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CMS Energy（CMS）与J.B. Hunt（JBHT）财务数据对比。点击上方公司名可切换其他公司
J.B. Hunt的季度营收约是CMS Energy的1.5倍（$3.1B vs $2.1B），CMS Energy净利率更高（13.5% vs 5.8%，领先7.7%），CMS Energy同比增速更快（13.0% vs -1.6%），过去两年J.B. Hunt的营收复合增速更高（2.6% 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。
J.B.亨特运输服务公司是总部位于美国阿肯色州洛厄尔的运输物流企业，1961年8月10日由约翰尼·布莱恩·亨特与乔内尔·亨特在阿肯色州创立。截至1983年，公司已成为美国第80大卡车运输企业，营收达6.2347亿美元，当时运营550台牵引车、1049辆挂车，拥有约1050名员工。
CMS vs JBHT — 直观对比
营收规模更大
JBHT
是对方的1.5倍
$2.1B
营收增速更快
CMS
高出14.6%
-1.6%
净利率更高
CMS
高出7.7%
5.8%
两年增速更快
JBHT
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $3.1B |
| 净利润 | $289.0M | $181.1M |
| 毛利率 | — | — |
| 营业利润率 | 20.4% | 8.0% |
| 净利率 | 13.5% | 5.8% |
| 营收同比 | 13.0% | -1.6% |
| 净利润同比 | 9.1% | 16.5% |
| 每股收益（稀释后） | $0.94 | $1.88 |
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CMSJBHT
| Q4 25 | $2.1B | $3.1B | ||
| Q3 25 | $2.0B | $3.1B | ||
| Q2 25 | $1.8B | $2.9B | ||
| Q1 25 | $2.4B | $2.9B | ||
| Q4 24 | $1.9B | $3.1B | ||
| Q3 24 | $1.7B | $3.1B | ||
| Q2 24 | $1.6B | $2.9B | ||
| Q1 24 | $2.1B | $2.9B |
净利润CMSJBHT
| Q4 25 | $289.0M | $181.1M | ||
| Q3 25 | $277.0M | $170.8M | ||
| Q2 25 | $201.0M | $128.6M | ||
| Q1 25 | $304.0M | $117.7M | ||
| Q4 24 | $265.0M | $155.5M | ||
| Q3 24 | $253.0M | $152.1M | ||
| Q2 24 | $198.0M | $135.9M | ||
| Q1 24 | $287.0M | $127.5M |
营业利润率CMSJBHT
| Q4 25 | 20.4% | 8.0% | ||
| Q3 25 | 24.4% | 7.9% | ||
| Q2 25 | 17.6% | 6.7% | ||
| Q1 25 | 20.6% | 6.1% | ||
| Q4 24 | 22.5% | 6.6% | ||
| Q3 24 | 21.4% | 7.3% | ||
| Q2 24 | 18.0% | 7.0% | ||
| Q1 24 | 19.2% | 6.6% |
净利率CMSJBHT
| Q4 25 | 13.5% | 5.8% | ||
| Q3 25 | 14.0% | 5.6% | ||
| Q2 25 | 11.2% | 4.4% | ||
| Q1 25 | 12.7% | 4.0% | ||
| Q4 24 | 14.0% | 4.9% | ||
| Q3 24 | 14.8% | 5.0% | ||
| Q2 24 | 12.6% | 4.6% | ||
| Q1 24 | 13.4% | 4.3% |
每股收益（稀释后）CMSJBHT
| Q4 25 | $0.94 | $1.88 | ||
| Q3 25 | $0.92 | $1.76 | ||
| Q2 25 | $0.66 | $1.31 | ||
| Q1 25 | $1.01 | $1.17 | ||
| Q4 24 | $0.88 | $1.53 | ||
| Q3 24 | $0.84 | $1.49 | ||
| Q2 24 | $0.65 | $1.32 | ||
| Q1 24 | $0.96 | $1.22 |
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 | $17.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.1B | $3.6B |
| 总资产 | $39.9B | $7.9B |
| 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CMSJBHT
| Q4 25 | $509.0M | $17.3M | ||
| Q3 25 | $362.0M | $52.3M | ||
| Q2 25 | $844.0M | $50.9M | ||
| Q1 25 | $465.0M | $43.4M | ||
| Q4 24 | $103.0M | $47.0M | ||
| Q3 24 | $412.0M | $120.0M | ||
