vs
天弘科技（CLS）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是天弘科技的1.2倍（$4.8B vs $4.0B），天弘科技净利率更高（5.2% vs 4.8%，领先0.4%），天弘科技同比增速更快（52.8% vs 31.2%），Vistra Corp.自由现金流更多（$596.0M vs $137.9M），过去两年天弘科技的营收复合增速更高（35.4% vs 23.3%）
天弘科技（Celestica Inc.）是总部位于加拿大安大略省多伦多的跨国电子制造服务（EMS）企业，业务涵盖设计、生产制造、硬件平台搭建及供应链服务，目前在全球15个国家设有50个运营站点，为各行业客户提供专业的电子产业链相关解决方案。
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。
CLS vs VST — 直观对比
营收规模更大
VST
是对方的1.2倍
$4.0B
营收增速更快
CLS
高出21.6%
31.2%
净利率更高
CLS
高出0.4%
4.8%
自由现金流更多
VST
多$458.1M
$137.9M
两年增速更快
CLS
近两年复合增速
23.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $4.8B |
| 净利润 | $212.3M | $233.0M |
| 毛利率 | 10.8% | — |
| 营业利润率 | 6723.5% | 9.9% |
| 净利率 | 5.2% | 4.8% |
| 营收同比 | 52.8% | 31.2% |
| 净利润同比 | 146.3% | -47.2% |
| 每股收益（稀释后） | $1.83 | $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CLSVST
| Q1 26 | $4.0B | — | ||
| Q4 25 | $3.7B | $4.8B | ||
| Q3 25 | $3.2B | $4.8B | ||
| Q2 25 | $2.9B | $3.8B | ||
| Q1 25 | $2.6B | $4.3B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $2.5B | $4.3B | ||
| Q2 24 | $2.4B | $3.6B |
净利润CLSVST
| Q1 26 | $212.3M | — | ||
| Q4 25 | $267.5M | $233.0M | ||
| Q3 25 | $267.8M | $652.0M | ||
| Q2 25 | $211.0M | $327.0M | ||
| Q1 25 | $86.2M | $-268.0M | ||
| Q4 24 | — | $441.0M | ||
| Q3 24 | $89.5M | $1.9B | ||
| Q2 24 | $95.0M | $365.0M |
毛利率CLSVST
| Q1 26 | 10.8% | — | ||
| Q4 25 | 11.8% | — | ||
| Q3 25 | 13.0% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 10.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.4% | — | ||
| Q2 24 | 10.6% | — |
营业利润率CLSVST
| Q1 26 | 6723.5% | — | ||
| Q4 25 | 8.6% | 9.9% | ||
| Q3 25 | 10.2% | 21.7% | ||
| Q2 25 | 9.4% | 13.7% | ||
| Q1 25 | 4.9% | -2.8% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | 5.5% | 59.6% | ||
| Q2 24 | 5.6% | 22.5% |
净利率CLSVST
| Q1 26 | 5.2% | — | ||
| Q4 25 | 7.3% | 4.8% | ||
| Q3 25 | 8.4% | 13.6% | ||
| Q2 25 | 7.3% | 8.7% | ||
| Q1 25 | 3.3% | -6.3% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | 3.6% | 43.5% | ||
| Q2 24 | 4.0% | 10.1% |
每股收益（稀释后）CLSVST
| Q1 26 | $1.83 | — | ||
| Q4 25 | $2.29 | $0.55 | ||
| Q3 25 | $2.31 | $1.75 | ||
| Q2 25 | $1.82 | $0.81 | ||
| Q1 25 | $0.74 | $-0.93 | ||
| Q4 24 | — | $1.09 | ||
| Q3 24 | $0.75 | $5.25 | ||
| Q2 24 | $0.80 | $0.90 |
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 | $378.0M | $785.0M |
| 总债务越低越好 | — | $15.8B |
| 股东权益账面价值 | $2.1B | $5.1B |
| 总资产 | $8260.0B | $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CLSVST
| Q1 26 | $378.0M | — | ||
| Q4 25 | $595.6M | $785.0M | ||
| Q3 25 | $305.9M | $602.0M | ||
| Q2 25 | $313.8M | $458.0M | ||
