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Constellation Energy（CEG）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
Constellation Energy的季度营收约是皇家加勒比集团的1.3倍（$5.7B vs $4.3B），皇家加勒比集团净利率更高（17.9% vs 7.6%，领先10.3%），Constellation Energy同比增速更快（25.8% vs 13.2%），过去两年Constellation Energy的营收复合增速更高（4.0% vs 1.8%）
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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
CEG vs RCL — 直观对比
营收规模更大
CEG
是对方的1.3倍
$4.3B
营收增速更快
CEG
高出12.6%
13.2%
净利率更高
RCL
高出10.3%
7.6%
两年增速更快
CEG
近两年复合增速
1.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $4.3B |
| 净利润 | $432.0M | $762.0M |
| 毛利率 | — | — |
| 营业利润率 | 10.5% | 21.9% |
| 净利率 | 7.6% | 17.9% |
| 营收同比 | 25.8% | 13.2% |
| 净利润同比 | -49.3% | 36.3% |
| 每股收益（稀释后） | $1.38 | $2.76 |
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CEGRCL
| Q1 26 | — | $4.3B | ||
| Q4 25 | $5.7B | $4.3B | ||
| Q3 25 | $5.7B | $5.1B | ||
| Q2 25 | $5.2B | $4.5B | ||
| Q1 25 | $6.1B | $4.0B | ||
| Q4 24 | $4.5B | $3.8B | ||
| Q3 24 | $4.8B | $4.9B | ||
| Q2 24 | $4.4B | $4.1B |
净利润CEGRCL
| Q1 26 | — | $762.0M | ||
| Q4 25 | $432.0M | $753.0M | ||
| Q3 25 | $930.0M | $1.6B | ||
| Q2 25 | $839.0M | $1.2B | ||
| Q1 25 | $118.0M | $730.0M | ||
| Q4 24 | $852.0M | $552.0M | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $814.0M | $854.0M |
毛利率CEGRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% |
营业利润率CEGRCL
| Q1 26 | — | 21.9% | ||
| Q4 25 | 10.5% | 21.9% | ||
| Q3 25 | 19.0% | 33.1% | ||
| Q2 25 | 18.4% | 29.3% | ||
| Q1 25 | 7.4% | 23.6% | ||
| Q4 24 | 21.5% | 16.6% | ||
| Q3 24 | 30.7% | 33.4% | ||
| Q2 24 | 25.0% | 26.7% |
净利率CEGRCL
| Q1 26 | — | 17.9% | ||
| Q4 25 | 7.6% | 17.7% | ||
| Q3 25 | 16.3% | 30.6% | ||
| Q2 25 | 16.3% | 26.7% | ||
| Q1 25 | 1.9% | 18.3% | ||
| Q4 24 | 18.8% | 14.7% | ||
| Q3 24 | 25.1% | 22.7% | ||
| Q2 24 | 18.5% | 20.8% |
每股收益（稀释后）CEGRCL
| Q1 26 | — | $2.76 | ||
| Q4 25 | $1.38 | $2.76 | ||
| Q3 25 | $2.97 | $5.74 | ||
| Q2 25 | $2.67 | $4.41 | ||
| Q1 25 | $0.38 | $2.70 | ||
| Q4 24 | $2.71 | $2.27 | ||
| Q3 24 | $3.82 | $4.21 | ||
| Q2 24 | $2.58 | $3.11 |
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 | $825.0M |
| 总债务越低越好 | $7.4B | $21.3B |
| 股东权益账面价值 | $14.5B | $10.2B |
| 总资产 | $57.2B | $41.6B |
| 负债/权益比越低杠杆越低 | 0.51× | 2.08× |
8季度趋势，按日历期对齐
现金及短期投资CEGRCL
| Q1 26 | — | $825.0M | ||
| Q4 25 | $3.6B | $825.0M | ||
| Q3 25 | $4.0B | $432.0M | ||
| Q2 25 | $2.0B | $735.0M | ||
