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阿特斯（CSIQ）与Enphase Energy（ENPH）财务数据对比。点击上方公司名可切换其他公司
阿特斯的季度营收约是Enphase Energy的15.8倍（$4.5B vs $282.9M），阿特斯净利率更高（1.3% vs -2.6%，领先3.9%）
阿特斯是全球领先的可再生能源企业，总部位于加拿大安大略省基奇纳。核心业务涵盖光伏组件制造、电池储能解决方案供应，以及大型公用事业级太阳能电站与储能项目的开发，业务布局覆盖全球主要能源市场。
Enphase Energy是总部位于美国加利福尼亚州弗里蒙特的能源科技企业，成立于2006年，是全球首家成功实现光伏微型逆变器商业化的企业，主要面向住宅用户研发生产光伏微型逆变器、储能电池及电动汽车充电桩。
CSIQ vs ENPH — 直观对比
营收规模更大
CSIQ
是对方的15.8倍
$282.9M
净利率更高
CSIQ
高出3.9%
-2.6%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.5B | $282.9M |
| 净利润 | $57.6M | $-7.4M |
| 毛利率 | 17.5% | 35.5% |
| 营业利润率 | 2.2% | — |
| 净利率 | 1.3% | -2.6% |
| 营收同比 | — | -20.6% |
| 净利润同比 | — | -124.9% |
| 每股收益（稀释后） | — | $-0.06 |
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CSIQENPH
| Q1 26 | — | $282.9M | ||
| Q4 25 | — | $343.3M | ||
| Q3 25 | $4.5B | $410.4M | ||
| Q2 25 | $3.0B | $363.2M | ||
| Q1 25 | $1.3B | $356.1M | ||
| Q4 24 | — | $382.7M | ||
| Q3 24 | $5.9B | $380.9M | ||
| Q2 24 | $4.1B | $303.5M |
净利润CSIQENPH
| Q1 26 | — | $-7.4M | ||
| Q4 25 | — | $38.7M | ||
| Q3 25 | $57.6M | $66.6M | ||
| Q2 25 | $63.6M | $37.1M | ||
| Q1 25 | $36.2M | $29.7M | ||
| Q4 24 | — | $62.2M | ||
| Q3 24 | $366.8M | $45.8M | ||
| Q2 24 | $304.4M | $10.8M |
毛利率CSIQENPH
| Q1 26 | — | 35.5% | ||
| Q4 25 | — | 44.3% | ||
| Q3 25 | 17.5% | 47.8% | ||
| Q2 25 | 18.0% | 46.9% | ||
| Q1 25 | 19.0% | 47.2% | ||
| Q4 24 | — | 51.8% | ||
| Q3 24 | 18.0% | 46.8% | ||
| Q2 24 | 18.7% | 45.2% |
营业利润率CSIQENPH
| Q1 26 | — | — | ||
| Q4 25 | — | 6.5% | ||
| Q3 25 | 2.2% | 16.1% | ||
| Q2 25 | 3.3% | 10.2% | ||
| Q1 25 | 3.7% | 9.0% | ||
| Q4 24 | — | 14.3% | ||
| Q3 24 | 7.7% | 13.1% | ||
| Q2 24 | 9.1% | 0.6% |
净利率CSIQENPH
| Q1 26 | — | -2.6% | ||
| Q4 25 | — | 11.3% | ||
| Q3 25 | 1.3% | 16.2% | ||
| Q2 25 | 2.1% | 10.2% | ||
| Q1 25 | 2.7% | 8.3% | ||
| Q4 24 | — | 16.2% | ||
| Q3 24 | 6.2% | 12.0% | ||
| Q2 24 | 7.5% | 3.6% |
每股收益（稀释后）CSIQENPH
| Q1 26 | — | $-0.06 | ||
| Q4 25 | — | $0.29 | ||
| Q3 25 | — | $0.50 | ||
| Q2 25 | — | $0.28 | ||
| Q1 25 | — | $0.22 | ||
| Q4 24 | — | $0.46 | ||
| Q3 24 | — | $0.33 | ||
| Q2 24 | — | $0.08 |
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 | $1.7B | $497.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.9B | $1.1B |
| 总资产 | $13.5B | $2.7B |
| 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CSIQENPH
| Q1 26 | — | $497.5M | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.7B | $1.5B | ||
| Q1 25 | $1.7B | $1.5B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $1.9B | $1.8B | ||
| Q2 24 | $1.9B | $1.6B |
总债务CSIQENPH
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B |
股东权益CSIQENPH
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $3.9B | $995.0M | ||
| Q2 25 | $3.9B | $880.6M | ||
| Q1 25 | $3.9B | $810.7M | ||
| Q4 24 | — | $833.0M | ||
| Q3 24 | $3.7B | $931.4M | ||
| Q2 24 | $3.7B | $884.5M |
总资产CSIQENPH
| Q1 26 | — | $2.7B | ||
| Q4 25 | — | $3.5B | ||
| Q3 25 | $13.5B | $3.3B | ||
| Q2 25 | $13.5B | $3.2B | ||
| Q1 25 | $13.5B | $3.1B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | $11.9B | $3.3B | ||
| Q2 24 | $11.9B | $3.2B |
负债/权益比CSIQENPH
| Q1 26 | — | — | ||
| Q4 25 | — | 1.11× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.37× | ||
| Q1 25 | — | 1.48× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | — | 1.47× |
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 | $-187.7M | $102.9M |
| 自由现金流经营现金流 - 资本支出 | — | $83.0M |
| 自由现金流率自由现金流/营收 | — | 29.3% |
| 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 | -3.26× | — |
| 过去12个月自由现金流最近4个季度 | — | $145.1M |
8季度趋势，按日历期对齐
经营现金流CSIQENPH
| Q1 26 | — | $102.9M | ||
| Q4 25 | — | $47.6M | ||
| Q3 25 | $-187.7M | $13.9M | ||
| Q2 25 | — | $26.6M | ||
| Q1 25 | — | $48.4M | ||
| Q4 24 | — | $167.3M | ||
| Q3 24 | — | $170.1M | ||
| Q2 24 | — | $127.1M |
自由现金流CSIQENPH
| Q1 26 | — | $83.0M | ||
| Q4 25 | — | $37.8M | ||
| Q3 25 | — | $5.9M | ||
| Q2 25 | — | $18.4M | ||
| Q1 25 | — | $33.8M | ||
| Q4 24 | — | $159.2M | ||
| Q3 24 | — | $161.6M | ||
| Q2 24 | — | $117.4M |
自由现金流率CSIQENPH
| Q1 26 | — | 29.3% | ||
| Q4 25 | — | 11.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | — | 9.5% | ||
| Q4 24 | — | 41.6% | ||
| Q3 24 | — | 42.4% | ||
| Q2 24 | — | 38.7% |
资本支出强度CSIQENPH
| Q1 26 | — | — | ||
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | 2.0% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | 4.1% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 3.2% |
现金转化率CSIQENPH
| Q1 26 | — | — | ||
| Q4 25 | — | 1.23× | ||
| Q3 25 | -3.26× | 0.21× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 2.69× | ||
| Q3 24 | — | 3.72× | ||
| Q2 24 | — | 11.73× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
