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Custom Truck One Source, Inc.（CTOS）与PLUG POWER INC（PLUG）财务数据对比。点击上方公司名可切换其他公司
Custom Truck One Source, Inc.的季度营收约是PLUG POWER INC的1.9倍（$422.2M vs $225.2M），Custom Truck One Source, Inc.净利率更高（-4.2% vs -375.6%，领先371.4%），PLUG POWER INC同比增速更快（17.6% vs -8.5%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 14.8%）
Custom Truck One Source是北美领先的专用重型卡车及设备解决方案提供商，业务覆盖定制车辆制造、设备销售与租赁、售后配件供应及维保服务，主要服务基建、公用事业、建筑、能源等核心领域。
普拉格能源是一家美国企业，专注于氢燃料电池和电解槽系统的研发，其产品可替代电动设备及车辆所使用的传统电池。公司总部位于纽约州斯林格兰兹，在华盛顿州斯波坎、纽约州罗切斯特均设有生产运营基地。
CTOS vs PLUG — 直观对比
营收规模更大
CTOS
是对方的1.9倍
$225.2M
营收增速更快
PLUG
高出26.2%
-8.5%
净利率更高
CTOS
高出371.4%
-375.6%
两年增速更快
PLUG
近两年复合增速
14.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $422.2M | $225.2M |
| 净利润 | $-17.8M | $-846.0M |
| 毛利率 | 20.3% | 2.4% |
| 营业利润率 | 2.9% | -338.9% |
| 净利率 | -4.2% | -375.6% |
| 营收同比 | -8.5% | 17.6% |
| 净利润同比 | -333.7% | 36.7% |
| 每股收益（稀释后） | $-0.08 | $-0.70 |
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CTOSPLUG
| Q1 26 | $422.2M | — | ||
| Q4 25 | $387.3M | $225.2M | ||
| Q3 25 | $359.9M | $177.1M | ||
| Q2 25 | $392.2M | $174.0M | ||
| Q1 25 | $307.1M | $133.7M | ||
| Q4 24 | $398.3M | $191.5M | ||
| Q3 24 | $337.5M | $173.7M | ||
| Q2 24 | $320.6M | $143.3M |
净利润CTOSPLUG
| Q1 26 | $-17.8M | — | ||
| Q4 25 | $20.9M | $-846.0M | ||
| Q3 25 | $-5.8M | $-361.9M | ||
| Q2 25 | $-28.4M | $-227.1M | ||
| Q1 25 | $-17.8M | $-196.7M | ||
| Q4 24 | $27.6M | $-1.3B | ||
| Q3 24 | $-17.4M | $-211.2M | ||
| Q2 24 | $-24.5M | $-262.3M |
毛利率CTOSPLUG
| Q1 26 | 20.3% | — | ||
| Q4 25 | 31.8% | 2.4% | ||
| Q3 25 | 28.0% | -67.9% | ||
| Q2 25 | 26.1% | -30.7% | ||
| Q1 25 | 27.9% | -55.3% | ||
| Q4 24 | 29.7% | -122.5% | ||
| Q3 24 | 27.2% | -57.6% | ||
| Q2 24 | 27.8% | -91.6% |
营业利润率CTOSPLUG
| Q1 26 | 2.9% | — | ||
| Q4 25 | 13.4% | -338.9% | ||
| Q3 25 | 9.1% | -197.0% | ||
| Q2 25 | 7.1% | -101.7% | ||
| Q1 25 | 4.0% | -133.5% | ||
| Q4 24 | 16.9% | -678.7% | ||
| Q3 24 | 6.8% | -124.4% | ||
| Q2 24 | 5.5% | -170.7% |
净利率CTOSPLUG
| Q1 26 | -4.2% | — | ||
| Q4 25 | 5.4% | -375.6% | ||
| Q3 25 | -1.6% | -204.4% | ||
| Q2 25 | -7.2% | -130.5% | ||
| Q1 25 | -5.8% | -147.1% | ||
| Q4 24 | 6.9% | -697.5% | ||
| Q3 24 | -5.2% | -121.5% | ||
| Q2 24 | -7.6% | -183.0% |
每股收益（稀释后）CTOSPLUG
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $0.10 | $-0.70 | ||
| Q3 25 | $-0.03 | $-0.31 | ||
| Q2 25 | $-0.13 | $-0.20 | ||
| Q1 25 | $-0.08 | $-0.21 | ||
| Q4 24 | $0.11 | $-1.61 | ||
| Q3 24 | $-0.07 | $-0.25 | ||
| Q2 24 | $-0.10 | $-0.36 |
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 | $6.3M | $368.5M |
| 总债务越低越好 | $25.9M | — |
| 股东权益账面价值 | $809.1M | $978.1M |
| 总资产 | $3.4B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.03× | — |
8季度趋势，按日历期对齐
现金及短期投资CTOSPLUG
| Q1 26 | $6.3M | — | ||
