vs
Diversified Energy Co（DEC）与美世（MERC）财务数据对比。点击上方公司名可切换其他公司
Diversified Energy Co的季度营收约是美世的1.4倍（$666.5M vs $489.3M）
DTE能源是一家总部位于底特律的综合能源企业，在美国与加拿大开展能源相关业务的开发与运营。公司业务板块涵盖电力与燃气公用事业，其中电力业务为密歇根州220万客户服务，燃气业务则服务于该州130万客户。
美世是1945年成立的美国咨询公司，为全球专业服务集团威达信的四大运营子公司之一，总部位于纽约，在43个国家设有办事处，业务覆盖130个国家，主要为客户提供人力资源与金融咨询服务。
DEC vs MERC — 直观对比
营收规模更大
DEC
是对方的1.4倍
$489.3M
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $666.5M | $489.3M |
| 净利润 | $195.5M | — |
| 毛利率 | — | — |
| 营业利润率 | 37.6% | — |
| 净利率 | 29.3% | — |
| 营收同比 | — | -3.5% |
| 净利润同比 | — | — |
| 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DECMERC
| Q1 26 | — | $489.3M | ||
| Q4 25 | $666.5M | $449.5M | ||
| Q3 25 | $499.8M | $458.1M | ||
| Q2 25 | $600.3M | $453.5M | ||
| Q1 25 | — | $507.0M | ||
| Q4 24 | — | $488.4M | ||
| Q3 24 | — | $502.1M | ||
| Q2 24 | — | $499.4M |
净利润DECMERC
| Q1 26 | — | — | ||
| Q4 25 | $195.5M | $-308.7M | ||
| Q3 25 | $171.1M | $-80.8M | ||
| Q2 25 | $297.7M | $-86.1M | ||
| Q1 25 | — | $-22.3M | ||
| Q4 24 | — | $16.7M | ||
| Q3 24 | — | $-17.6M | ||
| Q2 24 | — | $-67.6M |
毛利率DECMERC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 44.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率DECMERC
| Q1 26 | — | — | ||
| Q4 25 | 37.6% | -62.0% | ||
| Q3 25 | 36.2% | -14.8% | ||
| Q2 25 | 48.5% | -12.9% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | -8.8% |
净利率DECMERC
| Q1 26 | — | — | ||
| Q4 25 | 29.3% | -68.7% | ||
| Q3 25 | 34.2% | -17.6% | ||
| Q2 25 | 49.6% | -19.0% | ||
| Q1 25 | — | -4.4% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | -3.5% | ||
| Q2 24 | — | -13.5% |
每股收益（稀释后）DECMERC
| Q1 26 | — | — | ||
| Q4 25 | — | $-4.61 | ||
| Q3 25 | $2.14 | $-1.21 | ||
| Q2 25 | $3.67 | $-1.29 | ||
| Q1 25 | — | $-0.33 | ||
| Q4 24 | — | $0.25 | ||
| Q3 24 | — | $-0.26 | ||
| Q2 24 | — | $-1.01 |
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 | $29.7M | $84.5M |
| 总债务越低越好 | $2.7B | $1.5B |
| 股东权益账面价值 | $984.1M | — |
| 总资产 | $6.2B | $2.0B |
| 负债/权益比越低杠杆越低 | 2.76× | — |
8季度趋势，按日历期对齐
现金及短期投资DECMERC
| Q1 26 | — | $84.5M | ||
| Q4 25 | $29.7M | $186.8M | ||
| Q3 25 | — | $98.1M | ||
| Q2 25 | $23.7M | $146.5M | ||
| Q1 25 | — | $181.5M | ||
| Q4 24 | — | $184.9M | ||
| Q3 24 | — | $239.0M | ||
| Q2 24 | — | $263.2M |
总债务DECMERC
| Q1 26 | — | $1.5B | ||
| Q4 25 | $2.7B | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B |
股东权益DECMERC
| Q1 26 | — | — | ||
| Q4 25 | $984.1M | $68.1M | ||
| Q3 25 | — | $359.5M | ||
| Q2 25 | $727.7M | $446.5M | ||
| Q1 25 | — | $437.4M | ||
| Q4 24 | — | $429.8M | ||
| Q3 24 | — | $516.8M | ||
| Q2 24 | — | $487.7M |
总资产DECMERC
| Q1 26 | — | $2.0B | ||
| Q4 25 | $6.2B | $2.0B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | $5.7B | $2.4B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B |
负债/权益比DECMERC
| Q1 26 | — | — | ||
| Q4 25 | 2.76× | 23.58× | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | — | 3.42× | ||
| Q1 25 | — | 3.44× | ||
| Q4 24 | — | 3.43× | ||
| Q3 24 | — | 3.09× | ||
| Q2 24 | — | 3.22× |
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 | $464.6M | — |
| 自由现金流经营现金流 - 资本支出 | $280.0M | — |
| 自由现金流率自由现金流/营收 | 42.0% | — |
| 资本支出强度资本支出/营收 | 27.7% | — |
| 现金转化率经营现金流/净利润 | 2.38× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DECMERC
| Q1 26 | — | — | ||
| Q4 25 | $464.6M | $46.2M | ||
| Q3 25 | — | $-30.1M | ||
| Q2 25 | $264.1M | $-4.5M | ||
| Q1 25 | — | $-3.0M | ||
| Q4 24 | — | $71.2M | ||
| Q3 24 | — | $-13.9M | ||
| Q2 24 | — | $62.2M |
自由现金流DECMERC
| Q1 26 | — | — | ||
| Q4 25 | $280.0M | $32.0M | ||
| Q3 25 | — | $-60.1M | ||
| Q2 25 | — | $-28.9M | ||
| Q1 25 | — | $-23.1M | ||
| Q4 24 | — | $50.4M | ||
| Q3 24 | — | $-41.2M | ||
| Q2 24 | — | $44.3M |
自由现金流率DECMERC
| Q1 26 | — | — | ||
| Q4 25 | 42.0% | 7.1% | ||
| Q3 25 | — | -13.1% | ||
| Q2 25 | — | -6.4% | ||
| Q1 25 | — | -4.6% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | — | -8.2% | ||
| Q2 24 | — | 8.9% |
资本支出强度DECMERC
| Q1 26 | — | — | ||
| Q4 25 | 27.7% | 3.1% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 5.4% | ||
| Q2 24 | — | 3.6% |
现金转化率DECMERC
| Q1 26 | — | — | ||
| Q4 25 | 2.38× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.89× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.26× | ||
| 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
DEC
暂无分部数据
MERC
| Pulp segment | $345.0M | 71% |
| Solid wood segment | $131.7M | 27% |
| Corporate and other | $12.6M | 3% |