| Q1 25 | $1.8B | $386.0M | ||
| Q4 24 | $3.0B | $388.0M | ||
| Q3 24 | $1.8B | $418.0M | ||
| Q2 24 | $311.0M | $391.0M |
总债务CEGRCL
| Q1 26 | — | $21.3B | ||
| Q4 25 | $7.4B | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | $8.5B | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
股东权益CEGRCL
| Q1 26 | — | $10.2B | ||
| Q4 25 | $14.5B | $10.0B | ||
| Q3 25 | $14.3B | $10.1B | ||
| Q2 25 | $13.4B | $9.2B | ||
| Q1 25 | $13.0B | $8.0B | ||
| Q4 24 | $13.2B | $7.6B | ||
| Q3 24 | $12.6B | $7.0B | ||
| Q2 24 | $11.4B | $6.0B |
总资产CEGRCL
| Q1 26 | — | $41.6B | ||
| Q4 25 | $57.2B | $41.6B | ||
| Q3 25 | $56.2B | $40.1B | ||
| Q2 25 | $53.0B | $38.5B | ||
| Q1 25 | $52.3B | $37.5B | ||
| Q4 24 | $52.9B | $37.1B | ||
| Q3 24 | $51.8B | $37.1B | ||
| Q2 24 | $51.3B | $37.0B |
负债/权益比CEGRCL
| Q1 26 | — | 2.08× | ||
| Q4 25 | 0.51× | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | 0.64× | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $6.5B |
| 自由现金流经营现金流 - 资本支出 | $-181.0M | — |
| 自由现金流率自由现金流/营收 | -3.2% | — |
| 资本支出强度资本支出/营收 | 17.3% | — |
| 现金转化率经营现金流/净利润 | 1.86× | 8.48× |
| 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CEGRCL
| Q1 26 | — | $6.5B | ||
| Q4 25 | $805.0M | $1.6B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $107.0M | $1.6B | ||
| Q4 24 | $-1.0B | $1.5B | ||
| Q3 24 | $-112.0M | $897.0M | ||
| Q2 24 | $-613.0M | $1.6B |
自由现金流CEGRCL
| Q1 26 | — | — | ||
| Q4 25 | $-181.0M | $116.0M | ||
| Q3 25 | $1.5B | $-989.0M | ||
| Q2 25 | $710.0M | $910.0M | ||
| Q1 25 | $-699.0M | $1.2B | ||
| Q4 24 | $-1.7B | $915.0M | ||
| Q3 24 | $-664.0M | $563.0M | ||
| Q2 24 | $-1.2B | $-567.0M |
自由现金流率CEGRCL
| Q1 26 | — | — | ||
| Q4 25 | -3.2% | 2.7% | ||
| Q3 25 | 25.6% | -19.2% | ||
| Q2 25 | 13.8% | 20.1% | ||
| Q1 25 | -11.4% | 30.0% | ||
| Q4 24 | -38.6% | 24.3% | ||
| Q3 24 | -13.9% | 11.5% | ||
| Q2 24 | -26.3% | -13.8% |
资本支出强度CEGRCL
| Q1 26 | — | — | ||
| Q4 25 | 17.3% | 35.4% | ||
| Q3 25 | 6.8% | 47.8% | ||
| Q2 25 | 14.9% | 18.4% | ||
| Q1 25 | 13.2% | 10.7% | ||
| Q4 24 | 16.1% | 14.7% | ||
| Q3 24 | 11.6% | 6.8% | ||
| Q2 24 | 12.4% | 52.1% |
现金转化率CEGRCL
| Q1 26 | — | 8.48× | ||
| Q4 25 | 1.86× | 2.16× | ||
| Q3 25 | 1.99× | 0.93× | ||
| Q2 25 | 1.76× | 1.44× | ||
| Q1 25 | 0.91× | 2.23× | ||
| Q4 24 | -1.19× | 2.66× | ||
| Q3 24 | -0.09× | 0.81× | ||
| Q2 24 | -0.75× | 1.84× |
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% |
RCL
暂无分部数据
