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DTE Energy（DTE）与MARKEL GROUP INC.（MKL）财务数据对比。点击上方公司名可切换其他公司
DTE Energy的季度营收约是MARKEL GROUP INC.的1.2倍（$4.4B vs $3.6B），MARKEL GROUP INC.净利率更高（16.1% vs 8.3%，领先7.8%），DTE Energy同比增速更快（28.9% vs -6.9%），过去两年DTE Energy的营收复合增速更高（16.9% vs -10.5%）
DTE Energy是总部位于美国底特律的多元化能源企业，业务范围覆盖美国和加拿大，专注于能源相关业务及服务的开发与运营。旗下运营板块包括密歇根州的电力及天然气公用事业公司，分别服务220万和130万用户。
Markel集团是总部位于美国弗吉尼亚州里士满的综合性企业集团，1930年最初以保险公司的身份创立，发展至今业务已覆盖保险承保、投资管理等多个板块，在全球相关行业拥有较高的市场知名度与稳定的合作网络。
DTE vs MKL — 直观对比
营收规模更大
DTE
是对方的1.2倍
$3.6B
营收增速更快
DTE
高出35.7%
-6.9%
净利率更高
MKL
高出7.8%
8.3%
两年增速更快
DTE
近两年复合增速
-10.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.4B | $3.6B |
| 净利润 | $369.0M | $576.8M |
| 毛利率 | — | — |
| 营业利润率 | 15.9% | 22.2% |
| 净利率 | 8.3% | 16.1% |
| 营收同比 | 28.9% | -6.9% |
| 净利润同比 | 26.4% | 5.0% |
| 每股收益（稀释后） | $1.78 | $48.22 |
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DTEMKL
| Q4 25 | $4.4B | $3.6B | ||
| Q3 25 | $3.5B | $3.9B | ||
| Q2 25 | $3.4B | $4.6B | ||
| Q1 25 | $4.4B | $3.4B | ||
| Q4 24 | $3.4B | $3.8B | ||
| Q3 24 | $2.9B | $4.6B | ||
| Q2 24 | $2.9B | $3.7B | ||
| Q1 24 | $3.2B | $4.5B |
净利润DTEMKL
| Q4 25 | $369.0M | $576.8M | ||
| Q3 25 | $419.0M | $751.3M | ||
| Q2 25 | $229.0M | $657.1M | ||
| Q1 25 | $445.0M | $121.7M | ||
| Q4 24 | $292.0M | $549.2M | ||
| Q3 24 | $477.0M | $905.0M | ||
| Q2 24 | $322.0M | $267.7M | ||
| Q1 24 | $313.0M | $1.0B |
营业利润率DTEMKL
| Q4 25 | 15.9% | 22.2% | ||
| Q3 25 | 17.6% | 25.7% | ||
| Q2 25 | 12.5% | 24.1% | ||
| Q1 25 | 14.1% | 8.3% | ||
| Q4 24 | 16.2% | 15.5% | ||
| Q3 24 | 17.8% | 29.7% | ||
| Q2 24 | 17.5% | 11.1% | ||
| Q1 24 | 16.0% | 29.9% |
净利率DTEMKL
| Q4 25 | 8.3% | 16.1% | ||
| Q3 25 | 11.9% | 19.1% | ||
| Q2 25 | 6.7% | 14.3% | ||
| Q1 25 | 10.0% | 3.6% | ||
| Q4 24 | 8.5% | 14.3% | ||
| Q3 24 | 16.4% | 19.6% | ||
| Q2 24 | 11.2% | 7.2% | ||
| Q1 24 | 9.7% | 23.0% |
每股收益（稀释后）DTEMKL
| Q4 25 | $1.78 | $48.22 | ||
| Q3 25 | $2.01 | $59.25 | ||
| Q2 25 | $1.10 | $49.67 | ||
| Q1 25 | $2.14 | $12.08 | ||
| Q4 24 | $1.41 | $39.02 | ||
| Q3 24 | $2.30 | $66.25 | ||
| Q2 24 | $1.55 | $18.62 | ||
| Q1 24 | $1.51 | $75.43 |
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 | $208.0M | $4.0B |
| 总债务越低越好 | $23.8B | $4.3B |
| 股东权益账面价值 | $12.3B | $18.6B |
| 总资产 | $54.1B | $68.9B |
| 负债/权益比越低杠杆越低 | 1.93× | 0.23× |
8季度趋势，按日历期对齐
现金及短期投资DTEMKL
| Q4 25 | $208.0M | $4.0B | ||
| Q3 25 | $34.0M | $4.0B | ||
| Q2 25 | $32.0M | $3.7B | ||
| Q1 25 | $33.0M | $4.2B | ||
| Q4 24 | $24.0M | $3.7B | ||
| Q3 24 | $969.0M | $3.9B | ||
| Q2 24 | $20.0M | $3.5B | ||
| Q1 24 | $292.0M | $3.6B |
总债务DTEMKL
| Q4 25 | $23.8B | $4.3B | ||
| Q3 25 | $24.5B | $4.3B | ||
| Q2 25 | $22.9B | $4.4B | ||
| Q1 25 | $21.8B | $4.4B | ||
