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CMS Energy（CMS）与Primo Brands Corp（PRMB）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Primo Brands Corp的1.4倍（$2.1B vs $1.6B），CMS Energy净利率更高（13.5% vs -0.8%，领先14.4%）
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。
Primo Brands Corp是一家美加合资饮用水企业，主营多规格桶装水、饮水机、自助补水设备及净水家电，总部位于美国佛罗里达州坦帕市，服务覆盖美国、加拿大、欧洲及以色列的住宅与商业客户。
CMS vs PRMB — 直观对比
营收规模更大
CMS
是对方的1.4倍
$1.6B
净利率更高
CMS
高出14.4%
-0.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.6B |
| 净利润 | $289.0M | $-13.0M |
| 毛利率 | — | 27.7% |
| 营业利润率 | 20.4% | 1.2% |
| 净利率 | 13.5% | -0.8% |
| 营收同比 | 13.0% | — |
| 净利润同比 | 9.1% | — |
| 每股收益（稀释后） | $0.94 | $-0.03 |
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CMSPRMB
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $2.0B | $1.8B | ||
| Q2 25 | $1.8B | $1.7B | ||
| Q1 25 | $2.4B | $1.6B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.7B | $0 | ||
| Q2 24 | $1.6B | $1.3B | ||
| Q1 24 | $2.1B | $1.1B |
净利润CMSPRMB
| Q4 25 | $289.0M | $-13.0M | ||
| Q3 25 | $277.0M | $16.8M | ||
| Q2 25 | $201.0M | $27.6M | ||
| Q1 25 | $304.0M | $28.7M | ||
| Q4 24 | $265.0M | — | ||
| Q3 24 | $253.0M | $-2.0K | ||
| Q2 24 | $198.0M | $54.5M | ||
| Q1 24 | $287.0M | $33.5M |
毛利率CMSPRMB
| Q4 25 | — | 27.7% | ||
| Q3 25 | — | 29.9% | ||
| Q2 25 | — | 31.3% | ||
| Q1 25 | — | 32.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 32.7% | ||
| Q1 24 | — | 30.4% |
营业利润率CMSPRMB
| Q4 25 | 20.4% | 1.2% | ||
| Q3 25 | 24.4% | 8.3% | ||
| Q2 25 | 17.6% | 6.5% | ||
| Q1 25 | 20.6% | 9.5% | ||
| Q4 24 | 22.5% | — | ||
| Q3 24 | 21.4% | — | ||
| Q2 24 | 18.0% | 12.1% | ||
| Q1 24 | 19.2% | 11.0% |
净利率CMSPRMB
| Q4 25 | 13.5% | -0.8% | ||
| Q3 25 | 14.0% | 1.0% | ||
| Q2 25 | 11.2% | 1.6% | ||
| Q1 25 | 12.7% | 1.8% | ||
| Q4 24 | 14.0% | — | ||
| Q3 24 | 14.8% | — | ||
| Q2 24 | 12.6% | 4.1% | ||
| Q1 24 | 13.4% | 2.9% |
每股收益（稀释后）CMSPRMB
| Q4 25 | $0.94 | $-0.03 | ||
| Q3 25 | $0.92 | $0.04 | ||
| Q2 25 | $0.66 | $0.07 | ||
| Q1 25 | $1.01 | $0.08 | ||
| Q4 24 | $0.88 | — | ||
| Q3 24 | $0.84 | $-20.00 | ||
| Q2 24 | $0.65 | $0.25 | ||
| Q1 24 | $0.96 | $0.15 |
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 | $376.7M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $9.1B | $3.0B |
| 总资产 | $39.9B | $10.6B |
| 负债/权益比越低杠杆越低 | — | 1.72× |
8季度趋势，按日历期对齐
现金及短期投资CMSPRMB
| Q4 25 | $509.0M | $376.7M | ||
| Q3 25 | $362.0M | — | ||
| Q2 25 | $844.0M | — | ||
| Q1 25 | $465.0M | — | ||
| Q4 24 | $103.0M | — | ||
| Q3 24 | $412.0M | — | ||
| Q2 24 | $699.0M | — | ||
| Q1 24 | $802.0M | — |
总债务CMSPRMB
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CMSPRMB
| Q4 25 | $9.1B | $3.0B | ||
| Q3 25 | $8.9B | $3.2B | ||
| Q2 25 | $8.4B | $3.2B | ||
| Q1 25 | $8.3B | $3.3B | ||
| Q4 24 | $8.2B | — | ||
| Q3 24 | $8.1B | $-2.0K | ||
| Q2 24 | $8.0B | $-296.8M | ||
| Q1 24 | $7.9B | $-349.8M |
总资产CMSPRMB
| Q4 25 | $39.9B | $10.6B | ||
| Q3 25 | $38.0B | $11.0B | ||
| Q2 25 | $37.7B | $11.0B | ||
| Q1 25 | $36.3B | $11.0B | ||
| Q4 24 | $35.9B | — | ||
| Q3 24 | $34.8B | $0 | ||
| Q2 24 | $34.4B | — | ||
| Q1 24 | $33.9B | — |
负债/权益比CMSPRMB
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $203.1M |
| 自由现金流经营现金流 - 资本支出 | — | $57.3M |
| 自由现金流率自由现金流/营收 | — | 3.7% |
| 资本支出强度资本支出/营收 | — | 9.4% |
| 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 | — | $302.9M |
8季度趋势，按日历期对齐
经营现金流CMSPRMB
| Q4 25 | $478.0M | $203.1M | ||
| Q3 25 | $343.0M | $283.4M | ||
| Q2 25 | $414.0M | $155.0M | ||
| Q1 25 | $1.0B | $38.8M | ||
| Q4 24 | $403.0M | — | ||
| Q3 24 | $304.0M | $0 | ||
| Q2 24 | $707.0M | $102.5M | ||
| Q1 24 | $956.0M | $6.0M |
自由现金流CMSPRMB
| Q4 25 | — | $57.3M | ||
| Q3 25 | $-635.0M | $167.7M | ||
| Q2 25 | $-470.0M | $101.1M | ||
| Q1 25 | $112.0M | $-23.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-502.0M | — | ||
| Q2 24 | $26.0M | $61.4M | ||
| Q1 24 | $343.0M | $-17.5M |
自由现金流率CMSPRMB
| Q4 25 | — | 3.7% | ||
| Q3 25 | -32.2% | 9.5% | ||
| Q2 25 | -26.1% | 5.8% | ||
| Q1 25 | 4.7% | -1.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | -29.3% | — | ||
| Q2 24 | 1.6% | 4.7% | ||
| Q1 24 | 16.0% | -1.5% |
资本支出强度CMSPRMB
| Q4 25 | — | 9.4% | ||
| Q3 25 | 49.5% | 6.6% | ||
| Q2 25 | 49.2% | 3.1% | ||
| Q1 25 | 37.0% | 3.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 47.1% | — | ||
| Q2 24 | 43.2% | 3.1% | ||
| Q1 24 | 28.6% | 2.1% |
现金转化率CMSPRMB
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.24× | 16.87× | ||
| Q2 25 | 2.06× | 5.62× | ||
| Q1 25 | 3.29× | 1.35× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 3.57× | 1.88× | ||
| Q1 24 | 3.33× | 0.18× |
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% |
PRMB
| Regional Spring Water | $765.1M | 49% |
| Purified Water | $484.5M | 31% |
| Other | $188.4M | 12% |
| Premium Water | $90.3M | 6% |
| Other Water | $25.8M | 2% |