| Q4 25 | $6.3M | $368.5M | ||
| Q3 25 | $13.1M | $165.9M | ||
| Q2 25 | $5.3M | $140.7M | ||
| Q1 25 | $5.4M | $295.8M | ||
| Q4 24 | $3.8M | $205.7M | ||
| Q3 24 | $8.4M | $93.9M | ||
| Q2 24 | $8.1M | $62.4M |
总债务CTOSPLUG
| Q1 26 | $25.9M | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.6B | $3.9M | ||
| Q2 24 | $1.5B | $3.7M |
股东权益CTOSPLUG
| Q1 26 | $809.1M | — | ||
| Q4 25 | $809.1M | $978.1M | ||
| Q3 25 | $784.7M | $1.4B | ||
| Q2 25 | $790.1M | $1.7B | ||
| Q1 25 | $813.4M | $1.9B | ||
| Q4 24 | $861.3M | $1.7B | ||
| Q3 24 | $837.5M | $3.0B | ||
| Q2 24 | $856.7M | $3.0B |
总资产CTOSPLUG
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $2.6B | ||
| Q3 25 | $3.5B | $3.1B | ||
| Q2 25 | $3.6B | $3.4B | ||
| Q1 25 | $3.5B | $3.6B | ||
| Q4 24 | $3.5B | $3.6B | ||
| Q3 24 | $3.6B | $4.7B | ||
| Q2 24 | $3.5B | $4.8B |
负债/权益比CTOSPLUG
| Q1 26 | 0.03× | — | ||
| Q4 25 | 2.03× | — | ||
| Q3 25 | 2.10× | — | ||
| Q2 25 | 2.04× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 1.87× | 0.00× | ||
| Q2 24 | 1.79× | 0.00× |
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 | — | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | — | $-153.0M |
| 自由现金流率自由现金流/营收 | — | -67.9% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-647.0M |
8季度趋势，按日历期对齐
经营现金流CTOSPLUG
| Q1 26 | — | — | ||
| Q4 25 | $47.3M | $-148.6M | ||
| Q3 25 | $81.5M | $-89.8M | ||
| Q2 25 | $125.7M | $-191.8M | ||
| Q1 25 | $55.6M | $-105.6M | ||
| Q4 24 | $82.1M | $-131.2M | ||
| Q3 24 | $16.5M | $-174.9M | ||
| Q2 24 | $37.8M | $-254.7M |
自由现金流CTOSPLUG
| Q1 26 | — | — | ||
| Q4 25 | — | $-153.0M | ||
| Q3 25 | — | $-117.5M | ||
| Q2 25 | — | $-230.4M | ||
| Q1 25 | — | $-146.0M | ||
| Q4 24 | — | $-165.2M | ||
| Q3 24 | — | $-234.2M | ||
| Q2 24 | — | $-356.0M |
自由现金流率CTOSPLUG
| Q1 26 | — | — | ||
| Q4 25 | — | -67.9% | ||
| Q3 25 | — | -66.4% | ||
| Q2 25 | — | -132.5% | ||
| Q1 25 | — | -109.2% | ||
| Q4 24 | — | -86.3% | ||
| Q3 24 | — | -134.8% | ||
| Q2 24 | — | -248.4% |
资本支出强度CTOSPLUG
| Q1 26 | — | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.6% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 17.7% | ||
| Q3 24 | — | 34.1% | ||
| Q2 24 | — | 70.7% |
现金转化率CTOSPLUG
| Q1 26 | — | — | ||
| Q4 25 | 2.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.98× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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
CTOS
| Equipment sales | $273.9M | 65% |
| Rental revenue | $116.3M | 28% |
| Parts sales and services | $32.1M | 8% |
PLUG
| Sales Of Equipment And Related Infrastructure | $111.6M | 50% |
| Services Performed On Fuel Cell Systems And Related Infrastructure | $41.5M | 18% |
| Power Purchase Agreements | $36.1M | 16% |
| Sale Of Cryogenic Equipment | $20.0M | 9% |
| Sales Of Fuel Cell Systems | $11.2M | 5% |
| Other | $4.8M | 2% |
