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ENBRIDGE INC（ENB）与慧与（HPE）财务数据对比。点击上方公司名可切换其他公司
慧与的季度营收约是ENBRIDGE INC的1.7倍（$9.7B vs $5.7B），ENBRIDGE INC净利率更高（26.2% vs 1.8%，领先24.4%），慧与同比增速更快（14.4% vs 5.3%），ENBRIDGE INC自由现金流更多（$2.4B vs $1.8B），过去两年慧与的营收复合增速更高（19.7% vs 7.6%）
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。
慧与（Hewlett Packard Enterprise，简称HPE）是总部位于美国得克萨斯州斯普林的跨国信息技术企业，面向企业客户提供服务器、存储、网络、容器化软件及配套咨询与技术支持服务，2018年位列美国《财富》500强美国企业营收排行榜第107位。
ENB vs HPE — 直观对比
营收规模更大
HPE
是对方的1.7倍
$5.7B
营收增速更快
HPE
高出9.1%
5.3%
净利率更高
ENB
高出24.4%
1.8%
自由现金流更多
ENB
多$582.8M
$1.8B
两年增速更快
HPE
近两年复合增速
7.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $9.7B |
| 净利润 | $1.5B | $175.0M |
| 毛利率 | — | — |
| 营业利润率 | 34.7% | -0.1% |
| 净利率 | 26.2% | 1.8% |
| 营收同比 | 5.3% | 14.4% |
| 净利润同比 | 246.2% | -87.2% |
| 每股收益（稀释后） | — | $0.13 |
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ENBHPE
| Q4 25 | $5.7B | $9.7B | ||
| Q3 25 | $4.5B | $9.1B | ||
| Q2 25 | $4.8B | $7.6B | ||
| Q1 25 | $6.4B | $7.9B | ||
| Q4 24 | $5.4B | $8.5B | ||
| Q3 24 | $4.2B | $7.7B | ||
| Q2 24 | $4.3B | $7.2B | ||
| Q1 24 | $4.9B | $6.8B |
净利润ENBHPE
| Q4 25 | $1.5B | $175.0M | ||
| Q3 25 | $575.2M | $305.0M | ||
| Q2 25 | $1.7B | $-1.1B | ||
| Q1 25 | $1.7B | $627.0M | ||
| Q4 24 | $434.4M | $1.4B | ||
| Q3 24 | $1.0B | $512.0M | ||
| Q2 24 | $1.4B | $314.0M | ||
| Q1 24 | $1.1B | $387.0M |
毛利率ENBHPE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 26.2% | — |
营业利润率ENBHPE
| Q4 25 | 34.7% | -0.1% | ||
| Q3 25 | 36.9% | 2.7% | ||
| Q2 25 | 35.1% | -14.5% | ||
| Q1 25 | 41.7% | 5.5% | ||
| Q4 24 | 32.8% | 8.2% | ||
| Q3 24 | 38.7% | 7.1% | ||
| Q2 24 | 38.3% | 5.9% | ||
| Q1 24 | 40.0% | 7.8% |
净利率ENBHPE
| Q4 25 | 26.2% | 1.8% | ||
| Q3 25 | 12.8% | 3.3% | ||
| Q2 25 | 34.9% | -13.8% | ||
| Q1 25 | 26.8% | 8.0% | ||
| Q4 24 | 8.0% | 16.2% | ||
| Q3 24 | 24.3% | 6.6% | ||
| Q2 24 | 32.8% | 4.4% | ||
| Q1 24 | 22.3% | 5.7% |
每股收益（稀释后）ENBHPE
| Q4 25 | — | $0.13 | ||
| Q3 25 | — | $0.21 | ||
| Q2 25 | — | $-0.82 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | — | $1.02 | ||
| Q3 24 | — | $0.38 | ||
| Q2 24 | — | $0.24 | ||
| Q1 24 | — | $0.29 |
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 | $5.8B |
| 总债务越低越好 | $72.2B | $17.8B |
| 股东权益账面价值 | $45.5B | $24.7B |
| 总资产 | $159.5B | $75.9B |
| 负债/权益比越低杠杆越低 | 1.59× | 0.72× |
8季度趋势，按日历期对齐
现金及短期投资ENBHPE
| Q4 25 | $798.6M | $5.8B | ||
| Q3 25 | $1.0B | $4.6B | ||
| Q2 25 | $878.2M | $11.7B | ||
| Q1 25 | $1.5B | $13.4B | ||
| Q4 24 | $1.3B | $14.8B | ||
| Q3 24 | $1.4B | $3.6B | ||
| Q2 24 | $2.6B | $2.7B | ||
| Q1 24 | $886.2M | $3.8B |
总债务ENBHPE
