vs
CMS Energy（CMS）与罗致恒富（RHI）财务数据对比。点击上方公司名可切换其他公司
CMS Energy的季度营收约是罗致恒富的1.6倍（$2.1B vs $1.3B），CMS Energy同比增速更快（13.0% vs -5.8%），过去两年CMS Energy的营收复合增速更高（-0.2% vs -6.1%）
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。
罗致恒富是1948年成立的国际人力资源咨询机构，总部位于加利福尼亚州门洛帕克和圣拉蒙，是全球规模领先的会计与金融领域人才派遣服务商之一，在全球范围内设有超过345个办公点。
CMS vs RHI — 直观对比
营收规模更大
CMS
是对方的1.6倍
$1.3B
营收增速更快
CMS
高出18.8%
-5.8%
两年增速更快
CMS
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.3B |
| 净利润 | $289.0M | — |
| 毛利率 | — | 37.6% |
| 营业利润率 | 20.4% | 1.7% |
| 净利率 | 13.5% | — |
| 营收同比 | 13.0% | -5.8% |
| 净利润同比 | 9.1% | — |
| 每股收益（稀释后） | $0.94 | $0.32 |
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CMSRHI
| Q4 25 | $2.1B | $1.3B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $1.8B | $1.4B | ||
| Q1 25 | $2.4B | $1.4B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $1.7B | $1.5B | ||
| Q2 24 | $1.6B | $1.5B | ||
| Q1 24 | $2.1B | $1.5B |
净利润CMSRHI
| Q4 25 | $289.0M | — | ||
| Q3 25 | $277.0M | $42.9M | ||
| Q2 25 | $201.0M | $41.0M | ||
| Q1 25 | $304.0M | $17.4M | ||
| Q4 24 | $265.0M | — | ||
| Q3 24 | $253.0M | $65.5M | ||
| Q2 24 | $198.0M | $68.2M | ||
| Q1 24 | $287.0M | $63.7M |
毛利率CMSRHI
| Q4 25 | — | 37.6% | ||
| Q3 25 | — | 37.2% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 36.9% | ||
| Q4 24 | — | 38.8% | ||
| Q3 24 | — | 39.0% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 38.1% |
营业利润率CMSRHI
| Q4 25 | 20.4% | 1.7% | ||
| Q3 25 | 24.4% | 1.0% | ||
| Q2 25 | 17.6% | 0.1% | ||
| Q1 25 | 20.6% | 2.9% | ||
| Q4 24 | 22.5% | 4.7% | ||
| Q3 24 | 21.4% | 4.1% | ||
| Q2 24 | 18.0% | 5.1% | ||
| Q1 24 | 19.2% | 2.8% |
净利率CMSRHI
| Q4 25 | 13.5% | — | ||
| Q3 25 | 14.0% | 3.2% | ||
| Q2 25 | 11.2% | 3.0% | ||
| Q1 25 | 12.7% | 1.3% | ||
| Q4 24 | 14.0% | — | ||
| Q3 24 | 14.8% | 4.5% | ||
| Q2 24 | 12.6% | 4.6% | ||
| Q1 24 | 13.4% | 4.3% |
每股收益（稀释后）CMSRHI
| Q4 25 | $0.94 | $0.32 | ||
| Q3 25 | $0.92 | $0.43 | ||
| Q2 25 | $0.66 | $0.41 | ||
| Q1 25 | $1.01 | $0.17 | ||
| Q4 24 | $0.88 | $0.53 | ||
| Q3 24 | $0.84 | $0.64 | ||
| Q2 24 | $0.65 | $0.66 | ||
| Q1 24 | $0.96 | $0.61 |
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 | $464.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.1B | $1.3B |
| 总资产 | $39.9B | $2.9B |
| 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CMSRHI
| Q4 25 | $509.0M | $464.4M | ||
| Q3 25 | $362.0M | $365.3M | ||
| Q2 25 | $844.0M | $380.5M | ||
