vs
CMS Energy（CMS）与希尔顿（HLT）财务数据对比。点击上方公司名可切换其他公司
希尔顿的季度营收约是CMS Energy的1.4倍（$2.9B vs $2.1B），CMS Energy净利率更高（13.5% vs 13.0%，领先0.5%），CMS Energy同比增速更快（13.0% vs 9.0%），过去两年CMS Energy的营收复合增速更高（-0.2% vs -0.2%）
CMS Energy是总部位于美国密歇根州杰克逊市的能源企业，业务核心聚焦密歇根州公用事业运营。旗下核心主体Consumers Energy成立于1886年，为全州超600万居民提供电力及天然气服务，非公用事业板块则主要开展美国本土独立发电业务。
希尔顿全球控股是美国跨国酒店管理集团，管理并特许经营涵盖酒店、度假村、分时度假物业在内的多元品牌矩阵。集团由康拉德·希尔顿于1919年5月创立，现任首席执行官为克里斯托弗·J·纳塞塔，总部位于美国弗吉尼亚州泰森斯。
CMS vs HLT — 直观对比
营收规模更大
HLT
是对方的1.4倍
$2.1B
营收增速更快
CMS
高出4.0%
9.0%
净利率更高
CMS
高出0.5%
13.0%
两年增速更快
CMS
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.9B |
| 净利润 | $289.0M | $383.0M |
| 毛利率 | — | — |
| 营业利润率 | 20.4% | 23.1% |
| 净利率 | 13.5% | 13.0% |
| 营收同比 | 13.0% | 9.0% |
| 净利润同比 | 9.1% | 27.7% |
| 每股收益（稀释后） | $0.94 | $1.66 |
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CMSHLT
| Q1 26 | — | $2.9B | ||
| Q4 25 | $2.1B | $3.1B | ||
| Q3 25 | $2.0B | $3.1B | ||
| Q2 25 | $1.8B | $3.1B | ||
| Q1 25 | $2.4B | $2.7B | ||
| Q4 24 | $1.9B | $2.8B | ||
| Q3 24 | $1.7B | $2.9B | ||
| Q2 24 | $1.6B | $3.0B |
净利润CMSHLT
| Q1 26 | — | $383.0M | ||
| Q4 25 | $289.0M | $297.0M | ||
| Q3 25 | $277.0M | $420.0M | ||
| Q2 25 | $201.0M | $440.0M | ||
| Q1 25 | $304.0M | $300.0M | ||
| Q4 24 | $265.0M | $505.0M | ||
| Q3 24 | $253.0M | $344.0M | ||
| Q2 24 | $198.0M | $421.0M |
营业利润率CMSHLT
| Q1 26 | — | 23.1% | ||
| Q4 25 | 20.4% | 19.5% | ||
| Q3 25 | 24.4% | 24.9% | ||
| Q2 25 | 17.6% | 24.8% | ||
| Q1 25 | 20.6% | 19.9% | ||
| Q4 24 | 22.5% | 17.6% | ||
| Q3 24 | 21.4% | 21.7% | ||
| Q2 24 | 18.0% | 24.6% |
净利率CMSHLT
| Q1 26 | — | 13.0% | ||
| Q4 25 | 13.5% | 9.6% | ||
| Q3 25 | 14.0% | 13.5% | ||
| Q2 25 | 11.2% | 14.0% | ||
| Q1 25 | 12.7% | 11.1% | ||
| Q4 24 | 14.0% | 18.1% | ||
| Q3 24 | 14.8% | 12.0% | ||
| Q2 24 | 12.6% | 14.3% |
每股收益（稀释后）CMSHLT
| Q1 26 | — | $1.66 | ||
| Q4 25 | $0.94 | $1.27 | ||
| Q3 25 | $0.92 | $1.78 | ||
| Q2 25 | $0.66 | $1.84 | ||
| Q1 25 | $1.01 | $1.23 | ||
| Q4 24 | $0.88 | $2.05 | ||
| Q3 24 | $0.84 | $1.38 | ||
| Q2 24 | $0.65 | $1.67 |
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 | $509.0M | — |
| 总债务越低越好 | — | $12.4M |
| 股东权益账面价值 | $9.1B | — |
| 总资产 | $39.9B | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CMSHLT
| Q1 26 | — | — | ||
| Q4 25 | $509.0M | $918.0M | ||
| Q3 25 | $362.0M | $1.1B | ||
| Q2 25 | $844.0M | $371.0M | ||
