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ENBRIDGE INC（ENB）与Exelon（EXC）财务数据对比。点击上方公司名可切换其他公司
ENBRIDGE INC的季度营收约是Exelon的1.1倍（$5.7B vs $5.4B），ENBRIDGE INC同比增速更快（5.3% vs -19.4%），过去两年ENBRIDGE INC的营收复合增速更高（7.6% vs 0.5%）
加拿大恩布里奇公司（Enbridge Inc.）是总部位于阿尔伯塔省卡尔加里的跨国能源管道企业，在加拿大、美国运营管网输送原油、天然气及天然气液，同时布局可再生能源业务。其管网是北美最长、全球规模最大的原油出口管网，拥有近2.9万公里原油管道及超3.83万公里天然气管道。
Exelon是总部位于美国芝加哥、在宾夕法尼亚州注册的公用事业企业，按营收计算为美国最大的电力母公司，同时是美国规模最大的受监管电力公用事业公司，服务约1000万用户，位列《财富》世界500强第187位。
ENB vs EXC — 直观对比
营收规模更大
ENB
是对方的1.1倍
$5.4B
营收增速更快
ENB
高出24.7%
-19.4%
两年增速更快
ENB
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $5.4B |
| 净利润 | $1.5B | — |
| 毛利率 | — | — |
| 营业利润率 | 34.7% | 21.9% |
| 净利率 | 26.2% | — |
| 营收同比 | 5.3% | -19.4% |
| 净利润同比 | 246.2% | — |
| 每股收益（稀释后） | — | — |
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ENBEXC
| Q1 26 | — | $5.4B | ||
| Q4 25 | $5.7B | $5.4B | ||
| Q3 25 | $4.5B | $6.7B | ||
| Q2 25 | $4.8B | $5.4B | ||
| Q1 25 | $6.4B | $6.7B | ||
| Q4 24 | $5.4B | $5.5B | ||
| Q3 24 | $4.2B | $6.2B | ||
| Q2 24 | $4.3B | $5.4B |
净利润ENBEXC
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $594.0M | ||
| Q3 25 | $575.2M | $875.0M | ||
| Q2 25 | $1.7B | $391.0M | ||
| Q1 25 | $1.7B | $908.0M | ||
| Q4 24 | $434.4M | $647.0M | ||
| Q3 24 | $1.0B | $707.0M | ||
| Q2 24 | $1.4B | $448.0M |
毛利率ENBEXC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 7.5% | — |
营业利润率ENBEXC
| Q1 26 | — | 21.9% | ||
| Q4 25 | 34.7% | 21.9% | ||
| Q3 25 | 36.9% | 22.4% | ||
| Q2 25 | 35.1% | 17.1% | ||
| Q1 25 | 41.7% | 22.9% | ||
| Q4 24 | 32.8% | 20.0% | ||
| Q3 24 | 38.7% | 19.4% | ||
| Q2 24 | 38.3% | 17.0% |
净利率ENBEXC
| Q1 26 | — | — | ||
| Q4 25 | 26.2% | 11.0% | ||
| Q3 25 | 12.8% | 13.0% | ||
| Q2 25 | 34.9% | 7.2% | ||
| Q1 25 | 26.8% | 13.5% | ||
| Q4 24 | 8.0% | 11.8% | ||
| Q3 24 | 24.3% | 11.5% | ||
| Q2 24 | 32.8% | 8.4% |
每股收益（稀释后）ENBEXC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $0.86 | ||
| Q2 25 | — | $0.39 | ||
| Q1 25 | — | $0.90 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0.70 | ||
| Q2 24 | — | $0.45 |
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 | $798.6M | $626.0M |
| 总债务越低越好 | $72.2B | $49.4B |
| 股东权益账面价值 | $45.5B | $28.8B |
| 总资产 | $159.5B | $116.6B |
| 负债/权益比越低杠杆越低 | 1.59× | 1.72× |
8季度趋势，按日历期对齐
现金及短期投资ENBEXC
| Q1 26 | — | $626.0M | ||
| Q4 25 | $798.6M | $626.0M | ||
| Q3 25 | $1.0B | $1.5B | ||
| Q2 25 | $878.2M | $724.0M | ||
| Q1 25 | $1.5B | $1.0B | ||
| Q4 24 | $1.3B | $357.0M | ||
