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Eversource Energy（ES）与摩托罗拉解决方案（MSI）财务数据对比。点击上方公司名可切换其他公司
摩托罗拉解决方案的季度营收约是Eversource Energy的1.0倍（$3.4B vs $3.4B），摩托罗拉解决方案净利率更高（19.2% vs 12.6%，领先6.6%），Eversource Energy同比增速更快（13.4% vs 12.3%），摩托罗拉解决方案自由现金流更多（$1.1B vs $-67.3M），过去两年摩托罗拉解决方案的营收复合增速更高（18.9% 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。
摩托罗拉解决方案是美国科技企业，总部位于伊利诺伊州芝加哥，2011年由摩托罗拉公司拆分成立。公司面向公共安全部门及企业客户，提供关键通信、视频安防、指挥中心技术等安全防护类产品与服务。
ES vs MSI — 直观对比
营收规模更大
MSI
是对方的1.0倍
$3.4B
营收增速更快
ES
高出1.1%
12.3%
净利率更高
MSI
高出6.6%
12.6%
自由现金流更多
MSI
多$1.2B
$-67.3M
两年增速更快
MSI
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $3.4B |
| 净利润 | $423.2M | $649.0M |
| 毛利率 | — | 52.3% |
| 营业利润率 | 21.1% | 27.9% |
| 净利率 | 12.6% | 19.2% |
| 营收同比 | 13.4% | 12.3% |
| 净利润同比 | 468.8% | 6.2% |
| 每股收益（稀释后） | $1.11 | $3.85 |
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ESMSI
| Q4 25 | $3.4B | $3.4B | ||
| Q3 25 | $3.2B | $3.0B | ||
| Q2 25 | $2.8B | $2.8B | ||
| Q1 25 | $4.1B | $2.5B | ||
| Q4 24 | $3.0B | $3.0B | ||
| Q3 24 | $3.1B | $2.8B | ||
| Q2 24 | $2.5B | $2.6B | ||
| Q1 24 | $3.3B | $2.4B |
净利润ESMSI
| Q4 25 | $423.2M | $649.0M | ||
| Q3 25 | $369.4M | $562.0M | ||
| Q2 25 | $354.6M | $513.0M | ||
| Q1 25 | $552.7M | $430.0M | ||
| Q4 24 | $74.4M | $611.0M | ||
| Q3 24 | $-116.2M | $562.0M | ||
| Q2 24 | $337.2M | $443.0M | ||
| Q1 24 | $523.7M | $-39.0M |
毛利率ESMSI
| Q4 25 | — | 52.3% | ||
| Q3 25 | — | 51.6% | ||
| Q2 25 | — | 51.1% | ||
| Q1 25 | — | 51.4% | ||
| Q4 24 | — | 51.4% | ||
| Q3 24 | — | 51.4% | ||
| Q2 24 | — | 51.0% | ||
| Q1 24 | — | 49.9% |
营业利润率ESMSI
| Q4 25 | 21.1% | 27.9% | ||
| Q3 25 | 21.4% | 25.6% | ||
| Q2 25 | 23.4% | 25.0% | ||
| Q1 25 | 22.5% | 23.0% | ||
| Q4 24 | 11.7% | 27.0% | ||
| Q3 24 | 20.0% | 25.5% | ||
| Q2 24 | 23.8% | 24.5% | ||
| Q1 24 | 25.4% | 21.7% |
净利率ESMSI
| Q4 25 | 12.6% | 19.2% | ||
| Q3 25 | 11.5% | 18.7% | ||
| Q2 25 | 12.5% | 18.6% | ||
| Q1 25 | 13.4% | 17.0% | ||
| Q4 24 | 2.5% | 20.3% | ||
| Q3 24 | -3.8% | 20.1% | ||
| Q2 24 | 13.3% | 16.9% | ||
| Q1 24 | 15.7% | -1.6% |
每股收益（稀释后）ESMSI
| Q4 25 | $1.11 | $3.85 | ||
| Q3 25 | $0.99 | $3.33 | ||
| Q2 25 | $0.96 | $3.04 | ||
| Q1 25 | $1.50 | $2.53 | ||
| Q4 24 | $0.16 | $3.57 | ||
| Q3 24 | $-0.33 | $3.29 | ||
| Q2 24 | $0.95 | $2.60 | ||
| Q1 24 | $1.49 | $-0.23 |
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 | $1.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $16.2B | $2.4B |
| 总资产 | $63.8B | $19.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ESMSI
