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戴德梁行（CWK）与PPL Corporation（PPL）财务数据对比。点击上方公司名可切换其他公司
戴德梁行的季度营收约是PPL Corporation的1.2倍（$2.9B vs $2.3B），PPL Corporation净利率更高（11.3% vs -0.8%，领先12.1%），戴德梁行同比增速更快（10.8% vs 7.2%），戴德梁行自由现金流更多（$234.3M vs $-614.0M），过去两年戴德梁行的营收复合增速更高（15.5% vs 1.0%）
戴德梁行是全球化的商业地产及物业管理服务提供商，总部位于美国伊利诺伊州芝加哥，由联合创始人J·克莱兹代尔·库什曼和伯纳德·韦克菲尔德共同创立，在全球商业地产服务领域拥有广泛的业务布局与专业服务能力，为各类客户提供定制化的地产相关解决方案。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
CWK vs PPL — 直观对比
营收规模更大
CWK
是对方的1.2倍
$2.3B
营收增速更快
CWK
高出3.6%
7.2%
净利率更高
PPL
高出12.1%
-0.8%
自由现金流更多
CWK
多$848.3M
$-614.0M
两年增速更快
CWK
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $2.3B |
| 净利润 | $-22.4M | $266.0M |
| 毛利率 | — | — |
| 营业利润率 | 6.1% | 20.3% |
| 净利率 | -0.8% | 11.3% |
| 营收同比 | 10.8% | 7.2% |
| 净利润同比 | -119.8% | 50.3% |
| 每股收益（稀释后） | $-0.10 | $0.35 |
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CWKPPL
| Q4 25 | $2.9B | $2.3B | ||
| Q3 25 | $2.6B | $2.2B | ||
| Q2 25 | $2.5B | $2.0B | ||
| Q1 25 | $2.3B | $2.5B | ||
| Q4 24 | $2.6B | $2.2B | ||
| Q3 24 | $2.3B | $2.1B | ||
| Q2 24 | $2.3B | $1.9B | ||
| Q1 24 | $2.2B | $2.3B |
净利润CWKPPL
| Q4 25 | $-22.4M | $266.0M | ||
| Q3 25 | $51.4M | $318.0M | ||
| Q2 25 | $57.3M | $183.0M | ||
| Q1 25 | $1.9M | $414.0M | ||
| Q4 24 | $112.9M | $177.0M | ||
| Q3 24 | $33.7M | $214.0M | ||
| Q2 24 | $13.5M | $190.0M | ||
| Q1 24 | $-28.8M | $307.0M |
营业利润率CWKPPL
| Q4 25 | 6.1% | 20.3% | ||
| Q3 25 | 4.1% | 25.4% | ||
| Q2 25 | 4.9% | 19.9% | ||
| Q1 25 | 2.0% | 26.6% | ||
| Q4 24 | 6.6% | 17.2% | ||
| Q3 24 | 3.2% | 20.6% | ||
| Q2 24 | 3.1% | 20.8% | ||
| Q1 24 | 0.9% | 23.7% |
净利率CWKPPL
| Q4 25 | -0.8% | 11.3% | ||
| Q3 25 | 2.0% | 14.2% | ||
| Q2 25 | 2.3% | 9.0% | ||
| Q1 25 | 0.1% | 16.3% | ||
| Q4 24 | 4.3% | 8.1% | ||
| Q3 24 | 1.4% | 10.3% | ||
| Q2 24 | 0.6% | 10.1% | ||
| Q1 24 | -1.3% | 13.3% |
每股收益（稀释后）CWKPPL
| Q4 25 | $-0.10 | $0.35 | ||
| Q3 25 | $0.22 | $0.43 | ||
| Q2 25 | $0.25 | $0.25 | ||
| Q1 25 | $0.01 | $0.56 | ||
| Q4 24 | $0.49 | $0.23 | ||
| Q3 24 | $0.14 | $0.29 | ||
| Q2 24 | $0.06 | $0.26 | ||
| Q1 24 | $-0.13 | $0.42 |
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 | $784.2M | $1.1B |
| 总债务越低越好 | $2.7B | $18.9B |
| 股东权益账面价值 | $2.0B | $14.9B |
| 总资产 | $7.7B | $45.2B |
| 负债/权益比越低杠杆越低 | 1.40× | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资CWKPPL
| Q4 25 | $784.2M | $1.1B | ||
| Q3 25 | $634.4M | $1.1B | ||
| Q2 25 | $618.2M | $294.0M | ||
| Q1 25 | $623.2M | $312.0M | ||
| Q4 24 | $793.3M | $306.0M | ||
| Q3 24 | $775.4M | $542.0M | ||