| Q1 25 | $465.0M | $731.0M | ||
| Q4 24 | $103.0M | $1.3B | ||
| Q3 24 | $412.0M | $1.6B | ||
| Q2 24 | $699.0M | $731.0M |
总债务CMSHLT
| Q1 26 | — | $12.4M | ||
| Q4 25 | — | $12.3B | ||
| Q3 25 | — | $11.6B | ||
| Q2 25 | — | $10.9B | ||
| Q1 25 | — | $10.6B | ||
| Q4 24 | — | $10.6B | ||
| Q3 24 | — | $10.6B | ||
| Q2 24 | — | $9.6B |
股东权益CMSHLT
| Q1 26 | — | — | ||
| Q4 25 | $9.1B | $-5.4B | ||
| Q3 25 | $8.9B | $-4.9B | ||
| Q2 25 | $8.4B | $-4.6B | ||
| Q1 25 | $8.3B | $-4.4B | ||
| Q4 24 | $8.2B | $-3.7B | ||
| Q3 24 | $8.1B | $-3.5B | ||
| Q2 24 | $8.0B | $-3.1B |
总资产CMSHLT
| Q1 26 | — | — | ||
| Q4 25 | $39.9B | $16.8B | ||
| Q3 25 | $38.0B | $16.6B | ||
| Q2 25 | $37.7B | $15.9B | ||
| Q1 25 | $36.3B | $16.0B | ||
| Q4 24 | $35.9B | $16.5B | ||
| Q3 24 | $34.8B | $16.7B | ||
| Q2 24 | $34.4B | $15.7B |
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 | $478.0M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流CMSHLT
| Q1 26 | — | — | ||
| Q4 25 | $478.0M | $203.0M | ||
| Q3 25 | $343.0M | $816.0M | ||
| Q2 25 | $414.0M | $658.0M | ||
| Q1 25 | $1.0B | $452.0M | ||
| Q4 24 | $403.0M | $582.0M | ||
| Q3 24 | $304.0M | $664.0M | ||
| Q2 24 | $707.0M | $421.0M |
自由现金流CMSHLT
| Q1 26 | — | — | ||
| Q4 25 | — | $173.0M | ||
| Q3 25 | $-635.0M | $787.0M | ||
| Q2 25 | $-470.0M | $635.0M | ||
| Q1 25 | $112.0M | $433.0M | ||
| Q4 24 | — | $534.0M | ||
| Q3 24 | $-502.0M | $647.0M | ||
| Q2 24 | $26.0M | $406.0M |
自由现金流率CMSHLT
| Q1 26 | — | — | ||
| Q4 25 | — | 5.6% | ||
| Q3 25 | -32.2% | 25.2% | ||
| Q2 25 | -26.1% | 20.2% | ||
| Q1 25 | 4.7% | 16.1% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | -29.3% | 22.6% | ||
| Q2 24 | 1.6% | 13.8% |
资本支出强度CMSHLT
| Q1 26 | — | 0.3% | ||
| Q4 25 | — | 1.0% | ||
| Q3 25 | 49.5% | 0.9% | ||
| Q2 25 | 49.2% | 0.7% | ||
| Q1 25 | 37.0% | 0.7% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | 47.1% | 0.6% | ||
| Q2 24 | 43.2% | 0.5% |
现金转化率CMSHLT
| Q1 26 | — | — | ||
| Q4 25 | 1.65× | 0.68× | ||
| Q3 25 | 1.24× | 1.94× | ||
| Q2 25 | 2.06× | 1.50× | ||
| Q1 25 | 3.29× | 1.51× | ||
| Q4 24 | 1.52× | 1.15× | ||
| Q3 24 | 1.20× | 1.93× | ||
| Q2 24 | 3.57× | 1.00× |
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
CMS
| Electric Utility | $1.3B | 59% |
| Gas Utility | $803.0M | 38% |
| North Star Clean Energy | $77.0M | 4% |
HLT
暂无分部数据
