易所的1.8倍（$5.7B vs $3.1B），洲际交易所净利率更高（27.1% vs 7.6%，领先19.5%），Constellation Energy同比增速更快（25.8% vs 3.7%），洲际交易所自由现金流更多（$1.1B vs $-181.0M），过去两年洲际交易所的营收复合增速更高（5.9% vs 4.0%）
Constellation Energy是总部位于美国马里兰州巴尔的摩的大型能源企业，核心业务涵盖电力供应、天然气供应以及专业能源管理服务，业务范围覆盖美国本土全境，累计服务的个人及企业客户总量约200万。
洲际交易所（ICE）是2000年成立的美国跨国金融服务企业，运营全球金融交易所与清算所，提供抵押技术、数据及上市服务，位列财富500强、标普500及罗素1000指数成分股，旗下拥有金融及大宗商品市场交易所，运营12家受监管的交易场所，业务覆盖美加欧等多地期货市场。
CEG vs ICE — 直观对比
营收规模更大
CEG
是对方的1.8倍
$3.1B
营收增速更快
CEG
高出22.1%
3.7%
净利率更高
ICE
高出19.5%
7.6%
自由现金流更多
ICE
多$1.3B
$-181.0M
两年增速更快
ICE
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $3.1B |
| 净利润 | $432.0M | $851.0M |
| 毛利率 | — | — |
| 营业利润率 | 10.5% | 39.4% |
| 净利率 | 7.6% | 27.1% |
| 营收同比 | 25.8% | 3.7% |
| 净利润同比 | -49.3% | 21.9% |
| 每股收益（稀释后） | $1.38 | $1.49 |
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CEGICE
| Q4 25 | $5.7B | $3.1B | ||
| Q3 25 | $5.7B | $3.0B | ||
| Q2 25 | $5.2B | $3.3B | ||
| Q1 25 | $6.1B | $3.2B | ||
| Q4 24 | $4.5B | $3.0B | ||
| Q3 24 | $4.8B | $3.0B | ||
| Q2 24 | $4.4B | $2.9B | ||
| Q1 24 | $5.3B | $2.8B |
净利润CEGICE
| Q4 25 | $432.0M | $851.0M | ||
| Q3 25 | $930.0M | $816.0M | ||
| Q2 25 | $839.0M | $851.0M | ||
| Q1 25 | $118.0M | $797.0M | ||
| Q4 24 | $852.0M | $698.0M | ||
| Q3 24 | $1.2B | $657.0M | ||
| Q2 24 | $814.0M | $632.0M | ||
| Q1 24 | $883.0M | $767.0M |
营业利润率CEGICE
| Q4 25 | 10.5% | 39.4% | ||
| Q3 25 | 19.0% | 39.0% | ||
| Q2 25 | 18.4% | 39.8% | ||
| Q1 25 | 7.4% | 37.8% | ||
| Q4 24 | 21.5% | 35.5% | ||
| Q3 24 | 30.7% | 36.4% | ||
| Q2 24 | 25.0% | 36.8% | ||
| Q1 24 | 15.5% | 38.0% |
净利率CEGICE
| Q4 25 | 7.6% | 27.1% | ||
| Q3 25 | 16.3% | 27.1% | ||
| Q2 25 | 16.3% | 26.1% | ||
| Q1 25 | 1.9% | 24.7% | ||
| Q4 24 | 18.8% | 23.0% | ||
| Q3 24 | 25.1% | 21.7% | ||
| Q2 24 | 18.5% | 21.8% | ||
| Q1 24 | 16.8% | 27.4% |
每股收益（稀释后）CEGICE
| Q4 25 | $1.38 | $1.49 | ||
| Q3 25 | $2.97 | $1.42 | ||
| Q2 25 | $2.67 | $1.48 | ||
| Q1 25 | $0.38 | $1.38 | ||
| Q4 24 | $2.71 | $1.21 | ||
| Q3 24 | $3.82 | $1.14 | ||
| Q2 24 | $2.58 | $1.10 | ||
| Q1 24 | $2.78 | $1.33 |
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 | $3.6B | $837.0M |
| 总债务越低越好 | $7.4B | — |
| 股东权益账面价值 | $14.5B | $28.9B |
| 总资产 | $57.2B | $136.9B |
| 负债/权益比越低杠杆越低 | 0.51× | — |
8季度趋势，按日历期对齐
现金及短期投资CEGICE
| Q4 25 | $3.6B | $837.0M | ||
| Q3 25 | $4.0B | $850.0M | ||
| Q2 25 | $2.0B | $1.0B | ||
| Q1 25 | $1.8B | $783.0M | ||
| Q4 24 | $3.0B | $844.0M | ||
| Q3 24 | $1.8B | $755.0M | ||
| Q2 24 | $311.0M | $885.0M | ||
| Q1 24 | $562.0M | $863.0M |
总债务CEGICE
| Q4 25 | $7.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CEGICE
| Q4 25 | $14.5B | $28.9B | ||
| Q3 25 | $14.3B | $28.6B | ||
| Q2 25 | $13.4B | $28.4B | ||
