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Eversource Energy（ES）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是Eversource Energy的1.3倍（$4.3B vs $3.4B），皇家加勒比集团净利率更高（17.7% vs 12.6%，领先5.1%），Eversource Energy同比增速更快（13.4% vs 13.3%），皇家加勒比集团自由现金流更多（$116.0M vs $-67.3M），过去两年皇家加勒比集团的营收复合增速更高（6.9% 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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
ES vs RCL — 直观对比
营收规模更大
RCL
是对方的1.3倍
$3.4B
营收增速更快
ES
高出0.1%
13.3%
净利率更高
RCL
高出5.1%
12.6%
自由现金流更多
RCL
多$183.3M
$-67.3M
两年增速更快
RCL
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $4.3B |
| 净利润 | $423.2M | $753.0M |
| 毛利率 | — | 47.4% |
| 营业利润率 | 21.1% | 21.9% |
| 净利率 | 12.6% | 17.7% |
| 营收同比 | 13.4% | 13.3% |
| 净利润同比 | 468.8% | 36.4% |
| 每股收益（稀释后） | $1.11 | $2.76 |
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ESRCL
| Q4 25 | $3.4B | $4.3B | ||
| Q3 25 | $3.2B | $5.1B | ||
| Q2 25 | $2.8B | $4.5B | ||
| Q1 25 | $4.1B | $4.0B | ||
| Q4 24 | $3.0B | $3.8B | ||
| Q3 24 | $3.1B | $4.9B | ||
| Q2 24 | $2.5B | $4.1B | ||
| Q1 24 | $3.3B | $3.7B |
净利润ESRCL
| Q4 25 | $423.2M | $753.0M | ||
| Q3 25 | $369.4M | $1.6B | ||
| Q2 25 | $354.6M | $1.2B | ||
| Q1 25 | $552.7M | $730.0M | ||
| Q4 24 | $74.4M | $552.0M | ||
| Q3 24 | $-116.2M | $1.1B | ||
| Q2 24 | $337.2M | $854.0M | ||
| Q1 24 | $523.7M | $360.0M |
毛利率ESRCL
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% | ||
| Q1 24 | — | 44.8% |
营业利润率ESRCL
| Q4 25 | 21.1% | 21.9% | ||
| Q3 25 | 21.4% | 33.1% | ||
| Q2 25 | 23.4% | 29.3% | ||
| Q1 25 | 22.5% | 23.6% | ||
| Q4 24 | 11.7% | 16.6% | ||
| Q3 24 | 20.0% | 33.4% | ||
| Q2 24 | 23.8% | 26.7% | ||
| Q1 24 | 25.4% | 20.1% |
净利率ESRCL
| Q4 25 | 12.6% | 17.7% | ||
| Q3 25 | 11.5% | 30.6% | ||
| Q2 25 | 12.5% | 26.7% | ||
| Q1 25 | 13.4% | 18.3% | ||
| Q4 24 | 2.5% | 14.7% | ||
| Q3 24 | -3.8% | 22.7% | ||
| Q2 24 | 13.3% | 20.8% | ||
| Q1 24 | 15.7% | 9.7% |
每股收益（稀释后）ESRCL
| Q4 25 | $1.11 | $2.76 | ||
| Q3 25 | $0.99 | $5.74 | ||
| Q2 25 | $0.96 | $4.41 | ||
| Q1 25 | $1.50 | $2.70 | ||
| Q4 24 | $0.16 | $2.27 | ||
| Q3 24 | $-0.33 | $4.21 | ||
| Q2 24 | $0.95 | $3.11 | ||
| Q1 24 | $1.49 | $1.35 |
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 | $825.0M |
| 总债务越低越好 | — | $18.2B |
| 股东权益账面价值 | $16.2B | $10.0B |
| 总资产 | $63.8B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资ESRCL
| Q4 25 | $135.4M | $825.0M | ||
| Q3 25 | $259.3M | $432.0M | ||
| Q2 25 | $343.7M | $735.0M | ||
