vs
CenterPoint Energy（CNP）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是CenterPoint Energy的1.9倍（$4.7B vs $2.4B），CenterPoint Energy净利率更高（10.8% vs -50.3%，领先61.1%），CenterPoint Energy同比增速更快（10.7% vs 3.6%），国际纸业自由现金流更多（$255.0M vs $-707.0M），过去两年国际纸业的营收复合增速更高（1.3% vs -3.1%）
CenterPoint Energy是总部位于美国得克萨斯州休斯敦的公用事业企业，位列《财富》美国500强，为印第安纳、俄亥俄、路易斯安那、明尼苏达、密西西比、得克萨斯六州多个区域的用户提供电力及天然气公用事业服务，曾使用Reliant Energy、Houston Industries等名称开展业务。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
CNP vs IP — 直观对比
营收规模更大
IP
是对方的1.9倍
$2.4B
营收增速更快
CNP
高出7.1%
3.6%
净利率更高
CNP
高出61.1%
-50.3%
自由现金流更多
IP
多$962.0M
$-707.0M
两年增速更快
IP
近两年复合增速
-3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $4.7B |
| 净利润 | $264.0M | $-2.4B |
| 毛利率 | — | 32.2% |
| 营业利润率 | 22.2% | -56.4% |
| 净利率 | 10.8% | -50.3% |
| 营收同比 | 10.7% | 3.6% |
| 净利润同比 | 6.5% | -1521.8% |
| 每股收益（稀释后） | $0.40 | $-4.76 |
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CNPIP
| Q4 25 | $2.4B | $4.7B | ||
| Q3 25 | $2.0B | $6.2B | ||
| Q2 25 | $2.0B | $6.8B | ||
| Q1 25 | $3.0B | $5.9B | ||
| Q4 24 | $2.2B | $4.6B | ||
| Q3 24 | $1.8B | $4.7B | ||
| Q2 24 | $1.9B | $4.7B | ||
| Q1 24 | $2.6B | $4.6B |
净利润CNPIP
| Q4 25 | $264.0M | $-2.4B | ||
| Q3 25 | $293.0M | $-1.1B | ||
| Q2 25 | $198.0M | $75.0M | ||
| Q1 25 | $297.0M | $-105.0M | ||
| Q4 24 | $248.0M | $-147.0M | ||
| Q3 24 | $193.0M | $150.0M | ||
| Q2 24 | $228.0M | $498.0M | ||
| Q1 24 | $350.0M | $56.0M |
毛利率CNPIP
| Q4 25 | — | 32.2% | ||
| Q3 25 | 99.9% | 31.1% | ||
| Q2 25 | 99.9% | 27.9% | ||
| Q1 25 | 100.0% | 27.8% | ||
| Q4 24 | 100.0% | 29.0% | ||
| Q3 24 | 99.9% | 28.7% | ||
| Q2 24 | — | 29.0% | ||
| Q1 24 | 100.0% | 25.9% |
营业利润率CNPIP
| Q4 25 | 22.2% | -56.4% | ||
| Q3 25 | 25.2% | -10.8% | ||
| Q2 25 | 21.4% | 1.7% | ||
| Q1 25 | 22.0% | -2.3% | ||
| Q4 24 | 21.9% | -4.9% | ||
| Q3 24 | 22.9% | 5.1% | ||
| Q2 24 | 24.5% | 6.8% | ||
| Q1 24 | 23.7% | 3.7% |
净利率CNPIP
| Q4 25 | 10.8% | -50.3% | ||
| Q3 25 | 14.7% | -17.7% | ||
| Q2 25 | 10.1% | 1.1% | ||
| Q1 25 | 10.0% | -1.8% | ||
| Q4 24 | 11.3% | -3.2% | ||
| Q3 24 | 10.4% | 3.2% | ||
| Q2 24 | 12.0% | 10.5% | ||
| Q1 24 | 13.5% | 1.2% |
每股收益（稀释后）CNPIP
| Q4 25 | $0.40 | $-4.76 | ||
| Q3 25 | $0.45 | $-2.09 | ||
| Q2 25 | $0.30 | $0.14 | ||
| Q1 25 | $0.45 | $-0.24 | ||
| Q4 24 | $0.37 | $-0.42 | ||
| Q3 24 | $0.30 | $0.42 | ||
| Q2 24 | $0.36 | $1.41 | ||
| Q1 24 | $0.55 | $0.16 |
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 | $548.0M | $1.1B |
| 总债务越低越好 | $20.6B | $8.8B |
| 股东权益账面价值 | $11.2B | $14.8B |
| 总资产 | $46.5B | $38.0B |
| 负债/权益比越低杠杆越低 | 1.84× | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资CNPIP
| Q4 25 | $548.0M | $1.1B | ||
| Q3 25 | $616.0M | $995.0M | ||
| Q2 25 | $776.0M | $1.1B | ||
| Q1 25 | $1.9B | $1.2B | ||
