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Digital Realty（DLR）与NiSource（NI）财务数据对比。点击上方公司名可切换其他公司
NiSource的季度营收约是Digital Realty的1.2倍（$1.9B vs $1.6B），NiSource净利率更高（13.7% vs 6.0%，领先7.6%），NiSource同比增速更快（22.5% vs 16.1%），过去两年Digital Realty的营收复合增速更高（9.8% vs 7.2%）
Digital Realty是一家全球知名的不动产投资信托企业，核心业务涵盖全球各地运营商中立数据中心的持有、运营与投资，可为客户提供数据中心部署、主机托管、网络互联等多元专业服务，能够满足不同企业对算力基础设施、数据存储及网络连接的多样化需求。
NiSource是美国规模最大的受全面监管公用事业企业之一，总部位于印第安纳州梅里尔维尔，员工规模超8000人。公司旗下拥有Columbia Gas、NIPSCO两大本土品牌，业务覆盖美国六个州，为约350万天然气用户、50万电力用户提供服务，2018年时是印第安纳州唯一的本土公用事业企业。
DLR vs NI — 直观对比
营收规模更大
NI
是对方的1.2倍
$1.6B
营收增速更快
NI
高出6.4%
16.1%
净利率更高
NI
高出7.6%
6.0%
两年增速更快
DLR
近两年复合增速
7.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.9B |
| 净利润 | $98.6M | $257.8M |
| 毛利率 | — | — |
| 营业利润率 | 6.9% | 27.3% |
| 净利率 | 6.0% | 13.7% |
| 营收同比 | 16.1% | 22.5% |
| 净利润同比 | -10.3% | 15.1% |
| 每股收益（稀释后） | $0.22 | $0.53 |
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DLRNI
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $1.9B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.4B | $1.5B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.4B | $1.1B |
净利润DLRNI
| Q1 26 | $98.6M | — | ||
| Q4 25 | $98.6M | $257.8M | ||
| Q3 25 | $67.8M | $94.7M | ||
| Q2 25 | $1.0B | $102.2M | ||
| Q1 25 | $110.0M | $474.8M | ||
| Q4 24 | $189.6M | $223.9M | ||
| Q3 24 | $51.2M | $85.7M | ||
| Q2 24 | $80.2M | $85.8M |
营业利润率DLRNI
| Q1 26 | 6.9% | — | ||
| Q4 25 | 6.9% | 27.3% | ||
| Q3 25 | 8.8% | 24.0% | ||
| Q2 25 | 14.2% | 21.1% | ||
| Q1 25 | 13.9% | 35.3% | ||
| Q4 24 | 10.1% | 27.1% | ||
| Q3 24 | 11.8% | 20.9% | ||
| Q2 24 | 0.7% | 22.5% |
净利率DLRNI
| Q1 26 | 6.0% | — | ||
| Q4 25 | 6.0% | 13.7% | ||
| Q3 25 | 4.3% | 7.6% | ||
| Q2 25 | 69.1% | 8.2% | ||
| Q1 25 | 7.8% | 22.1% | ||
| Q4 24 | 13.2% | 14.5% | ||
| Q3 24 | 3.6% | 8.2% | ||
| Q2 24 | 5.9% | 8.1% |
每股收益（稀释后）DLRNI
| Q1 26 | $0.22 | — | ||
| Q4 25 | $0.22 | $0.53 | ||
| Q3 25 | $0.15 | $0.20 | ||
| Q2 25 | $2.94 | $0.22 | ||
| Q1 25 | $0.27 | $1.00 | ||
| Q4 24 | $0.50 | $0.47 | ||
| Q3 24 | $0.09 | $0.19 | ||
| Q2 24 | $0.20 | $0.19 |
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 | $3.5B | $110.1M |
| 总债务越低越好 | — | $15.5B |
| 股东权益账面价值 | $22.9B | $9.5B |
| 总资产 | $49.4B | $35.9B |
| 负债/权益比越低杠杆越低 | — | 1.64× |
8季度趋势，按日历期对齐
现金及短期投资DLRNI
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $110.1M | ||
| Q3 25 | $3.3B | $95.0M | ||
| Q2 25 | $3.6B | $335.4M | ||
| Q1 25 | $2.3B | $259.4M | ||
| Q4 24 | $3.9B | $156.6M | ||
| Q3 24 | $2.2B | $126.2M | ||
| Q2 24 | $2.3B | $101.2M |
总债务DLRNI
| Q1 26 | — | — | ||
| Q4 25 | — | $15.5B | ||
