vs
Enphase Energy（ENPH）与RBC Bearings INC（RBC）财务数据对比。点击上方公司名可切换其他公司
RBC Bearings INC的季度营收约是Enphase Energy的1.6倍（$461.6M vs $282.9M），RBC Bearings INC净利率更高（14.6% vs -2.6%，领先17.2%），RBC Bearings INC同比增速更快（17.0% vs -20.6%），RBC Bearings INC自由现金流更多（$99.1M vs $83.0M），过去两年RBC Bearings INC的营收复合增速更高（5.6% 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。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
ENPH vs RBC — 直观对比
营收规模更大
RBC
是对方的1.6倍
$282.9M
营收增速更快
RBC
高出37.6%
-20.6%
净利率更高
RBC
高出17.2%
-2.6%
自由现金流更多
RBC
多$16.1M
$83.0M
两年增速更快
RBC
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $461.6M |
| 净利润 | $-7.4M | $67.4M |
| 毛利率 | 35.5% | 44.3% |
| 营业利润率 | 54.0% | 22.3% |
| 净利率 | -2.6% | 14.6% |
| 营收同比 | -20.6% | 17.0% |
| 净利润同比 | -124.9% | 16.4% |
| 每股收益（稀释后） | $-0.06 | $2.13 |
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ENPHRBC
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | $461.6M | ||
| Q3 25 | $410.4M | $455.3M | ||
| Q2 25 | $363.2M | $436.0M | ||
| Q1 25 | $356.1M | $437.7M | ||
| Q4 24 | $382.7M | $394.4M | ||
| Q3 24 | $380.9M | $397.9M | ||
| Q2 24 | $303.5M | $406.3M |
净利润ENPHRBC
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $67.4M | ||
| Q3 25 | $66.6M | $60.0M | ||
| Q2 25 | $37.1M | $68.5M | ||
| Q1 25 | $29.7M | $72.7M | ||
| Q4 24 | $62.2M | $57.9M | ||
| Q3 24 | $45.8M | $54.2M | ||
| Q2 24 | $10.8M | $61.4M |
毛利率ENPHRBC
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | 44.3% | ||
| Q3 25 | 47.8% | 44.1% | ||
| Q2 25 | 46.9% | 44.8% | ||
| Q1 25 | 47.2% | 44.2% | ||
| Q4 24 | 51.8% | 44.3% | ||
| Q3 24 | 46.8% | 43.7% | ||
| Q2 24 | 45.2% | 45.3% |
营业利润率ENPHRBC
| Q1 26 | 54.0% | — | ||
| Q4 25 | 6.5% | 22.3% | ||
| Q3 25 | 16.1% | 21.5% | ||
| Q2 25 | 10.2% | 23.2% | ||
| Q1 25 | 9.0% | 23.0% | ||
| Q4 24 | 14.3% | 21.7% | ||
| Q3 24 | 13.1% | 21.6% | ||
| Q2 24 | 0.6% | 24.0% |
净利率ENPHRBC
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 14.6% | ||
| Q3 25 | 16.2% | 13.2% | ||
| Q2 25 | 10.2% | 15.7% | ||
| Q1 25 | 8.3% | 16.6% | ||
| Q4 24 | 16.2% | 14.7% | ||
| Q3 24 | 12.0% | 13.6% | ||
| Q2 24 | 3.6% | 15.1% |
每股收益（稀释后）ENPHRBC
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $2.13 | ||
| Q3 25 | $0.50 | $1.90 | ||
| Q2 25 | $0.28 | $2.17 | ||
| Q1 25 | $0.22 | $2.33 | ||
| Q4 24 | $0.46 | $1.82 | ||
| Q3 24 | $0.33 | $1.65 | ||
| Q2 24 | $0.08 | $1.90 |
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 | $107.6M |
| 总债务越低越好 | — | $990.2M |
| 股东权益账面价值 | $1.1B | $3.3B |
| 总资产 | $2.7B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资ENPHRBC
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $107.6M | ||
| Q3 25 | $1.5B | $91.2M | ||
| Q2 25 | $1.5B | $132.9M | ||
| Q1 25 | $1.5B | $36.8M | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.6B | $76.8M |
总债务ENPHRBC
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $990.2M | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.2B | $915.6M | ||
| Q1 25 | $1.2B | $920.1M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — |
股东权益ENPHRBC
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $3.3B | ||
| Q3 25 | $995.0M | $3.2B | ||
| Q2 25 | $880.6M | $3.1B | ||
| Q1 25 | $810.7M | $3.0B | ||
| Q4 24 | $833.0M | $2.9B | ||
| Q3 24 | $931.4M | $2.9B | ||
| Q2 24 | $884.5M | $2.8B |
总资产ENPHRBC
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $5.1B | ||
| Q3 25 | $3.3B | $5.1B | ||
| Q2 25 | $3.2B | $4.8B | ||
| Q1 25 | $3.1B | $4.7B | ||
| Q4 24 | $3.2B | $4.7B | ||
| Q3 24 | $3.3B | $4.7B | ||
| Q2 24 | $3.2B | $4.7B |
负债/权益比ENPHRBC
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 0.30× | ||
| Q3 25 | 1.21× | 0.34× | ||
| Q2 25 | 1.37× | 0.29× | ||
| Q1 25 | 1.48× | 0.30× | ||
| 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 | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $99.1M |
| 自由现金流率自由现金流/营收 | 29.3% | 21.5% |
| 资本支出强度资本支出/营收 | — | 5.0% |
| 现金转化率经营现金流/净利润 | — | 1.81× |
| 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ENPHRBC
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $122.1M | ||
| Q3 25 | $13.9M | $88.4M | ||
| Q2 25 | $26.6M | $120.0M | ||
| Q1 25 | $48.4M | — | ||
| Q4 24 | $167.3M | $84.0M | ||
| Q3 24 | $170.1M | — | ||
| Q2 24 | $127.1M | $97.4M |
自由现金流ENPHRBC
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $99.1M | ||
| Q3 25 | $5.9M | $71.7M | ||
| Q2 25 | $18.4M | $104.3M | ||
| Q1 25 | $33.8M | — | ||
| Q4 24 | $159.2M | $73.6M | ||
| Q3 24 | $161.6M | — | ||
| Q2 24 | $117.4M | $88.4M |
自由现金流率ENPHRBC
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | 21.5% | ||
| Q3 25 | 1.4% | 15.7% | ||
| Q2 25 | 5.1% | 23.9% | ||
| Q1 25 | 9.5% | — | ||
| Q4 24 | 41.6% | 18.7% | ||
| Q3 24 | 42.4% | — | ||
| Q2 24 | 38.7% | 21.8% |
资本支出强度ENPHRBC
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 5.0% | ||
| Q3 25 | 2.0% | 3.7% | ||
| Q2 25 | 2.3% | 3.6% | ||
| Q1 25 | 4.1% | 3.2% | ||
| Q4 24 | 2.1% | 2.6% | ||
| Q3 24 | 2.2% | 4.1% | ||
| Q2 24 | 3.2% | 2.2% |
现金转化率ENPHRBC
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 1.81× | ||
| Q3 25 | 0.21× | 1.47× | ||
| Q2 25 | 0.72× | 1.75× | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 2.69× | 1.45× | ||
| Q3 24 | 3.72× | — | ||
| Q2 24 | 11.73× | 1.59× |
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
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
