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Enphase Energy（ENPH）与Select Water Solutions, Inc.（WTTR）财务数据对比。点击上方公司名可切换其他公司
Select Water Solutions, Inc.的季度营收约是Enphase Energy的1.2倍（$346.5M vs $282.9M），Select Water Solutions, Inc.净利率更高（-0.1% vs -2.6%，领先2.5%），Select Water Solutions, Inc.同比增速更快（-0.7% vs -20.6%），Enphase Energy自由现金流更多（$83.0M vs $-6.0M），过去两年Select Water Solutions, Inc.的营收复合增速更高（-2.8% 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。
Select Water Solutions是一家专注于油气领域的水务及环保解决方案供应商，主要服务北美陆上油气开采市场，核心业务涵盖水资源获取、处理、回收、处置及化学品解决方案，可帮助客户降低运营成本、减少环境影响。
ENPH vs WTTR — 直观对比
营收规模更大
WTTR
是对方的1.2倍
$282.9M
营收增速更快
WTTR
高出19.8%
-20.6%
净利率更高
WTTR
高出2.5%
-2.6%
自由现金流更多
ENPH
多$89.0M
$-6.0M
两年增速更快
WTTR
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $346.5M |
| 净利润 | $-7.4M | $-346.0K |
| 毛利率 | 35.5% | 13.1% |
| 营业利润率 | — | -0.1% |
| 净利率 | -2.6% | -0.1% |
| 营收同比 | -20.6% | -0.7% |
| 净利润同比 | -124.9% | 78.9% |
| 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ENPHWTTR
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | $346.5M | ||
| Q3 25 | $410.4M | $322.2M | ||
| Q2 25 | $363.2M | $364.2M | ||
| Q1 25 | $356.1M | $374.4M | ||
| Q4 24 | $382.7M | $349.0M | ||
| Q3 24 | $380.9M | $371.3M | ||
| Q2 24 | $303.5M | $365.1M |
净利润ENPHWTTR
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $-346.0K | ||
| Q3 25 | $66.6M | $2.7M | ||
| Q2 25 | $37.1M | $10.6M | ||
| Q1 25 | $29.7M | $8.2M | ||
| Q4 24 | $62.2M | $-1.6M | ||
| Q3 24 | $45.8M | $15.8M | ||
| Q2 24 | $10.8M | $12.9M |
毛利率ENPHWTTR
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | 13.1% | ||
| Q3 25 | 47.8% | 13.5% | ||
| Q2 25 | 46.9% | 15.9% | ||
| Q1 25 | 47.2% | 14.9% | ||
| Q4 24 | 51.8% | 12.7% | ||
| Q3 24 | 46.8% | 16.8% | ||
| Q2 24 | 45.2% | 16.5% |
营业利润率ENPHWTTR
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | -0.1% | ||
| Q3 25 | 16.1% | -0.5% | ||
| Q2 25 | 10.2% | 4.2% | ||
| Q1 25 | 9.0% | 4.2% | ||
| Q4 24 | 14.3% | 0.7% | ||
| Q3 24 | 13.1% | 6.6% | ||
| Q2 24 | 0.6% | 5.6% |
净利率ENPHWTTR
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | -0.1% | ||
| Q3 25 | 16.2% | 0.8% | ||
| Q2 25 | 10.2% | 2.9% | ||
| Q1 25 | 8.3% | 2.2% | ||
| Q4 24 | 16.2% | -0.5% | ||
| Q3 24 | 12.0% | 4.3% | ||
| Q2 24 | 3.6% | 3.5% |
每股收益（稀释后）ENPHWTTR
| Q1 26 | $-0.06 | — | ||
| 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 | $497.5M | $18.1M |
| 总债务越低越好 | — | $320.0M |
| 股东权益账面价值 | $1.1B | $805.6M |
| 总资产 | $2.7B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资ENPHWTTR
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $18.1M | ||
| Q3 25 | $1.5B | $17.8M | ||
| Q2 25 | $1.5B | $51.2M | ||
| Q1 25 | $1.5B | $27.9M | ||
| Q4 24 | $1.6B | $20.0M | ||
| Q3 24 | $1.8B | $10.9M | ||
| Q2 24 | $1.6B | $16.4M |
总债务ENPHWTTR
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $320.0M | ||