| Q3 24 | $1.4B | $616.0M | ||
| Q2 24 | $2.6B | $934.0M |
总债务ENBEXC
| Q1 26 | — | $49.4B | ||
| Q4 25 | $72.2B | $49.4B | ||
| Q3 25 | $73.4B | — | ||
| Q2 25 | $70.8B | — | ||
| Q1 25 | $70.9B | — | ||
| Q4 24 | $68.2B | $44.7B | ||
| Q3 24 | $63.7B | — | ||
| Q2 24 | $62.2B | — |
股东权益ENBEXC
| Q1 26 | — | $28.8B | ||
| Q4 25 | $45.5B | $28.8B | ||
| Q3 25 | $47.6B | $28.1B | ||
| Q2 25 | $47.8B | $27.6B | ||
| Q1 25 | $49.8B | $27.6B | ||
| Q4 24 | $48.1B | $26.9B | ||
| Q3 24 | $48.0B | $26.6B | ||
| Q2 24 | $49.1B | $26.2B |
总资产ENBEXC
| Q1 26 | — | $116.6B | ||
| Q4 25 | $159.5B | $116.6B | ||
| Q3 25 | $158.4B | $113.5B | ||
| Q2 25 | $154.5B | $111.1B | ||
| Q1 25 | $160.6B | $109.5B | ||
| Q4 24 | $159.9B | $107.8B | ||
| Q3 24 | $150.2B | $106.1B | ||
| Q2 24 | $146.9B | $105.1B |
负债/权益比ENBEXC
| Q1 26 | — | 1.72× | ||
| Q4 25 | 1.59× | 1.72× | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 1.42× | — | ||
| Q4 24 | 1.42× | 1.66× | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.27× | — |
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 | $9.0B | — |
| 自由现金流经营现金流 - 资本支出 | $2.4B | — |
| 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 | 114.3% | — |
| 现金转化率经营现金流/净利润 | 5.96× | — |
| 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ENBEXC
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $1.2B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $9.2B | $1.4B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.5B |
自由现金流ENBEXC
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | $-1.2B | ||
| Q3 25 | — | $163.0M | ||
| Q2 25 | — | $-502.0M | ||
| Q1 25 | $970.9M | $-746.0M | ||
| Q4 24 | $4.3B | $-510.0M | ||
| Q3 24 | — | $-6.0M | ||
| Q2 24 | — | $-237.0M |
自由现金流率ENBEXC
| Q1 26 | — | — | ||
| Q4 25 | 42.0% | -22.0% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | -9.3% | ||
| Q1 25 | 15.1% | -11.1% | ||
| Q4 24 | 79.0% | -9.3% | ||
| Q3 24 | — | -0.1% | ||
| Q2 24 | — | -4.4% |
资本支出强度ENBEXC
| Q1 26 | — | — | ||
| Q4 25 | 114.3% | 45.0% | ||
| Q3 25 | — | 31.9% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | 19.6% | 29.0% | ||
| Q4 24 | 90.1% | 35.4% | ||
| Q3 24 | — | 27.5% | ||
| Q2 24 | — | 31.7% |
现金转化率ENBEXC
| Q1 26 | — | — | ||
| Q4 25 | 5.96× | 2.09× | ||
| Q3 25 | — | 2.63× | ||
| Q2 25 | — | 3.86× | ||
| Q1 25 | 1.29× | 1.32× | ||
| Q4 24 | 21.18× | 2.20× | ||
| Q3 24 | — | 2.39× | ||
| Q2 24 | — | 3.26× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
