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Enphase Energy（ENPH）与Essex Property Trust（ESS）财务数据对比。点击上方公司名可切换其他公司
Essex Property Trust的季度营收约是Enphase Energy的1.7倍（$479.6M vs $282.9M），Essex Property Trust净利率更高（17.9% vs -2.6%，领先20.5%），Essex Property Trust同比增速更快（5.5% vs -20.6%），过去两年Essex Property Trust的营收复合增速更高（6.0% vs -3.4%）
Enphase Energy是总部位于美国加利福尼亚州弗里蒙特的能源科技企业，成立于2006年，是全球首家成功实现光伏微型逆变器商业化的企业，主要面向住宅用户研发生产光伏微型逆变器、储能电池及电动汽车充电桩。
Essex Property Trust是一家公开上市的房地产投资信托企业，重点布局美国西海岸优质不动产市场，核心投资标的为加利福尼亚州及西雅图大都会区的公寓类物业，在长租公寓的投资、运营及管理领域拥有深厚的行业积累与资源优势。
ENPH vs ESS — 直观对比
营收规模更大
ESS
是对方的1.7倍
$282.9M
营收增速更快
ESS
高出26.1%
-20.6%
净利率更高
ESS
高出20.5%
-2.6%
两年增速更快
ESS
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $479.6M |
| 净利润 | $-7.4M | $85.7M |
| 毛利率 | 35.5% | 70.0% |
| 营业利润率 | 54.0% | 31.7% |
| 净利率 | -2.6% | 17.9% |
| 营收同比 | -20.6% | 5.5% |
| 净利润同比 | -124.9% | -71.6% |
| 每股收益（稀释后） | $-0.06 | $1.24 |
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ENPHESS
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | $479.6M | ||
| Q3 25 | $410.4M | $473.3M | ||
| Q2 25 | $363.2M | $469.8M | ||
| Q1 25 | $356.1M | $464.6M | ||
| Q4 24 | $382.7M | $454.5M | ||
| Q3 24 | $380.9M | $450.7M | ||
| Q2 24 | $303.5M | $442.4M |
净利润ENPHESS
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $85.7M | ||
| Q3 25 | $66.6M | $172.7M | ||
| Q2 25 | $37.1M | $231.5M | ||
| Q1 25 | $29.7M | $212.8M | ||
| Q4 24 | $62.2M | $301.7M | ||
| Q3 24 | $45.8M | $125.5M | ||
| Q2 24 | $10.8M | $99.0M |
毛利率ENPHESS
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | 70.0% | ||
| Q3 25 | 47.8% | 69.2% | ||
| Q2 25 | 46.9% | 70.7% | ||
| Q1 25 | 47.2% | 69.6% | ||
| Q4 24 | 51.8% | 70.0% | ||
| Q3 24 | 46.8% | 69.5% | ||
| Q2 24 | 45.2% | 70.8% |
营业利润率ENPHESS
| Q1 26 | 54.0% | — | ||
| Q4 25 | 6.5% | 31.7% | ||
| Q3 25 | 16.1% | 44.5% | ||
| Q2 25 | 10.2% | 59.5% | ||
| Q1 25 | 9.0% | 55.3% | ||
| Q4 24 | 14.3% | 67.0% | ||
| Q3 24 | 13.1% | 28.6% | ||
| Q2 24 | 0.6% | 31.1% |
净利率ENPHESS
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 17.9% | ||
| Q3 25 | 16.2% | 36.5% | ||
| Q2 25 | 10.2% | 49.3% | ||
| Q1 25 | 8.3% | 45.8% | ||
| Q4 24 | 16.2% | 66.4% | ||
| Q3 24 | 12.0% | 27.8% | ||
| Q2 24 | 3.6% | 22.4% |
每股收益（稀释后）ENPHESS
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $1.24 | ||
| Q3 25 | $0.50 | $2.56 | ||
| Q2 25 | $0.28 | $3.44 | ||
| Q1 25 | $0.22 | $3.16 | ||
| Q4 24 | $0.46 | $4.00 | ||
| Q3 24 | $0.33 | $1.84 | ||
| Q2 24 | $0.08 | $1.45 |
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 | $497.5M | $76.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $5.5B |
| 总资产 | $2.7B | $13.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ENPHESS
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $76.2M | ||
| Q3 25 | $1.5B | $66.0M | ||
| Q2 25 | $1.5B | $58.7M | ||
| Q1 25 | $1.5B | $98.7M | ||
| Q4 24 | $1.6B | $66.8M | ||
| Q3 24 | $1.8B | $71.3M | ||
| Q2 24 | $1.6B | $55.2M |
总债务ENPHESS
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $6.4B | ||
| Q2 25 | $1.2B | $6.4B | ||
| Q1 25 | $1.2B | $6.8B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | $6.4B | ||
| Q2 24 | $1.3B | $6.2B |
股东权益ENPHESS
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $5.5B | ||
| Q3 25 | $995.0M | $5.6B | ||
| Q2 25 | $880.6M | $5.6B | ||
| Q1 25 | $810.7M | $5.6B | ||
| Q4 24 | $833.0M | $5.5B | ||
| Q3 24 | $931.4M | $5.4B | ||
| Q2 24 | $884.5M | $5.5B |
总资产ENPHESS
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $13.2B | ||
| Q3 25 | $3.3B | $13.2B | ||
| Q2 25 | $3.2B | $13.2B | ||
| Q1 25 | $3.1B | $13.2B | ||
| Q4 24 | $3.2B | $12.9B | ||
| Q3 24 | $3.3B | $12.6B | ||
| Q2 24 | $3.2B | $12.5B |
负债/权益比ENPHESS
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.21× | 1.15× | ||
| Q2 25 | 1.37× | 1.14× | ||
| Q1 25 | 1.48× | 1.22× | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.40× | 1.18× | ||
| Q2 24 | 1.47× | 1.13× |
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 | $102.9M | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $83.0M | — |
| 自由现金流率自由现金流/营收 | 29.3% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 12.53× |
| 过去12个月自由现金流最近4个季度 | $145.1M | — |
8季度趋势，按日历期对齐
经营现金流ENPHESS
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $1.1B | ||
| Q3 25 | $13.9M | $342.6M | ||
| Q2 25 | $26.6M | $216.1M | ||
| Q1 25 | $48.4M | $281.5M | ||
| Q4 24 | $167.3M | $1.1B | ||
| Q3 24 | $170.1M | $316.2M | ||
| Q2 24 | $127.1M | $218.9M |
自由现金流ENPHESS
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | — | ||
| Q3 25 | $5.9M | — | ||
| Q2 25 | $18.4M | — | ||
| Q1 25 | $33.8M | — | ||
| Q4 24 | $159.2M | — | ||
| Q3 24 | $161.6M | — | ||
| Q2 24 | $117.4M | — |
自由现金流率ENPHESS
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.5% | — | ||
| Q4 24 | 41.6% | — | ||
| Q3 24 | 42.4% | — | ||
| Q2 24 | 38.7% | — |
资本支出强度ENPHESS
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 3.2% | — |
现金转化率ENPHESS
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 12.53× | ||
| Q3 25 | 0.21× | 1.98× | ||
| Q2 25 | 0.72× | 0.93× | ||
| Q1 25 | 1.63× | 1.32× | ||
| Q4 24 | 2.69× | 3.54× | ||
| Q3 24 | 3.72× | 2.52× | ||
| Q2 24 | 11.73× | 2.21× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