| Q3 25 | $1.2B | $305.0M | ||
| Q2 25 | $1.2B | $275.0M | ||
| Q1 25 | $1.2B | $250.0M | ||
| Q4 24 | $1.3B | $85.0M | ||
| Q3 24 | $1.3B | $80.0M | ||
| Q2 24 | $1.3B | $90.0M |
股东权益ENPHWTTR
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $805.6M | ||
| Q3 25 | $995.0M | $808.1M | ||
| Q2 25 | $880.6M | $799.3M | ||
| Q1 25 | $810.7M | $793.1M | ||
| Q4 24 | $833.0M | $793.5M | ||
| Q3 24 | $931.4M | $796.5M | ||
| Q2 24 | $884.5M | $782.0M |
总资产ENPHWTTR
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $1.6B | ||
| Q3 25 | $3.3B | $1.6B | ||
| Q2 25 | $3.2B | $1.5B | ||
| Q1 25 | $3.1B | $1.5B | ||
| Q4 24 | $3.2B | $1.4B | ||
| Q3 24 | $3.3B | $1.3B | ||
| Q2 24 | $3.2B | $1.3B |
负债/权益比ENPHWTTR
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 0.40× | ||
| Q3 25 | 1.21× | 0.38× | ||
| Q2 25 | 1.37× | 0.34× | ||
| Q1 25 | 1.48× | 0.32× | ||
| Q4 24 | 1.56× | 0.11× | ||
| Q3 24 | 1.40× | 0.10× | ||
| Q2 24 | 1.47× | 0.12× |
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 | $65.5M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $-6.0M |
| 自由现金流率自由现金流/营收 | 29.3% | -1.7% |
| 资本支出强度资本支出/营收 | — | 20.6% |
| 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 | $-79.9M |
8季度趋势，按日历期对齐
经营现金流ENPHWTTR
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $65.5M | ||
| Q3 25 | $13.9M | $71.7M | ||
| Q2 25 | $26.6M | $82.6M | ||
| Q1 25 | $48.4M | $-5.1M | ||
| Q4 24 | $167.3M | $67.8M | ||
| Q3 24 | $170.1M | $51.9M | ||
| Q2 24 | $127.1M | $83.1M |
自由现金流ENPHWTTR
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $-6.0M | ||
| Q3 25 | $5.9M | $-23.5M | ||
| Q2 25 | $18.4M | $3.2M | ||
| Q1 25 | $33.8M | $-53.5M | ||
| Q4 24 | $159.2M | $12.7M | ||
| Q3 24 | $161.6M | $16.7M | ||
| Q2 24 | $117.4M | $34.0M |
自由现金流率ENPHWTTR
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | -1.7% | ||
| Q3 25 | 1.4% | -7.3% | ||
| Q2 25 | 5.1% | 0.9% | ||
| Q1 25 | 9.5% | -14.3% | ||
| Q4 24 | 41.6% | 3.6% | ||
| Q3 24 | 42.4% | 4.5% | ||
| Q2 24 | 38.7% | 9.3% |
资本支出强度ENPHWTTR
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 20.6% | ||
| Q3 25 | 2.0% | 29.6% | ||
| Q2 25 | 2.3% | 21.8% | ||
| Q1 25 | 4.1% | 12.9% | ||
| Q4 24 | 2.1% | 15.8% | ||
| Q3 24 | 2.2% | 9.5% | ||
| Q2 24 | 3.2% | 13.5% |
现金转化率ENPHWTTR
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | 0.21× | 26.72× | ||
| Q2 25 | 0.72× | 7.76× | ||
| Q1 25 | 1.63× | -0.61× | ||
| Q4 24 | 2.69× | — | ||
| Q3 24 | 3.72× | 3.29× | ||
| Q2 24 | 11.73× | 6.46× |
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
WTTR
| Water Services | $178.3M | 51% |
| Marcellus Utica | $38.6M | 11% |
| Rockies | $38.3M | 11% |
| Eagle Ford | $28.2M | 8% |
| Midcon | $23.0M | 7% |
| Haynesville E.Texas | $19.1M | 6% |
| Bakken | $17.3M | 5% |
| Eliminations And Other Geographical Regions | $3.6M | 1% |