| Q4 24 | $585.0M | $1.2B | ||
| Q3 24 | $643.0M | $1.2B | ||
| Q2 24 | $543.0M | $1.0B | ||
| Q1 24 | $619.0M | $1.1B |
总债务CNPIP
| Q4 25 | $20.6B | $8.8B | ||
| Q3 25 | — | $9.0B | ||
| Q2 25 | — | $9.7B | ||
| Q1 25 | — | $9.2B | ||
| Q4 24 | $20.4B | $5.4B | ||
| Q3 24 | — | $5.3B | ||
| Q2 24 | — | $5.3B | ||
| Q1 24 | — | $5.5B |
股东权益CNPIP
| Q4 25 | $11.2B | $14.8B | ||
| Q3 25 | $11.0B | $17.3B | ||
| Q2 25 | $11.0B | $18.6B | ||
| Q1 25 | $11.0B | $18.1B | ||
| Q4 24 | $10.7B | $8.2B | ||
| Q3 24 | $10.5B | $8.6B | ||
| Q2 24 | $10.4B | $8.6B | ||
| Q1 24 | $10.0B | $8.3B |
总资产CNPIP
| Q4 25 | $46.5B | $38.0B | ||
| Q3 25 | $45.0B | $40.6B | ||
| Q2 25 | $44.1B | $42.4B | ||
| Q1 25 | $44.5B | $41.2B | ||
| Q4 24 | $43.8B | $22.8B | ||
| Q3 24 | $42.9B | $23.2B | ||
| Q2 24 | $41.0B | $23.1B | ||
| Q1 24 | $40.2B | $23.0B |
负债/权益比CNPIP
| Q4 25 | 1.84× | 0.60× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | 1.91× | 0.66× | ||
| Q3 24 | — | 0.62× | ||
| Q2 24 | — | 0.62× | ||
| Q1 24 | — | 0.66× |
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 | $774.0M | $905.0M |
| 自由现金流经营现金流 - 资本支出 | $-707.0M | $255.0M |
| 自由现金流率自由现金流/营收 | -29.0% | 5.4% |
| 资本支出强度资本支出/营收 | 60.7% | 13.7% |
| 现金转化率经营现金流/净利润 | 2.93× | — |
| 过去12个月自由现金流最近4个季度 | $-2.4B | $-159.0M |
8季度趋势，按日历期对齐
经营现金流CNPIP
| Q4 25 | $774.0M | $905.0M | ||
| Q3 25 | $742.0M | $605.0M | ||
| Q2 25 | $560.0M | $476.0M | ||
| Q1 25 | $410.0M | $-288.0M | ||
| Q4 24 | $889.0M | $397.0M | ||
| Q3 24 | $136.0M | $521.0M | ||
| Q2 24 | $576.0M | $365.0M | ||
| Q1 24 | $538.0M | $395.0M |
自由现金流CNPIP
| Q4 25 | $-707.0M | $255.0M | ||
| Q3 25 | $-480.0M | $150.0M | ||
| Q2 25 | $-569.0M | $54.0M | ||
| Q1 25 | $-628.0M | $-618.0M | ||
| Q4 24 | $-1.1B | $137.0M | ||
| Q3 24 | $-708.0M | $309.0M | ||
| Q2 24 | $-236.0M | $167.0M | ||
| Q1 24 | $-307.0M | $144.0M |
自由现金流率CNPIP
| Q4 25 | -29.0% | 5.4% | ||
| Q3 25 | -24.1% | 2.4% | ||
| Q2 25 | -29.1% | 0.8% | ||
| Q1 25 | -21.2% | -10.5% | ||
| Q4 24 | -51.0% | 3.0% | ||
| Q3 24 | -38.3% | 6.6% | ||
| Q2 24 | -12.4% | 3.5% | ||
| Q1 24 | -11.8% | 3.1% |
资本支出强度CNPIP
| Q4 25 | 60.7% | 13.7% | ||
| Q3 25 | 61.4% | 7.3% | ||
| Q2 25 | 57.8% | 6.2% | ||
| Q1 25 | 35.1% | 5.6% | ||
| Q4 24 | 91.3% | 5.7% | ||
| Q3 24 | 45.6% | 4.5% | ||
| Q2 24 | 42.6% | 4.2% | ||
| Q1 24 | 32.6% | 5.4% |
现金转化率CNPIP
| Q4 25 | 2.93× | — | ||
| Q3 25 | 2.53× | — | ||
| Q2 25 | 2.83× | 6.35× | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 3.58× | — | ||
| Q3 24 | 0.70× | 3.47× | ||
| Q2 24 | 2.53× | 0.73× | ||
| Q1 24 | 1.54× | 7.05× |
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
CNP
| Electric Segment | $945.0M | 39% |
| Electric | $890.0M | 37% |
| Other | $603.0M | 25% |
IP
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