| Q4 25 | $135.4M | $1.2B | ||
| Q3 25 | $259.3M | $894.0M | ||
| Q2 25 | $343.7M | $3.2B | ||
| Q1 25 | $111.4M | $1.6B | ||
| Q4 24 | $26.7M | $2.1B | ||
| Q3 24 | $97.9M | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.5B |
股东权益ESMSI
| Q4 25 | $16.2B | $2.4B | ||
| Q3 25 | $16.0B | $2.3B | ||
| Q2 25 | $15.7B | $2.0B | ||
| Q1 25 | $15.3B | $1.6B | ||
| Q4 24 | $15.0B | $1.7B | ||
| Q3 24 | $15.0B | $1.3B | ||
| Q2 24 | $14.8B | $802.0M | ||
| Q1 24 | $14.5B | $521.0M |
总资产ESMSI
| Q4 25 | $63.8B | $19.4B | ||
| Q3 25 | $61.7B | $18.8B | ||
| Q2 25 | $61.0B | $16.4B | ||
| Q1 25 | $60.2B | $14.4B | ||
| Q4 24 | $59.6B | $14.6B | ||
| Q3 24 | $58.6B | $13.9B | ||
| Q2 24 | $58.4B | $13.3B | ||
| Q1 24 | $57.3B | $13.3B |
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 | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $-67.3M | $1.1B |
| 自由现金流率自由现金流/营收 | -2.0% | 33.8% |
| 资本支出强度资本支出/营收 | 29.2% | 3.4% |
| 现金转化率经营现金流/净利润 | 2.16× | 1.94× |
| 过去12个月自由现金流最近4个季度 | $-45.1M | $2.6B |
8季度趋势，按日历期对齐
经营现金流ESMSI
| Q4 25 | $916.1M | $1.3B | ||
| Q3 25 | $1.1B | $798.0M | ||
| Q2 25 | $1.1B | $273.0M | ||
| Q1 25 | $1.0B | $510.0M | ||
| Q4 24 | $642.1M | $1.1B | ||
| Q3 24 | $555.6M | $759.0M | ||
| Q2 24 | $670.7M | $180.0M | ||
| Q1 24 | $291.3M | $382.0M |
自由现金流ESMSI
| Q4 25 | $-67.3M | $1.1B | ||
| Q3 25 | $-26.3M | $732.0M | ||
| Q2 25 | $15.3M | $225.0M | ||
| Q1 25 | $33.2M | $473.0M | ||
| Q4 24 | $-546.5M | $984.0M | ||
| Q3 24 | $-515.4M | $702.0M | ||
| Q2 24 | $-400.8M | $112.0M | ||
| Q1 24 | $-858.1M | $336.0M |
自由现金流率ESMSI
| Q4 25 | -2.0% | 33.8% | ||
| Q3 25 | -0.8% | 24.3% | ||
| Q2 25 | 0.5% | 8.1% | ||
| Q1 25 | 0.8% | 18.7% | ||
| Q4 24 | -18.4% | 32.7% | ||
| Q3 24 | -16.8% | 25.2% | ||
| Q2 24 | -15.8% | 4.3% | ||
| Q1 24 | -25.7% | 14.1% |
资本支出强度ESMSI
| Q4 25 | 29.2% | 3.4% | ||
| Q3 25 | 35.0% | 2.2% | ||
| Q2 25 | 36.7% | 1.7% | ||
| Q1 25 | 24.5% | 1.5% | ||
| Q4 24 | 40.0% | 2.9% | ||
| Q3 24 | 35.0% | 2.0% | ||
| Q2 24 | 42.3% | 2.6% | ||
| Q1 24 | 34.5% | 1.9% |
现金转化率ESMSI
| Q4 25 | 2.16× | 1.94× | ||
| Q3 25 | 2.98× | 1.42× | ||
| Q2 25 | 2.98× | 0.53× | ||
| Q1 25 | 1.88× | 1.19× | ||
| Q4 24 | 8.63× | 1.75× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | 1.99× | 0.41× | ||
| Q1 24 | 0.56× | — |
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% |
MSI
| Product And Systems Integration Segment | $1.5B | 45% |
| Services And Software Segment | $833.0M | 25% |
| Sales Channel Through Intermediary | $772.0M | 23% |
| Command Center Software | $258.0M | 8% |