| Q4 24 | $20.7B | $4.3B | ||
| Q3 24 | $20.5B | $4.4B | ||
| Q2 24 | $19.3B | $4.4B | ||
| Q1 24 | $19.2B | $3.9B |
股东权益DTEMKL
| Q4 25 | $12.3B | $18.6B | ||
| Q3 25 | $12.2B | $18.0B | ||
| Q2 25 | $11.7B | $17.3B | ||
| Q1 25 | $11.9B | $17.1B | ||
| Q4 24 | $11.7B | $16.9B | ||
| Q3 24 | $11.6B | $17.0B | ||
| Q2 24 | $11.1B | $15.9B | ||
| Q1 24 | $11.2B | $15.7B |
总资产DTEMKL
| Q4 25 | $54.1B | $68.9B | ||
| Q3 25 | $52.0B | $67.4B | ||
| Q2 25 | $50.2B | $66.8B | ||
| Q1 25 | $49.6B | $64.6B | ||
| Q4 24 | $48.8B | $61.9B | ||
| Q3 24 | $49.8B | $62.3B | ||
| Q2 24 | $47.8B | $59.7B | ||
| Q1 24 | $45.9B | $57.3B |
负债/权益比DTEMKL
| Q4 25 | 1.93× | 0.23× | ||
| Q3 25 | 2.01× | 0.24× | ||
| Q2 25 | 1.96× | 0.25× | ||
| Q1 25 | 1.83× | 0.26× | ||
| Q4 24 | 1.77× | 0.26× | ||
| Q3 24 | 1.76× | 0.26× | ||
| Q2 24 | 1.74× | 0.28× | ||
| Q1 24 | 1.72× | 0.25× |
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 | $1.0B | $662.2M |
| 自由现金流经营现金流 - 资本支出 | — | $599.1M |
| 自由现金流率自由现金流/营收 | — | 16.7% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | 2.84× | 1.15× |
| 过去12个月自由现金流最近4个季度 | — | $2.6B |
8季度趋势，按日历期对齐
经营现金流DTEMKL
| Q4 25 | $1.0B | $662.2M | ||
| Q3 25 | $632.0M | $1.2B | ||
| Q2 25 | $709.0M | $504.4M | ||
| Q1 25 | $1.0B | $376.2M | ||
| Q4 24 | $1.1B | $493.9M | ||
| Q3 24 | $758.0M | $890.8M | ||
| Q2 24 | $759.0M | $578.6M | ||
| Q1 24 | $1.0B | $630.7M |
自由现金流DTEMKL
| Q4 25 | — | $599.1M | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $453.8M | ||
| Q1 25 | — | $335.5M | ||
| Q4 24 | — | $420.0M | ||
| Q3 24 | — | $838.9M | ||
| Q2 24 | — | $521.4M | ||
| Q1 24 | — | $558.7M |
自由现金流率DTEMKL
| Q4 25 | — | 16.7% | ||
| Q3 25 | — | 29.6% | ||
| Q2 25 | — | 9.9% | ||
| Q1 25 | — | 9.9% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | — | 18.2% | ||
| Q2 24 | — | 14.1% | ||
| Q1 24 | — | 12.5% |
资本支出强度DTEMKL
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.6% |
现金转化率DTEMKL
| Q4 25 | 2.84× | 1.15× | ||
| Q3 25 | 1.51× | 1.62× | ||
| Q2 25 | 3.10× | 0.77× | ||
| Q1 25 | 2.29× | 3.09× | ||
| Q4 24 | 3.71× | 0.90× | ||
| Q3 24 | 1.59× | 0.98× | ||
| Q2 24 | 2.36× | 2.16× | ||
| Q1 24 | 3.33× | 0.62× |
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
DTE
| Electric Segment | $1.8B | 40% |
| Residential | $723.0M | 16% |
| Gas Segment | $651.0M | 15% |
| Commercial | $524.0M | 12% |
| Other | $333.0M | 8% |
| DTE Vantage Segment | $176.0M | 4% |
| Industrial | $159.0M | 4% |
| End User Transportation | $69.0M | 2% |
| Intermediate Transportation | $25.0M | 1% |
MKL
| Industrial | $1.6B | 45% |
| Consumer And Other | $958.3M | 27% |
| Financial | $737.0M | 21% |
| Other | $198.8M | 6% |
| Corporate Operations | $52.0M | 1% |
| Revenue From Contract With Customer | $10.5M | 0% |