| Q1 25 | $465.0M | $342.5M | ||
| Q4 24 | $103.0M | $537.6M | ||
| Q3 24 | $412.0M | $570.5M | ||
| Q2 24 | $699.0M | $547.4M | ||
| Q1 24 | $802.0M | $540.9M |
股东权益CMSRHI
| Q4 25 | $9.1B | $1.3B | ||
| Q3 25 | $8.9B | $1.3B | ||
| Q2 25 | $8.4B | $1.3B | ||
| Q1 25 | $8.3B | $1.3B | ||
| Q4 24 | $8.2B | $1.4B | ||
| Q3 24 | $8.1B | $1.5B | ||
| Q2 24 | $8.0B | $1.5B | ||
| Q1 24 | $7.9B | $1.5B |
总资产CMSRHI
| Q4 25 | $39.9B | $2.9B | ||
| Q3 25 | $38.0B | $2.8B | ||
| Q2 25 | $37.7B | $2.8B | ||
| Q1 25 | $36.3B | $2.7B | ||
| Q4 24 | $35.9B | $2.9B | ||
| Q3 24 | $34.8B | $3.0B | ||
| Q2 24 | $34.4B | $2.9B | ||
| Q1 24 | $33.9B | $2.9B |
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 | $182.5M |
| 自由现金流经营现金流 - 资本支出 | — | $170.8M |
| 自由现金流率自由现金流/营收 | — | 13.1% |
| 资本支出强度资本支出/营收 | — | 0.9% |
| 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 | — | $266.8M |
8季度趋势，按日历期对齐
经营现金流CMSRHI
| Q4 25 | $478.0M | $182.5M | ||
| Q3 25 | $343.0M | $77.4M | ||
| Q2 25 | $414.0M | $119.4M | ||
| Q1 25 | $1.0B | $-59.3M | ||
| Q4 24 | $403.0M | $154.8M | ||
| Q3 24 | $304.0M | $129.6M | ||
| Q2 24 | $707.0M | $142.0M | ||
| Q1 24 | $956.0M | $-15.9M |
自由现金流CMSRHI
| Q4 25 | — | $170.8M | ||
| Q3 25 | $-635.0M | $63.6M | ||
| Q2 25 | $-470.0M | $104.2M | ||
| Q1 25 | $112.0M | $-71.7M | ||
| Q4 24 | — | $140.5M | ||
| Q3 24 | $-502.0M | $111.8M | ||
| Q2 24 | $26.0M | $129.6M | ||
| Q1 24 | $343.0M | $-27.7M |
自由现金流率CMSRHI
| Q4 25 | — | 13.1% | ||
| Q3 25 | -32.2% | 4.7% | ||
| Q2 25 | -26.1% | 7.6% | ||
| Q1 25 | 4.7% | -5.3% | ||
| Q4 24 | — | 10.2% | ||
| Q3 24 | -29.3% | 7.6% | ||
| Q2 24 | 1.6% | 8.8% | ||
| Q1 24 | 16.0% | -1.9% |
资本支出强度CMSRHI
| Q4 25 | — | 0.9% | ||
| Q3 25 | 49.5% | 1.0% | ||
| Q2 25 | 49.2% | 1.1% | ||
| Q1 25 | 37.0% | 0.9% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | 47.1% | 1.2% | ||
| Q2 24 | 43.2% | 0.8% | ||
| Q1 24 | 28.6% | 0.8% |
现金转化率CMSRHI
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.24× | 1.80× | ||
| Q2 25 | 2.06× | 2.91× | ||
| Q1 25 | 3.29× | -3.42× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 1.20× | 1.98× | ||
| Q2 24 | 3.57× | 2.08× | ||
| Q1 24 | 3.33× | -0.25× |
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% |
RHI
| Finance And Accounting | $535.2M | 41% |
| Protiviti | $479.0M | 37% |
| Technology | $156.4M | 12% |
| Permanent Placement Talent Solutions | $102.6M | 8% |
| Other | $29.2M | 2% |