| Q4 25 | $72.2B | $17.8B | ||
| Q3 25 | $73.4B | $16.9B | ||
| Q2 25 | $70.8B | $12.4B | ||
| Q1 25 | $70.9B | $13.3B | ||
| Q4 24 | $68.2B | $13.5B | ||
| Q3 24 | $63.7B | $7.9B | ||
| Q2 24 | $62.2B | $7.5B | ||
| Q1 24 | $59.4B | $7.8B |
股东权益ENBHPE
| Q4 25 | $45.5B | $24.7B | ||
| Q3 25 | $47.6B | $24.4B | ||
| Q2 25 | $47.8B | $23.9B | ||
| Q1 25 | $49.8B | $25.2B | ||
| Q4 24 | $48.1B | $24.8B | ||
| Q3 24 | $48.0B | $22.1B | ||
| Q2 24 | $49.1B | $21.7B | ||
| Q1 24 | $46.9B | $21.4B |
总资产ENBHPE
| Q4 25 | $159.5B | $75.9B | ||
| Q3 25 | $158.4B | $77.3B | ||
| Q2 25 | $154.5B | $67.9B | ||
| Q1 25 | $160.6B | $70.3B | ||
| Q4 24 | $159.9B | $71.3B | ||
| Q3 24 | $150.2B | $60.9B | ||
| Q2 24 | $146.9B | $59.7B | ||
| Q1 24 | $139.2B | $58.6B |
负债/权益比ENBHPE
| Q4 25 | 1.59× | 0.72× | ||
| Q3 25 | 1.54× | 0.69× | ||
| Q2 25 | 1.48× | 0.52× | ||
| Q1 25 | 1.42× | 0.53× | ||
| Q4 24 | 1.42× | 0.54× | ||
| Q3 24 | 1.33× | 0.36× | ||
| Q2 24 | 1.27× | 0.35× | ||
| Q1 24 | 1.27× | 0.37× |
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 | $2.5B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $1.8B |
| 自由现金流率自由现金流/营收 | 42.0% | 18.8% |
| 资本支出强度资本支出/营收 | 114.3% | 6.6% |
| 现金转化率经营现金流/净利润 | 5.96× | 14.09× |
| 过去12个月自由现金流最近4个季度 | — | $627.0M |
8季度趋势，按日历期对齐
经营现金流ENBHPE
| Q4 25 | $9.0B | $2.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $-461.0M | ||
| Q1 25 | $2.2B | $-390.0M | ||
| Q4 24 | $9.2B | $2.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | $2.3B | $64.0M |
自由现金流ENBHPE
| Q4 25 | $2.4B | $1.8B | ||
| Q3 25 | — | $729.0M | ||
| Q2 25 | — | $-1.0B | ||
| Q1 25 | $970.9M | $-918.0M | ||
| Q4 24 | $4.3B | $1.4B | ||
| Q3 24 | — | $611.0M | ||
| Q2 24 | — | $533.0M | ||
| Q1 24 | $1.4B | $-592.0M |
自由现金流率ENBHPE
| Q4 25 | 42.0% | 18.8% | ||
| Q3 25 | — | 8.0% | ||
| Q2 25 | — | -13.2% | ||
| Q1 25 | 15.1% | -11.7% | ||
| Q4 24 | 79.0% | 16.8% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | 29.0% | -8.8% |
资本支出强度ENBHPE
| Q4 25 | 114.3% | 6.6% | ||
| Q3 25 | — | 6.3% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | 19.6% | 6.7% | ||
| Q4 24 | 90.1% | 7.2% | ||
| Q3 24 | — | 7.0% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | 17.5% | 9.7% |
现金转化率ENBHPE
| Q4 25 | 5.96× | 14.09× | ||
| Q3 25 | — | 4.28× | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.29× | -0.62× | ||
| Q4 24 | 21.18× | 1.49× | ||
| Q3 24 | — | 2.25× | ||
| Q2 24 | — | 3.48× | ||
| Q1 24 | 2.08× | 0.17× |
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
ENB
暂无分部数据
HPE
| Products | $6.2B | 64% |
| Services | $3.3B | 34% |
| Other | $199.0M | 2% |
