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CMS Energy（CMS）与Post Holdings, Inc.（POST）财务数据对比。点击上方公司名可切换其他公司
Post Holdings, Inc.的季度营收约是CMS Energy的1.0倍（$2.2B vs $2.1B），CMS Energy净利率更高（13.5% vs 4.5%，领先9.1%），CMS Energy同比增速更快（13.0% vs 10.1%），过去两年Post Holdings, Inc.的营收复合增速更高（4.3% 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。
Post Holdings, Inc.是美国头部包装消费品食品生产商，旗下拥有知名食品业务板块Post Consumer Brands，总部坐落于明尼苏达州莱克维尔，其生产的食品类快消品覆盖北美及全球多个市场，深受消费者喜爱。
CMS vs POST — 直观对比
营收规模更大
POST
是对方的1.0倍
$2.1B
营收增速更快
CMS
高出2.8%
10.1%
净利率更高
CMS
高出9.1%
4.5%
两年增速更快
POST
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.2B |
| 净利润 | $289.0M | $96.8M |
| 毛利率 | — | 29.4% |
| 营业利润率 | 20.4% | 11.0% |
| 净利率 | 13.5% | 4.5% |
| 营收同比 | 13.0% | 10.1% |
| 净利润同比 | 9.1% | -14.6% |
| 每股收益（稀释后） | $0.94 | $1.71 |
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CMSPOST
| Q4 25 | $2.1B | $2.2B | ||
| Q3 25 | $2.0B | $2.2B | ||
| Q2 25 | $1.8B | $2.0B | ||
| Q1 25 | $2.4B | $2.0B | ||
| Q4 24 | $1.9B | $2.0B | ||
| Q3 24 | $1.7B | $2.0B | ||
| Q2 24 | $1.6B | $1.9B | ||
| Q1 24 | $2.1B | $2.0B |
净利润CMSPOST
| Q4 25 | $289.0M | $96.8M | ||
| Q3 25 | $277.0M | $51.0M | ||
| Q2 25 | $201.0M | $108.8M | ||
| Q1 25 | $304.0M | $62.6M | ||
| Q4 24 | $265.0M | $113.3M | ||
| Q3 24 | $253.0M | $81.6M | ||
| Q2 24 | $198.0M | $99.8M | ||
| Q1 24 | $287.0M | $97.2M |
毛利率CMSPOST
| Q4 25 | — | 29.4% | ||
| Q3 25 | — | 26.8% | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | — | 28.0% | ||
| Q4 24 | — | 30.1% | ||
| Q3 24 | — | 28.6% | ||
| Q2 24 | — | 29.6% | ||
| Q1 24 | — | 29.0% |
营业利润率CMSPOST
| Q4 25 | 20.4% | 11.0% | ||
| Q3 25 | 24.4% | 7.5% | ||
| Q2 25 | 17.6% | 11.8% | ||
| Q1 25 | 20.6% | 9.3% | ||
| Q4 24 | 22.5% | 10.8% | ||
| Q3 24 | 21.4% | 9.5% | ||
| Q2 24 | 18.0% | 10.4% | ||
| Q1 24 | 19.2% | 9.5% |
净利率CMSPOST
| Q4 25 | 13.5% | 4.5% | ||
| Q3 25 | 14.0% | 2.3% | ||
| Q2 25 | 11.2% | 5.5% | ||
| Q1 25 | 12.7% | 3.2% | ||
| Q4 24 | 14.0% | 5.7% | ||
| Q3 24 | 14.8% | 4.1% | ||
| Q2 24 | 12.6% | 5.1% | ||
| Q1 24 | 13.4% | 4.9% |
每股收益（稀释后）CMSPOST
| Q4 25 | $0.94 | $1.71 | ||
| Q3 25 | $0.92 | $0.91 | ||
| Q2 25 | $0.66 | $1.79 | ||
| Q1 25 | $1.01 | $1.03 | ||
| Q4 24 | $0.88 | $1.78 | ||
| Q3 24 | $0.84 | $1.28 | ||
| Q2 24 | $0.65 | $1.53 | ||
| Q1 24 | $0.96 | $1.48 |
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 | $279.3M |
| 总债务越低越好 | — | $7.5B |
| 股东权益账面价值 | $9.1B | $3.5B |
| 总资产 | $39.9B | $13.0B |
| 负债/权益比越低杠杆越低 | — | 2.16× |
8季度趋势，按日历期对齐
现金及短期投资CMSPOST
| Q4 25 | $509.0M | $279.3M | ||
| Q3 25 | $362.0M | $176.7M | ||
| Q2 25 | $844.0M | $1.1B | ||
| Q1 25 | $465.0M | $617.6M | ||
| Q4 24 | $103.0M | $872.9M | ||
| Q3 24 | $412.0M | $787.4M | ||
| Q2 24 | $699.0M | $333.8M | ||
| Q1 24 | $802.0M | $333.4M |
总债务CMSPOST
| Q4 25 | — | $7.5B | ||
