vs
Clearway Energy, Inc.（CWEN）与TXNM ENERGY INC（TXNM）财务数据对比。点击上方公司名可切换其他公司
TXNM ENERGY INC的季度营收约是Clearway Energy, Inc.的1.6倍（$506.4M vs $310.0M），TXNM ENERGY INC净利率更高（-1.0% vs -33.5%，领先32.5%），Clearway Energy, Inc.同比增速更快（21.1% vs 5.3%），Clearway Energy, Inc.自由现金流更多（$71.0M vs $-152.1M），过去两年Clearway Energy, Inc.的营收复合增速更高（8.6% vs 8.4%）
NRG能源是总部位于美国得克萨斯州休斯敦的能源企业，前身为后续更名为埃克西尔能源的北方州电力公司的批发业务板块，2000年独立运营。业务覆盖发电与电力零售，拥有天然气、煤炭、石油、核能、风电、公用事业级及分布式太阳能等发电资产，服务超700万零售用户。
TXNM能源是总部位于美国新墨西哥州阿尔伯克基的能源控股企业，创立于1917年，前身为阿尔伯克基燃气电力公司，旗下拥有PNM、得克萨斯-新墨西哥电力公司（TNMP）两大运营主体，核心业务覆盖能源供应及相关公用事业服务领域。
CWEN vs TXNM — 直观对比
营收规模更大
TXNM
是对方的1.6倍
$310.0M
营收增速更快
CWEN
高出15.8%
5.3%
净利率更高
TXNM
高出32.5%
-33.5%
自由现金流更多
CWEN
多$223.1M
$-152.1M
两年增速更快
CWEN
近两年复合增速
8.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $310.0M | $506.4M |
| 净利润 | $-104.0M | $-5.3M |
| 毛利率 | 51.9% | — |
| 营业利润率 | -11.9% | 18.5% |
| 净利率 | -33.5% | -1.0% |
| 营收同比 | 21.1% | 5.3% |
| 净利润同比 | -3566.7% | -126.4% |
| 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CWENTXNM
| Q4 25 | $310.0M | $506.4M | ||
| Q3 25 | $429.0M | $656.3M | ||
| Q2 25 | $392.0M | $493.8M | ||
| Q1 25 | $298.0M | $480.4M | ||
| Q4 24 | $256.0M | $481.0M | ||
| Q3 24 | $486.0M | $574.3M | ||
| Q2 24 | $366.0M | $473.2M | ||
| Q1 24 | $263.0M | $431.1M |
净利润CWENTXNM
| Q4 25 | $-104.0M | $-5.3M | ||
| Q3 25 | $236.0M | $136.3M | ||
| Q2 25 | $33.0M | $26.0M | ||
| Q1 25 | $4.0M | $12.8M | ||
| Q4 24 | $3.0M | $20.0M | ||
| Q3 24 | $36.0M | $136.4M | ||
| Q2 24 | $51.0M | $52.0M | ||
| Q1 24 | $-2.0M | $50.4M |
毛利率CWENTXNM
| Q4 25 | 51.9% | — | ||
| Q3 25 | 70.2% | — | ||
| Q2 25 | 66.6% | — | ||
| Q1 25 | 59.1% | — | ||
| Q4 24 | 52.0% | — | ||
| Q3 24 | 72.2% | 51.8% | ||
| Q2 24 | 68.0% | 41.9% | ||
| Q1 24 | 52.1% | 40.8% |
营业利润率CWENTXNM
| Q4 25 | -11.9% | 18.5% | ||
| Q3 25 | 26.1% | 30.9% | ||
| Q2 25 | 21.7% | 14.7% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | -14.5% | 15.8% | ||
| Q3 24 | 36.6% | 33.3% | ||
| Q2 24 | 23.0% | 22.3% | ||
| Q1 24 | -11.0% | 18.7% |
净利率CWENTXNM
| Q4 25 | -33.5% | -1.0% | ||
| Q3 25 | 55.0% | 20.8% | ||
| Q2 25 | 8.4% | 5.3% | ||
| Q1 25 | 1.3% | 2.7% | ||
| Q4 24 | 1.2% | 4.2% | ||
| Q3 24 | 7.4% | 23.7% | ||
| Q2 24 | 13.9% | 11.0% | ||
| Q1 24 | -0.8% | 11.7% |
每股收益（稀释后）CWENTXNM
| Q4 25 | — | $-0.06 | ||
| Q3 25 | — | $1.22 | ||
| Q2 25 | — | $0.22 | ||
| Q1 25 | — | $0.10 | ||
| Q4 24 | — | $0.17 | ||
| Q3 24 | — | $1.45 | ||
| Q2 24 | — | $0.53 | ||
| Q1 24 | — | $0.52 |
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 | $231.0M | $18.3M |
| 总债务越低越好 | $7.9B | — |
| 股东权益账面价值 | $5.8B | $3.4B |
| 总资产 | $16.7B | $12.1B |
| 负债/权益比越低杠杆越低 | 1.36× | — |
8季度趋势，按日历期对齐
现金及短期投资CWENTXNM
| Q4 25 | $231.0M | $18.3M | ||
| Q3 25 | $251.0M | $32.1M | ||
| Q2 25 | $260.0M | $22.2M | ||
| Q1 25 | $297.0M | $6.1M | ||
| Q4 24 | $332.0M | $4.5M | ||
| Q3 24 | $292.0M | $7.2M | ||