| Q1 25 | $303.0M | $561.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $905.0M | ||
| Q2 24 | — | $1.6B |
总债务CLSVST
| Q1 26 | — | — | ||
| Q4 25 | $750.5M | $15.8B | ||
| Q3 25 | $756.7M | $15.8B | ||
| Q2 25 | $848.6M | $15.5B | ||
| Q1 25 | $915.0M | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B |
股东权益CLSVST
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $5.1B | ||
| Q3 25 | $2.0B | $5.2B | ||
| Q2 25 | $1.8B | $4.8B | ||
| Q1 25 | $1.6B | $4.8B | ||
| Q4 24 | — | $5.6B | ||
| Q3 24 | $1.8B | $5.4B | ||
| Q2 24 | $1.8B | $5.6B |
总资产CLSVST
| Q1 26 | $8260.0B | — | ||
| Q4 25 | $7.2B | $41.5B | ||
| Q3 25 | $6.6B | $38.0B | ||
| Q2 25 | $6.2B | $38.1B | ||
| Q1 25 | $5.8B | $38.2B | ||
| Q4 24 | — | $37.8B | ||
| Q3 24 | — | $37.9B | ||
| Q2 24 | — | $39.1B |
负债/权益比CLSVST
| Q1 26 | — | — | ||
| Q4 25 | 0.34× | 3.11× | ||
| Q3 25 | 0.37× | 3.02× | ||
| Q2 25 | 0.48× | 3.22× | ||
| Q1 25 | 0.59× | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× |
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 | $356.3M | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $137.9M | $596.0M |
| 自由现金流率自由现金流/营收 | 3.4% | 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 | 1.68× | 6.15× |
| 过去12个月自由现金流最近4个季度 | $502.6M | $1.3B |
8季度趋势，按日历期对齐
经营现金流CLSVST
| Q1 26 | $356.3M | — | ||
| Q4 25 | $250.6M | $1.4B | ||
| Q3 25 | $126.2M | $1.5B | ||
| Q2 25 | $152.4M | $572.0M | ||
| Q1 25 | $130.3M | $599.0M | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $122.8M | $1.7B | ||
| Q2 24 | $99.6M | $1.2B |
自由现金流CLSVST
| Q1 26 | $137.9M | — | ||
| Q4 25 | $155.9M | $596.0M | ||
| Q3 25 | $88.9M | $1.0B | ||
| Q2 25 | $119.9M | $-118.0M | ||
| Q1 25 | $93.6M | $-169.0M | ||
| Q4 24 | — | $923.0M | ||
| Q3 24 | $76.8M | $1.0B | ||
| Q2 24 | $62.7M | $698.0M |
自由现金流率CLSVST
| Q1 26 | 3.4% | — | ||
| Q4 25 | 4.3% | 12.4% | ||
| Q3 25 | 2.8% | 21.1% | ||
| Q2 25 | 4.1% | -3.1% | ||
| Q1 25 | 3.5% | -4.0% | ||
| Q4 24 | — | 25.2% | ||
| Q3 24 | 3.1% | 23.4% | ||
| Q2 24 | 2.6% | 19.4% |
资本支出强度CLSVST
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 17.4% | ||
| Q3 25 | 1.2% | 9.6% | ||
| Q2 25 | 1.1% | 18.4% | ||
| Q1 25 | 1.4% | 18.1% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | 1.8% | 15.8% | ||
| Q2 24 | 1.5% | 13.8% |
现金转化率CLSVST
| Q1 26 | 1.68× | — | ||
| Q4 25 | 0.94× | 6.15× | ||
| Q3 25 | 0.47× | 2.25× | ||
| Q2 25 | 0.72× | 1.75× | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | — | 3.07× | ||
| Q3 24 | 1.37× | 0.90× | ||
| Q2 24 | 1.05× | 3.28× |
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
CLS
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% |
