vs
Diversified Energy Co（DEC）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
明晟的季度营收约是Diversified Energy Co的1.2倍（$822.5M vs $666.5M），明晟净利率更高（34.6% vs 29.3%，领先5.3%），明晟自由现金流更多（$488.7M vs $280.0M）
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。
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
DEC vs MSCI — 直观对比
营收规模更大
MSCI
是对方的1.2倍
$666.5M
净利率更高
MSCI
高出5.3%
29.3%
自由现金流更多
MSCI
多$208.7M
$280.0M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $666.5M | $822.5M |
| 净利润 | $195.5M | $284.7M |
| 毛利率 | — | — |
| 营业利润率 | 37.6% | 56.4% |
| 净利率 | 29.3% | 34.6% |
| 营收同比 | — | 10.6% |
| 净利润同比 | — | -6.8% |
| 每股收益（稀释后） | — | $3.81 |
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DECMSCI
| Q4 25 | $666.5M | $822.5M | ||
| Q3 25 | $499.8M | $793.4M | ||
| Q2 25 | $600.3M | $772.7M | ||
| Q1 25 | — | $745.8M | ||
| Q4 24 | — | $743.5M | ||
| Q3 24 | — | $724.7M | ||
| Q2 24 | — | $707.9M | ||
| Q1 24 | — | $680.0M |
净利润DECMSCI
| Q4 25 | $195.5M | $284.7M | ||
| Q3 25 | $171.1M | $325.4M | ||
| Q2 25 | $297.7M | $303.6M | ||
| Q1 25 | — | $288.6M | ||
| Q4 24 | — | $305.5M | ||
| Q3 24 | — | $280.9M | ||
| Q2 24 | — | $266.8M | ||
| Q1 24 | — | $256.0M |
毛利率DECMSCI
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 44.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率DECMSCI
| Q4 25 | 37.6% | 56.4% | ||
| Q3 25 | 36.2% | 56.4% | ||
| Q2 25 | 48.5% | 55.0% | ||
| Q1 25 | — | 50.6% | ||
| Q4 24 | — | 54.5% | ||
| Q3 24 | — | 55.4% | ||
| Q2 24 | — | 54.0% | ||
| Q1 24 | — | 49.9% |
净利率DECMSCI
| Q4 25 | 29.3% | 34.6% | ||
| Q3 25 | 34.2% | 41.0% | ||
| Q2 25 | 49.6% | 39.3% | ||
| Q1 25 | — | 38.7% | ||
| Q4 24 | — | 41.1% | ||
| Q3 24 | — | 38.8% | ||
| Q2 24 | — | 37.7% | ||
| Q1 24 | — | 37.6% |
每股收益（稀释后）DECMSCI
| Q4 25 | — | $3.81 | ||
| Q3 25 | $2.14 | $4.25 | ||
| Q2 25 | $3.67 | $3.92 | ||
| Q1 25 | — | $3.71 | ||
| Q4 24 | — | $3.89 | ||
| Q3 24 | — | $3.57 | ||
| Q2 24 | — | $3.37 | ||
| Q1 24 | — | $3.22 |
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 | $515.3M |
| 总债务越低越好 | $2.7B | $6.2B |
| 股东权益账面价值 | $984.1M | $-2.7B |
| 总资产 | $6.2B | $5.7B |
| 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DECMSCI
| Q4 25 | $29.7M | $515.3M | ||
| Q3 25 | — | $400.1M | ||
| Q2 25 | $23.7M | $347.3M | ||
| Q1 25 | — | $360.7M | ||
| Q4 24 | — | $409.4M | ||
| Q3 24 | — | $501.0M | ||
| Q2 24 | — | $451.4M | ||
| Q1 24 | — | $519.3M |
总债务DECMSCI
| Q4 25 | $2.7B | $6.2B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.5B |
股东权益DECMSCI
| Q4 25 | $984.1M | $-2.7B | ||
| Q3 25 | — | $-1.9B | ||
| Q2 25 | $727.7M | $-886.2M | ||
| Q1 25 | — | $-958.6M | ||
| Q4 24 | — | $-940.0M | ||
| Q3 24 | — | $-751.0M | ||
| Q2 24 | — | $-734.5M | ||
| Q1 24 | — | $-650.5M |
总资产DECMSCI
| Q4 25 | $6.2B | $5.7B | ||
| Q3 25 | — | $5.4B | ||
| Q2 25 | $5.7B | $5.4B | ||
| Q1 25 | — | $5.3B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $5.4B | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $5.5B |
负债/权益比DECMSCI
| Q4 25 | 2.76× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $501.1M |
| 自由现金流经营现金流 - 资本支出 | $280.0M | $488.7M |
| 自由现金流率自由现金流/营收 | 42.0% | 59.4% |
| 资本支出强度资本支出/营收 | 27.7% | 1.5% |
| 现金转化率经营现金流/净利润 | 2.38× | 1.76× |
| 过去12个月自由现金流最近4个季度 | — | $1.5B |
8季度趋势，按日历期对齐
经营现金流DECMSCI
| Q4 25 | $464.6M | $501.1M | ||
| Q3 25 | — | $449.4M | ||
| Q2 25 | $264.1M | $336.1M | ||
| Q1 25 | — | $301.7M | ||
| Q4 24 | — | $430.6M | ||
| Q3 24 | — | $421.6M | ||
| Q2 24 | — | $349.2M | ||
| Q1 24 | — | $300.1M |
自由现金流DECMSCI
| Q4 25 | $280.0M | $488.7M | ||
| Q3 25 | — | $445.5M | ||
| Q2 25 | — | $324.7M | ||
| Q1 25 | — | $290.2M | ||
| Q4 24 | — | $416.4M | ||
| Q3 24 | — | $415.0M | ||
| Q2 24 | — | $340.6M | ||
| Q1 24 | — | $295.9M |
自由现金流率DECMSCI
| Q4 25 | 42.0% | 59.4% | ||
| Q3 25 | — | 56.2% | ||
| Q2 25 | — | 42.0% | ||
| Q1 25 | — | 38.9% | ||
| Q4 24 | — | 56.0% | ||
| Q3 24 | — | 57.3% | ||
| Q2 24 | — | 48.1% | ||
| Q1 24 | — | 43.5% |
资本支出强度DECMSCI
| Q4 25 | 27.7% | 1.5% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 0.6% |
现金转化率DECMSCI
| Q4 25 | 2.38× | 1.76× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | 0.89× | 1.11× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | — | 1.50× | ||
| Q2 24 | — | 1.31× | ||
| Q1 24 | — | 1.17× |
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
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
