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Enphase Energy（ENPH）与KADANT INC（KAI）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KADANT INC的1.0倍（$282.9M vs $271.6M），KADANT INC净利率更高（10.2% vs -2.6%，领先12.8%），KADANT INC同比增速更快（-0.0% vs -20.6%），Enphase Energy自由现金流更多（$83.0M vs $44.1M），过去两年KADANT INC的营收复合增速更高（6.7% 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。
Kadant Inc.创立于1991年，最初是Thermo Electron的子公司，部分股权私有、部分公开交易，2001年完成完全分拆并启用现名。公司服务于造纸、废纸回收、木材加工、物料搬运等多个加工领域，是业务覆盖亚洲、欧洲、北美、南美的跨国企业。
ENPH vs KAI — 直观对比
营收规模更大
ENPH
是对方的1.0倍
$271.6M
营收增速更快
KAI
高出20.5%
-20.6%
净利率更高
KAI
高出12.8%
-2.6%
自由现金流更多
ENPH
多$38.9M
$44.1M
两年增速更快
KAI
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $271.6M |
| 净利润 | $-7.4M | $27.7M |
| 毛利率 | 35.5% | 45.2% |
| 营业利润率 | — | 15.7% |
| 净利率 | -2.6% | 10.2% |
| 营收同比 | -20.6% | -0.0% |
| 净利润同比 | -124.9% | -12.2% |
| 每股收益（稀释后） | $-0.06 | $2.35 |
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ENPHKAI
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | — | ||
| Q3 25 | $410.4M | $271.6M | ||
| Q2 25 | $363.2M | $255.3M | ||
| Q1 25 | $356.1M | $239.2M | ||
| Q4 24 | $382.7M | $258.0M | ||
| Q3 24 | $380.9M | $271.6M | ||
| Q2 24 | $303.5M | $274.8M |
净利润ENPHKAI
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | — | ||
| Q3 25 | $66.6M | $27.7M | ||
| Q2 25 | $37.1M | $26.2M | ||
| Q1 25 | $29.7M | $24.1M | ||
| Q4 24 | $62.2M | $24.0M | ||
| Q3 24 | $45.8M | $31.6M | ||
| Q2 24 | $10.8M | $31.3M |
毛利率ENPHKAI
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 47.8% | 45.2% | ||
| Q2 25 | 46.9% | 45.9% | ||
| Q1 25 | 47.2% | 46.1% | ||
| Q4 24 | 51.8% | 43.4% | ||
| Q3 24 | 46.8% | 44.7% | ||
| Q2 24 | 45.2% | 44.4% |
营业利润率ENPHKAI
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | — | ||
| Q3 25 | 16.1% | 15.7% | ||
| Q2 25 | 10.2% | 15.4% | ||
| Q1 25 | 9.0% | 14.9% | ||
| Q4 24 | 14.3% | 14.3% | ||
| Q3 24 | 13.1% | 18.0% | ||
| Q2 24 | 0.6% | 17.6% |
净利率ENPHKAI
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.2% | 10.2% | ||
| Q2 25 | 10.2% | 10.2% | ||
| Q1 25 | 8.3% | 10.1% | ||
| Q4 24 | 16.2% | 9.3% | ||
| Q3 24 | 12.0% | 11.6% | ||
| Q2 24 | 3.6% | 11.4% |
每股收益（稀释后）ENPHKAI
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | — | ||
| Q3 25 | $0.50 | $2.35 | ||
| Q2 25 | $0.28 | $2.22 | ||
| Q1 25 | $0.22 | $2.04 | ||
| Q4 24 | $0.46 | $2.04 | ||
| Q3 24 | $0.33 | $2.68 | ||
| Q2 24 | $0.08 | $2.66 |
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 | $124.5M |
| 总债务越低越好 | — | $254.6M |
| 股东权益账面价值 | $1.1B | $949.8M |
| 总资产 | $2.7B | $1.5B |
| 负债/权益比越低杠杆越低 | — | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资ENPHKAI
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $124.5M | ||
| Q2 25 | $1.5B | $95.3M | ||
| Q1 25 | $1.5B | $91.7M | ||
