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杜克能源（DUK）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
杜克能源的季度营收约是Smurfit Westrock的1.0倍（$7.8B vs $7.6B），杜克能源净利率更高（15.2% vs 1.3%，领先14.0%），杜克能源同比增速更快（7.4% vs 0.5%），Smurfit Westrock自由现金流更多（$612.0M vs $-485.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 1.6%）
杜克能源是总部位于美国北卡罗来纳州夏洛特的电力及天然气控股企业，服务范围覆盖美国东部地区，客户总量超700万。2024年该企业位列美国财富500强第141位，创下其在该榜单的历史最高排名。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
DUK vs SW — 直观对比
营收规模更大
DUK
是对方的1.0倍
$7.6B
营收增速更快
DUK
高出6.8%
0.5%
净利率更高
DUK
高出14.0%
1.3%
自由现金流更多
SW
多$1.1B
$-485.0M
两年增速更快
SW
近两年复合增速
1.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.8B | $7.6B |
| 净利润 | $1.2B | $97.0M |
| 毛利率 | — | 18.2% |
| 营业利润率 | 27.3% | 5.1% |
| 净利率 | 15.2% | 1.3% |
| 营收同比 | 7.4% | 0.5% |
| 净利润同比 | -1.7% | -33.6% |
| 每股收益（稀释后） | $1.49 | $0.18 |
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DUKSW
| Q4 25 | $7.8B | $7.6B | ||
| Q3 25 | $8.4B | $8.0B | ||
| Q2 25 | $7.4B | $7.9B | ||
| Q1 25 | $8.2B | $7.7B | ||
| Q4 24 | $7.2B | $7.5B | ||
| Q3 24 | $8.1B | $7.7B | ||
| Q2 24 | $7.2B | $3.0B | ||
| Q1 24 | $7.5B | $2.9B |
净利润DUKSW
| Q4 25 | $1.2B | $97.0M | ||
| Q3 25 | $1.4B | $246.0M | ||
| Q2 25 | $984.0M | $-28.0M | ||
| Q1 25 | $1.4B | $384.0M | ||
| Q4 24 | $1.2B | $146.0M | ||
| Q3 24 | $1.3B | $-150.0M | ||
| Q2 24 | $900.0M | $132.0M | ||
| Q1 24 | $1.1B | $191.0M |
毛利率DUKSW
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% | ||
| Q1 24 | — | 24.2% |
营业利润率DUKSW
| Q4 25 | 27.3% | 5.1% | ||
| Q3 25 | 27.9% | 6.6% | ||
| Q2 25 | 24.8% | 3.2% | ||
| Q1 25 | 28.5% | 7.2% | ||
| Q4 24 | 29.2% | 5.3% | ||
| Q3 24 | 26.4% | 0.7% | ||
| Q2 24 | 23.9% | 8.2% | ||
| Q1 24 | 26.1% | 10.5% |
净利率DUKSW
| Q4 25 | 15.2% | 1.3% | ||
| Q3 25 | 17.0% | 3.1% | ||
| Q2 25 | 13.3% | -0.4% | ||
| Q1 25 | 16.8% | 5.0% | ||
| Q4 24 | 16.6% | 1.9% | ||
| Q3 24 | 15.8% | -2.0% | ||
| Q2 24 | 12.6% | 4.4% | ||
| Q1 24 | 15.1% | 6.5% |
每股收益（稀释后）DUKSW
| Q4 25 | $1.49 | $0.18 | ||
| Q3 25 | $1.81 | $0.47 | ||
| Q2 25 | $1.25 | $-0.05 | ||
| Q1 25 | $1.76 | $0.73 | ||
| Q4 24 | $1.54 | $-0.12 | ||
| Q3 24 | $1.60 | $-0.30 | ||
| Q2 24 | $1.13 | $0.51 | ||
| Q1 24 | $1.44 | $0.73 |
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 | $245.0M | $892.0M |
| 总债务越低越好 | $80.1B | $13.4B |
| 股东权益账面价值 | $51.8B | $18.3B |
| 总资产 | $195.7B | $45.2B |
| 负债/权益比越低杠杆越低 | 1.55× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资DUKSW
| Q4 25 | $245.0M | $892.0M | ||
| Q3 25 | $688.0M | $851.0M | ||
| Q2 25 | $344.0M | $778.0M | ||
| Q1 25 | $475.0M | $797.0M | ||
| Q4 24 | $314.0M | $855.0M | ||
