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CMS Energy（CMS）与欧文斯科宁（OC）财务数据对比。点击上方公司名可切换其他公司
欧文斯科宁的季度营收约是CMS Energy的1.0倍（$2.1B vs $2.1B），CMS Energy净利率更高（13.5% vs -13.9%，领先27.5%），CMS Energy同比增速更快（13.0% vs -24.6%），过去两年CMS Energy的营收复合增速更高（-0.2% vs -3.5%）
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。
欧文斯科宁是美国知名建材及复合材料企业，1935年由康宁玻璃厂与欧文斯-伊利诺伊公司合资组建。主营保温材料、屋面材料、玻璃纤维复合材料及相关产品，是全球最大的玻璃纤维复合材料生产商，全球员工约1.9万人，自1955年《财富》500强榜单创立以来连年上榜。
CMS vs OC — 直观对比
营收规模更大
OC
是对方的1.0倍
$2.1B
营收增速更快
CMS
高出37.5%
-24.6%
净利率更高
CMS
高出27.5%
-13.9%
两年增速更快
CMS
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.1B |
| 净利润 | $289.0M | $-298.0M |
| 毛利率 | — | 23.2% |
| 营业利润率 | 20.4% | -10.5% |
| 净利率 | 13.5% | -13.9% |
| 营收同比 | 13.0% | -24.6% |
| 净利润同比 | 9.1% | -15.5% |
| 每股收益（稀释后） | $0.94 | $-3.47 |
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CMSOC
| Q4 25 | $2.1B | $2.1B | ||
| Q3 25 | $2.0B | $2.7B | ||
| Q2 25 | $1.8B | $2.7B | ||
| Q1 25 | $2.4B | $2.5B | ||
| Q4 24 | $1.9B | $2.8B | ||
| Q3 24 | $1.7B | $3.0B | ||
| Q2 24 | $1.6B | $2.8B | ||
| Q1 24 | $2.1B | $2.3B |
净利润CMSOC
| Q4 25 | $289.0M | $-298.0M | ||
| Q3 25 | $277.0M | $-494.0M | ||
| Q2 25 | $201.0M | $363.0M | ||
| Q1 25 | $304.0M | $-93.0M | ||
| Q4 24 | $265.0M | $-258.0M | ||
| Q3 24 | $253.0M | $321.0M | ||
| Q2 24 | $198.0M | $285.0M | ||
| Q1 24 | $287.0M | $299.0M |
毛利率CMSOC
| Q4 25 | — | 23.2% | ||
| Q3 25 | — | 28.2% | ||
| Q2 25 | — | 31.2% | ||
| Q1 25 | — | 28.7% | ||
| Q4 24 | — | 28.1% | ||
| Q3 24 | — | 29.8% | ||
| Q2 24 | — | 31.1% | ||
| Q1 24 | — | 29.6% |
营业利润率CMSOC
| Q4 25 | 20.4% | -10.5% | ||
| Q3 25 | 24.4% | -12.2% | ||
| Q2 25 | 17.6% | 18.4% | ||
| Q1 25 | 20.6% | 16.1% | ||
| Q4 24 | 22.5% | -8.5% | ||
| Q3 24 | 21.4% | 16.7% | ||
| Q2 24 | 18.0% | 16.4% | ||
| Q1 24 | 19.2% | 17.5% |
净利率CMSOC
| Q4 25 | 13.5% | -13.9% | ||
| Q3 25 | 14.0% | -18.4% | ||
| Q2 25 | 11.2% | 13.2% | ||
| Q1 25 | 12.7% | -3.7% | ||
| Q4 24 | 14.0% | -9.1% | ||
| Q3 24 | 14.8% | 10.5% | ||
| Q2 24 | 12.6% | 10.2% | ||
| Q1 24 | 13.4% | 13.0% |
每股收益（稀释后）CMSOC
| Q4 25 | $0.94 | $-3.47 | ||
| Q3 25 | $0.92 | $-5.92 | ||
| Q2 25 | $0.66 | $4.25 | ||
| Q1 25 | $1.01 | $-1.08 | ||
| Q4 24 | $0.88 | $-2.92 | ||
| Q3 24 | $0.84 | $3.65 | ||
| Q2 24 | $0.65 | $3.24 | ||
| Q1 24 | $0.96 | $3.40 |
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 | $345.0M |
| 总债务越低越好 | — | $4.7B |
| 股东权益账面价值 | $9.1B | $3.9B |
| 总资产 | $39.9B | $13.0B |
| 负债/权益比越低杠杆越低 | — | 1.22× |
8季度趋势，按日历期对齐
现金及短期投资CMSOC
| Q4 25 | $509.0M | $345.0M | ||
| Q3 25 | $362.0M | $286.0M | ||
| Q2 25 | $844.0M | $230.0M | ||
| Q1 25 | $465.0M | $400.0M | ||
| Q4 24 | $103.0M | $361.0M | ||
