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Constellation Energy（CEG）与Raymond James Financial（RJF）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Raymond James Financial的1.5倍（$5.7B vs $3.9B），Raymond James Financial净利率更高（14.1% vs 7.6%，领先6.5%），Constellation Energy同比增速更快（25.8% vs 13.0%），过去两年Constellation Energy的营收复合增速更高（4.0% vs 1.3%）
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。
雷蒙德詹姆斯金融是美国跨国独立投资银行及金融服务机构，通过旗下子公司为个人、企业及市政主体提供多元金融服务，核心业务覆盖投资与财务规划、投资银行、资产管理等领域，总部位于美国佛罗里达州圣彼得堡。
CEG vs RJF — 直观对比
营收规模更大
CEG
是对方的1.5倍
$3.9B
营收增速更快
CEG
高出12.8%
13.0%
净利率更高
RJF
高出6.5%
7.6%
两年增速更快
CEG
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $3.9B |
| 净利润 | $432.0M | $544.0M |
| 毛利率 | — | — |
| 营业利润率 | 10.5% | — |
| 净利率 | 7.6% | 14.1% |
| 营收同比 | 25.8% | 13.0% |
| 净利润同比 | -49.3% | 10.0% |
| 每股收益（稀释后） | $1.38 | $2.83 |
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CEGRJF
| Q1 26 | — | $3.9B | ||
| Q4 25 | $5.7B | $4.2B | ||
| Q3 25 | $5.7B | $4.2B | ||
| Q2 25 | $5.2B | $3.8B | ||
| Q1 25 | $6.1B | $3.8B | ||
| Q4 24 | $4.5B | $4.0B | ||
| Q3 24 | $4.8B | $4.0B | ||
| Q2 24 | $4.4B | $3.8B |
净利润CEGRJF
| Q1 26 | — | $544.0M | ||
| Q4 25 | $432.0M | $563.0M | ||
| Q3 25 | $930.0M | $604.0M | ||
| Q2 25 | $839.0M | $436.0M | ||
| Q1 25 | $118.0M | $495.0M | ||
| Q4 24 | $852.0M | $600.0M | ||
| Q3 24 | $1.2B | $602.0M | ||
| Q2 24 | $814.0M | $492.0M |
营业利润率CEGRJF
| Q1 26 | — | — | ||
| Q4 25 | 10.5% | — | ||
| Q3 25 | 19.0% | — | ||
| Q2 25 | 18.4% | 14.7% | ||
| Q1 25 | 7.4% | 17.5% | ||
| Q4 24 | 21.5% | 18.6% | ||
| Q3 24 | 30.7% | — | ||
| Q2 24 | 25.0% | 17.1% |
净利率CEGRJF
| Q1 26 | — | 14.1% | ||
| Q4 25 | 7.6% | 13.5% | ||
| Q3 25 | 16.3% | 14.4% | ||
| Q2 25 | 16.3% | 11.3% | ||
| Q1 25 | 1.9% | 12.9% | ||
| Q4 24 | 18.8% | 14.9% | ||
| Q3 24 | 25.1% | 15.0% | ||
| Q2 24 | 18.5% | 13.1% |
每股收益（稀释后）CEGRJF
| Q1 26 | — | $2.83 | ||
| Q4 25 | $1.38 | $2.79 | ||
| Q3 25 | $2.97 | $2.96 | ||
| Q2 25 | $2.67 | $2.12 | ||
| Q1 25 | $0.38 | $2.36 | ||
| Q4 24 | $2.71 | $2.86 | ||
| Q3 24 | $3.82 | $2.85 | ||
| Q2 24 | $2.58 | $2.31 |
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 | $5.4B |
| 总债务越低越好 | $7.4B | — |
| 股东权益账面价值 | $14.5B | $52.0M |
| 总资产 | $57.2B | $91.9B |
| 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CEGRJF
| Q1 26 | — | $5.4B | ||
| Q4 25 | $3.6B | $9.9B | ||
| Q3 25 | $4.0B | $11.4B | ||
