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CMS Energy（CMS）与UGI CORP（UGI）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UGI CORP的1.0倍（$2.1B vs $2.1B），UGI CORP净利率更高（14.4% vs 13.5%，领先0.8%），CMS Energy同比增速更快（13.0% vs 3.9%），过去两年CMS Energy的营收复合增速更高（-0.2% vs -7.5%）
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。
UGI公司是总部位于美国宾夕法尼亚州普鲁士王市的能源企业，主营天然气与电力配送业务，布局覆盖范围广泛，在美国本土及欧洲地区均拥有成熟运营网络，为当地用户提供稳定可靠的能源配送服务。
CMS vs UGI — 直观对比
营收规模更大
CMS
是对方的1.0倍
$2.1B
营收增速更快
CMS
高出9.1%
3.9%
净利率更高
UGI
高出0.8%
13.5%
两年增速更快
CMS
近两年复合增速
-7.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.1B |
| 净利润 | $289.0M | $297.0M |
| 毛利率 | — | — |
| 营业利润率 | 20.4% | 22.0% |
| 净利率 | 13.5% | 14.4% |
| 营收同比 | 13.0% | 3.9% |
| 净利润同比 | 9.1% | -20.8% |
| 每股收益（稀释后） | $0.94 | $1.34 |
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CMSUGI
| Q4 25 | $2.1B | $2.1B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $1.8B | $1.4B | ||
| Q1 25 | $2.4B | $2.6B | ||
| Q4 24 | $1.9B | $2.0B | ||
| Q3 24 | $1.7B | $1.2B | ||
| Q2 24 | $1.6B | $1.4B | ||
| Q1 24 | $2.1B | $2.4B |
净利润CMSUGI
| Q4 25 | $289.0M | $297.0M | ||
| Q3 25 | $277.0M | $-13.0M | ||
| Q2 25 | $201.0M | $-163.0M | ||
| Q1 25 | $304.0M | $479.0M | ||
| Q4 24 | $265.0M | $375.0M | ||
| Q3 24 | $253.0M | $-273.0M | ||
| Q2 24 | $198.0M | $-48.0M | ||
| Q1 24 | $287.0M | $496.0M |
营业利润率CMSUGI
| Q4 25 | 20.4% | 22.0% | ||
| Q3 25 | 24.4% | 1.1% | ||
| Q2 25 | 17.6% | -6.8% | ||
| Q1 25 | 20.6% | 26.6% | ||
| Q4 24 | 22.5% | 24.5% | ||
| Q3 24 | 21.4% | -20.4% | ||
| Q2 24 | 18.0% | 5.0% | ||
| Q1 24 | 19.2% | 29.7% |
净利率CMSUGI
| Q4 25 | 13.5% | 14.4% | ||
| Q3 25 | 14.0% | -1.1% | ||
| Q2 25 | 11.2% | -12.0% | ||
| Q1 25 | 12.7% | 18.2% | ||
| Q4 24 | 14.0% | 18.9% | ||
| Q3 24 | 14.8% | -22.6% | ||
| Q2 24 | 12.6% | -3.6% | ||
| Q1 24 | 13.4% | 20.6% |
每股收益（稀释后）CMSUGI
| Q4 25 | $0.94 | $1.34 | ||
| Q3 25 | $0.92 | $-0.08 | ||
| Q2 25 | $0.66 | $-0.76 | ||
| Q1 25 | $1.01 | $2.19 | ||
| Q4 24 | $0.88 | $1.74 | ||
| Q3 24 | $0.84 | $-1.26 | ||
| Q2 24 | $0.65 | $-0.23 | ||
| Q1 24 | $0.96 | $2.30 |
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 | $251.0M |
| 总债务越低越好 | — | $6.0B |
| 股东权益账面价值 | $9.1B | $5.0B |
| 总资产 | $39.9B | $15.8B |
| 负债/权益比越低杠杆越低 | — | 1.19× |
8季度趋势，按日历期对齐
现金及短期投资CMSUGI
| Q4 25 | $509.0M | $251.0M | ||
| Q3 25 | $362.0M | $335.0M | ||
| Q2 25 | $844.0M | $350.0M | ||
| Q1 25 | $465.0M | $426.0M | ||
| Q4 24 | $103.0M | $240.0M | ||
