vs
芝商所（CME）与PPL Corporation（PPL）财务数据对比。点击上方公司名可切换其他公司
PPL Corporation的季度营收约是芝商所的1.2倍（$2.3B vs $1.9B），PPL Corporation净利率更高（11.3% vs 0.1%，领先11.3%），芝商所同比增速更快（14.5% vs 7.2%），过去两年芝商所的营收复合增速更高（10.8% vs 1.0%）
芝商所是总部位于美国伊利诺伊州芝加哥的金融服务企业，为全球规模最大的金融衍生品交易所运营商，旗下拥有芝加哥商品交易所、芝加哥期货交易所、纽约商业交易所、纽约商品交易所等交易平台，覆盖农产品、货币、能源等品类交易，同时持有标普道琼斯指数27%的股权。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
CME vs PPL — 直观对比
营收规模更大
PPL
是对方的1.2倍
$1.9B
营收增速更快
CME
高出7.3%
7.2%
净利率更高
PPL
高出11.3%
0.1%
两年增速更快
CME
近两年复合增速
1.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.3B |
| 净利润 | $1.2M | $266.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 20.3% |
| 净利率 | 0.1% | 11.3% |
| 营收同比 | 14.5% | 7.2% |
| 净利润同比 | 20.7% | 50.3% |
| 每股收益（稀释后） | — | $0.35 |
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CMEPPL
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $2.3B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.7B | $2.0B | ||
| Q1 25 | $1.6B | $2.5B | ||
| Q4 24 | $1.5B | $2.2B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | $1.5B | $1.9B |
净利润CMEPPL
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $266.0M | ||
| Q3 25 | $908.0M | $318.0M | ||
| Q2 25 | $1.0B | $183.0M | ||
| Q1 25 | $956.2M | $414.0M | ||
| Q4 24 | $874.6M | $177.0M | ||
| Q3 24 | $912.8M | $214.0M | ||
| Q2 24 | $883.2M | $190.0M |
营业利润率CMEPPL
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 20.3% | ||
| Q3 25 | 63.3% | 25.4% | ||
| Q2 25 | 66.7% | 19.9% | ||
| Q1 25 | 67.5% | 26.6% | ||
| Q4 24 | 62.1% | 17.2% | ||
| Q3 24 | 64.6% | 20.6% | ||
| Q2 24 | 65.3% | 20.8% |
净利率CMEPPL
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | 11.3% | ||
| Q3 25 | 59.1% | 14.2% | ||
| Q2 25 | 60.6% | 9.0% | ||
| Q1 25 | 58.2% | 16.3% | ||
| Q4 24 | 57.3% | 8.1% | ||
| Q3 24 | 57.6% | 10.3% | ||
| Q2 24 | 57.6% | 10.1% |
每股收益（稀释后）CMEPPL
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $0.35 | ||
| Q3 25 | $2.49 | $0.43 | ||
| Q2 25 | $2.81 | $0.25 | ||
| Q1 25 | $2.62 | $0.56 | ||
| Q4 24 | $2.40 | $0.23 | ||
| Q3 24 | $2.50 | $0.29 | ||
| Q2 24 | $2.42 | $0.26 |
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 | $2.4B | $1.1B |
| 总债务越低越好 | $3.4B | $18.9B |
| 股东权益账面价值 | — | $14.9B |
| 总资产 | $202.0B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资CMEPPL
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $1.1B | ||
| Q3 25 | $2.6B | $1.1B | ||
| Q2 25 | $2.1B | $294.0M | ||
| Q1 25 | $1.5B | $312.0M | ||
| Q4 24 | $3.0B | $306.0M | ||
| Q3 24 | $2.4B | $542.0M | ||
| Q2 24 | $1.9B | $282.0M |
总债务CMEPPL
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | $18.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $16.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CMEPPL
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $14.9B | ||
| Q3 25 | $28.2B | $14.4B | ||
| Q2 25 | $27.7B | $14.3B | ||
| Q1 25 | $27.0B | $14.3B | ||
| Q4 24 | $26.5B | $14.1B | ||
| Q3 24 | $28.2B | $14.1B | ||
| Q2 24 | $27.6B | $14.1B |
总资产CMEPPL
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $45.2B | ||
| Q3 25 | $187.1B | $43.9B | ||
| Q2 25 | $179.9B | $42.4B | ||
| Q1 25 | $157.8B | $41.8B | ||
| Q4 24 | $137.4B | $41.1B | ||
| Q3 24 | $137.8B | $40.5B | ||
| Q2 24 | $123.4B | $39.8B |
负债/权益比CMEPPL
| Q1 26 | — | — | ||
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.17× | ||
| 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 | — | $548.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-614.0M |
| 自由现金流率自由现金流/营收 | — | -26.1% |
| 资本支出强度资本支出/营收 | — | 49.5% |
| 现金转化率经营现金流/净利润 | — | 2.06× |
| 过去12个月自由现金流最近4个季度 | — | $-1.4B |
8季度趋势，按日历期对齐
经营现金流CMEPPL
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $548.0M | ||
| Q3 25 | $968.1M | $966.0M | ||
| Q2 25 | $1.1B | $602.0M | ||
| Q1 25 | $1.1B | $513.0M | ||
| Q4 24 | $1.0B | $511.0M | ||
| Q3 24 | $1.0B | $781.0M | ||
| Q2 24 | $776.9M | $766.0M |
自由现金流CMEPPL
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $-614.0M | ||
| Q3 25 | $949.7M | $-179.0M | ||
| Q2 25 | $1.0B | $-328.0M | ||
| Q1 25 | $1.1B | $-280.0M | ||
| Q4 24 | $991.7M | $-349.0M | ||
| Q3 24 | $973.2M | $102.0M | ||
| Q2 24 | $758.7M | $96.0M |
自由现金流率CMEPPL
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | -26.1% | ||
| Q3 25 | 61.8% | -8.0% | ||
| Q2 25 | 61.5% | -16.1% | ||
| Q1 25 | 67.1% | -11.0% | ||
| Q4 24 | 65.0% | -15.9% | ||
| Q3 24 | 61.4% | 4.9% | ||
| Q2 24 | 49.5% | 5.1% |
资本支出强度CMEPPL
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 49.5% | ||
| Q3 25 | 1.2% | 51.2% | ||
| Q2 25 | 1.1% | 45.6% | ||
| Q1 25 | 0.9% | 31.2% | ||
| Q4 24 | 1.7% | 39.3% | ||
| Q3 24 | 1.9% | 32.7% | ||
| Q2 24 | 1.2% | 35.8% |
现金转化率CMEPPL
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | 2.06× | ||
| Q3 25 | 1.07× | 3.04× | ||
| Q2 25 | 1.03× | 3.29× | ||
| Q1 25 | 1.17× | 1.24× | ||
| Q4 24 | 1.16× | 2.89× | ||
| Q3 24 | 1.10× | 3.65× | ||
| Q2 24 | 0.88× | 4.03× |
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
CME
暂无分部数据
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
