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Enphase Energy（ENPH）与IHS Holding Ltd（IHS）财务数据对比。点击上方公司名可切换其他公司
Enphase Energy的季度营收约是IHS Holding Ltd的1.1倍（$282.9M vs $254.0M），IHS Holding Ltd同比增速更快（0.1% vs -20.6%），IHS Holding Ltd自由现金流更多（$178.6M vs $83.0M），过去两年Enphase Energy的营收复合增速更高（-3.4% vs -22.0%）
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。
IHS Holding是全球规模领先的共享通信基础设施独立持有、运营及开发企业之一，也是全球第五大独立跨国通信铁塔企业，业务覆盖非洲与拉美地区，为当地通信网络部署提供关键的铁塔基础设施支持。
ENPH vs IHS — 直观对比
营收规模更大
ENPH
是对方的1.1倍
$254.0M
营收增速更快
IHS
高出20.6%
-20.6%
自由现金流更多
IHS
多$95.6M
$83.0M
两年增速更快
ENPH
近两年复合增速
-22.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $254.0M |
| 净利润 | $-7.4M | — |
| 毛利率 | 35.5% | 83.6% |
| 营业利润率 | — | — |
| 净利率 | -2.6% | — |
| 营收同比 | -20.6% | 0.1% |
| 净利润同比 | -124.9% | — |
| 每股收益（稀释后） | $-0.06 | — |
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ENPHIHS
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | $254.0M | ||
| Q3 25 | $410.4M | $455.1M | ||
| Q2 25 | $363.2M | $433.3M | ||
| Q1 25 | $356.1M | $439.6M | ||
| Q4 24 | $382.7M | $253.8M | ||
| Q3 24 | $380.9M | $420.3M | ||
| Q2 24 | $303.5M | $435.4M |
净利润ENPHIHS
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | — | ||
| Q3 25 | $66.6M | $147.4M | ||
| Q2 25 | $37.1M | $32.3M | ||
| Q1 25 | $29.7M | $30.7M | ||
| Q4 24 | $62.2M | — | ||
| Q3 24 | $45.8M | $-205.7M | ||
| Q2 24 | $10.8M | $-124.3M |
毛利率ENPHIHS
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | 83.6% | ||
| Q3 25 | 47.8% | 47.5% | ||
| Q2 25 | 46.9% | 51.3% | ||
| Q1 25 | 47.2% | 51.4% | ||
| Q4 24 | 51.8% | 72.1% | ||
| Q3 24 | 46.8% | 52.0% | ||
| Q2 24 | 45.2% | 52.5% |
营业利润率ENPHIHS
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | — | ||
| Q3 25 | 16.1% | 35.1% | ||
| Q2 25 | 10.2% | 33.8% | ||
| Q1 25 | 9.0% | 37.1% | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | 13.1% | 29.9% | ||
| Q2 24 | 0.6% | 34.0% |
净利率ENPHIHS
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.2% | 32.4% | ||
| Q2 25 | 10.2% | 7.5% | ||
| Q1 25 | 8.3% | 7.0% | ||
| Q4 24 | 16.2% | — | ||
| Q3 24 | 12.0% | -48.9% | ||
| Q2 24 | 3.6% | -28.5% |
每股收益（稀释后）ENPHIHS
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | — | ||
| Q3 25 | $0.50 | $0.44 | ||
| Q2 25 | $0.28 | $0.10 | ||
| Q1 25 | $0.22 | $0.10 | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $0.33 | $-0.61 | ||
| Q2 24 | $0.08 | $-0.36 |
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 | $825.7M |
| 总债务越低越好 | — | $3.1B |
| 股东权益账面价值 | $1.1B | $-89.8M |
| 总资产 | $2.7B | $4.5B |
| 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ENPHIHS
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $825.7M | ||
| Q3 25 | $1.5B | $647.6M | ||
| Q2 25 | $1.5B | $531.8M | ||
| Q1 25 | $1.5B | $629.0M | ||
| Q4 24 | $1.6B | $578.0M | ||
| Q3 24 | $1.8B | $397.5M | ||
| Q2 24 | $1.6B | $445.7M |
总债务ENPHIHS
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $3.1B | ||
| Q3 25 | $1.2B | $3.3B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $1.2B | $3.4B | ||
| Q4 24 | $1.3B | $3.3B | ||
| Q3 24 | $1.3B | $3.5B | ||
| Q2 24 | $1.3B | $3.6B |
股东权益ENPHIHS
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $-89.8M | ||
| Q3 25 | $995.0M | $38.1M | ||
| Q2 25 | $880.6M | $-98.4M | ||
| Q1 25 | $810.7M | $-184.4M | ||
| Q4 24 | $833.0M | $-314.4M | ||
| Q3 24 | $931.4M | $-284.7M | ||
| Q2 24 | $884.5M | $-308.3M |
总资产ENPHIHS
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $4.5B | ||
| Q3 25 | $3.3B | $4.7B | ||
| Q2 25 | $3.2B | $4.5B | ||
| Q1 25 | $3.1B | $4.4B | ||
| Q4 24 | $3.2B | $4.2B | ||
| Q3 24 | $3.3B | $4.6B | ||
| Q2 24 | $3.2B | $4.5B |
负债/权益比ENPHIHS
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.21× | 85.85× | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 1.47× | — |
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 | $246.9M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $178.6M |
| 自由现金流率自由现金流/营收 | 29.3% | 70.3% |
| 资本支出强度资本支出/营收 | — | 26.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $145.1M | $718.7M |
8季度趋势，按日历期对齐
经营现金流ENPHIHS
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $246.9M | ||
| Q3 25 | $13.9M | $251.3M | ||
| Q2 25 | $26.6M | $237.7M | ||
| Q1 25 | $48.4M | $200.3M | ||
| Q4 24 | $167.3M | $344.4M | ||
| Q3 24 | $170.1M | $174.5M | ||
| Q2 24 | $127.1M | $134.7M |
自由现金流ENPHIHS
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $178.6M | ||
| Q3 25 | $5.9M | $189.2M | ||
| Q2 25 | $18.4M | $197.7M | ||
| Q1 25 | $33.8M | $153.2M | ||
| Q4 24 | $159.2M | $282.9M | ||
| Q3 24 | $161.6M | $122.3M | ||
| Q2 24 | $117.4M | $74.2M |
自由现金流率ENPHIHS
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | 70.3% | ||
| Q3 25 | 1.4% | 41.6% | ||
| Q2 25 | 5.1% | 45.6% | ||
| Q1 25 | 9.5% | 34.8% | ||
| Q4 24 | 41.6% | 111.5% | ||
| Q3 24 | 42.4% | 29.1% | ||
| Q2 24 | 38.7% | 17.0% |
资本支出强度ENPHIHS
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 26.9% | ||
| Q3 25 | 2.0% | 13.6% | ||
| Q2 25 | 2.3% | 9.2% | ||
| Q1 25 | 4.1% | 10.7% | ||
| Q4 24 | 2.1% | 24.2% | ||
| Q3 24 | 2.2% | 12.4% | ||
| Q2 24 | 3.2% | 13.9% |
现金转化率ENPHIHS
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | 0.21× | 1.70× | ||
| Q2 25 | 0.72× | 7.36× | ||
| Q1 25 | 1.63× | 6.52× | ||
| Q4 24 | 2.69× | — | ||
| Q3 24 | 3.72× | — | ||
| Q2 24 | 11.73× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