| Q3 25 | — | $14.5B | ||
| Q2 25 | — | $14.5B | ||
| Q1 25 | — | $12.8B | ||
| Q4 24 | — | $12.1B | ||
| Q3 24 | — | $12.1B | ||
| Q2 24 | — | $12.8B |
股东权益DLRNI
| Q1 26 | $22.9B | — | ||
| Q4 25 | $22.9B | $9.5B | ||
| Q3 25 | $23.0B | $9.1B | ||
| Q2 25 | $22.9B | $8.9B | ||
| Q1 25 | $21.3B | $8.9B | ||
| Q4 24 | $21.3B | $8.7B | ||
| Q3 24 | $21.2B | $8.3B | ||
| Q2 24 | $20.5B | $7.9B |
总资产DLRNI
| Q1 26 | $49.4B | — | ||
| Q4 25 | $49.4B | $35.9B | ||
| Q3 25 | $48.7B | $34.4B | ||
| Q2 25 | $48.7B | $34.0B | ||
| Q1 25 | $45.1B | $33.1B | ||
| Q4 24 | $45.3B | $31.8B | ||
| Q3 24 | $45.3B | $30.8B | ||
| Q2 24 | $43.6B | $29.9B |
负债/权益比DLRNI
| Q1 26 | — | — | ||
| Q4 25 | — | 1.64× | ||
| Q3 25 | — | 1.59× | ||
| Q2 25 | — | 1.63× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 1.39× | ||
| Q3 24 | — | 1.45× | ||
| Q2 24 | — | 1.63× |
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 | — | $712.6M |
| 自由现金流经营现金流 - 资本支出 | — | $-133.7M |
| 自由现金流率自由现金流/营收 | — | -7.1% |
| 资本支出强度资本支出/营收 | — | 44.9% |
| 现金转化率经营现金流/净利润 | — | 2.76× |
| 过去12个月自由现金流最近4个季度 | — | $-420.0M |
8季度趋势，按日历期对齐
经营现金流DLRNI
| Q1 26 | — | — | ||
| Q4 25 | $719.0M | $712.6M | ||
| Q3 25 | $652.9M | $467.9M | ||
| Q2 25 | $641.2M | $495.4M | ||
| Q1 25 | $399.1M | $686.4M | ||
| Q4 24 | $769.5M | $539.8M | ||
| Q3 24 | $566.5M | $340.0M | ||
| Q2 24 | $573.2M | $445.5M |
自由现金流DLRNI
| Q1 26 | — | — | ||
| Q4 25 | — | $-133.7M | ||
| Q3 25 | — | $-172.6M | ||
| Q2 25 | — | $-162.8M | ||
| Q1 25 | — | $49.1M | ||
| Q4 24 | — | $-220.2M | ||
| Q3 24 | — | $-294.7M | ||
| Q2 24 | — | $-184.3M |
自由现金流率DLRNI
| Q1 26 | — | — | ||
| Q4 25 | — | -7.1% | ||
| Q3 25 | — | -13.9% | ||
| Q2 25 | — | -13.1% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | -14.3% | ||
| Q3 24 | — | -28.2% | ||
| Q2 24 | — | -17.5% |
资本支出强度DLRNI
| Q1 26 | — | — | ||
| Q4 25 | — | 44.9% | ||
| Q3 25 | — | 51.6% | ||
| Q2 25 | — | 52.8% | ||
| Q1 25 | — | 29.6% | ||
| Q4 24 | — | 49.4% | ||
| Q3 24 | — | 60.7% | ||
| Q2 24 | — | 59.7% |
现金转化率DLRNI
| Q1 26 | — | — | ||
| Q4 25 | 7.29× | 2.76× | ||
| Q3 25 | 9.63× | 4.94× | ||
| Q2 25 | 0.62× | 4.85× | ||
| Q1 25 | 3.63× | 1.45× | ||
| Q4 24 | 4.06× | 2.41× | ||
| Q3 24 | 11.07× | 3.97× | ||
| Q2 24 | 7.15× | 5.19× |
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
DLR
暂无分部数据
NI
| Residential | $703.6M | 37% |
| Ni Source Electric Generation And Power Delivery | $525.6M | 28% |
| NIPSCO Gas Distribution | $348.1M | 18% |
| Commercial | $235.9M | 13% |
| Industrial | $45.9M | 2% |
| Offsystem | $16.9M | 1% |
| Misc. | $9.6M | 1% |
| Related Party | $3.3M | 0% |
