vs
Eversource Energy（ES）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是Eversource Energy的1.8倍（$6.0B vs $3.4B），Eversource Energy净利率更高（12.6% vs 1.0%，领先11.6%），Eversource Energy同比增速更快（13.4% vs -0.6%），国际纸业自由现金流更多（$94.0M vs $-67.3M），过去两年国际纸业的营收复合增速更高（12.3% vs 0.6%）
Eversource Energy是位列财富500强的上市能源企业，总部位于美国马萨诸塞州斯普林菲尔德，在康涅狄格州哈特福德、马萨诸塞州波士顿均设有办公据点，旗下多家受监管子公司为康涅狄格、马萨诸塞、新罕布什尔三州约400万用户提供零售电力、天然气及供水服务。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
ES vs IP — 直观对比
营收规模更大
IP
是对方的1.8倍
$3.4B
营收增速更快
ES
高出14.0%
-0.6%
净利率更高
ES
高出11.6%
1.0%
自由现金流更多
IP
多$161.3M
$-67.3M
两年增速更快
IP
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $6.0B |
| 净利润 | $423.2M | $60.0M |
| 毛利率 | — | — |
| 营业利润率 | 21.1% | — |
| 净利率 | 12.6% | 1.0% |
| 营收同比 | 13.4% | -0.6% |
| 净利润同比 | 468.8% | 157.1% |
| 每股收益（稀释后） | $1.11 | $0.14 |
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ESIP
| Q1 26 | — | $6.0B | ||
| Q4 25 | $3.4B | $4.7B | ||
| Q3 25 | $3.2B | $6.2B | ||
| Q2 25 | $2.8B | $6.8B | ||
| Q1 25 | $4.1B | $5.9B | ||
| Q4 24 | $3.0B | $4.6B | ||
| Q3 24 | $3.1B | $4.7B | ||
| Q2 24 | $2.5B | $4.7B |
净利润ESIP
| Q1 26 | — | $60.0M | ||
| Q4 25 | $423.2M | $-2.4B | ||
| Q3 25 | $369.4M | $-1.1B | ||
| Q2 25 | $354.6M | $75.0M | ||
| Q1 25 | $552.7M | $-105.0M | ||
| Q4 24 | $74.4M | $-147.0M | ||
| Q3 24 | $-116.2M | $150.0M | ||
| Q2 24 | $337.2M | $498.0M |
毛利率ESIP
| Q1 26 | — | — | ||
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | 27.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 28.7% | ||
| Q2 24 | — | 29.0% |
营业利润率ESIP
| Q1 26 | — | — | ||
| Q4 25 | 21.1% | -56.4% | ||
| Q3 25 | 21.4% | -10.8% | ||
| Q2 25 | 23.4% | 1.7% | ||
| Q1 25 | 22.5% | -2.3% | ||
| Q4 24 | 11.7% | -4.9% | ||
| Q3 24 | 20.0% | 5.1% | ||
| Q2 24 | 23.8% | 6.8% |
净利率ESIP
| Q1 26 | — | 1.0% | ||
| Q4 25 | 12.6% | -50.3% | ||
| Q3 25 | 11.5% | -17.7% | ||
| Q2 25 | 12.5% | 1.1% | ||
| Q1 25 | 13.4% | -1.8% | ||
| Q4 24 | 2.5% | -3.2% | ||
| Q3 24 | -3.8% | 3.2% | ||
| Q2 24 | 13.3% | 10.5% |
每股收益（稀释后）ESIP
| Q1 26 | — | $0.14 | ||
| Q4 25 | $1.11 | $-4.76 | ||
| Q3 25 | $0.99 | $-2.09 | ||
| Q2 25 | $0.96 | $0.14 | ||
| Q1 25 | $1.50 | $-0.24 | ||
| Q4 24 | $0.16 | $-0.42 | ||
| Q3 24 | $-0.33 | $0.42 | ||
| Q2 24 | $0.95 | $1.41 |
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 | $135.4M | — |
| 总债务越低越好 | — | $8.2B |
| 股东权益账面价值 | $16.2B | $14.8B |
| 总资产 | $63.8B | $36.4B |
| 负债/权益比越低杠杆越低 | — | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资ESIP
| Q1 26 | — | — | ||
| Q4 25 | $135.4M | $1.1B | ||
| Q3 25 | $259.3M | $995.0M | ||
| Q2 25 | $343.7M | $1.1B | ||
| Q1 25 | $111.4M | $1.2B | ||
| Q4 24 | $26.7M | $1.2B | ||
| Q3 24 | $97.9M | $1.2B | ||
| Q2 24 | — | $1.0B |
总债务ESIP
| Q1 26 | — | $8.2B | ||
| Q4 25 | — | $8.8B | ||
| Q3 25 | — | $9.0B | ||