| Q2 25 | $2.0B | $9.2B | ||
| Q1 25 | $1.8B | $9.7B | ||
| Q4 24 | $3.0B | $10.0B | ||
| Q3 24 | $1.8B | $11.0B | ||
| Q2 24 | $311.0M | $9.1B |
总债务CEGRJF
| Q1 26 | — | — | ||
| Q4 25 | $7.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CEGRJF
| Q1 26 | — | $52.0M | ||
| Q4 25 | $14.5B | $12.6B | ||
| Q3 25 | $14.3B | $12.5B | ||
| Q2 25 | $13.4B | $12.3B | ||
| Q1 25 | $13.0B | $12.2B | ||
| Q4 24 | $13.2B | $11.9B | ||
| Q3 24 | $12.6B | $11.7B | ||
| Q2 24 | $11.4B | $11.2B |
总资产CEGRJF
| Q1 26 | — | $91.9B | ||
| Q4 25 | $57.2B | $88.8B | ||
| Q3 25 | $56.2B | $88.2B | ||
| Q2 25 | $53.0B | $84.8B | ||
| Q1 25 | $52.3B | $83.1B | ||
| Q4 24 | $52.9B | $82.3B | ||
| Q3 24 | $51.8B | $83.0B | ||
| Q2 24 | $51.3B | $80.6B |
负债/权益比CEGRJF
| Q1 26 | — | — | ||
| Q4 25 | 0.51× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 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× | — |
| 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CEGRJF
| Q1 26 | — | — | ||
| Q4 25 | $805.0M | $-10.0M | ||
| Q3 25 | $1.8B | $796.0M | ||
| Q2 25 | $1.5B | $691.0M | ||
| Q1 25 | $107.0M | $117.0M | ||
| Q4 24 | $-1.0B | $830.0M | ||
| Q3 24 | $-112.0M | $510.0M | ||
| Q2 24 | $-613.0M | $711.0M |
自由现金流CEGRJF
| Q1 26 | — | — | ||
| Q4 25 | $-181.0M | $-56.0M | ||
| Q3 25 | $1.5B | $752.0M | ||
| Q2 25 | $710.0M | $634.0M | ||
| Q1 25 | $-699.0M | $71.0M | ||
| Q4 24 | $-1.7B | $789.0M | ||
| Q3 24 | $-664.0M | $460.0M | ||
| Q2 24 | $-1.2B | $655.0M |
自由现金流率CEGRJF
| Q1 26 | — | — | ||
| Q4 25 | -3.2% | -1.3% | ||
| Q3 25 | 25.6% | 17.9% | ||
| Q2 25 | 13.8% | 16.5% | ||
| Q1 25 | -11.4% | 1.8% | ||
| Q4 24 | -38.6% | 19.6% | ||
| Q3 24 | -13.9% | 11.5% | ||
| Q2 24 | -26.3% | 17.4% |
资本支出强度CEGRJF
| Q1 26 | — | — | ||
| Q4 25 | 17.3% | 1.1% | ||
| Q3 25 | 6.8% | 1.1% | ||
| Q2 25 | 14.9% | 1.5% | ||
| Q1 25 | 13.2% | 1.2% | ||
| Q4 24 | 16.1% | 1.0% | ||
| Q3 24 | 11.6% | 1.2% | ||
| Q2 24 | 12.4% | 1.5% |
现金转化率CEGRJF
| Q1 26 | — | — | ||
| Q4 25 | 1.86× | -0.02× | ||
| Q3 25 | 1.99× | 1.32× | ||
| Q2 25 | 1.76× | 1.58× | ||
| Q1 25 | 0.91× | 0.24× | ||
| Q4 24 | -1.19× | 1.38× | ||
| Q3 24 | -0.09× | 0.85× | ||
| Q2 24 | -0.75× | 1.45× |
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% |
RJF
| Private Client Group | $2.8B | 73% |
| Bank | $486.0M | 13% |
| Capital Markets | $464.0M | 12% |
| Other | $99.0M | 3% |