| Q4 24 | $1.6B | $94.7M | ||
| Q3 24 | $1.8B | $88.4M | ||
| Q2 24 | $1.6B | $73.8M |
总债务ENPHKAI
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $254.6M | ||
| Q2 25 | $1.2B | $245.7M | ||
| Q1 25 | $1.2B | $273.5M | ||
| Q4 24 | $1.3B | $285.2M | ||
| Q3 24 | $1.3B | $323.2M | ||
| Q2 24 | $1.3B | $342.0M |
股东权益ENPHKAI
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $995.0M | $949.8M | ||
| Q2 25 | $880.6M | $926.0M | ||
| Q1 25 | $810.7M | $876.0M | ||
| Q4 24 | $833.0M | $847.1M | ||
| Q3 24 | $931.4M | $851.7M | ||
| Q2 24 | $884.5M | $807.7M |
总资产ENPHKAI
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.3B | $1.5B | ||
| Q2 25 | $3.2B | $1.5B | ||
| Q1 25 | $3.1B | $1.4B | ||
| Q4 24 | $3.2B | $1.4B | ||
| Q3 24 | $3.3B | $1.5B | ||
| Q2 24 | $3.2B | $1.5B |
负债/权益比ENPHKAI
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.21× | 0.27× | ||
| Q2 25 | 1.37× | 0.27× | ||
| Q1 25 | 1.48× | 0.31× | ||
| Q4 24 | 1.56× | 0.34× | ||
| Q3 24 | 1.40× | 0.38× | ||
| Q2 24 | 1.47× | 0.42× |
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 | $47.3M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $44.1M |
| 自由现金流率自由现金流/营收 | 29.3% | 16.2% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | — | 1.70× |
| 过去12个月自由现金流最近4个季度 | $145.1M | $145.9M |
8季度趋势，按日历期对齐
经营现金流ENPHKAI
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | — | ||
| Q3 25 | $13.9M | $47.3M | ||
| Q2 25 | $26.6M | $40.5M | ||
| Q1 25 | $48.4M | $22.8M | ||
| Q4 24 | $167.3M | $51.9M | ||
| Q3 24 | $170.1M | $52.5M | ||
| Q2 24 | $127.1M | $28.1M |
自由现金流ENPHKAI
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | — | ||
| Q3 25 | $5.9M | $44.1M | ||
| Q2 25 | $18.4M | $36.5M | ||
| Q1 25 | $33.8M | $19.0M | ||
| Q4 24 | $159.2M | $46.3M | ||
| Q3 24 | $161.6M | $48.3M | ||
| Q2 24 | $117.4M | $23.1M |
自由现金流率ENPHKAI
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | — | ||
| Q3 25 | 1.4% | 16.2% | ||
| Q2 25 | 5.1% | 14.3% | ||
| Q1 25 | 9.5% | 7.9% | ||
| Q4 24 | 41.6% | 17.9% | ||
| Q3 24 | 42.4% | 17.8% | ||
| Q2 24 | 38.7% | 8.4% |
资本支出强度ENPHKAI
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | — | ||
| Q3 25 | 2.0% | 1.2% | ||
| Q2 25 | 2.3% | 1.6% | ||
| Q1 25 | 4.1% | 1.6% | ||
| Q4 24 | 2.1% | 2.2% | ||
| Q3 24 | 2.2% | 1.5% | ||
| Q2 24 | 3.2% | 1.8% |
现金转化率ENPHKAI
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | 0.21× | 1.70× | ||
| Q2 25 | 0.72× | 1.55× | ||
| Q1 25 | 1.63× | 0.95× | ||
| Q4 24 | 2.69× | 2.16× | ||
| Q3 24 | 3.72× | 1.66× | ||
| Q2 24 | 11.73× | 0.90× |
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
暂无分部数据
KAI
| Flow Control | $94.8M | 35% |
| Capital | $83.2M | 31% |
| Material Handling Systems | $70.3M | 26% |
| Transferred Over Time | $17.1M | 6% |
| Other | $6.1M | 2% |