| Q2 24 | $226.0M | $3.2M | ||
| Q1 24 | $478.0M | $3.0M |
总债务CWENTXNM
| Q4 25 | $7.9B | — | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $8.3B | — | ||
| Q1 25 | $7.2B | — | ||
| Q4 24 | $6.8B | — | ||
| Q3 24 | $6.7B | — | ||
| Q2 24 | $6.8B | — | ||
| Q1 24 | $7.6B | — |
股东权益CWENTXNM
| Q4 25 | $5.8B | $3.4B | ||
| Q3 25 | $5.7B | $3.4B | ||
| Q2 25 | $5.5B | $3.2B | ||
| Q1 25 | $5.4B | $2.5B | ||
| Q4 24 | $5.6B | $2.5B | ||
| Q3 24 | $5.6B | $2.5B | ||
| Q2 24 | $5.7B | $2.4B | ||
| Q1 24 | $5.0B | $2.4B |
总资产CWENTXNM
| Q4 25 | $16.7B | $12.1B | ||
| Q3 25 | $16.1B | $12.0B | ||
| Q2 25 | $16.0B | $11.7B | ||
| Q1 25 | $14.6B | $11.4B | ||
| Q4 24 | $14.3B | $11.2B | ||
| Q3 24 | $14.2B | $10.8B | ||
| Q2 24 | $14.5B | $10.6B | ||
| Q1 24 | $14.9B | $10.3B |
负债/权益比CWENTXNM
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.41× | — | ||
| Q2 25 | 1.49× | — | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 1.21× | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | 1.50× | — |
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 | $177.0M | $157.7M |
| 自由现金流经营现金流 - 资本支出 | $71.0M | $-152.1M |
| 自由现金流率自由现金流/营收 | 22.9% | -30.0% |
| 资本支出强度资本支出/营收 | 34.2% | 61.2% |
| 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 | $369.0M | $-611.4M |
8季度趋势，按日历期对齐
经营现金流CWENTXNM
| Q4 25 | $177.0M | $157.7M | ||
| Q3 25 | $225.0M | $282.0M | ||
| Q2 25 | $191.0M | $3.5M | ||
| Q1 25 | $95.0M | $141.3M | ||
| Q4 24 | $192.0M | $158.6M | ||
| Q3 24 | $301.0M | $180.0M | ||
| Q2 24 | $196.0M | $76.7M | ||
| Q1 24 | $81.0M | $92.8M |
自由现金流CWENTXNM
| Q4 25 | $71.0M | $-152.1M | ||
| Q3 25 | $144.0M | $4.7M | ||
| Q2 25 | $115.0M | $-262.6M | ||
| Q1 25 | $39.0M | $-201.4M | ||
| Q4 24 | $142.0M | $-182.9M | ||
| Q3 24 | $266.0M | $-143.7M | ||
| Q2 24 | $92.0M | $-216.0M | ||
| Q1 24 | $-17.0M | $-196.3M |
自由现金流率CWENTXNM
| Q4 25 | 22.9% | -30.0% | ||
| Q3 25 | 33.6% | 0.7% | ||
| Q2 25 | 29.3% | -53.2% | ||
| Q1 25 | 13.1% | -41.9% | ||
| Q4 24 | 55.5% | -38.0% | ||
| Q3 24 | 54.7% | -25.0% | ||
| Q2 24 | 25.1% | -45.6% | ||
| Q1 24 | -6.5% | -45.5% |
资本支出强度CWENTXNM
| Q4 25 | 34.2% | 61.2% | ||
| Q3 25 | 18.9% | 42.3% | ||
| Q2 25 | 19.4% | 53.9% | ||
| Q1 25 | 18.8% | 71.3% | ||
| Q4 24 | 19.5% | 71.0% | ||
| Q3 24 | 7.2% | 56.4% | ||
| Q2 24 | 28.4% | 61.9% | ||
| Q1 24 | 37.3% | 67.1% |
现金转化率CWENTXNM
| Q4 25 | — | — | ||
| Q3 25 | 0.95× | 2.07× | ||
| Q2 25 | 5.79× | 0.14× | ||
| Q1 25 | 23.75× | 11.04× | ||
| Q4 24 | 64.00× | 7.93× | ||
| Q3 24 | 8.36× | 1.32× | ||
| Q2 24 | 3.84× | 1.48× | ||
| Q1 24 | — | 1.84× |
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
CWEN
暂无分部数据
TXNM
| Electricity | $348.8M | 69% |
| Other | $89.3M | 18% |
| Electric Transmission Service | $40.4M | 8% |
| Wholesale Energy Sales | $26.2M | 5% |
| Miscellaneous Revenue From Contracts With Customers | $1.7M | 0% |
