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ENBRIDGE INC（ENB）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
ENBRIDGE INC的季度营收约是皇家加勒比集团的1.3倍（$5.7B vs $4.3B），ENBRIDGE INC净利率更高（26.2% vs 17.7%，领先8.6%），皇家加勒比集团同比增速更快（13.3% vs 5.3%），ENBRIDGE INC自由现金流更多（$2.4B vs $116.0M），过去两年ENBRIDGE INC的营收复合增速更高（7.6% vs 6.9%）
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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
ENB vs RCL — 直观对比
营收规模更大
ENB
是对方的1.3倍
$4.3B
营收增速更快
RCL
高出7.9%
5.3%
净利率更高
ENB
高出8.6%
17.7%
自由现金流更多
ENB
多$2.3B
$116.0M
两年增速更快
ENB
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $4.3B |
| 净利润 | $1.5B | $753.0M |
| 毛利率 | — | 47.4% |
| 营业利润率 | 34.7% | 21.9% |
| 净利率 | 26.2% | 17.7% |
| 营收同比 | 5.3% | 13.3% |
| 净利润同比 | 246.2% | 36.4% |
| 每股收益（稀释后） | — | $2.76 |
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ENBRCL
| Q4 25 | $5.7B | $4.3B | ||
| Q3 25 | $4.5B | $5.1B | ||
| Q2 25 | $4.8B | $4.5B | ||
| Q1 25 | $6.4B | $4.0B | ||
| Q4 24 | $5.4B | $3.8B | ||
| Q3 24 | $4.2B | $4.9B | ||
| Q2 24 | $4.3B | $4.1B | ||
| Q1 24 | $4.9B | $3.7B |
净利润ENBRCL
| Q4 25 | $1.5B | $753.0M | ||
| Q3 25 | $575.2M | $1.6B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.7B | $730.0M | ||
| Q4 24 | $434.4M | $552.0M | ||
| Q3 24 | $1.0B | $1.1B | ||
| Q2 24 | $1.4B | $854.0M | ||
| Q1 24 | $1.1B | $360.0M |
毛利率ENBRCL
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | 7.5% | 47.6% | ||
| Q1 24 | 26.2% | 44.8% |
营业利润率ENBRCL
| Q4 25 | 34.7% | 21.9% | ||
| Q3 25 | 36.9% | 33.1% | ||
| Q2 25 | 35.1% | 29.3% | ||
| Q1 25 | 41.7% | 23.6% | ||
| Q4 24 | 32.8% | 16.6% | ||
| Q3 24 | 38.7% | 33.4% | ||
| Q2 24 | 38.3% | 26.7% | ||
| Q1 24 | 40.0% | 20.1% |
净利率ENBRCL
| Q4 25 | 26.2% | 17.7% | ||
| Q3 25 | 12.8% | 30.6% | ||
| Q2 25 | 34.9% | 26.7% | ||
| Q1 25 | 26.8% | 18.3% | ||
| Q4 24 | 8.0% | 14.7% | ||
| Q3 24 | 24.3% | 22.7% | ||
| Q2 24 | 32.8% | 20.8% | ||
| Q1 24 | 22.3% | 9.7% |
每股收益（稀释后）ENBRCL
| Q4 25 | — | $2.76 | ||
| Q3 25 | — | $5.74 | ||
| Q2 25 | — | $4.41 | ||
| Q1 25 | — | $2.70 | ||
| Q4 24 | — | $2.27 | ||
| Q3 24 | — | $4.21 | ||
| Q2 24 | — | $3.11 | ||
| Q1 24 | — | $1.35 |
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 | $825.0M |
| 总债务越低越好 | $72.2B | $18.2B |
| 股东权益账面价值 | $45.5B | $10.0B |
| 总资产 | $159.5B | $41.6B |
| 负债/权益比越低杠杆越低 | 1.59× | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资ENBRCL
| Q4 25 | $798.6M | $825.0M | ||
| Q3 25 | $1.0B | $432.0M | ||
| Q2 25 | $878.2M | $735.0M | ||
| Q1 25 | $1.5B | $386.0M | ||
| Q4 24 | $1.3B | $388.0M | ||
| Q3 24 | $1.4B | $418.0M | ||