| Q3 24 | $412.0M | $213.0M | ||
| Q2 24 | $699.0M | $183.0M | ||
| Q1 24 | $802.0M | $263.0M |
总债务CMSUGI
| Q4 25 | — | $6.0B | ||
| Q3 25 | — | $6.5B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $6.6B | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.3B | ||
| Q1 24 | — | $6.7B |
股东权益CMSUGI
| Q4 25 | $9.1B | $5.0B | ||
| Q3 25 | $8.9B | $4.8B | ||
| Q2 25 | $8.4B | $4.9B | ||
| Q1 25 | $8.3B | $5.0B | ||
| Q4 24 | $8.2B | $4.6B | ||
| Q3 24 | $8.1B | $4.3B | ||
| Q2 24 | $8.0B | $4.7B | ||
| Q1 24 | $7.9B | $4.8B |
总资产CMSUGI
| Q4 25 | $39.9B | $15.8B | ||
| Q3 25 | $38.0B | $15.5B | ||
| Q2 25 | $37.7B | $15.4B | ||
| Q1 25 | $36.3B | $15.7B | ||
| Q4 24 | $35.9B | $15.4B | ||
| Q3 24 | $34.8B | $15.1B | ||
| Q2 24 | $34.4B | $15.1B | ||
| Q1 24 | $33.9B | $15.6B |
负债/权益比CMSUGI
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.40× |
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 | $66.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-155.0M |
| 自由现金流率自由现金流/营收 | — | -7.5% |
| 资本支出强度资本支出/营收 | — | 10.7% |
| 现金转化率经营现金流/净利润 | 1.65× | 0.22× |
| 过去12个月自由现金流最近4个季度 | — | $282.0M |
8季度趋势，按日历期对齐
经营现金流CMSUGI
| Q4 25 | $478.0M | $66.0M | ||
| Q3 25 | $343.0M | $90.0M | ||
| Q2 25 | $414.0M | $289.0M | ||
| Q1 25 | $1.0B | $684.0M | ||
| Q4 24 | $403.0M | $164.0M | ||
| Q3 24 | $304.0M | $151.0M | ||
| Q2 24 | $707.0M | $390.0M | ||
| Q1 24 | $956.0M | $522.0M |
自由现金流CMSUGI
| Q4 25 | — | $-155.0M | ||
| Q3 25 | $-635.0M | $-168.0M | ||
| Q2 25 | $-470.0M | $67.0M | ||
| Q1 25 | $112.0M | $538.0M | ||
| Q4 24 | — | $-47.0M | ||
| Q3 24 | $-502.0M | $-115.0M | ||
| Q2 24 | $26.0M | $185.0M | ||
| Q1 24 | $343.0M | $353.0M |
自由现金流率CMSUGI
| Q4 25 | — | -7.5% | ||
| Q3 25 | -32.2% | -14.4% | ||
| Q2 25 | -26.1% | 4.9% | ||
| Q1 25 | 4.7% | 20.4% | ||
| Q4 24 | — | -2.4% | ||
| Q3 24 | -29.3% | -9.5% | ||
| Q2 24 | 1.6% | 13.7% | ||
| Q1 24 | 16.0% | 14.6% |
资本支出强度CMSUGI
| Q4 25 | — | 10.7% | ||
| Q3 25 | 49.5% | 22.1% | ||
| Q2 25 | 49.2% | 16.3% | ||
| Q1 25 | 37.0% | 5.5% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | 47.1% | 22.0% | ||
| Q2 24 | 43.2% | 15.2% | ||
| Q1 24 | 28.6% | 7.0% |
现金转化率CMSUGI
| Q4 25 | 1.65× | 0.22× | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | 3.29× | 1.43× | ||
| Q4 24 | 1.52× | 0.44× | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 3.57× | — | ||
| Q1 24 | 3.33× | 1.05× |
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% |
UGI
暂无分部数据
