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Enphase Energy（ENPH）与XPLR Infrastructure, LP（XIFR）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XPLR Infrastructure, LP的1.1倍（$282.9M vs $249.0M），XPLR Infrastructure, LP净利率更高（11.2% vs -2.6%，领先13.9%），XPLR Infrastructure, LP同比增速更快（-15.3% vs -20.6%），Enphase Energy自由现金流更多（$83.0M vs $-88.0M），过去两年XPLR Infrastructure, LP的营收复合增速更高（-1.6% 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。
XPLR Infrastructure, LP是NextEra Energy旗下公开上市的子公司，总部位于佛罗里达州朱诺海滩，是一家专注可再生能源领域的企业。
ENPH vs XIFR — 直观对比
营收规模更大
ENPH
是对方的1.1倍
$249.0M
营收增速更快
XIFR
高出5.2%
-20.6%
净利率更高
XIFR
高出13.9%
-2.6%
自由现金流更多
ENPH
多$171.0M
$-88.0M
两年增速更快
XIFR
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $249.0M |
| 净利润 | $-7.4M | $28.0M |
| 毛利率 | 35.5% | — |
| 营业利润率 | — | -19.3% |
| 净利率 | -2.6% | 11.2% |
| 营收同比 | -20.6% | -15.3% |
| 净利润同比 | -124.9% | 124.3% |
| 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ENPHXIFR
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | $249.0M | ||
| Q3 25 | $410.4M | $315.0M | ||
| Q2 25 | $363.2M | $342.0M | ||
| Q1 25 | $356.1M | $282.0M | ||
| Q4 24 | $382.7M | $294.0M | ||
| Q3 24 | $380.9M | $319.0M | ||
| Q2 24 | $303.5M | $360.0M |
净利润ENPHXIFR
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $28.0M | ||
| Q3 25 | $66.6M | $-37.0M | ||
| Q2 25 | $37.1M | $79.0M | ||
| Q1 25 | $29.7M | $-98.0M | ||
| Q4 24 | $62.2M | $-115.0M | ||
| Q3 24 | $45.8M | $-40.0M | ||
| Q2 24 | $10.8M | $62.0M |
毛利率ENPHXIFR
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 46.9% | — | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 51.8% | — | ||
| Q3 24 | 46.8% | — | ||
| Q2 24 | 45.2% | — |
营业利润率ENPHXIFR
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | -19.3% | ||
| Q3 25 | 16.1% | 1.6% | ||
| Q2 25 | 10.2% | 26.3% | ||
| Q1 25 | 9.0% | -82.6% | ||
| Q4 24 | 14.3% | -188.1% | ||
| Q3 24 | 13.1% | 15.4% | ||
| Q2 24 | 0.6% | 18.3% |
净利率ENPHXIFR
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 11.2% | ||
| Q3 25 | 16.2% | -11.7% | ||
| Q2 25 | 10.2% | 23.1% | ||
| Q1 25 | 8.3% | -34.8% | ||
| Q4 24 | 16.2% | -39.1% | ||
| Q3 24 | 12.0% | -12.5% | ||
| Q2 24 | 3.6% | 17.2% |
每股收益（稀释后）ENPHXIFR
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | — | ||
| Q3 25 | $0.50 | $-0.40 | ||
| Q2 25 | $0.28 | $0.84 | ||
| Q1 25 | $0.22 | $-1.05 | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $0.33 | $-0.43 | ||
| Q2 24 | $0.08 | $0.66 |
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 | $960.0M |
| 总债务越低越好 | — | $6.2B |
| 股东权益账面价值 | $1.1B | $10.9B |
| 总资产 | $2.7B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资ENPHXIFR
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $960.0M | ||
| Q3 25 | $1.5B | $711.0M | ||
| Q2 25 | $1.5B | $880.0M | ||
| Q1 25 | $1.5B | $1.5B | ||
| Q4 24 | $1.6B | $283.0M | ||
| Q3 24 | $1.8B | $290.0M | ||
| Q2 24 | $1.6B | $281.0M |
总债务ENPHXIFR
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $6.2B | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | $5.3B | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — |
股东权益ENPHXIFR
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $10.9B | ||
| Q3 25 | $995.0M | $11.0B | ||
| Q2 25 | $880.6M | $11.3B | ||
| Q1 25 | $810.7M | $12.6B | ||
| Q4 24 | $833.0M | $12.9B | ||
| Q3 24 | $931.4M | $13.6B | ||
| Q2 24 | $884.5M | $13.9B |
总资产ENPHXIFR
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $19.6B | ||
| Q3 25 | $3.3B | $19.1B | ||
| Q2 25 | $3.2B | $20.5B | ||
| Q1 25 | $3.1B | $21.4B | ||
| Q4 24 | $3.2B | $20.3B | ||
| Q3 24 | $3.3B | $20.9B | ||
| Q2 24 | $3.2B | $21.7B |
负债/权益比ENPHXIFR
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 0.57× | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.56× | 0.41× | ||
| 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 | $186.0M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $-88.0M |
| 自由现金流率自由现金流/营收 | 29.3% | -35.3% |
| 资本支出强度资本支出/营收 | — | 110.0% |
| 现金转化率经营现金流/净利润 | — | 6.64× |
| 过去12个月自由现金流最近4个季度 | $145.1M | $-219.0M |
8季度趋势，按日历期对齐
经营现金流ENPHXIFR
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $186.0M | ||
| Q3 25 | $13.9M | $231.0M | ||
| Q2 25 | $26.6M | $232.0M | ||
| Q1 25 | $48.4M | $90.0M | ||
| Q4 24 | $167.3M | $283.0M | ||
| Q3 24 | $170.1M | $208.0M | ||
| Q2 24 | $127.1M | $231.0M |
自由现金流ENPHXIFR
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $-88.0M | ||
| Q3 25 | $5.9M | $-283.0M | ||
| Q2 25 | $18.4M | $151.0M | ||
| Q1 25 | $33.8M | $1.0M | ||
| Q4 24 | $159.2M | $231.0M | ||
| Q3 24 | $161.6M | $152.0M | ||
| Q2 24 | $117.4M | $162.0M |
自由现金流率ENPHXIFR
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | -35.3% | ||
| Q3 25 | 1.4% | -89.8% | ||
| Q2 25 | 5.1% | 44.2% | ||
| Q1 25 | 9.5% | 0.4% | ||
| Q4 24 | 41.6% | 78.6% | ||
| Q3 24 | 42.4% | 47.6% | ||
| Q2 24 | 38.7% | 45.0% |
资本支出强度ENPHXIFR
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 110.0% | ||
| Q3 25 | 2.0% | 163.2% | ||
| Q2 25 | 2.3% | 23.7% | ||
| Q1 25 | 4.1% | 31.6% | ||
| Q4 24 | 2.1% | 17.7% | ||
| Q3 24 | 2.2% | 17.6% | ||
| Q2 24 | 3.2% | 19.2% |
现金转化率ENPHXIFR
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 6.64× | ||
| Q3 25 | 0.21× | — | ||
| Q2 25 | 0.72× | 2.94× | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 2.69× | — | ||
| Q3 24 | 3.72× | — | ||
| Q2 24 | 11.73× | 3.73× |
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
暂无分部数据
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
