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加拿大国家铁路（CP）与FirstEnergy（FE）财务数据对比。点击上方公司名可切换其他公司
FirstEnergy的季度营收约是加拿大国家铁路的1.3倍（$3.8B vs $2.8B），加拿大国家铁路净利率更高（27.7% vs -1.3%，领先28.9%），FirstEnergy同比增速更快（19.6% vs 1.3%），加拿大国家铁路自由现金流更多（$537.3M vs $-30.0M），过去两年FirstEnergy的营收复合增速更高（7.5% vs 5.6%）
加拿大国家铁路是加拿大一级货运铁路企业，总部位于魁北克省蒙特利尔市，业务覆盖加拿大全境及美国中西部、南部区域，是加拿大两大主力货运铁路运营商之一，与加拿大太平洋堪萨斯城铁路公司齐名。
FirstEnergy Corp是总部位于美国俄亥俄州阿克伦市的电力公用事业企业，主营电力供应、电网运营相关业务，于1997年由俄亥俄爱迪生公司与森特里奥尔能源公司合并组建，是美国中西部地区颇具影响力的公共事业服务商。
CP vs FE — 直观对比
营收规模更大
FE
是对方的1.3倍
$2.8B
营收增速更快
FE
高出18.3%
1.3%
净利率更高
CP
高出28.9%
-1.3%
自由现金流更多
CP
多$567.3M
$-30.0M
两年增速更快
FE
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $3.8B |
| 净利润 | $786.2M | $-49.0M |
| 毛利率 | — | — |
| 营业利润率 | 41.4% | -0.6% |
| 净利率 | 27.7% | -1.3% |
| 营收同比 | 1.3% | 19.6% |
| 净利润同比 | -10.3% | -118.8% |
| 每股收益（稀释后） | — | $-0.08 |
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CPFE
| Q4 25 | $2.8B | $3.8B | ||
| Q3 25 | $2.7B | $4.1B | ||
| Q2 25 | $2.7B | $3.4B | ||
| Q1 25 | $2.8B | $3.8B | ||
| Q4 24 | $2.8B | $3.2B | ||
| Q3 24 | $2.6B | $3.7B | ||
| Q2 24 | $2.6B | $3.3B | ||
| Q1 24 | $2.5B | $3.3B |
净利润CPFE
| Q4 25 | $786.2M | $-49.0M | ||
| Q3 25 | $671.6M | $441.0M | ||
| Q2 25 | $900.8M | $268.0M | ||
| Q1 25 | $664.3M | $360.0M | ||
| Q4 24 | $876.7M | $261.0M | ||
| Q3 24 | $611.0M | $419.0M | ||
| Q2 24 | $660.6M | $45.0M | ||
| Q1 24 | $565.8M | $253.0M |
营业利润率CPFE
| Q4 25 | 41.4% | -0.6% | ||
| Q3 25 | 36.8% | 20.0% | ||
| Q2 25 | 36.6% | 19.1% | ||
| Q1 25 | 35.0% | 20.0% | ||
| Q4 24 | 40.6% | 19.3% | ||
| Q3 24 | 34.3% | 19.5% | ||
| Q2 24 | 35.4% | 12.9% | ||
| Q1 24 | 32.9% | 18.6% |
净利率CPFE
| Q4 25 | 27.7% | -1.3% | ||
| Q3 25 | 25.3% | 10.6% | ||
| Q2 25 | 33.6% | 7.9% | ||
| Q1 25 | 24.2% | 9.6% | ||
| Q4 24 | 31.2% | 8.2% | ||
| Q3 24 | 23.9% | 11.2% | ||
| Q2 24 | 25.3% | 1.4% | ||
| Q1 24 | 22.2% | 7.7% |
每股收益（稀释后）CPFE
| Q4 25 | — | $-0.08 | ||
| Q3 25 | — | $0.76 | ||
| Q2 25 | — | $0.46 | ||
| Q1 25 | — | $0.62 | ||
| Q4 24 | — | $0.45 | ||
| Q3 24 | — | $0.73 | ||
| Q2 24 | — | $0.08 | ||
| Q1 24 | — | $0.44 |
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 | $134.3M | $57.0M |
| 总债务越低越好 | $14.6B | $25.5B |
| 股东权益账面价值 | $33.5B | $12.5B |
| 总资产 | $62.7B | $55.9B |
| 负债/权益比越低杠杆越低 | 0.43× | 2.04× |
8季度趋势，按日历期对齐
现金及短期投资CPFE
| Q4 25 | $134.3M | $57.0M | ||
| Q3 25 | $300.0M | $1.4B | ||
| Q2 25 | $583.3M | $569.0M | ||
| Q1 25 | $507.4M | $132.0M | ||
| Q4 24 | $539.5M | $111.0M | ||
| Q3 24 | $338.0M | $439.0M | ||
| Q2 24 | $406.6M | $60.0M | ||
| Q1 24 | $378.9M | $888.0M |
总债务CPFE
| Q4 25 | $14.6B | $25.5B | ||
| Q3 25 | $15.8B | $25.5B | ||
| Q2 25 | $15.5B | $23.7B | ||
| Q1 25 | $15.4B | $21.2B | ||
| Q4 24 | $14.5B | $22.5B | ||
| Q3 24 | $13.7B | $21.6B | ||
| Q2 24 | $13.8B | $20.8B | ||
