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CMS Energy（CMS）与iHeartMedia, Inc.（IHRT）财务数据对比。点击上方公司名可切换其他公司
CMS Energy的季度营收约是iHeartMedia, Inc.的1.9倍（$2.1B vs $1.1B），CMS Energy净利率更高（13.5% vs -3.7%，领先17.3%），CMS Energy同比增速更快（13.0% vs 0.8%），过去两年iHeartMedia, Inc.的营收复合增速更高（18.8% 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。
iHeartMedia是一家总部位于美国德克萨斯州圣安东尼奥的大众传媒企业，前身为清晰频道通信公司，1972年由劳里·梅斯与雷德·麦库姆斯创立，2008年由贝恩资本和托马斯·李合作伙伴公司通过杠杆收购完成私有化，目前是美国知名的传媒控股集团。
CMS vs IHRT — 直观对比
营收规模更大
CMS
是对方的1.9倍
$1.1B
营收增速更快
CMS
高出12.2%
0.8%
净利率更高
CMS
高出17.3%
-3.7%
两年增速更快
IHRT
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.1B |
| 净利润 | $289.0M | $-41.9M |
| 毛利率 | — | — |
| 营业利润率 | 20.4% | 7.6% |
| 净利率 | 13.5% | -3.7% |
| 营收同比 | 13.0% | 0.8% |
| 净利润同比 | 9.1% | -233.1% |
| 每股收益（稀释后） | $0.94 | $-0.25 |
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CMSIHRT
| Q4 25 | $2.1B | $1.1B | ||
| Q3 25 | $2.0B | $997.0M | ||
| Q2 25 | $1.8B | $933.7M | ||
| Q1 25 | $2.4B | $807.1M | ||
| Q4 24 | $1.9B | $1.1B | ||
| Q3 24 | $1.7B | $1.0B | ||
| Q2 24 | $1.6B | $929.1M | ||
| Q1 24 | $2.1B | $799.0M |
净利润CMSIHRT
| Q4 25 | $289.0M | $-41.9M | ||
| Q3 25 | $277.0M | $-66.3M | ||
| Q2 25 | $201.0M | $-83.5M | ||
| Q1 25 | $304.0M | $-281.2M | ||
| Q4 24 | $265.0M | $31.5M | ||
| Q3 24 | $253.0M | $-41.3M | ||
| Q2 24 | $198.0M | $-981.7M | ||
| Q1 24 | $287.0M | $-18.5M |
营业利润率CMSIHRT
| Q4 25 | 20.4% | 7.6% | ||
| Q3 25 | 24.4% | -11.7% | ||
| Q2 25 | 17.6% | 3.8% | ||
| Q1 25 | 20.6% | -3.2% | ||
| Q4 24 | 22.5% | 9.3% | ||
| Q3 24 | 21.4% | 7.6% | ||
| Q2 24 | 18.0% | -97.9% | ||
| Q1 24 | 19.2% | -4.3% |
净利率CMSIHRT
| Q4 25 | 13.5% | -3.7% | ||
| Q3 25 | 14.0% | -6.6% | ||
| Q2 25 | 11.2% | -8.9% | ||
| Q1 25 | 12.7% | -34.8% | ||
| Q4 24 | 14.0% | 2.8% | ||
| Q3 24 | 14.8% | -4.1% | ||
| Q2 24 | 12.6% | -105.7% | ||
| Q1 24 | 13.4% | -2.3% |
每股收益（稀释后）CMSIHRT
| Q4 25 | $0.94 | $-0.25 | ||
| Q3 25 | $0.92 | $-0.43 | ||
| Q2 25 | $0.66 | $-0.54 | ||
| Q1 25 | $1.01 | $-1.84 | ||
| Q4 24 | $0.88 | $0.21 | ||
| Q3 24 | $0.84 | $-0.27 | ||
| Q2 24 | $0.65 | $-6.50 | ||
| Q1 24 | $0.96 | $-0.12 |
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 | $270.9M |
| 总债务越低越好 | — | $5.1B |
| 股东权益账面价值 | $9.1B | $-1.8B |
| 总资产 | $39.9B | $5.1B |
| 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CMSIHRT
| Q4 25 | $509.0M | $270.9M | ||
| Q3 25 | $362.0M | $192.2M | ||
| Q2 25 | $844.0M | $235.9M | ||
| Q1 25 | $465.0M | $167.7M | ||
| Q4 24 | $103.0M | $259.6M | ||
| Q3 24 | $412.0M | $431.8M | ||