| Q1 25 | $13.0B | $28.0B | ||
| Q4 24 | $13.2B | $27.6B | ||
| Q3 24 | $12.6B | $27.2B | ||
| Q2 24 | $11.4B | $26.7B | ||
| Q1 24 | $11.2B | $26.2B |
总资产CEGICE
| Q4 25 | $57.2B | $136.9B | ||
| Q3 25 | $56.2B | $140.9B | ||
| Q2 25 | $53.0B | $144.2B | ||
| Q1 25 | $52.3B | $142.9B | ||
| Q4 24 | $52.9B | $139.4B | ||
| Q3 24 | $51.8B | $135.2B | ||
| Q2 24 | $51.3B | $137.7B | ||
| Q1 24 | $52.0B | $131.4B |
负债/权益比CEGICE
| Q4 25 | 0.51× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $805.0M | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $-181.0M | $1.1B |
| 自由现金流率自由现金流/营收 | -3.2% | 35.3% |
| 资本支出强度资本支出/营收 | 17.3% | 5.3% |
| 现金转化率经营现金流/净利润 | 1.86× | 1.50× |
| 过去12个月自由现金流最近4个季度 | $1.3B | $4.3B |
8季度趋势，按日历期对齐
经营现金流CEGICE
| Q4 25 | $805.0M | $1.3B | ||
| Q3 25 | $1.8B | $915.0M | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $107.0M | $966.0M | ||
| Q4 24 | $-1.0B | $1.5B | ||
| Q3 24 | $-112.0M | $898.0M | ||
| Q2 24 | $-613.0M | $1.2B | ||
| Q1 24 | $-723.0M | $1.0B |
自由现金流CEGICE
| Q4 25 | $-181.0M | $1.1B | ||
| Q3 25 | $1.5B | $853.0M | ||
| Q2 25 | $710.0M | $1.4B | ||
| Q1 25 | $-699.0M | $881.0M | ||
| Q4 24 | $-1.7B | $1.3B | ||
| Q3 24 | $-664.0M | $819.0M | ||
| Q2 24 | $-1.2B | $1.1B | ||
| Q1 24 | $-1.5B | $951.0M |
自由现金流率CEGICE
| Q4 25 | -3.2% | 35.3% | ||
| Q3 25 | 25.6% | 28.4% | ||
| Q2 25 | 13.8% | 44.3% | ||
| Q1 25 | -11.4% | 27.3% | ||
| Q4 24 | -38.6% | 43.3% | ||
| Q3 24 | -13.9% | 27.0% | ||
| Q2 24 | -26.3% | 38.7% | ||
| Q1 24 | -27.8% | 34.0% |
资本支出强度CEGICE
| Q4 25 | 17.3% | 5.3% | ||
| Q3 25 | 6.8% | 2.1% | ||
| Q2 25 | 14.9% | 1.8% | ||
| Q1 25 | 13.2% | 2.6% | ||
| Q4 24 | 16.1% | 6.4% | ||
| Q3 24 | 11.6% | 2.6% | ||
| Q2 24 | 12.4% | 2.6% | ||
| Q1 24 | 14.0% | 2.1% |
现金转化率CEGICE
| Q4 25 | 1.86× | 1.50× | ||
| Q3 25 | 1.99× | 1.12× | ||
| Q2 25 | 1.76× | 1.77× | ||
| Q1 25 | 0.91× | 1.21× | ||
| Q4 24 | -1.19× | 2.16× | ||
| Q3 24 | -0.09× | 1.37× | ||
| Q2 24 | -0.75× | 1.89× | ||
| Q1 24 | -0.82× | 1.32× |
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
CEG
| Constellation Mid Atlantic | $1.6B | 29% |
| Constellation Midwest | $1.3B | 23% |
| Constellation Other Regions | $1.1B | 20% |
| Other | $660.0M | 12% |
| Constellation New York | $618.0M | 11% |
| Constellation ERCOT | $292.0M | 5% |
ICE
| Other | $1.9B | 60% |
| Fixed Income Data And Analytics | $318.0M | 10% |
| Exchange Data | $266.0M | 8% |
| Origination Technology | $188.0M | 6% |
| Financial Futures And Options | $155.0M | 5% |
| Listings | $125.0M | 4% |
| OT Cand Other Transactions | $97.0M | 3% |
| Closing Solutions | $60.0M | 2% |
| Fixed Income Execution | $29.0M | 1% |
| Product And Service Net Interest Income | $26.0M | 1% |
