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Enphase Energy（ENPH）与晶科能源控股有限公司（JKS）财务数据对比。点击上方公司名可切换其他公司
晶科能源控股有限公司的季度营收约是Enphase Energy的7.3倍（$2.5B vs $343.3M），过去两年Enphase Energy的营收复合增速更高（14.2% vs -23.1%）
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。
晶科能源控股有限公司是总部位于中国上海的太阳能光伏组件制造商，公司自2010年起在纽约证券交易所挂牌上市，其子公司晶科能源股份有限公司于2022年在上海证券交易所科创板上市，是全球知名的光伏产品提供商。
ENPH vs JKS — 直观对比
营收规模更大
JKS
是对方的7.3倍
$343.3M
两年增速更快
ENPH
近两年复合增速
-23.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $343.3M | $2.5B |
| 净利润 | $38.7M | — |
| 毛利率 | 44.3% | 0.3% |
| 营业利润率 | 6.5% | — |
| 净利率 | 11.3% | — |
| 营收同比 | -10.3% | — |
| 净利润同比 | -37.7% | — |
| 每股收益（稀释后） | $0.29 | — |
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ENPHJKS
| Q2 26 | — | $2.5B | ||
| Q4 25 | $343.3M | — | ||
| Q3 25 | $410.4M | — | ||
| Q2 25 | $363.2M | $2.3B | ||
| Q1 25 | $356.1M | $1.9B | ||
| Q4 24 | $382.7M | — | ||
| Q3 24 | $380.9M | $3.5B | ||
| Q2 24 | $303.5M | $3.3B |
净利润ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | $38.7M | — | ||
| Q3 25 | $66.6M | — | ||
| Q2 25 | $37.1M | — | ||
| Q1 25 | $29.7M | — | ||
| Q4 24 | $62.2M | — | ||
| Q3 24 | $45.8M | — | ||
| Q2 24 | $10.8M | — |
毛利率ENPHJKS
| Q2 26 | — | 0.3% | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 46.9% | 7.3% | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 51.8% | — | ||
| Q3 24 | 46.8% | 15.7% | ||
| Q2 24 | 45.2% | 11.1% |
营业利润率ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | 6.5% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | 9.0% | — | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | 13.1% | — | ||
| Q2 24 | 0.6% | — |
净利率ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.2% | — | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | 8.3% | — | ||
| Q4 24 | 16.2% | — | ||
| Q3 24 | 12.0% | — | ||
| Q2 24 | 3.6% | — |
每股收益（稀释后）ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | $0.29 | — | ||
| Q3 25 | $0.50 | — | ||
| Q2 25 | $0.28 | — | ||
| Q1 25 | $0.22 | — | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $0.33 | — | ||
| Q2 24 | $0.08 | — |
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 | $1.5B | — |
| 总债务越低越好 | $1.2B | — |
| 股东权益账面价值 | $1.1B | — |
| 总资产 | $3.5B | — |
| 负债/权益比越低杠杆越低 | 1.11× | — |
8季度趋势，按日历期对齐
现金及短期投资ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.6B | — |
总债务ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — |
股东权益ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $995.0M | — | ||
| Q2 25 | $880.6M | — | ||
| Q1 25 | $810.7M | — | ||
| Q4 24 | $833.0M | — | ||
| Q3 24 | $931.4M | — | ||
| Q2 24 | $884.5M | — |
总资产ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $3.2B | — |
负债/权益比ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.21× | — | ||
| 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 | $47.6M | — |
| 自由现金流经营现金流 - 资本支出 | $37.8M | — |
| 自由现金流率自由现金流/营收 | 11.0% | — |
| 资本支出强度资本支出/营收 | 2.8% | — |
| 现金转化率经营现金流/净利润 | 1.23× | — |
| 过去12个月自由现金流最近4个季度 | $95.9M | — |
8季度趋势，按日历期对齐
经营现金流ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | $47.6M | — | ||
| Q3 25 | $13.9M | — | ||
| Q2 25 | $26.6M | — | ||
| Q1 25 | $48.4M | — | ||
| Q4 24 | $167.3M | — | ||
| Q3 24 | $170.1M | — | ||
| Q2 24 | $127.1M | — |
自由现金流ENPHJKS
| Q2 26 | — | — | ||
| 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ENPHJKS
| Q2 26 | — | — | ||
| 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ENPHJKS
| Q2 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ENPHJKS
| Q2 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | 0.21× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 1.63× | — | ||
| 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
业务分部营收拆解
ENPH
| Transferred At Point In Time | $315.1M | 92% |
| Transferred Over Time | $28.3M | 8% |
JKS
暂无分部数据