| Q2 24 | $567.3M | $282.0M | ||
| Q1 24 | $553.5M | $276.0M |
总债务CWKPPL
| Q4 25 | $2.7B | $18.9B | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $16.5B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $3.2B | — |
股东权益CWKPPL
| Q4 25 | $2.0B | $14.9B | ||
| Q3 25 | $2.0B | $14.4B | ||
| Q2 25 | $1.9B | $14.3B | ||
| Q1 25 | $1.8B | $14.3B | ||
| Q4 24 | $1.8B | $14.1B | ||
| Q3 24 | $1.7B | $14.1B | ||
| Q2 24 | $1.6B | $14.1B | ||
| Q1 24 | $1.6B | $14.1B |
总资产CWKPPL
| Q4 25 | $7.7B | $45.2B | ||
| Q3 25 | $7.7B | $43.9B | ||
| Q2 25 | $7.6B | $42.4B | ||
| Q1 25 | $7.4B | $41.8B | ||
| Q4 24 | $7.5B | $41.1B | ||
| Q3 24 | $7.5B | $40.5B | ||
| Q2 24 | $7.3B | $39.8B | ||
| Q1 24 | $7.5B | $39.6B |
负债/权益比CWKPPL
| Q4 25 | 1.40× | 1.27× | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.70× | — | ||
| Q4 24 | 1.73× | 1.17× | ||
| Q3 24 | 1.81× | — | ||
| Q2 24 | 1.91× | — | ||
| Q1 24 | 1.96× | — |
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 | $257.3M | $548.0M |
| 自由现金流经营现金流 - 资本支出 | $234.3M | $-614.0M |
| 自由现金流率自由现金流/营收 | 8.0% | -26.1% |
| 资本支出强度资本支出/营收 | 0.8% | 49.5% |
| 现金转化率经营现金流/净利润 | — | 2.06× |
| 过去12个月自由现金流最近4个季度 | $293.0M | $-1.4B |
8季度趋势，按日历期对齐
经营现金流CWKPPL
| Q4 25 | $257.3M | $548.0M | ||
| Q3 25 | $235.5M | $966.0M | ||
| Q2 25 | $9.6M | $602.0M | ||
| Q1 25 | $-162.0M | $513.0M | ||
| Q4 24 | $115.2M | $511.0M | ||
| Q3 24 | $196.1M | $781.0M | ||
| Q2 24 | $21.8M | $766.0M | ||
| Q1 24 | $-125.1M | $282.0M |
自由现金流CWKPPL
| Q4 25 | $234.3M | $-614.0M | ||
| Q3 25 | $225.0M | $-179.0M | ||
| Q2 25 | $300.0K | $-328.0M | ||
| Q1 25 | $-166.6M | $-280.0M | ||
| Q4 24 | $105.9M | $-349.0M | ||
| Q3 24 | $186.7M | $102.0M | ||
| Q2 24 | $10.0M | $96.0M | ||
| Q1 24 | $-135.6M | $-314.0M |
自由现金流率CWKPPL
| Q4 25 | 8.0% | -26.1% | ||
| Q3 25 | 8.6% | -8.0% | ||
| Q2 25 | 0.0% | -16.1% | ||
| Q1 25 | -7.3% | -11.0% | ||
| Q4 24 | 4.0% | -15.9% | ||
| Q3 24 | 8.0% | 4.9% | ||
| Q2 24 | 0.4% | 5.1% | ||
| Q1 24 | -6.2% | -13.6% |
资本支出强度CWKPPL
| Q4 25 | 0.8% | 49.5% | ||
| Q3 25 | 0.4% | 51.2% | ||
| Q2 25 | 0.4% | 45.6% | ||
| Q1 25 | 0.2% | 31.2% | ||
| Q4 24 | 0.4% | 39.3% | ||
| Q3 24 | 0.4% | 32.7% | ||
| Q2 24 | 0.5% | 35.8% | ||
| Q1 24 | 0.5% | 25.9% |
现金转化率CWKPPL
| Q4 25 | — | 2.06× | ||
| Q3 25 | 4.58× | 3.04× | ||
| Q2 25 | 0.17× | 3.29× | ||
| Q1 25 | -85.26× | 1.24× | ||
| Q4 24 | 1.02× | 2.89× | ||
| Q3 24 | 5.82× | 3.65× | ||
| Q2 24 | 1.61× | 4.03× | ||
| Q1 24 | — | 0.92× |
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
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