| Q2 24 | $699.0M | $53.5M | ||
| Q1 24 | $802.0M | $64.2M |
总债务CMSJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $977.7M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.4B |
股东权益CMSJBHT
| Q4 25 | $9.1B | $3.6B | ||
| Q3 25 | $8.9B | $3.6B | ||
| Q2 25 | $8.4B | $3.7B | ||
| Q1 25 | $8.3B | $3.9B | ||
| Q4 24 | $8.2B | $4.0B | ||
| Q3 24 | $8.1B | $4.0B | ||
| Q2 24 | $8.0B | $4.1B | ||
| Q1 24 | $7.9B | $4.2B |
总资产CMSJBHT
| Q4 25 | $39.9B | $7.9B | ||
| Q3 25 | $38.0B | $8.1B | ||
| Q2 25 | $37.7B | $8.2B | ||
| Q1 25 | $36.3B | $8.3B | ||
| Q4 24 | $35.9B | $8.3B | ||
| Q3 24 | $34.8B | $8.3B | ||
| Q2 24 | $34.4B | $8.4B | ||
| Q1 24 | $33.9B | $8.4B |
负债/权益比CMSJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.24× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.33× |
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 | $385.6M |
| 自由现金流经营现金流 - 资本支出 | — | $251.3M |
| 自由现金流率自由现金流/营收 | — | 8.1% |
| 资本支出强度资本支出/营收 | — | 4.3% |
| 现金转化率经营现金流/净利润 | 1.65× | 2.13× |
| 过去12个月自由现金流最近4个季度 | — | $947.6M |
8季度趋势，按日历期对齐
经营现金流CMSJBHT
| Q4 25 | $478.0M | $385.6M | ||
| Q3 25 | $343.0M | $486.4M | ||
| Q2 25 | $414.0M | $402.1M | ||
| Q1 25 | $1.0B | $404.2M | ||
| Q4 24 | $403.0M | $317.6M | ||
| Q3 24 | $304.0M | $338.5M | ||
| Q2 24 | $707.0M | $360.6M | ||
| Q1 24 | $956.0M | $466.5M |
自由现金流CMSJBHT
| Q4 25 | — | $251.3M | ||
| Q3 25 | $-635.0M | $352.4M | ||
| Q2 25 | $-470.0M | $185.6M | ||
| Q1 25 | $112.0M | $158.4M | ||
| Q4 24 | — | $93.3M | ||
| Q3 24 | $-502.0M | $163.1M | ||
| Q2 24 | $26.0M | $98.2M | ||
| Q1 24 | $343.0M | $263.1M |
自由现金流率CMSJBHT
| Q4 25 | — | 8.1% | ||
| Q3 25 | -32.2% | 11.5% | ||
| Q2 25 | -26.1% | 6.3% | ||
| Q1 25 | 4.7% | 5.4% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | -29.3% | 5.3% | ||
| Q2 24 | 1.6% | 3.4% | ||
| Q1 24 | 16.0% | 8.9% |
资本支出强度CMSJBHT
| Q4 25 | — | 4.3% | ||
| Q3 25 | 49.5% | 4.4% | ||
| Q2 25 | 49.2% | 7.4% | ||
| Q1 25 | 37.0% | 8.4% | ||
| Q4 24 | — | 7.1% | ||
| Q3 24 | 47.1% | 5.7% | ||
| Q2 24 | 43.2% | 9.0% | ||
| Q1 24 | 28.6% | 6.9% |
现金转化率CMSJBHT
| Q4 25 | 1.65× | 2.13× | ||
| Q3 25 | 1.24× | 2.85× | ||
| Q2 25 | 2.06× | 3.13× | ||
| Q1 25 | 3.29× | 3.43× | ||
| Q4 24 | 1.52× | 2.04× | ||
| Q3 24 | 1.20× | 2.23× | ||
| Q2 24 | 3.57× | 2.65× | ||
| Q1 24 | 3.33× | 3.66× |
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% |
JBHT
| JBI | $1.5B | 50% |
| DCS | $842.8M | 27% |
| ICS | $304.5M | 10% |
| FMS | $206.3M | 7% |
| JBT | $200.7M | 6% |