| Q3 25 | — | $7.4B | ||
| Q2 25 | — | $7.3B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | — | $6.9B | ||
| Q3 24 | — | $6.8B | ||
| Q2 24 | — | $6.4B | ||
| Q1 24 | — | $6.4B |
股东权益CMSPOST
| Q4 25 | $9.1B | $3.5B | ||
| Q3 25 | $8.9B | $3.8B | ||
| Q2 25 | $8.4B | $4.0B | ||
| Q1 25 | $8.3B | $3.8B | ||
| Q4 24 | $8.2B | $3.9B | ||
| Q3 24 | $8.1B | $4.1B | ||
| Q2 24 | $8.0B | $3.9B | ||
| Q1 24 | $7.9B | $4.0B |
总资产CMSPOST
| Q4 25 | $39.9B | $13.0B | ||
| Q3 25 | $38.0B | $13.5B | ||
| Q2 25 | $37.7B | $13.4B | ||
| Q1 25 | $36.3B | $12.8B | ||
| Q4 24 | $35.9B | $12.8B | ||
| Q3 24 | $34.8B | $12.9B | ||
| Q2 24 | $34.4B | $12.1B | ||
| Q1 24 | $33.9B | $12.2B |
负债/权益比CMSPOST
| Q4 25 | — | 2.16× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | 1.84× | ||
| Q1 25 | — | 1.81× | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 1.62× | ||
| Q1 24 | — | 1.61× |
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 | $235.7M |
| 自由现金流经营现金流 - 资本支出 | — | $119.3M |
| 自由现金流率自由现金流/营收 | — | 5.5% |
| 资本支出强度资本支出/营收 | — | 5.4% |
| 现金转化率经营现金流/净利润 | 1.65× | 2.43× |
| 过去12个月自由现金流最近4个季度 | — | $436.0M |
8季度趋势，按日历期对齐
经营现金流CMSPOST
| Q4 25 | $478.0M | $235.7M | ||
| Q3 25 | $343.0M | $301.3M | ||
| Q2 25 | $414.0M | $225.9M | ||
| Q1 25 | $1.0B | $160.7M | ||
| Q4 24 | $403.0M | $310.4M | ||
| Q3 24 | $304.0M | $235.4M | ||
| Q2 24 | $707.0M | $272.3M | ||
| Q1 24 | $956.0M | $249.6M |
自由现金流CMSPOST
| Q4 25 | — | $119.3M | ||
| Q3 25 | $-635.0M | $151.6M | ||
| Q2 25 | $-470.0M | $94.9M | ||
| Q1 25 | $112.0M | $70.2M | ||
| Q4 24 | — | $171.4M | ||
| Q3 24 | $-502.0M | $96.2M | ||
| Q2 24 | $26.0M | $161.5M | ||
| Q1 24 | $343.0M | $150.9M |
自由现金流率CMSPOST
| Q4 25 | — | 5.5% | ||
| Q3 25 | -32.2% | 6.7% | ||
| Q2 25 | -26.1% | 4.8% | ||
| Q1 25 | 4.7% | 3.6% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | -29.3% | 4.8% | ||
| Q2 24 | 1.6% | 8.3% | ||
| Q1 24 | 16.0% | 7.5% |
资本支出强度CMSPOST
| Q4 25 | — | 5.4% | ||
| Q3 25 | 49.5% | 6.7% | ||
| Q2 25 | 49.2% | 6.6% | ||
| Q1 25 | 37.0% | 4.6% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | 47.1% | 6.9% | ||
| Q2 24 | 43.2% | 5.7% | ||
| Q1 24 | 28.6% | 4.9% |
现金转化率CMSPOST
| Q4 25 | 1.65× | 2.43× | ||
| Q3 25 | 1.24× | 5.91× | ||
| Q2 25 | 2.06× | 2.08× | ||
| Q1 25 | 3.29× | 2.57× | ||
| Q4 24 | 1.52× | 2.74× | ||
| Q3 24 | 1.20× | 2.88× | ||
| Q2 24 | 3.57× | 2.73× | ||
| Q1 24 | 3.33× | 2.57× |
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% |
POST
| Post Consumer Brands Segment | $1.1B | 51% |
| Pet Food | $360.4M | 17% |
| Side Dishes | $221.5M | 10% |
| Weetabix | $137.9M | 6% |
| Other | $122.1M | 6% |
| Nut Butters | $105.8M | 5% |
| Sausage | $53.1M | 2% |
| Cheeseand Dairy | $41.3M | 2% |
| Protein Based Shakes | $29.3M | 1% |
| Bell Ring | $18.1M | 1% |
