vs
Clearway Energy, Inc.（CWEN）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
世纪互联的季度营收约是Clearway Energy, Inc.的1.2倍（$362.7M vs $310.0M），世纪互联净利率更高（-10.7% vs -33.5%，领先22.9%），Clearway Energy, Inc.自由现金流更多（$71.0M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 8.6%）
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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
CWEN vs VNET — 直观对比
营收规模更大
VNET
是对方的1.2倍
$310.0M
净利率更高
VNET
高出22.9%
-33.5%
自由现金流更多
CWEN
多$264.1M
$-193.1M
两年增速更快
VNET
近两年复合增速
8.6%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $310.0M | $362.7M |
| 净利润 | $-104.0M | $-38.7M |
| 毛利率 | 51.9% | 20.9% |
| 营业利润率 | -11.9% | 0.5% |
| 净利率 | -33.5% | -10.7% |
| 营收同比 | 21.1% | — |
| 净利润同比 | -3566.7% | — |
| 每股收益（稀释后） | — | — |
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CWENVNET
| Q4 25 | $310.0M | — | ||
| Q3 25 | $429.0M | $362.7M | ||
| Q2 25 | $392.0M | — | ||
| Q1 25 | $298.0M | $309.5M | ||
| Q4 24 | $256.0M | — | ||
| Q3 24 | $486.0M | $302.2M | ||
| Q2 24 | $366.0M | $274.4M | ||
| Q1 24 | $263.0M | $262.9M |
净利润CWENVNET
| Q4 25 | $-104.0M | — | ||
| Q3 25 | $236.0M | $-38.7M | ||
| Q2 25 | $33.0M | — | ||
| Q1 25 | $4.0M | $-2.4M | ||
| Q4 24 | $3.0M | — | ||
| Q3 24 | $36.0M | $-2.1M | ||
| Q2 24 | $51.0M | $-1.1M | ||
| Q1 24 | $-2.0M | $-22.0M |
毛利率CWENVNET
| Q4 25 | 51.9% | — | ||
| Q3 25 | 70.2% | 20.9% | ||
| Q2 25 | 66.6% | — | ||
| Q1 25 | 59.1% | 25.2% | ||
| Q4 24 | 52.0% | — | ||
| Q3 24 | 72.2% | 23.2% | ||
| Q2 24 | 68.0% | 21.3% | ||
| Q1 24 | 52.1% | 21.6% |
营业利润率CWENVNET
| Q4 25 | -11.9% | — | ||
| Q3 25 | 26.1% | 0.5% | ||
| Q2 25 | 21.7% | — | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | -14.5% | — | ||
| Q3 24 | 36.6% | 24.5% | ||
| Q2 24 | 23.0% | 0.2% | ||
| Q1 24 | -11.0% | 0.2% |
净利率CWENVNET
| Q4 25 | -33.5% | — | ||
| Q3 25 | 55.0% | -10.7% | ||
| Q2 25 | 8.4% | — | ||
| Q1 25 | 1.3% | -0.8% | ||
| Q4 24 | 1.2% | — | ||
| Q3 24 | 7.4% | -0.7% | ||
| Q2 24 | 13.9% | -0.4% | ||
| Q1 24 | -0.8% | -8.4% |
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 | $492.1M |
| 总债务越低越好 | $7.9B | — |
| 股东权益账面价值 | $5.8B | $890.8M |
| 总资产 | $16.7B | $6.1B |
| 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CWENVNET
| Q4 25 | $231.0M | — | ||
| Q3 25 | $251.0M | $492.1M | ||
| Q2 25 | $260.0M | — | ||
| Q1 25 | $297.0M | $544.3M | ||
| Q4 24 | $332.0M | — | ||
| Q3 24 | $292.0M | $219.5M | ||
| Q2 24 | $226.0M | $247.2M | ||
| Q1 24 | $478.0M | $246.9M |
总债务CWENVNET
| Q4 25 | $7.9B | — | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $8.3B | — | ||
| Q1 25 | $7.2B | — | ||
| Q4 24 | $6.8B | — | ||
| Q3 24 | $6.7B | $1.2B | ||
| Q2 24 | $6.8B | — | ||
| Q1 24 | $7.6B | — |
股东权益CWENVNET
| Q4 25 | $5.8B | — | ||
| Q3 25 | $5.7B | $890.8M | ||
| Q2 25 | $5.5B | — | ||
| Q1 25 | $5.4B | $927.8M | ||
| Q4 24 | $5.6B | — | ||
| Q3 24 | $5.6B | $902.9M | ||
| Q2 24 | $5.7B | $900.6M | ||
| Q1 24 | $5.0B | $895.1M |
总资产CWENVNET
| Q4 25 | $16.7B | — | ||
| Q3 25 | $16.1B | $6.1B | ||
| Q2 25 | $16.0B | — | ||
| Q1 25 | $14.6B | $5.4B | ||
| Q4 24 | $14.3B | — | ||
| Q3 24 | $14.2B | $4.3B | ||
| Q2 24 | $14.5B | $4.0B | ||
| Q1 24 | $14.9B | $3.9B |
负债/权益比CWENVNET
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.41× | — | ||
| Q2 25 | 1.49× | — | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 1.21× | — | ||
| Q3 24 | 1.20× | 1.28× | ||
| 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 | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $71.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | 22.9% | -53.2% |
| 资本支出强度资本支出/营收 | 34.2% | 84.6% |
| 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 | $-589.7M |
8季度趋势，按日历期对齐
经营现金流CWENVNET
| Q4 25 | $177.0M | — | ||
| Q3 25 | $225.0M | $113.8M | ||
| Q2 25 | $191.0M | — | ||
| Q1 25 | $95.0M | $27.0M | ||
| Q4 24 | $192.0M | — | ||
| Q3 24 | $301.0M | $108.3M | ||
| Q2 24 | $196.0M | $55.8M | ||
| Q1 24 | $81.0M | $37.1M |
自由现金流CWENVNET
| Q4 25 | $71.0M | — | ||
| Q3 25 | $144.0M | $-193.1M | ||
| Q2 25 | $115.0M | — | ||
| Q1 25 | $39.0M | $-220.0M | ||
| Q4 24 | $142.0M | — | ||
| Q3 24 | $266.0M | $-95.0M | ||
| Q2 24 | $92.0M | $-81.6M | ||
| Q1 24 | $-17.0M | $-102.2M |
自由现金流率CWENVNET
| Q4 25 | 22.9% | — | ||
| Q3 25 | 33.6% | -53.2% | ||
| Q2 25 | 29.3% | — | ||
| Q1 25 | 13.1% | -71.1% | ||
| Q4 24 | 55.5% | — | ||
| Q3 24 | 54.7% | -31.4% | ||
| Q2 24 | 25.1% | -29.8% | ||
| Q1 24 | -6.5% | -38.9% |
资本支出强度CWENVNET
| Q4 25 | 34.2% | — | ||
| Q3 25 | 18.9% | 84.6% | ||
| Q2 25 | 19.4% | — | ||
| Q1 25 | 18.8% | 79.8% | ||
| Q4 24 | 19.5% | — | ||
| Q3 24 | 7.2% | 67.3% | ||
| Q2 24 | 28.4% | 50.1% | ||
| Q1 24 | 37.3% | 53.0% |
现金转化率CWENVNET
| Q4 25 | — | — | ||
| Q3 25 | 0.95× | — | ||
| Q2 25 | 5.79× | — | ||
| Q1 25 | 23.75× | — | ||
| Q4 24 | 64.00× | — | ||
| Q3 24 | 8.36× | — | ||
| Q2 24 | 3.84× | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
