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Crane NXT, Co.（CXT）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
Crane NXT, Co.的季度营收约是PLUG POWER INC的1.7倍（$387.7M vs $225.2M），Crane NXT, Co.净利率更高（1.7% vs -375.6%，领先377.3%），PLUG POWER INC同比增速更快（17.6% vs 17.4%），Crane NXT, Co.自由现金流更多（$-24.1M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 2.3%）
Crane NXT是一家总部位于美国康涅狄格州斯坦福德的工业产品企业，由理查德·特勒·克莱恩于1855年创立。曾是美国头部卫浴配件制造商，1990年出售卫浴业务后，自1960年起逐步转型为多元化控股集团，目前核心业务涵盖航空航天与电子、工程材料、流体处理、控制设备四大板块，服务化工等多个行业领域。
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。
CXT vs PLUG — 直观对比
营收规模更大
CXT
是对方的1.7倍
$225.2M
营收增速更快
PLUG
高出0.2%
17.4%
净利率更高
CXT
高出377.3%
-375.6%
自由现金流更多
CXT
多$128.9M
$-153.0M
两年增速更快
PLUG
近两年复合增速
2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $387.7M | $225.2M |
| 净利润 | $6.4M | $-846.0M |
| 毛利率 | 40.2% | 2.4% |
| 营业利润率 | — | -338.9% |
| 净利率 | 1.7% | -375.6% |
| 营收同比 | 17.4% | 17.6% |
| 净利润同比 | -70.5% | 36.7% |
| 每股收益（稀释后） | — | $-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CXTPLUG
| Q1 26 | $387.7M | — | ||
| Q4 25 | $476.9M | $225.2M | ||
| Q3 25 | $445.1M | $177.1M | ||
| Q2 25 | $404.4M | $174.0M | ||
| Q1 25 | $330.3M | $133.7M | ||
| Q4 24 | $399.1M | $191.5M | ||
| Q3 24 | $403.5M | $173.7M | ||
| Q2 24 | $370.6M | $143.3M |
净利润CXTPLUG
| Q1 26 | $6.4M | — | ||
| Q4 25 | $47.5M | $-846.0M | ||
| Q3 25 | $50.5M | $-361.9M | ||
| Q2 25 | $24.9M | $-227.1M | ||
| Q1 25 | $21.7M | $-196.7M | ||
| Q4 24 | — | $-1.3B | ||
| Q3 24 | $47.1M | $-211.2M | ||
| Q2 24 | $41.6M | $-262.3M |
毛利率CXTPLUG
| Q1 26 | 40.2% | — | ||
| Q4 25 | 42.4% | 2.4% | ||
| Q3 25 | 43.3% | -67.9% | ||
| Q2 25 | 41.7% | -30.7% | ||
| Q1 25 | 42.4% | -55.3% | ||
| Q4 24 | 45.2% | -122.5% | ||
| Q3 24 | 42.5% | -57.6% | ||
| Q2 24 | 43.4% | -91.6% |
营业利润率CXTPLUG
| Q1 26 | — | — | ||
| Q4 25 | 16.7% | -338.9% | ||
| Q3 25 | 18.4% | -197.0% | ||
| Q2 25 | 11.8% | -101.7% | ||
| Q1 25 | 11.3% | -133.5% | ||
| Q4 24 | 17.7% | -678.7% | ||
| Q3 24 | 18.6% | -124.4% | ||
| Q2 24 | 18.2% | -170.7% |
净利率CXTPLUG
| Q1 26 | 1.7% | — | ||
| Q4 25 | 10.0% | -375.6% | ||
| Q3 25 | 11.3% | -204.4% | ||
| Q2 25 | 6.2% | -130.5% | ||
| Q1 25 | 6.6% | -147.1% | ||
| Q4 24 | — | -697.5% | ||
| Q3 24 | 11.7% | -121.5% | ||
| Q2 24 | 11.2% | -183.0% |
每股收益（稀释后）CXTPLUG
| Q1 26 | — | — | ||
| Q4 25 | $0.82 | $-0.70 | ||
| Q3 25 | $0.87 | $-0.31 | ||
| Q2 25 | $0.43 | $-0.20 | ||
| Q1 25 | $0.38 | $-0.21 | ||
| Q4 24 | $1.00 | $-1.61 | ||
| Q3 24 | $0.81 | $-0.25 | ||
| Q2 24 | $0.72 | $-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 | $228.3M | $368.5M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $1.2B | $978.1M |
| 总资产 | $3.6B | $2.6B |
| 负债/权益比越低杠杆越低 | 1.22× | — |
8季度趋势，按日历期对齐
现金及短期投资CXTPLUG
| Q1 26 | $228.3M | — | ||