| Q2 25 | — | $9.7B | ||
| Q1 25 | — | $9.2B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $5.3B | ||
| Q2 24 | — | $5.3B |
股东权益ESIP
| Q1 26 | — | $14.8B | ||
| Q4 25 | $16.2B | $14.8B | ||
| Q3 25 | $16.0B | $17.3B | ||
| Q2 25 | $15.7B | $18.6B | ||
| Q1 25 | $15.3B | $18.1B | ||
| Q4 24 | $15.0B | $8.2B | ||
| Q3 24 | $15.0B | $8.6B | ||
| Q2 24 | $14.8B | $8.6B |
总资产ESIP
| Q1 26 | — | $36.4B | ||
| Q4 25 | $63.8B | $38.0B | ||
| Q3 25 | $61.7B | $40.6B | ||
| Q2 25 | $61.0B | $42.4B | ||
| Q1 25 | $60.2B | $41.2B | ||
| Q4 24 | $59.6B | $22.8B | ||
| Q3 24 | $58.6B | $23.2B | ||
| Q2 24 | $58.4B | $23.1B |
负债/权益比ESIP
| Q1 26 | — | 0.55× | ||
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | 0.62× | ||
| Q2 24 | — | 0.62× |
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 | $916.1M | — |
| 自由现金流经营现金流 - 资本支出 | $-67.3M | $94.0M |
| 自由现金流率自由现金流/营收 | -2.0% | 1.6% |
| 资本支出强度资本支出/营收 | 29.2% | 8.7% |
| 现金转化率经营现金流/净利润 | 2.16× | — |
| 过去12个月自由现金流最近4个季度 | $-45.1M | $553.0M |
8季度趋势，按日历期对齐
经营现金流ESIP
| Q1 26 | — | — | ||
| Q4 25 | $916.1M | $905.0M | ||
| Q3 25 | $1.1B | $605.0M | ||
| Q2 25 | $1.1B | $476.0M | ||
| Q1 25 | $1.0B | $-288.0M | ||
| Q4 24 | $642.1M | $397.0M | ||
| Q3 24 | $555.6M | $521.0M | ||
| Q2 24 | $670.7M | $365.0M |
自由现金流ESIP
| Q1 26 | — | $94.0M | ||
| Q4 25 | $-67.3M | $255.0M | ||
| Q3 25 | $-26.3M | $150.0M | ||
| Q2 25 | $15.3M | $54.0M | ||
| Q1 25 | $33.2M | $-618.0M | ||
| Q4 24 | $-546.5M | $137.0M | ||
| Q3 24 | $-515.4M | $309.0M | ||
| Q2 24 | $-400.8M | $167.0M |
自由现金流率ESIP
| Q1 26 | — | 1.6% | ||
| Q4 25 | -2.0% | 5.4% | ||
| Q3 25 | -0.8% | 2.4% | ||
| Q2 25 | 0.5% | 0.8% | ||
| Q1 25 | 0.8% | -10.5% | ||
| Q4 24 | -18.4% | 3.0% | ||
| Q3 24 | -16.8% | 6.6% | ||
| Q2 24 | -15.8% | 3.5% |
资本支出强度ESIP
| Q1 26 | — | 8.7% | ||
| Q4 25 | 29.2% | 13.7% | ||
| Q3 25 | 35.0% | 7.3% | ||
| Q2 25 | 36.7% | 6.2% | ||
| Q1 25 | 24.5% | 5.6% | ||
| Q4 24 | 40.0% | 5.7% | ||
| Q3 24 | 35.0% | 4.5% | ||
| Q2 24 | 42.3% | 4.2% |
现金转化率ESIP
| Q1 26 | — | — | ||
| Q4 25 | 2.16× | — | ||
| Q3 25 | 2.98× | — | ||
| Q2 25 | 2.98× | 6.35× | ||
| Q1 25 | 1.88× | — | ||
| Q4 24 | 8.63× | — | ||
| Q3 24 | — | 3.47× | ||
| Q2 24 | 1.99× | 0.73× |
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
ES
| Residential | $1.2B | 35% |
| Commercial | $789.0M | 23% |
| Eversource Electric Transmission | $573.8M | 17% |
| Wholesale Transmission Revenue | $570.0M | 17% |
| Industrial | $102.6M | 3% |
| Water Distribution Segment | $58.4M | 2% |
| Eversource Water | $56.3M | 2% |
| Other Revenue Adjustmentsfrom Contractswith Customers | $25.9M | 1% |
IP
| Packaging Solutions North America | $3.6B | 61% |
| Packaging Solutions EMEA | $2.3B | 39% |
| Corporate and Inter-segment Sales | $22.0M | 0% |
