vs
CMS Energy（CMS）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
CMS Energy的季度营收约是瑞思迈的1.5倍（$2.1B vs $1.4B），瑞思迈净利率更高（27.6% vs 13.5%，领先14.1%），CMS Energy同比增速更快（13.0% vs 11.0%），过去两年瑞思迈的营收复合增速更高（7.9% 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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
CMS vs RMD — 直观对比
营收规模更大
CMS
是对方的1.5倍
$1.4B
营收增速更快
CMS
高出2.0%
11.0%
净利率更高
RMD
高出14.1%
13.5%
两年增速更快
RMD
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.4B |
| 净利润 | $289.0M | $392.6M |
| 毛利率 | — | 61.8% |
| 营业利润率 | 20.4% | 34.6% |
| 净利率 | 13.5% | 27.6% |
| 营收同比 | 13.0% | 11.0% |
| 净利润同比 | 9.1% | 13.9% |
| 每股收益（稀释后） | $0.94 | $2.68 |
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CMSRMD
| Q2 26 | — | $1.4B | ||
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $2.0B | $1.3B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $1.9B | $1.3B | ||
| Q3 24 | $1.7B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B |
净利润CMSRMD
| Q2 26 | — | $392.6M | ||
| Q4 25 | $289.0M | $392.6M | ||
| Q3 25 | $277.0M | $348.5M | ||
| Q2 25 | $201.0M | $379.7M | ||
| Q1 25 | $304.0M | $365.0M | ||
| Q4 24 | $265.0M | $344.6M | ||
| Q3 24 | $253.0M | $311.4M | ||
| Q2 24 | $198.0M | $292.2M |
毛利率CMSRMD
| Q2 26 | — | 61.8% | ||
| Q4 25 | — | 61.8% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 60.8% | ||
| Q1 25 | — | 59.3% | ||
| Q4 24 | — | 58.6% | ||
| Q3 24 | — | 58.6% | ||
| Q2 24 | — | 58.5% |
营业利润率CMSRMD
| Q2 26 | — | 34.6% | ||
| Q4 25 | 20.4% | 34.6% | ||
| Q3 25 | 24.4% | 33.4% | ||
| Q2 25 | 17.6% | 33.7% | ||
| Q1 25 | 20.6% | 33.0% | ||
| Q4 24 | 22.5% | 32.5% | ||
| Q3 24 | 21.4% | 31.6% | ||
| Q2 24 | 18.0% | 31.2% |
净利率CMSRMD
| Q2 26 | — | 27.6% | ||
| Q4 25 | 13.5% | 27.6% | ||
| Q3 25 | 14.0% | 26.1% | ||
| Q2 25 | 11.2% | 28.2% | ||
| Q1 25 | 12.7% | 28.3% | ||
| Q4 24 | 14.0% | 26.9% | ||
| Q3 24 | 14.8% | 25.4% | ||
| Q2 24 | 12.6% | 23.9% |
每股收益（稀释后）CMSRMD
| Q2 26 | — | $2.68 | ||
| Q4 25 | $0.94 | $2.68 | ||
| Q3 25 | $0.92 | $2.37 | ||
| Q2 25 | $0.66 | $2.58 | ||
| Q1 25 | $1.01 | $2.48 | ||
| Q4 24 | $0.88 | $2.34 | ||
| Q3 24 | $0.84 | $2.11 | ||
| Q2 24 | $0.65 | $1.97 |
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 | $1.4B |
| 总债务越低越好 | — | $663.8M |
| 股东权益账面价值 | $9.1B | $6.3B |
| 总资产 | $39.9B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.11× |
8季度趋势，按日历期对齐
现金及短期投资CMSRMD
| Q2 26 | — | $1.4B | ||
| Q4 25 | $509.0M | $1.4B | ||
| Q3 25 | $362.0M | $1.4B | ||
| Q2 25 | $844.0M | $1.2B | ||
| Q1 25 | $465.0M | $932.7M | ||
| Q4 24 | $103.0M | $521.9M | ||
| Q3 24 | $412.0M | $426.4M | ||
| Q2 24 | $699.0M | $238.4M |
总债务CMSRMD
| Q2 26 | — | $663.8M | ||
| Q4 25 | — | $403.9M | ||
| Q3 25 | — | $408.7M | ||
| Q2 25 | — | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | — | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $697.3M |
股东权益CMSRMD
| Q2 26 | — | $6.3B | ||
| Q4 25 | $9.1B | $6.3B | ||
| Q3 25 | $8.9B | $6.1B | ||
| Q2 25 | $8.4B | $6.0B | ||
| Q1 25 | $8.3B | $5.5B | ||
| Q4 24 | $8.2B | $5.3B | ||
| Q3 24 | $8.1B | $5.2B | ||
| Q2 24 | $8.0B | $4.9B |
总资产CMSRMD
| Q2 26 | — | $8.5B | ||
| Q4 25 | $39.9B | $8.5B | ||
| Q3 25 | $38.0B | $8.3B | ||
| Q2 25 | $37.7B | $8.2B | ||
| Q1 25 | $36.3B | $7.6B | ||
| Q4 24 | $35.9B | $7.1B | ||
| Q3 24 | $34.8B | $7.2B | ||
| Q2 24 | $34.4B | $6.9B |
负债/权益比CMSRMD
| Q2 26 | — | 0.11× | ||
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流CMSRMD
| Q2 26 | — | — | ||
| Q4 25 | $478.0M | $339.7M | ||
| Q3 25 | $343.0M | $457.3M | ||
| Q2 25 | $414.0M | $538.8M | ||
| Q1 25 | $1.0B | $578.7M | ||
| Q4 24 | $403.0M | $308.6M | ||
| Q3 24 | $304.0M | $325.5M | ||
| Q2 24 | $707.0M | $440.1M |
自由现金流CMSRMD
| Q2 26 | — | — | ||
| Q4 25 | — | $311.2M | ||
| Q3 25 | $-635.0M | $414.4M | ||
| Q2 25 | $-470.0M | $508.2M | ||
| Q1 25 | $112.0M | $557.9M | ||
| Q4 24 | — | $288.0M | ||
| Q3 24 | $-502.0M | $307.7M | ||
| Q2 24 | $26.0M | $415.2M |
自由现金流率CMSRMD
| Q2 26 | — | — | ||
| Q4 25 | — | 21.9% | ||
| Q3 25 | -32.2% | 31.0% | ||
| Q2 25 | -26.1% | 37.7% | ||
| Q1 25 | 4.7% | 43.2% | ||
| Q4 24 | — | 22.5% | ||
| Q3 24 | -29.3% | 25.1% | ||
| Q2 24 | 1.6% | 33.9% |
资本支出强度CMSRMD
| Q2 26 | — | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | 49.5% | 3.2% | ||
| Q2 25 | 49.2% | 2.3% | ||
| Q1 25 | 37.0% | 1.6% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | 47.1% | 1.5% | ||
| Q2 24 | 43.2% | 2.0% |
现金转化率CMSRMD
| Q2 26 | — | — | ||
| Q4 25 | 1.65× | 0.87× | ||
| Q3 25 | 1.24× | 1.31× | ||
| Q2 25 | 2.06× | 1.42× | ||
| Q1 25 | 3.29× | 1.59× | ||
| Q4 24 | 1.52× | 0.90× | ||
| Q3 24 | 1.20× | 1.05× | ||
| Q2 24 | 3.57× | 1.51× |
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% |
RMD
暂无分部数据