| Q3 24 | $412.0M | $499.0M | ||
| Q2 24 | $699.0M | $254.0M | ||
| Q1 24 | $802.0M | $1.3B |
总债务CMSOC
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $5.0B | ||
| Q1 24 | — | $2.6B |
股东权益CMSOC
| Q4 25 | $9.1B | $3.9B | ||
| Q3 25 | $8.9B | $4.4B | ||
| Q2 25 | $8.4B | $5.2B | ||
| Q1 25 | $8.3B | $4.9B | ||
| Q4 24 | $8.2B | $5.1B | ||
| Q3 24 | $8.1B | $5.6B | ||
| Q2 24 | $8.0B | $5.5B | ||
| Q1 24 | $7.9B | $5.2B |
总资产CMSOC
| Q4 25 | $39.9B | $13.0B | ||
| Q3 25 | $38.0B | $13.5B | ||
| Q2 25 | $37.7B | $14.5B | ||
| Q1 25 | $36.3B | $14.3B | ||
| Q4 24 | $35.9B | $14.1B | ||
| Q3 24 | $34.8B | $15.1B | ||
| Q2 24 | $34.4B | $15.0B | ||
| Q1 24 | $33.9B | $11.3B |
负债/权益比CMSOC
| Q4 25 | — | 1.22× | ||
| Q3 25 | — | 1.06× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | 1.01× | ||
| Q3 24 | — | 0.89× | ||
| Q2 24 | — | 0.92× | ||
| Q1 24 | — | 0.51× |
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 | $590.0M |
| 自由现金流经营现金流 - 资本支出 | — | $333.0M |
| 自由现金流率自由现金流/营收 | — | 15.5% |
| 资本支出强度资本支出/营收 | — | 12.0% |
| 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 | — | $962.0M |
8季度趋势，按日历期对齐
经营现金流CMSOC
| Q4 25 | $478.0M | $590.0M | ||
| Q3 25 | $343.0M | $918.0M | ||
| Q2 25 | $414.0M | $327.0M | ||
| Q1 25 | $1.0B | $-49.0M | ||
| Q4 24 | $403.0M | $676.0M | ||
| Q3 24 | $304.0M | $699.0M | ||
| Q2 24 | $707.0M | $493.0M | ||
| Q1 24 | $956.0M | $24.0M |
自由现金流CMSOC
| Q4 25 | — | $333.0M | ||
| Q3 25 | $-635.0M | $752.0M | ||
| Q2 25 | $-470.0M | $129.0M | ||
| Q1 25 | $112.0M | $-252.0M | ||
| Q4 24 | — | $479.0M | ||
| Q3 24 | $-502.0M | $558.0M | ||
| Q2 24 | $26.0M | $336.0M | ||
| Q1 24 | $343.0M | $-128.0M |
自由现金流率CMSOC
| Q4 25 | — | 15.5% | ||
| Q3 25 | -32.2% | 28.0% | ||
| Q2 25 | -26.1% | 4.7% | ||
| Q1 25 | 4.7% | -10.0% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | -29.3% | 18.3% | ||
| Q2 24 | 1.6% | 12.0% | ||
| Q1 24 | 16.0% | -5.6% |
资本支出强度CMSOC
| Q4 25 | — | 12.0% | ||
| Q3 25 | 49.5% | 6.2% | ||
| Q2 25 | 49.2% | 7.2% | ||
| Q1 25 | 37.0% | 8.0% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | 47.1% | 4.6% | ||
| Q2 24 | 43.2% | 5.6% | ||
| Q1 24 | 28.6% | 6.6% |
现金转化率CMSOC
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 2.06× | 0.90× | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 1.20× | 2.18× | ||
| Q2 24 | 3.57× | 1.73× | ||
| Q1 24 | 3.33× | 0.08× |
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% |
OC
| Insulation | $724.0M | 34% |
| Residential | $625.0M | 29% |
| Doors | $427.0M | 20% |
| Discontinued Operations Disposed Of By Sale | $299.0M | 14% |
| Commercial And Industrial Sector | $101.0M | 5% |