| Q2 24 | $2.6B | $391.0M | ||
| Q1 24 | $886.2M | $437.0M |
总债务ENBRCL
| Q4 25 | $72.2B | $18.2B | ||
| Q3 25 | $73.4B | $17.2B | ||
| Q2 25 | $70.8B | $17.6B | ||
| Q1 25 | $70.9B | $18.0B | ||
| Q4 24 | $68.2B | $18.5B | ||
| Q3 24 | $63.7B | $19.0B | ||
| Q2 24 | $62.2B | $19.8B | ||
| Q1 24 | $59.4B | $18.9B |
股东权益ENBRCL
| Q4 25 | $45.5B | $10.0B | ||
| Q3 25 | $47.6B | $10.1B | ||
| Q2 25 | $47.8B | $9.2B | ||
| Q1 25 | $49.8B | $8.0B | ||
| Q4 24 | $48.1B | $7.6B | ||
| Q3 24 | $48.0B | $7.0B | ||
| Q2 24 | $49.1B | $6.0B | ||
| Q1 24 | $46.9B | $5.2B |
总资产ENBRCL
| Q4 25 | $159.5B | $41.6B | ||
| Q3 25 | $158.4B | $40.1B | ||
| Q2 25 | $154.5B | $38.5B | ||
| Q1 25 | $160.6B | $37.5B | ||
| Q4 24 | $159.9B | $37.1B | ||
| Q3 24 | $150.2B | $37.1B | ||
| Q2 24 | $146.9B | $37.0B | ||
| Q1 24 | $139.2B | $35.2B |
负债/权益比ENBRCL
| Q4 25 | 1.59× | 1.81× | ||
| Q3 25 | 1.54× | 1.70× | ||
| Q2 25 | 1.48× | 1.92× | ||
| Q1 25 | 1.42× | 2.26× | ||
| Q4 24 | 1.42× | 2.44× | ||
| Q3 24 | 1.33× | 2.69× | ||
| Q2 24 | 1.27× | 3.29× | ||
| Q1 24 | 1.27× | 3.66× |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $116.0M |
| 自由现金流率自由现金流/营收 | 42.0% | 2.7% |
| 资本支出强度资本支出/营收 | 114.3% | 35.4% |
| 现金转化率经营现金流/净利润 | 5.96× | 2.16× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流ENBRCL
| Q4 25 | $9.0B | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | $2.2B | $1.6B | ||
| Q4 24 | $9.2B | $1.5B | ||
| Q3 24 | — | $897.0M | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $2.3B | $1.3B |
自由现金流ENBRCL
| Q4 25 | $2.4B | $116.0M | ||
| Q3 25 | — | $-989.0M | ||
| Q2 25 | — | $910.0M | ||
| Q1 25 | $970.9M | $1.2B | ||
| Q4 24 | $4.3B | $915.0M | ||
| Q3 24 | — | $563.0M | ||
| Q2 24 | — | $-567.0M | ||
| Q1 24 | $1.4B | $1.1B |
自由现金流率ENBRCL
| Q4 25 | 42.0% | 2.7% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | 20.1% | ||
| Q1 25 | 15.1% | 30.0% | ||
| Q4 24 | 79.0% | 24.3% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | -13.8% | ||
| Q1 24 | 29.0% | 29.1% |
资本支出强度ENBRCL
| Q4 25 | 114.3% | 35.4% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | 19.6% | 10.7% | ||
| Q4 24 | 90.1% | 14.7% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 52.1% | ||
| Q1 24 | 17.5% | 6.5% |
现金转化率ENBRCL
| Q4 25 | 5.96× | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 1.44× | ||
| Q1 25 | 1.29× | 2.23× | ||
| Q4 24 | 21.18× | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 1.84× | ||
| Q1 24 | 2.08× | 3.69× |
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
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