| Q4 25 | $233.8M | $368.5M | ||
| Q3 25 | $182.4M | $165.9M | ||
| Q2 25 | $152.5M | $140.7M | ||
| Q1 25 | $173.8M | $295.8M | ||
| Q4 24 | $165.8M | $205.7M | ||
| Q3 24 | $165.1M | $93.9M | ||
| Q2 24 | $175.5M | $62.4M |
总债务CXTPLUG
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $834.3M | — | ||
| Q2 25 | $861.8M | — | ||
| Q1 25 | $541.1M | — | ||
| Q4 24 | $540.6M | — | ||
| Q3 24 | $638.2M | $3.9M | ||
| Q2 24 | $638.9M | $3.7M |
股东权益CXTPLUG
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.3B | $978.1M | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.1B | $1.9B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.1B | $3.0B | ||
| Q2 24 | $989.8M | $3.0B |
总资产CXTPLUG
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.1B | $2.6B | ||
| Q3 25 | $2.9B | $3.1B | ||
| Q2 25 | $2.9B | $3.4B | ||
| Q1 25 | $2.4B | $3.6B | ||
| Q4 24 | $2.4B | $3.6B | ||
| Q3 24 | $2.4B | $4.7B | ||
| Q2 24 | $2.4B | $4.8B |
负债/权益比CXTPLUG
| Q1 26 | 1.22× | — | ||
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.49× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.60× | 0.00× | ||
| Q2 24 | 0.65× | 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 | $-24.1M | $-153.0M |
| 自由现金流率自由现金流/营收 | -6.2% | -67.9% |
| 资本支出强度资本支出/营收 | 2.6% | 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CXTPLUG
| Q1 26 | — | — | ||
| Q4 25 | $105.8M | $-148.6M | ||
| Q3 25 | $92.0M | $-89.8M | ||
| Q2 25 | $62.8M | $-191.8M | ||
| Q1 25 | $-19.1M | $-105.6M | ||
| Q4 24 | $81.1M | $-131.2M | ||
| Q3 24 | $66.7M | $-174.9M | ||
| Q2 24 | $56.8M | $-254.7M |
自由现金流CXTPLUG
| Q1 26 | $-24.1M | — | ||
| Q4 25 | — | $-153.0M | ||
| Q3 25 | $78.7M | $-117.5M | ||
| Q2 25 | $55.8M | $-230.4M | ||
| Q1 25 | $-32.2M | $-146.0M | ||
| Q4 24 | — | $-165.2M | ||
| Q3 24 | $53.5M | $-234.2M | ||
| Q2 24 | $47.9M | $-356.0M |
自由现金流率CXTPLUG
| Q1 26 | -6.2% | — | ||
| Q4 25 | — | -67.9% | ||
| Q3 25 | 17.7% | -66.4% | ||
| Q2 25 | 13.8% | -132.5% | ||
| Q1 25 | -9.7% | -109.2% | ||
| Q4 24 | — | -86.3% | ||
| Q3 24 | 13.3% | -134.8% | ||
| Q2 24 | 12.9% | -248.4% |
资本支出强度CXTPLUG
| Q1 26 | 2.6% | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | 3.0% | 15.6% | ||
| Q2 25 | 1.7% | 22.2% | ||
| Q1 25 | 4.0% | 30.3% | ||
| Q4 24 | — | 17.7% | ||
| Q3 24 | 3.3% | 34.1% | ||
| Q2 24 | 2.4% | 70.7% |
现金转化率CXTPLUG
| Q1 26 | — | — | ||
| Q4 25 | 2.23× | — | ||
| Q3 25 | 1.82× | — | ||
| Q2 25 | 2.52× | — | ||
| Q1 25 | -0.88× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.42× | — | ||
| Q2 24 | 1.37× | — |
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
CXT
| Detection and Traceability Technologies | $194.9M | 50% |
| Security and Authentication Technologies | $192.8M | 50% |
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% |
