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Diversified Energy Co（DEC）与SBA Communications（SBAC）财务数据对比。点击上方公司名可切换其他公司
SBA Communications的季度营收约是Diversified Energy Co的1.1倍（$703.4M vs $666.5M），Diversified Energy Co净利率更高（29.3% vs 26.3%，领先3.0%）
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。
SBA Communications是一家房地产投资信托企业，核心业务为持有、运营无线通信基础设施，市场覆盖美国、加拿大、中南美洲及南非地区。公司由Steven Bernstein于1989年创立，前身为Steven Bernstein and Associates。
DEC vs SBAC — 直观对比
营收规模更大
SBAC
是对方的1.1倍
$666.5M
净利率更高
DEC
高出3.0%
26.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $666.5M | $703.4M |
| 净利润 | $195.5M | $184.9M |
| 毛利率 | — | — |
| 营业利润率 | 37.6% | 48.7% |
| 净利率 | 29.3% | 26.3% |
| 营收同比 | — | -1.6% |
| 净利润同比 | — | -15.1% |
| 每股收益（稀释后） | — | $1.74 |
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DECSBAC
| Q1 26 | — | $703.4M | ||
| Q4 25 | $666.5M | $719.6M | ||
| Q3 25 | $499.8M | $732.3M | ||
| Q2 25 | $600.3M | $699.0M | ||
| Q1 25 | — | $664.2M | ||
| Q4 24 | — | $693.7M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $660.5M |
净利润DECSBAC
| Q1 26 | — | $184.9M | ||
| Q4 25 | $195.5M | $370.4M | ||
| Q3 25 | $171.1M | $236.8M | ||
| Q2 25 | $297.7M | $225.8M | ||
| Q1 25 | — | $220.7M | ||
| Q4 24 | — | $178.8M | ||
| Q3 24 | — | $258.5M | ||
| Q2 24 | — | $162.8M |
毛利率DECSBAC
| Q1 26 | — | — | ||
| Q4 25 | — | 75.6% | ||
| Q3 25 | — | 74.1% | ||
| Q2 25 | 44.7% | 75.4% | ||
| Q1 25 | — | 76.9% | ||
| Q4 24 | — | 78.1% | ||
| Q3 24 | — | 77.5% | ||
| Q2 24 | — | 78.6% |
营业利润率DECSBAC
| Q1 26 | — | 48.7% | ||
| Q4 25 | 37.6% | 41.5% | ||
| Q3 25 | 36.2% | 51.1% | ||
| Q2 25 | 48.5% | 47.9% | ||
| Q1 25 | — | 50.4% | ||
| Q4 24 | — | 55.1% | ||
| Q3 24 | — | 56.3% | ||
| Q2 24 | — | 53.7% |
净利率DECSBAC
| Q1 26 | — | 26.3% | ||
| Q4 25 | 29.3% | 51.5% | ||
| Q3 25 | 34.2% | 32.3% | ||
| Q2 25 | 49.6% | 32.3% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 25.8% | ||
| Q3 24 | — | 38.7% | ||
| Q2 24 | — | 24.7% |
每股收益（稀释后）DECSBAC
| Q1 26 | — | $1.74 | ||
| Q4 25 | — | $3.47 | ||
| Q3 25 | $2.14 | $2.20 | ||
| Q2 25 | $3.67 | $2.09 | ||
| Q1 25 | — | $2.04 | ||
| Q4 24 | — | $1.61 | ||
| Q3 24 | — | $2.40 | ||
| Q2 24 | — | $1.51 |
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 | $269.1M |
| 总债务越低越好 | $2.7B | $2.7B |
| 股东权益账面价值 | $984.1M | — |
| 总资产 | $6.2B | $11.7B |
| 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DECSBAC
| Q1 26 | — | $269.1M | ||
| Q4 25 | $29.7M | $271.2M | ||
| Q3 25 | — | $431.1M | ||
| Q2 25 | $23.7M | $276.8M | ||
| Q1 25 | — | $702.2M | ||
| Q4 24 | — | $444.4M | ||
| Q3 24 | — | $202.6M | ||
| Q2 24 | — | $250.9M |
总债务DECSBAC
| Q1 26 | — | $2.7B | ||
| Q4 25 | $2.7B | $12.9B | ||
| Q3 25 | — | $12.7B | ||
| Q2 25 | — | $12.5B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | — | $13.6B | ||
| Q3 24 | — | $12.3B | ||
| Q2 24 | — | $12.3B |
股东权益DECSBAC
| Q1 26 | — | — | ||
| Q4 25 | $984.1M | $-4.9B | ||
| Q3 25 | — | $-4.9B | ||
| Q2 25 | $727.7M | $-4.9B | ||
| Q1 25 | — | $-5.0B | ||
| Q4 24 | — | $-5.1B | ||
| Q3 24 | — | $-5.2B | ||
| Q2 24 | — | $-5.3B |
总资产DECSBAC
| Q1 26 | — | $11.7B | ||
| Q4 25 | $6.2B | $11.6B | ||
| Q3 25 | — | $11.3B | ||
| Q2 25 | $5.7B | $10.8B | ||
| Q1 25 | — | $10.4B | ||
| Q4 24 | — | $11.4B | ||
| Q3 24 | — | $10.2B | ||
| Q2 24 | — | $9.8B |
负债/权益比DECSBAC
| Q1 26 | — | — | ||
| Q4 25 | 2.76× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $255.1M |
| 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% | 9.5% |
| 现金转化率经营现金流/净利润 | 2.38× | 1.38× |
| 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DECSBAC
| Q1 26 | — | $255.1M | ||
| Q4 25 | $464.6M | $1.3B | ||
| Q3 25 | — | $318.0M | ||
| Q2 25 | $264.1M | $368.1M | ||
| Q1 25 | — | $301.2M | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $304.7M | ||
| Q2 24 | — | $425.6M |
自由现金流DECSBAC
| Q1 26 | — | — | ||
| Q4 25 | $280.0M | $833.3M | ||
| Q3 25 | — | $258.0M | ||
| Q2 25 | — | $312.2M | ||
| Q1 25 | — | $255.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $239.9M | ||
| Q2 24 | — | $375.6M |
自由现金流率DECSBAC
| Q1 26 | — | — | ||
| Q4 25 | 42.0% | 115.8% | ||
| Q3 25 | — | 35.2% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 38.4% | ||
| Q4 24 | — | 179.9% | ||
| Q3 24 | — | 35.9% | ||
| Q2 24 | — | 56.9% |
资本支出强度DECSBAC
| Q1 26 | — | 9.5% | ||
| Q4 25 | 27.7% | 63.7% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | — | 8.0% | ||
| Q1 25 | — | 7.0% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 7.6% |
现金转化率DECSBAC
| Q1 26 | — | 1.38× | ||
| Q4 25 | 2.38× | 3.49× | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | 0.89× | 1.63× | ||
| Q1 25 | — | 1.36× | ||
| Q4 24 | — | 7.47× | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 2.61× |
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
SBAC
| Site leasing | $656.1M | 93% |
| Site development | $47.3M | 7% |