| Q3 24 | $376.0M | — | ||
| Q2 24 | $390.0M | $26.8K | ||
| Q1 24 | $459.0M | $108 |
总债务DUKSW
| Q4 25 | $80.1B | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | $76.3B | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DUKSW
| Q4 25 | $51.8B | $18.3B | ||
| Q3 25 | $51.5B | $18.4B | ||
| Q2 25 | $50.9B | $18.3B | ||
| Q1 25 | $50.7B | $17.9B | ||
| Q4 24 | $50.1B | $17.4B | ||
| Q3 24 | $49.1B | $18.0B | ||
| Q2 24 | $49.7B | $14.5K | ||
| Q1 24 | $49.6B | $108 |
总资产DUKSW
| Q4 25 | $195.7B | $45.2B | ||
| Q3 25 | $192.3B | $45.6B | ||
| Q2 25 | $189.7B | $45.7B | ||
| Q1 25 | $187.5B | $44.6B | ||
| Q4 24 | $186.3B | $43.8B | ||
| Q3 24 | $183.6B | $45.0B | ||
| Q2 24 | $181.6B | $26.8K | ||
| Q1 24 | $178.7B | $108 |
负债/权益比DUKSW
| Q4 25 | 1.55× | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | 1.52× | 0.72× | ||
| Q3 24 | — | 0.73× | ||
| 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 | $3.7B | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $-485.0M | $612.0M |
| 自由现金流率自由现金流/营收 | -6.2% | 8.1% |
| 资本支出强度资本支出/营收 | 53.3% | 7.7% |
| 现金转化率经营现金流/净利润 | 3.09× | 12.32× |
| 过去12个月自由现金流最近4个季度 | $-1.7B | $1.2B |
8季度趋势，按日历期对齐
经营现金流DUKSW
| Q4 25 | $3.7B | $1.2B | ||
| Q3 25 | $3.6B | $1.1B | ||
| Q2 25 | $2.9B | $829.0M | ||
| Q1 25 | $2.2B | $235.0M | ||
| Q4 24 | $3.4B | $781.0M | ||
| Q3 24 | $3.5B | $320.0M | ||
| Q2 24 | $3.0B | $340.0M | ||
| Q1 24 | $2.5B | $42.0M |
自由现金流DUKSW
| Q4 25 | $-485.0M | $612.0M | ||
| Q3 25 | $179.0M | $523.0M | ||
| Q2 25 | $-417.0M | $307.0M | ||
| Q1 25 | $-971.0M | $-242.0M | ||
| Q4 24 | $288.0M | $212.0M | ||
| Q3 24 | $537.0M | $-192.0M | ||
| Q2 24 | $-43.0M | $163.0M | ||
| Q1 24 | $-734.0M | $-166.0M |
自由现金流率DUKSW
| Q4 25 | -6.2% | 8.1% | ||
| Q3 25 | 2.1% | 6.5% | ||
| Q2 25 | -5.7% | 3.9% | ||
| Q1 25 | -11.8% | -3.2% | ||
| Q4 24 | 4.0% | 2.8% | ||
| Q3 24 | 6.6% | -2.5% | ||
| Q2 24 | -0.6% | 5.5% | ||
| Q1 24 | -9.7% | -5.7% |
资本支出强度DUKSW
| Q4 25 | 53.3% | 7.7% | ||
| Q3 25 | 41.2% | 7.6% | ||
| Q2 25 | 44.5% | 6.6% | ||
| Q1 25 | 38.3% | 6.2% | ||
| Q4 24 | 42.7% | 7.5% | ||
| Q3 24 | 36.8% | 6.7% | ||
| Q2 24 | 41.9% | 6.0% | ||
| Q1 24 | 42.6% | 7.1% |
现金转化率DUKSW
| Q4 25 | 3.09× | 12.32× | ||
| Q3 25 | 2.56× | 4.61× | ||
| Q2 25 | 2.91× | — | ||
| Q1 25 | 1.58× | 0.61× | ||
| Q4 24 | 2.80× | 5.35× | ||
| Q3 24 | 2.75× | — | ||
| Q2 24 | 3.28× | 2.58× | ||
| Q1 24 | 2.17× | 0.22× |
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
DUK
| Electric Utilitiesand Infrastructure | $7.0B | 90% |
| Other Revenues | $741.0M | 10% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