| Q1 24 | $13.7B | $21.7B |
股东权益CPFE
| Q4 25 | $33.5B | $12.5B | ||
| Q3 25 | $33.4B | $12.8B | ||
| Q2 25 | $33.7B | $12.9B | ||
| Q1 25 | $35.2B | $12.6B | ||
| Q4 24 | $35.0B | $12.5B | ||
| Q3 24 | $32.2B | $12.4B | ||
| Q2 24 | $32.0B | $12.5B | ||
| Q1 24 | $31.3B | $12.4B |
总资产CPFE
| Q4 25 | $62.7B | $55.9B | ||
| Q3 25 | $63.3B | $55.9B | ||
| Q2 25 | $62.2B | $54.2B | ||
| Q1 25 | $64.3B | $52.8B | ||
| Q4 24 | $64.1B | $52.0B | ||
| Q3 24 | $60.0B | $50.8B | ||
| Q2 24 | $60.4B | $51.0B | ||
| Q1 24 | $59.6B | $51.3B |
负债/权益比CPFE
| Q4 25 | 0.43× | 2.04× | ||
| Q3 25 | 0.47× | 1.99× | ||
| Q2 25 | 0.46× | 1.85× | ||
| Q1 25 | 0.44× | 1.69× | ||
| Q4 24 | 0.41× | 1.81× | ||
| Q3 24 | 0.42× | 1.74× | ||
| Q2 24 | 0.43× | 1.67× | ||
| Q1 24 | 0.44× | 1.75× |
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 | $1.1B | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $537.3M | $-30.0M |
| 自由现金流率自由现金流/营收 | 18.9% | -0.8% |
| 资本支出强度资本支出/营收 | 20.2% | 30.7% |
| 现金转化率经营现金流/净利润 | 1.42× | — |
| 过去12个月自由现金流最近4个季度 | $1.6B | $-1.0B |
8季度趋势，按日历期对齐
经营现金流CPFE
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $930.0M | $845.0M | ||
| Q2 25 | $989.1M | $1.1B | ||
| Q1 25 | $843.9M | $637.0M | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $928.6M | $775.0M | ||
| Q2 24 | $932.9M | $1.1B | ||
| Q1 24 | $741.0M | $-40.0M |
自由现金流CPFE
| Q4 25 | $537.3M | $-30.0M | ||
| Q3 25 | $302.2M | $-471.0M | ||
| Q2 25 | $446.8M | $-136.0M | ||
| Q1 25 | $324.9M | $-368.0M | ||
| Q4 24 | $702.3M | $-250.0M | ||
| Q3 24 | $382.5M | $-229.0M | ||
| Q2 24 | $343.1M | $170.0M | ||
| Q1 24 | $356.2M | $-830.0M |
自由现金流率CPFE
| Q4 25 | 18.9% | -0.8% | ||
| Q3 25 | 11.4% | -11.4% | ||
| Q2 25 | 16.7% | -4.0% | ||
| Q1 25 | 11.8% | -9.8% | ||
| Q4 24 | 25.0% | -7.9% | ||
| Q3 24 | 15.0% | -6.1% | ||
| Q2 24 | 13.1% | 5.2% | ||
| Q1 24 | 14.0% | -25.3% |
资本支出强度CPFE
| Q4 25 | 20.2% | 30.7% | ||
| Q3 25 | 23.7% | 31.7% | ||
| Q2 25 | 20.2% | 36.0% | ||
| Q1 25 | 18.9% | 26.7% | ||
| Q4 24 | 19.3% | 40.7% | ||
| Q3 24 | 21.4% | 26.9% | ||
| Q2 24 | 22.6% | 28.7% | ||
| Q1 24 | 15.1% | 24.0% |
现金转化率CPFE
| Q4 25 | 1.42× | — | ||
| Q3 25 | 1.38× | 1.92× | ||
| Q2 25 | 1.10× | 4.04× | ||
| Q1 25 | 1.27× | 1.77× | ||
| Q4 24 | 1.42× | 4.00× | ||
| Q3 24 | 1.52× | 1.85× | ||
| Q2 24 | 1.41× | 24.71× | ||
| Q1 24 | 1.31× | -0.16× |
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
CP
暂无分部数据
FE
| Integrated Segment | $1.4B | 37% |
| Other | $1.4B | 36% |
| Stand Alone Transmission Segment | $466.0M | 12% |
| Industrial Customers | $167.0M | 4% |
| Mid Atlantic Interstate Transmission LLC | $118.0M | 3% |
| Transmission | $105.0M | 3% |
| Transmission Segment | $68.0M | 2% |
| Tr AIL | $63.0M | 2% |
| Internal Customers | $10.0M | 0% |
| Wholesale Sales | $6.0M | 0% |