| Q2 24 | $699.0M | $364.7M | ||
| Q1 24 | $802.0M | $361.4M |
总债务CMSIHRT
| Q4 25 | — | $5.1B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | — | $5.1B |
股东权益CMSIHRT
| Q4 25 | $9.1B | $-1.8B | ||
| Q3 25 | $8.9B | $-1.8B | ||
| Q2 25 | $8.4B | $-1.7B | ||
| Q1 25 | $8.3B | $-1.6B | ||
| Q4 24 | $8.2B | $-1.4B | ||
| Q3 24 | $8.1B | $-1.4B | ||
| Q2 24 | $8.0B | $-1.4B | ||
| Q1 24 | $7.9B | $-398.6M |
总资产CMSIHRT
| Q4 25 | $39.9B | $5.1B | ||
| Q3 25 | $38.0B | $5.1B | ||
| Q2 25 | $37.7B | $5.4B | ||
| Q1 25 | $36.3B | $5.3B | ||
| Q4 24 | $35.9B | $5.6B | ||
| Q3 24 | $34.8B | $5.8B | ||
| Q2 24 | $34.4B | $5.8B | ||
| Q1 24 | $33.9B | $6.8B |
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 | $156.3M |
| 自由现金流经营现金流 - 资本支出 | — | $137.6M |
| 自由现金流率自由现金流/营收 | — | 12.2% |
| 资本支出强度资本支出/营收 | — | 1.7% |
| 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 | — | $10.9M |
8季度趋势，按日历期对齐
经营现金流CMSIHRT
| Q4 25 | $478.0M | $156.3M | ||
| Q3 25 | $343.0M | $-9.5M | ||
| Q2 25 | $414.0M | $6.8M | ||
| Q1 25 | $1.0B | $-60.9M | ||
| Q4 24 | $403.0M | $1.2M | ||
| Q3 24 | $304.0M | $102.8M | ||
| Q2 24 | $707.0M | $26.7M | ||
| Q1 24 | $956.0M | $-59.3M |
自由现金流CMSIHRT
| Q4 25 | — | $137.6M | ||
| Q3 25 | $-635.0M | $-32.8M | ||
| Q2 25 | $-470.0M | $-13.2M | ||
| Q1 25 | $112.0M | $-80.7M | ||
| Q4 24 | — | $-24.2M | ||
| Q3 24 | $-502.0M | $73.3M | ||
| Q2 24 | $26.0M | $5.6M | ||
| Q1 24 | $343.0M | $-80.9M |
自由现金流率CMSIHRT
| Q4 25 | — | 12.2% | ||
| Q3 25 | -32.2% | -3.3% | ||
| Q2 25 | -26.1% | -1.4% | ||
| Q1 25 | 4.7% | -10.0% | ||
| Q4 24 | — | -2.2% | ||
| Q3 24 | -29.3% | 7.3% | ||
| Q2 24 | 1.6% | 0.6% | ||
| Q1 24 | 16.0% | -10.1% |
资本支出强度CMSIHRT
| Q4 25 | — | 1.7% | ||
| Q3 25 | 49.5% | 2.3% | ||
| Q2 25 | 49.2% | 2.1% | ||
| Q1 25 | 37.0% | 2.4% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | 47.1% | 2.9% | ||
| Q2 24 | 43.2% | 2.3% | ||
| Q1 24 | 28.6% | 2.7% |
现金转化率CMSIHRT
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 1.52× | 0.04× | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 3.57× | — | ||
| Q1 24 | 3.33× | — |
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% |
IHRT
| Broadcast Radio | $469.9M | 42% |
| Digital Non Podcast | $212.9M | 19% |
| Tradeand Barter Transactions | $124.4M | 11% |
| Networks | $118.2M | 10% |
| Audio And Media Services Group Segment | $78.9M | 7% |
| Sponsorship And Events | $71.4M | 6% |
| Advertising Trade And Barter Transactions | $23.7M | 2% |
| Other | $22.7M | 2% |