| Q1 25 | $111.4M | $386.0M | ||
| Q4 24 | $26.7M | $388.0M | ||
| Q3 24 | $97.9M | $418.0M | ||
| Q2 24 | — | $391.0M | ||
| Q1 24 | — | $437.0M |
总债务ESRCL
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B | ||
| Q1 24 | — | $18.9B |
股东权益ESRCL
| Q4 25 | $16.2B | $10.0B | ||
| Q3 25 | $16.0B | $10.1B | ||
| Q2 25 | $15.7B | $9.2B | ||
| Q1 25 | $15.3B | $8.0B | ||
| Q4 24 | $15.0B | $7.6B | ||
| Q3 24 | $15.0B | $7.0B | ||
| Q2 24 | $14.8B | $6.0B | ||
| Q1 24 | $14.5B | $5.2B |
总资产ESRCL
| Q4 25 | $63.8B | $41.6B | ||
| Q3 25 | $61.7B | $40.1B | ||
| Q2 25 | $61.0B | $38.5B | ||
| Q1 25 | $60.2B | $37.5B | ||
| Q4 24 | $59.6B | $37.1B | ||
| Q3 24 | $58.6B | $37.1B | ||
| Q2 24 | $58.4B | $37.0B | ||
| Q1 24 | $57.3B | $35.2B |
负债/权益比ESRCL
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× | ||
| Q1 24 | — | 3.66× |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $-67.3M | $116.0M |
| 自由现金流率自由现金流/营收 | -2.0% | 2.7% |
| 资本支出强度资本支出/营收 | 29.2% | 35.4% |
| 现金转化率经营现金流/净利润 | 2.16× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $-45.1M | $1.2B |
8季度趋势，按日历期对齐
经营现金流ESRCL
| Q4 25 | $916.1M | $1.6B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $1.0B | $1.6B | ||
| Q4 24 | $642.1M | $1.5B | ||
| Q3 24 | $555.6M | $897.0M | ||
| Q2 24 | $670.7M | $1.6B | ||
| Q1 24 | $291.3M | $1.3B |
自由现金流ESRCL
| Q4 25 | $-67.3M | $116.0M | ||
| Q3 25 | $-26.3M | $-989.0M | ||
| Q2 25 | $15.3M | $910.0M | ||
| Q1 25 | $33.2M | $1.2B | ||
| Q4 24 | $-546.5M | $915.0M | ||
| Q3 24 | $-515.4M | $563.0M | ||
| Q2 24 | $-400.8M | $-567.0M | ||
| Q1 24 | $-858.1M | $1.1B |
自由现金流率ESRCL
| Q4 25 | -2.0% | 2.7% | ||
| Q3 25 | -0.8% | -19.2% | ||
| Q2 25 | 0.5% | 20.1% | ||
| Q1 25 | 0.8% | 30.0% | ||
| Q4 24 | -18.4% | 24.3% | ||
| Q3 24 | -16.8% | 11.5% | ||
| Q2 24 | -15.8% | -13.8% | ||
| Q1 24 | -25.7% | 29.1% |
资本支出强度ESRCL
| Q4 25 | 29.2% | 35.4% | ||
| Q3 25 | 35.0% | 47.8% | ||
| Q2 25 | 36.7% | 18.4% | ||
| Q1 25 | 24.5% | 10.7% | ||
| Q4 24 | 40.0% | 14.7% | ||
| Q3 24 | 35.0% | 6.8% | ||
| Q2 24 | 42.3% | 52.1% | ||
| Q1 24 | 34.5% | 6.5% |
现金转化率ESRCL
| Q4 25 | 2.16× | 2.16× | ||
| Q3 25 | 2.98× | 0.93× | ||
| Q2 25 | 2.98× | 1.44× | ||
| Q1 25 | 1.88× | 2.23× | ||
| Q4 24 | 8.63× | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 1.99× | 1.84× | ||
| Q1 24 | 0.56× | 3.69× |
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% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
